More than 40 million shares of Quy Nhon Port listed on HSX

image001 ava.jpg — Source: Quy Nhon Port

Quy Nhon Port Joint Stock Company's stock code is QNP. The reference price on the listing day is 19,100/share, equivalent to a capitalization of 772 billion VND. The trading range on the first day is +/-20% compared to the reference price; the total value of listed securities is nearly 404.1 billion VND.

Quy Nhon Port is a national general port, a regional hub (type 1) of the South Central Coast Seaport Group, located in Quy Nhon Bay, sheltered by Phuong Mai Peninsula, windproof, convenient for ships to anchor and load and unload cargo all year round. Quy Nhon Port can receive ships up to 30,000 DWT and 50,000 DWT ships with reduced load. This is a Port unit known to many domestic and international cargo owners and ship owners for its high productivity, quality, and fast ship clearance.

Regarding business activities, according to the Consolidated Financial Report for the fourth quarter of 2023, cumulatively in 2023, Quy Nhon Port Joint Stock Company recorded revenue of approximately VND 938 billion, down 12% over the same period last year; gross profit margin reached 23% of revenue, up 30% over the same period; while profit after tax increased by 154% to VND 112.3 billion. Undistributed profit after tax as of the end of 2023 was nearly VND 134 billion.

In the planning orientation of Binh Dinh province for the period 2021-2030, with a vision to 2050, recently approved by the Prime Minister , Binh Dinh province will focus on effectively exploiting Quy Nhon port cluster in association with developing the dry port system and modernizing port services, maximizing existing capacity.

The announcement of Quy Nhon Port Joint Stock Company said that with the "public offering" in early 2024, in the coming time, this enterprise will proactively implement a series of development plans, creating momentum to accelerate to improve the quality and scale of the port.

Accordingly, in the investment and development strategy, the enterprise will expand Quy Nhon Port with a vision to 2030 (phase 1), with a total investment of up to nearly 1,567 billion, including the following items: investment in purchasing machinery, vehicles, and equipment; investment in information technology projects; new investment, upgrading and repairing infrastructure, wharves, and ICDs.

According to the report of Quy Nhon Port Joint Stock Company, the port is expected to be able to receive more than 15 million tons of cargo (including more than 350,000 TEUs of container cargo) by 2025; striving to become a modern international general seaport, providing professional seaport and logistics services, meeting international standards and being able to compete in the Southeast Asian region. At the same time, it is shaping up to be an important connection point for maritime trade, especially in the economic development strategy of the South Central Coast, Central Highlands, Northeastern Cambodia and Southern Laos.

Hong Nhung

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