DDG Chairman registers to buy 1 million shares but unexpectedly cancels the deal

DDG’s chairman, Nguyen Manh Hieu, registered to buy 1 million shares of Dong Duong Investment and Import-Export Company (DDG) for personal investment, but later announced he would not proceed due to a change in plans and personal financing arrangements. The disclosure was made by Mr. Nguyen Manh Hieu, Chairman of DDG’s Board.

According to the registration, the proposed trading period was from late March, with execution planned between March 26 and April 24. During this window, DDG’s share price declined from 1,000 dong per share to 700 dong per share, continuing a multi-year downtrend.

Trading restrictions and delayed financial filings

Although the registration period covered about one month, DDG’s shares were traded only in five Friday sessions each week. This was linked to restrictions after the company filed its 2025 semi-annual consolidated financial statements reviewed beyond 45 days.

DDG also received warnings for late filing of both standalone and consolidated financial statements for 2025 audited beyond 15 days. The audited consolidated financial statements for 2025 showed accumulated losses.

Further restrictions were imposed for multiple reasons, including late filing of audited financial statements for 2024 and 2025; net losses in 2023 and 2024; auditor’s opinions with qualifications on the 2023 and 2024 consolidated statements; late filing of 2024 standalone and consolidated statements audited beyond 30 days; and late filing of 2024 mid-year statements audited beyond 30 days.

As a result of the warnings and controls, DDG was removed from the margin cut list on the Ha Noi Exchange. The timeline for margin relief to be restored was pushed further back after the exchange added another reason related to late publication of audited financial statements by five working days, effective from 17/04.

Additional insider registration

In a separate development, Mr. Yang Tuan An, the company’s governance head, registered to buy 1 million shares for personal investment. The planned trading window was 03-29/04, and there is no notice of the outcome yet.

Mr. Yang Tuan An has repeatedly not completed the registered trades. He is the son of the company’s CEO, Tran Kim Sa, and the nephew of Deputy CEO Tran Kim Cuong.

Based on DDG’s 2025 governance disclosures, the family holds more than 7 million shares, representing about 8.78% of DDG.

Business performance and reported losses

DDG has recorded losses for three consecutive years from 2023 through 2025. In 2025, the company reported a loss of 334 billion dong, and Q4 recorded no revenue.

DDG attributed the weakness to a sharp drop in revenue from trading activities, reduced steam heating system capacity, or shutdowns due to lower production and maintenance.