1. The cause of the supervision status:
According to Decision No.52/QD-SGDHCM dated 02/13/2018 by the Hochiminh Stock Exchange, the stock PNC of Phuong Nam Cultural Joint Stock Corporation was put under supervision status as from February 27, 2018, because its undistributed after-tax profit at 12/31/2016 was -39.35 billion dongs, the after-tax profit in 2017 was -66.51 billion dongs and undistributed after-tax profit at 12/31/2017 was -105.86.
On August 28, 2018, the Hochiminh Stock Exchange (HOSE) received the 2018 audited semi-annual financial statements of Phuong Nam Cultural Joint Stock Corporation (code: PNC). According to the report, the after-tax profit of parent company was 7.76 billiondongs, the undistributed after-tax profit at 06/30/2018 was -98.09 billion dongs Although the company started to make profit, but this profit came from other income (the company still lost VND10 billion from its business activities) and the company still had the cumulative losses.
HOSE continues to remain the supervision status for the stock PNC and will consider solutions for the stock PNC after having the 2018 audited consolidated financial statements.
2. The cause of the special supervision status:
According to Decision No.285/QD-SGDHCM dated 07/13/2016 by the Hochiminh Stock Exchange, the stock PNC of Phuong Nam Cultural Joint Stock Corporation from the transaction suspension status into special supervision status because the company has full information disclosure in accordance with the listing regulation on the Hochiminh Stock Exchange.
Because in the past, the company repeatedly violated information disclosure. Therefore, HOSE will continue to monitor the information disclosure for the stock PNC until PNC reports the financial statements in Q3.2018.
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