FIDES (VIETNAM) Market Statistics 7/8– 11/8/2023

Market Summary
	Change	Trading Volume	Trading Value	Foreign net buy/sell
	(%)	Average daily trading volume (mil.shares)	Average daily trading value (mil.USD)	Net trading value (mil.USD)
HSX	3.91%	1,071.05	942.08	(28.95)
VN30	4.57%	288.07	360.08	25.21
HNX	4.37%	136.55	91.88	(2.03)
Upcom	5.82%	111.45	64.12	41.42

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

GDP in 2H2023

• According to Prime Minister Pham Minh Chinh, the government will not revise its GDP growth target of 6.5% for 2023 and strive to achieve economic expansion of about 9% in the second half of the year.

Vietnam Trade Balance in 7M2023

• According to Vietnam Customs, in Jul 2023, total exports of $30.07 bn (-1.76% yoy) and imports of $27 bn (-11.57% yoy) resulted in a trade surplus of $3.7 bn.
• 7M2023: exports of $195.42 bn (-10.1% yoy) and imports of $178.94 bn (-17.26% yoy) resulted in a trade surplus of $16.49 bn. (Source: Custom)

FDI

• Japan-invested Koyu Textile Vietnam Limited Company inaugurated a $9.68 mn factory in Nghe An province, with an annual capacity of 22.4 million socks and stockings.
• Wistron Corp. (Taiwanese electronics) has approved a proposal to inject $24.5 mn into Wiltron Technology (Vietnam) Co., Ltd, a newly established subsidiary of Wiltron, which is also a major graphics processing unit (GPU) server module supplier of Nvidia Inc., a US multinational technology company. Wistron has so far invested about $300 mn in Vietnam (not including the new $24.5 mn).

Company- Sectors

Brokerage

• There were 150,351 retail accounts opened in Jul 2023 (-23.2% yoy and +3.1% mom). (Source: VSD)

Pharmacy sector

• Dongwha Pharm (Korea) signed a contract to acquire 51% of Trung Son Pharma for $30 mn.
• Founded in 1997, Trung Son Pharma operates 141 drugstores in Vietnam, covering nine provinces and cities in the Mekong Delta and Ho Chi Minh City. Can Tho city has the largest number of outlets with 45 drugstores. It recorded revenues of $56.5 mn in 2022.

Auto sector

• According to BMI Research (Fitch Solutions Company), Vietnam’s EV market is expected to increase by 114.8% yoy to 18,000 units in 2023 and average annual growth of 25.8% over 2023-2032 to reach an annual sales volume of around 65,000 units (2022: 8,400 units).
• Vietnam’s passenger EV market is currently dominated by VinFast, which holds more than 50% market share in 2022. The rest of the market is held by Chinese brands.

Energy sector

• Vietnam National Coal and Mineral Industries Group (Vinacomin) held a groundbreaking ceremony for the project “Renovating, expanding and increasing the capacity of Cao Son coal mine”, which having a total investment of $77.03 mn with mining capacity 4.5 mn tons of raw coal/year, with coal reserves of 51.9 mn tons, equivalent to 65.7 mn tons of raw coal. This will increase coal supply for electricity production.

Sugar sector

• Ministry of Industry and Trade has decided to lower tax imposed on 9 Thai sugar companies after a period of investigation based on these companies’ requests. Accordingly, anti-dumping tax and anti-subsidy tax for 4 companies will be lowered to 32.75%, and tax for other 5 companies will be lowered to 30.38% from 47.64%. The decision will take effect from 18 Aug 2023 to 15 Jun 2026.

VIC (Vingroup Joint Stock Company)

• Shareholders of Black Spade (BSAQ.A), voted on 10 Aug 2023 to approve the merger with VinFast. The merger had valued VinFast at $23 billion. The business combination is expected to close on 14 Aug 2023 and VinFast shares and warrants are expected to list on the Nasdaq under the ticker symbol “VFS” and “VFSWW”, respectively on or around 15 Aug 2023.

