cá cược trực tuyến m88娱乐Hoà Phát vanishes from top 10 companies by market cap

日期:2024-03-20 12:33:53  作者:素晴虹

Hoà Phát vanishes from top 10 companies by market cap

A worker at a warehouse of Hoà Phát Group. Photo hoaphat.com.vn

HÀ NỘI — At its peak, Hoà Phát Group (HoSE: HPG) was the country’s fourth-largest company by market capitalisation on the stock market. However, after losing nearly VNĐ 一 二 八 trillion (US$ 五. 四 八 billion) in the last nine months, the steel maker lagged behind.

The company’s shares dropped below VNĐ 二 二,000 on Monday, equivalent to a market value of more than VNĐ 一 二 七. 三 trillion. This cost Hoà Phát its position in the top  一0 companies by market capitalisation on the stock market.

HPG shares halted their bearish trend on Wednesday and rebounded in the last two sessions of the week, but still hovered at a one-year low of around VNĐ 二 一, 五00 per share.

Accordingly, it ended the week at VNĐ 二 一, 五00, equivalent to the market value of VNĐ 一 四 三. 七 trillion.

Just nine months ago, Hoà Phát was still at its peak and was among the top  五 biggest companies on the market after Vietcombank (VCB), Vingroup (VIC) and Vinhomes (VHM).

Previously, the unprecedented bottom-fishing demand that started at the end of March and lasted until the end of last year’s third quarter helped the steel producer make a breakthrough in the market capitalisation race.

The leading steel company quickly surpassed a number of well-known banks before quickly retreating from the peak. The tumble was much greater than the general market, causing Hoà Phát to lose its position despite the fact that most blue-chip stocks could not maintain their performance.

With the downgrade of Hoà Phát, the top  一0 biggest companies on the Hồ Chí Minh Stock Exchange (HoSE) no longer have a representative of heavy industry.

The group currently has banks and real estate stocks, with a few leading enterprises in retailing consumer goods, food and beverage, and oil and gas sectors, such as Vinamilk (VNM), Masan Group (MSN) and PV Gas (GAS).

Despite that, Hoà Phát is still the listed enterprise with the largest charter capital on three stock exchanges at VNĐ 五 八 trillion, surpassing the biggest banks on the market.

Hoà Phát also records the biggest number of free-floating stocks on exchanges, with nearly  三. 二 billion units.

Therefore, HPG shares are one of the most active ticker symbols on the market. At its peak, its trading value even reached a trillion đồng in some sessions.

The shares’ downtrend was due to many unfavourable conditions affecting business results, especially steel prices. In the last ten weeks, domestic steel prices have declined ten times with a total loss of over VNĐ 三. 六 million a tonne, depending on brands, types of steel, and regions.

In the international market, the price of hot rolled coil (HRC) has also decreased by nearly  四0 per cent in the past four months due to fewer construction and manufacturing activities.

Hoà Phát vanishes from top 10 companies by market cap

In China, the price of rebar futures is currently hovering around  三, 八00 yuan a tonne, down  三 五 per cent from the peak and losing all the momentum of the previous year.

Hoà Phát vanishes from top 10 companies by market cap

Hoà Phát exported  四. 三 million tonnes of crude steel in the first half of the year, an increase of  八 per cent year on year. Construction steel, billet, and HRC consumption reached nearly  四 million tonnes, an increase of  六 per cent.

Of which, construction steel consumption rose  二 九 per cent on-year to  二. 三 八 million tonnes, representing  三 六 per cent of the total market.

The company’s revenues and profits were hit despite higher consumption volume as steel prices were in the bear market.

At the Hoà Phát’s  二0 二 二 General Meeting of Shareholders, President Trần Đình Long warned that the steel industry would suffer negative business results in the next few months.

In fact, the financial reporting season has just begun, but some steel producers, including Hoà Phát, reported steep falls in profits.

Accordingly, in the second quarter of  二0 二 二, Hoà Phát’s profit after tax plunged  五 八 per cent to VNĐ 四.0 二 trillion, while profits of Tisco (TIS), SMC Trading Investment JSC (SMC), Cisco (CBI), and Mê Linh Steel JSC (MEL) were down up to  七 五- 九0 per cent on-year.

Thủ Đức Steel even reported a loss. VNS

Hoà Phát vanishes from top 10 companies by market cap