Week 16/01 – 19/01

acb.vn, ctd.vn, eib.vn, fmc.vn, fpt.vn, hax.vn, hbc.vn, hdc.vn, hdc.vn, ht1.vn, mig.vn, pdr.vn, pow.vn, pvs.vn, scs.vn, vci.vn, vib.vn

Company News

ACB VN: The State Securities Commission (SSC) has issued a sanctioning decision against the ACB for not reporting on the expected ACB stock trading. The fine imposed by the SSC is VND3 bn, along with the suspension of securities trading activities of this organization within 4 months.

Comment: Now this is odd…will have to follow up if this related to the person buying/selling or a total suspension of the shares

CTD VN: estimated, in 2022, total revenue of VND14,500 bn (+60% YoY and reaching 97% of the full year plan). For 4Q2022, CTD’s revenue reached about VND6,192 bn (2.1 times higher YoY).

EIB VN: Sumitomo Mitsui Banking Corporation (SMBC) has officially sold 132.8 mn EIB shares on January 13, 2023. After the transaction, SMBC’s ownership ratio decreased from 15.07% (185.3 mn shares) to 4.27% (52.51 mn shares).

Comment: Rumours have it that now SMBC will finally finish buying into VPB

FMC VN: recorded, in 2022, net revenue of VND5,702 bn and PBT of VND328 bn (+10% and +14% respectively YoY), exceeding the revenue target by 8% and PBT target by 3%.

FPT VN: recorded, in 2022, revenue of VND44,017 bn and PBT of VND7,654 bn (+23.4% and +20.8% respectively YoY), exceeding 4% of revenue target and completing 100% of annual profit. For 4Q2022, FPT’s revenue was VND13,040 bn and PBT was VND1,990 bn (+22% and +13% respectively YoY).

FPT VN For 2023, BoD approved to set the 2023 business plan of VND52.3trl in net revenue (+18.8% YoY) and VND9.06trl in PBT (+18.3% YoY).

Comment: The best IT player in the country by a mile

HAX VN: recorded, in 2022, the net revenue of VND6,607 bn and PBT of VND306 bn (+26% and +50% respectively YoY), exceeding 44% of the target. However, for 4Q2022, HAX’s net revenue reached VND1,587 billion (-23% YoY).

HBC VN: The arbitral tribunal has just passed a judgment forcing the Thanh Do Investment Development and Construction Company to pay HBC a total amount of nearly VND368 bn of 12 construction contracts.

Comment: A $hit list company.

HDC VN For 4Q, HDC witnessed the significant deterioration in net revenue of VND173.5bn (-60% YoY) but PAT impressively leapt to VND171.6bn (+68.8% YoY) thanks to abnormal financial revenue of VND255b (vs i=only VND2b in 4Q21’s). For 2022, HDC reported net revenue of VND1.3trl (-4% YoY, fulfilling 68% FY target) and PAT of VND420.8bn (+35.2% YoY, fulfilling 98% FY target).

Comment: Another prop co whose share price looks like an xmas tree.

HT1 VN For 4Q, HT1 generated net revenue of VND2.3trl (+14.4% YoY) and PAT slightly rose by 8.2% YoY to VND57.8bn. For 2022, HT1 achieved net revenue of VND8.9trl (+26.2% YoY, exceeding FY target by 3%) and PAT of VND261.7bn (-29.6% YoY, surpassing FY target by 3%).

MIG VN: recorded, in 2022, a total revenue of VND5,638 bn, of which primary insurance revenue reached VND5,204 bn (+32% YoY

PDR VN: announced the early settlement of bond lots with a total value of nearly VND900 bn.

POW VN: sets, in 2022, a target of total revenue of VND24,242 bn and PAT of VND743 bn (-1.3% and -64% respectively YoY). For 4Q2022, POW recorded a revenue of VND7,961 bn (+121% YoY), of which in December, the corporation estimated revenue of VND3,140 bn.

PVS VN For 2022, PVS estimated consolidated revenue of VND16.9trl (+14.9% YoY, surpassing FY target by 69%) and PAT of VND1.08trl (+23% YoY, exceeding FY plan by 77%).

Comment: Oil and gas, ’nuff said.

SCS VN For 4Q22, SCS reported net revenue of VND195.5bn (-25.6% YoY) and PAT remained almost unchanged at VND157.3bn. For 2022, SCS generated net revenue of VND851bn (+1.4% YoY, fulfilling 89% FY target), PBT of VND696.6bn (+15% YoY, exceeding FY target by 4%) and PAT of VND646.1bn (+14.6% YoY).

Comment: What’s impressive is that despite the drop in revenue, profits still increased tremendously. One day the expansion or the M&A will happen, one day….

VCI VN Equity    For 4Q22, VCI’s operating revenue slumped by 29.7% YoY to VND796.15bn while PAT deteriorated to VND28.4bn (-93.9% YoY). For 2022, VCI generated VND3.2trl in operating revenue (-14.9% YoY, fulfilling 97% of FY target) and VND869bn in PAT (-42% YoY, fulfilling 57% of FY target).

Comment: Every securities firm was hit in the past year.

VIB VN: recorded, in 2022, PBT of more than VND10,580 bn (+32% YoY). ROE performance is consistently above 30%.

Country News

• Samsung’s export value will reach $65 bn, accounting for 9% of Vietnam’s total import and export turnover of $700 bn. In 2022, Samsung sets an export turnover of $69 bn. Thus, the group has achieved 94% of the plan.
• BYD Auto, an automotive firm based in the Chinese province of Guangdong, intends to construct a plant in Vietnam to produce parts for electric vehicles. The plan will kick off in the middle of 2023 with a total investment of $250 mn.
• Prime Minister Pham Minh Chinh has told the Ministry of Transport to complete the construction of 3,000 kilometers of expressway by 2025.
• Vietnam’s auto sales surged 23.92% to 508,547 units last year, as consumption rose post-pandemic, with top auto brands enjoying double-digit growth. The biggest monthly sales last year was recorded in May when over 43,800 units were sold.
• On January 16, HOSE announced the VN30 list for the January 2023 period. The list is effective from February 6 to August 4, 2023. Accordingly, BCM stock entered the VN30 basket this period, replacing KDH.
• The export value of Vietnam’s fruit and vegetable products in December 2022 reached $312.5 mn (+2% MoM and +5.9% YoY). In 2022, the export turnover of vegetables and fruits reached $3.4 bn (-5% YoY).
• The total import-export turnover of goods between Vietnam and European countries in 2022 reached about $76.3 bn (+5% YoY). The trade balance is tilted towards trade surplus $35.5 bn.
• In 2022, the amount of remittances transferred to Ho Chi Minh City will reach about $6.8 bn, accounting for about 50% of the total amount of remittances nationwide. This cash flow contributes to generating foreign currency revenue, stabilizing the exchange rate, stabilizing the foreign exchange market and the city’s economic growth.
• In 2022, businesses issued individual bonds in a total of 420 times with a value of approximately VND244,565 bn (accounting for 96% of the total price of issuance value (-66% YoY). Banking group is still leading in terms of issuance value with a total value of VND136,772 bn (accounting for 53.6% of issuance value). Real estate ranked second with VND51,979 bn (accounting for 20.4%).