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Vietnam Construction and Electric Vietnam Joint Stock Company (ticker VNE-HOSE, “VNE”) has issued an explanatory note regarding information disclosure for the sale of 562,602 VE4 shares on January 9, 2026. The disclosure relates to a request from the Hanoi Stock Exchange (HNX) under letter No. 1136/SGDHN-QLNY dated May 6, 2026, concerning signs of potential information disclosure violations for the January 9 transaction.
VNE states that it is the parent company of VE4. According to VNE, the batch of 562,602 VE4 shares referenced in the transaction is currently an asset seized by the Da Nang City Civil Judgment Enforcement Office (THADS).
VNE says that on the transaction date, January 9, 2026, it did not execute any sale order and did not receive any notification from THADS regarding the sale of pledged shares. VNE also states it did not receive any document approving or consenting to the sale of this block of securities.
VNE further explains that, because it was not the entity actively conducting the transaction, it faced objective obstacles that prevented it from disclosing information in accordance with Circular 96/2020/TT-BTC. Specifically, as of January 9, 2026, VNE had not received any notice from Da Nang THADS regarding the timing or method of sale for the pledged block of shares.
VNE adds that, since it did not receive an asset sale plan from the authorities and the company itself did not agree to transact at that time, there was no basis to prepare a “Share Transaction Notice” to HOSE within the statutory timeframe before the transaction occurred.
VNE states that, to date, it has not received official notice of the sale outcome or related documents from Da Nang THADS. As a result, the company says it lacks the legal documents required to report the transaction results under the prescribed procedures.
VNE also asserts that the failure to publish information about the anticipated transaction is a force majeure event arising from the enforcement process on the seized asset, over which the company has no control. VNE therefore asks HNX to consider this special context and not treat the matter as a violation, and says it will publish supplementary information as soon as it receives official documents from Da Nang THADS.
Separately, HOSE announced moving VNE from the warning category to the control category starting May 13, 2026, due to the listed entity’s delay in submitting its 2025 audited financial statements beyond the permitted period.
VNE shares are also monitored under other regimes, including control under various HOSE decisions related to audit opinions on consolidated financial statements and other metrics.
For VE4, HNX states that the stock remains under the warning category due to negative retained earnings as of December 31, 2025, based on VE4’s 2025 financial statements audited by International Audit and Valuation LLC.
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