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FIDES (VIETNAM) Market Statistics 26/12 – 30/12/2022

FIDES (VIETNAM) Market Statistics 26/12 – 30/12/2022

Market Summary
ChangeTrading VolumeTrading ValueForeign net buy/sell
(%)Average daily trading volume (mil.shares)Average daily trading value (mil.USD)Net trading value (mil.USD)
HSX-1.30%514.76386.4792.15
VN30-2.80%174.94174.9448.30
HNX0.005%64.4638.723.72
Upcom0.90%41.5926.622.61

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

Foreign Top buy/sell (HOSE + HNX, mil.USD)

Source: Fiinpro

News

Economy- Society

Macro 2022

  • GDP: GDP growth reached 5.92% yoy in Q4/2022 (higher than 4.7% in Q4/2021). In 2022, GDP 2022 rose by 8.02%, setting a new record since 2011 thanks to the robust growth of 9.99% in services sector, making up 56.65% GDP growth, followed by industrials and construction (+7.78%)
  • CPI: The Consumer Price Index (CPI) in Dec 2022 increased by 4.55% yoy and -0.01% mom. On average, in 2022, the CPI increased by 3.15% yoy and core inflation increased by 2.59% yoy.
  • Export – Import: In Dec 2022, exports of $29.66 bn (-13.96% yoy) and imports of $29.16 bn (-8.14% yoy) resulted in a trade surplus of $500 mn. In 2022, exports of $371.85 bn (+10.61% yoy) and imports of $360.65 bn (+8.35% yoy) resulted in a trade surplus of $11.2 bn.
  • Retail sales: In Dec 2022, retail sales ($21.95 bn) increased by 17.1% yoy, driven by retail sales of goods (+12.8% yoy), accommodation, food & beverage (+33.4% yoy) and tourism services (+113.3% yoy). In 2022, retail sales ($241.7 bn) increased by 19.8% yoy. (Source: GSO)
  • FDI: in 2022, total registered foreign direct investment (FDI) reached $27.72 bn (-11% yoy). In which: newly registered capital reached $12.45 bn (-18.4% yoy), additionally registered capital reached $10.12 bn (+12.2% yoy) and share contribution and acquisition reached $5.15 bn (-25.2% yoy). Singapore is the largest investor with a total investment of $6.46 bn (accounting for 23.3% total registered capital), followed by Korea (17.6%, $4.88 bn) and Japan (17.3%, $4.78 bn). FDI disbursement increased by 13.5% yoy to $22.4 bn. (Source: Ministry of Planning & Investment)

Remittances in 2022

  • World Bank forecasts that remittances to Vietnam in 2022 can climb 4.4% yoy, equivalent to $18.9 bn.

North-South expressway phase 2 construction to kick off on Jan 2023

  • According to Minister of Transport, construction on 12 sub-projects of the North-South Expressway phase 2 (2021-2025) are set to begin on 1 Jan 2023 and open to traffic in 2026.  The projects have an investment of $6.26 bn and a total length of 723.7 km.
  • Main parts are Ha Tinh-Quang Tri (260.9 km), Quang Ngai-Nha Trang (352.06 km), and Can Tho-Ca Mau (110.9 km).

Quanta reportedly to set up plant in northern Vietnam

  • Quanta Computer, a leading laptop manufacturing, intends to establish a factory in Northern Vietnam specializing in producing Apple Macbook.

Company- Sectors

Banking sector

  •  As of 21 Dec 2022, credit growth has reached 12.87% ytd. Up to 27 Dec 2022, credit growth is about 13% ytd, deposit growth is about 6%. Regarding outlook for 2023, SBV will support economic growth, focus credit to production & trading and control strictly credit to risky segments.

MWG (Mobile World Investment Corp.)  

