On September 3, the Ho Chi Minh City Stock Exchange (HoSE) warned Searefico JSC (SRF) about the risk of delisting. HoSE moved SRF’s shares from a warning status to an inspection status due to an auditor’s opinion of exception on the company’s financial reports for two consecutive years (2023 and 2024). If the 2025 audit report continues to show an exception opinion, SRF may be delisted. The consolidated semi-annual financial report of 2025 indicates that the auditors could not collect enough information about receivables. However, SRF claims that receivables were recorded accurately. In terms of business results, SRF’s net revenue in the first half of 2025 was nearly 433 billion VND, down 13% compared to the same period last year, but after-tax profit reached over 5.5 billion VND, eight times higher than the same period last year due to increased financial revenue from investment transfers. SRF’s shares closed on September 3 at 8,440 VND/share.
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