TNV shares of Thong Nhat Hanoi Joint Stock Company, a bicycle manufacturing and trading enterprise, increased for 7 consecutive sessions, reaching VND28,400/share at the close of trading on February 14.
Workers working in Thong Nhat Hanoi factory - Photo: THONG NHAT HANOI
In a document sent to the State Securities Commission, the board of directors of Thong Nhat Hanoi Joint Stock Company (HNX: TNV) said that production and business activities are still taking place normally and there are no special fluctuations.
The continuous increase in TNV stock price since February 6 is due to market supply and demand and the decision to buy and sell shares is decided by investors, beyond the company's control.
The company's board of directors confirmed that there was no impact on the stock trading price on the stock market.
Specifically, TNV will start trading on UPCoM from November 8, 2024, with a reference price of VND 8,900/share.
In the trading session on February 6, 2025, this stock matched orders for the first time, increased by more than 39% and continuously increased until the session on February 14, 2025 (equivalent to an increase of more than 219% in seven sessions).
TNV has low liquidity, fluctuating between 100-400 shares/day and increased to 2,200 shares on February 14.
Currently, the Hanoi People's Committee owns 45% of Thong Nhat Hanoi's capital, while another major shareholder holding 41.68% is Dai Hoang Long Company Limited, a company headquartered in Bac Ninh and the investor of many large real estate projects, especially in the North.
Thong Nhat Hanoi's headquarters is located on an 800m2 "golden land" on Trang Thi Street, Hoan Kiem District. In addition, the company also cooperates in investing and managing a number of other "golden land" areas in the capital.
The predecessor of today's Thong Nhat Hanoi began in 1960, when the Ministry of Industry merged the Dan Sinh Public-Private Partnership Workshop and the Thong Nhat Southern Mechanical Corporation into the Thong Nhat Bicycle Factory.
After more than 60 years of development, this enterprise produces and launches hundreds of thousands of products each year (the plan for 2024 is 120,000 units) with the catchy slogan "Think of bicycles, think of Thong Nhat".
The company divides its product lines into street bikes, children's bikes and sports bikes; of which street bikes contribute the majority of revenue.
Thong Nhat Hanoi recorded a 40% increase in net revenue in the last quarter of 2024 compared to the same period in 2023, with a gross profit margin of 14.5%.
However, selling expenses and administrative expenses both increased compared to the same period in 2023, causing the company to lose nearly VND579 billion in the last quarter of 2024.
The company's management explained the above reason was due to renting a warehouse to stock goods in the Southern region, serving the 2025 sales plan, focusing mainly on popular and mid-range cars.
In addition, the business's operations are seasonal and the last quarter of the year is considered the low sales period, so gross profit does not fully offset management and sales costs.
Undistributed profit after tax at the end of the period of Thong Nhat Hanoi was negative nearly 20 billion VND.
Accumulated for the whole year of 2024, Thong Nhat Hanoi achieved 182.7 billion VND in net revenue (up 3.4% compared to 2023) and net profit of nearly 4.5 billion VND.
Domestic bicycles are being 'made difficult' by imitations and Chinese vehicles
The company's management cited data from Statista saying that revenue from the Vietnamese bicycle segment in 2023 is estimated to reach nearly 296 million USD, with a compound annual growth rate of about 6% in the 2023-2027 period.
It is estimated that about 2.5 million bicycles will be sold in the domestic market by 2027.
However, due to the impact of the pandemic, a large amount of cheap bicycle inventory from China flooded into Vietnam.
Along with that, the situation of fake and counterfeit vehicles still continues, so the domestic bicycle production and business market is increasingly competitive.
Source: https://tuoitre.vn/co-phieu-xe-dap-thong-nhat-tang-tran-lien-tuc-hon-219-20250214225559439.htm
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