Nearly a year after the "soul" of Apec Group, Mr. Nguyen Do Lang, was caught up in a scandal over stock market manipulation in June 2023, recently the trio of Apec group stocks have attracted attention with their soaring trading sessions and continuous good money-making.
Notably, API of Asia-Pacific Investment Corporation has had 5 consecutive ceiling sessions. At the end of the session on May 23, this code increased by 8.86% to VND8,600/share. In just the past month, API has increased 2.2 times from VND4,700/share to the current price range.
Notably, this stock has continuously had no sellers and the ceiling price buy surplus is up to millions of units. The average liquidity has doubled compared to the previous period to about 1.2 million units/session. Of which, May 22 had the highest trading volume with more than 4 million shares.
This increase coincided with the appearance of Mr. Nguyen Do Lang - former Chairman of Apec Group, former member of API's Board of Directors at API's General Meeting of Shareholders on May 10 after being involved in a scandal.
API price movements over the past year (Source: TradingView).
Also in the Apec ecosystem, APS shares of Asia-Pacific Securities JSC and IDJ shares of IDJ Vietnam Investment JSC also had positive trading sessions after the appearance of Mr. Lang.
In just 1 month, IDJ has increased 56.52% from 4,600 VND/share to 7,200 VND/share. Average liquidity is more than 2.5 million units/day, of which on May 14, nearly 8 million shares were changed hands.
Similarly, APS also increased by 46.3% from VND5,300/share to VND7,900/share in the past month. Average liquidity is about 1.4 million units/day, of which May 22 had the highest trading volume with 3.7 million shares.
APS price movement in the past year (Source: TradingView).
Time to take profit?
According to Mr. Nguyen The Minh - Director of Analysis of Yuanta Vietnam Securities Company, the reason for the shocking increase in stock prices comes from two issues. The first is the story related to that stock. At Apec, the stock price had previously dropped sharply due to the scandal of the business leaders, but when Mr. Lang returned, the stock price increased because the problem had been eliminated.
The second is FOMO syndrome. When the stock hit the ceiling for the third session, it attracted the attention of investors, causing many people to have FOMO mentality to buy without caring about the business results.
Mr. Minh assessed that the three stocks in the Apec family have the "form" of highly speculative stocks. However, in the coming time, it is highly likely that these stocks will move in line with the general market. Accordingly, after a period of good market growth and heading towards the old peak of 1,300 points, there is a high possibility that the pressure to adjust will increase.
Therefore, investors who surf hot stocks, in this case the Apec trio, need to be cautious. However, Mr. Minh emphasized that holding or selling depends on the investor's risk appetite.
Dismal business results
Since Mr. Nguyen Do Lang was prosecuted and temporarily detained, Apec businesses have recorded a sharp decline in business results in 2023. API and APS even reported losses.
In 2023, API recorded net revenue of more than VND197 billion, down 75% compared to the previous year. After deducting expenses, the company suffered a record after-tax loss since listing of VND50 billion, while in 2022 it made a profit of more than VND121 billion.
Explaining the above results, API said that the macro real estate market during the period was affected by many negative impacts, causing a sharp decrease in demand. In addition, the company's inventory was not large, so customers had few choices, and partly due to the prolonged bad situation of the real estate market, profits decreased.
By 2024, API plans to do business with total revenue of VND 354 billion, pre-tax profit and after-tax profit of VND 51 billion and VND 38 billion, respectively.
At the end of the first quarter of 2024, the company was still far from its plan when consolidated revenue decreased by nearly half compared to the same period to 34.9 billion VND, equivalent to completing 10% of the target. After deducting taxes and fees, API reported a loss after tax of 11.7 billion VND, while in the same period it had a profit of 4.4 billion VND. This is the fourth consecutive quarter that API has reported a loss, previously in the fourth quarter of 2023, the company also lost 19.45 billion VND.
For Apec Securities, in 2023, the company recorded operating revenue of VND 435 billion, up 3.3% over the same period. However, the after-tax loss was VND 180 billion due to revaluation of assets of the proprietary trading portfolio.
In 2024, Apec Securities plans to have revenue of VND123.4 billion, down 71% year-on-year, and after-tax profit of VND49 billion, far from the loss of VND180 billion in the same period. At the end of the first quarter, the company recorded revenue of nearly VND24 billion, down 81% year-on-year and only completed 14% of the plan. After-tax profit was VND8.1 billion, down 75% year-on-year and completed 16% of the set target.
On the IDJ side, in 2023, the company recorded revenue of more than VND 862 billion, an increase of 6% compared to the previous year, and pre-tax profit of nearly VND 142 billion, a decrease of more than 20%. In the past year, most of IDJ's revenue came from recording the handover of products belonging to the Apec Diamond Park Lang Son project, Apec Mandala Wyndham Hai Duong project, and Apec Mandala Wyndham Mui Ne.
Regarding the 2024 business plan, IDJ expects revenue to reach VND 331 billion and pre-tax profit to reach VND 65 billion, down 60% and 54% respectively compared to the results in 2023. After the first quarter of the year, IDJ recorded revenue of VND 67.7 billion, down 61% over the same period and only completed 20% of the plan. Pre-tax profit reached VND 19.2 billion, down 50% over the same period and completed 29% of the set target .
Source: https://www.nguoiduatin.vn/co-phieu-api-tang-gan-gap-doi-sau-su-xuat-hien-cua-ong-nguyen-do-lang-a664979.html
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