On May 7, according to PV's investigation, Duc Giang Chemical Group Joint Stock Company (DGC) announced the minutes of the shareholder group meeting and the list of personnel nominations for additional members of the Board of Directors (BOD) for the remaining term 2024-2029.
Accordingly, Mr. Dao Huu Kha - younger brother of former Chairman Dao Huu Huyen - was nominated by a group of shareholders owning more than 45.4% of the enterprise's capital to participate in the Board of Directors. This is considered the latest fluctuation in the group's Board of Directors.
This group of shareholders includes Mr. Dao Huu Huyen and related individuals, currently holding more than 172 million DGC shares.
In addition to Mr. Dao Huu Kha, the candidate list also includes Mr. Nguyen Quoc Trung and Mr. Pham Duy Tung. These two personnel are currently directors of subsidiaries of Duc Giang Chemical Group.
Mr. Dao Huu Kha was born in 1970, holds a Bachelor of Business Administration degree. He has worked at the enterprise since 2008 and is currently an official of the Project Department of Duc Giang Lao Cai Chemical Co., Ltd.
Currently, Mr. Kha owns nearly 22.7 million DGC shares, equivalent to nearly 6% of the company's charter capital.
Duc Giang Chemicals is expected to finalize the plan to elect additional members of the Board of Directors at the Extraordinary General Meeting of Shareholders taking place on May 8.
The move to consolidate senior personnel takes place in the context of many business leaders, including former Chairman Dao Huu Huyen, being prosecuted and temporarily detained. After personnel changes, the Board of Directors of the enterprise currently only has 2 members, including General Director Luu Bach Dat and Ms. Nguyen Thi Thu Ha.
Duc Giang Chemical Group was established in 1963, operating in the field of producing phosphoric acid, yellow phosphorus, fertilizers and industrial chemicals.
In the first quarter of 2026, the enterprise recorded net revenue of VND 2,125 billion, down 24% compared to the same period. After-tax profit attributable to parent company shareholders reached VND 409 billion, down 49% and the lowest level since the third quarter of 2021.
According to the explanation sent to the Ho Chi Minh City Stock Exchange (HOSE), the business said that profits decreased due to reduced revenue while many input costs such as sulfur, electricity, coke and ammonia increased sharply.
Notably, recently HOSE put DGC shares under control from May 13 due to the enterprise's delay in submitting the audited financial statements for 2025 for more than 30 days.
If not soon resolved, DGC shares are at risk of being removed from the VN30 index basket in the upcoming review period. According to HOSE regulations, stocks subject to control, special control or temporary suspension of trading may be adjusted out of the index set immediately in the period.
Regarding the delay in announcing the audited financial statements, Duc Giang Chemicals said that the enterprise is carrying out procedures to re-select the auditing unit at the Extraordinary General Meeting of Shareholders on May 8.
After completing the selection of the auditing unit, the company will deploy the audit and disclose information according to regulations, expected to be completed in the second quarter of 2026.
