On December 18th, QCG shares closed at VND 17,000 per share, marking a 4.29% increase from the previous session. Trading volume surged dramatically, exceeding 7.6 million units.
Notably, at several points during the session, buy orders for this real estate stock reached millions of units at the ceiling price.
QCG shares experienced a significant rally following the announcement that the Quoc Cuong Gia Lai Shareholders’ Meeting had officially approved a robust restructuring plan for 2025.
Specifically, on December 17th, Quoc Cuong Gia Lai completed the written shareholder vote on the capital divestment and business cooperation plan, achieving a 61.74% approval rate.
The newly adopted resolution paves the way for the company’s leadership to implement two key strategies in 2025:
First, divesting from subsidiaries and affiliates. Quoc Cuong Gia Lai will transfer its capital contributions in subsidiaries and affiliates within 2025. The transfer price is set at no less than the initial investment cost, with an independent valuation firm involved. Notably, the pool of potential transferees is maximized, including related parties, provided they demonstrate financial capability.
Second, opening projects to partners. Shareholders also approved Quoc Cuong Gia Lai’s collaboration with external investors, including related parties, on its real estate products and projects.
This restructuring move is seen as a financial reorganization step, aimed at settling debts arising from the promised purchase and sale contract for the Bac Phuoc Kien Residential Area project with Sunny Island Investment Corporation – a company linked to Truong My Lan (valued at VND 2,882 billion).
Spectacular turnaround as investors aggressively buy back QCG shares in the December 18th session.
Previously, QCG shares experienced two consecutive floor sessions (dropping 6.91% on December 16th and 6.86% on December 17th), with millions of sell orders at the floor price.
The stock’s downward spiral began after news surfaced that Nguyen Thi Nhu Loan, Chairwoman and CEO of Quoc Cuong Gia Lai, was proposed for prosecution on charges of “Violating regulations on management and use of state assets, causing losses and waste.”
Investigators concluded that Nguyen Thi Nhu Loan benefited from and was responsible for over VND 297.8 billion.
Business results fall short of annual plan
In terms of business performance, Quoc Cuong Gia Lai recorded a 46% increase in net revenue to VND 354 billion in the first nine months. Pre-tax profit quadrupled year-on-year to VND 46 billion.
However, these figures remain far from the 2025 business plan approved by the Shareholders’ Meeting, which targeted VND 2,000 billion in revenue and VND 300 billion in pre-tax profit.
Critical Decision by Quoc Cuong Gia Lai Shareholders Following Former Chairman’s Proposed Prosecution
The Annual General Meeting of Shareholders (AGM) of Quoc Cuong Gia Lai Joint Stock Company (QCG) has officially approved a robust restructuring plan for 2025. Under this strategy, the company will divest capital from its subsidiaries and forge new investment partnerships, including transactions with related parties.
QCG Stock Plunges to Floor After 4 Consecutive Ceiling Sessions
QCG shares reversed their upward trend, ending a four-day streak of consecutive upper limits, following the proposed prosecution of former Chairwoman Nguyen Thi Nhu Loan in a case involving over VND 542 billion in losses at the Vietnam Rubber Group.
QCG Plummets After Nguyen Thi Nhu Loan’s Prosecution Recommendation: Four Consecutive Sessions Turn from Resilient to Limit Down
Investor sentiment turned sharply negative, triggering a wave of panic selling. However, liquidity dried up significantly compared to previous sessions, exacerbating the market’s downturn.
“Former HCMC Vice Chairman and Nguyen Thi Nhu Loan Proposed for Prosecution”
The Ministry of Public Security has finalized its investigation, recommending the prosecution of Ms. Nguyễn Thị Như Loan, Chairwoman of Quốc Cường Gia Lai, and former Vice Chairwoman of the Ho Chi Minh City People’s Committee, Nguyễn Thị Hồng, along with 20 other defendants, on five criminal charges.
Unveiling the Turbulent Journey of Quoc Cuong Gia Lai
QCG shares have hit their upper limit for three consecutive sessions, reflecting market optimism surrounding the company’s dividend distribution plan and its strategy to divest from a subsidiary, aiming to fully settle outstanding debts with partner Sunny Land.
