The second-quarter earnings season has come to a close, and businesses are releasing their semi-annual audited financial statements. A slew of six-month losses has been revealed in these reports, leading to several stocks being placed on the stock exchanges’ ineligible-for-margin-trading lists.
As of August 30, 2024, the Ho Chi Minh Stock Exchange (HOSE) has added several stocks to its margin-cutting list due to losses incurred in the first half of 2024. These include FCM of FECON Mineral Joint Stock Company, HAS of HACISCO Joint Stock Company, PGV of Power Generation Corporation 3, QCG of Quoc Cuong Gia Lai Joint Stock Company, SGR of Saigon Real Estate Corporation, and TMT of TMT Motor Joint Stock Company.
Notably, QCG of Quoc Cuong Gia Lai Joint Stock Company released its semi-annual audited financial statement, revealing a 69% decline in revenue to just over VND 65 billion. The company posted a loss of nearly VND 17 billion, with the parent company losing more than VND 15 billion.
TMT Motor, known for producing, assembling, and distributing the Wuling Hongguang MiniEV electric car in Vietnam, saw a 14% decline in revenue to VND 1,322 billion in the first half of 2024 compared to the previous year. The company posted a loss of nearly VND 100 billion, wiping out years of accumulated profits, and as of June 30, 2024, accumulated a loss of VND 46 billion. TMT Motor attributed this to economic hardships and consumers tightening their spending, which led to a significant decrease in car sales despite continuous price reductions.
Prior to this, HoSE added TLH of Tien Len Steel Group Joint Stock Company, EVE of Everpia Joint Stock Company, and STK of Century Yarn Joint Stock Company to the margin-cutting list due to negative parent company net income in the 2024 semi-annual audited financial statements.
Consequently, the list of securities ineligible for margin trading on HoSE now stands at 95. Reasons for being cut off from margin trading include stocks under warning/control/restricted trading; negative net income with audited reports containing opinions from auditing firms; less than six months of listing… Popular stocks like FRT, HNG, ITA, HBC, HAG, ITA, HVN, LDG, and TDH remain on the list.
Choose stocks for “Tet” festival celebrations
Investors should consider choosing stocks in the banking industry with good profitability, healthy real estate, and abundant clean land reserves. In addition, the group of stocks in infrastructure investment, iron and steel, and construction materials should also be considered.
Significant losses due to theft of equipment and supplies on the Phan Thiet – Dau Giay expressway
On February 1st, the Thang Long Project Management Board (representing the investor of the Phan Thiet – Dau Giay Expressway) announced that they have sent a letter to the provinces of Dong Nai and Binh Thuan regarding the issue of individuals unauthorizedly cutting open barbed wire fences and stealing construction materials on the Phan Thiet – Dau Giay Expressway.
Stock Market Surges as Funds Pour In at the Start of the Year
In January 2024, the VN-Index surged more than 3%, reaching 1,164 points. Money poured into the market, boosting stock trading with a 4.6% increase in liquidity, averaging 16,531 billion Vietnamese dong. Notably, foreign investors returned as net buyers with a net buying value of 1,304 billion Vietnamese dong.
