HNX puts a series of stocks under trading restrictions

Recently, the Hanoi Stock Exchange (HNX) announced the transfer of shares of two enterprises, Tan Ky Construction and Real Estate Trading Joint Stock Company (HNX: TKC) and Tri Viet Asset Management Group Joint Stock Company (HNX: TVC) from controlled to restricted trading from May 25, 2023.

The reason is that the listed organization is 45 days late in submitting its audited financial report for 2022 compared to the prescribed deadline. Accordingly, TVC and TKC shares will only be traded on Fridays every week from the effective date of the decision.

According to the financial report for the fourth quarter of 2022, Tan Ky Real Estate recorded a negative revenue of more than 1.27 billion VND from sales and service provision, while in the same period in 2022 it was 32.2 billion VND. The company reported a loss of 638 billion VND in the last quarter of 2022, while in the same period it only lost more than 2.2 billion VND.

Accumulated for the whole year of 2022, Tan Ky Construction and Real Estate Trading Joint Stock Company recorded revenue of 113 billion VND, a sharp decrease of more than 70% compared to the results of 2021. Notably, the company recorded a net loss of more than 637 billion VND, while in 2021, the profit after tax was more than 150 million VND.

Tan Ky Construction and Real Estate Trading JSC was moved from controlled status to restricted trading status by HNX.

Regarding Tri Viet Asset Management, according to the consolidated financial report for the first quarter of 2023, the company recorded sales and service revenue of more than VND 18.1 billion, down 76% over the same period last year. Mainly due to the decrease in revenue from securities brokerage and margin lending activities.

However, financial revenue also decreased by 99%, falling to VND 164 million. Meanwhile, financial expenses recorded a negative VND 79 billion thanks to the reversal of securities devaluation provisions of up to VND 82.5 billion. Thanks to this target, the company's after-tax profit reached VND 80 billion, 2.6 times higher than in the first quarter of 2022.

As of March 31, 2023, Tri Viet Asset Management's total assets were recorded at VND 2,248.5 billion, unchanged from the beginning of the year. Of which, cash and cash equivalents accounted for VND 81.6 billion, an increase of 55% compared to the beginning of 2023.

In addition to the above stocks, the Hanoi Stock Exchange also maintained trading restrictions from May 22 for a series of stocks such as PVA, PCN, PID, PPI, PSG, PX1, ... due to the delay in submitting audited financial statements for 2022 more than 45 days from the prescribed deadline.

In addition, some enterprises are late in submitting annual and semi-annual financial reports of previous years, or have additional reasons such as negative equity and not holding annual General Meetings of Shareholders in the last 2 years .

Source: https://www.nguoiduatin.vn/hnx-dua-loat-co-phieu-vao-han-che-giao-dich-a609180.html