According to the decision from VSDC, the reason for the suspension is that the transactions arising on July 10, 2025 of Hoa Binh Securities Joint Stock Company ( HBS) were removed from the system due to failure to ensure payment. Specifically, there were 9 transactions with a total volume of 39,200 shares that were not paid according to regulations.
During the suspension period, HBS will not be allowed to perform activities such as accepting deposits, freezing securities, or transferring securities outside the trading system. Only special cases of freezing securities at the request of competent state agencies or transactions related to ownership transfer, account settlement transfer, and transaction payment transfer will be considered for settlement.
Vietnam Securities Depository and Clearing Corporation (VSDC) requested HBS to review all business processes, strengthen internal controls and strictly comply with regulations to prevent the situation of transactions being rejected from continuing.
Decision on moving
How are HBS's business results?
Not only facing operational problems, Hoa Binh Securities' recent financial situation is also not very optimistic. The financial report for the first quarter of 2025 shows that the company's total operating revenue only reached nearly 6.9 billion VND, down 25% compared to the same period last year.
Of which, profit from financial assets recorded through profit/loss (FVTPL) decreased sharply by more than 65.1% compared to the same period, reaching only VND 822.5 million. Profit from investments held to maturity (HTM) reached more than VND 3 billion. Revenue from brokerage activities - a core source of income - reached only more than VND 81.2 million, although increasing slightly by 21.4% but still at a low level compared to the current market size.
Operating expenses during the period reached nearly VND 1.3 billion, a slight increase over the same period, while the company did not record financial expenses. As a result, HBS's after-tax profit was only nearly VND 2.5 billion, plunging nearly 45.7% compared to the same period in 2024.
As of March 31, 2025, HBS's total assets reached nearly VND 369.1 billion, a slight increase compared to the beginning of the year. Of which, financial assets accounted for the majority, at VND 319.1 billion - equivalent to 86.5% of total assets. Total liabilities reached nearly VND 3.8 billion, down 37.7%, of which the welfare reward fund was nearly VND 1.3 billion, accounting for 34.2% of total debt.
Securities depository is the act of receiving, storing, and transferring securities for customers, helping customers exercise rights related to deposited securities.
(Clause 34, Article 4 of the Securities Law 2019)
Source: https://phunuvietnam.vn/ly-do-co-phieu-hbs-cua-chung-khoan-hoa-binh-bi-dinh-chi-luu-ky-20250717104529876.htm
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