19
October
HND posted its 3Q22 business results with revenue of VND3,070bn (+40% yoy) and PAT of VND41bn (+559% yoy). This implies that 9M22’s revenue and PAT were VND8,273bn (+22% yoy) and VND578bn (+216% yoy), respectively and completed 78%/ 102% of full year guidance.
19
October
Imexpharm (IMP) issued 3Q22’s business results on Oct 18, with a revenue of VND418bn (+63% yoy and +18% qoq) and a NPAT of VND56bn (+81% yoy and +19% qoq). 9M22 revenue and NPAT were VND1,087bn/VND155bn (+25%/+27% yoy), fulfilling 52%/48% of their annual guidance.
17
October
In September, TCM posted robust business results with revenue of USD15.2mn (+91% yoy) and NPAT of USD0.95mn (versus a loss of USD0.6mn in September 2021 due to the lockdown in the Southern region). Overall, in 9M22, the company achieved USD142.9mn (+25% yoy) in revenue and USD9mn in NPAT (+85% yoy), fulfilling 79.4% and 86% of its 2022F guidance, respectively.
11
October
We witnessed the slump in performance of FY2022 on year-on-year basis caused by weak sales volume in first 9 months of 2022, which showed a significant drop in demand from both domestic and export channels.
11
October
September revenue increased 35% compared to low base in Sep 2021 while declining 28% mom since the export value to all markets reduced (-37% mom to US, -10% to EU, and -52% to China). Prelim 3Q22 revenue posted VND3,383bn (+51% yoy and -19% qoq), which is the second highest record.
11
October
The September performance witnessed continuously the decline in export volume caused by weak global demand, however, the domestic sales volume has improved significantly thanks to the low base in 2021.
11
October
The Sept performance witnessed the good domestic sales volume, +37.0% yoy. In which, steel pipes increased by 105.9% yoy while coated steel increased by 118.7% yoy thanks to low base in 2021.
29
September
An Cuong Wood (ACG) will delist on UPCoM, on September, 28th. As such, ACG is going to list on HOSE with its 135.85mn shares in the next few weeks. As one of the top players in the wood and wood products industry, ACG is also among the top-tier local manufacturers and suppliers of interior decoration materials with strong growth prospects assisted by 1) Dominating the domestic markets 2) Expanding capacity to ride on the buoyant market and 3) the high profile shareholders
28
September
PET’s Aug performance stayed flattish with a VND1.7tn of net revenue,+30.9% yoy, and a VND24bn EBT (+4.3% yoy). EBT margin in Aug 2022 was 3.9%, 0.5%p lower yoy due to the revenue collapse of real estate leasing, which had higher profit margin than other segments. We expect the revenue to sharply rise in 2H22F thanks to the high demand of students for the new semester and the latest iPhone 14 model coming in September 2022.
15
March
Regarding the impact of the global commodity price surge on Vietnam CPI, we estimate that the current value of Brent price could push 2022 inflation to exceed the government target of 4%, mainly through the consumption channel. However, implementing well-established tools allows the Vietnam government to mitigate external shocks proactively. To sum up, we forecast that the global commodity surge would create temporary pressure on Vietnam inflation.
27
December
Key factors that drive the stock market to rise in 2022 include: (1) the Vietnam economy recovering and strong growth in 2022 and (2) new money will continue to flow into the stock market as new cash flows into stock markets and new money comes from capital flows of securities companies to margin.
09
November
A record plunge in Vietnam’s economy in 3Q21 has threatened economic prospects in the medium and long term growth. The government is standing in a right place to mitigate the lingering impact of the current outbreak and the next ones if they take appropriate actions in an appropriate timing and appropriate way. Recent macro and policy developments are signaling that the ongoing economic recovery would be smooth and sound, but it needs a booster shot, a sufficiently large fiscal relief package, to accelerate recovery momentum and help economic growth back on track. From our view, the “Economic Recovery and Development” fiscal support package, if successfully passed, would be a key to unlocking the full potential of the economic recovery.
26
July
Amid a widespread COVID-19 delta attack in the Southeast Asia region, Vietnam is stepping into the worst outbreak in both its health and economic impacts. Although the government actively deployed various solutions to follow the twin target that effectively controls the pandemic and promotes socio-economic development, the negative impact of economic recovery is inevitable. We predict that the COVID-19 economic impacts on domestic consumption and production levels would be partly reflected in oncoming macroeconomic updates under strict lockdowns nationwide.
18
June
Surging commodity prices and increasing inflation recently pose a considerable risk to global economic stability. However, the majority of global economists and monetary policymakers just saw this phenomenon as a transitory factor, and this trend would eventually reverse to a normal track in the medium- and long- term. Regarding Vietnam's situation, we saw a stable demand-supply balance in major commodities and well-controlled price conditions. The inflation shock in the near term, if it happens, would be expected to be transient and bear a little risk to the economic stability.
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