DGC Stock Trading Restriction Adjusted by HOSE Amid Delayed Audit
This Aveluro analysis covers DGC (Tập đoàn Hóa chất Đức Giang) in the Chemicals sector. The classified event type is regulation change, with negative sentiment and a deterministic market-impact score of 7.0/10. Aveluro classifies this story as a negative catalyst and risk signal for the affected stock. Source coverage came from Vietstock - Cổ phiếu, classified as a primary/top-tier source.
Key Facts
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Overview
HOSE has adjusted the trading restriction on DGC shares (HOSE: DGC) of Duc Giang Chemicals Group, allowing full-day trading but only odd-lot periodic matching, after initially restricting trading to afternoon sessions. The restriction stems from the company’s failure to submit its 2025 audited financial statements within 45 days of the deadline, linked to the chairman’s arrest. DGC shares have declined 40% from their peak.
Key Facts
- HOSE initially restricted DGC trading to afternoon sessions on May 20, 2026, then revised to full-day odd-lot periodic matching effective May 26, 2026.
- The restriction is due to DGC’s delay in submitting 2025 audited financial statements by more than 45 days.
- Chairman Dao Huu Huyen and Vice Chairman (his son) Dao Huu Duy Anh were prosecuted and detained; company documents were seized for investigation.
- DGC was removed from HOSE indices including VN30 and VN100 due to the restricted trading status.
- DGC shares fell from a peak of VND 80,000 on March 12, 2026, to VND 48,000 on May 21, 2026, a decline of 40%.
- CEO Luu Bach Dat stated on May 13, 2026, that DGC has appointed UHY Auditing and Consulting as auditor, with the contract signed on May 11, 2026.
- DGC expects to complete the audited financial statements in Q2 2026 to exit the restricted trading category.
What Happened
On May 20, 2026, HOSE announced that DGC shares would be restricted to afternoon trading sessions only. However, later that same day, HOSE revised the decision, allowing full-day trading but only via odd-lot periodic matching, as per the listing and trading regulations. The restriction applies from May 26, 2026.
The restriction was triggered by DGC’s failure to submit its 2025 audited financial statements within 45 days of the regulatory deadline. This delay is related to the prosecution and detention of Chairman Dao Huu Huyen and Vice Chairman Dao Huu Duy Anh, as well as the seizure of company documents for investigation. In a letter to HOSE on May 13, 2026, CEO Luu Bach Dat confirmed that DGC had engaged UHY as its auditor and was working to complete the audit as soon as possible, targeting Q2 2026.
Market Context
DGC shares closed at VND 48,800 on May 20, 2026, down 2.20% with volume of 5.14 million shares. The stock has fallen approximately 40% from its peak of VND 80,000 on March 12, 2026, following news of the chairman’s arrest. The trading restriction has also led to DGC’s removal from key HOSE indices such as VN30 and VN100, reducing passive fund demand. The stock is now trading sideways around VND 48,000-51,700.
Strategic Significance
The trading restriction and index removal are significant for DGC’s liquidity and institutional investor base. The delay in audited financials raises governance concerns, especially given the legal issues surrounding top management. However, the company’s appointment of an auditor and commitment to completing the audit by Q2 2026 suggests an effort to resolve the situation. The outcome will be critical for DGC’s ability to regain normal trading status and index inclusion, which could restore investor confidence and liquidity.
What to Watch
- Completion and publication of the 2025 audited financial statements, expected in Q2 2026.
- HOSE’s decision to lift the trading restriction once the audited statements are filed.
- Any further legal developments regarding Chairman Dao Huu Huyen and Vice Chairman Dao Huu Duy Anh.
- DGC’s potential re-inclusion in HOSE indices such as VN30 and VN100.
- Stock price reaction and trading volume as the restriction adjustment takes effect on May 26, 2026.