Duc Giang Chemical announced plans to dismiss three members from its board of directors, including Chairman Dao Huu Huyen and Vice Chairman Dao Huu Duy Anh, during its annual meeting scheduled for 8/5. This decision follows their prosecution and temporary detention on 17/3 by the Investigation Police Agency of the Ministry of Public Security.

Should Dao Huu Huyen and his son be dismissed, the company's board of directors (BOD) would be reduced to two members: General Director Luu Bach Dat and Nguyen Thi Thu Ha. To maintain the required number of BOD members, Duc Giang Chemical intends to elect three new individuals to serve the remainder of the 2024-2029 term. The company has not yet disclosed the candidates for these positions.

Dao Huu Huyen, chairman of Duc Giang Chemical Group. *Photo: DGC*

Established in 1963, Duc Giang Chemical was initially part of the General Department of Chemistry. The company underwent privatization in 2003 and primarily focuses on producing phosphoric acid, yellow phosphorus, and various fertilizers.

According to its self-prepared report, Duc Giang Chemical recorded nearly 11,266 billion VND in net revenue in 2025, marking a 14% increase from the previous year. After-tax profit also rose by nearly 3% to 3,188 billion VND, exceeding the company's annual plan.

Duc Giang Chemical Group Joint Stock Company is located in Tang Loong Industrial Park (Lao Cai), 3/2026. *Photo: Ngoc Thanh*

To date, the company has not yet published its audited financial report for 2025, which is 19 days past the regulatory deadline. Consequently, the Ho Chi Minh City Stock Exchange (HoSE) placed DGC shares under warning, rendering them ineligible for margin trading from 23/4. The company attributed the delay to force majeure, stating it has submitted a written explanation to the State Securities Commission and HoSE, requesting an extension beyond the 30/3 deadline. Duc Giang Chemical committed to completing and releasing the report with its auditing firm as soon as conditions permit.

Trong Hieu