Tiếng Việt
普通话
25
July
Market commentary: Consolidation phase?
Because of selling pressure at the high level, the downtrend is still dominant in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
Research Center
22
July
PNJ – Brief – Impressive growth in 1H22
PNJ posted its preliminary 2Q22 business results with revenue of VND8,058bn (+81% yoy) and NPAT of VND367bn (+65% yoy). For 1H22, revenue was VND18,210bn (+56% yoy) and NPAT was VND1,088bn (+48% yoy), which fulfilled 70.5% and 82.5% of guidance. This implies that June-22 revenue and NPAT were VND2,627bn (-1.6% mom, +160% yoy) and VND82bn (-41.4% mom, +64% yoy), respectively.
22
July
DGC – 2Q22 Earning note
In 2Q22, DGC released the highest result through their operation with a revenue of VND4,002bn (+96% yoy and +10% qoq) and a NPAT of VND1,894bn (+469% yoy and +26% qoq) mainly thanks to high selling prices of yellow phosphorus (P4). Although the reducing in trading volume, P4 export price was shine in 2Q22. Unsurprisingly, P4 export revenue accounted for 69% of DGC’s total revenue in 2Q22.
22
July
ORS – Brief – Big loss from FVTPL, mostly unlisted bonds
On July 20, Tien Phong Securities (ORS) announced financial report for 2Q22. Revenue was VND661.6bn (-18% qoq, +132% yoy) and net loss was VND128.9bn. In 1H22, ORS recorded VND1,472.6bn revenue (+172% yoy) and VND92.5bn net profit (-38.6% yoy). The net loss in this quarter is mainly due to a surprising loss in FVTPL portfolio.
22
July
NLG-Earnings Review-BUY-Riding on the tailwinds
NLG’s revenue boom 209.6% yoy to VND1,241bn in 2Q22 driven a VND1,146bn property sale (47.8x yoy). Contrary to spectacular revenue growth, net profit/NPATMI swelled by +299.4/135.4% yoy to VND192/111bn. In 2022 AGM on Apr, 23, the management expected 2Q22 net profit could book a VND444bn financial gains from revaluation in Paragon Dai Phuoc project when doing business cooperation with a Japanese partner. However, the land investigation from the governmental agencies is slowing the process and the company is waiting for approval to complete the transaction in 3Q22F
22
July
ANV – Brief – Nonrated – Stunning 2Q22 GPM was expected
In 2Q22, Nam Viet posted VND1,294.5bn (+20% yoy) mainly assisted by the 1.05x yoy increase of pangasius export revenue due to the high demand of Asian, EU, and American markets, and VND240.7bn (+9.1x yoy), bolstered by yoy soar of GPM. In 3Q22, we expect that could record a topline jump driven by prosperous demand of pangasius, export volume to China market could increase from 10% in 5M22 to 20-30% in 3Q22 of ANV export value while ASEAN keeps bull demand in 3Q22.
22
July
Daily derivatives: Rebound phase is strengthened
Long VN30F2208 near 1,220-1,225 pts area and stop the loss when there is the closing price below 1,215 pts level. (Hourly chart)
22
July
Market commentary: Attention on Banking
Despite the third recovery, the downtrend is still intact in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
21
July
VHC – Earning review – BUY – VHC conquered new record in 2Q22
VHC’s 2Q22 revenue surged 80% yoy to VND4,226bn and net profit jumped 2.0x yoy to VND788bn, above 1%/40% our 2Q22F estimation and fulfilling 56%/80% our forecast. In 3Q22, we expect that VHC still maintain solid business results compared to 3Q21 but is merely equivalent to new high record at 2Q22, mdue to the soft landing qoq of export fillet pangasius product in key market US.
21
July
PDR-Brief-Nonrated-Bulk sales lead the 2Q22 growth
Phat Dat Group released 2Q22 results on 21 Jul, posting revenue of VND853bn (+58.6% yoy, 36.5% qoq) and net profit/NPATMI of VND409bn/413bn (+62.9/63.9% yoy and 46.6/46.5% qoq), implying EPS of VND671.The key attributes to the flourishing revenue growth are the bulk sales of condo projects in Nhon Hoi Ecological tourism and townhouse project (satellite region Binh Dinh province) and in Bau Ca Residential project (Central Coast Quang Ngai province).
Featured Articles
15
March
Point Break
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
Outlook 2022 – The Big Uptrend
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
Time to bet on economic recovery?
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
Fragile hope of recovery path under the worst outbreak
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
INFLATION: A transient or long-lasting shock?
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.