GKM Holdings stock under control after delayed financial statements

GKM Holdings Joint Stock Company’s shares were placed under trading control by HNX on September 22, 2025, due to the delayed submission of its reviewed semi-annual financial statements for 2025. The company missed the August 14, 2025 deadline by over 30 days. Additionally, GKM stock remains under warning status due to qualified opinions from IAV Audit Company on its 2024 financial statements, citing issues with doubtful receivables, overdue bonds, and asset valuation.

The delay was attributed to complexities in auditing long-term financial investments (256.8 billion) and short-term payables (83.9 billion), as well as internal control inefficiencies and personnel changes in the accounting department. GKM Holdings has committed to submitting the reviewed financial statements by October 31, 2025, and publishing them on CIMS by November 5, 2025.

In Q2 2025, GKM Holdings reported a significant 92.8% decrease in net revenue to 2.4 billion compared to 2024, resulting in a net loss of 907 million, a stark contrast to the 8.1 billion net profit in the same period last year. Total assets increased by 7.7% to 505.7 billion, with liabilities rising by 28.5% to 166.9 billion.