CTCP Rạng Đông Holding (RDP) is facing delisting for serious violations in information disclosure. The company reported a net loss of 143 billion VND and cumulative losses of 206 billion VND by the end of 2023. RDP has failed to remedy its violations and has not submitted annual financial statements. Financial difficulties escalated after losing a lawsuit to a foreign shareholder in September 2023, which required RDP to pay 156 billion VND. As of mid-2024, RDP reported a net loss of nearly 65 billion VND, with revenue down 44% year-on-year. The company has 781 billion VND in inventory but only 21 billion VND in cash, with liabilities totaling 1,717 billion VND. Amid this crisis, all five members of the Board of Directors have resigned, and a subsidiary has requested bankruptcy proceedings. Established in 1960, RDP was once a leading company in the plastic industry and is currently managed by the family of former Deputy Minister Ho Thi Kim Thoa.
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