Stock Surges 200% Just Two Weeks After Listing

Closing the session on November 14th, the stock BQP of Binh Thuan High-Quality Plastics JSC dropped nearly 2%, falling to 31,200 VND per share. Notably, BQP stock officially began trading on UPCoM from November 5th. After 8 trading sessions, the stock experienced a consecutive streak of 7 dramatic ceiling increases, and this marks the first recorded decline.

However, BQP’s market price still reflects a 212% increase compared to its listing price just under two weeks ago.

BQP stock debuted with a reference price of 10,000 VND per share and a fluctuation range of 40%. On its first trading day on UPCoM, the stock hit the maximum allowed increase, reaching 14,000 VND per share, though liquidity was minimal with only 1,200 units traded.

In response to the stock’s sharp rise, BQP issued an explanatory statement, noting that the stock had only been trading on UPCoM since November 5, 2025. The price fluctuations in recent sessions were primarily attributed to natural supply and demand dynamics in the stock market, with the company taking no actions to influence the stock’s trading value.

The company also confirmed that its production and business operations remain stable and in line with the 2025 plan, with no internal information or unusual events impacting price movements.

Established in 2019 at the Dong Van IV Industrial Zone (Ninh Binh), BQP primarily operates in the production of plastic products. From an initial charter capital of 21 billion VND, Binh Thuan High-Quality Plastics JSC has increased its charter capital to 150 billion VND through multiple capital raises.

In terms of shareholder structure, major shareholders holding over 5% of BQP’s capital include: Binh Thuan Plastics Group JSC with 7,968,400 shares (53.12%), BPG Invest JSC with 3,000,000 shares (20%), and other shareholders.

BQP operates a plastic production plant at lot CN-03, Dong Van IV Industrial Zone, with a total investment of over 229 billion VND on a 15,059 m² area. The plant began operations in 2020 with a capacity of 5 million products per year, increasing to 29 million products per year by 2024.

Customers of Binh Thuan High-Quality Plastics’ industrial plastic products include exporters in sectors such as textiles, packaging, food, pharmaceuticals, electronics, rubber, petrochemicals, and logistics.

Additionally, the company supplies plastic products for logistics to partners like Coca Cola, Pepsi, Vinamilk, Masan Consumer Corporation, C.P. Vietnam Livestock Corporation, and Dabaco Group.

Binh Thuan High-Quality Plastics JSC is also a subcontractor for high-grade plastic components used in various global products and brands in Japan, South Korea, China, Europe, and the United States, including SMC and Fuji.

Regarding business performance, according to the Q2 2025 financial report (July 1 – September 30), BQP recorded revenue of over 345 billion VND and post-tax profit of nearly 9 billion VND, up 31% and 37% year-on-year, respectively. For the first two quarters of the fiscal year, revenue increased by 15% to nearly 623 billion VND, while post-tax profit reached approximately 16 billion VND, a 23% increase.