Xuan Thien Group was fined 60 million VND for violating information disclosure.

Specifically, on September 5, the Inspectorate of the State Securities Commission (SSC) issued Decision No. 280 on administrative sanctions in the field of securities and the securities market against Xuan Thien Group Joint Stock Company (address: Xuan Thien Building, Xuan Thanh Urban Area, Ninh Khanh Ward, Ninh Binh City, Ninh Binh Province).

Accordingly, Xuan Thien Group Joint Stock Company was fined VND 60 million for administrative violations of not disclosing information on time as prescribed by law (The Company did not disclose periodic information on time to the Hanoi Stock Exchange on the 2021 Financial Report; Report on the use of capital from bond issuance in 2021; and Payment of interest and principal of bonds in 2021).

Xuan Thien Group Joint Stock Company; address: Xuan Thien building, Xuan Thanh urban area, Ninh Khanh ward, Ninh Binh city, Ninh Binh province. (Photo: Xuanthiengroup.vn)

Xuan Thien Group was established in 2000 and is known as a business with Mr. Nguyen Van Thien, the brother of Mr. Nguyen Duc Thuy (Mr. Thuy), and the eldest son of the Xuan Thanh family - a famous business in Ninh Binh, as Chairman of the Board of Directors.

Through many member companies, Xuan Thien Group focuses on investing in many fields such as construction materials (traditional field), high-tech agriculture, hotels - tourism, real estate, logistics, education and especially renewable energy.

In the field of construction materials, with the main product being cement, Xuan Thien Group currently owns a number of cement factories such as Xuan Thanh Ha Nam Cement Factory (capacity of 6 million tons of cement/year), Xuan Thanh Quang Nam Cement Factory (capacity of 1.3 million tons of cement/year), Minh Tam Binh Phuoc Cement Factory (planned capacity of 2.5 million tons of cement/year).

Xuan Thien Group is also known in the field of renewable energy (solar power, wind power) with a milestone in 2014, when a member unit, Xuan Thien Vietnam Co., Ltd., became the first Vietnamese enterprise to invest in hydropower in Cameroon (Africa).

Xuan Thien Ninh Binh has a series of member companies with capital up to tens of thousands of billions, however, Xuan Thien Ninh Binh's business results in recent years have not been very bright.

Data shows that in the period 2016 - 2020, Xuan Thien Ninh Binh's net revenue was recorded at 1,377 billion VND, 573.2 billion VND, 1,491 billion VND, 958.4 billion VND and 1,093 billion VND, respectively.

Although revenue is high, Xuan Thien Ninh Binh's net profit is quite thin. In the period 2016 - 2020, it reached 412 million VND, 176 million VND, 185 million VND and 214 million VND respectively, with a loss of 2.6 billion VND. And by 2021, Xuan Thien Ninh Binh continued to report a loss of 22.6 billion VND.

As of December 31, 2021, Xuan Thien Ninh Binh's total assets recorded 6,469 billion VND.

Thanh Lam

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