The Ho Chi Minh City Stock Exchange (HoSE) has recently issued a formal reminder to Vimedimex Pharmaceutical JSC (Ticker: VMD) following omissions in their post-audit financial explanations for the 2025 fiscal year.
Compliance Issues: Although the company submitted its 2025 audited financial statements on April 13, 2026, it failed to provide timely explanations for significant data fluctuations. Key missing information includes:
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Clarification on the post-tax profit surge (a nearly 60% increase in separate profit and an 80% increase in consolidated profit), which exceeds the 10% regulatory threshold for mandatory disclosure.
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Explanations regarding qualified opinions issued by the independent auditor.
Notable Financial Concerns: Vimedimex’s 2025 audit report highlights several critical issues concerning asset and capital transparency:
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Frozen Deposits: A sum of 198.9 billion VND at VietinBank, linked to the Citilight Building project, is currently frozen as the actual capital contribution ratios of investors remain unverified.
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Uncertain Receivables: The company recorded over 1,578 billion VND in long-term receivables involving former executives and other losses. The recoverability of these funds remains unconfirmed.
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Accounting Discrepancies: The Board of Directors ordered an adjustment of approximately 1,362 billion VND in debt discrepancies into long-term payables. Of this, 193 billion VND is the responsibility of the parent company (Vimedimex Pharmaceutical Group) to recover.
Auditors stated they could not yet determine the full impact of these unresolved matters on the company’s consolidated financial position for the year ending December 31, 2025.