CPG Investment Development Urban Gas Joint Stock Company (PCG) may face mandatory delisting as its 2024 financial statements were not accepted by the auditing firm VACO. HNX has requested the company to respond within five days, while VACO indicated it could not gather confirmation information for several important financial items and could not conduct inventory and fixed asset inspections. The company also faces internal disputes among shareholders, complicating the assessment of transactions. Notably, some loans lack collateral, and PCG has yet to set aside provisions for difficult-to-collect receivables. PCG stated that delays in finalizing the audit were due to prolonged procedures for changing the legal representative. The company is negotiating and planning to sue in order to recover debts and has announced an upcoming shareholders’ meeting.
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