Mr. Luong Tri Thin, Chairman of the Board of Directors of Dat Xanh Group (DXG) has just reported buying 17.5 million shares in the issuance to existing shareholders. Mr. Thin increased the number of shares at DXG to nearly 122.4 million units. Currently, Mr. Thin is still the largest shareholder of DXG.

DXG has just issued an additional 101.6 million shares to existing shareholders at a price much lower than the market price. Shareholders holding 6 shares have the right to buy 1 additional issued share. The total amount of expected proceeds of 1,200 billion VND will be used by DXG to pay off loans, bond debts and other payment obligations of the parent company and its subsidiaries.

With the number of shares held, Mr. Thin used all 104.89 million purchase rights, the issuance price is 12,000 VND/share. It is estimated that Mr. Thin will spend about 210 billion VND to buy shares.

Notably, 3 months earlier, Mr. Thin had sold 20 million shares, at the highest price in a year, around 19,000-20,000 VND/share. Mr. Thin earned about 420 billion VND, with the aim of lending the company 300 billion VND.

After 3 months, by selling and buying, Mr. Thin's share holding ratio at DXG decreased slightly (down 3%) and earned about 140 billion VND.

At the end of the first 9 months of 2023, DXG only achieved 2,300 billion VND in revenue, down half compared to the same period. Profit after tax only reached 150 billion VND, down 84% compared to the same period in 2022.

Earlier this year, DXG passed a Board of Directors resolution on the policy of borrowing from banks with a limit of VND 4,700 billion to raise capital for production and business.

At the end of the trading session on January 19, DXG shares reached a price of VND 18,950/share.

Business News

The stock market has a number of other important events of listed companies.

* BSI: According to   In the fourth quarter 2023 financial statement, BIDV Securities Joint Stock Company recorded a profit after tax of VND 64 billion, an increase of nearly 300% over the same period. The company's profit for the whole year was over VND 408 billion, 3.6 times higher than in 2022, the highest in over 10 years.

* HCM: Ho Chi Minh City Securities Corporation announced its business results for the fourth quarter of 2023 and the year 2023. Specifically, pre-tax profit for the fourth quarter of 2023 reached VND 225 billion, an increase of 41% over the same period in 2022. Accumulated for the whole year of 2023, HCM recorded pre-tax profit of VND 842 billion, down more than 20%, achieving 93% of the plan.

* LHG: In the fourth quarter of 2023, Long Hau Corporation recorded net revenue of VND 145 billion, an increase of 40% over the same period last year; after-tax profit of VND 62 billion, an increase of 90% over the same period.

* D2D: In the fourth quarter of 2023, Industrial Urban Development Corporation No. 2 recorded net revenue of nearly VND 119 billion, up 56% over the same period. Profit after tax was VND 23 billion, up 69% over the same period.

* BAB : According to the financial statements of the fourth quarter of 2023, Bac A Commercial Joint Stock Bank had a pre-tax profit of nearly 485 billion VND, an increase of 50% over the same period. The profit after tax for the whole year was approximately the same as the previous year, at 835 billion VND, achieving 95% of the annual plan.

* DRC: Danang Rubber Joint Stock Company announced its financial statements for the fourth quarter of 2023 with net revenue recorded at over VND 1,097 billion, down slightly by 2% over the same period. Net profit increased by 19%, reaching nearly VND 96 billion.

* STK: In 2023, Century Fiber JSC reported a profit after tax of more than 87 billion VND, down 64% compared to 2022. This is also the lowest profit of the enterprise in the past 7 years (since 2017).

* DHT: In the fourth quarter of 2023, Ha Tay Pharmaceutical JSC reported a decrease in revenue of 11% compared to the same period, reaching 474 billion VND. Net profit reached 16 billion VND, down nearly 50% compared to the same period.

* VNC: The State Capital Investment Corporation (SCIC) has completed the divestment of 3.15 million VNC shares of Vinacontrol Group Corporation, through a full lot auction. An individual investor spent nearly 172 billion VND to win the bid.

VN-Index

At the end of the trading session on January 19, VN-Index increased by 12.44 points (+1.06%) to 1,181.5 points, HNX-Index decreased by 0.45 points (-0.19%) to 229.48 points, UpCOM-Index increased by 0.31 points (+0.35%), to 87.46 points.

According to SHS Securities, from a short-term perspective, the market is moving positively and has formed a new uptrend. However, the VN-Index will soon encounter the psychological barrier of 1,200 points and may fluctuate. The real strong resistance of the short-term uptrend will be the upper barrier of the medium-term accumulation channel around 1,250 points.

In terms of medium-term perspective, SHS believes that after a strong recovery period, the market is in the process of forming a new accumulation base and is expected to be in the range of 1,150-1,250 points, with a wide fluctuation range, so the time to form a new base will be long.

According to Vietcap Securities forecast, in the coming sessions, the large-cap group may lead the VN-Index to increase and head towards the resistance at 1,190 points. The tug-of-war may take place here due to short-term profit-taking pressure on leading stocks and may promote a downward correction with the VN-Index from the resistance of 1,190 points.

At that time, the group of small and medium-cap stocks will also be affected to some extent by this adjustment effect to attract buying power back to low price areas.

Hoang Anh Gia Lai changed its list of investors for the third time, 130 million shares . In the third change in HAG's list, two organizations, Thaigroup and LPBank Securities, still kept the same amount of shares they wanted to buy, while investor Nguyen Duc Quan Tung withdrew to make room for a new name.