According to the penalty decision dated December 9, 2024 of the State Securities Commission (SSC), Dat Xanh Group Corporation (Code: DXG) was fined VND 100 million for not disclosing information that must be disclosed according to the law.
According to the decision, the company did not disclose information on the following documents: Resolution of the Board of Directors dated June 21, 2022 approving the signing and execution of contracts, agreements, and transactions with related parties of the company; Resolution of the Board of Directors dated June 30, 2023 approving the signing and execution of contracts, agreements, and transactions with related parties of the company.
The company also did not send public information to the Hanoi Stock Exchange (HNX) regarding the report on the use of funds from the audited bond issuance in the first 6 months of 2023...; sent the information on the following documents: The use of funds from the audited bond issuance in 2023 after the deadline.
At the same time, Dat Xanh was fined 65 million VND for disclosing incomplete information as required in the governance reports for the periods 2022 - 2023 and the first 6 months of 2024.
In which, the company guaranteed the loan of Ha Thuan Hung Construction - Trade - Service Company Limited (a subsidiary of the Company); according to Section 29 of the Audited Separate Financial Statements for 2023, the Company had a loan transaction with Mr. Luong Tri Thin (Member of the Board of Directors), the balance as of December 31, 2023 was VND 150 billion, however, the Company did not present the above transactions in Appendix 2 of the 2023 Corporate Governance Report.
The total amount of money this real estate company was fined was 515 million VND.
The State Securities Commission also decided to fine Vinam Joint Stock Company (Code: CVN) for many violations.
Accordingly, the company was fined VND 92.5 million for not disclosing information that must be disclosed according to the law. The company did not disclose information for the following documents: Separate and consolidated financial statements audited for the first 6 months of 2024, separate and consolidated audited financial statements for 2023); Disclosed information on time for the following documents: Separate and consolidated financial statements for the fourth quarter of 2022, consolidated audited financial statements for 2022, consolidated audited financial statements for the first half of 2023).
Previously, on December 5, the State Securities Commission issued a Decision on administrative sanctions for violations in the field of securities and the securities market and a Decision on forcing the application of remedial measures against Hoang Huy Financial Services Investment Joint Stock Company (Code: TCH) with a total fine of VND 295 million.
According to the penalty decision of the State Securities Commission, Hoang Huy Finance was fined VND 92.5 million for violating regulations on information disclosure on the stock market. This enterprise did not disclose information on the information disclosure system regarding the explanation of the difference in after-tax profit compared to the previous period of the separate financial statements for the periods 2020 - 2021.
The company was also fined VND65 million for not disclosing information in full as required. Accordingly, TCH entered into a series of transactions with its subsidiaries in 2021, 2022, and 2023, but disclosed incomplete information about these transactions in its corporate governance report.
At the same time, Hoang Huy Finance was fined VND137.5 million for violating regulations on transactions with shareholders, business managers and related persons of these subjects.
For office leasing transactions with subsidiaries and related parties of the company's insiders (including Thinh Hiep Construction Joint Stock Company, Thinh Phat Real Estate Construction Joint Stock Company), but these contracts were executed before the board of directors approved them.
The company is also subject to remedial measures requiring the cancellation or correction of information in its 2021 annual report.
