Recently, CMH Vietnam Group Joint Stock Company (HNX: CMS) sent an official dispatch to the Hanoi Stock Exchange to explain the situation of shares increasing to the ceiling for 5 consecutive sessions.
Specifically, from August 31 to September 8, CMS shares had a dramatic increase in amplitude for 8 consecutive sessions, helping the market price increase from 9 VND/share to 5 VND/share, equivalent to increased by more than 12.500%.
Along with that, the average liquidity also reached nearly 1,2 million shares within 5 sessions. Even at the trading session on September 11, although the stock price dropped by 9%, the liquidity still reached nearly 6,03 million shares. This is the highest level of liquidity for this stock in the past 2 years, the most recent being more than 2 million shares in the trading session on September 1,5, 7.
At the end of the trading session on September 11, CMS shares decreased 9% to 6,03 VND/share. However, before that, in the morning session, this stock also had a dramatic increase in price to 18.700 VND/share, but then immediately changed to the floor price of 21.800 VND/share in just a few days. within a few hours of the session.
Statistics on CMS stock transactions in the last 7 sessions.
The company said that the increase/decrease in CMS stock price depends entirely on supply and demand of the stock market, as well as the tastes and needs of investors. The company's business activities are taking place normally, with no unusual fluctuations and CMH Vietnam does not have any information or influence that affects the transaction price on the market.
During the period of strong stock increases, Mr. Pham Van Xuyen, a major shareholder of CMS, sold 500.000 shares in two sessions on August 31 and September 8 to reduce his ownership ratio from 5% to 9. %.
According to the reviewed financial report, in the first half of 2023, the company recorded net revenue of more than 24 billion VND, profit after tax of 853,8 million VND, an increase of 4% and profit 3 times higher than the previous year. numbers in self-made financial statements.
Explaining the above difference, CMS said that the audit had recalculated and reduced the deferred financial costs of the company's equipment purchase contract; The auditor reclassified the equipment depreciation expense recorded in general management expenses to production costs of the Truong Vinh project.
In addition, the audit unit also re-determines increases/decreases in corporate income tax, which changes the current corporate income tax expense payable. With the above fluctuations, profits in audited financial statements increased significantly compared to self-made financial statements.
On the other hand, compared to the same period with a net loss of nearly 200 million VND, CMS's results in the first half of 2023 are considered a sudden growth.
The company said that revenue in the first 6 months of this year mainly came from the Cam Khe - Central Park urban area project and the Nghi Son cement factory conveyor tunnel wall repair project. In addition, CMS also transferred all capital contributions at CM Phan Thiet Joint Stock Companyt.
