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HBC put under supervision from April 17

The Saigon Times

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HCMC – The Hochiminh Stock Exchange (HOSE) has announced that the stock of Hoa Binh Construction Group Joint Stock Company (ticker HBC) will be put under watch from April 17.

The company has not filed its audited financial statements for two consecutive years, resulting in its stock being put under supervision under the regulations of the Vietnam Stock Exchange (VNX).

Hoa Binh Construction Group has sought approval from the State Securities Commission of Vietnam to extend the deadline for filing its 2022 audited financial report until May 12 this year.

It attributed the delays in the slower-than-expected implementation of projects nationwide and the dormant real estate market.

The company in a report said it earned net revenue of over VND14.1 trillion in 2022, up 24% compared to the previous year.

Due to higher input costs, HBC reported an after-tax loss of over VND1.1 trillion, compared to a profit of VND96.97 billion the previous year.

Given the challenges ahead, HBC’s Board of Directors has set a revenue target of VND12.5 trillion this year, down 11% against 2022, and an after-tax profit of VND125 billion.

HBC closed the trading session today, April 11, down 1.2% from the session earlier at VND8,210, and reported a matching volume of over five million shares.

Regarding the stock market today, with 228 gainers and 138 losers, the VN-Index of the Hochiminh Stock Exchange added 4.11 points, or 0.39%, at 1,069.46 points.

There were 697.8 million shares worth more than VND11,591 billion changing hands, down 19% in volume and 22% in value over yesterday’s session. Some 55.1 million shares worth over VND1,239 billion were traded in block deals.

On the Hanoi Stock Exchange, the HNX-Index added 0.33 points, or 0.169%, to 212.34 points, with 81 winners and 71 losers.

The total trading volume reached 112.22 million shares valued at over VND1,654 billion.

Lender SHB took the lead by liquidity today with over 30.4 million shares transacted, followed by CEO with 15.4 million shares.

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