HPG (Hoa Phat Group JSC)

• In Jul 2023, construction steel sales volume reached 261,000 tons (-9% mom and -30% yoy) and HRC volume reached 291,000 tons (+16% mom and +94% yoy). Steel pipe and steel sheet volume reached 74,000 tons (+22% yoy) and 32,000 tons (+81% yoy), respectively.
• 7M2023: construction steel sales volume reached 1.9 mn tons (-30% yoy) sand HRC reached 1.5 mn tons (-4% yoy). In addition, HPG sold 399,000 tons of steel pipes (-9% yoy) and 207,000 tons of steel sheet (+5% yoy).
• HPG plans to pause one of its 3 blast furnaces in Hai Duong for maintenance for 3 months since Sep 2023.
• On 4 Aug 2023, HPG hands over a shipment of 100 20-foot containers to New Way Lines Co., Ltd. This is the first shipment after 2 years of investing in a container factory project. The total capacity of the factory is 500,000 TEU/year. In which, the first phase with a capacity of 200,000 TEU/year has been completed and put into operation. HPG is currently the largest container manufacturer in Vietnam as well as in Southeast Asia. (Source: HPG).

HBC (Hoa Binh Construction Group JSC)

• HBC approved the plan to issue total of 274 mn shares, in which:
• Issue 107 mn shares to creditors, for a debt swap at price of 12,000VND/share. Implementation time: 2023 – 2024. Post-issuance, HBC will convert $54.2 mn of debt into shares.
• Issue 120 mn shares via private placement at price of 12,000VND/share. Implementation time: 2023 – 2024
• Issue 47 mn shares via private placement at price of 12,000VND/share to supplement operating capital. (Source: HBC)

VCI (Vietcap Securities JSC)

• VCI approved the syndicated loan arranged by Mega International Commercial Bank with a credit facility limit of up to $100 mn.

FRT (FPT Digital Retail JSC)

• FPT Long Chau Pharmacy signed a strategic partnership with STADA, which is a leading German drug producer, has strengths in the field of good medicine production, European standards and prices suitable to the income of Vietnamese people, meeting the full demand for over-the-counter drug products.

DIC (DIC Investment & Trading JSC)

• DIG (Development Investment Construction JSC) registered to sell all 3.9 mn DIC shares (15.04% OS) via order matching/put through from 8 Aug to 31 Aug 2023. (Source: HSX)

HQC (Hoang Quan Consulting-Trading-Service Real Estate Corporation)

• Mr. Truong Anh Tuan (Chairman) and his related parties registered to sell all 19.3 mn HQC shares (4.08% OS) from 9 Aug to 7 Sep 2023.

CMG (CMC Corporation)

• My Linh Investment (related to Chairman) bought 1.5 mn CMG shares on 2 Aug 2023 via put-through, increasing their ownership from 4.12% to 5.11% (7,699,587 shares). (Source: HSX).

HAH (Hai An Transport & Stevedoring JSC)

• Maritime Supply & Technology Service JSC (related to a BoD member) sold 1.3 mn HAH shares from 28 Jul to 4 Aug 2023, decreasing their ownership from 3.27% to 1.42% (1 mn shares). (Source: HSX).

ANV (Nam Viet Corporation)

• Mr. Doan Chi Thien (CEO’s son) sold 4.1 mn ANV shares from 19 Jul to 8 Aug 2023, decreasing his ownership from 3.12% to 0.05% (70,999 shares). (Source: HSX).

KDC (KIDO Group Corporation)

• VinaCapital sold 2.36 mn KDC shares on 4 Aug 2023, decreasing their ownership from 5.81% to 4.89% (12,575,899 shares). (Source: HSX).

PNJ (Phu Nhuan Jewelry JSC)

• Dragon Capital bought 1.17 mn PNJ shares on 1 Aug 2023, increasing their ownership from 8.78% to 9.14% (29,985,518 shares). (Source: HSX).

ACB (Ngân hàng TMCP Á Châu) ACB (Asia Commercial Joint Stock Bank)

• Dragon Financial Holdings Limited sold 120.98 mn ACB shares on 7 Aug 2023, cutting their ownership from 6.92% to 5.16% (200,436,281 shares). (Source: HSX)