At the Annual Business Conference 2024 held on November 8, Hanoi Stock Exchange (HNX) awarded the companies for well performance in corporate governance, information disclosure and transparency.
As reported by HNX, in the evaluation period 2023-2024, there are 308 companies eligible to participate in the quality evaluation program on the information disclosure and transparency performance (ID&T) for large-scale public companies on UPCoM of HNX. These companies engage in 11 different industry groups, accounting for 75.8% of the total UPCoM’s market capitalization as of data closing date (July 1, 2024).
Annual Business Conference 2024 of HNX
HNX representative said that, compared to the evaluation period 2022-2023, the evaluation results of ID&T in the period 2023-2024 show positive changes in compliance and practices and all aspects of corporate governance. Larger companies achieve higher scores; each 1-point increase in ID&T means an average increase of 0.12% and 0.11% in ROA and ROE respectively.
Such results also show that the group of companies with a profitability ratio of 5-20% is given higher ID&T evaluation results than average one, and the companies with TobinQ ratio of 1 or more have higher scores than those with TobinQ ratio lower than 1.
Based on the set of evaluation criteria (including 72 criteria), the Organizing Committee has scored and selected Top 10 large-scale public companies on UPCoM with well performance in ID&T in the period 2023-2024, including Industrial Park Development Corporation (Sonadezi, UPCoM stock code: SNZ). This way, Sonadezi has been awarded for the 4th consecutive time, from 2020 to present, by HNX.
Mr. Pham Tran Hoa Hiep – Head of General Affairs Division, Person-in-charge of Information Disclosure of Sonadezi Corporation received the trophy for “Large-scale public company on UPCoM for well performance in information disclosure and transparency in 2023-2024”.
Sonadezi was established in 1990 and has operated as a corporation since and officially traded on UPCoM of HNX in 2017. By the end of the 3rd quarter of 2024, its total assets reached VND 21,271 billion, with the capitalization of roughly VND 12,612 billion.
Mr. Pham Tran Hoa Hiep, Head of General Affairs Division, Person-in-charge of Information Disclosure of Sonadezi Corporation shared: “For sustainable development, Board of Directors of Sonadezi has identified the improvement of quality and effectiveness of corporate governance as a very important factor. We always strive for outstanding corporate governance, information disclosure and transparency”.
“In addition, HNX has always accompanied, facilitate, regularly organized training sessions and guided and helped Sonadezi and other businesses to easily access and comply with regulations and best practices. At the same time, the honor program at the Annual Business Conference has motivated Sonadezi to continue to promote corporate governance, improve the quality of information disclosure, and integrate sustainable development in corporate governance”, said Mr. Pham Tran Hoa Hiep.
According to the leaders of Sonadezi Corporation, its operating results are positively impacted by the efforts to improve the quality of corporate governance, resulting in other positive changes in its ability to identify and control risks, access to capital market; stock value, company value and reputation of Sonadezi system. In the following years, Sonadezi and its member companies are committed to continuously focusing on its compliance with the principles of corporate governance as required by laws and further international standards and practices.
In the first 9 months of 2024, it was recorded positive results on the whole Sonadezi system with total revenue of nearly VND 4,401.2 billion and profit after tax of VND 1,198.4 billion, increasing by 10.9% and 22.9% respectively over the same period in 2023. With the target of consolidated profit after tax in 2024 reaching VND 1,370.4 billion, Sonadezi has completed 87.4% of plan after such 9 months.
The parent company (SNZ) alone recorded revenue of VND 565.6 million and profit after tax of VND 346.1 million, up 50.7% and 12.3% respectively over the same period in 2023.
