After the transaction, Mr. Thanh reduced his ownership stake in the Company from 23.76% (2.88 million shares) to 12.74% (1.54 million shares).
The trading session on February 2 recorded 1.69 million shares of CTP traded, with a value of nearly VND 7 billion and no off-market transactions. Therefore, it is likely that the Chairman of CTP sold the shares through matching orders, earning nearly VND 5.5 billion from the deal.
| The price movements of CTP shares from the beginning of 2023 to the session on February 15, 2024 |
The Chairman of CTP reduced his capital stake in the Company amid a strong increase in market prices, which led a series of internal shareholders to withdraw their capital in August 2023.
| CTP’s net profit in the past 5 years |
In terms of business results, by the end of 2023, CTP only achieved a net profit of VND 230 million, a decrease of more than 69% compared to the previous year. The Company attributed this decline to unfavorable market conditions and fluctuations in consumer demand, which directly affected its business activities.
Source: VietstockFinance
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In 2023, the Company set a target revenue of VND 150 billion, with an expected after-tax profit of VND 968 million, corresponding to an increase of 27% and 36% compared to 2022. However, CTP only achieved 59% of the revenue target and 24% of the profit target.
Minh Khang Capital Trading Public Joint Stock Company, formerly known as Thang Phu Coffee Joint Stock Company (CTP), was established with an initial charter capital of VND 3 billion in 2010. The Company’s headquarters is located in Huong Hoa District, Quang Tri Province. CTP specializes in the production, processing, trading, and export of coffee products, as well as the trading of agricultural products. The Company’s products are mainly consumed in the domestic market (90%), with about 10% exported to foreign countries.
