The Dragon Capital Group has recently announced the sale of 1 million shares of DXG Joint-Stock Company (code: DXG) during the July 8 trading session. Norges Bank sold 200,000 shares, while Wareham Group Limited offloaded 800,000 shares. As a result, the group’s ownership in DXG decreased from 11.02% to 10.88%.
In a similar vein, DXG’s Vice President, Ms. Do Thi Thai, sold nearly 147,000 DXG shares between June 10 and July 8.
This sale by the Dragon Capital Group comes not long after Mr. Luong Tri Thin stepped down as Chairman of the Board on July 3, 2024, with Mr. Luong Ngoc Huy taking on the role.
Mr. Luong Tri Thin has assumed the position of Chairman of the Strategic Council, which plays a crucial role in formulating and implementing strategies for the Board of Directors and the Management Board on investment, business, and important decision-making matters.
According to DXG’s representative, Mr. Luong Tri Thin remains a member of the Board of Directors and the company’s largest shareholder. In the next phase, to realize the sustainable development goals of DXG, Mr. Luong Tri Thin will focus more on the strategic planning of the Group as well as building a unique corporate culture and philosophy for the DXG system.
On the stock exchange, DXG shares are currently in a correction phase, approaching a one-year low. The current trading price of DXG is at VND 14,700 per share, representing a nearly 25% decline compared to the beginning of the year.
Regarding the 2024 business plan, DXG aims to achieve VND 3,900 billion in net revenue and VND 226 billion in after-tax profit attributable to the parent company’s shareholders, an increase of 5% and 31%, respectively, compared to the previous year. In the first quarter, DXG recorded VND 1,065 billion in net revenue and over VND 31 billion in after-tax profit attributable to the parent company’s shareholders. Thus, the company has achieved 27% of its revenue target and nearly 14% of its profit target.
