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FIDES(VIETNAM) Market Statistics 01/08 – 05/08/2022

FIDES(VIETNAM) Market Statistics 01/08 – 05/08/2022

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)
HSX3.85%714.88703.3161.26
VN303.25%190.91259.4290.84
HNX3.91%94.3277.90(0.80)
Upcom1.91%58.8741.70.75

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

PMI Vietnam in July 2022

  • Remained above the 50.0 no-change mark for the tenth successive month in July, signalling a further strengthening of business conditions. That said, at 51.2, down from 54.0 in June the index signaled a softer improvement.

Corporate bond in July 2022

  • According to data of the Vietnam Bonds Market Association (VBMA), in July 2022, there are 28 corporate bonds private placements of $811.3 mn (-38% mom, -52% yoy). Of which, banks are the most active issuers of $654 mn, followed by financial corporates of $96.7 mn.
  • 7M2022: the value of bond public offerings reached $391.13 mn (-6.14% yoy, accounting for 4.5% of the total issuance value) and the value of private issuance of corporate bonds was $8.31 bn (-15% yoy, accounting for 95.5% of the total issuance value).

Company- Sector

The number of Newly Opened Domestic Individual Accounts in July 2022

  • There were 198,988 new retail accounts opened in July 2022 (+96.87% yoy and -57.31% mom). (Source: VSD)

Energy sector

  • Denmark’s Orsted Group, the world’s largest corporation in the wind power industry, has proposed an offshore wind power plant in Hai Phong province. The power plant will have total capacity of 3,900 MW divided into 3 phases, 1,300MW each, to be under operation in 2029, 2035 and 2037. The total investment for each phase is about $3.95 – $4.5 bn, and the total investment of the whole project is up to $11.9 – $13.6 bn.
  • AES Corporation of the United States has proposed a letter of intent to the Vietnamese Delegation with the desire to deploy an offshore wind power project in Binh Thuan province, Vietnam with a total capex of 13 billion USD, with an expected capacity of 4,000 MW.

Insurance sector

  • 7M2022, direct written premium reached $5.9 bn (+15.24% yoy), in which non-life insurance made up $1.7 bn (+13.6% yoy) and life insurance accounted for $4.3 bn (+15.9% yoy). The total payouts reached $1.4 bn (+11.05% yoy), in which $465 mn belongs to non-life insurers and the remaining $918 mn is made by life insurers.

Sugar sector

  • Ministry of Industry and Trade (MoIT) has issued a decision to apple measures on sugar imports from 5 ASEAN countries in 1 Aug 2022. 5 ASEAN countries will be subjected to the same anti-dumping taxes as Thai sugar of total 47.64%. This measure will be effective until 15 June 2026
  • Previously, MoIT officially imposed taxes on Thai sugar on 15 June 2021 and applied for 5 years.

Tourism sector

  • The number of international visitors to Vietnam in Jul 2022 achieved 352,600 arrivals (+49% mom and 47.2x yoy) after Vietnam fully reopened its tourism sector and resumed international air routes. 7 months 2022, international visitors to Vietnam reached 954,600 arrivals, up 10 times yoy but down 90.3% compared to the same period in 2019 before COVID-19 broke out.

Industrial Property

  • Hai Phong province will soon have a new Tien Thanh IP with total areas of 410 hectares. Capex: $69.4mn. Construction: at the end of 2022. Completion: Q4/2023. Time of operation: 50 years.

VNM (Viet Nam Dairy Products JSC)

  • Q2/2022: revenue of $649.14 mn (-5% yoy) and PAT of $90.56 mn (-26.52% yoy). Domestic revenue decreased by 6% yoy due to inflation and export revenue decreased by 12% due to weakening spending power in export markets amid inflationary pressures. Net profit margin decreased from 18% to 14% due to: (1) high raw milk prices, (2) higher promotion expenses and (3) higher transportation costs.
  • 1H2022: revenue of $1.25 bn (-0.34% yoy) and PAT of $189.07 mn (-19.63% yoy). (Source: VNM)

PLX (Viet Nam National Petroleum Group)

  • Q2/2022: revenue of $3.67 bn (+80.01% yoy) due to: surging ASP (60% yoy) and higher petroleum consumption (+10% yoy) as demand recovered when normal life resumed. PAT recorded a loss of $8.53 mn (Q2/2021: $65.12 mn) due to: (1) higher input price, (2) PLX continued sourcing the petroleum imports (at high prices) to ensure petroleum supply to the domestic market and (3) PLX booked a provision of $57.83 mn for its petroleum inventory. Excluding the provision, PAT reached $35.26 mn (-45.8% yoy)    
  • 1H2022: revenue of $6.58 bn (+77.86% yoy) and PAT of $8.97 mn (-90.44% yoy). (Source: PLX)

FRT (FPT Digital Retail JSC)

  • Q2/2022: revenue of $270.14 mn (+42.53% yoy) and PAT of $2.03 mn (+55.12% yoy).
  • 1H2022: revenue of $608.64 mn (+55.12% yoy) and PAT of $9.19 mn (+246.19% yoy). FPTShop revenue increased by 31% yoy, driven by: 35% yoy growth in laptop sales and strong demand for iPhones. Long Chau’s revenue surged 3.0x yoy due to rapid store expansion. Net profit margin increased from 0.7% to 1.5% thanks to operating leverage in the pharmacy business that was backed by scale and product mix. (Source: FRT)

HDG (Ha Do Group JSC)

