Wednesday, 30 January 2019 to 19:00 (GMT + 7)
Vinh Hoan Joint Stock Company (VHC) holds Ms. Truong Thi Le Khanh, Chairman of the Board of Directors, after taxation in the fourth quarter of 2017 to 416 billion dong, 20 times more than the Company's profit after tax. CP Hung Vuong (HVG) – for some time "king of pangasius" because Mr. Duong Ngoc Minh is chairman of the board of directors.
"The Fish of the Queen" Truong Thi Le Khanh left the "ex-king" of Duong Ngoc Minh
In the first quarter of 201-2019, Hung Vuong Joint Stock Company (HVG) – King Pangasius during Mr. Duong Ngoc Minh as Chairman of the Board of Directors, admitted 155 billion dong gains before taxation in the context of revenue. evaporates "50%, up to 1.345 billion VND.
Mr. Duong Ngoc Minh is President of Hung Vuong Joint Stock Company. (Photo: Internet)
In that period, Hung Vuong also had no sales revenue, so the financial income fell by 99%, just over 2 billion dong. Although interest expense decreased by 59%, companies still have to pay a RSD 49 billion interest expense in the accounting period. In addition, joint venture profits also fell sharply by 93% to nearly 2 billion dong.
However, due to a sharp reduction in the sales and management costs of Hung Vuong, 25% and 48%, despite the loss of more than 3 billion VND, the company still earns 22 billion VND profits before tax, an increase of 207% compared to the previous year. period.
In the period from 2018 to 2019, Hung Vuong from Mr. Duong Ngoc Minha proposed revenue after a bill of 255 billion dong, of which 75 billion dong from fisheries and aqua feed would bring 180 billion dong. After the first quarter, Hung Vuong achieved only 7% of the target set in the year.
"The Queen of the Fish" Truong Thi Le Khanh. (Photo: Internet)
According to the calculations, the profitable amount of Hung Vuong – "King Pangasius" for a moment is equal to 1/20 of Vinh Hoan's "Tra Fish Queen" (VHC) held by Mrs. Truong Thi Le Khanh. President of the Committee.
Vinh Hoan Consolidated Financial Statements in the fourth quarter of 2010 showed that the company's net income increased by 27% over the same period, reaching RSD 2.754 billion. Gross profit rose 62% to almost 573 billion.
In addition, in the fourth quarter of 2017, Vinh Hoan recorded profits of $ 17 billion in a joint venture, and VND 33 billion in revenue from financial activities. At the same time, sales costs decreased by 23% to RSD 55.2 billion, while management costs slightly increased compared to the same period of 2017.
As a result, Vinh Hoan achieved a net profit of 416 billion Swiss francs in the fourth quarter of 2008, an increase of 113% over the same period. In 2018, net income from Vinh Hoan increased by 14% to $ 9,323 billion. Profit after the taxation of the company reached 1.452 billion dinars, which is 140% more. At the same time, 2.3 times the plan.
On the stock market of VHC shares in 2018, it even reached more than 110,000 VND per share before it fell in the correction period and is currently traded at a price of over 90,000 VND / shares that aid Truong Thi Le Khanh's assets are over RSD 3.600 billion.
Meanwhile, the trading value of HVG shares continued to decline, sometimes traded at a price below VND5,000 per share, which seemed to Mr Duong Ngoc Minhu just over 422 billion yuan.
Hope is high thanks to pangasius
According to IR's Vinh Hoan AD report in December, the value of exports in December this year was $ 39 million, a record 76% increase over the same period last year. Production and sales prices also increased by 28% and 37% respectively.
The total value of exports in 2018 was USD 378 million, which is 26% more than in the previous year. While annual production declined slightly, the average sales price continued to grow by 33% over the same period last year due to rising raw material prices.
The product structure of Vinh Hoan has not changed significantly compared to 2017, and Pangasius filet still accounts for the bulk of the total value of exports, up by 34% over the previous year. Collagen and gelatin have an impressive growth of 11.2 million, twice as much as 2017.
In particular, the US continues to be the main export market of Vinh Hoan in 2018 with 64%, China ranked second with 18%. Especially for the American market, Vinh Hoan and Vien Dong share together account for more than 92%, while the market share of Hung Vuonga is around 4%, while the remaining 4% are the remaining companies.
Product Structure of Vinh Hoan
According to VASEP data, in the year 2018, exports from Vietnam to seafood totaled nearly USD 9 billion, which is 8.4% more than in the previous year. Namely, Pangasius exports recorded a record level of 20 years when it reached USD 2.3 billion, an increase of 27%. Pangasius development will continue in 2019 with an expectation of 3 million tonnes of fish, an increase of 4.6% over 2018.
In Vietnam, Pangasius farms reached 5,400 ha in 2018, a slight increase of 3.3% compared to 2017. The yield of harvest was 1.42 million tons, an increase of 8.4%.
Structure of the Vinh Hoan Export Market
At present, the US is the first export market for Pangasius with 549 million USD, which is 60% more. China – Hong Kong occupies second place in the total value of exports by USD 529 billion, representing 23% of total export value for Vietnam in 2018, and 29% more than in the previous year. After the period of declining production and exports, the European market began to show signs of recovery, and export value reached USD 244 million, 20% more than in the previous year.
With free trade agreements to be signed, such as CPTPP and EVFTA, the imported pangasius tax from Vietnam on many markets will quickly decrease to 0%, creating a better chance of exporting pangasius.