Hung Thinh Quy Nhon continues to be fined.

DNVN - Hung Thinh Quy Nhon Entertainment Services Joint Stock Company was fined 85 million VND by the Inspectorate of the State Securities Commission for failing to disclose information that was required to be disclosed according to the law.

The Inspectorate of the State Securities Commission (SSC) has just issued a decision to impose administrative penalties on Hung Thinh Quy Nhon Entertainment Services Joint Stock Company (abbreviated as Hung Thinh Quy Nhon - headquartered at Lot K20, Hung Thinh residential area, Che Lan Vien Street, Ghenh Rang Ward, Quy Nhon City, Binh Dinh Province).

Applying point a, clause 4, Article 42 of Government Decree No. 156/2020/ND-CP dated December 31, 2020, on administrative sanctions in the field of securities and securities market, the Inspectorate of the State Securities Commission fined Hung Thinh Quy Nhon Company 85 million VND for the administrative violation of failing to disclose information that is required to be disclosed according to the law.

Regarding the Grand Center Quy Nhon project, in 2024, Hung Thinh Quy Nhon was fined 500 million VND.

Accordingly, Hung Thinh Quy Nhon failed to make the periodic disclosure regarding the audited semi-annual report on the use of funds from bond issuance in 2023.

Simultaneously, the following documents were not submitted to the Hanoi Stock Exchange within the prescribed timeframe: the status of the issuing company's fulfillment of its commitments to bondholders in 2022; the audited report on the use of proceeds from the bond issuance in 2022; the semi-annual financial report for 2023; and the resolution of bondholders of bond HQNCH2124005 regarding the addition of conditions and terms related to bond interest payment, and the amendment of terms and conditions of bond HQNCH2124007.

Hung Thinh Quy Nhon is a subsidiary of Hung Thinh Group, established in 2018, with the aim of becoming a key real estate business unit in Binh Dinh province in particular and the entire Central region in general.

In Binh Dinh province, Hung Thinh Quy Nhon is the investor of many real estate projects. These include a mixed-use complex comprising offices, hotels, and apartments, with high-rise residential and commercial units, located at 1 Nguyen Tat Thanh Street, Quy Nhon City (commercial name: Grand Center Quy Nhon).

Regarding this project, in 2024, the People's Committee of Binh Dinh province issued a decision imposing administrative penalties on Hung Thinh Quy Nhon for violating regulations by collecting money from buyers and leaseholders of future real estate projects exceeding the stipulated percentage of the contract value.

Specifically: collecting initial payments exceeding 30% of the contract value in 14 contracts, and collecting payments exceeding 70% of the contract value before handing over the house or construction project to the customer in 7 contracts.

Applying point d, clause 3, Article 58 of Government Decree No. 16/2022/ND-CP dated January 28, 2022, on administrative sanctions for construction violations, the People's Committee of Binh Dinh province decided to fine Hung Thinh Quy Nhon 500 million VND.

At the same time, Hung Thinh Quy Nhon is obligated to collect payments from buyers and lessees of future real estate projects according to the project schedule, or to refund the buyer any excess contract value collected in accordance with the law.

Vien Huu

Source: https://doanhnghiepvn.vn/doanh-nhan/hung-thinh-quy-nhon-tiep-tuc-bi-phat/20250410092322006