Kosy Group (KOS) Explains Five-Session Floor Streak as Chairman's Stake Falls to 33.43%
This Aveluro analysis covers KOS on HOSE in the Real Estate sector. The classified event type is stake 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 CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Kosy Group (ticker KOS, HOSE) filed an official explanation with the State Securities Commission and the Ho Chi Minh City Stock Exchange after its shares hit the floor for five consecutive sessions from Oct 5 to Oct 9, 2026. The company attributed the decline to securities firms cutting margin allocations for KOS and simultaneously forcing liquidations, which amplified selling pressure and drained liquidity. The filing follows a similar explanation for a floor streak from Sept 28 to Oct 2, 2026.
Key Facts
- KOS fell to the floor for five consecutive sessions from Oct 5, 2026 to Oct 9, 2026, per the company’s filing to the State Securities Commission and HOSE.
- Chairman Nguyen Viet Cuong had 810 KOS shares force-liquidated by a securities company between Sept 30 and Oct 6, 2026, via order matching.
- After the liquidation, Nguyen Viet Cuong holds more than 73.37 million KOS shares, equal to 33.43% of charter capital.
- Kosy Real Estate Investment Co., Ltd. was force-sold 8,000 KOS shares on Sept 29, 2026 and from Oct 1 to Oct 5, 2026, cutting its stake from 4.61% (over 9.97 million shares) to 4.605% (9.96 million shares).
- Vice Chairwoman Nguyen Thi Hang holds nearly 13.9 million KOS shares, or 6.42% of charter capital.
- H1 2026 audited results: net revenue of nearly VND 722.7 billion, up more than 9% year on year; after-tax profit of nearly VND 15.4 billion, up nearly 121%.
- As of June 30, 2026, total assets were more than VND 5,078.4 billion, up 4.4% from the start of the year, with inventory at nearly VND 2,778.5 billion, or 54.7% of total assets.
What Happened
In a document sent to the State Securities Commission and HOSE, Kosy Group said the stock market had continued to decline on momentum, pressuring investors to sell. The company stated that securities firms reduced margin allocations for KOS and carried out liquidations in parallel, increasing sell pressure and creating liquidity stress in the shares. Kosy said its core operations, spanning real estate project investment and development, renewable energy, and project operations, are proceeding normally and that no internal disruption explains the price move. The company committed to meeting its information-disclosure obligations.
The forced selling touched related parties. Chairman Nguyen Viet Cuong, who also chairs Kosy Real Estate Investment Co., Ltd., saw 810 KOS shares liquidated between Sept 30 and Oct 6, 2026, leaving him with more than 73.37 million shares, or 33.43% of the company. Kosy Real Estate Investment was force-sold 8,000 shares on Sept 29 and between Oct 1 and Oct 5, 2026, trimming its holding from 4.61% to 4.605%. Vice Chairwoman Nguyen Thi Hang, a capital contributor at Kosy Real Estate Investment, holds nearly 13.9 million KOS shares, or 6.42%.
Market Context
KOS closed at 10,350 on Oct 11, 2026, after the five-session floor streak, a level consistent with the daily limit-down moves described in the filing. The stock trades on HOSE in the real estate sector, which has been sensitive to margin policy and liquidity conditions across the Vietnamese market. The company’s explanation points to broker-level margin tightening rather than sector-wide fundamentals as the proximate driver of the decline.
Strategic Significance
The forced selling reduces the chairman’s stake to 33.43%, still a controlling position but one now shaped by margin mechanics rather than voluntary transactions. For long-term investors, the key question is whether the liquidation cascade has run its course or whether further margin-driven supply remains. Kosy’s H1 2026 results show revenue growth of more than 9% and after-tax profit up nearly 121%, but inventory at 54.7% of total assets and total borrowings of more than VND 1,997.7 billion, or 73.3% of total liabilities, leave the balance sheet exposed to a prolonged real estate downturn.
What to Watch
- Further disclosure filings from Nguyen Viet Cuong or Kosy Real Estate Investment if liquidation continues.
- Q3 2026 earnings release for confirmation that core project and renewable energy operations remain on plan.
- Broker margin policy announcements for KOS and real estate peers on HOSE.
- Inventory and borrowings trends in the next financial statements, given inventory at 54.7% of assets.
- Any change in the 33.43% chairman stake or related-party holdings.