Big guy Song Da pays dividends, state-owned enterprise earns nearly 450 billion

The 2023 Annual General Meeting of Shareholders of Song Da Corporation (SJG) approved the 2022 profit distribution plan with a cash dividend of 10%.

With nearly 450 million shares in circulation, it is estimated that SJG needs to spend nearly VND450 billion for this dividend payment. The last registration date is December 8, the expected payment date is December 28.

Notably, in the shareholder structure, the State Capital Investment Corporation (SCIC) owns 99.79% of capital. Accordingly, SCIC estimates that it will collect nearly VND449 billion from SJG's 2022 dividends.

SJG Stock.png — *State Capital Investment Corporation received nearly 100% of SJG's dividends.*

At the end of the third quarter of 2023, SJG had a not-so-positive business period. Although net revenue increased by 19%, reaching 1,833 billion VND, of which the contribution from construction activities accounted for 66%, the gross profit margin only reached 468 billion VND, down 12%.

In addition, financial expenses and other expenses increased sharply by 47% and 411% respectively. As a result, SJG's net profit decreased by 15% to VND162 billion.

Accumulated revenue in the first 9 months of 2023 was almost flat, reaching 4,153 billion VND. On the other hand, during the period, SJG no longer had huge financial revenue like the same period last year, so net profit in the first 9 months of the year decreased by 69% to 399 billion VND.

At the end of the trading session on November 22, SJG shares reached 15,200 VND/share, up nearly 9% compared to the beginning of 2023.

Business news

The stock market has a number of other important events of listed companies.

* DVM: On November 21, Vietmec Pharmaceutical Joint Stock Company received a decision from the Ministry of Health to revoke the Certificate of Eligibility for Pharmaceutical Business granted for the field of "export and import of drugs and pharmaceutical ingredients".

* PRT: Development Company Limited, a major shareholder of Binh Duong Production - Import-Export Corporation, sold 1.79 million shares on November 15, reducing its ownership ratio to more than 38.5 million shares, equivalent to 12.85% of capital.

* PET: Mr. Nguyen Duc Minh, Member of the Board of Directors and Deputy General Director of Petrosetco General Services Corporation, registered to buy 2 million shares during the period from November 24 to December 23.

* TTB: On November 21, the State Securities Commission decided to fine Tien Bo Group Corporation for violating the disclosure of false information on total assets and profit after corporate income tax. The total fine is 260 million VND.

* TNG: TNG Investment and Trading Joint Stock Company has just announced its separate financial statements for October 2023 with net revenue reaching VND 568 billion, no increase over the same period; profit after tax reaching VND 18 billion, down 29% over the same period.

* VGP: Vegetable and Fruit Port JSC has just announced the time to pay 2021 cash dividends at a rate of 7%. The last registration date for dividend payment is November 24 and the expected payment date is December 15.

* HSA: Hestia Joint Stock Company has just announced its audited 2022 financial statements, with after-tax profit of VND 723 million, down 98% compared to VND 30 billion in 2021.

* BSC: BIDV Securities Corporation has just announced a plan to sell treasury stocks. BSC plans to sell all treasury stocks it is holding, amounting to 505,660 units (accounting for 0.25% of charter capital) with the purpose of increasing working capital for business operations.

VN-Index

At the end of the trading session on November 22, VN-Index increased by 3.36 points (+0.3%) to 1,113.82 points, HNX-Index increased by 0.69 points (+0.3%) to 230.49 points, UpCOM-Index decreased by 0.18 points (-0.21%) to 86.04 points.

VCBS Securities commented from a technical perspective, considering the daily chart, VN-Index ended the session forming a Spinning top candlestick, showing investors' hesitation in the 1,110 - 1,120 point area.

The MACD indicator has not yet shown any signs of forming the first peak. In addition, the lines showing trend strength such as ADX and DI (+-) are both horizontal and at the average level, showing that the VN-Index will continue to trade within a narrow range in the short term.

Yuanta Securities believes that the market may continue to increase in the next session and the VN-Index may still challenge the 50-session moving average. At the same time, the market is still in a period of strong fluctuations in a positive direction, so the VN-Index may still soon surpass the 50-session moving average, especially the cash flow will mainly concentrate on the group of small and medium-cap stocks.

Additionally, the short-term sentiment indicator continues to rise, suggesting investors remain optimistic about the current market performance.

The shares are likely to be delisted, the chairman quickly sold them all. Due to late submission of financial reports and repeated violations of information disclosure, the real estate company's shares are likely to be delisted. The company's chairman quickly sold all the shares before the trading was suspended.

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