TNG CEO wants to buy 1 million shares

TNG General Director Nguyen Duc Manh registered to buy 1 million shares, thereby increasing his ownership ratio in the company from 8.01% to 8.83%.

In a notice sent to the Hanoi Stock Exchange, Mr. Nguyen Duc Manh, member of the Board of Directors and General Director of TNG Investment and Trading Joint Stock Company (stock code: TNG), plans to carry out this transaction by negotiation and order matching from December 2 to December 31.

If successful, Mr. Manh will increase his ownership ratio at TNG from 8.01% (more than 9.8 million shares) to 8.83% (more than 10.8 million shares). Mr. Manh is currently the second largest shareholder at TNG, after the company's Board of Directors Chairman, Mr. Nguyen Van Thoi, who owns 18.53% of the charter capital (more than 22.7 million shares).

Based on the closing price of 24,500 VND/share on November 21, it is estimated that Mr. Manh spent 24.5 billion VND to complete the deal.

The move to buy more shares by the General Director of TNG took place in the context of TNG's market price on the HNX decreasing by 13% compared to the highest price of the year recorded in August 2024 (VND 28,300). However, compared to the level of VND 17,420 at the beginning of the year, this code has increased by 41%.

According to the third quarter financial report, TNG achieved net revenue of nearly VND2,358 billion, up 12% over the same period. Gross profit after deducting cost of goods sold reached more than VND340 billion, up 17% over the same period last year. Gross profit margin reached 14%, equivalent to the level achieved in the same period.

Financial and administrative expenses both increased compared to the same period in 2023. Specifically, financial expenses increased by 5% to VND98 billion, while administrative expenses increased by 19% to VND119 billion. Meanwhile, sales expenses decreased by 6% to VND37 billion and financial revenue increased dramatically from VND28 billion to VND53 billion. This is the main reason why the company reported a sharp increase in pre-tax and after-tax profits compared to the same period in 2023.

Specifically, TNG's pre-tax profit this quarter was approximately VND138 billion and after-tax profit was more than VND111 billion, up 64% and 63% respectively over the same period last year.

According to the Board of Directors, the company's business results improved thanks to focusing on exploiting difficult and complex product lines and expanding export markets. In addition, TNG implemented many improvements in production and management processes to help optimize costs and increase business efficiency.

Accumulated for 9 months, the company's net revenue recorded 5,884 billion VND, up 8% over the same period. Gross profit was about 902 billion VND, up 24% over the same period last year. Gross profit margin was over 15%.

After deducting expenses, the company reported pre-tax and after-tax profits of VND298 billion and VND241 billion, respectively, up 47% over the same period in 2023.

Forecasting that the world economic situation this year will still have many fluctuations, TNG's Board of Directors set a revenue target of VND 7,900 billion (an increase of 11% over the same period). Profit after tax is expected to reach VND 310 billion (an increase of about 42% compared to last year). The company has completed 74% of the revenue plan and 78% of the revenue target after the first 3 quarters of the year.

At the annual shareholders' meeting in April, the company plans to pay a dividend of at least 16% this year (8% in shares and 8% in cash).

On November 11, TNG closed the right to pay the second interim dividend this year in cash at a rate of 4%, equivalent to 400 VND per share. The expected payment date is November 22. With nearly 123 million shares in circulation on the HNX, the company has set aside about 49 billion VND for this payment.

At the end of August, TNG paid a cash dividend to shareholders at the same rate. Thus, the company may have at least one more payment in shares at the rate of 8%.

As of the end of September, the company's total assets were about VND5,257 billion, a slight increase compared to the beginning of the year. Inventories accounted for more than VND896 billion in the company's total asset structure. Liabilities decreased slightly compared to the beginning of the period, down to VND3,389 billion, most of which were short-term. Owner's equity was more than VND1,867 billion and accumulated profit was more than VND197 billion.

Source: https://baodautu.vn/tong-giam-doc-tng-muon-mua-1-trieu-co-phieu-d230639.html