FID's shares under warning due to mining permit delays

Vietnam Enterprise Investment and Development JSC (FID) reported its shares remain under warning due to accumulated losses and negative after-tax retained earnings as of December 31, 2024, with no improvement by Q3 2025. This situation is attributed to delays in renewing the mining permit for its subsidiary, Vietnam Industrial Steel and Iron JSC, located in Phu Tho province. The subsidiary generated no revenue from mining operations in 2024 and Q3 2025, leading to losses.

FID is actively collaborating with its subsidiary to expedite the renewal of the mining permit. Once secured, the subsidiary expects to resume mining operations, generate profits, and thereby resolve FID's negative retained earnings balance. The company commits to providing quarterly updates on its progress to the Hanoi Stock Exchange.

FID disclosed this information on October 30, 2025, in response to Hanoi Stock Exchange decisions on April 4, 2025, regarding the company's stock. These decisions placed FID under warning due to negative after-tax retained earnings as of December 31, 2024.