At the end of the trading session on November 19, QCG shares of Quoc Cuong Gia Lai Joint Stock Company (HoSE: QCG) hit the floor price, down to 12,400 VND/share with a matched volume of more than 1.89 million units, with a remaining floor price sell order of nearly 244,300 units.
QCG shares "hit the floor" after the company announced that it had received a dispatch from the State Securities Commission (SSC) regarding the 2023 Financial Statements audited by DFK Vietnam Auditing Company Limited.
The State Securities Commission said that the auditors of DFK Vietnam Auditing Company Limited have not fully performed the audit procedures and have not collected enough audit evidence to give a qualified audit opinion. Therefore, the State Securities Commission will suspend the auditors from signing the audit report of QCG's 2023 financial statements.
Following the above announcement from the State Securities Commission, Mr. Nguyen Quoc Cuong - General Director of QCG said that the Board of Directors will work with the auditor to ensure that the 2024 financial report meets the standards and conditions for auditing and be announced to shareholders as soon as possible.
In the 2023 Financial Statements, DFK Vietnam Auditing Company Limited expressed its opinion: “In our opinion, the accompanying consolidated financial statements give a true and fair view, in all material respects, of the consolidated financial position of Quoc Cuong Gia Lai as at December 31, 2023, as well as the consolidated results of its operations and consolidated cash flows for the fiscal year, in accordance with Vietnamese accounting standards, the Vietnamese corporate accounting regime and relevant legal regulations on the preparation and presentation of consolidated financial statements”.
Meanwhile, in the 2024 Semi-Annual Financial Report, DFK Vietnam Auditing Company Limited continues to audit the Financial Report of Quoc Cuong Gia Lai.
