Responding to the general recovery of the market, PTX shares of Petrolimex Nghe Tinh Transport and Services Joint Stock Company (PTS Nghe Tinh) in the session of August 23 also increased by 14.44% to VND 21,400/share, at one point this code even hit the ceiling of VND 21,500/share.
In fact, this code has skyrocketed from 640 VND/share from May 24 to the current price range, corresponding to an increase of more than 33 times in just 3 months. Notably, during this time, this code only had 2 states: increasing or reference, there was no session of decreasing points.
The stock price increased rapidly, but PTX also recorded many sessions with no liquidity, usually only matching orders of about 800 units/day on average. In particular, the session on August 22 saw exceptionally high liquidity with 34,360 units matched, which is also a record number in more than 6 years of listing on UPCoM of PTX.
PTX stock price movement (Source: TradingView).
Previously, PTS Nghe Tinh had to explain the fact that its shares increased to the ceiling price for 5 consecutive sessions from July 8 to 12, 2024. However, the company explained in a "model document" style, stating that the stock price increase was mainly due to supply and demand factors in the stock market. The company did not have any impact that directly affected the transaction price in the market. Currently, all of the company's business activities are still running normally and stably.
Since its listing in July 2018, PTS Nghe Tinh has paid cash dividends every year at a rate of about 8-15%. PTX's recent meteoric rise is partly due to the dividend story.
Specifically, on June 11, PTS Nghe Tinh announced that it would close the shareholder list on June 18 to pay cash dividends at a record high rate of 15%. At that time, PTX was trading on the stock exchange at VND2,500/share (unadjusted).
Regarding business results, from 2017 to present, PTS Nghe Tinh has recorded revenue of thousands of billions of VND, except for 2020 due to the impact of the Covid-19 epidemic. Notably, in 2022 and 2023, revenue was over 2,000 billion VND, with after-tax profits reaching records of 10.3 billion VND and 12.5 billion VND, respectively.
In the first 6 months of 2024, the company recorded net revenue of nearly VND 1,076 billion and profit after tax of VND 7.6 billion; up 4% and 40% respectively over the same period.
Compared to the annual plan, PTS Nghe Tinh has completed 58% of the revenue target and 88% of the profit target after 6 months.
PTS Nghe Tinh was established on the basis of equitization of the Petroleum Transport Enterprise with initial charter capital of 7.5 billion VND, in which the Vietnam National Petroleum Group (Petrolimex) represented the State capital accounting for 30% of the capital. By 2004, PTS Nghe Tinh increased its charter capital to 11.5 billion VND, at the same time the State shareholder also increased its ownership ratio to 51% of the capital.
In June 2010, PTS Nghe Tinh increased its charter capital to VND23 billion, maintaining the State capital ratio at 51%. In early 2017, the company continued to increase its charter capital to VND34.5 billion. In August 2017, Petrolimex established Petrolimex Petroleum Services Corporation (PTC) and transferred the capital portion at PTS Nghe Tinh to PTC for management.
PTS Nghe Tinh focuses on core business activities such as petroleum transportation, petroleum wholesale and retail, along with motor vehicle driver training and testing.
According to PTS Nghe Tinh, petroleum transportation services are the company's core business. The company has a total of 81 vehicles, including 21 tractors with an average capacity of 40 m3/vehicle, enough to meet the petroleum transportation needs of Nghe An, Ha Tinh provinces, part of Thanh Hoa, Quang Binh and Laos.
Source: https://www.nguoiduatin.vn/co-phieu-doanh-nghiep-thuoc-petrolimex-tang-33-lan-trong-mot-quy-204240823161523665.htm
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