  • Q2/2022: revenue of $43.812 mn (+115.8% yoy) and PAT of $15.72 mn (+19.1x yoy) due to: (1) the handover of the Charm Villas project (HDG handed over 45 units in Q2/2022) and (2) profit contributions from two new hydropower plants (Dakmi 2 & Song Tranh) and one wind farm (7A) that entered operation in late 2021.
  • 1H2022: revenue of $73.55 mn (-7.09% yoy) and PAT of $26.34 mn (+77.65% yoy). (Source: HDG)

PC1 (PC1 Group JSC)

  • Q2/2022: revenue of $66.0 mn (-49.19% yoy) due to decreasing revenue from power construction (-69% yoy). PAT of $2.74 mn (-80.8% yoy) due to: (1) forex losses and (2) a non-core asset revaluation gains of $11.39 mn recognized in Q2/2021.
  • 1H2022: revenue of $130.26 mn (-33.95% yoy) and PAT of $8.58 mn (-51.75% yoy). (Source: PC1).

ACV (Airports Corporation of VietNam)

  • Q2/2022: revenue of $149.11 mn (+125.04% yoy) driven by the number of domestic passengers recovering and PAT of $112.93 mn (+664.57% yoy) driven by high foreign exchange revaluation gains due to JPY depreciation. ACV had a JPY-denominated debt of JPY67.8 bn as of end-Q2/2022.
  • 1H2022: revenue of $240.79 mn (+61.57% yoy) and PAT of $150.96 mn (+188.74% yoy). (Source: ACV)

HVN (Vietnam Airlines JSC)

  • Q2/2022: revenue of $796.68 mn (+180.32% yoy) due to the sharp recovery in domestic passengers and PAT of loss $111.76 mn (Q2/2021: loss $193.52 mn).
  • 1H2022: revenue of $1.3 bn (+113.93% yoy) and PAT of loss $225.37 mn (1H2022: loss $367.75 mn). (Source: HVN)

VTP (Viettel Post JSC)

  • Q2/2022: revenue of $237.42 mn (+5.17% yoy), of which: core service revenue (delivery services, e-fulfillment & other logistic services) reached $104.4 mn (+31.3% yoy) and trading revenue reached $136 mn (-8.43% yoy). PAT of $4.20 mn (-6.92% yoy) due to: (1) surging gasoline price & (2) higher SG&A expenses.
  • 1H2022: revenue of $225.76 mn (+8.52% yoy) and PAT of $4.62 mn (-6.92% yoy). (Source: VTP)

TLG (Thien Long Group Corp.)

  • Q2/2022: revenue of $47.27 mn (+45.28% yoy) thanks to a low base in Q2/2021 (back-to-school season were negatively impacted by Covid-19) and PAT of $8.07 mn (+103.78% yoy) driven by: (1) low-cost input plastic resin inventory and (2) TLG pushed for product categories with higher margins
  • 1H2022: revenue of $32.54 mn (+31.73% yoy) and PAT of $3.96 mn (+70.54% yoy). (Source: TLG)

GMD (Gemadept Corp.)

  • Q2/2022: revenue of $42.52 mn (+30.1% yoy), of which: (1) port revenue reached $34.78 mn (+22% yoy) thanks to stronger volume growth in Hai Phong (+14% yoy) & higher average fees and (2) logistic revenue reached $7.74 mn (+81% yoy). PAT of $12.52 mn (+103.42% yoy) driven by: higher GPM and surging profit from associates and JVs (mainly attributing to Gemalink).
  • 1H2022: revenue of $32.68 mn (+29.09% yoy) and PAT of $6.15 mn (+94.56% yoy). (Source: GMD)

VIC (Vingroup JSC)

  • VinFast spent $44 million to buy more than 700 hectares of land in Chatham, North Carolina, USA to build an EV factory. Vinfast’s factory is expected to be worth $4 bn, with capacity of 150,000 electric vehicles per year and will be operated since July 2024.

BSI (Bank for Investment & Development of Vietnam Securities Company)

  • On 3 Aug 2022, BSI and Hana Securities signed a strategic cooperation agreement. Accordingly, after Hana Securities become a strategic shareholder of BSI, Hana Securities will support BSI with planning, digitalization, establishing fund management company and risk management.
  • Previously, BSI and Hana signed a share purchase agreement (SSA) in Mar-2022. Specifically, BSI will offer more than 65.73 million private shares to Hana (35% post-money) at the price of 41,000 VND/share, total value of about $117.2mn. (Source: BSI)

VCI (Viet Capital Securities JSC)

  • Stock dividend 2021: 30%. Ex- date: 17 Aug 2022. (Source: VCI)

MBS (MB Securities JSC)

  • Issuance of 53.5 million shares (ratio: 20%) to pay dividend 2021. Ex- date: 12 Aug 2022.
  • Issuance of 59.4 million shares (ratio 45%) to existing shareholders at VND10,000 per share. (Source: MBS)

HSG (Hoa Sen Group)

  • HSG approved to issue 100 million shares to pay dividends for fiscal year 2021 at ratio 20%. Expected time: Sep 2022. (Source: HSG)

GEG (Gia Lai Electricity JSC)

  • Thanh Thanh Cong Industrial Park JSC (related to independent board member) registered to sell 2.3 million shares via order matching/put through from 4 Aug to 31 Aug 2022, decreasing its ownership from 3.83% to 3.12% (10,045,769 shares). (Source: HSX)