According to the recently released consolidated financial report for the second quarter, Minh Phu Seafood Corporation (MPC) had net revenue of VND2,349 billion, down 48% compared to the same period last year. At the end of the second quarter, Minh Phu Seafood reported a profit of VND10.95 billion.
Explaining the decrease in profit compared to the same period last year, Minh Phu Seafood said that it was due to a decrease in sales revenue during the period. The production and business activities of shrimp farming companies were not effective.
At the 2023 Annual General Meeting of Shareholders, the leadership of Minh Phu Seafood assessed that from August 2023, shrimp prices will increase, which will resolve inventory. The company's business situation will be better from August 2023. The company is still confident in completing this year's plan.
Minh Phu is a leading enterprise in the field of shrimp farming and export, known as the "king of shrimp". In 2023, Minh Phu Seafood plans to have revenue of VND 12,790 billion and profit after tax of VND 639 billion.
Sharing the same situation of decreasing profits in the second quarter, the “pangasius queen” Vinh Hoan Corporation had net revenue and profit of VND2,724 billion and VND412 billion, respectively, down 36% and 48% compared to the same period. Explaining this issue, the company said that it was due to a decrease in quantity and selling price.
In the first 6 months of the year, VHC's net revenue reached VND4,945 billion, down 34%. Profit after tax reached VND631 billion, down 52% over the same period.
Vinh Hoan is associated with the name of the "boss" of pangasius exports - female general Truong Thi Le Khanh. In 2023, Vinh Hoan sets the target of consolidated revenue and net profit of VND 11,500 billion and VND 1,000 billion, respectively.
Business News
The stock market has a number of other important events of listed companies.
* GAS : PetroVietnam Gas Corporation announced its consolidated financial statements for the second quarter and the first half of 2023. In the second quarter, GAS recorded net revenue of VND 24,043 billion and profit after tax of VND 3,196 billion. In the first half of 2023, GAS recorded net revenue of VND 45,257 billion and profit after tax of VND 6,613 billion.
* ITA: Tan Tao Investment and Industry Corporation recorded a profit of VND 23.88 billion in the second quarter, and a cumulative profit of VND 39.02 billion in the first 6 months of 2023, down 69.8% over the same period last year.
* TTF : In the second quarter, Truong Thanh Wood Industry Group Corporation recorded net revenue of VND388 billion, net loss of VND28 billion. Accumulated in the first 6 months of the year, TTF recorded net revenue of VND720 billion, net loss of VND25 billion.
* TMS : In the second quarter, Transimex Corporation recorded net revenue of nearly VND526 billion and after-tax profit of nearly VND26 billion. Accumulated in the first 6 months of the year, net revenue reached VND988 billion and after-tax profit of VND78 billion.
* TMT : According to the consolidated financial statements of TMT Auto Corporation, revenue in the first half of the year was recorded at VND 1,528 billion, down 15% over the same period.
Transaction information
* POM : Ms. Do Nhung, sister of Mr. Do Duy Thai, Chairman of the Board of Directors of Pomina Steel JSC, registered to sell all of the more than 7.28 million POM shares she owns, accounting for 2.6%. The transaction is expected to take place from August 7 to September 5 by negotiation and order matching.
* RDP : Mr. Ho Duc Lam, Chairman of the Board of Directors of Rang Dong Holding JSC, registered to sell more than 2.49 million RDP shares from August 7 to August 31 by negotiation and order matching.
* CMG : Mr. Nguyen Minh Duc, Member of the Board of Directors of CMC Technology Group Corporation, registered to buy more than 3.47 million CMG shares, at a rate of 2.3% from August 4 to September 2 by negotiation and order matching.
* HMH : Mr. Tran Duc Chung, member of the Board of Directors of Hai Minh Joint Stock Company, registered to buy 150,000 shares from August 4 to August 31 by negotiation and order matching. Before the transaction, Mr. Chung did not hold any HMH shares.
* ACL : Mr. Tran Tuan Nam, younger brother of Ms. Tran Thi Van Loan, Chairman of the Board of Directors of Long An Seafood Import-Export JSC, registered to sell more than 1.31 million ACL shares from August 4 to September 1 by negotiation and order matching.
VN-Index
At the end of the session on August 1, VN-Index decreased by 5.34 points (-0.44%), down to 1,217.56 points. HNX-Index decreased by 0.21 points (-0.09%), down to 239.35 points. UpCoM-Index increased by 0.86 points (+0.96%), up to 90.21 points.
Commenting on the market trading session on August 2, KB Securities Vietnam (KBSV) said that active selling pressure overwhelmed the buying side, along with increased liquidity, causing the market to be under strong correction pressure, despite the efforts of large-cap stocks to maintain the VN-Index.
However, the support level of 1,215 points and deeper at 1,195 points are expected to act as notable support points for the VN-Index.
Investors are recommended to trade in balance, sell at lower proportions when the index exceeds the peak and only reopen purchases when the index returns to around the support level.
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