AGM shares of An Giang Import Export JSC have been under control since September 10.

DNVN - According to a decision recently issued by the Ho Chi Minh City Stock Exchange, AGM shares of An Giang Import-Export Joint Stock Company (ANGIMEX) will be put under control from September 10, 2024.

According to Decision 504 of the Ho Chi Minh City Stock Exchange, AGM shares of An Giang Import-Export JSC were put under control due to accumulated losses exceeding the actual contributed charter capital in the 2024 audited semi-annual consolidated financial statements, which is a case of securities under control according to regulations.

AGM shares continue to remain under control according to Decision No. 129 dated March 29, 2024 because the profit after tax is negative VND 98.3 billion and the undistributed profit after tax is negative VND 264.2 billion based on the audited consolidated financial statements for the first half of 2024. The shares do not meet the regulations at Point b, Clause 4, Article 38 of the Regulations on listing and trading of listed securities.

AGM shares continue to remain under the warning status according to Decision No. 128 dated March 29 of HoSE due to the audit organization's control opinion except for the audited financial statements of the listed organization for 2023, which are cases of securities being warned according to the provisions of Point c, Clause 1, Article 37 of the Regulations on listing and trading of listed securities.

AGM shares are also subject to control under Decision No. 466 dated August 2, 2024 of HoSE due to negative equity in the most recent consolidated financial statements except for the annual audited financial statements, which is a case of securities subject to control under regulations.

ANGIMEX operates in the field of food, agricultural materials, trade and services.

An Giang's consolidated interim business performance report for the 6-month financial period ending June 30, 2024 shows that after-tax profit in the first 6 months of this year was negative VND98.3 billion - a sharp decrease compared to the negative VND54.6 billion recorded in the same period in 2023.

As of June 30, 2024, the Group had an accumulated loss of VND264.2 billion, exceeding its equity by VND82.2 billion. Current liabilities were VND931.9 billion larger than current assets. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. The Group's ability to continue as a going concern depends on its ability to operate profitably in the future. Therefore, the financial statements for the 6-month period ended June 30 were still prepared on the basis that the Group would continue to operate for the next 12 months.

On August 28, An Giang reported to the State Securities Commission and Ho Chi Minh City Stock Exchange explaining the difference in audited after-tax profit for the first 6 months of 2024 compared to the first 6 months of 2023.

Regarding the audited separate semi-annual financial report for 2024: In the first half of this year, the company recorded a decrease in revenue of VND 4,585 million, a decrease of 7% compared to the same period, financial expenses and provision expenses increased compared to the same period, which is the main reason why the company's business results in the first 6 months of 2024 were higher than the same period.

Profit after tax in the first 6 months of 2024 in the separate financial report is negative 62.9 billion VND, down 138% over the same period in 2023.

Regarding the audited consolidated financial statements for the first half of 2024: In the first 6 months of this year, consolidated net revenue decreased by VND 170,731 million, equivalent to a decrease of 53% compared to the same period because the company no longer recorded consolidated revenue from divested subsidiaries. Similar to the separate financial expense report, the increase in provision expenses compared to the same period was the main reason why the company's first half of 2024 business results were higher than the same period.

After-tax profit for the first 6 months of 2024 in the consolidated financial report was negative VND98.3 billion, down 70% over the same period last year.

According to the introduction, An Giang Import Export Joint Stock Company, formerly An Giang Foreign Trade Company, was established in 1976. In 2007, the company officially transformed into a Joint Stock Company.

According to the business registration certificate, ANGIMEX's charter capital is 182 billion VND, including 18.2 million shares. The enterprise specializes in rice milling and raw flour production; rice polishing and exporting; food and foodstuff trading; motorbike and spare parts trading; fertilizer production and agricultural chemical trading.

Currently, Mr. Le Tien Thinh holds the position of Chairman of the Board of Directors. Mr. Huynh Thanh Tung holds the position of General Director. The position of Deputy General Director is held by Mr. Bui Viet Dung and Ms. Nguyen Thi Thu Hoa.

Thu An

Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/co-phieu-agm-cua-ctcp-xuat-nhap-khau-an-giang-bi-kiem-soat-tu-ngay-10-9/20240903032954743