According to information from the State Securities Commission (SSC), the SSC’s Inspection Agency has issued Decision No. 221/QD-XPHC on administrative sanctions in the field of securities and the securities market regarding Loc Troi Group Joint Stock Company.
Specifically, Loc Troi Group was fined VND 85 million for failing to disclose information in English and Vietnamese on the SSC’s disclosure system, the Hanoi Stock Exchange’s (HNX) electronic information portal, and the company’s website for the following documents: Second and consolidated quarterly financial statements for Q2/2024, Q3/2024, Q4/2024, Q1/2025, and Q2/2025; Semi-annual reviewed separate and consolidated financial statements for 2024; Separate and consolidated audited financial statements for 2024; and the 2024 Annual Report.
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The company disclosed information with incorrect timing on the SSC’s disclosure system, HNX’s electronic information portal, and the company’s website for the 2024 Corporate Governance Report in English, as stipulated in Clause a, Point 4, Article 42 of the Government’s Decree No. 156/2020/ND-CP dated December 31, 2020, on administrative sanctions in the field of securities and the securities market (Decree No. 156/2020/ND-CP).
The company was also fined VND 125 million for misrepresenting the consolidated after-tax profit (PAT) figure for 2023 in the self-prepared consolidated financial statements for Q4/2023. Specifically, the PAT for 2023 in the consolidated financial statements for Q4/2023 was VND 265,095,628,755, but the PAT for 2023 in the audited consolidated financial statements for 2023 was VND 16,493,205,625.
Loc Troi Group is required to take remedial measures by canceling or rectifying the information as prescribed in Clause 6, Article 42 of Decree No. 156/2020/ND-CP, amended and supplemented according to the provisions in Point d, Clause 33, Article 1 of Decree No. 128/2021/ND-CP, regarding the act of disclosing inaccurate information.
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