DIC Corp (DIG) Stock price just increased, chairman's wife sold shares

Since the second half of October 2023, DIC Corp's stock code DIG has increased by 40.7%. In response to this development, the Chairman's wife has registered to sell a large amount of shares.

Specifically, Ms. Le Thi Ha Thanh, wife of Mr. Nguyen Thien Tuan, Chairman of the Board of Directors of DIC Corp, has registered to sell 200,000 DIG shares. The transaction period is from December 11, 2023 to January 9, 2024.

DIC Corp. has just announced that it will be selling a large amount of shares to the public. — DIC Corp (DIG) shares just increased sharply, the chairman's wife immediately registered to sell a large amount of shares (Photo TL)

However, by the end of the trading period, Ms. Le Thi Ha Thanh had only sold 25,300 shares, equivalent to 12.65% of the initial registered ratio. After the transaction, the number of shares Ms. Thanh held decreased from 976,202 to 950,902 shares, equivalent to 0.156% of the charter capital.

The reason for not buying all the shares given by the chairman's wife was that the stock price movements were not suitable.

In terms of business activities, DIC Corp continuously recorded a decline due to the impact of the sluggish real estate market. Revenue in the third quarter of 2023 reached VND 235.2 billion, down 44.5% year-on-year. Gross profit reached VND 66.9 billion, down 41% year-on-year. The corresponding gross profit margin remained at 28.4%.

Financial revenue in the third quarter reached VND10.8 billion, down 27.6%. Financial expenses also decreased by two-thirds, down to VND11.6 billion. Sales expenses and administrative expenses both decreased, recorded at VND46.6 billion.

After deducting all expenses, DIC Corp's after-tax profit was 12.1 billion VND. It should be noted that the company escaped losses partly thanks to a sharp reduction in payable expenses. Meanwhile, its main business activities are still being affected by the sluggish real estate market.

In the first 9 months of the year, DIC Corp achieved cumulative revenue of 593.7 billion VND, down 60.9% over the same period. Profit after tax decreased by 31%, down to only 97.7 billion VND. Compared to the business target set at the beginning of the year, DIC Corp has only completed 10% of the annual profit plan.

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