The company suffered accumulated losses of several hundred billion, the chairman resigned due to health reasons.

Mr. Nguyen Van Hop, Chairman of the Board of Directors of Haforexim (born in 1957), said the reason for his withdrawal from the company was due to poor health.

Haforexim Chairman resigns due to health reasons - Illustration photo

Thanh Ha Production - Import Export Joint Stock Company - Haforexim (HFX) has just announced the receipt of the resignation letter of Mr. Nguyen Van Hop - Chairman of the Board of Directors.

In the application submitted on July 10, Mr. Nguyen Van Hop (born in 1957) said the reason for his withdrawal from the company was due to poor health.

According to the 2024 annual report, Haforexim is a company established in 1992 with the original name of Thanh Ha Import-Export Company, under Haprosimex Corporation.

In 2005, the company was equitized and renamed as it is now. Haforexim produces and exports tea, cinnamon, cotton towels (fiber towels, bath towels...) and some other agricultural products.

Notably, the company's chairman resigned in the context of Haforexim reporting losses for many consecutive years, from 2010 to present.

The 2024 financial report shows that the company suffered a loss after tax of more than VND 11.1 billion, while net revenue increased slightly compared to the previous year, reaching VND 22,914 billion.

Due to the faster increase in cost of goods sold, HFX's gross profit decreased, gross profit was only over 3.8 billion VND, while last year it was nearly 4.5 billion VND.

The loss-making business results for more than a decade have made HFX's financial situation difficult. On the balance sheet, the company recorded an accumulated loss of nearly VND265 billion at the end of 2024.

While short-term debt is nearly 260 billion VND, total short-term assets are only over 16.17 billion VND. Owner's equity is negative by nearly 238 billion VND.

Currently, HFX shares are under warning since 2023, due to being audited for three consecutive years.

In addition, this stock is still subject to trading restrictions due to negative equity, and can only be traded every Friday according to regulations of the Hanoi Stock Exchange.

According to the resolution of the 2015 shareholders' meeting, HFX will restructure the company's finances, collect outstanding debts, and create jobs for employees with a revenue target of 20 billion VND...

BINH KHANH

Source: https://tuoitre.vn/cong-ty-ganh-lo-luy-ke-vai-tram-ti-chu-tich-xin-tu-chuc-vi-ly-do-suc-khoe-20250712111314303.htm