Among the affected companies is NVL, the stock of Novaland Group, chaired by Bui Thanh Nhon. NVL stock will officially be placed under warning starting from September 23, 2024, following the company's failure to submit its reviewed semi-annual financial statements on time.

Earlier, on September 10, HoSE had reported that Novaland was five days late in submitting the required report, which led to NVL stock being deemed ineligible for margin trading.

In response to ongoing investment management and debt restructuring efforts, NovaGroup, the largest shareholder in Novaland, sold 3 million NVL shares on September 13, reducing its stake to 17.63%.

Despite the warnings, Novaland's Q2 2024 financial results showed impressive growth, with revenues reaching 1.55 trillion VND, representing a 50% year-on-year increase.

The company posted a profit of 945 billion VND, a significant improvement compared to the 684 billion VND loss it reported in the same period last year.

Other stocks under warning include DLG (Duc Long Gia Lai Group) and RDP (Rang Dong Holding), both of which also faced delays in submitting their financial reports.

Ngoc Cuong