This is considered a disappointing quarter for Steel, Chemical and Securities companies, the total of these three groups dragged down the profit growth of the whole market down 13.5 percentage points in Q1\/2023.<\/p>\n\n\n\n
Specifically, the net profit of listed steel companies decreased by 93.3% over the same period. However, this figure has improved significantly compared to the previous 2 quarters of net loss thanks to (1) the recovery of steel selling price and (2) reversal of the provision for devaluation of inventories.<\/p>\n\n\n\n
The Chemicals sector extended its negative trend with net profit dropping by 71.9% y\/y due to a sharp drop in phosphorus and fertilizer prices. Securities companies also recorded a sharp drop in net profit of 96.6% y\/y due to a 63.1% drop in market liquidity in Q1.<\/p>\n\n\n\n On the contrary, during the difficult period, real estate developers “shined” with 28.3% growth in net profit over the same period, mainly thanks to the contribution of VHM (+162.5%) thanks to record bulk wholesale transactions. However, excluding VHM, net profit of real estate developers decreased by 40.4% YoY in Q1\/23.<\/p>\n\n\n\n However, the “champion” in profit growth this quarter was the pharmaceutical industry with an increase of 34.9% over the same period. Thereby, contributing 0.2% to the general market.<\/a><\/p>\n\n\n\n Notably, the tourism and entertainment industry has gradually returned to the right trajectory, recording a positive net profit of more than 200 billion dong for the first time since the Covid-19 epidemic. This result was largely contributed by HVN’s loss of VND103.6 billion in Q1\/23 (compared to a loss of VND2,613 billion in Q1\/22).<\/p>\n\n\n\n \ufeffSmall and mid-cap groups were hit hard<\/strong><\/p>\n\n\n\n In terms of capitalization group, VNDirect assessed that the business results of small and medium-cap enterprises were more heavily affected in Q1\/2023. Total net profit of VN30 enterprises in Q1\/23 decreased by 11.1% over the same period, more positive than that of large-cap group which decreased by 12.4%. Profit of large-cap group dropped more than VN30 mainly due to DPM (- 87.7%), DCM (-84.9%) and VGI (-68.8%).<\/p>\n\n\n\n Profits in Q1\/23 of mid-cap and small-cap group fell sharply by 39.8% y\/y and 38.5% y\/y, respectively, lower than Q4\/22 due to stable exchange rate and lower interest rates.<\/p>\n\n\n\n For VN-30 group, Q1 profit recorded a decrease of 11.1%. In which, 14 enterprises in VN30 had positive net profit growth “named” VRE (+171%), VHM (+162%) and PLX (+155%).<\/p>\n\n\n\n In contrast, in Q1\/23, MWG’s net profit dropped sharply by 98.5% y\/y, reflecting the negative impact of falling consumer demand amid high interest rates and the fact that some financial firms used under investigation.<\/p>\n\n\n\n Although HPG’s Q1\/23 net profit dropped by 95.2% y\/y, HPG still gave a good signal when net profit was positive after 2 previous loss quarters thanks to (1) steel price recovery and (2) refund. provision for devaluation of inventory. Notably, NVL recorded a loss of 337 billion dong in Q1\/23 (Q1\/22: +1,079 billion dong) due to market factors that weakened real estate transfer revenue (-70.6%).\ufeff<\/p>\n\n\n\n Ha Anh\/Market life<\/p>\n","protected":false},"excerpt":{"rendered":" This is considered a disappointing quarter for Steel, Chemical and Securities companies, the [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts\/1766"}],"collection":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/comments?post=1766"}],"version-history":[{"count":1,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts\/1766\/revisions"}],"predecessor-version":[{"id":1767,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts\/1766\/revisions\/1767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/media\/690"}],"wp:attachment":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/media?parent=1766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/categories?post=1766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/tags?post=1766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Overview](\"https:\/\/cafefcdn.com\/203337114487263232\/2023\/5\/14\/anh-chup-man-hinh-2023-05-12-luc-180151-1684070531939-16840705330912021341672.png\" "\\"Overview")
<\/a><\/figure>\n\n\n\n<\/a><\/figure>\n\n\n\n<\/a><\/figure>\n\n\n\n