Tien Phong Securities Joint Stock Company (TPS, code: ORS) has just sent an explanation to the Ho Chi Minh City Stock Exchange (HOSE) regarding the resolution of the issue that led to the stock being put on warning.
Previously, HOSE decided to place ORS stock on warning from April 16, 2025, as the auditor of TPS Securities’ 2024 financial statements, Ernst & Young Vietnam LLC, had qualified their opinion on the 2024 audited financial statements.
Specifically, the qualification mentioned a service fee receivable with a balance of VND 28,025,753,424 as of December 31, 2024.
TPS Securities announced that as of June 30, 2025, the aforementioned service fee receivable had been fully settled, and the company no longer had any balance of service fee receivable as mentioned in the auditor’s qualification in the 2024 audited financial statements.
On August 14, 2025, TPS also published its 2025 semi-annual reviewed financial statements, which were reviewed by International Audit and Valuation Company Limited, with the auditor’s conclusion being an unqualified opinion. With the above explanation, TPS respectfully requests that HOSE consider and decide to remove the warning status of ORS stock.
In the market, ORS stock showed a positive performance on August 25, 2025, contrary to the downward trend of most stocks. ORS share price surged to the ceiling price at one point before cooling down and still gaining 2.3% to VND 13,100/share.
However, the company’s business performance has not been stable after the incidents involving senior management and Bamboo Capital Group’s bonds. In Q2 2025, operating revenue decreased by 48% to VND 291 billion, with most activities such as proprietary trading and lending declining. As a result, TPS recorded a net loss of VND 105.5 billion in Q2, bringing the net loss for the first half of the year to nearly VND 113 billion.
Recently, TPS Securities has appointed a new head of administration. Ms. Nguyen Thi Ngoc Thao will assume the position of Chief of the Board of Directors’ Office and Head of Administration from August 22, 2025.
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