Shares of Industrial Park Land Tycoon Soared to a 22-Month Peak Before the Extraordinary General Meeting of Shareholders

The corresponding market capitalization increased by nearly 25,000 billion VND after just 1 month, reaching approximately 106,600 billion VND.

In the session on February 16, GVR shares of Vietnam Rubber Industry Group increased to the ceiling to 26,650 VND/share, extending a series of prosperous transactions from the beginning of the year. Liquidity also increased dramatically with matching volume reaching 7.5 million units.

In the past 1 month, this stock has increased nearly 31% to its highest level in the past 22 months. Compared to the bottom price range in early November 2023, GVR shares have increased by more than 60%. The corresponding market capitalization increased by nearly 25,000 billion VND, reaching approximately 106,600 billion VND.

GVR's upward momentum appeared after the information that the company announced the organization of the extraordinary General Meeting of Shareholders in 2024. Specifically, on March 29, GVR will hold the General Meeting of Shareholders in an online form, with the last registration time to register. Exercising the right to participate is February 28. However, up to now, the company has not announced specific content and documents.

Vietnam Rubber Industry Group was established in 2006, operating in 4 main areas (1) Manufacturing and trading rubber latex, 2) Manufacturing and trading rubber products such as tires, (3) ) Wood processing activities, (4) Industrial park development field.

GVR is managing nearly 400 thousand hectares of rubber plantation land both domestically and internationally. Recently, GVR is in the process of restructuring and focusing its development on the industrial park business thanks to the abundant land fund held by the group.

According to the industrial real estate development strategy for the period 2021-2030, GVR plans to establish and expand more than 39 thousand hectares from converting land to rubber trees, including 48 industrial parks (nearly 37.4 thousand hectares). hectares) and 28 industrial clusters (nearly 1,800 hectares). New projects such as expanding Nam Tan Uyen Industrial Park, An Dien, Minh Hung III,... are in the stage of implementing legal procedures for investment.

In 2024, Vietnam Rubber Industry Group sets a revenue target of approximately VND 25,000 billion, an increase of 2.1% compared to 2023. Pre-tax and after-tax profits reach VND 4,104 billion and VND 3,437 billion, respectively. VND, growing 2.2% and 0.9% respectively compared to 2023.

The Group plans to disburse for consolidated development investment VND 7,503 billion, 2.1 times higher than in 2023. In the medium and long-term orientation, GVR continues to focus on investing in industrial park projects in Eastern provinces.

Regarding the parent company's targets, revenue and other income are expected to reach 3,988 billion VND, an increase of 3% compared to the estimated results in 2023. Planned profit after tax is 1,454 billion VND, equivalent to 103.5% of last year. The dividend payment rate in 2024 is 3%, equal to the level implemented last year.

The 2024 investment and development target for the parent company alone is 1,146 billion VND, many times higher than the figure of 13 billion VND implemented last year. GVR said that the amount of VND 1,146 billion will be used to focus mainly on investing in Hiep Thanh industrial park, upgrading and renovating representative offices at 56 Nguyen Du (Hanoi) and 236 Nam Ky Khoi Nghia (Hanoi). Ho Chi Minh City).

According to Mr. Le Thanh Hung, General Director of GVR, in the first quarter of 2024, the Group will promote disbursement and investment in industrial park projects. Regarding the organizational aspect such as establishing the Industrial Park Development Board and Group branch, GVR representatives proposed that the Committee consider and support early approval in January 2024.

KBSV Securities believes that the land allocation of Nam Tan Uyen 3 - Industrial Park located in the key economic region of Binh Duong - at the end of May has created short- and medium-term growth potential for GVR, expected to contribute to GVR's business results from 2024.

KBSV expects NTU 3 can start recording revenue from 2024. According to preliminary estimates of Nam Tan Uyen, the Nam Tan Uyen 3 project will bring in cash flow of more than 600 billion/year and profit after tax of about 400 billion. billion/year to 2027 - 2028 after being put into operation, expected from 2024.

In addition, accelerating plans to expand GVR's industrial park land fund is expected to soon improve the supply shortage due to delayed legal procedures of GVR in particular and the industry in general, creating new supply. continuously, increasing profits from the industrial park segment - the segment with the highest gross margin of GVR.

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