Hai Phat Investment Joint Stock Company (code: HPX), chaired by Mr. Do Quy Hai, has just announced that it has made an early purchase of all VND 350 billion of HPXH2224001 bonds due on January 12, 2024. Thus, HPX has reduced the outstanding bond balance to VND 0.

Previously, HPX also announced that it had paid interest for the fourth period of the bond lot coded HPXH2124009 with an amount of more than 14.3 billion VND.

HPXH2124009 bond was issued on November 25, 2021 with a term of 3 years, interest rate of 10%/year and collateral is HPX shares owned by a third party.

In the first half of 2023, Hai Phat incurred late interest payments on 3 bonds including HPXH2123011 bond (face value of VND 450 billion), HPX122018 bond (face value of VND 300 billion) and HPXH2125007 bond (face value of VND 500 billion).

In addition, in October 2023, HPX sent a dispatch to the Hanoi Stock Exchange (HNX) regarding a one-year extension for bonds coded HPXH2123008, with a total issuance value of VND 250 billion. The maturity date of this bond code is expected to last until October 28, 2024.

In terms of business activities, in the first 9 months of 2023, HPX achieved VND 1,197 billion in revenue, down 8.5% over the same period; profit after tax reached VND 61.5 billion, down 50.1% over the same period in 2022.

According to the plan, in 2023, HPX sets a revenue target of VND 2,500 billion, minimum profit of VND 120 billion and no dividend payment.

On the market, HPX shares fluctuate around more than 5,200 VND/share. At this price, HPX shares have decreased 4 times compared to 20,000 VND/share in November 2022.

With more than 304 million shares outstanding, HPX's market capitalization has decreased by nearly VND4,500 billion in just over a year.

At the end of the trading session on January 9, HPX shares reached 5,460 VND/share.

Business News

The stock market has a number of other important events of listed companies.

* FLC: According to the decision dated December 29, 2023, the Hanoi Tax Department will enforce the decision on administrative enforcement of tax by deducting money from the account of FLC Group Corporation. The total amount of enforcement is approximately 90 billion VND.

* TCR: Taicera Ceramic Industry JSC decided to sell all 51% of its capital at Taicera Development Company Limited to Saxon International Co Ltd - a subsidiary specializing in real estate business.

* APF: Quang Ngai Agricultural Products and Food JSC plans to pay interim cash dividend for the first period of 2023 at a rate of 20% (VND 2,000/share). The ex-dividend date is January 24, the expected payment date is February 23, 2024.

* S4A: In 2023, Se San 4A Hydropower Joint Stock Company achieved VND 286 billion in revenue, 7% lower than the same period; after-tax profit was VND 137 billion, down 21%. Compared to the plan approved by the 2023 Shareholders' Meeting, S4A nearly completed the revenue target with 97% and exceeded the after-tax profit plan by 20%.

* LGM: The shareholder structure at Export Garment and Leather Footwear JSC has changed with Ms. Bui Thi Thuy Chung becoming a major shareholder after buying nearly 1.1 million shares, while Giditex left after selling all of its nearly 1.9 million shares.

* PPC : Pha Lai Thermal Power Joint Stock Company announced that it will spend more than 601 billion VND to pay the second dividend in 2023 at a rate of 18.75%. The last registration date is January 22, 2024, the expected payment date is June 28, 2024.

* MH3: Binh Long Rubber Industrial Park JSC announced that it will soon pay VND 16.8 billion to advance cash dividends for the first period of 2023 at a rate of 7%. Last registration date is January 30, 2024, payment date is April 10, 2024.

* CLC: Cat Loi JSC announces the closing of the right to pay the first cash dividend of 2023 at a rate of 15%. The ex-right date is January 29, 2023, the expected implementation date is February 28, 2024.

* CII: Mr. Nguyen Van Thanh, Deputy General Director of Ho Chi Minh City Infrastructure Investment Joint Stock Company, registered to sell 100,000 CII shares by order matching method. The transaction is expected to take place from January 12 to February 7.

VN-Index

At the end of the trading session on January 9, VN-Index decreased by 1.6 points (-0.14%) to 1,158.59 points, HNX-Index decreased by 0.83 points (-0.35%) to 232.5 points, UpCOM-Index decreased by 0.06 points (-0.07%), to 87.72 points.

According to SHS Securities Company, the positive movement trend of VN-Index is still maintained after surpassing the resistance zone of 1,150 points. However, there is a possibility that the market will fluctuate and adjust to retest this support level.

In the medium term, the market is still forming a balanced area to accumulate again with fluctuations in a gradually tighter range, we can expect a higher accumulation zone of 1,150-1,250 points.

Yuanta Vietnam Securities Company believes that the market may soon return to the uptrend and the VN-Index may increase to the resistance level of 1,165 points. At the same time, the correction phase may quickly end and the market may soon return to the uptrend, heading towards 1,185 points in the next few sessions.

The wife and brother of the Chairman of Hai Phat Invest Joint Stock Company have just been fined a total of more than 700 million VND for illegally selling millions of HPX shares.