The Ho Chi Minh City Stock Exchange (HoSE) has just announced the suspension of trading in KPF shares of Koji Asset Investment Joint Stock Company due to late submission of the 2024 semi-annual review financial report beyond the prescribed time limit. Previously, this stock was put into restricted trading from October 4, 2024 for the same reason.
According to HoSE's regulations, listed enterprises must publish semi-annual audited financial reports within the prescribed time limit. The delay of more than 6 months caused KPF shares to be officially suspended from trading, meaning that investors could not buy and sell these shares on the stock exchange.
Before being suspended from trading, on January 21, 2025, Koji Asset Investment Joint Stock Company announced a plan to overcome the situation of KPF shares being warned. The company said it will focus on debt collection and restructuring its portfolio to improve the financial situation.
Regarding solutions, Koji offers a roadmap for two stages: Phase 1 (quarter I/2025 - third quarter 2025): Focus on completing debt collection plans, reviewing and restructuring current investment portfolios. Phase 2 (quarter III/2025 - end of 2025): Accelerate investment in core business areas and implement potential projects.
The Q4/2024 financial report of Koji Asset Investment shows that the company did not record any revenue from sales and service provision. Financial revenue reached more than VND9 billion, down 30.8% over the same period last year. After deducting expenses, the company reported net profit of more than VND6.6 billion in the fourth quarter, a significant improvement compared to a net loss of more than VND26.1 billion in the same period in 2023.
However, in 2024, the company still suffered a loss after tax of more than VND 276.9 billion, while in 2023, it made a profit of more than VND 1.7 billion.
KPF is currently at VND1,690/share, after many consecutive sessions of floor decline.
