HCMC – Vietnamese stationery producer Thien Long Group Corporation (HOSE: TLG) posted after-tax profit of VND448 billion in the first 11 months of 2024, up 24% from a year earlier, the company said in a preliminary business report.
The profit translates to average daily earnings of over VND1.3 billion, exceeding the company’s full-year target by 18%. Revenue during the period rose 6% year-on-year to nearly VND3.5 trillion, achieving 91% of its full-year plan.
Domestic sales accounted for VND2.55 trillion, an increase of 2%, while export revenue grew 21% to VND925 billion. Gross profit margins improved to 44.52% from 43.79% in the same period last year.
Profit after tax in November plunged 64% year-on-year to VND5 billion, the report said. Thien Long attributed the decline to seasonal factors, with business typically peaking in the second and third quarters and slowing in the fourth quarter.
Closing the trading session today, January 6, TLG snapped the streak of six consecutive trading declines with a 3.81% gain to VND65,400, with 586,600 shares changing hands.
The VN-Index dipped 8.24 points, or 0.66%, to 1,246.35 points, with decliners far outnumbering gainers by nearly four to one. On the southern exchange, 82 stocks rose while 318 others declined, including 16 stocks hitting their floor prices.
Trading volume remained steady, with over 565 million shares changing hands, valued at VND13.7 trillion. Block deals contributed VND1.5 trillion.
The VN30-Index, which tracks the 30 largest-cap stocks, dropped 7.54 points, or 0.57%, to 1,313.04 points, with eight advancers and 17 losers. Bank stocks like BID and VCB gained, but losses of MSN, GVR, and MWG weighed on the index.
VTP stole the limelight as it hit a record high on Monday, rising to its daily ceiling price of VND154,200. The stock saw strong demand, with nearly 2.3 million units traded. Foreign investors purchased a net 0.32 million shares.
Over the past three months, VTP’s price has doubled. In the first three trading sessions of 2025, the stock has gained nearly 13%. It is now the third-highest-priced stock on the southern market, behind VCF and FRT.
Bank stocks were among the few bright spots, gaining 0.3% overall. However, many bank stocks, including MBB and ACB, reversed course to end lower.
The securities sector saw broad losses, with VIX falling 2.64% and a high trading volume of 14.3 million shares. Other stocks in the sector, including SSI and VCI, also edged lower.
Steel stocks also declined, with HPG sliding 2% to VND26,050. It was the most actively traded stock with 15.3 million shares traded.
On the Hanoi Stock Exchange, selling pressure intensified. The HNX-Index dropped 2.71 points, or 1.2%, to 222.95 points. The exchange recorded 36 gainers and 114 decliners. Total trading volume reached 51.6 million shares, valued at VND941.5 billion.
