In his letter, Dao Huu Huyen, president of Duc Giang Chemicals (DGC). stressed that over the last eight years, since the company listed on the bourse, prices had never fallen to floor prices for five consecutive trading sessions.

This has occurred at a time when DGC’s business results are the best ever with revenue of over VND14 trillion and post-tax profit of over VND6 trillion.

Huyen said DGC is proud to be one of the enterprises with the best financial foundation in Vietnam with a deposit balance of VND8 trillion and liabilities of VND600 billion.

Noting that DGC prices have been at floor prices for five consecutive years, he said Duc Giang has given an explanation to SSC. “I hope that DGC will regain its real value in the near future,” he said.

DGC prices have been decreasing since the beginning of November from VND74,700 to VND53,200 at times. There have been signs of a bounce back in the last two sessions with prices jumping to VND59,000 per share on November 17.

Doan Nguyen Duc, or Boss Duc, President of Hoang Anh Gia Lai (HAG), has  sent a letter to shareholders, affirming that HAG shares have seen prices sliding in many trading sessions, but its business has been performing well compared with the same period in  previous years.

Duc said the price decreases must not be blamed on business results, because price drops had occurred with most shares in the market. The reason could be a loss of investor confidence.

HAG share prices began increasing sharply in early November 2021, from VND5,000 per share. After two months, the prices increased by 3 times, reaching a peak of VND15,700 per share in early January 2022.

After several trading sessions at floor levels, HAG shares began recovering. The shares were traded at VND6,780 per share on November 7, or 59 percent lower than the peak price.

Nguyen Thien Tuan, president of DIC Group, sent a letter to shareholders to explain the sluggish business results of the company.

Tuan said revenue and profit decreased in Q3 2022 because of difficulties in applying for the transfer of some projects. 

DIC was considered a good share, which once climbed to a peak of VND102,000 per share. 

Ngoc Cuong