Son of City Auto Chairman Fails to Purchase 2.4 Million Registered CTF Shares

Mr. Trần Lâm, a member of City Auto's Board of Directors and son of Chairman Trần Ngọc Dân, failed to purchase the 2.4 million CTF shares he had previously registered to acquire.

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Recently, City Auto Joint Stock Company (Stock Code: CTF, HoSE) announced insider trading activities involving its internal personnel and related parties.

Mr. Tran Lam, a member of City Auto’s Board of Directors and son of Chairman Tran Ngoc Dan, failed to purchase the registered 2.4 million CTF shares. The transaction was canceled due to a change in plans.

Following the unsuccessful transaction, Mr. Tran Lam retains his 8.4% stake in City Auto, equivalent to over 8 million CTF shares.

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Similarly, Tan Thanh Do Group Joint Stock Company previously failed to acquire 3 million registered CTF shares due to a change in plans.

As a result, Tan Thanh Do maintains its 15.21% stake in City Auto, equivalent to nearly 14.6 million CTF shares.

Mr. Tran Ngoc Dan, Chairman of City Auto’s Board of Directors, also serves as Chairman of Tan Thanh Do. His sons, Mr. Tran Lam and Mr. Tran Long, both members of City Auto’s Board of Directors, hold positions as CEO and Deputy CEO of Tan Thanh Do, respectively.

In related news, Mr. Nguyen Van Thanh, brother-in-law of City Auto’s Chairman Tran Ngoc Dan, recently registered to sell 300,000 CTF shares to reduce his ownership stake.

The transaction is expected to take place via agreement or order matching from September 16, 2025, to October 15, 2025.

If successful, Mr. Thanh’s CTF shareholdings will decrease from nearly 2.6 million to approximately 2.3 million shares, reducing his stake from 2.68% to 2.37% of City Auto’s capital.

Regarding business performance, City Auto’s audited consolidated financial report for the first half of 2025 shows net revenue of over VND 4,095.3 billion, a 23.2% increase compared to the same period in 2024. After deductions, the company reported a net profit of nearly VND 4.1 billion, down 55.9% year-on-year.

As of June 30, 2025, City Auto’s total assets rose 5.7% from the beginning of the year to over VND 4,140.5 billion. Short-term receivables accounted for VND 2,104.5 billion, or 50.8% of total assets, while inventory stood at over VND 819.5 billion.

On the liabilities side, total debt reached over VND 3,014.8 billion, a 7.9% increase from the start of the year. Loans and financial lease liabilities totaled VND 2,483.1 billion, representing 82.4% of total debt.

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