Fat Racing Group Joint Stock Company (Stock Code: DFF) announced that in just three trading sessions, Mr. Le Duy Hung, Chairman of the Board of Directors of Fat Racing Group, had a total of over 14.7 million DFF shares sold by securities companies for debt settlement, reducing his ownership from 42.16% to 23.73%. Mr. Hung’s DFF holdings decreased from over 33.7 million shares to nearly 19 million shares.
On August 19, 2025, Mr. Hung had over 11.6 million shares sold for debt settlement; on August 20, 2025, 493,500 shares were sold; and on August 21, 2025, nearly 2.6 million shares were sold.
Based on the average closing price of VND 1,567 per share during the above three sessions, the estimated value of the Chairman’s sold shares exceeded VND 23 billion.
During this period, Mr. Hung’s brother, Mr. Le Van Thinh, also had nearly 780,000 shares (0.97%) sold for debt settlement and no longer holds any DFF shares.
As of year-to-date, the Chairman of DFF has had over 18.7 million shares, equivalent to more than 23% of capital, sold for debt settlement.
The forced sale of the DFF leader’s shares comes amid a prolonged downward trend in stock prices, which closed at VND 1,300 per share on August 22, down 24% from the beginning of the year and more than 50% over the past year, with an average liquidity of over 577,000 shares per session.
The company has been facing prolonged downward pressure on its stock price due to its lackluster financial performance.
DFF’s prolonged share price decline is linked to its disappointing financial results. In Q2 2025, the company reported a loss of over VND 203 billion, marking its eighth consecutive quarterly loss. As of June, the company’s accumulated loss exceeded VND 882 billion, surpassing its current equity of VND 800 billion.
In its explanation to the regulatory authorities, DFF attributed the losses primarily to the challenging economic conditions in Vietnam, particularly in the real estate sector, which directly impacts the company’s business operations, resulting in continued negative profits.
“Chairman of Fat Racing Group Forced to Sell Over 14.7 Million DFF Shares in Margin Call”
“In a recent development, Mr. Le Duy Hung, Chairman of the racing giant Fat Group, has witnessed a substantial shift in his shareholdings. Due to a forced sale by a securities company, over 14.7 million DFF shares were offloaded, resulting in a notable decrease in Mr. Hung’s ownership stake to 23.73%. This development has undoubtedly sparked interest and raised questions within the business community.”
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