Company with the largest rare earth mine in Vietnam: Surging profits, high stock price, capitalization of nearly 1.2 billion USD

Although KSV's market price has increased sharply, with a concentrated shareholder structure (TKV holds more than 98% of capital), not many individual investors benefit - Photo: QUANG DINH

At the end of the trading session on January 17, the market price of KSV shares of TKV Minerals Corporation (Vimico) continued to increase by 5% to nearly 150,000 VND.

The sustained, sustainable increase has brought KSV's market price up nearly 210% after 3 months and nearly 450% after one year.

As of November 2024, investors were still trading each KSV share at VND49,000, but after just one quarter, the market price jumped to VND149,500. This is also the record price of KSV shares since being listed.

At the current market price, the market capitalization of TKV Minerals Corporation has reached nearly 30,000 billion VND (approximately 1.2 billion USD). Previously, at the end of October last year, KSV's capitalization was just over 9,700 billion VND.

According to the 2023 annual report, Vietnam National Coal - Mineral Industries Group (TKV) holds up to 98.06% of KSV's capital, equivalent to more than 196.1 million shares.

Therefore, even though the market price increases sharply, with the concentrated shareholder structure as above, not many individual investors in the stock market will benefit.

	Revenue	Profit
2016	3918	8.3
2017	5404	240
2018	5688	-43
2019	6145	174
2020	6162	204
2021	7991	958
2022	12250	194
2023	11911	160
May 9, 2024	9649	787

Data: Financial statements, TTO

As for Vimico, this company owns the Dong Pao rare earth mining and processing project in Lai Chau with a total investment of over 764 billion VND. With an area of ​​over 132 hectares, Dong Pao is the largest rare earth mine in Vietnam.

According to KSV's 2023 annual report, this rare earth mine project is being assigned to Lai Chau Rare Earth Joint Stock Company - Vimico as the investor.

“Due to difficulties in technology, market, capital arrangement and some other problems, the project is being adjusted and partners are being sought,” KSV's report said.

Also according to KSV, at the end of 2023, the company is still reporting to the authorities to remove difficulties and is actively working with authorities and investment partners to implement and adjust the project...

In addition to the Dong Pao rare earth mine, KSV also holds many other mineral exploitation projects such as: Investment project to exploit copper and zinc mine in Bat Xat - Lao Cai; Open-pit mining project of Lang Vinh and Lang Co iron mines (Lao Cai); Sin Quyen copper mine project (Lao Cai)...

The company owns the largest rare earth mine in Vietnam, how does it mine and process gold?

Regarding business situation, KSV's third quarter 2024 financial report recorded revenue of VND 9,614 billion in the first 9 months of 2024, an increase of nearly 9% over the same period.

The positive point is that the cost of goods sold decreased sharply, so KSV's gross profit increased nearly 2.3 times, to 1,800 billion VND.

Despite the sharp increase in costs such as sales and business management, KSV's after-tax profit after 9 months of 2024 still reached 787 billion VND, 6 times higher than the same period in 2023.

Previously, in the 2019-2023 period, TKV Minerals' revenue increased from VND 5,688 billion (2019) to nearly VND 12,000 billion (2023).

KSV's after-tax profit during the above period also fluctuated quite erratically. For example, in 2019, there was a loss of 43 billion VND, but in 2021, there was a sudden profit of 958 billion VND. The remaining profit usually fluctuated between 200 - 300 billion VND.

The company's report also said that in 2023, it will exploit and produce more than 962 kg of gold bars, 1,744 kg of silver bars, more than 206,552 tons of steel billets, 4,900 tons of lead concentrate...

Source: https://tuoitre.vn/cong-ty-co-mo-dat-hiem-lon-nhat-viet-nam-lai-dot-bien-co-phieu-tang-cao-von-hoa-gan-1-2-ti-usd-2025011819144951.htm