Viet Dragon Securities - There is a diversification in 2023 business targets of Vietnamese tire producers

Report

Viet Dragon Securities

An Nguyen

There is a diversification in 2023 business targets of Vietnamese tire producers

From the documents of the 2023 Annual General Meeting of Shareholders of Vietnamese tire producers, we see a diversified picture in business targets. Although tire consumption in both the domestic and export markets is forecasted to be weak in 2023, we see that companies keep investing on production activities.
We suppose that there is a two-sided effect on gross margin of Vietnamese tire producers in 2023, including positive and negative. On the positive side, raw material costs are predicted to decrease in 2023. On the the negative side, we see a signal of decreasing selling prices, resulting in a risk of lower gross margin.
In the context of decreasing logistic costs since the beginning of 2023, we suppose that this is a positive contributor for the bottom-line of Vietnamese tire producers. However, we suppose that the positive effect would not be strong because it accounts for a small proportion of total costs.

28/04/2023 7 EN

Provider

Viet Dragon Securities

Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.

RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”

See profile

Analysts

An Nguyen

Other Reports from Viet Dragon Securities

Dung Ma ... (+2)

Dung Ma
Hung Le

AWAITING THE BREAKOUT

Looking ahead to October, the 3Q2014 earnings season is expected to be lively in the last two weeks of the month, acting as a positive catalyst for the market. The banking sector is expected to remain the key growth driver alongside a recovery in the manufacturing and retail sectors, contributing to the VN Index's estimated NPAT growth of ~28% y/y. Growth drivers for the banking sector include (1) a slight increase in NIM in Q3 compared to the previous quarter as asset quality improves, (2) credit costs no longer weigh heavily on profits, and (3) loan growth among banks on the watch list (acco...

7h / 18m 7h / 18m 33 EN

Hung Nguyen

Hung Nguyen

Vietnam chilled-fresh meat market – Significant long-term potential but difficult to realize in

• Euromonitor predicts that growth in the meat market will slow down to a CAGR of 4.1% over the period 2024-28, as rising consumption of new types of meat such as beef and goat will not be enough to offset saturation in consumption of pork and poultry, the main products consumed in Vietnam. • Although overall market growth may be limited, the potential for a shift in consumer preferences from hot-fresh to chilled-fresh meat in Vietnam continues to attract major brands. However, the market still faces obstacles, including long-standing consumer habits of buying hot-fresh meat in traditional ma...

October 4, 2024 October 4, 2024 7 EN

Phuong Nguyen

Phuong Nguyen

The decline has not come to a halt

• It is expected that the 1,260–1,270 range, where the MA(20), MA(50), MA(100), and MA(150) converge, will help to slow down the market’s decline. • The market may see fluctuations in the near term to gauge supply and demand.

October 4, 2024 October 4, 2024 7 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

There is a diversification in 2023 business targets of Vietnamese tire producers

AWAITING THE BREAKOUT

Vietnam chilled-fresh meat market – Significant long-term potential but difficult to realize in

The decline has not come to a halt

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe