A series of stock codes such as HPX, TGG, AGM, TTB..., including Shark Thuy's IBC (Apax Holdings), have just been suspended from trading by HoSE for continuing to violate information disclosure regulations.
The Ho Chi Minh City Stock Exchange (HoSE) has continuously issued decisions to put stocks of a series of businesses on the subject of suspension of trading due to violations of information disclosure regulations, including: Hai Phat Investment Joint Stock Company ( code: HPX), Apax Holdings Investment Joint Stock Company (code: IBC), The Golden Group Joint Stock Company (code: TGG), An Giang Import-Export Joint Stock Company (code: AGM), Tien Group Joint Stock Company Set (code: TTB).
Specifically, HoSE previously issued a notice to remind and request the above companies to urgently publish financial report information (FS) for the second quarter of 2023 and the 2023 semi-annual reviewed financial statements in accordance with regulations . These businesses are all subject to transaction restrictions and continue to violate the regulations of not disclosing separate or consolidated financial statements for the second quarter of 2023 or semi-annual reviewed financial statements for 2023.
The most prominent among the codes that have just been suspended from trading by HoSE is HPX shares of Hai Phat Investment Joint Stock Company with Mr. Do Quy Hai as Chairman of the Board of Directors. HPX shares have been placed on restricted trading from May 16, 2023 due to late submission of 2022 audited financial statements beyond the prescribed deadline. In addition, after being placed on transaction restrictions and being reminded by HoSE, the company has not yet announced the 2023 semi-annual reviewed financial statements (separate and consolidated). It is known that on September 5, HPX signed a review contract to review separate financial statements and semi-annual consolidated financial statements for 2023 with CPA VIETNAM Auditing Company Limited.
Recently, Hai Phat Investment Joint Stock Company announced its 2022 audited financial statements with many notable changes. According to the reviewed consolidated financial statements for 2022, HPX revenue reached 1,210.4 billion VND, down 26% compared to its own report. Notably, the parent company's after-tax profit suddenly turned negative to 60.4 billion VND, while before the audit the profit was 140.5 billion VND, a decrease of 200.9 billion VND. Profit after tax according to self-reported report is more than 142 billion VND, but after audit, the loss is more than 58 billion VND. Accordingly, the company's accumulated undistributed profit as of December 31, 2022 is only 154.3 billion VND. Explaining the result of turning from profit to loss, HPX said that some customers changed their investment goals and agreed with the company to liquidate the purchase/transfer contract.
At Apax Holdings Investment Joint Stock Company, IBC shares have also been placed on restricted trading since mid-May 2023 due to late submission of 2022 financial statements. Up to now, the company has not yet announced quarterly financial statements information. II/2023 and the semi-annual reviewed financial statements in 2023. IBC shares were also previously placed on warning from July 11, 2023, because the organization listed before the annual general meeting of shareholders was held for more than 6 months. months from the fiscal year end.
Apax Holdings Investment Joint Stock Company with Mr. Nguyen Ngoc Thuy (also known as Shark Thuy) as Chairman of the Board of Directors is doing business mainly in the field of education. Recently, this company encountered a financial crisis. The Apax Leaders English center system has been involved in many scandals regarding uneven teaching quality, unpaid teacher salaries causing a shortage of teachers, and slow tuition compensation to parents when closing branches...
Regarding business results in 2022, Apax Holdings achieved revenue of 1,336 billion VND, an increase of 35% compared to 2021 results. However, pre-tax loss was up to 77 billion VND, net loss was 87 billion VND, this is a record loss in the calendar. Apax Holdings' operating history.
As of December 31, 2022, Apax Holdings' liabilities were 3,076 billion VND, an increase compared to the beginning of the year, of which total short-term and long-term financial lease loans and debts were 1,915 billion VND. Equity decreased slightly compared to the beginning of the year to VND 1,520 billion. Total assets at the end of 2022 are VND 4,596 billion.
At the end of 2022, Apax Holdings' cash is still quite abundant with nearly 737 billion VND in cash and cash equivalents, a slight increase compared to nearly 697 billion VND at the beginning of the year.
(Kien Thuc)