reports
Binh Minh Plastics JSC: 1 director
A director at Binh Minh Plastics JSC sold 10,009 shares at 0.000VND and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years c...
- Son Tran
Analyst Pin-board BMP – More Pricing Pressures in 2H but Margin Could ...
· Selling volume declined -12% YoY in 1H2022, caused by the slow construction activities and public investment disbursement. Consumption in 2H could be stable as in 1H. · The stronger rises in selling prices compared to input prices has widened profit margin in 1H. · PVC resin price has started to fall quickly since mid-June. Therefore, from Q3, it is highly possible that selling prices will be adjusted down to stimulate demand and maintain competitiveness. · ...
- Tu Pham
Binh Minh Plastics: Clear recovery signs
The company has seen demand recover strongly after easing of social distancing measure in Vietnam. BMP's sales volume increased from roughly 10,500tons in Q3 21 to reach 25,920tons in Q4 21. The company raised the average selling price by roughly 11% qoq to VND55.9mn per ton of product, boosting the gross margin to 20% in Q4 21 from only 4% in Q3 21. PVC resin prices are fluctuating at a range of 1,400-1,450 US$/ton, after reaching a peak of US$1,950/ton in October 2021. Although the recent...
- Trinh Nguyen
Binh Minh Plastics: Still attractive due to its stable core operations
We recommended Accumulate on BMP in May and raise the target price to VND52,800/share in H2 20. However that upside is no longer actionable because BMP’s share price has increased 25% since the last recommendation date (21 May, 2020). Nevertheless, BMP remains one of our top picks and we believe that investors can still consider accumulating the stock when the market price returns to a more attractive level because of the company's stable core operations and the abundant cash dividend potenti....
- Trinh Nguyen
Binh Minh Plastics: AGM update – Focus on stability
BMP is in our conviction list under a Neutral recommendation, with a target price of VND48,200 per share plus VND5,000 per share cash dividend expected in the next twelve months. In our recent result update, we emphasised that Binh Minh Plastic JSC is a solid business. As an industry leader in a market that favours reputable brand names, BMP has shown no impact from Covid-19 in terms of sales. In contrast, it took advantage of the weather conditions to boost sales and became less dependent o...
- Trinh Nguyen
Binh Minh Plastics: A rare cash cow
In this update, we highlight Binh Minh Plastic as a solid business. As an industry leader in a market that favours reputable brand names, BMP has shown no impact from Covid-19 in terms of sales. In contrast, it took advantage of the weather conditions to boost sales and became less dependent on the housing market. Over the last quarters, BMP managed to stabilise both gross and net margins, which we think is going to lead to a strong trajectory for net income in the long term. Threats from new...
BMP - Facing up to Challenge of Rising Input Price
BMP is a state-linked plastic pipe producer whose long-standing brand is widely recognized. Despite being a leading producer in a profitable industry, BMP recently faces up with fierce competition from new entrants that execute aggressive trade discounts. Additionally, plastic pipe producers including BMP are experiencing deterioration in their profitability due to the recent recovery of plastic resin price, which is correlated to the oil price. Assuming the current situation prolongs, we expect...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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