Yeah1 Group Corporation (stock code: YEG) has just sent a document to the Ho Chi Minh City Stock Exchange (HoSE) reporting that the company has received a decision on administrative sanctions for tax violations from the Tax Department of District 3, Ho Chi Minh City.
Accordingly, Yeah1 was fined nearly 53 million VND for false declaration leading to underpayment of value-added tax, false declaration leading to underpayment of corporate income tax and false declaration of indicators on the declaration. Yeah1 was also charged over 221 million VND in value-added tax and nearly 44 million VND in late payment fees.
In addition, Yeah1’s loss in 2021 was adjusted to be reduced by nearly VND 1.1 billion, due to the transfer of the 2021 loss to the 2022 corporate income settlement period of nearly VND 392 million and the transfer of the 2021 loss to the 2023 corporate income settlement period of nearly VND 694 million. The total loss transferred to the next period is still more than VND 9 billion (loss of 2021).
Yeah1 Group Corporation affirmed that, as of the time of information disclosure, Yeah1 has completed its obligation to pay administrative fines and tax arrears and late tax payments according to the decision.
This is not the first time Yeah1 Group Corporation has been fined for tax. At the end of May 2024, Yeah1 was also fined and had to pay back 991 million VND in taxes.
At the end of 2024, Yeah1 sent a document to HoSE, explaining why YEG shares increased to the ceiling price for 5 consecutive sessions, from December 17-23.
Accordingly, Yeah1 believes that YEG shares have increased to the ceiling for 5 consecutive trading sessions due to the objective supply and demand developments of the stock market. The stock trading price is determined by the market and is beyond the control of the company. Yeah1 commits to not having any impact on the trading price of YEG shares on the stock market.
The company’s business activities are still operating normally, according to the set plan and without any unusual fluctuations.
On the other hand, the company has actively restructured its operations, optimized its management and operations, and focused on developing its core business segments, including the production and broadcasting of digital-based programs and high-quality television programs that have received support from a large audience and created a huge social media effect.
The success of the programs and other business segments contributed to the improvement in the company’s business results compared to the previous period.
Yeah1 has just announced a plan to offer 54.8 million shares to existing shareholders at a rate of 40%, meaning that shareholders who own 100 shares are entitled to buy 40 new shares. The registration period is from February 3 to March 3. With an offering price of VND10,000/share, Yeah1 expects to earn VND548 billion from the above offering. After completing the deal, the company will increase its charter capital from VND1,370 billion to VND1,918 billion.
Source: cafebiz.vn
Source: Vietnam Insider