Revoking the Public Company Status of Cienco1 and Song Da 1.01

The State Securities Commission of Vietnam (SSC) has announced the revocation of the public company status of CIENCO1 (Construction Engineering Corporation No.1) effective from January 29, 2026. The legal representative is Mr. Đinh Ngọc Đàn, CEO.

Established in 1964, CIENCO1 is headquartered at 623 La Thành Street, Giảng Võ Ward, Hanoi. The company operates in multiple sectors, including transportation infrastructure construction, industrial and civil construction, investment consulting, design surveys, supervision, and testing of transportation projects. Additionally, they produce construction materials, import and export transportation equipment and fuel, and operate hotels, restaurants, supermarkets, and tourism services. CIENCO1 also provides technical worker training and labor export services.

CIENCO1 is renowned for constructing landmark projects such as the Rạch Miễu Bridge, Dragon Bridge, Trần Thị Lý Bridge (Da Nang), Vĩnh Tuy Bridge (Hanoi), and highways like the Saigon-Trung Lương and Cầu Giẽ-Ninh Bình expressways.

In late December 2025, the SSC Inspectorate issued Decision No. 540/QĐ-XPHC, fining CIENCO1 VND 92.5 million for failing to disclose required information. The company neglected to publish the following documents: audited financial reports for 2023 and 2024; corporate governance reports for 2023, H1 2024, 2024, and H1 2025; annual reports for 2023 and 2024; and shareholder meeting resolutions for 2024 and 2025.

The SSC also revoked the public company status of Sông Đà 1.01 (SJS, UPCoM), located at CT1 Văn Khê Building, Văn Khê Urban Area, Hanoi. The legal representative is Mr. Tạ Văn Trung, Chairman and CEO.

Founded in November 2003, Sông Đà 1.01 specializes in construction, infrastructure development, and real estate.

Recently, the SSC sanctioned singer Khánh Phương (Phạm Khánh Phương), a board member of Sông Đà 1.01, with a VND 100 million fine under Decree 156/2020/NĐ-CP for failing to report a planned transaction. On June 16, 2023, he sold 901,520 SJC shares without prior notification.

Nam Nhật Khang Investment Company, a major shareholder of Sông Đà 1.01, was fined VND 250 million for not registering a public tender offer. On March 31, 2023, the company, along with related parties Nguyễn Văn Đức and Phạm Khánh Phương, acquired 881,600 SJC shares, increasing their combined stake from 1,822,396 shares (26.28%) to 2,703,996 shares (39%), without SSC registration.

Nam Nhật Khang must forfeit voting rights for the shares obtained through this violation and reduce its holdings below the public tender threshold within six months. The company also received a VND 50 million fine for failing to report a planned sale of 60,000 SJC shares on July 28, 2023.

Mrs. Vũ Thị Thúy, Chairwoman and CEO of Sông Đà 1.01, was fined 2% of the transaction value (VND 326.32 million) for selling 1,631,600 SJC shares on March 31, 2023, without reporting. She also faces a four-month trading suspension. Mrs. Thúy, married to singer Khánh Phương, is currently prosecuted for fraud and money laundering.