FIDES (VIETNAM) PMarket Statistics 11/12 – 15/12/2023

FIDES (VIETNAM) Market Statistics 11/12 – 15/12/2023

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-1.97%679.13635.09(141.80)
VN30-1.57%207.52255.77(87.48)
HNX-1.81%88.8971.836.34
Upcom0.77%39.1620.95(1.41)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy – Society

Macro

  • The US announced CPI in Nov-2023 increased 3.1% yoy (lower than Oct-2023 of 3.2% yoy). Core CPI increased 4.0% yoy. (Source: US Department of Labor)
  • ADB downgraded 2023 GDP growth forecast for Vietnam from 5.8% (in Sep-23) to 5.2% and keeps the 2024 GDP forecast unchanged at 6%. ADB also cut 2023 GDP growth forecast for Southeast Asia from 4.6% to 4.3% and 2024 from 4.8% to 4.7% respectively. (Source: ADB)

Market

  • On 08/12/2023, Fitch Ratings upgraded Vietnam’s long-term national credit rating to BB+ with a stable outlook on the basis of recognizing favorable growth prospects in the medium term, underpinned by strong foreign investment flows. (Source: Fitch Ratings)

FDI

  • Apple is collaborating with BYD (China), an important iPad assembler, to transfer NPI (new product introduction process) resources to Vietnam.
  • The technical verification process for iPad trial production will begin around mid Feb-2024. (Source: Nikkei Asia)

Semiconductor

  • On 11/12/2023, Nvidia’s CEO met with Prime Minister to talk about establishing a center in Vietnam for the future plan of developing semiconductor.
  • Besides, Nvidia’s CEO will have meeting with Vietnamese tech companies including FPT, VIC, Viettel, VNPT, CMC, VNG to discuss about semiconductor cooperation. (Source: Government)

Public investment

  • As of 30/11/2023, the public disbursement of $19.78bn (+3.4% yoy and completed 65.1% of year plan).
  • In Nov-2023, the disbursed capital reached $3.06bn, much higher than the average 11 months of $1.8bn/month. (Source: Ministry of Planning & Investment)

Trade balance

  • Nov-2023, exports of $31.12bn (+7.2% yoy) and imports of $29.58bn (+4.6% yoy), resulting in a trade surplus of $1.54bn. 11M2023, exports of $322.6bn (-5.8% yoy) and imports of $296.75bn (-10.7% yoy), resulting in a trade surplus of $25.85bn. (Source: GSO)

Company – Sectors

Banking sector

  • Fitch Ratings has just announced a rating upgrade for 8 banks in Vietnam: Vietcombank, Agribank, VietinBank, ACB, MB, Standard Chartered Vietnam, HSBC Vietnam and ANZ Vietnam.
  • In which, Fitch Ratings has raised Vietcombank, Agribank and VietinBank’s long-term issuer default rating (IDR) from ‘BB’ to ‘BB+’ and Government support rating (GSR) from ‘bb’ to ‘bb+’. (Source: Fitch Ratings)

Automobiles sector

  • Nov-2023 car sales of 27,953 units (-23% yoy, +10% mom). The mom improvement in car sales was mainly attributed to passenger cars (+14% mom) and special-purpose vehicles (+30% mom). (Source: VAMA)

Steel sector

  • Nov-2023 steel consumption reached 2.5 million tons (+13% mom and +30% yoy). 11M2023 steel consumption reached 23.7 million tons (-6% yoy).
  • VSA expected that steel consumption in 2024 will increase to 21.7 million tons (+7% compared to 2023). (Source: VSA)

Energy sector

  • Vietnam’s imported coal in Nov-2023 reached 4.98mn tons, equivalents to $688 mn (+117.7% yoy in quantity, +60% yoy in value). Accumulated 11M2023, imported coal reached 46.3mn tons, equivalents to $6.54 bn (+58.6% yoy in quantity, -1.8% yoy in value). (Source: Vietnam Customs)
  • The MOIT has just approved the plan to supply gas and coal for electricity production in 2024. Accordingly, the output of gas supplied for electricity production in 2024 is 4,191 – 4,470 bn m3 and 74,307 tons of coal (+62% yoy). (Source: MoIT)

Rice sector

  • Vietnam’s rice export in Nov-2023 reached 600,481 tons (-5% mom), equivalent to $400mn (-1.6% mom).
  • 11M2023 rice exports reached 7.64 million tons (+14.5% yoy), equivalent to $4.33bn (+34.1% yoy). (Source: Vietnam Customs)

