Week 22/07 – 26/07

Company: bcg.vn, vic.vn, vjc.vn

BCG VN: begins construction on a waste incineration plant to generate electricity in Ho Chi Minh City, expected to put on operation by the end of 2025.

VIC VN: transferred all ownership shares at VinFa Joint Stock Company.

Comment: Hmmmmmmm is it time to pump VIC?

VJC VN: signed a contract with Airbus to order 20 new generation wide-body aircraft A330neo (A330-900) with total value of $7.4 bn at Farnborough Airshow.

Comment: WITH WHAT MONEY? This company is broke, it’s been broke since covid.

Financials:

• SAB VN: recorded, Q22024, revenue of VND8,086 bn (-3% YoY) and PAT of VND1,248 bn (+8% YoY). For 6M2024, SAB recorded revenue of VND15,270 bn (+5% YoY) and PAT of VND2,246 bn (+6% YoY), completing of 44% of revenue plan and 51% of profit target.
• PAN VN: recorded, Q22024, revenue of VND3,378 bn (+22% YoY) and PAT of VND201 bn (+31% YoY). For 6M2024, PAN recorded revenue of VND6,839 bn (+29% YoY) and PAT of VND370 bn (+39% YoY).
• VND VN: recorded, Q22024, revenue of VND1,458 bn (-9% YoY) and PAT of VND345 bn (-20% YoY). For 6M2024, VND recorded revenue of VND2,843 bn (-2% YoY) and PAT of VND962 bn (+70% YoY).
• NLG VN: recorded, Q22024, revenue of VND252.3 bn (-73.5% YoY) and PAT of VND159.9 bn (-30.9% YoY). For 6M2024, NLG recorded revenue of VND456.9 bn (-61.6% YoY) and PAT of VND94.9 bn (-7% YoY), completing of 7% of revenue plan and 13.4% of profit target.
• ANV VN: recorded, Q22024, revenue of VND1,193.4 bn (+11% YoY) and PAT of VND17.5 bn (-51% YoY). For 6M2024, ANV recorded revenue of VND2,209.4 bn (-1% YoY) and PAT of VND34.4 bn (-17% YoY), completing of 46% of revenue plan and 14% of profit target.
• DGW VN: recorded, Q22024, revenue of VND5,020 bn (+9% YoY) and PAT of VND90 bn (+8% YoY). For 6M2024, DGW recorded revenue of VND10,005 bn (+17% YoY) and PAT of VND182 bn (+12% YoY), completing of 43.5% of revenue plan and 37% of profit target.
• PNJ VN: recorded, Q22024, revenue of 9,519 bn (+43% YoY) and PAT of VND429 bn (+27% YoY). For 6M2024, PNJ recorded revenue of VND22,113 bn (+34% YoY) and PAT of VND1,167 bn (+7% YoY), completing of 60% of revenue plan and 56% of profit target.
• SSB VN: estimated, in Q22024, PBT of VND1,732 bn (+83% YoY). For 6M2024, SSB’s PBT was VND3,238 bn (+61% YoY).
• ACB VN: recorded, in Q22024, PBT of VND5,600 bn (+16% YoY). For 6M2024, ACB’s PBT was VND10,500 bn.
• VRE VN: recorded, Q22024, revenue of 2,479 bn (+14% YoY) and PAT of VND1,021 bn (+2% YoY). For 6M2024, VRE recorded revenue of VND4,733 bn (+15% YoY) and PAT of VND2,104 bn (+4% YoY).
• DGC VN: recorded, Q22024, revenue of 2,505 bn (+4% YoY) and PAT of VND871 bn (-1% YoY). For 6M2024, DGC recorded revenue of VND4,889 bn (-0.2% YoY) and PAT of VND1,515 bn (-7% YoY), completing 48% of revenue and 51% of profit target.
• VCI VN: recorded, Q22024, revenue of 915.9 bn (+82.9% YoY) and PAT of VND279.2 bn (+139% YoY). For 6M2024, VCI recorded revenue of VND1,722 bn (+72.2% YoY) and PAT of VND477 bn (+151% YoY).
• HCM VN: recorded, Q22024, revenue of 1093.9 bn (+86% YoY) and PAT of VND313.4 bn (+99% YoY). For 6M2024, HCM recorded revenue of VND1,957 bn (+60.7% YoY) and PAT of VND590.2 bn (+110% YoY), completing of 51% of the year plan.
• GVR VN: estimated, Q22024, revenue of 5,507 bn (+29% YoY) and PBT of VND1,131 bn (+27% YoY). For 6M2024, GVR recorded revenue of VND10,092 bn (+6% YoY) and PBT of VND1,909 bn (+4% YoY), completing 40% of revenue plan and 47% of profit target.
• VND VN: recorded, Q22024, revenue of 1,458 bn (-8% YoY) and PAT of VND344.9 bn (-18% YoY). For 6M2024, VND recorded revenue of VND2,843 bn (-1% YoY) and PAT of VND962 bn (+71% YoY), completing 48% of the year plan. 
• VIC VN: recorded, in 6M2024, net revenue of VND65,043 bn and PAT of VND2,019 bn. Also, VIC’s total assets reached VND722,259 bn (+8% YoY). 

Country

• In the first half of this year, the banking system managed to handle VND96.7 tn in bad debt, an increase of 28.9% from the same period last year. Of this, 48.9% was handled through risk provisions.
• Plans from the Ministry of Transport for groups of seaports, ports, wharvesand water areas for the period 2021-30, with a vision to2050, put the output of goods through Việt Nam’s seaports atabout 1.2-1.4 bn tonnes.
• The Ministry of Transport plans to disburse over VND37 tn for infrastructure projects in the remaining months of this year.
• HSBC pegs Vietnam’s economic expansion at 6.5% this year, higher than its earlier forecast, thanks to strong recovery in manufacturing, exports and tourism.
• The Vietnamese government has set a goal to bring GDP per capita to $7,500 by 2030, up 75% from 2023. GDP per capita +1.6% to $4,284.5 last year, according to the General Statistics Office.
• The North-South Expressway may receive an additional VND6.3 tn for its second phase from 2021 to 2025, said the Ministry of Transport (MoT) during a capital allocation meeting for infrastructure projects on July 22.
• Country Director of the Asian Development Bank for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 % in 1H.
• Vietnam’s GDP growth in 2Q accelerated to 6.9 % on-year, up from 5.7 % from 1Q, indicating enhanced economic resilience. Real export growth remained robust, with an on-year increase of 17 %, driven by a surge in manufacturing exports and rising foreign direct investment (FDI).
• Vietnam’s export value of wood and wooden products reached over US$8.1 bn by mid-July, a 23.3% increase compared to the same period last year, according to preliminary statistics.
• South Korean Phillips Group is exploring the opportunity to invest in an electric vehicle (EV) and EV battery manufacturing project in the northern province of Bac Ninh.
• HCM City received nearly US$5.2 bn in remittances in 1H of the year, up 20 % year-on-year, according to the State Bank of Vietnam (SBV), HCM City branch.
• The International Monetary Fund (IMF) has also predicted Vietnam’s economic growth at close to 6 % in 2024, supported by continued strong external demand, resilient foreign direct investment, and accommodative policies.
• According to data from Chinese customs provided by the Agency of Foreign Trade under the Ministry of Industry and Trade, Vietnam’s market share for these shellfish in China increased significantly, from 0.2% last year to 19.1% in May.