The Ho Chi Minh Stock Exchange (HoSE) has warned Searefico Corporation (SRF) about the risk of compulsory delisting due to the auditor’s opinion of exception with the financial statements for two consecutive years, 2023 – 2024. SRF was moved to the controlled category as of April 10. On August 29, HoSE received the consolidated financial statements for the half-year of 2025 from SRF, which again included an auditor’s opinion of exception, indicating risks around receivables. To date, the auditor has been unable to gather sufficient documents to confirm these receivables, leading to doubts about their recoverability. If this situation continues in the 2025 annual financial statement, SRF may face compulsory delisting under Decree No. 155/2020/ND-CP. SRF asserts that they have accounted for debts accurately according to actual occurrences but could not ensure timely responses to acknowledgment letters needed for the audit, which is the reason for the exception opinion.
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