The Ho Chi Minh City Stock Exchange (HoSE) has recently decided to place SJF shares of Sun Investment Joint Stock Company under warning from September 24, 2024.
The cause is that Sun Investment was over 15 days late in submitting its audited semi-annual financial statement for 2024, falling under the category of warned securities as per the regulations of the Council of Members of the Vietnam Stock Exchange.
Concurrently, SJF shares remain suspended from trading per Decision 726 issued on November 6, 2023, due to violations of information disclosure regulations after being placed under trading restrictions.
SJF shares are also under control per Decision 217, issued on April 16, 2024, as the auditing organization expressed an exception opinion on the audited financial statements for two consecutive years (2022 and 2023).
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Additionally, per Decision 218, issued on April 16, 2024, the company’s consolidated audited financial statements for 2022 and 2023 showed negative post-tax profits for the parent company’s shareholders.
A warning was issued per Decision 219, dated April 16, 2024, due to negative undistributed post-tax profits on the 2023 consolidated financial statement.
In terms of business performance, according to the consolidated financial statement for the second quarter of 2024, Sun Investment incurred a gross loss of over VND 3 billion during the period. After deducting taxes and fees, the company reported a net loss of nearly VND 4.6 billion in the second quarter of 2024.
For the first half of 2024, Sun Investment recorded net revenue of over VND 34.5 billion, a 41% decrease compared to the same period last year. Gross profit from sales and services was negative VND 5.6 billion, although this figure improved compared to the gross loss of VND 7.6 billion in the first half of 2023. For the first two quarters of 2024, the company incurred a loss of VND 8.2 billion after tax.
As of the end of the second quarter of 2024, the company’s total assets amounted to nearly VND 765 billion. Short-term debts stood at VND 260 billion, while total short-term and long-term financial loans and lease debts were nearly VND 163 billion.
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