The Vietnam Stock Exchange (VNX) has issued Decision No. 93/QĐ-SGDVN, partially suspending trading activities for Hoa Binh Securities Corporation (stock code: HBS).
Specifically, VNX has suspended HBS’s purchasing activities on both the listed and registered trading markets at the Ho Chi Minh City Stock Exchange (HoSE) and the Hanoi Stock Exchange (HNX), effective from November 28, 2025.
This suspension is due to the State Securities Commission (SSC) placing HBS under special control through Decision No. 816/QĐ-UBCK dated October 23, 2025.
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According to Decision No. 816/QĐ-UBCK dated October 23, 2025, the SSC placed HBS under special control as per Clause 1(c), Article 16 of Circular 91/2020/TTBTC issued by the Ministry of Finance on November 13, 2020. This circular outlines financial safety indicators and measures for securities firms failing to meet these standards.
The special control period will not exceed four months from the date HBS was placed under this status.
Additionally, the SSC has mandated HBS to disclose detailed financial reports, including the causes and remediation plans, in compliance with regulatory requirements.
HBS is prohibited from entering into new margin trading agreements or extending existing ones. The company must also halt margin lending activities and report to the SSC within 48 hours of being placed under special control.
Furthermore, HBS must adhere to the disclosure requirements outlined in Circular 96/2020/TTBTC dated November 16, 2020, issued by the Ministry of Finance, regarding information disclosure on the stock market.
Earlier in October 2025, the Hanoi Stock Exchange (HNX) issued Decision No. 1218/QĐ/SGDHN, restricting trading of HBS shares.
This restriction was imposed due to HBS’s delayed submission of its 2025 semi-annual financial report, which exceeded the 45-day grace period following the deadline.
As a result, HBS shares can only be traded on Fridays, starting from October 8, 2025.
Within 15 days of this decision taking effect, HBS must submit to HNX and publicly disclose its remediation plan to address the trading restrictions.
Previously, HBS shares were moved from the warning list to the controlled list on September 22, 2025, due to the company’s delay in submitting its audited 2025 semi-annual financial report, which exceeded the 30-day grace period following the deadline.
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