Truong Phat suddenly withdraws all capital from Phuong Nam bookstore chain

Lately, info to the Ho Chi Minh Metropolis Inventory Trade confirmed that Truong Phat Enterprise Growth Joint Inventory Firm offered all of its greater than 2.68 million shares of Phuong Nam Cultural Joint Inventory Firm (HoSE: PNC), equal to 24.84% of capital, within the session on August 20.

The variety of PNC shares traded by settlement matched the variety of shares offered by Truong Phat, with a complete transaction worth of greater than VND 24.14 billion, equal to VND 9,000/share. After the transaction, Truong Phat now not owns PNC shares, and on the similar time ended its function as the biggest shareholder at PNC after greater than 8 years (since August 2016).

After Truong Phat divested all its capital from Phuong Nam, Thanh Vinh Enterprise Growth Joint Inventory Firm turned the biggest shareholder of this bookstore chain with greater than 2.5 million shares, equal to 23.29% of capital. Coming in second is Liksin Printing and Packaging Business Company, proudly owning greater than 1.66 million shares, equal to fifteen.38% of capital.

The id of the customer of 24.84% of Phuong Nam bookstore chain from Truong Phat has not been introduced. Nevertheless, PNC stated that Ms. Tran Thi Ngoc Bich had simply purchased greater than 542,000 shares, growing her possession to five.02% since August 20. With the closing worth of VND10,200 that session, Ms. Bich spent about VND5.5 billion.

PNC shares are at the moment buying and selling at VND10,200, up 13.3% from the start of the 12 months. With greater than 11 million shares listed on the Ho Chi Minh Metropolis Inventory Trade, the market capitalization has reached greater than VND110 billion.

Phuong Nam Cultural Joint Inventory Firm, established in 1982, makes a speciality of cultural and media merchandise. The corporate is known for its Phuong Nam Movie model, Phuong Nam bookstore chain (almost 30 shops in Ho Chi Minh Metropolis and lots of different branches), ebook cafes (Phuong Nam E book Café), and kiosks on the airport.

Within the second quarter of 2024, PNC recorded web income of almost VND141 billion, down 11.3% year-on-year. Gross revenue reached about VND55 billion, down 7%. Revenue margin reached 39%, up 2 proportion factors year-on-year.

After deducting bills, the corporate had a pre-tax revenue of greater than VND1.8 billion and an after-tax revenue of almost VND1.4 billion, down 82% and 77.4% respectively. The administration defined the decline because of the basic market scenario, the distinction within the timing of recording movie income, and a lower in earnings from curiosity on deposits and loans.

Within the first half of 2024, PNC recorded web income of VND275 billion, down 16.4% year-on-year. Gross revenue reached about VND112 billion, down 11%, with a gross revenue margin of 40.7%. Pre-tax revenue reached greater than VND4.3 billion and after-tax revenue was almost VND3.8 billion, down 68.6% and 60.4% respectively in comparison with final 12 months.

This 12 months, PNC targets web income of VND625 billion and pre-tax revenue of VND17 billion, down 4.3% and 26.6% respectively in comparison with 2023. Thus, after 6 months, the corporate has accomplished 44% of the income plan and 25.3% of the revenue goal.

PNC plans to pay a dividend of 5% for 2024. As of the top of the second quarter of 2024, the corporate’s whole belongings reached greater than VND 563 billion, a rise of VND 35 billion in comparison with the start of the interval. Liabilities had been VND 377 billion, of which short-term debt accounted for greater than VND 376 billion. Proprietor’s fairness was greater than VND 186 billion and undistributed revenue after tax reached VND 51.5 billion.