May 8th
1) The stock market witnessed a rebound attempt on May 7, with the VN-Index increasing over 7 points to exceed 1,248 points, albeit with low liquidity. Among the stocks that surged were those in the livestock industry, including DBC, HAG, and BAF.
DBC: DBC saw a 2.25% increase to 29,500 VND/share, marking its 6th gaining session out of the 10 most recent trading sessions. The company's market capitalization reached approximately VND 7,200 billion, with increased liquidity of over 10.7 million shares traded, totaling 314 billion VND. Dabaco, the company behind DBC, has approved capital-raising plans for investment in soybean oil refinery projects and livestock projects.
HAG: HAG shares of Hoang Anh Gia Lai increased by 1.54%, with liquidity returning to over 6.5 million shares/session. The increase followed news of leadership resignations and changes in shareholder structure.
BAF: BAF shares of BAF Agriculture also rose by 0.89%, contributing to the livestock industry's sharp increase. BAF Agriculture announced the closing date for the list of shareholders to issue shares to pay dividends and for sale to existing shareholders. BAF will pay dividends at a rate of 17% and issue more than 68.4 million shares for sale to existing shareholders. The selling price for existing shareholders is 10,000 VND/share, while the market price of BAF shares is 28,450 VND/share.
On May 7, the price of live pigs increased on a large scale with the highest increase of 2,000 VND/kg. In the Northern region, the price of live pigs increased slightly by 1,000 VND/kg, fluctuating between 61,000-64,000 VND/kg.
In the Central-Central Highlands region, live pig prices continue to increase by 1-2,000 VND/kg, up to 63,000 VND/kg. Among them, Binh Thuan and Lam Dong have the highest price of 63,000 VND/kg.
In the Southern region, the price of live pigs ranges from 61,000-64,000 VND/kg, including the provinces of Binh Phuoc, Dong Nai, and City. Ho Chi Minh City, Vung Tau, Long An, Hau Giang, and Bac Lieu recorded a 1,000 VND increase in pig prices compared to yesterday.
2) VND: VNDirect Securities (HoSE: VND) reported significant profits in the first quarter of 2024 despite a slight decrease in operating revenue compared to the same period in 2023, reaching VND 1,285 billion.
- Pre-tax profit increased by 334% over the same period last year, reaching 767 billion VND, with net profit reaching 617 billion VND, up 340%.
- Improved proprietary trading activities contributed mainly to the surge in profits, with self-trading profit increasing by 72% to 524.5 billion VND.
- Revenue from bond trading activities significantly contributed to the company's proprietary trading segment, reaching 265 billion VND.
- Other activities of VNDirect Securities also recorded positive results, with revenue from brokerage activities increasing by 56% to 228 billion VND.
- However, VNDirect lost 0.6% of the brokerage market share in the first quarter of 2024 after experiencing a cyber-attack on March 24, 2024.
- VNDirect's entire trading platform was inaccessible due to the attack, but after a week of troubleshooting, new customers were able to access their accounts and perform basic transactions.
- VNDirect has completed the recovery and reconnection phase, moving to the recovery phase in the four-phase roadmap, and continues to review and upgrade its systems to ensure maximum benefits and safety for customers.
3) CII: Ms. Huong Quynh Nguyen- Vice director of CII- registered to sell 330,000 CII Convertible Bond (CII424002) from 13/5/2024 to 11/06/2024. Method of transaction: Order Matching and/or Put Through Order
Ms. Huong Mai Thi Nguyen- Head of CII's Board of Supervisors - registered to sell 280,000 CII Convertible Bond (CII424002) from 13/5/2024 to 11/06/2024. Method of transaction: Order Matching and/or Put Through Order
Report on results of transactions in CII CB of Ms. Vy- CII’s Organizational and administrative director Tran Yen Vy sold all of her CII’s CB registered to sell (415,000 bonds)
4) APH: An Phat Holdings Group (HNX: APH) announced its consolidated financial statements for the first quarter of 2024, recording a decrease in revenue by 18% to VND 3,388 billion. However, due to a sharper decrease in the cost of goods sold, the company still recorded a gross profit of 419 billion VND, up nearly 24% compared to the first quarter of 2023.
- APH reported a profit after tax of 133 billion VND, 3.8 times higher than the same period last year, equivalent to nearly 61% compared to the performance of the whole year 2023.
- As of the end of the first quarter of 2024, APH's total assets increased slightly to VND 12,507 billion, with short-term receivables experiencing a significant increase.