HCM (Ho Chi Minh City Securities Corporation)

  • HCM wants to issue 297.2 million shares to increase its capital from $196.6mn to $324.1mn. In which, 228.6 million shares will be offered as public issuance for existing shareholders and 68.6 million shares will be offered as stock dividends.
  • The company plans to use the proceeds to supplement capital for margin lending of $76.6mn and proprietary trading of $21.4mn. (Source: HSX)

HVN (Vietnam Airlines JSC)

  • HVN announced the FY22 audited financial statement with a net loss of $481.7mn. Accordingly, HVN recorded losses for 03 consecutive years, meeting the conditions for delisting on the stock market. The main reason for losses is that HVN’s total costs increased by 84.8% yoy, fuel costs have increased sharply because of the Russia-Ukraine war. HVN’s ability to operate continuously will depend on the financial support from Government and the loans payment extension from commercial banks, credit institutions,…
  • Vietnam Airlines Group (which comprises Vietnam Airlines, Pacific Airlines, and Vietnam Air Services Company) has announced an additional capacity of over 100,000 seats, equivalent to nearly 550 flights, for the peak Lunar New Year (Tet) season from 25/01 to 24/02/2024. These figures bring its totals to 2.1 million seats and 10,700 flights during the period. (Source: HVN)

Bamboo Airways (Tre Viet Aviation JSC)

  • On 11/12/2023, Bamboo Airways has announced that it leased two more Airbus A320 and A321 aircraft for its fleet operating from 01/01/2024, increasing its capacity by over 20% to serve the peak season of the year’s end and traditional Lunar New Year (Tet) 2024 festival. (Source: Bamboo Airways)

VJC (Vietjet Aviation JSC)

  • On 10/12/2023, VJC has just opened more routes connecting Vietnam with Jakarta (Indonesia) and Busan (Korea).
  • On 12/12/2023, VJC launched the direct flight Hanoi – Siem Reap, which will serve passengers from 15/12/2023 with 7 round trips per week, flight time per leg is 1 hour 45 minutes.
  • Hanoi – Jakarta route operates 4 round trips per week on Mondays, Wednesdays, Fridays, and Sundays with a flight time of just over 4 hours.
  • Phu Quoc – Busan route operates 7 round trips per week with only 5 hours and 30 minutes of flight time per leg. (Source: VJC)

FPT (FPT Corporation)

  • FPT announced 11M2023 revenue of $1.94bn (+20% yoy, fulfilled 90% year plan) and net profit of $248mn (+19% yoy, fulfilled 95% year plan)
  • Global IT continues to see sold revenue growth of 29% yoy driven by Japan and APEC, signed revenue reached $1bn (+20.7% yoy). Domestic IT record revenue growth of 5%, continue to overcome the weakness. (Source: FPT)

VHC (Vinh Hoan JSC)

  • Nov-2023 total revenue of $35.2mn (-3% yoy), primarily due to the decrease in these respective product categories: Pangasius Products (-22% yoy), By-products (-43% yoy). The revenue growth is seen to decrease across some regions: the U.S. (-41% yoy), and China (-3% yoy); partly offset by the increase in Vietnam (+44% yoy), Europe (+14% yoy). (Source: VHC)

POW (PetroVietnam Power Corporation)

  • Nov-2023 sales reached $99mn (-10.1% yoy, +25.9% mom), 11M2023 sales reached $1.13bn (+3.01% yoy). Generated capacity 11M2023 reached 13,456 mn kWh (+0.69% yoy).
  • Regarding Nhon Trach 3 & 4, the engineering, procurement, and construction (EPC) progress reached 65.6% at end Nov-2023 (vs POW’s plan of 75.1%). (Source: POW)

DPG (Dat Phuong Group JSC)

  • DPG announced winning the CDT-XL01 Package for the construction of Moc Hoa Bridge in Sa Dec, Hong Ngu, Mo Cay; the renovation of Giong Gang Bridge; and the dismantling of Mang Thit Bridge. The contract value for Dat Phuong’s implementation is over $28mn. (Source: DPG)

ACV (Vietnam Airports Corporation)

  • ACV has submitted a proposal to the Ministry of Transport and the State Capital Management Committee for the expansion of Ca Mau Airport, in alignment with the agreement reached with the People’s Committee of Ca Mau Province. The plan entails upgrading the airport to accommodate up to 1 million passengers annually by 2030. The expansion includes the construction of a new runway to the north, a connecting taxiway, and an expansion of the apron to accommodate four medium-sized aircraft parking positions for A320, A321, A319, and Embraer 195 narrow-body aircraft.

