On 13/8, Duc Giang Chemicals Group Joint Stock Company held its 2026 annual general meeting. The meeting attracted hundreds of shareholders following senior personnel changes due to the indictment of several former leaders earlier this year.

The stock's market value has fallen over 44% since the beginning of the year, currently trading at 44,000 VND per unit. Addressing this, Dao Huu Kha, chairman of Duc Giang Chemicals, acknowledged that unfavorable market developments and recent events have caused DGC's share price to drop significantly below its intrinsic value.

Shareholders will gain a clearer basis to assess the company's long-term potential through its financial reports and business plans, the Duc Giang Chemicals chairman stated. In 2025, the company recorded 11,262 billion VND in revenue, a 14.1% increase year-over-year. Post-tax profit reached 3,289 billion VND, up 2.6%.

This year, Duc Giang Chemicals aims for 10,100 billion VND in revenue and 1,600 billion VND in post-tax profit. Compared to 2025, these targets represent a 10% and 49% decrease, respectively. Despite the lower projections, the company maintains a substantial cash and bank deposit reserve of approximately 12,000 billion VND, a significant figure compared to other listed companies.

The presidium of the Duc Giang Chemicals general meeting. Photo: Trong Hieu

Beyond the year-to-date price drop, DGC shares are currently under warning and face a trading restriction. According to Pham Duy Tung, a member of Duc Giang Chemicals' board of directors, the company's stock faces this situation due to the late submission of its 2025 audited financial report and a qualified opinion from the auditor.

Regarding the inventory issue noted by the auditor, the company addressed it in Q2. However, authorities have not yet reached a final conclusion on the case involving the company, making accounting difficult. This implies that while Duc Giang Chemicals can fully resolve the cause of the trading restriction, a specific timeline remains undetermined.

Concerning the case, Pham Duy Tung affirmed that it involves personal misconduct, not the company. The family of former chairman Dao Huu Huyen used personal funds to compensate 331 billion VND for the case's consequences.

A Duc Giang Chemicals factory in Tang Loong commune, Lao Cai province. Photo: Ngoc Thanh

In this new context, Dao Huu Kha expressed his desire for shareholders to stand shoulder to shoulder with Duc Giang Chemicals in the upcoming journey, especially during challenging times. The new leadership is focused on building lasting trust between the company and its shareholders.

The board of directors, executive board, and all employees will strive to maintain transparent, efficient company operations, Kha affirmed. The strategy for this period involves restructuring the apparatus, focusing on resolving outstanding issues, particularly legal ones. Concurrently, the leadership is reviewing all operations to enhance management effectiveness, optimize costs, and utilize resources judiciously.

The chairman of Duc Giang Chemicals committed to transparent governance, gradually rebuilding a new foundation, strengthening market confidence, and creating real value for shareholders, aiming for sustainable development during the 2026-2030 period.