CC1 Stock Placed Under Warning Again After Trading Restriction Lifted

Overview

HNX has placed shares of Tổng Công ty Xây dựng Số 1 - CTCP (CC1) under warning status effective July 14, citing the company’s failure to hold its annual general meeting and publish the 2026 AGM resolution within the required timeframe. This regulatory action comes just weeks after CC1 was restored to normal trading on June 23, following the submission of its audited 2025 financial statements.

Key Facts

• HNX issued a warning on CC1 shares starting July 14, 2026, due to delayed AGM and non-publication of the 2026 AGM resolution.
• CC1 had only resumed normal trading on June 23, 2026, after submitting its audited 2025 annual report.
• The AGM was originally scheduled for May 14, 2026, but was postponed to await completion of the 2025 audit.
• CC1 terminated its contract with Deloitte Vietnam in May 2026 due to delays and appointed UHY as the replacement auditor.
• Audited 2025 net profit was VND 198 billion, 15% lower than the unaudited figure and down 14% year-on-year.
• Audited 2025 revenue was VND 11.8 trillion, unchanged from the preliminary report and up 16% year-on-year.
• For 2026, CC1 targets consolidated revenue of VND 18.6 trillion and pre-tax profit of VND 492 billion, representing increases of 57% and 82% respectively.
• CC1 closed at VND 29,200 on July 13, 2026, on the UPCOM exchange.

What Happened

According to a HNX announcement, CC1 shares will be placed under warning from July 14, 2026, because the company has not yet held its annual general meeting for 2026 and has not published the corresponding resolution within the statutory deadline. The company must submit an explanation and a remediation plan to the exchange within 15 days.

This development follows closely on the heels of CC1’s return to normal trading on June 23, after the company finally submitted its audited 2025 financial statements. The audit process was delayed, leading to the termination of Deloitte Vietnam as auditor in May 2026. CC1 management cited increased workload from growing revenue and large-scale projects as reasons for the delay. UHY was subsequently appointed as the new auditor. The audited results showed net profit of VND 198 billion, a 15% downward revision from the self-prepared report.

Market Context

CC1 shares closed at VND 29,200 on July 13, 2026, on the UPCOM exchange. The stock has been volatile due to repeated regulatory issues. The warning status may further dampen investor sentiment, especially given the company’s recent history of trading restrictions and auditor changes. The construction sector in Vietnam has faced headwinds from delayed project payments and rising input costs, but CC1’s 2026 targets imply a strong rebound.

Strategic Significance

The repeated regulatory sanctions highlight governance and disclosure weaknesses at CC1, which could undermine investor confidence despite ambitious growth targets. The company’s ability to execute its 2026 plan, which includes record revenue of VND 18.6 trillion and a significant profit increase, depends on resolving internal control and reporting issues. The auditor change from Deloitte to UHY may also raise questions about audit quality. For long-term investors, the key risk is whether CC1 can restore timely compliance and deliver on its operational targets.

What to Watch

• CC1’s AGM scheduled for July 30, 2026, and the subsequent publication of the AGM resolution.
• The company’s remediation plan submission to HNX within 15 days of the warning.
• Q2 2026 earnings release to assess whether revenue and profit trends align with the full-year target.
• Any further regulatory actions if compliance deadlines are missed again.
• Updates on international expansion plans and board nominations, including the proposed appointment of a former Novaland executive.