PVD (PetroVietnam Drilling & Well Services Corporation)

  • PVD estimated 2023 NPAT to reach $16.48mn (2022 loss $6.38mn, 4 times target), implying a 4Q23 NPAT of $2.31mn (+5.6% yoy). PVD is considering the acquisition of an existing drilling rig with an estimated capex of $200mn (30% equity and 70% debt). PVD expects that the 2024 domestic demand for drilling rigs will increase to 9 rigs, driven by 12 wells in the Đại Hùng JOC, 8 wells in the Lạc Đà Vàng (Murphy) field, Cá Tầm & Kình ngư trắng (Vietsopetro), Phú Quốc JOC, and Sư tử trắng in the Cửu Long JOC. (Source: PVD)

CII (Ho Chi Minh City Infrastructure Investment JSC)

  • NBB entered into a business cooperation agreement with CII Company for the high-end resort project combined with the De Lagi residential area in Tan Phuoc commune, La Gi town, Binh Thuan province. The maximum collaboration value is $21.46mn, and the collaboration period is up to 7 years. (Source: CII)

HAG (Hoang Anh Gia Lai JSC)

  • Nov-2023 revenue reached $18.56mn (-3% mom) and PAT reached $4.7mn (+6% mom). 11M2023 net revenue of $169.14mn. Revenue breakdown: Livestock contributed $55.65mn, Fruit contributed $87.95mn and Supporting industry contributed $25.54mn
  • Gia Lai Livestock JSC – a subsidiary of the HAGL Group – has paid $30.89mn (including the entire principal debt of nearly $24.18mn and part of the mid term interest of more than $6.71mn) to Eximbank to settle debt from 2014.
  • HAG received loan exemption from Eximbank with the total amount nearly $58.7mn (including part of due interest, all overdue interest and penalty for late payment of interest). (Source: HAG)

NVL (No Va Land Investment Group Corporation)

  • NVL approved the Resolution to use some properties as collaterals to ensure that Delta Valley Binh Thuan Co., Ltd. will comply with the terms signed in the sales contract for products of NovaWorld Phan Thiet with the total contract value of $115.2mn. Previously, NVL’s General Director also announced that they have completed the 1/500 detailed planning adjustment for all items for the entire project.
  • Diamond Properties registered to sell 4,78 million NVL shares from 19/12/2023 to 09/01/2024 via matching/ put-through method. Post-transaction, its ownership will decrease from 9.23% to 8.99%. (Source: NVL)

AGR (Agribank Securities Corporation)

  • AGR revised down the target revenues to $14.83mn (-18% compared to initial plan) but kept the PBT target of $7.5mn and dividend plan of 6%. 9M2023, AGR has met 62% revenue’s plan and 77% PBT plan. (Source: AGR)

HHV (Deo Ca Traffic Infrastructure Investment JSC)

  • On 12/12/2023, HHV approved the investment in Dong Dang – Tra Linh expressway project phase 1, which has total length of 93.35 km. Total investment in phase 01 is worth $578.5mn. (Source: HHV)

BIC (BIDV Insurance Corporation)

  • BIC approved the 2024 target: direct written premium of $225.44mn (+18.9% compared to 2023 plan) and consolidated PBT of $22.34mn (+12.5% compared to 2023 plan). The target combine ratio is 97%. (Nguồn: BIC)

PNJ (Phu Nhuan Jewelry JSC)

  • PNJ approved the issuance of 6.56mn ESOP shares (equivalent to 2% OS). Lock-up: 3 years. Price: VND20,000/share. Implementation time: 15/12/2023 – 29/12/2023.
  • Mr. Le Quang Phuc, member of BoD, sold 23,200 shares from 27/11 to 08/12/2023, cutting his ownership to 0.01% (equivalent to 34,400 shares). (Source: HSX)

HDG (Ha Do Group JSC)

  • Dragon Capital bought 270,000 shares on 07/12/2023, raising their ownership to 13.0253% (equivalent to 270,000 shares). (Source: HSX)