According to a report by VIX, the company purchased nearly 10.9 million PC1 shares on August 30, 2024, increasing its holdings from over 6.4 million shares (2.07%) to 17.3 million shares (5.56%).
On August 30, PC1 shares witnessed a trading agreement with a volume matching the number of shares VIX bought, valued at nearly VND 309.4 billion, averaging VND 28,500 per share.
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Trading agreement of PC1 shares on August 30, 2024
Source: VietstockFinance
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VIX’s purchase took place not long after a major shareholder of PC1 registered to sell all his holdings. Specifically, major shareholder Phan Ngoc Hieu registered to sell nearly 15.6 million PC1 shares (5%) from August 30 to September 27, 2024, to restructure his investment portfolio. Mr. Hieu is also a member of the Board of Directors of PC1.
Apart from VIX’s announced purchase and Mr. Hieu’s divestment plan, there was only one notification of a transaction involving the sale of 250,000 PC1 shares by Ms. Nguyen Thi Dung, the wife of Mr. Vu Hong Quang, a member of the Board of Directors and Vice President of PC1. Hence, it is likely that the aforementioned 10.9 million PC1 shares were transferred between Mr. Hieu and VIX.
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Recent registered transactions of PC1 shares
Source: VietstockFinance
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In late January 2024, against the backdrop of the largest group of shareholders of PC1, namely CTCP BEHS and its subsidiary companies, divesting their entire holdings of over 73.4 million PC1 shares (23.6%), Mr. Phan Ngoc Hieu purchased an additional 410,000 shares on January 30, 2024, increasing his ownership from 4.87% to 5%, equivalent to nearly 15.6 million shares, officially becoming a major shareholder of PC1.
At the 2024 Annual General Meeting of Shareholders held in April 2024, as a major shareholder, Mr. Phan Ngoc Hieu was elected to the Board of Directors for the term 2020-2025, replacing Mr. Mai Luong Viet who had submitted his resignation.
Prior to becoming a major shareholder of PC1, VIX faced challenges in the first six months of 2024, earning a net profit of just over VND 285.7 billion, halving from the same period last year.
VIX attributed this decline to the volatility in the stock market during this period, which led to a near 37% drop in profits from FVTPL assets compared to the previous year. Additionally, a 56% surge in total expenses also contributed to the decrease in profits.
Source: Reviewed Semi-annual Financial Statements for the first half of 2024 of VIX
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| VIX’s net profit for the first six months of 2024 was only half of the previous year’s figure |
On the other hand, PC1 concluded the first half of 2024 with impressive performance, attaining nearly VND 5,256 billion in net revenue, marking a 77% year-over-year increase. Furthermore, the company earned over VND 40 billion in profits from its joint venture and associate (a 17.7-fold rise compared to the previous year) and reduced its losses by more than VND 8 billion from other operations. As a result, net profit reached nearly VND 143 billion, representing a 69.1-fold increase from the same period last year.
In relation to its full-year targets, PC1 accomplished 49% of its revenue goal and 39% of its profit plan in the first six months.
| PC1 witnessed robust business performance in the first half of 2024 |
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