Week 17/10 – 21/10

Stock news (baf.vn, dig.vn, dhg.vn, drc.vn, fmc.vn, fpt.vn, hdc.vn, imp.vn, pdr.vn, plx.vn, ptb.vn, nt2.vn, ntc.vn, szc.vn, vos.vn, vpi.vn)

Comment: A lot is company performance figures – note that 3Q21 has a low base due to the lockdowns (remember those) – thus I can’t comment on every name – too much to go through.

• BAF VN – approved the temporary withdrawal of the application file for the sale of VND600 bn of separate convertible bonds in 2022 to the International Finance Corporation, a member of the World Bank.
• DIG VN: approved the plan to offer up to 100 mn additional DIG shares at the price of VND15,000/ share to existing shareholders. The offering price has decreased by 50% compared to the plan to offer shares at the beginning of the year.
• DGC VN For 3Q22, DGC reached VND3.7trl in net revenue (+75.5% YoY) and PAT noticeably escalated to VND1.5trl (+210% YoY). For 9M22, DGC achieved net revenue of VND11.33trl (+86% YoY, completing 94% of FY target) and PAT of VND4.9trl (+342% YoY, exceeding FY plan by 40%).
• DHG VN For 3Q22, DHG reported net revenue of VND1.16trl (+23% YoY) and PAT noticeably surged to VND262.4bn (+30.3% YoY). For 9M, DHG achieved VND3.35trl in net revenue (+15% YoY, completing 79% FY target) and VND752.2bn in PAT (+24.2% YoY, exceeding FY target by 10%).
• DGC VN: announced 3Q22’s net revenue of VND3,696 bn (+75% YoY) and gross profit reaching VND1,646 bn (2.6 times higher YoY).
• DRC VN For 3Q22, DRC presented net revenue of VND1.35trl (+45.6% YoY) and PAT dramatically surged to VND77.1bn (+128.6% YoY). For 9M22, DRC reached net revenue of VND3.8trl (+24% YoY, completing 85% of FY’s plan) and PAT of VND226.6bn (+11.3% YoY, fulfilling 89% of FY’s target).
• FMC VN: recorded net revenue of VND1,752 bn, PAT of VND80 bn (+7.8% and +25.4% respectively YoY). For 9M22, FMC achieved VND4,491 bn in net revenue, PAT of VND240 bn (+19.6% and +35.6% respectively YoY).
• FPT VN recorded revenue of VND30,975 bn, PBT of VND5,665 bn (+24.1% and +23.8% YoY, respectively). In which, Technology segment recorded a revenue of VND17,742 bn (+24.1% YoY). Newly registered revenue in foreign markets reached VND16,799 bn (+42.6% YoY).
• HDC VN For 3Q22, HDC achieved net revenue of VND344.2bn (+22.4% YoY) while PAT slightly increased to VND72.1bn (+8.3% YoY). For 9M22, HDC reached VND1.12trl in net revenue (+22.2% YoY, completing 59% of FY’s target) and VND249.2bn in PAT (+18.8% YoY, accomplishing 58% of FY’s plan).
• IMP VN For 3Q22, IMP generated net revenue of VND417.9bn (+63% YoY) and 3Q PAT soared to VND55.8bn (+78% YoY). For 9M22, IMP reached VND1.1trl in net revenue (+25% YoY, completing 75% of FY’s plan), VND197.5bn in PBT (+27.3% YoY, fulfilling 72% of FY’s target) and VND155bn in PAT (+26.5% YoY).
• PDR VN For 3Q22, PDR’s net revenue dramatically deteriorated to VND11.1bn (-99.1% YoY) while PAT rose to VND711.2bn (+17.2% YoY) thanks to financial income of VND1.25trl. For 9M22, PDR reported net revenue of VND1.5trl (-37.7% YoY, completing only 14% of FY’s target) and PAT of VND1.4trl (+26% YoY, fulfilling 48% of FY’s plan).
• PLX VN: estimated petroleum loss of VND780 bn in 9M22. For 6M22, PAT was nearly VND309 bn (-87% YoY). Also, PLX has approved the plan to offer all 443,500 BMF shares, equivalent to 10.66% charter capital of BMF Company.
• PTB VN For 9M22, PTB achieved consolidated revenue of VND5.25trl (+9.5% YoY, completing 72.4% of FY target) and PBT of VND521.15bn (+5.7% YoY, fulfilling 66% of FY plan). For 4Q22, co. estimated consolidated revenue of VND1.75trl and PBT of VND170bn, thus bringing the full year results to VND7trl in consolidated revenue (+6.5% YoY, completing 96.6% of FY goal) and VND691bn in PBT (+6.3% YoY, completing 87.5% of FY target).
• NT2 VN For 3Q22, NT2 posted net revenue of VND2.2trl (+73.5% YoY) but PAT subdued by 27.2% YoY to VND199bn. For 9M22, NT2 achieved VND6.9trl in net revenue (+52% YoY, completing 84% of FY’s target) and VND723.6bn (+75.3% YoY, surpassing 55% of FY’s plan).
• NTC VN For 3Q22, NTC announced net revenue of VND53.2bn (+42% YoY) and PAT was VND57bn (+17% YoY). For 9M22, NTC recognized VND189bn in net revenue (+14.5% YoY, only completing 29% of FY’s plan) and VND210bn in PAT (-1% YoY, fulfilling 80% of FY’s target).
• SZC VN For 3Q22, SZC announced net revenue of VND123.3bn (-24.3% YoY) and PAT plunged to VND23.3bn (-65% YoY). For 9M22, SZC recognized VND663.2bn in net revenue (+17.3% YoY, completing 86% of FY’s plan) and VND159.8bn in PAT (-37.5% YoY, fulfilling 87% of FY’s target).
• VOS VN: recorded net revenue of VND712 bn (+85% YoY) and PAT of VND154 bn (-17% YoY). For 9M22, revenue reached VND1,804 bn (+87% YoY) and PAT reached VND470 bn (+15% YoY). The company exceeded 45% of the plan after 3Q22.
• VPI VN 21.999mn shares additional shares, which were previously issued as 2021 stock dividend, will be ready for trading on Oct 25.

