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According to GSO estimate, crude oil exploitation in Nov stayed flat at 736,000 tonnes (+0% mom, 1% yoy). In the contrast, crude oil exports and imports rose strongly mom to 300,000 tonnes (+100% mom, -14.3% yoy), and 1.7 mn tonnes (+70% mom, +54.5% yoy). Petroleum production in Nov was up slightly by 6.3% mom to 1.7 mn tonnes. Petroleum imports went up strongly to 800,000 tonnes (+33.3% mom, +42.9% yoy). Oppositely, petroleum export volume went down significantly to 70,000 tonnes (-46.2% mom, -65.0% yoy).

In 10M22, TLG’s net revenue rose by 43% yoy to VND3tn. NPAT also grew 106% yoy to VND420bn. Up to 10M22, TLG has fulfilled 92% of revenue guidance and surpassed 150% of NPAT guidance. The Center warehouse at Le Minh Xuan industrial park has launched in Oct 2022. TLG also inaugurated B2 factory in Dong Nai in Oct 2022 with total investment amount of VND230bn.

According to the GSO estimate, in Nov, the total agriculture export value is USD1,882mn (+5% mom, +10% yoy). In which, the highest export value is cashew with USD458mn (+68% mom, +39% yoy), equivalent to 24% of total agriculture export value.

In Oct 2022, MWG’s net revenue fell by 11% yoy to VND10.9tn. Accumulating 10M22, MWG’s net revenue went up by 15% yoy to VND113.7tn and by 10M22, MWG has met 81% of the revenue guidance. BHX and An Khang would fail to meet the breakeven point in 4Q22F. MWG has delayed the breakeven timeline until 4Q23F, per management. MWG is estimated to meet the revenue target of VND140tn, however, NPAT may drop 10% yoy, fulfilling about 70% of the full-year guidance.

PNJ’s net revenue in Oct 2022 sharply rose by 42% yoy, 17% mom to VND3tn thanks to rising retail sale amid wedding season. Net profit in Oct 2022 increased 23% yoy to VND147bn thanks to the low base and upped 11% mom lower than the revenue growth. GPM in Oct 2022 fell 0.7%p yoy due to change in product mix, GPM in Oct 2022 also slightly decreased 0.2%p mom. Accumulating 10M22, revenue surged by 96% yoy to VND28.5tn, and NPAT shoot up by +118% yoy to VND1,487bn, correspondingly fulfilling 110.5% and 112.6% of guidance.

TNG released Oct financial statements on Nov 18, which delivered positive business results. Specifically, the company posted a revenue of VND569bn (+23% yoy, +2.3% mom) and a NPAT of VND25.9bn (+7% yoy, -1.5% mom). Overall, in 10M22, the company achieved VND5,829bn (+28% yoy) in revenue and VND256bn (+31% yoy) in NPAT, fulfilling 97% and 92% of its 2022F guidance, respectively.

We witnessed the continuing weak sales volume in Oct, which showed a significant drop in demand from both domestic and export channels.

In October, TCM posted solid business results with revenue of USD13.5mn (+17% yoy) and NPAT of USD0.8mn (+917% yoy mainly thanks to better cost management and removal of COVID-19 related cost incurred in Oct 2021). Overall, in 10M22, the company achieved USD156.4mn (+25% yoy) in revenue and USD9.8mn in NPAT (+99% yoy), fulfilling 88% and 91% of its 2022F guidance, respectively.

FPT released preliminary 10M22 business results with revenue of VND33.1tn (+24.4% yoy) and PBT of VND6.5tn (+24% yoy), fulfilling 83% and 85% of its 2022 guidance, respectively. For Oct 22, the company achieved revenue of VND4.1tn (+26.7% yoy), and VND791bn PBT (+25.2% yoy). Technology segment still dominated its position with revenue of VND20tn (+23.7% yoy) and PBT of VND 3.0tn (+25.8% yoy) in 10M22.