Tasco Joint Stock Company (code: HUT) has just announced that its subsidiary SVC Holdings Company Limited will change its name and brand identity to Tasco Auto Company Limited (Tasco Auto) from January 22.

Tasco Auto currently owns 86 showrooms nationwide, distributing 14 car brands including major brands such as Toyota, Ford, Mitsubishi and luxury car brand Volvo. The revenue of the automobile segment exceeds 1 billion USD.

According to data from the Vietnam Automobile Manufacturers Association (VAMA), in the first 9 months of 2023, Tasco Auto accounted for 13.5% of the domestic automobile market share.

It can be seen that changing the name and brand identity to Tasco Auto is a step to transform HUT's new strategic business direction, parallel to the core field of BOT.

The automobile market in Vietnam has changed and developed a lot in recent years. However, this business sector still has many potential risks.

According to VAMA, in 2023, VAMA member units had total sales of 301,989 vehicles of all kinds, down 25% compared to the previous year. Sales of domestically assembled vehicles reached 181,380 vehicles, down 20% while imported vehicles were 120,609 vehicles, down 32% compared to 2022.

Meanwhile, a report by Business Research Insights said that the global automobile market in 2021 was worth $2.73 trillion. The market is expected to grow at a rate of 3.01% during the period 2021-2031, bringing the market size to over $3.57 trillion.

Tasco is a multi-industry business, including: Transport infrastructure and automobile services; Real estate and resorts; Finance and insurance. In which, the core field is transport infrastructure and automobile services, with VETC being the pioneer in operating electronic toll collection (ETC).

One of the recent development strategies of this enterprise is to expand investment through capital contribution and business acquisition.

Therefore, Tasco's asset size has also continuously increased. By the end of the third quarter of 2023, Tasco's total assets reached VND 25,089.4 billion, more than double that of the beginning of the year.

According to BSC Securities Company, in the second quarter of 2023, most of HUT's financial indicators increased significantly after the merger of SVC Holdings. In particular, short-term receivables more than doubled, accounting for VND 3,490.3 billion. Inventories increased nearly 30 times, to VND 2,948.1 billion.

Regarding capital structure, HUT's short-term debt increased 3 times, accounting for 6,614.6 billion VND. Notably, the amount of short-term debt increased from 280.3 billion VND at the beginning of 2023 to 3,115.6 billion VND. Long-term debt also increased from 4,553.8 billion to 5,186.7 billion VND.

At the end of the trading session on January 23, HUT shares reached 19,600 VND/share.

Business News

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

* HRC: By the end of 2023, Hoa Binh Rubber Joint Stock Company's net profit was nearly 17 billion VND, an increase of 72% and 3 times higher than the annual plan.

* SHS : Saigon - Hanoi Securities Corporation announced its financial report for the fourth quarter of 2023 with total operating revenue of negative VND 9.1 billion, while in the same period last year it was VND 610.5 billion.

* VHC: Vinh Hoan Corporation announced that its revenue and profit in 2023 decreased compared to the previous year. Net profit for the whole year of 2023 was recorded at VND 897 billion, down 55% compared to 2022, not reaching the set target.

* SCS: Saigon Cargo Service Corporation has just announced a decrease in business results for the fourth quarter of 2023. Accumulated in 2023, net revenue was more than 700 billion VND and net profit was nearly 500 billion VND, down 17% and 23% respectively compared to the previous year.

* SD6 : Song Da 6 Joint Stock Company announced its business results in the fourth quarter of 2023 with net revenue increasing by 53% but recording a net loss of 75 billion VND. Accumulated for the whole year of 2023, SD6 had a net loss of more than 150 billion VND.

* TIP: Tin Nghia Industrial Park Development JSC announced that in the fourth quarter of 2023, net revenue increased by 2% to nearly 48 billion VND, financial revenue increased by 7.5 times over the same period, to more than 92 billion VND; net profit was nearly 103 billion VND, 2.4 times over the same period.

* SAS: Tan Son Nhat Airport Services Joint Stock Company recorded a sharp decline in business results in the fourth quarter of 2023. Specifically, net revenue was VND 694 billion; profit after tax reached VND 52.9 billion, down 41% over the same period.

* APS: Asia Pacific Securities JSC recorded a loss after tax of VND 4 billion in the fourth quarter of 2023. Accumulated from the beginning of 2023, APS achieved VND 434 billion in revenue, up 3% over the previous year; but the loss after tax was up to VND 172 billion, while in 2022 it lost nearly VND 450 billion.

* BSA: Buon Don Hydropower Joint Stock Company ended the fourth quarter of 2023 with VND 110 billion in revenue, down 11% year-on-year; after-tax loss of VND 3.8 billion (profit of VND 52 billion in the same period).

VN-Index

At the end of the trading session on January 23, VN-Index decreased by 5.36 points (-0.45%) to 1,177.5 points, HNX-Index decreased by 0.51 points (-0.22%) to 229.26 points, UpCOM-Index decreased by 0.27 points (-0.31%), to 87.45 points.

According to BSC Securities, in the coming trading sessions, the market may continue to trade in the range of 1,175-1,185 points. It should be noted that the recovery momentum of VN-Index is not supported by liquidity, which poses potential risks, especially when approaching old resistance levels.

KBSV Securities assessed that the market situation became more negative after the large-cap stocks weakened. Although cash flow has spread to other sectors, the above effect is not very convincing when liquidity remains weak and differentiation occurs between stocks in the same industry group.

ABS Securities commented that indicators are supporting continued growth, but investors need to carefully observe the liquidity of the VN-Index and stocks, as well as the market's excitement.

In the short-term risk scenario, the VN-Index has recovered for 12 weeks and is approaching the strong resistance level of 1,184-1,197 points, close to the long-term downtrend channel.

Selling stocks at the peak and buying them back at a bargain price, tycoon Luong Tri Thin earned more than 100 billion VND . Closing at the peak and buying back stocks at a bargain price, Chairman of Dat Xanh Group Luong Tri Thin earned about 140 billion VND.