BioNTech Annual General Meeting Vaccine effective against mutants

Status: 06/22/2021 6:13 p.m.

BioNTech boss Sahin uses the vaccine manufacturer’s general meeting to spread good news: Production will be increased and the vaccine also protects against virus variants. In view of the growing spread of the delta variant of the coronavirus, which is considered to be more dangerous, many people are wondering how the effectiveness of the various vaccines is doing in this regard. At today’s Annual General Meeting, CEO Ugur Sahin gave the all-clear for BioNTech’s product: “There is currently no evidence that our vaccine needs to be adapted to the variants in circulation,” he said. That does not mean that the company is stopping development: According to Sahin, BioNTech is working on flexible processes in the areas of technology, production and approval.

Constant analysis

In order to be prepared and to be able to react quickly if a third dose should be required to boost existing vaccinations or to adapt to a new virus strain, BioNTech constantly analyzes the effectiveness of the vaccine against newly emerging variants, the CEO explained.

Sahin also commented on the subject of booster vaccinations: It is not yet known when and how often a booster will be necessary. But he assumes “that a third vaccination is of great value for boosting immunity,” said Sahin. Knowledge about the corona virus is steadily increasing. “We observe that immunity will decrease over time and new variants will emerge.”

Sahin against patent release

The one raised by US President Joe Biden and other politicians Request for the release of patents to enable license-free vaccine production in developing countries, the BioNTech boss rejected. It is important to be able to make the vaccine available worldwide “as quickly and as comprehensively as possible”. However, raw materials are currently the “limiting factor”, not patents.

BioNTech is working with partners to deliver the vaccine cheaply to developing countries. However, a patent release would not bring additional amounts of vaccine. The production of the vaccine is very complex and consists of around 50,000 work steps.

Production is increased

During the Annual General Meeting, Sahin also commented on production: The BioNTech boss confirmed that the company, together with its US partner Pfizer, is aiming for a production capacity of up to three billion vaccine doses this year.

In the coming year 2022 it should be more than three billion. BioNTech will manufacture at least half of this. To date, BioNTech and Pfizer have shipped more than 700 million doses of their Covid-19 vaccine to over 100 countries worldwide.

Dividend is possible

The shareholders should also benefit from the billions in sales generated with the corona vaccine. Chief Financial Officer Sierk Poetting said that in the next financial year it should be checked whether and in what amount a dividend is possible.

However, the strategic priority for 2021 is the reinvestment of the capital in order to further advance innovations in various therapeutic areas and technologies as well as our corporate development, said Poetting. The Mainz biotechnology company achieved a net profit of 1.1 billion euros on sales of 2.05 billion euros in the first quarter of this year .

New production facilities

There was also news from BioNTech outside of the Annual General Meeting. The European Medicines Agency’s Committee on Medicinal Products for Human Use gives the go-ahead for two more production facilities to manufacture the joint corona vaccine from Biontech and Pfizer.

One becomes accordingly in Reinbek, Schleswig-Holstein, operated by Allergopharma, the parent company of Dermapharm , the other in the Swiss stone from Novartis Pharma. The work can be started immediately, since no approval from the EU Commission is required

While Coca-Cola’s new products have been well received by the market, a reporter from Beijing Business Daily discovered that beverage companies have already targeted the alcohol track. The beer category appears in the new trademark of Wanglaoji, a leading domestic herbal tea company, and another member may be added to the liquor market.

For many beverage companies involved in alcohol, industry insiders analyzed that beverage companies’ cross-border layout of alcohol is mainly because their category growth is restricted, and they hope to seek new increments through cross-border.

Cross-border wine sales

When the new Coca-Cola sparkling wine products were launched, heated debates arose. Beverage companies are very attractive to be a wine seller. When it comes to the sales market, beverage companies’ wine selling dividends begin to appear.

A reporter from Beijing Business Daily entered the official flagship store of Coca-Cola and found that from the first day of June to today, the new sparkling wine has three product links. According to incomplete statistics, the total sales volume is nearly 8,000 and the number of evaluations totals nearly 1,000. Compared with Rui’ao Zero Sugar Sparkling Wine, which was launched on JD.com on the same day, with only 100+ ratings, Coca-Cola’s new products are more popular in the consumer market.

It is not surprising that “Happy Water” is involved in wine, as the interaction between herbal tea and beer has also attracted attention. It is reported that Wanglaoji, a leading Chinese herbal tea company, has classified beer categories among the 100 newly applied trademarks. In this regard, the person in charge of Wang Laoji said that the company registered the trademark only to protect intellectual property rights, and there is currently no plan to market beer products.

