The Hochiminh Stock Exchange (HOSE) has written to Vietnam Airlines JSC warning that HOSE’s airline’s HVN shares may be delisted as the company has suffered losses for three years in a row.
According to local media, HOSE said that as of June 1, 2022 it had maintained its decision to keep an eye on HVN shares as the airline’s equity was minus VND 2.16 trillion, based on Vietnam Airlines’ consolidated financial report on the first quarter of 2022 and the negative result thereafter. tax profit reflected in the 2021 and 2022 audited financial statements.
According to the flag carrier’s fourth quarter 2022 consolidated financial report, Vietnam Airlines14 reported an after-tax loss of VND 2.585 trillion in the last quarter of last year, a 2.3-fold increase from the same quarter in 2021.
In 2022, after-tax profit minus VND 10.4 trillion; undistributed profit after tax as of December 31 last year was minus VND 34 trillion, while shareholders’ equity at that time was minus VND 10.1 trillion. To date, Vietnam Airlines has reported financial losses for 12 consecutive quarters.
Under the applicable regulations, a listed company’s share is delisted if it has incurred losses in its business operations for three consecutive years, or if total accumulated losses exceed charter capital, or if its equity is negative, as evidenced by the most recent audited financial reporting.
At the close of trading today, February 2, HVN was down 2.6% to VND 13,100.
The benchmark UN Index on HOSE bounced back slightly, adding 1.62 points, or 0.15% from the session earlier at 1,077.59, with 111 winners and 308 losers.
Trading on the southern stock market contracted nearly 40% in volume and 37% in value from the previous session, to more than 634 million shares and about VND 11 trillion, including more than VND 1.1 trillion worth of shares traded in block deals. traded.
Meanwhile, the Hanoi Stock Exchange’s HNX Index lost 0.7 points, or 0.32% day-to-day at 215:31, with 59 stocks rising and 104 falling, the Saigon Times reported.
@ News Network
