After a half-year loss, NT2 shares were cut from margin trading.

DNVN - The negative after-tax profit of VND 36 billion reported in the 2024 semi-annual financial statement is the reason why NT2 shares of Nhon Trach 2 Petrochemical Power Joint Stock Company have been listed by HoSE as ineligible for margin trading (margin cut).

The Ho Chi Minh City Stock Exchange (HoSE) has just added NT2 shares of Nhon Trach 2 Petrochemical Power Joint Stock Company to the list of securities ineligible for margin trading (margin cut).

According to HoSE, NT2's margin trading was suspended because its after-tax profit in the audited semi-annual financial report for 2024 was negative.

The audited interim financial report for the six-month period ending June 30, 2024, of NT2 shows that revenue in the first half of this year reached only VND 2,557 billion, a decrease of 41.9% compared to the same period last year.

After deducting expenses, NT2's pre-tax profit was negative 36 billion VND, a decrease of 108.9% compared to the first six months of last year; after- tax profit was negative 36 billion VND, a decrease of 109.5% compared to the first half of 2023.

Explaining this result, NT2 stated that it was mainly due to fluctuations in several indicators.

In the first six months of 2024, NT2's after-tax profit was negative 36 billion VND, a decrease of 109.5% compared to the first half of 2023.

Specifically, gross profit from electricity production in the first six months of this year decreased by VND 509.8 billion, a decrease of 123.2% compared to the first six months of 2023. The main reason is that electricity production in the first half of this year only reached 1,177.9 million kWh, while electricity production in the same period of 2023 reached 2,128.8 million kWh. Revenue from electricity production decreased by VND 1,917 billion, a decrease of 43.9%; the cost of goods sold decreased by more than VND 1,407 billion, a decrease of 35.6% compared to the first six months of 2023.

While both revenue and cost of goods sold decreased, revenue from electricity production fell more significantly than the cost of goods sold, resulting in a decrease in gross profit from electricity production in the first six months of this year compared to the same period last year.

Profits from financial activities in the first six months of this year decreased by VND 5.5 billion compared to the first half of last year.

Business management expenses in the first six months of 2024 decreased by VND 4.7 billion, a reduction of 12.3% compared to the first six months of 2023.

In addition, profits from other operations in the first six months of the year decreased by VND 71.2 billion compared to the same period last year.

The main reason is the long-term equipment maintenance contract between the Company and the Siemens AG/Siemens Ltd. Vietnam Joint Venture. In the first six months of this year, this cooperation completed the settlement process and recorded an increase in the value of ISP spare parts inventory, i.e., the value of unused materials remaining after maintenance, totaling VND 70,294,128,000. Simultaneously, other income was also recorded with a corresponding increase.

In 2024, Nhon Trach 2 Power Plant aims to achieve 6,340 billion VND in revenue and 68 billion VND in after-tax profit, lower than the 6,386 billion VND and 473 billion VND achieved in the previous year.

With the addition of NT2, as of August 12, 2024, the list of stocks ineligible for margin trading on HoSE now includes 79 stocks.

The reasons for HOSE cutting margin trading include securities under warning/control/trading restrictions; negative after-tax profit; audited financial statements with opinions from the auditing firm; and listing time of less than 6 months… Among them are familiar companies such as Petrolimex, Moc Chau, Nam Song Hau Oil and Gas, Thu Duc House, Truong Thanh Wood, Viettel Post…

Thu An

Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/lo-ban-nien-co-phieu-nt2-bi-cut-margin/20240813034612891