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Khang Dien House Trading and Investment JSC’s (KDH) 3Q22 revenue reached VND802.7bn, -33.1% yoy, +9.6% qoq thanks to the delivery of tens of units in Classia townhouse project. 3Q22 net profit slightly inched up by 11.1% yoy to VND351.6bn, on the back of a VND122.9 other income. Net debt skyrocketed to VND4,452bn (3.9x YTD), driving the net gearing to 38.1% as of end-3Q22 vs 10.9% as of end-4Q21

HSG’ revenue decreased significantly 49.7% yoy to VND7,939bn in 4QFY22 driven mainly by the weak global demand. In which, the total export volume in 4QFY22 dropped to 94,522 tonnes, -75.7% yoy, -58.9% qoq. The 4QFY22 NPAT-MI posted a loss of VND886.9bn whilst the gross profit was negative.

Despite the decent growth of revenue to VND2,168bn (+73% yoy) in 3Q22, NT2’s net profit dropped 27% yoy to VND199bn mostly due to the incurring of VND187bn from bad debt provision related to receivables from EPTC. Overall, the revenue and PAT in 9M22 were VND6,863bn (+52% yoy) and VND724bn (+75% yoy) and fulfilled 84%/155% its full year guidance.

BSR released its 3Q22 financial statement with revenue of VND39.6tn (+123.8% yoy, -24.5% qoq) driven by solid volume and selling prices hike. However, 3Q22 NPAT dropped sharply to VND479bn (- 95% qoq, -0.5% yoy) compared to the high base of all time in 2Q22 due to lower gasoline & diesel crack spreads and a surge in inventory provision (VND656bn in 3Q22 vs VND173bn in 3Q21).

In 3Q22, Petro Vietnam Fertilizer (DPM) recorded a decent business result vs 3Q21 but still lags behind when compared with 2Q22. DPM reported a revenue of VND3,885bn (+37.6% yoy, -22.5% qoq) and VND1,001bn NPAT (58.9% yoy, -25.2% qoq). 9M22 revenue and PBT were VND14,727bn (+91% yoy) and VND5,369bn (+200% yoy), fulfilling 85%/130% of the full-year guidance.

HPG’ revenue decreased 11.8% yoy to VND34,103bn in 3Q22 driven mainly by steel segment. The 3Q22 NPAT-MI posted a loss of VND1,784bn. In 3Q22, the revenue growth was negatively affected by lower average selling price (construction ASP: -10.8% qoq) and weak final-product sales volume given the low base in 3Q21 (+6.1% qoq, +8.5% yoy).

In the short term, the uptrend is still intact as the VNIndex crosses up the 1,000-pts threshold. That implies a short-term recovery. However, the bullish signal is not enough to confirm the medium-term uptrend. Therefore, traders should stay on the sideline and wait for the next signals.

NKG’ revenue decreased significantly 41.3% yoy to VND4,424bn in 3Q22 driven mainly by the weak global demand. In which, the total export volume in 3Q22 dropped to 82,532 tonnes, -63.3% yoy, -52.4% qoq. The 3Q22 NPAT-MI posted a loss of VND418.6bn whilst the gross profit was negative.

The rebound phase is active within the bearish market. Thus, new short position on VN30F2211 is risky, traders should stay on the sidelines and wait for the valid trading point.

The increase in consumer spending in turn helps the economy sustain its expansion. If for some reason consumer confidence declines, consumers become less certain about their financial prospects, and they begin to spend less money; this in turn affects businesses as they begin to experience a decrease in sales.