Why is the stock that once increased 700% now suspended from trading?

(NLDO)- KPF shares once increased by 700% but have now been suspended from trading by HoSE due to late submission of audited financial statements for the 2024 semi-annual period.

The Ho Chi Minh City Stock Exchange (HoSE) announced the decision to transfer KPF shares of Koji Asset Investment Joint Stock Company (Koji) from restricted trading to suspended trading from February 26. The reason for the suspension is that the listed organization is more than 6 months late in submitting its audited financial report for the 2024 semi-annual period compared to the prescribed deadline, which is a case of securities being suspended from trading.

A month ago, Koji reported in writing a plan to remedy the situation of KPF shares being warned. Koji said that in the fourth quarter of 2024, the company achieved some positive financial results such as debt recovery, as well as positive profit expectations from bond investments. However, due to mandatory provisions, the overall business results were affected, creating certain pressure on the financial report.

Illustration of stock trading suspension

Regarding solutions and implementation roadmap, in phase 1 (quarter IV to quarter III/2025), the company will focus on completing debt collection plans and reviewing and restructuring the existing investment portfolio to improve capital efficiency. In phase 2 (quarter III - to the end of 2025), the company will promote investment in core business areas, while implementing potential projects to create sustainable added value for shareholders and investors.

According to the self-made financial report for the fourth quarter of 2024, Koji did not record revenue but had a net profit of more than 6.6 billion VND thanks to financial activities. In total, for the whole year of 2024, Koji had no revenue at all, with a record loss of nearly 277 billion VND. Accumulated to the end of 2024, the company lost nearly 135 billion VND.

KPF shares once made an impression on investors on the stock market when they increased by 700%, or 8 times within 2 months, specifically from November 22, 2017 to January 11, 2018. However, currently, KPF has reached its lowest level in history, only 1,490 VND/share. Market capitalization is still nearly 91 billion VND.

Source: https://nld.com.vn/vi-sao-co-phieu-tung-tang-700-gio-bi-dinh-chi-giao-dich-196250220181439772.htm