HTC Holding addresses audit concerns, outlines 2025 strategy

HTC Holding Joint Stock Company reported a loss of VND 2,256,585,003 and a net cash outflow from operating activities of VND 18,135,531,741 for the six-month period ended June 30, 2025. Auditors issued an "except for" opinion due to an inability to physically verify VND 1,133,971,135 in cash, though the company asserts it possesses full supporting documentation. These factors, alongside overdue borrowings and adverse market fluctuations, indicate significant uncertainties regarding the company’s going concern ability.

Despite these challenges, HTC Holding's board of directors prepared the financial statements on a going concern basis. Their 2025 strategy includes expanding domestic and foreign markets, seeking new partners, and targeting VND 15,000,000,000 in revenue from trading and rice export. They also plan to collect receivables to generate cash flow for operations and debt repayment.

The company will divest VND 49,000,000,000 from Diamond Park Investment Joint Stock Company as per a September 5, 2025 resolution. Investment plans include negotiating a stake in the Central Glass Joint Stock Company's plant project in Da Nang, exploring real estate cooperation in Da Nang, and introducing new business lines. The board is confident in having sufficient working capital and cash flow for obligations within the next 12 months.