Organization related to Pinaco's leadership successfully "caught the bottom" with PAC stock
Recently, Saigon 3 Jean Company Limited, an organization related to Mr. Nguyen Quoc Viet, a member of the Board of Directors of Pinaco Southern Battery Joint Stock Company (PAC), sold all 3 million PAC shares that this unit owned. It is worth noting that these shares were only purchased by 3 Jean 15 days ago.
Specifically, from December 14, 2023 to December 15, 2023, Saigon 3 Jean Company Limited purchased 3 million PAC shares to increase its ownership from 0 to 3 million shares, equivalent to 6.46% of charter capital.
Just 15 days later, Saigon 3 Jean registered to sell all 3 million PAC shares to reduce ownership from 6.46% to 0% of charter capital. The transaction was carried out from December 28, 2023 to December 29, 2023.
Pinaco (PAC) organization related to leaders "surf" stocks in 15 days, profit tens of billions of dong (Photo TL)
It is worth noting that with just this short 15-day transaction, it is estimated that Saigon 3 Jean has earned nearly ten billion VND in profit by successfully "buying the bottom" of PAC shares. This transaction would not have been special if Saigon 3 Jean were not related to Mr. Nguyen Quoc Viet, a member of the Board of Directors of PAC.
According to records, in the trading session on December 14, 2023, more than 2 million PAC shares were traded by agreement with a total value of nearly 44 billion VND. On December 15, 2023, nearly 1 million more PAC shares continued to be traded, equivalent to a value of nearly 21.8 billion VND. This amount of shares is equivalent to the amount of shares purchased by Saigon 3 Jean.
As of December 28, 2023, 3.32 million PAC shares were traded with a total value of VND 84.2 billion. This amount of shares also corresponds to the number of shares that Saigon 3 Jean sold. Thus, it is estimated that in just 15 days, Saigon 3 Jean has earned a profit of nearly VND 10 billion in difference just by buying and selling PAC shares.
Revenue down 22%, behind annual business plan
Regarding the business situation, in the 3rd quarter 2023 financial statements, Pinaco recorded net revenue of VND 672.8 billion, down 22% compared to last year. The reason explained by Pinaco was due to a decrease in battery sales revenue. Gross profit brought in VND 95.7 billion, equivalent to a gross profit margin of about 14.2%.
After deducting all expenses, the company's after-tax profit was VND80.3 billion, down 49% compared to the same period last year. Compared to the business target set at the beginning of the year, PAC has only completed 71% of the annual profit target and is behind the set target.
It should be noted that Pinaco still could not complete its set target despite adjusting its business target downward, with revenue falling to VND3,600 billion and pre-tax profit falling to VND145 billion.
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