Ho Chi Minh City Stock Exchange (HOSE) said that the transfer of DGC shares to control status is due to Duc Giang Chemical Group Joint Stock Company being late in submitting the audited Financial Statements for 2025 for more than 30 days.
Notably, if not remedied soon, the transfer to control may push DGC shares out of the VN30 index basket. The index basket will be reviewed every 6 months/1 time on the 2nd day of the 4th week in January and July. The VN30 portfolio will be reviewed on the last day of June and December each year.
However, according to the Rules for Building and Managing the HOSE-Index Index, the adjustment of index component stocks may take place during the period in case the stock falls into the area of control, special control, temporary suspension of trading, or delisting.
Regarding the reason for the late submission of the 2025 Audit Report, Duc Giang Chemical Group said that the company is currently carrying out procedures to re-select a unit to audit the financial statements for 2025 at the Extraordinary General Meeting of Shareholders on May 8.
Immediately after selecting the auditing unit, the company will immediately conduct the audit and fully disclose information after completion, this is expected to be implemented in the second quarter of 2026.
Previously, in documents for the Extraordinary General Meeting, Duc Giang Chemical submitted to shareholders for simultaneous dismissal of 3 members of the Board of Directors including Mr. Dao Huu Huyen, Chairman of the Board of Directors; Mr. Dao Huu Duy Anh, Vice Chairman of the Board of Directors; and Mr. Pham Van Hung, Member of the Board of Directors. The reason for dismissal is that all three senior leaders are being prosecuted according to the decision of the Investigation Police Agency - Ministry of Public Security.
Duc Giang Chemical Group will also submit to shareholders for election to replace 3 members of the Board of Directors for the term 2024 - 2029. Also on May 6, the Group also announced unusual information related to the meeting of the group nominating candidates for the Board of Directors.
Accordingly, the group of shareholders holding 40.41% of charter capital (including more than 21% of shares authorized from former Chairman Dao Huu Huyen and his son) nominated 3 candidates to the Board of Directors of the Company, including Mr. Dao Huu Kha, Mr. Nguyen Quoc Trung, and Mr. Pham Duy Tung.
In which, Mr. Dao Huu Kha holding more than 22.7 million shares (equivalent to 5.97% of voting shares) was appointed as a representative to carry out the nomination procedures in accordance with regulations.
As of December 31, 2025, Duc Giang Chemical recorded 5 members of the Board of Directors.Thus, Duc Giang Chemical submits to shareholders to replace 3/5 members, these are key members at the enterprise.
In addition, Duc Giang Chemicals also submitted to shareholders for approval a decision to select an independent auditing company to audit the 2025 Financial Statements based on the selection from a list of independent auditing companies including A&C Auditing and Consulting Co., Ltd. or UHY Auditing and Consulting Co., Ltd.
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%.
Closing the trading session on May 6, DGC shares increased by 2,800 VND to 55,800 VND/share.
