Upon market open, shares of HVA Group immediately dropped to their maximum allowable limit on the UPCoM exchange, falling 14,4%. With trading volume reaching only 400 million VND, the stock soon saw no buyers.

Currently, HVA Group shares trade at 8,900 VND per unit, which is below its par value. This marks the second consecutive session the stock has reached its floor price.

Par value is the nominal price a company sets for each share when initially issued. The common figure today is 10,000 VND per share. Comparing par value with market price helps investors assess a stock's attractiveness.

HVA shares are currently trading at their lowest point in over one year. Since peaking at 29,600 VND in late 8/2025, when the company was preparing to establish the DNEX exchange to participate in a domestic pilot resolution, the stock has lost nearly 70% of its value.

HVA stock is trading at its lowest price since late 3/2025. *Source: TradingView*

This downturn follows reports of technical errors on the ONUS crypto exchange, which began on the evening of 20/3. Users were unable to log in or register new accounts, completely losing access to the application and their digital assets held on the exchange.

ONUS launched in 3/2020, with its headquarters in Singapore through its parent company XPLOR Technology. However, its leadership is predominantly Vietnamese, targeting domestic customers. The founder is Vuong Le Vinh Nhan (Eric Vuong), who also serves as the chairman of HVA Group.

Speaking with VnExpress, Le Hoa Nha, CEO of HVA Group, confirmed that the company is assisting with information related to Onus Labs, the entity ONUS hired to manage all daily operations related to the platform, including user accounts and the trading system.

Nha stated that as an investment firm, HVA injected capital into the ONUS ecosystem. Additionally, HVA provides technology to companies within this ecosystem, including the exchange itself.

"We only provide the system, infrastructure, and technology solutions for ONUS; we do not participate in its operation," Nha affirmed.

HVA Group's journey began in the construction industry, then shifted to agriculture. The company underwent several name changes before adopting the HVA brand after Eric Vuong's group acquired it in 2017-2018. Since then, the company has focused on financial and technology investments. Beyond ONUS and HanaGold, HVA also maintains strategic partnerships with various projects, including: ETH Capital, BTC Chain, VFILMS, CAKE Chain, TON Chain, and BNB Chain.

Investors monitor HVA stock performance on the morning of 24/3, with the ONUS crypto exchange logo in the background. *Photo: Tat Dat*

HVA stock is currently trading below the offering price for a planned private placement of 35,65 million shares, announced earlier this year. The leadership set the offering price at 18,050 VND per unit.

The purpose of this share issuance is to increase charter capital from 136,5 billion to 493 billion VND. The funds are earmarked for the DNEX project, various innovation projects, the Volt City project in Can Tho, and the HVA application. Implementation is expected in Q1-Q2 this year.

The list of registered investors includes Chung khoan Alpha, Quy dau tu Pacific Bridge, Tap doan Hoang Minh, Phan mem iNet, Jade Jabs, Vemanti Group, and Straits Financial Group. Previously, Cong ty Quan ly Quy SSI (SSIAM) and Nam A Bank (NAB) were mentioned, but were later removed from the amended resolution. HVA cited "oversight in data reconciliation and document drafting" as the reason.

Tat Dat