News

• The Vietnamese government plans to borrow VND619.49 tn ($25.2 bn) this year (+20.5% YoY) and 92% of it would come from bonds. For 9M22, the government borrowed nearly $185 mn from overseas with an interest rate of 0.1% and a 40-year tenor, and plans to borrow another $188 million Q4. It will pay VND324.58 tn to service existing debts this year.
• Thirty projects invested overseas by State-run enterprises racked up total losses of $335.5 mn in 2021, up 42% YoY. Among them, eight projects in telecommunications made a combined loss of $293.3 mn due to foreign exchange rates and high fees and taxes.
• State President Nguyen Xuan Phuc suggested Vietnam and South Korea strive to raise two-way trade to $100 bn by 2023 and $150 bn by 2030.
• The total value of corporate bonds issued in Q3 declined nearly 71% YoY, with real estate bonds falling by 91%. The issuances totaled over VND60 tn ($2.55 bn) (-50% QoQ).
• Capital disbursements of FDI projects reached $15.4 bn in 9M22 (+16.2% YoY). Some 90% of foreign-invested enterprises had posted positive results in the year to September. More than half of the firms are planning to expand their operations next year. However, newly-licensed FDI capital in 9M22 was $7.1 bn (-43% in value YoY).
• 9M22 saw two-way trade between Vietnam and Singapore expanding 16% YoY to $7 bn. Singapore is the second biggest foreign investor among 139 countries and territories investing in Vietnam, with total registered capital of over $70 bn.
• The Vietnam Singapore Industrial Park (VSIP) Group yesterday, October 17, received an investment certificate to develop a new industrial park in the Mekong Delta city of Can Tho.
• Vietnam’s economy is making strong recovery steps after 2 years of being heavily impacted by the COVID-19 pandemic. For 9M22, GDP growth reached 8.83% YoY, the highest increase in 10 years (from 2011 to 2022); The average CPI in 9M22 increased by 2.73% YoY.