HCMC – 911 Group JSC, whose NO1 shares are listed on the Hochiminh Stock Exchange, inked a deal with Vinfast Commercial and Services Trading Company on October 21 to expand into the electric taxi service sector.
The company aims to add more than 2,200 electric vehicles to its fleet by the end of 2025. The VND45-billion contract covers the purchase of electric cars and battery leasing services. This is part of the company’s plan to expand into new business areas beyond its current focus on construction equipment and services.
The transaction is expected to be completed in the fourth quarter of 2024. The company has yet to disclose whether these vehicles will be used for business operations or internal purposes.
As of September 30, the company had total assets of VND467 billion, with the new electric vehicle investment accounting for almost 10% of its assets. The firm currently holds VND54 billion in cash, sufficient to complete the deal.
911 Group JSC is a construction equipment supplier. It is diversifying into new sectors to boost its revenue streams. The company plans to present the expansion strategy at an extraordinary shareholder meeting on October 28, where it will seek approval for additional business lines.
The company provides various construction equipment and has export contracts, including a VND200-billion order for machinery to Laos and a VND750-billion order for excavators to Vingroup.
The company’s revenue in the first nine months of 2024 reached VND660 billion, surging 64.9% year-on-year, with after-tax profit of VND18 billion.
Closing the trading session today, October 22, NO1 moved sideways with a slight increase of 0.2% to VND9,820 per share, with a matching volume of 229,800 shares.
With 107 winners and 269 losers, the VN-Index slid by 9.88 points, or 0.77%, to 1,269.89 points.
Trading volume and value improved 27% and 33% over the previous session, with over 793.9 million shares worth VND19.09 trillion changing hands. Block deals accounted for over 65.4 million shares worth VND1.55 trillion.
In the VN30 basket, which groups the 30 largest-cap stocks, only HDB, TCB, PLX, MWG and VHM managed slight gains, ranging from 0.2% to 0.9%, while SSB and VNM stayed flat. The rest of the group declined.
GVR dropped the steepest, plunging 4.1% at the close to VND33,750 per share. POW, BCM, VIB and VRE also lost between 2% and 2.6%, while other tickers like CTG, ACB, MSN, FPT and BID extended their losses, down by around 1.5%.
Stock trade in bank stocks remained robust, with VPB, VIB, and TPB leading the charge, trading from 22.3 million to over 31 million shares. Other lenders posted trading volumes between 12 million shares and 20 million shares.
EIB continued to perform well as it bucked the trend, advancing 3.85% to VND21,600 and posting a trading volume of over 29 million shares, second only to TPB.
With over 31 million shares changing hands, TPB was the most actively traded stock on the southern market, but it dipped 1.14% to VND17,300 per share.
Mid- and small-cap stocks continued to show resilience, with SMC hitting the ceiling price to VND7,530, and QCG rising 5.2% to VND11,050.
On the Hanoi Stock Exchange, the HNX-Index decreased 1.92 points, or 0.85%, to 487.21 points, with 61 advancers and 93 decliners. Trading volume on the northern exchange reached over 52.8 million shares valued at a total of VND992.1 billion.
