HCMC – Hoang Quan Consulting-Trading-Service Real Estate Corporation (HOSE: HQC) has been warned over its failure to promptly disclose information about a court ruling related to a customer dispute.
On December 23, the Hochiminh Stock Exchange (HOSE) said HQC had not complied with regulations on extraordinary information disclosure. The warning followed a review of the company’s handling of a civil appellate judgment issued by the HCMC People’s Court.
On December 4, HOSE sent an official request asking HQC to check its disclosure of Civil Appellate Judgment No. 623/2025/DS-PT dated June 5, 2025. The exchange said it only received HQC’s disclosure document on December 18, despite the ruling having taken legal effect more than six months earlier.
Under Circular 96/2020/TT-BTC, publicly listed companies are required to disclose extraordinary information within 24 hours of receiving a court judgment or decision that has legal effect and is related to their operations.
HOSE said it had “strictly reminded” HQC to comply with reporting and disclosure rules in the securities market to protect shareholders’ interests.
According to the appellate judgment, the dispute involved a home purchase contract between HQC and customer Nguyen Vinh Ninh. The court ruled that HQC must continue handing over a semi-finished house at lot C2-46 in the Binh Minh project to the buyer.
The company is also required to pay VND796.5 million in compensation for delayed handover, calculated up to February 19, 2025, and a total of VND36.46 million in court fee, covering both first-instance and appellate proceedings.
In addition, the ruling states that HQC must pay late-payment interest on the amount above and a penalty of 1.5% per month on the total amount already paid by the buyer if the handover remains delayed after February 20, 2025.
HQC said the financial obligations arising from the ruling do not affect the company’s overall business operations. The firm said it is carrying out necessary procedures to honor the judgment.
On the business front, HQC reported third-quarter revenue of VND20.12 billion, rocketing 128.1% year-on-year. However, profit after tax reached VND8.76 billion, down 21.7% from a year earlier. Gross profit margin improved to 29.4% from 16.6%.
In the first nine months of 2025, revenue totaled VND51 billion, up 12.7% year-on-year, while net profit after tax fell 32% to VND18.13 billion.
Closing the trading session today, December 25, HQC edged down 1.29% to VND3,060, with a trading volume of over 4.9 million shares.
Vietnam’s benchmark VN-Index fell nearly 40 points after selling pressure intensified during the ATC (at-the-close) session, led by a sharp sell-off in Vingroup-related stocks. On the HOSE, 87 stocks advanced and 238 others declined. Trading volume reached 830.3 million shares worth VND26.35 trillion.
The index dropped 39.97 points, or 2.24%, to close at 1,742.85. Losses accelerated during the ATC session as VIC and VHM, two major index heavyweights, were sold down to their daily floor prices.
Earlier in the day, the market had extended gains. The VN-Index rose for a sixth straight session in the morning and briefly crossed the 1,800-point mark for the first time. Most stocks, however, traded lower despite the index advance.
Selling pressure intensified in the afternoon. By the close, all three Vingroup stocks—VIC, VHM and VRE—had fallen the maximum 6.9%. Each recorded more than one million shares left unsold at floor prices. VRE traded more than 17 million shares, VHM 10.7 million and VIC 6.4 million. The three stocks together took away more than 27 points from the main index.
Losses spread across major sectors. Banking, securities and steel stocks all declined.
In the banking sector, only VCB and BID closed slightly higher. Other lenders fell sharply, with STB down 4.8%, TCB 2.7% and SHB 2.4%. SHB recorded the highest liquidity in the market, with 56.9 million shares traded.
All brokerage stocks ended lower. VIX led sector trading volume with 37.86 million shares and fell 2.5% to VND23,000. SSI dropped 2.7% to its session low of VND30,500.
Energy, insurance and essential aviation services stocks also declined by more than 1%. Real estate shares were among the weakest, with the sector down 5.5%. Besides Vingroup stocks hitting floor prices, DXG and HDC fell more than 3%, while PDR, KBC, DIG and KDH lost over 2%.
A few sectors moved higher, including utilities, media and entertainment, food and beverages, transportation, essential retail, pharmaceuticals and biotechnology.
On the Hanoi Stock Exchange, selling also intensified in the afternoon. The HNX-Index fell 1.62 points, or 0.64%, to 250.98. The northern market saw 49 gainers and 99 decliners, with trading volume of 68.6 million shares valued at VND1.57 trillion.
