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Shares of Halong Canfoco Joint Stock Company (CAN) were placed under trading control by the Hanoi Stock Exchange (HNX) on May 11 after the issuer failed to submit its 2025 standalone and consolidated audited financial statements within the statutory deadline, more than 30 days late.
Under the HNX decision, within 15 days from the effective date (May 13), the company must provide HNX and publish information including remedial measures and a plan to address the trading restriction.
Separately, HNX had previously added CAN to the margin trading warning list from April 29.
On January 10, 2026, the Hai Phong Police arrested Truong Sỹ Toàn, CEO of Halong Canfoco, to investigate the purchase of more than 130 tonnes of swine infected with African swine fever, including some produced into canned pâté (“Pate den”).
Three other company staff members were also arrested and are linked to inspection and quality control of pork before storage and processing.
Following the case, Halong Canfoco announced a temporary 14-day suspension of production at the Ha Long – Hai Phong canned plant from January 12, 2026. During the suspension, operations were temporarily run by Cao Nhật Huy, Deputy Production Director.
By end of Q1 2026, CAN’s net revenue declined 24% to VND 109.2 billion. Gross profit fell 57% to about VND 14.7 billion.
Net profit after tax turned into a loss of about VND 4.0 billion, compared with a loss of VND 0.395 billion in the same period last year.
Consolidated profit before tax for Q1 2026 was a loss of VND 2.237 billion, down VND 2.1 billion year over year, representing a 1,538% decrease.
The main factor cited was a 24% fall in net revenue from sales and services (mainly from exports), while cost of goods sold decreased by 13%.
Financing costs rose 43% due to higher debt. Selling expenses fell 58%, and administrative expenses fell 25% year over year. Despite these reductions, the company still recorded consolidated losses before and after tax of VND 2.237 billion and VND 4.084 billion, respectively.
In Q1 2026, net revenue and financing revenue were VND 109.202 billion and VND 1.984 billion. However, this combined amount was insufficient to cover cost of goods sold and operating costs, resulting in a loss before and after tax.
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