TV3 Stock Plunges 9.64% After Chairman, CEO, and Chief Accountant Arrested

Overview

TV3, listed on HNX, saw its stock plunge 9.64% to VND 15,000 on September 8, 2026, following the arrest of its chairman, CEO, and chief accountant. The decline comes ahead of an extraordinary shareholder meeting scheduled for September 30, where leadership changes will be discussed. The company also reported a 54% drop in Q2 2026 revenue.

Key Facts

• TV3 stock fell 9.64% to VND 15,000 per share on September 8, 2026, hitting the lowest price in over a month.
• The extraordinary shareholder meeting is set for September 30, 2026, to discuss amending the company charter and board personnel.
• On June 9, 2026, the company received notice of arrest for Chairman Nguyễn Như Hoàng Tuấn, CEO Lạc Thái Phước, and Chief Accountant Phạm Hoàng Vinh.
• TV3 plans to pay a 5% cash dividend for 2025, with the record date on September 15 and payment expected on October 22, 2026.
• Q2 2026 net revenue was approximately VND 31 billion, down 54% year-on-year.
• First-half 2026 pre-tax profit reached nearly VND 7 billion, down about 10% from the same period in 2025.

What Happened

TV3’s stock hit the limit down on September 8, 2026, as investors reacted to the arrest of top executives. The company, officially known as Công ty Cổ phần Tư vấn Xây dựng Điện 3, announced on June 9 that it had received notification from the Ministry of Public Security’s investigation agency regarding the detention of Chairman Nguyễn Như Hoàng Tuấn, CEO Lạc Thái Phước, and Chief Accountant Phạm Hoàng Vinh.

In response, TV3 quickly restructured its management. Since June 15, 2026, board member Trần Lê Minh has been acting as CEO, while Phạm Văn Tuấn was appointed Deputy CEO, and Nguyễn Ngọc Khanh was assigned to oversee accounting. Board member Trần Quốc Điền is temporarily leading the board until further notice. The extraordinary shareholder meeting on September 30 will consider amending the company charter and board personnel, though specific personnel plans are still being updated.

Market Context

TV3’s stock closed at VND 16,600 on September 3, 2026, before the sharp decline on September 8. The 9.64% drop reflects investor concerns over governance and operational stability. TV3 operates in the construction and engineering sector on HNX, a segment that has faced headwinds amid broader market volatility. The company’s Q2 revenue decline of 54% underscores the operational challenges, though first-half pre-tax profit fell only 10%, suggesting some resilience in margins.

Strategic Significance

The arrests of key executives create significant governance and execution risks for TV3. The company’s ability to maintain project pipelines and client relationships will be tested as it navigates leadership transitions. The proposed charter amendment to make the CEO the legal representative could streamline decision-making, but the ongoing personnel changes may delay strategic initiatives. For long-term investors, the key question is whether TV3 can stabilize operations and restore credibility, particularly given its role in power construction consulting.

What to Watch

• Outcome of the extraordinary shareholder meeting on September 30, 2026, especially any new board appointments.
• Q3 2026 earnings results to see if revenue decline persists or stabilizes.
• Updates on the legal proceedings involving the arrested executives and any potential fines or penalties.
• Progress on the 5% cash dividend payment scheduled for October 22, 2026.
• Any further management changes or strategic announcements from the company.