The Joint Stock Company for Trade and Import-Export Thiên Nam (code: TNA) received a qualified opinion from the auditor in the 2023 financial report due to the unconfirmed inventory amount of over 1.037 trillion VND. The inventory was stored at two companies in the same ecosystem, but the auditor was not allowed to witness the inventory count at the end of 2023 and lacked sufficient information to determine the value of the goods. Additionally, overdue receivables of over 184 billion VND were not provisioned, although regulations require these to be fully provisioned. After the audit, TNA reported a loss of over 19 billion VND, a significant decrease from the previous profit. The reasons for the loss primarily include increased costs, including fines and tax adjustments. Due to delays in disclosing information, TNA’s shares were forcibly delisted from HoSE at the end of 2024. In the first nine months of 2025, TNA continued to incur a loss of nearly 44 billion VND.
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