Ho Chi Minh City Stock Exchange (HOSE) said that DGC shares will be restricted from trading from May 26. Accordingly, shares are only allowed to be traded in the afternoon session of the trading day by centralized order matching method and negotiated trading.
The reason is that Duc Giang Chemical Group is late in submitting the 2025 audited financial statements for more than 45 days compared to the prescribed deadline, which is a case where securities are restricted from trading according to regulations. Before this decision, HOSE had transferred DGC shares from the warning category to the controlled category, effective from May 13. In which, the reason Duc Giang Chemical Group is late in submitting the 2025 audited financial statements for more than 30 days.
Duc Giang Chemical Group added that on May 8, the Board of Directors approved the selection of UHY Auditing and Consulting Co., Ltd. to audit the financial statements for 2025, and on May 11, the Company signed an audit contract with the auditing unit.
Currently, the audit of the 2025 Financial Statements is being urgently implemented. The Company is committed to closely coordinating with UHY Auditing and Consulting Co., Ltd. to ensure that the audited report is issued as soon as possible. Immediately after the Report is signed and issued, Duc Giang Chemicals will fully disclose information in accordance with current legal regulations. This is expected to be implemented in the second quarter of 2026," Duc Giang Chemicals further emphasized.
Previously, Duc Giang Chemicals also announced unusual information about the prosecution of the case "causing environmental pollution; violating regulations on research, exploration, and exploitation of resources; violating regulations on accounting causing serious consequences" occurring at Duc Giang Chemicals and related units, the Investigation Police Agency has prosecuted 14 individuals.
The noteworthy list of prosecutions includes Mr. Dao Huu Huyen, Chairman of the Board of Directors of Duc Giang Chemicals cum Chairman of Duc Giang Chemicals - Lao Cai Co., Ltd.; Mr. Dao Huu Duy Anh, Vice Chairman of the Board of Directors of Duc Giang Chemicals; Ms. Dao Thi Mai, Chief Accountant; Ms. Hoang Thuy Ha, Accountant and Ms. Nguyen Thi Phuong Anh, Treasurer of Duc Giang Chemicals...
Then, on May 8, the Group held an extraordinary General Meeting of Shareholders 2026 to consolidate the management apparatus. The General Meeting approved the dismissal of Chairman of the Board of Directors Dao Huu Huyen, Vice Chairman Dao Huu Duy Anh (Mr. Huyen's son) and Member of the Board of Directors Pham Van Hung. At the same time, approved the election of 3 additional members of the Board of Directors, including Mr. Dao Huu Kha (Mr. Huyen's younger brother), Mr. Nguyen Quoc Trung and Mr. Pham Duy Tung, all of whom are employees of DGC or member companies.
Candidates are held by a group of shareholders holding 45.41% of charter capital (including more than 21% of shares authorized from former Chairman Dao Huu Huyen and his son) on May 6.
Regarding business activities, in the self-prepared Q1/2026 report, Duc Giang Chemicals recorded revenue of VND 2,124.6 billion, down 24.4% compared to the same period; profit after tax reached VND 430.05 billion, down 48.6% compared to the same period last year. In which, gross profit margin decreased from 34.9% to 23%.
Regarding stocks, from March 12 to May 19, DGC shares decreased by 38.3%, from VND 80,900 to VND 49,900/share.
