Share prices previously manipulated “have changes”: Market price drops 35%, not enough to buy a glass of iced tea, shareholders flee before suspension penalty

PSH shares of Nam Song Hau Petroleum Investment Trading Company (NSH Petro) have been officially suspended from trading due to non-submission of the financial report on time. At this time, the share price has dropped to 1,770 VND/share, a 34% decrease. The market capitalization is only over 220 billion VND, while the charter capital is nearly 1,300 billion VND. To remedy this situation, NSH Petro has planned to change the auditing company and borrow from Acuity Funding. Despite plans for improvement, the company still faces significant tax debts and declining business results, reporting a cumulative loss of 790 billion VND in 2024, with five consecutive quarters of losses. NSH Petro’s financial situation is weak, with total liabilities 12 times the equity capital, mainly from financial loans, which needs urgent resolution.