According to the State Securities Commission (SSC), the public company status of Ea Pöck Coffee Joint Stock Company (Address: Km 14 Provincial Road 8, Quang Phu Commune, Dak Lak Province) has been revoked.
Previously, in Ea Pöck Coffee’s 2024 financial report, auditors highlighted concerns about the company’s ability to continue operating.
Specifically, the auditors stated that the accompanying financial statements fairly and reasonably reflect the company’s financial position as of December 31, 2024, as well as its operating results and cash flows for the fiscal year ending on the same date. These statements comply with Vietnamese Accounting Standards, the Vietnamese Enterprise Accounting System, and relevant legal provisions for financial statement preparation and presentation.
While no exceptions were noted, the auditors drew attention to Note 2.5, which indicates that the company incurred a net loss of VND 4,952,451,787 for the fiscal year ending December 31, 2024. As of that date, the accumulated losses totaled VND 54,611,587,748, and the company’s short-term liabilities exceeded its short-term assets by VND 5,307,226,249.
The auditors concluded that these conditions, along with the information presented in Note 2.5, indicate a material uncertainty that raises significant doubt about Ea Pöck Coffee’s ability to continue as a going concern.
Image: Ea Pöck Coffee
The legal representative of Ea Pöck Coffee is Mr. Ngo Van Hung, Chairman of the Board of Directors.
Additionally, Mr. Ngo Van Hung is known as the Chairman and legal representative of several companies operating in various sectors.
One notable example is Le Delta JSC, established on October 31, 2005, with its headquarters at A6 Lot A, Zone 5.2ha, Yen Hoa Ward, Cau Giay District, Hanoi.
As of August 2018, Le Delta’s charter capital was VND 500 billion, with Mr. Ngo Van Hung holding 98% of the shares as the largest shareholder.
According to a registration change in November 2021, the company’s charter capital increased from VND 1,501 billion to VND 2,500 billion. The shareholder structure was not disclosed. At that time, Mr. Hung held key positions as the Legal Representative, Chairman of the Board, and CEO of Le Delta.
Le Delta is considered the core entity within Ngo Van Hung’s business ecosystem, serving as the investor for numerous large-scale projects across various sectors.
In the renewable energy sector, Le Delta’s subsidiaries—Le Delta 1 LLC, Le Delta 2 LLC, and Le Delta 3 LLC—are the investors behind three rooftop solar power projects named “Rooftop Solar Power System.” These projects, with capacities ranging from 1,164.24 kWp to 1,199.42 kWp, are located in Ea Pöck Town, Cu M’gar District, Dak Lak Province, and utilize land leased from Ea Pöck Coffee (the company chaired by Ngo Van Hung, as mentioned earlier).
Le Delta also has ambitions in the real estate sector. In 2016, Le Delta partnered with Tay Giang Group and Power Construction JSC (PC1, HoSE) to establish Hoang Gia Cao Bang JSC, with ownership stakes of 30%, 40%, and 30%, respectively. Hoang Gia Cao Bang is the developer of the Royal Hotel Cao Bang project, with a total investment of VND 624.775 billion.
According to Decision No. 193/QĐ-TTg signed by Deputy Prime Minister Le Minh Khai on February 23, 2024, Ngo Van Hung’s Le Delta was approved as the investor for the construction and operation of the infrastructure of the Phuc Son Industrial Zone.
Detailed planning perspective of Phuc Son Industrial Zone. Source: Bac Giang Industrial Zone Management Board.
The project is located in Phuc Son and Lam Cot Communes, Tan Yen District, Bac Giang Province (now part of Bac Ninh Province), covering an area of 123.94 hectares. The total investment for the project is VND 1,836 billion.
It would be remiss not to mention HTP Technology Group JSC (HTP Group), known for operating an intermediary payment channel for e-wallets.
HTP Group’s business areas include payment intermediation (collection services, payment gateways) and trade services (focusing on a rapidly expanding commercial network across diverse industries).
HTP Group originated as Ngan Gia Phat Import-Export Trading and Service LLC, established in January 2019 with an initial charter capital of VND 1 billion, owned by Mr. Ngo Trong Tuan (born in 1973).
In March 2021, the company transitioned to a joint stock model. The shareholder structure at that time included four individuals: Nguyen Cao Ninh (2%), Ngo Van Hung (53%), Nguyen Thu Trang (20%), and Pham Thi Thuy Duong (25%). Ngo Van Hung, the largest shareholder, also held the positions of Chairman of the Board, Legal Representative, and CEO.
In August 2023, Ms. Ta Thuy Duong (born in 1993) assumed the roles of CEO and Legal Representative of HTP Group.
Entrepreneur Ngo Van Hung’s Affiliated Business Loses Public Company Status
Ea Pöck Coffee, a company associated with entrepreneur Ngô Văn Hùng, has had its public company status revoked by the State Securities Commission of Vietnam.
Bac Giang to add over VND 1,800 billion industrial park
Recently, Deputy Prime Minister Le Minh Khai has signed Decision No. 193/QD-TTg on February 23, 2024, to approve the investment project for the construction and operation of the infrastructure of Phuc Son Industrial Zone in Bac Giang province (the Project).