- At the 2024 Annual General Meeting of Shareholders, APH proposed a business plan with consolidated revenue of 14,000 billion VND and profit after tax of 314 billion VND.
- An Phat Xanh Plastic Joint Stock Company (HoSE: AAA), a subsidiary of APH, reported a profit of 144 billion VND in the first quarter of 2024, a sharp increase compared to the same period last year.
- AAA's revenue decreased sharply, but due to a decrease in cost price, gross profit increased nearly 35% to VND 332 billion.
- As of March 31, 2024, AAA's total assets increased slightly to VND 11,686.6 billion, with short-term receivables experiencing an increase.
- In 2024, AAA plans to do business with consolidated revenue of 12,000 billion VND and profit after tax of 377 billion VND.
- Hanoi Plastic Joint Stock Company (HoSE: NHH), a subsidiary of APH, recorded a revenue decrease of 18% compared to the same period last year but still reported a profit after tax of 40.6 billion VND.
5) BAF: At the 2024 Annual General Meeting of Shareholders, BaF Vietnam Agriculture Joint Stock Company (Stock Code: BAF) announced plans to double the total herd compared to the same period in 2023.
- In 2023, BaF operated 4 new farms in Tay Ninh, increasing the total herd to 37,000 sows and 330,000 pigs by the end of the year.
- For 2024, BaF plans to put 7 new farms into operation and start the construction of 6 more farms, mainly in Western provinces like Ninh Thuan, Binh Phuoc, Gia Lai, Phu Yen, and Nghe An.
- Nine of the company's farms were recognized with GlobalGAP standards - pig farms version 5.2 earlier this year, ensuring biosecurity and compliance with international operating standards.
- BaF emphasizes the importance of biosecurity, especially in the context of complicated African swine fever outbreaks, and adheres strictly to legal regulations and GlobalGAP standards in farm location selection, barn construction, and isolation measures.
- GlobalGAP standards focus on sustainable agriculture, with criteria including animal welfare, identification and traceability of products, biosecurity, reduced use of antibiotics, environmental impact reduction, and social security requirements for workers.
- BaF cooperates with farms and livestock farmers to ensure a clean pork supply, providing pig breeds, and nutritional bran, consulting on farming processes, improving barn standards, and ensuring clean and traceable pork for consumers.
- BaF aims to increase the internal pig herd to 6 million and the joint herd to 4 million by 2030, while also applying sustainable development standards to reduce greenhouse gas emissions.
- Sustainability efforts include feeding pigs vegetarian food, treating and managing waste for reuse, and installing solar power systems for clean energy.
6) Weekly bond report (April 22nd - May 3rd)
Corporate bonds issued in May 2024:
According to the data consolidated by VBMA from HNX and SSC as of 03/05/2024, there are 12 private corporate bond issuances announced in April, with a total value of VND 12,100 billion.
Cumulatively since the beginning of the year, the total value of corporate bonds issuance recorded is VND 36,088 billion. This comprises 06 public offerings with a value of VND 8,878 billion (accounting for 24.6% of the total issuance value) and 30 private placements with a value of VND 27,210 billion (accounting for 75.4% of the total).
Corporate bonds buybacks in May 2024:
According to data consolidated by VBMA from HNX, businesses redeemed VND 21.5 billion worth of bonds in May 2024.
Since the beginning of the year, the total value of bonds redeemed before maturity was VND 37,054 billion, -29.7% YoY. Banking was the leading sector with 43.8% of the total redeemed value (or VND 16,213 billion).
Corporate bonds matured:
The total value of corporate bonds about to mature in the remainder of 2024 is VND 180,457 billion, 41% of which belongs to the real estate sector with VND 73,736 billion, followed by the banking sector with VND 38,097 billion (or 21% total value).
Corporate bond issuance plan in 2024:
HO CHI MINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK (HDB)
The Board of Directors of HDB has approved the first phase of the bond issuance plan in 2024, divided into 2 tranches with a total value of VND 8,000 billion and VND 12,000 billion, respectively.
JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM (BIDV)
The Board of Directors of BIDV has approved the first phase of the bond issuance plan in 2024, with a total value of VND 8,000 billion. These bonds are non-convertible, without warrant, and secured, with a maturity of over 5 years. The expected face value would be VND 100 million/bond,
BINH DUONG MINERAL AND CONSTRUCTION JOINT STOCK COMPANY.
The Board of Directors of Binh Duong Mineral and Construction JSC has approved the bond issuance plan for 2024, with a total value of VND 300 billion. These bonds are non-convertible, without warrant, and secured.