An Phat Holdings Joint Stock Company (APH stock code) has just announced notable transactions by its Chairman of the Board, Pham Anh Duong. Mr. Duong has registered to sell all of his 11.87 million APH shares, equivalent to 4.87% of An Phat Holdings’ capital, in order to “restructure his investment portfolio.” The transaction is expected to be executed through matching or negotiated deals from August 27 to September 25, 2024.
If the above transaction is successful, Mr. Pham Anh Duong will no longer hold any APH shares. On the stock exchange, APH shares plummeted with a massive volume of more than 10 million shares. Based on this price, the Chairman of An Phat Holdings is estimated to pocket around VND 90.9 billion.
Several other executives of the Company also intend to sell large quantities of shares. Specifically, Mr. Pham Do Huy Cuong, Member of the Board of Directors and General Director, registered to sell 750,000 shares (out of a total of 1.875 million APH shares owned); Ms. Tran Thi Thoan, Vice President in charge of production, will sell all 500,000 shares she holds; and Ms. Nguyen Thi Tien, Vice Chairman of the Board and Vice General Director, registered to sell 750,000 shares (out of a total of 875,000 shares owned). The trading period is from August 23 to September 20, 2024, through matching or negotiated deals, with the purpose of restructuring their investment portfolios.
Notably, the transactions of the leadership team occur as An Phat Holdings prepares for an extraordinary general meeting in 2024. The Group plans to present to shareholders the proposal to change the business lines, amend and supplement the charter, and other content in the upcoming meeting. The Company will announce the detailed content in the coming days.
Figure: APH Stock Trading on August 23, 2024
Regarding Mr. Duong, he started working at An Phat Holdings in 2002 as the Director of Anh Hai Duy Limited Company (now known as An Phat Xanh Plastic Joint Stock Company, a subsidiary of An Phat Holdings). In March 2017, he was officially appointed as the Chairman of the Board of An Phat Holdings.
In terms of business performance, in the second quarter of 2024, An Phat Holdings recorded net revenue of VND 3,252 billion, unchanged from the same period last year. However, thanks to a significant decrease in cost of goods sold, gross profit for the period increased by 54%, reaching VND 458 billion.
Meanwhile, revenue from financial activities also increased by 45% to VND 102 billion. As a result, An Phat Holdings reported a net profit of VND 109 billion, 11.5 times higher than in the second quarter of 2023. However, this figure was significantly lower than the VND 133 billion recorded in the first quarter of 2024, mainly due to the Company’s product restructuring.
For the first six months of the year, An Phat Holdings’ net revenue reached VND 6,640 billion, a 10% decrease compared to the same period last year. Net profit increased by 438%, to VND 242 billion.
This year, An Phat Holdings targets a net profit of VND 314 billion, a 43% increase compared to 2023. Thus, the Company has accomplished 77% of its full-year profit plan.
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Although the fourth quarter saw a reversal in profits, declining revenue resulted in Cen Land’s net profit for the entire year of 2023 only reaching 2.5 billion VND. It is worth mentioning that nearly 60% of the company’s assets consist of receivables from partners, with a total value of approximately 4,100 billion VND.
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Throughout the year 2023, this bank achieved a pre-tax profit of over 928 billion VND, a decrease of 16.2% compared to 2022 and only 73% of the set plan was accomplished.
