HNX Suspends LTG Trading Over Missing Audited 2024 Financials, Maintains RDP Suspension
This Aveluro analysis covers LTG (BVTV An Giang) on UPCOM in the Food & Beverage 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 Tuổi Trẻ - Kinh doanh, 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
HNX has suspended trading of LTG (Loc Troi Group) from June 26 for failing to publish audited 2024 financial statements, after terminating its audit contract with EY Vietnam. Separately, HNX maintains the suspension of RDP (Rang Dong Holding) due to bankruptcy proceedings and severe disclosure violations.
Key Facts
- HNX suspends LTG trading from June 26, 2025, for failure to publish audited 2024 financial statements.
- LTG terminated its audit contract with EY Vietnam due to lack of agreement on reporting timelines.
- LTG signed a new audit contract with UHY on June 12, 2025.
- LTG has 15 business days from suspension to explain and propose a remedy.
- LTG risks losing its public company status if the issue persists.
- HNX maintains RDP suspension on UPCoM due to bankruptcy proceedings and severe disclosure violations.
- LTG closed at VND 5,300 on June 21, 2025, down 3.64% with volume of 52,100 shares.
What Happened
The Hanoi Stock Exchange (HNX) has decided to suspend trading of LTG shares from June 26, 2025, because Loc Troi Group failed to publish its audited 2024 financial statements by the end of fiscal year 2025. The company previously terminated its audit contract with EY Vietnam after failing to reach consensus on the timing of interim and annual reports. LTG acknowledged that the delay harmed its reputation and risked its public company status. On June 12, LTG signed a new audit contract with UHY. Separately, HNX announced it would maintain the suspension of RDP shares on UPCoM, as the company faces bankruptcy proceedings and has been forcibly delisted due to severe disclosure violations.
Market Context
LTG shares closed at VND 5,300 on June 21, 2025, down 3.64% on low volume of 52,100 shares. The stock has been under pressure due to the ongoing audit issues. LTG is listed on HNX and operates in the food production sector. The suspension adds to governance concerns for the company, which has struggled with timely financial reporting. RDP, listed on UPCoM, remains suspended indefinitely as bankruptcy proceedings continue.
Strategic Significance
The suspension of LTG highlights the critical importance of timely audited financial statements for maintaining listing status and investor confidence. The termination of the EY contract and appointment of UHY suggests internal disagreements over accounting treatments or reporting timelines. For long-term investors, the key risk is potential delisting if LTG fails to remedy the situation within the required timeframe. The case also underscores regulatory enforcement of disclosure rules in Vietnam, which can have severe consequences for non-compliance.
What to Watch
- LTG’s formal explanation and remediation plan to HNX within 15 business days of suspension.
- Progress of the new audit with UHY and expected completion date for the 2024 audited financials.
- Any further regulatory actions, including potential delisting if the issue is not resolved.
- Updates on RDP’s bankruptcy proceedings and any asset recovery for shareholders.
- Market reaction to LTG’s next corporate announcements regarding audit status.