The truth about the wood business in Quang Tri planning revenue of nearly 1 million billion VND

VRG Quang Tri MDF Wood Joint Stock Company (MDF) has just sent a report to the Hanoi Stock Exchange to correct the resolution of the 2025 annual general meeting of shareholders due to a typing error, leading to a wrong unit of measurement.

Specifically, according to the original resolution, MDF's accumulated loss in 2024 was mistakenly recorded from VND 18,955 million to VND 18,955 billion. After review, the company corrected the actual figure to only nearly VND 19 billion.

Meanwhile, in the 2025 business target section, MDF initially set a revenue target of up to VND 981,000 billion with pre-tax and after-tax profits of VND 8,118 billion, then adjusted the targets with revenue of nearly VND 981 billion and profit of more than VND 8.1 billion.

This is not the first time a listed company has encountered technical problems leading to the unintended release of "huge" information.

Last year, Khanh Hoa Power Joint Stock Company also had to report to the Securities Commission and Ho Chi Minh City Stock Exchange to correct the content in the minutes and resolutions of the 2024 annual general meeting of shareholders.

The two documents mentioned above refer to the approval of the company's business plan for 2024. Accordingly, the total expected revenue is up to 6,580,094 billion VND, and the total cost is 6,529,994 billion VND.

Some readers of the minutes were quite surprised because the figure of more than 6.58 quadrillion VND is very large. To put it in perspective, this figure is almost equal to 6.67 quadrillion VND of people's savings deposited in the banking system nationwide at the end of March this year, according to data from the State Bank.

Immediately afterwards, the company's leadership explained that there was a typing error when drafting the minutes and resolutions of the shareholders' meeting.

In addition to the two companies above, many businesses also mistakenly record thousands as millions, millions as billions, or omit the comma separating thousands, add extra or missing "0" when entering quick reports...

Most mistakes do not cause serious consequences, because many shareholders and investors who understand the company's situation can immediately see that it is a typing error. However, this mistake shows a lack of professionalism.