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Ho Chi Minh Stock Exchange (HoSE) has issued a notice to Phân lân Văn Điển Joint Stock Company (VAF) regarding its disclosure obligations following delays in publishing its Q1 2026 financial statements and an explanation for a year-on-year profit discrepancy.
On 23 April 2026, HoSE received VAF’s Q1 2026 financial statements. On 24 April 2026, HoSE also received a disclosure explaining that the profit after tax reported for Q1/2026 differed by more than 10% compared with the same period last year.
Under Circular 96/2020/TT-BTC dated 16 November 2020 on stock market information disclosure and Circular 68/2024/TT-BTC dated 18 September 2024 amending relevant provisions, VAF delayed the disclosure of its Q1 2026 financial statements (in both Vietnamese and English) and the accompanying explanation regarding the after-tax profit variance.
HoSE urged VAF to promptly disclose the Q1 2026 financial statements in English and to strictly comply with legal requirements for reporting and disclosure on the stock market.
Earlier, in mid-March 2026, HoSE also sent a notice to Văn Điển regarding delisting. VAF shares are currently under restricted trading pursuant to Decision 142/QĐ SGDHCM dated 13/3/2025 issued by the HoSE CEO.
The restriction is linked to the audit firm’s adverse opinion on VAF’s financial statements for the years 2023 and 2024, which were audited for two consecutive years. On 16/3/2026, HoSE received the 2025 audited financial statements from AASC, which subsequently issued an adverse opinion on the company’s BCTC. As a result, the audit firm issued adverse opinions on the BCTC for 2023, 2024, and 2025.
Under point h, clause 1, Article 120 of Decree 155/2020/NĐ-CP dated 31/12/2020, VAF shares fall into the mandatory delisting category. Accordingly, HoSE announced it will implement mandatory delisting for VAF in line with the relevant regulations.
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