However, a reporter from Beijing Commercial Daily found in the official flagship store of Guangyao Baiyunshan that Wanglaoji already had craft beer, Jibei, but the sales of this product were bleak, with monthly sales of only 3.

Yin Kai, the founder of Chaoyinhui (Shanghai) Brand Management Co., Ltd., believes that although Wanglaoji has had a dispute over management rights, he has always done a good job in trademark protection. Regarding the 32 categories of beer, Guangzhou Pharmaceutical Group applied for and was approved for registration in 1992 and 1995. Since then, it has continued to apply for a large number of trademarks in 32 categories. Therefore, Wang Lo Kat’s response does not rule out the possibility of his involvement in beer.

The company that loves liquor trademarks is also Genki Forest. In April this year, Yuanqi Forest registered “Liquor Gas Forest” and other liquor trademarks. The reporter further learned through Tianyan Check that in the international classification of Yuanqi Forest’s trademark information, there are a total of 1,365 “32 categories-beer and beverages” and a total of 474 “33 categories-alcohol”. Prior to this, Yuanqi Forest invested in Shanghai Bishan Beer Co., Ltd. and Beijing Guanyun Technology Co., Ltd. in February and March this year, respectively, and entered the beer and liquor double track.

Break the circle for profit

From Coca-Cola to Genki Forest, the enthusiasm of various beverage companies to sell alcohol is unabated. The main reason is to find new profit growth points outside of its own category.

Regarding Coca-Cola, some people in the industry believe that, in addition to improving the strategy of all-category beverages, beverage companies’ selling alcohol is more likely to seek to increase the company’s business under conditions of unsatisfactory performance. According to the 2020 financial report, Coca-Cola’s revenue last year was 33 billion U.S. dollars, a year-on-year decline of 11%. In addition, according to Coca-Cola’s 2021 quarterly report, the company achieved a net profit of US$2.25 billion in the first quarter of this year, a year-on-year decrease of 19%.

With the decline in the performance of beverage companies, the temperature of the beverage market remains unchanged. According to Tmall data in 2020, the search volume of product keywords such as “micro-drinking” and “fruit wine” has increased by about 70% year-on-year. Tmall liquor turnover data in 2020 shows that the overall year-on-year growth rate of wine is 40%, the growth rate of fruit wine is 70%, and the growth rate of pre-mixed wine is 60%.

Yin Kai believes that the alcohol products and self-owned beverage products of beverage companies have a considerable degree of overlap in the three dimensions of target groups, channels and consumption scenarios. At the same time, in terms of supply chain management and quality control, beverage companies have a crushing advantage over new startups. Compared with traditional wine companies, beverage companies have obvious advantages in consumer taste trend research and brand promotion.

Do consumers pay?

Beverage companies have set off a craze for selling alcohol, but what is concerned is whether these “foreign wines” can last and whether consumers will pay for it.

Industry insiders believe that from the beginning of Wahaha’s entry into the wine track in 2013, and now that young talents such as Yuanqi Forest hit the wine market, the layout of beverage companies in the wine industry tends to have a rapid momentum at the beginning, but the wine market needs long-term layout and deep cultivation , The alcohol products of beverage companies can arouse the curiosity of consumers, but they may not be able to retain consumers.

In the comment section of Coca-Cola sparkling wine new products, consumers have mixed feelings about the product. Some consumers say that the new product has a refreshing taste, low sugar and low fat, and another part of the consumer believes that the new product is “nothing but nothing” and “just passed.”

In addition, a person in charge of the supermarket beverage area told reporters that cross-border products such as new Coca-Cola sparkling wines will be considered when purchasing. Because this type of product will attract more curiosity to consumers, it can also be called a “traffic product”, but the product has not yet been launched in the supermarket, and its offline sales are difficult to predict, because the increase in online sales is not It means that offline is still popular.

Regarding the impact of beverage companies’ entry into the wine track on traditional wine companies, Yin Kai believes that most beverage companies are optimistic about low-alcohol wines and have little interest in high-grade wines. The low-alcohol body weight accounts for a very low proportion of the entire wine industry, so it will not have an impact on traditional liquor companies, but it will pose a certain threat to the beer industry. For pre-mixed and newly created low-alcohol wine companies, although they have taken root on the low-alcohol wine track, they still face pressure from many new entrants.

In the view of beer marketing expert Fang Gang, the future trend of beverage companies’ wine making is still difficult to see. After all, the boundary between wine and beverages is blurring.