  • 11M2022: revenue of $5.26 bn (+12% yoy, completed 88% target year) and PAT of $170 mn (-9% yoy, completed 63% target year). Of which:
    • TGDD and DMX revenue (accounting for 78% total revenue) reached $1.38 bn and $2.74 bn, respectively, and increased by 15% yoy. For Nov 2022, 2 segments decreased by 22% yoy on revenue.
    • BHX revenue reached $1.04 bn (accounting for 19.9% total revenue), decreased by 7% yoy. For Nov 2022, BHX revenue increased by 28% yoy on revenue.
  • Currently, MWG owns 1,169 TGDD stores 2,277 DMX stores, 1,729 BHX stores, 509 AnKhang pharmacies, 64 AVAKids stores and 13 AVASport stores. (Source: MWG)

ACG (An Cuong Wood – Working JSC)

  • 11M2022, revenue of $159.4 mn (+41% yoy) and PAT of $22.3 mn (+45.65 yoy), completing 93% target 2022. ACG shared that their profit margin improved attributing to a shift in product mix. (Source: ACG)

TLG (Thien Long Group Corporation) CTCP Tập đoàn Thiên Long

  • 11M22, revenues of $141.1mn (38% yoy, completed 102% target year) and NPAT-MI of $18.9mn (74% yoy, completed 159% target year), achieving a historic peak although the growth rate has been slowing down due to seasonal effects. TLG is confident that their 2022 performance shall exceed revenues and profit targets by 10% and 50%, respectively.
  • TLG opened 02 Clever Box stores in Go Vap district and Tan Phu district, HCMC, specializing in selling stationery and innovative DIY and STEAM toys. Clever Box will play an important role in TLG omnichannel ecosystem. (Source: TLG)

GAS (PetroVietnam Gas Joint Stock Corporation)

  • Preliminary 2022 result business: revenue of $4.26 bn (+26.6% yoy) and PAT of $565.96 mn (+53.4% yoy).
  • In 2022, dry gas output reached 7.7 billion m3 (+8% yoy) and condensate output reached 100.000 tons (completed 155% target year).
  • LPG output reached 2 million tons (equivalent to 2021 and completed 118% target year). GAS accounted for 70% of the national LPG market and 11% of the retail LPG market (excluding Gas South).  (Source: GAS)

OIL (PetroVietnam Oil Corporation)

  • OIL estimated 2022 result business: revenue of $4.26 bn (+73% yoy) and PBT of $32.47 mn (-18% yoy).
  • For Q4/2022, revenue of $867 mn (-1.7% yoy) and PBT of $6.26 mn (-54% yoy). (Source: OIL)

DPM (Petrovietnam Fertilizer & Chemicals Corp.)

  • DPM estimated 2022 result business: revenue of $851 mn (+56.4% yoy) and PBT of $272.3 mn (+68.4% yoy).
  • For Q4/2022, revenue of $224.36 mn (+3.7% yoy) and PBT of $43.9 mn (-48.7% yoy).
  • For 2023, DPM targets: PAT of $114.9 mn (-47% yoy).
  • DPM approved to lift the dividend payment for 2022 from 50% cash to 70% cash, the historic record high of DPM. (Source: DPM)

ACV (Airports Corporation of VietNam)

  • ACV estimated 2022 result business: revenue of $654.5 mn (+2.x yoy, completed 149% target year) and PBT of $321.7 mn (+10.x yoy, completed 295% target year). 2022 ACV served 99 million passengers (+228% yoy, completed 122% target year), including: 87 million domestic passenger (+194% yoy) and 12 million international passengers (+23.x yoy).  
  • 2023 plan: revenue of $783.57 mn (+20% yoy) and PBT of $359.49 mn (+11% yoy). ACV estimated to serve 116 million passengers (+17% yoy).
  • Construction of Terminal 3 of Tan Son Nhat International Airport started on 24 Dec 2022. Terminal 3 is designed with a capacity of receiving 20 million passengers/year. The project with a total capital of $467.7 mn is expected to be completed by the end of 2024. (Source: ACV)

PVT (Petrovietnam Transportation Corp.)

  • PVT estimated: 2022 revenue of $389.4 mn (+22.65% yoy, completed 141% target year) and PAT of $46.55 mn (+31.1% yoy, completed 228% target year). (Source: PVT)

HCM (Ho Chi Minh City Securities Corp.)

  • SSC approved the charter capital raise to $195 mn from issuance to existing shareholders, ratio 2:1 at 14,000 VND/share.
  • HCM also planning to do another issuance at 2:1 at VND10,000 per share to existing shareholders approved by AGM 2022.

KBC (Kinh Bac City Development Holding Corp.)

