DNVN - According to experts from Agriseco Research, with the recovery trend of business activities, businesses that have been investing in expanding capacity are expected to benefit to anticipate the trend. Therefore, the codes DBC, DHG, DRC, HPG.... are potential stocks that are named.
Agribank Securities Joint Stock Company (Agriseco) commented that since the beginning of the year, the economy has shown clear signs of recovery such as GDP in the first quarter growing by 5.66% over the same period - the highest level since 2020, the PMI index has recovered to above 50 points, and total import-export turnover in the first 4 months of the year grew by double digits.
With the recovery trend of business activities, enterprises that have been investing in expanding capacity are expected to benefit from the above trend.
Agriseco Research has screened out 8 businesses that have completed basic construction investment or are preparing to put projects and factories into operation in 2024, expecting a cycle of revenue and profit growth.
DBC: Dabaco Vietnam Group Joint Stock Company has invested in increasing capacity with large-scale livestock farm projects such as Thanh Hoa livestock project with a capacity of 5,600 sows and 77,400 commercial pigs; Phu Tho pig breeding project - phase 3 with a capacity of 4,800 sows and more than 70,000 commercial pigs.
DBC is also investing in the second phase of the oil press factory and gradually completing the Dacovac vaccine factory with a capacity of 200 million doses/year. The vaccine factory is currently striving to complete testing by the end of May and conduct GMP assessment, aiming for commercialization in the second or third quarter of this year.
DHG: Hau Giang Pharmaceutical Joint Stock Company is investing in expanding a factory that meets Japan - GMP standards with a total investment of 700 billion VND, helping to increase the company's capacity by 25% compared to before. This factory is expected to operate from the fourth quarter of 2024.
DHG is investing in expanding a factory that meets Japan - GMP standards with a total investment of 700 billion VND.
By building a factory that meets Japan-GMP standards, DHG will increase its competitiveness when bidding for drug groups 1-2 in the ETC channel (hospital bidding). Currently, DHG's ETC channel revenue accounts for about 11% and is on the rise.
DRC (Danang Rubber Joint Stock Company) : Since December 2023, phase 3 of the Radial Tire Factory has been officially put into operation by DRC and can operate at maximum capacity in the second quarter of this year, increasing the Radial tire capacity to 1,000,000 tires/year, an increase of 67% compared to before.
According to the company, the new factory can operate beyond its design capacity, reaching 1,200,000 tires/year.
Putting the Radial tire factory into operation helps DRC anticipate the recovery in demand in 2024, especially in the two main export markets of Brazil and the US, when these two markets are still imposing anti-dumping tax (CBPG) on Chinese tires.
In addition, a lawsuit will be filed against Thai tire companies for dumping in the US market in late 2023. If the US imposes anti-dumping duties on Thai tires similar to what it did to China in 2019, DRC will have more opportunities to increase exports to this market.
DHT (Ha Tay Pharmaceutical Joint Stock Company) : Hataphar High-Tech Pharmaceutical Factory Project in Hoa Lac High-Tech Park with a total investment of 1,350 billion VND. The factory meets EU-GMP standards, produces modern medicine with a capacity of 2 billion products/year, expected to be partially operational from 2024.
According to the management board, when fully operational, the factory can bring in 1,000 billion VND in revenue each year for DHT, an increase of about 50% compared to before.
With the new EU-GMP standard factory, DHT can focus on modern medicine and boost revenue from the ETC channel, which still has a lot of potential.
HPG (Hoa Phat Group Joint Stock Company) : Dung Quat mega project phase 2 is still being implemented on schedule. HPG is expected to complete the first blast furnace by the end of 2024 with a capacity of about 2.8 million tons/year.
HPG's business results in 2024 are expected to be positive thanks to recovering demand and a blast furnace of Dung Quat project phase 2 that can be put into operation from the end of 2024.
HHP (Hoang Ha Hai Phong Paper Joint Stock Company) : HHP's growth prospects come from the Hoang Ha paper factory project in Hai Phong with a capacity of 100,000 tons/year, a total investment of 1,240 billion VND, which is more than 3 times the capacity of the 2 old factories.
The factory has been completed and put into trial operation since December 22, 2023. After being put into operation, the project can contribute greatly to HHP's business results with a capacity scale more than 3 times higher than before.
MSH (Song Hong Garment Joint Stock Company) : Last November, MSH started construction of Xuan Truong II factory with a total investment of more than 700 billion VND, expected to be put into operation from mid-2024. With modern technology and about 50 sewing lines to produce jackets, MSH can increase its capacity by about 25% compared to before. With the new factory, MSH's workforce will increase from nearly 12,000 workers to 15,000 workers.
In addition, the Song Hong 10 Plant is currently operating at around 50% capacity and could continue to improve in 2024 as export orders recover. The expansion of the plant will help MSH enhance its competitive advantage with higher value-added FOB orders.
PVT (PetroVietnam Transportation Corporation): In 2023, PVT invested more than 4,000 billion VND to increase and rejuvenate the fleet, 2.5 times higher than the total investment in 2022.
Specifically, in 2023, PVT put into operation 12 new ships, of which 7 were purchased and 5 were leased. Thereby, PVT increased its net capacity by 377K DWT to 1.6 million DWT (+32% yoy).
In 2024, PVT plans to invest in 21 new ships with a total investment of nearly 500 million USD (about 12,300 billion VND), including 13 oil and chemical tankers, 4 liquefied petroleum gas (LPG) tankers and 4 bulk carriers.
PVT's profit growth prospects in 2024 come from 12 new vessels coming into operation in 2023, mainly concentrated in the second half of the year. Agriseco Research estimates that PVT's profits could increase by 30-40% in 2024...
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Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/chuyen-gia-diem-danh-8-co-phieu-tiem-nang-do-doanh-nghiep-mo-rong-cong-suat-/20240522080617518
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