Nam Viet (ANV) has only achieved 5% of the yearly plan, the leader immediately sold 100,000 shares.

ANV market price increased by 19%, leaders immediately sold 100,000 shares

The seafood export market is showing signs of recovery, helping the group of stocks of businesses in this field have a certain breakthrough in recent times.

Specifically, shares of Nam Viet Corporation (ANV) have increased in price from VND28,300/share to VND33,750/share since the end of April, equivalent to an increase of 19% in just over 2 months.

Nam Viet (ANV) has just completed 5% of its annual profit target, and the leader sold 100,000 shares (Photo TL)

Immediately after achieving this price increase, Mr. Nguyen Thanh Liem, Deputy General Director of Nam Viet, registered to sell 100,000 ANV shares. After the transaction, the number of shares Mr. Liem holds will decrease from 452,500 shares to 352,500 shares, equivalent to 0.26% of charter capital.

The transaction is expected to take place from June 20, 2024 to July 19, 2024. Previously, from May 8 to May 10, 2024, another leader of the company, Ms. Do Thi Thanh Thuy - Member of the Board of Directors, also sold 300,000 ANV shares, reducing her ownership from 370,000 shares to 70,000 shares, equivalent to 0.05% of charter capital.

Only completed 5% of the first quarter profit plan

Regarding business activities, although there has been a recovery compared to the quarters in 2023, Nam Viet has not yet caught up with its inherent pace.

In the first quarter of 2024, Nam Viet recorded net revenue of VND 1,016 billion, down 12% year-on-year. Gross profit reached VND 101 billion, down half compared to 2023. The company's after-tax profit reached VND 17 billion, equivalent to a decrease of 81%.

Compared to the business target set at the beginning of 2024, Nam Viet has just completed 20% of the revenue plan. However, with the annual profit plan, the unit completed less than 5% of the target set in the first quarter.

Notably, Nam Viet is also submitting to shareholders for approval a plan to issue shares from equity capital at a ratio of 1:1. This means that each shareholder owning 1 share will receive 1 new share. If the issuance plan is successful, Nam Viet's charter capital will increase from 1,335 billion to 2,667 billion VND.

Undistributed profit after tax accounts for more than half of equity.

At the end of the first quarter of 2024, Nam Viet recorded total assets of VND 5,062 billion, down VND 49 billion compared to the beginning of the year. Of which, short-term assets accounted for VND 2,921 billion, down slightly compared to the beginning of the year.

Current liabilities account for VND2,198 billion, equivalent to 43% of the company's total capital. Most of this is short-term debt, accounting for VND2,007 billion, equivalent to nearly 40%.

Nam Viet's equity reached VND2,865 billion. Undistributed profit after tax is being accumulated very large, up to VND1,535 billion. Thus, Nam Viet's undistributed profit after tax accounts for more than half of ANV's equity.

Source: https://www.congluan.vn/thuy-san-nam-viet-anv-moi-dat-5-ke-hoach-nam-lanh-dao-lien-ban-100000-co-phieu-post299924.html