  • 2023 business plan: revenue of $383 mn and PAT of $170 mn, mainly came from delivering 250ha industrial land.
  • Approved the cancellation of 150mn private placement plan.
  • Approved the plan to buy back 100 million treasury shares at the expected price less than VND 34,000/share (13% outstanding shares).
  • Planned to pay 20% cash dividend
  • Expected funding source for treasury shares buyback and dividend payment are proceeds from the sale of 100ha industrial land and receivables collected in 1H2022. (Source: KBC)

VNZ (VNG Corporation) CTCP VNG

  • Vinagame registered to trade 35.8 million shares (code: VNZ) on Upcom from Jan-5, 2023, including 28.7 million outstanding shares and 7.1 million treasury shares.
  • The reference price on the first trading day of VNZ shares is 240,000 VND/share. At this price, VNZ has a market capitalization of less than $350mn.
  • 3 major shareholders are: VNG Limited (headquartered in Cayman Islands) holding 49% charter capital (61.1% outstanding shares); BigV Technology JSC holding 4.6% charter capital (5.7% outstanding shares) and Mr. Le Hong Minh holding 9.8% charter capital (12.3% outstanding shares).
  • 9M2022 consolidated net loss of $32.5mn and parent-company net loss of $17.8mn, resulting from a loss in Zion JSC (the owner of the ZaloPay e-wallet) and Tiki JSC.

DRC (Danang Rubber Joint Stock Company) CTCP Cao su Đà Nẵng

  • Approved to ask for $24.1mn bank loans to finance for the project “increase Radial tires factory capacity to 1mn tires/year”. Collateral: assets arising from the above-mentioned project. (Source; DRC)

GMD (Gemadept Corp.)

  • GMD approved the purchase right issuance plan to existing shareholders. Accordingly, GMD will offer 100.46 million shares at the price of 20,000 VND/share (ratio 90:30). Expected implementation time: 2023.
  • Proceeds will be allocated as follows: $34mn for raising capital contribution to Nam Dinh Vu Port JSC for Nam Dinh Vu port phase 2 expansion and $42.6mn for increasing capital contribution to Cai Mep Gemadept Port JSC. (Source: GMD)

GEX (GELEX Group JSC)

  • GEX bought back $8.5 mn out of $42.5mn of outstanding bond code GEXH2124002, which was issued on 23 Dec 2021 and is expected to mature on 23 Dec 2024.
  • Since Dec 2022, GEX has bought back total of $12.5 mn bond. (Source: GEX)

NVL (No Va Land Investment Group Corporation)

  • Nova Group sold ~98 million NVL shares (5% OS) out of 150 million shares registered via put through from 30 Nov to 29 Dec 2022, decreasing its ownership from 34.41% to 29.38% (572,929,310 shares). (Source: HSX)

PDR (Phat Dat Real Estate Development JSC)

  • Mr. Bui Quang Anh Vu (CEO) bought 18 million PDR shares out of 20 million shares registered from 24 Nov to 20 Dec 2022, increasing his ownership from 0.48% to 3.16% (21,221,105 shares).
  • Mr. Le Quang Phuc (board member) bought 2 million PDR shares from 27 Dec 2022 to 25 Jan 2023, increasing his ownership from 0.23% to 0.53% (3,564,985 shares). (Source: HSX)

NLG (Nam Long Investment Corp.)

  • Dragon Capital bought 1 million NLG shares from 22 Dec 2022, increasing their ownership from 7.84% to 8.1% (31,106,086 shares). (Source: HSX)

OPC (OPC Pharmaceutical JSC)

  • PVI Opportunities Fund (major shareholder) sold 4.77 million OPC shares from 21 Dec 2022, decreasing their ownership from 24.83% to 17.38% (11,134,200 shares). (Source: HSX)

BMI (Bao Minh Insurance Corp.)

  • BMI estimated 2022 result business: revenue of $265.1 mn (+16.51% yoy) and PBT of $14.47 mn (+11% yoy). For 2023, BMP targeted: revenue will increase by 6% yoy and PBT will increase by 10% yoy.
  •  SIC Investment bought 0 share out of 4.9 million shares registered from 24 Nov to 23 Dec 2022. (Source: HSX)

FPT (FPT Corp.)

  • SIC Investment bought 0 share out of 1 million shares registered from 24 Nov to 23 Dec 2022. (Source: HSX)

HPX (Hai Phat Investment JSC)

  • Mr. Do Quy Hai (Chairman) sold 10 million shares (3.29% OS) and will continue to sell 8 million shares (2.63% OS) via order matching/put through from 5 Jan to 3 Feb, decreasing his ownership from 19.03% to 16.4% (49,867,612 shares). (Source: HSX)