A Sneaky Stock Purchase: One Individual’s Fine and the Unexpected Market Twist.

This individual's purchase of additional shares resulted in a significant increase in ownership, taking their stake to 5.03%. However, they failed to disclose this change, which could have potential implications for both the company and the individual. This raises questions about transparency and compliance, especially as such a substantial change in ownership could influence decision-making and the direction of the company.


On July 8, the State Securities Commission (SSC) imposed an administrative fine on Ms. Luu Hai Hoa for failing to report her ownership of more than 5% of the voting shares of a public company. The fine amounted to VND 60 million.

According to the SSC’s decision, on October 17, 2023, Ms. Hoa purchased 1,500 shares of Vicem Hai Phong Packaging Joint Stock Company (stock code: BXH), increasing her post-transaction ownership ratio from 4.98% to 5.03%. However, the Hanoi Stock Exchange did not receive a report from Ms. Hoa regarding her status as a major shareholder.

Vicem Hai Phong Packaging Joint Stock Company, formerly known as Hai Phong Cement Packaging Enterprise, has been operating since 2004. In 2008, the company was approved as a public company, and in November 2009, its shares officially began trading on the HNX. BXH’s main business activities include producing and trading cement bags and other types of packaging, as well as renting out office space, warehouses, and yards.

In terms of financial performance, BXH’s total revenue in 2023 showed a slight increase to over VND 219 billion. However, its net profit decreased by more than 21% to nearly VND 1.6 billion. For 2024, the company set more conservative targets, with a revenue goal of VND 157 billion and a net profit target of VND 752 million. Their production target for the year is set at 31 million cement bags of various types.

Notably, BXH shares on the stock exchange witnessed an impressive performance in recent sessions. After a period of stagnating at the reference price, BXH’s share price surged in the last three sessions, with two sessions hitting the ceiling price. As a result, the share price rose by nearly 25% to VND 19,800/share.

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