Hoa Binh Securities faces trading suspension on September 3

The Hanoi Stock Exchange (HNX) has decided to suspend trading of Hoa Binh Securities (HBS) shares, effective September 3, 2026. The suspension follows repeated violations regarding information disclosure regulations, even after the stock had already been placed under trading restrictions.

As a result of this decision, approximately 33 million listed HBS shares will be frozen. HNX has demanded that the company provide an explanation, propose corrective measures, and fulfill its information disclosure obligations. Prior to this suspension, HBS was already under warning due to an audit exception in its 2025 audited financial statements and was facing trading restrictions for failing to submit its 2025 semi-annual reviewed financial reports within the required 45-day timeframe.

A significant issue involves over 91.65 billion VND worth of securities held across 481 accounts. The company reported that these funds may involve illegal cash flows, including money allegedly misappropriated from the maintenance funds of Iris Garden residents for stock speculation. The company is currently working with law enforcement to verify these transactions, and auditors have noted they cannot currently assess the impact of these balances.