HCMC – SMC Trading Investment JSC is facing the possibility of being delisted from the Hochiminh Stock Exchange (HOSE) due to an after-tax loss of VND286.71 billion in 2024, its third consecutive year of losses.
SMC is currently under controlled securities status according to Decision No. 155 dated April 3, 2024, because the company reported losses in its audited financial statements for both 2022 and 2023.
On January 24, 2025, HOSE received SMC’s Q4 2024 separate and consolidated financial statements, confirming continued after-tax losses of VND223.82 billion and VND286.71 billion for the year, respectively.
According to regulations on delisting public company shares in cases where business operations incur losses for three consecutive years, HOSE noted that SMC shares may face mandatory delisting if the company’s audited financial statements for 2024 show continued business losses.
Previously, SMC said that the steel market continues to face many challenges as steel prices keep declining. In particular, domestic demand remains low due to the ongoing real estate market difficulties, directly impacting the company’s output and revenue.
Closing the trading session today, February 11, SMC inched up by 0.52% day-on-day to VND5,790, with 587,000 shares changing hands.
On the southern bourse, the VN-Index added 5.19 points, or 0.41%, against yesterday’s session, at 1,268.45 points, with 257 winners and 219 losers.
Around 628.7 million shares worth VND14.2 trillion were transacted, down by 21% in volume and 25% in value compared to the previous session. Block deal transactions contributed nearly VND1.5 trillion to the overall value.
Two major stocks, FPT and HPG, made the biggest contributions to the index, adding a total of over two points. HPG rose by 2.8% to VND26,050, with a trading volume of 28.8 million shares, while FPT increased by 2.4% to VND145,300, with over 5.3 million shares traded.
Bank stocks TCB, VPB, and SHB saw trading volumes ranging from 15.6 million to nearly 30 million shares. TPB led the market with over 42.5 million shares traded, despite only modest price gains of 0.3%.
On the northern bourse, the HNX-Index inched up by 0.9 point, or 0.39%, day-on-day, closing at 228.87 points, with 115 advancers and 59 decliners. The total trading volume exceeded 57.1 million shares worth a total of VND745.2 billion.
