Timexco's 2024 audit report deemed non-compliant by State Securities Commission

On September 10, 2025, Thu Duc Trading and Import - Export Joint Stock Company (Timexco) announced it received an official letter from the State Securities Commission (UBCKNN). This letter concerns Timexco's 2024 audited financial statements, specifically highlighting that the audit report by An Viet Auditing Company Limited did not meet required standards.

The UBCKNN's review of the 2025 audit service quality revealed that the 2024 financial statement audit file was unsatisfactory. The auditors failed to perform sufficient audit procedures and collect adequate appropriate audit evidence to form an audit opinion in accordance with auditing standards. Consequently, the UBCKNN will suspend the auditors who signed the 2024 audit report.

Timexco is instructed to disclose this information on the UBCKNN’s CBTT system, the Hanoi Stock Exchange, and its own website starting September 11, 2025.