Shares of companies that do not publish financial reports for 3 consecutive years will be suspended.

According to HNX, in order to monitor compliance with information disclosure obligations of registered trading organizations, as well as to protect the rights and interests of investors, HNX has increased monitoring, detected violations and imposed penalties in many forms.

Specifically, restricting trading of stocks of organizations that register to trade and are late in submitting audited annual financial statements or reviewed semi-annual financial statements more than 45 days from the deadline for information disclosure.

Suspend trading of shares of organizations registered for trading in restricted trading areas without taking remedial measures, seriously violating information disclosure obligations, and failing to publish audited financial statements for 3 consecutive fiscal years or more.

Stock trading on UPCoM will be suspended if audited financial statements are not published for 3 consecutive years or more. (Photo: chinhphu.vn)

Also according to HNX, on the UPCoM market, there are currently many businesses that are restricted from trading because they have not yet published their audited financial statements. HNX has asked the businesses to explain the reasons and propose solutions to overcome the violations.

In case the organization registering for trading does not take measures to remedy the cause leading to the stock being put on the restricted trading list, HNX will suspend trading according to the regulations and instructions of the Vietnam Stock Exchange.

The obligation to disclose audited financial statements of public companies is stipulated in Circular 96/2020/TT-BTC dated November 16, 2020 guiding the disclosure of information on the stock market. Accordingly, public companies must disclose audited nine-year financial statements within 10 days from the date the auditing organization signs the audit report, but not exceeding 90 days from the end of the fiscal year.

Recently, the Ministry of Finance has issued Circular No. 63 (amended and supplemented), showing the plan to transfer all 329 listed stocks on the Hanoi Stock Exchange to the Ho Chi Minh City Stock Exchange, no later than December 31, 2025.

Starting from July 1, 2025, the Hanoi Stock Exchange will no longer accept applications for new stock listings from enterprises. By December 31, 2026 at the latest, all 859 stock codes on the UPCoM floor will also be transferred to Ho Chi Minh City.

Thus, in the near future, HoSE will devote all its efforts to managing the stock market and fund certificates, while HNX will focus on bonds and derivatives.

Ngoc Vy

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