Vingroup dissolves subsidiary related to artificial intelligence

Accordingly, Vingroup dissolved Vantix Technology Solutions and Services JSC to restructure the operations of companies in the group.

Vantix Company is headquartered in Vinhomes Riverside urban area, Long Bien district, Hanoi. The company was established in February 2019 and is legally represented by Ms. Nguyen Mai Hoa.

Vingroup Corporation owns 100% of capital at Vantix. Vantix's main business is information technology services and other computer-related services.

Vic stock.png — *VIC shares closed on October 6.*

Specifically, Vantix deploys specialized technology in the field of artificial intelligence/machine learning/data. Not only that, Vantix focuses on deploying ideas and technology solutions for businesses.

On May 19, 2020, Vantix announced the VinHR solution, capable of increasing 25% of general labor productivity, providing solutions to optimize labor productivity through personal IoT devices and AI.

VinHR uses a unique deep learning model to train and automatically confirm employee movements through technology solutions, including: smart wearable devices, artificial intelligence infrastructure, business management and optimization software. The smart measurement system will provide detailed labor performance to managers and business owners.

At the same time, VinHR collects employee operational data via the vBand smart wearable device. When employees work, data will be continuously sent to the processing center. With the ability to receive billions of signals every day, Vantix's cloud system ensures accurate measurement of each employee's work results, supporting managers in detecting operational shortcomings.

At the end of the trading session on October 6, VIC shares reached 45,950 VND/share.

Business News

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

* SBT: Thanh Thanh Cong - Bien Hoa Joint Stock Company plans to hold the 2023 Annual General Meeting of Shareholders on October 26 in Tay Ninh province, to approve important contents such as the new fiscal year business plan, profit distribution plan, ESOP share issuance...

* NED : Tay Bac Power Investment and Development Joint Stock Company said it has received a decision from the Son La Provincial Tax Department on administrative penalties for tax violations.

* CHC: Cam Ha Joint Stock Company announced that the Company's customer, Noble House Home Furniture LLC (accounting for about 50% of Cam Ha's total revenue), has officially filed for bankruptcy under Chapter 11 with the US court in Houston, Texas.

*MGG: Duc Giang Corporation announced the right to pay cash dividends. The ex-dividend date is October 11. The implementation rate is 25%, shareholders owning 1 share will receive 2,500 VND. With nearly 9 million shares in circulation, it is estimated that MGG needs to spend nearly 22.5 billion VND for this dividend payment. The expected implementation date is October 20.

* LSS: Lam Son Sugar Joint Stock Company announced documents for the 2023 Annual General Meeting of Shareholders, scheduled to be held on October 25 in Thanh Hoa province. LSS will submit to shareholders for approval the new fiscal year business plan as well as the profit distribution plan.

Transaction information

* PPE: Due to personal needs, Ms. Nguyen Thi Hai Minh, Chairwoman of the Board of Directors of PP Enterprise Investment Consulting JSC, wants to divest all 436,300 shares. The transaction is expected to take place from October 10 to November 8.

* CSI : Kirin Capital Investment and Development JSC has just become a major shareholder of Vietnam Construction Securities JSC after acquiring an additional 18,300 shares, increasing its ownership ratio from 4.92% to 5.03%, equivalent to nearly 845,000 shares. The transaction took place on September 29.

* APS: The Board of Directors of Asia Pacific Securities Corporation has just approved the decision to invest in shares of COTANA Group Corporation (CSC) with a maximum total limit of 64 billion VND.

* ITA: Tan Tao University JSC registered to buy an additional 10 million shares of Tan Tao Investment and Industry JSC from October 9 to November 7. The seller is said to be Media Ban Mai Media - Entertainment and Production JSC.

VN-Index

At the end of the trading session on October 6, VN-Index increased by 14.65 points (+1.32%) to 1,128.54 points, HNX-Index increased by 2.45 points (+1.07%) to 230.45 points, UpCOM-Index increased by 0.41 points (+0.47%) to 87.20 points.

According to KIS Vietnam Securities, after 3 weeks of adjustment, many stocks have returned to attractive price ranges and this has triggered the bottom-fishing cash flow of some investors. In addition, some groups of stocks also received some supporting information to promote the market's recovery in the last session of the week.

Although the recovery momentum appeared when bottom-fishing demand increased around the 1,100-point area, the bottoming signal may not be really convincing.

Agriseco Securities commented that the strong recovery of the market at the end of the week was more technical than fundamental. After many sessions of large-amplitude decline, when supply shows signs of drying up, the market is likely to see recovery sessions with low liquidity at the end of the week.

Experts predict that the next market trend will continue to accumulate with large amplitude increases and decreases but with low liquidity.

There is a possibility of another decline of about 2-3%, breaking the 1,100 point mark before the market officially goes up, and the increase will depend on factors affecting the fourth quarter.

VinFast 85 billion USD, Vingroup shares 'explode', carry the stock market Billionaire Pham Nhat Vuong's Vingroup shares increased dramatically after VinFast was successfully listed on the US Nasdaq stock exchange with a valuation of up to 85 billion USD.

Source