The State Securities Commission (SSC) has just announced the cancellation of the public company status of Bamboo Capital Group Joint Stock Company (code: BCG) and BCG Land Joint Stock Company (code: BCR), effective from August 5, 2026.
The decision was made after the Ho Chi Minh City Stock Exchange (HOSE) decided to delist shares of Bamboo Capital Group Joint Stock Company (stock code BCG) and Tracodi Construction Group Joint Stock Company (stock code TCD) from July 15, 2026.
On the stock exchange, Bamboo Capital is currently listing more than 880 million shares, while TCD is listing nearly 336 million shares. Currently, these 2 codes are both being suspended from trading by HOSE.
Up to now, Bamboo Capital has not yet reported and published a series of financial statements (FS), including the audited FS for 2024, audited FS for 2025, semi-annual review FS for 2025, quarterly FS for 2025 and Q1/2026 FS, including both separate and consolidated reports. Based on current regulations, HOSE said that BCG shares are subject to mandatory delisting.
Meanwhile, HOSE said that it has received reports and announced information on the audited financial statements for 2024, 2025 (separate and consolidated) of TCD performed by A&C Auditing and Consulting Co., Ltd.
However, A&C Auditing and Consulting Co., Ltd. declined to comment on these reports. This is one of the cases where shares are forced to be delisted according to regulations, when the auditor refused to comment on the most recent year's financial statements of the listed organization.
Previously, both businesses had requested a temporary postponement of submitting the 2024 audited financial statements, the 2025 audited financial statements and the 2025 semi-annual reviewed financial statements on the grounds of force majeure. To date, both Bamboo Capital and Tracodi have not taken any action to organize the 2026 Annual General Meeting of Shareholders even though it has exceeded the deadline of June 30.
The difficult story of businesses in the Bamboo Capital ecosystem appeared after functional agencies announced the decision to prosecute Mr. Nguyen Ho Nam - former Chairman of Bamboo Capital and Ms. Huynh Thi Kim Tuyen - former Vice Chairman of Tracodi's Board of Directors - at the end of February 2025.
At the Extraordinary General Meeting of Shareholders at the end of 2025, the group's leadership also approved the business plan forecast for the period 2025 - 2030. Accordingly, in the period 2025-2027, Bamboo Capital is expected to maintain a loss-making situation. In 2025, after-tax loss of 1,843 billion VND; in 2026 loss of 301 billion VND; in 2027 loss of 76 billion VND. From 2028, the company expects to return to profit at 76 billion VND and increase to more than 300 billion VND/year in the period 2029-2030.
The Board of Directors of Bamboo Capital assesses that the key task of restructuring is to redesign the capital structure to ensure liquidity and capital recovery capacity for key projects. Bamboo Capital plans to negotiate with banks, bondholders and strategic investors in the period 2026-2030 to adjust interest rates, terms and guarantee mechanisms. At the same time, the company will seek long-term capital for core business lines.
According to Bamboo Capital's Board of Directors, the biggest challenge is choosing a suitable project. Low-profit projects may be cut to focus resources on projects that can generate fast money. The company emphasizes that the risk of incorrect restructuring may cause cash flow to lose control, rise cross-payment risks and slow down recovery progress.