Beijing Commercial Daily reporter Zhao Shuping, intern reporter Zhao Dan, intern Wang Ao

Accordingly, in 2021, the enterprise expects net revenue of 5,375 billion dong, after-tax profit of 806.4 billion dong, up by 289.76 percent and 302.7 percent respectively compared to the implementation in 2020. Of the VND 5,375 billion net revenue, VND 4,030 billion came from the real estate sector; 3,203.5 billion VND from construction and trade; 1,156.6 billion dong in the energy sector; 300 billion VND in production and agriculture; VND 323.7 billion in other fields; and revenue deductions are -3,638.7 billion. It is expected that by 2021 there will be 400 MWp of solar power generated. BCG’s 2021 strategy will continue to define itself as a leading development group in the renewable energy sector in Vietnam. In particular, the research and development to the LNG gas power segment, the total power output in the portfolio is from 2,000 MW to 2025. For the real estate sector, quickly complete unfinished projects in 2020 to record revenue for 2021, observe the market and deploy new projects cautiously on the basis of making use of available land. In the construction field, Tracodi has become a leading construction contractor in Vietnam. In addition, the enterprise also submits to shareholders the 2020 dividend plan at the rate of 10%. Of which, 8% is in cash and 2% is in stocks. It is known that in the annual shareholders meeting in 2020, the enterprise expects dividends to be 12%. Thus, the dividend rate has decreased 2% compared to the plan. Entering 2021, the dividend rate is expected to increase to 12%. It is known that dividends in 2020 are expected to be paid in the second quarter or the third quarter of 2021. A noteworthy content is that the business plans to continue offering to sell 148.77 million shares, equivalent to a rate of 50% to existing shareholders at the price of 12,000 VND / share. The amount expected to mobilize is 1,785.24 billion for the purpose of supplementing working capital of the business. Expected time is quarter III / 2021. Previously, the enterprise has just successfully offered to sell 68 million shares to existing shareholders at the price of 10,000 dong / share in March 2021. In addition, the enterprise also plans to offer 60 million individual shares to supplement working capital, the expected time in 2021. Closing the session on March 23, BCG shares stood at the reference price of 12,850 dong / share.

In the 2021 annual general meeting of shareholders on the morning of April 23, Mr. Le Quoc Binh, General Director of the company, explained the reason. Mr. Binh said that CII really wants to pay dividends because the BT project of Thu Thiem new urban area (total investment of over 10,000 billion dong) will finish this year and create cash flow for the company. However, this cash flow is late, and the debt index of the company at the end of 2020 will increase due to having to issue a large amount of bonds. In fact, bondholders forced CII to stop paying dividends to shareholders. Besides, the negotiation with foreign partners is quite difficult, so it is impossible to say when it is possible to close the right to pay dividend, Mr. Binh said. Shareholders suggest the company should use retained earnings from previous years to pay dividends in cash for shareholders. In response, Mr. Binh shared that according to the law, in order to pay dividends, the debt obligation criteria must be guaranteed in advance for a third party. Not to mention, CII needs to accumulate money to invest. Mr. Binh noted that it will be difficult for the company to ensure both debt repayment and investment and also pay dividends to shareholders. Therefore, Mr. Binh suggested that shareholders agree to the decisions of the Board of Directors to distribute profits, but Mr. Binh also affirmed that the company will do its best to ensure dividends to shareholders. 2021 is 12% cash (1,200 dong / share) “. The audited consolidated financial statements show that by the end of 2020, CII’s total liabilities are over 21,761 billion dong, of which short-term debt is 8,293 billion dong and long-term debt is over 13,468 billion dong. Debt to equity ratio is about 2.81 times. At the end of the stock trading session on April 24, the price of CII stock was temporarily stopped at VND 21,350 / share, a slight increase compared to the previous session, but down more than 6% within a week. CII share price fell by nearly 12% within a month and nearly 8% within a quarter.

This is an indicator that Vietcombank will reach and exceed its profit target for the whole year 2021. Previously, Vietcombank pre-tax profit in 2020 reached more than 23 trillion dong, equivalent to 2019 and reached 116.3% of the plan assigned by shareholders. Market capitalization by the end of 2020 reaches 15.7 billion USD and by April 22nd is over 16.4 billion USD – leading the industry. Expectedly, in 2021, the bank sets a target of 11% consolidated pre-tax profit (estimated at 25,585 billion dong), and separate pre-tax profit of 25,000 billion dong. Total assets are targeted to increase by 5%, capital mobilization from the economy increases by 7%, credit increases by 10.5%, and bad debt ratio is below 1%. In addition, the bank also plans to pay 2021 dividends at a rate of 8%. Mr. Nghiem Xuan Thanh, chairman of Vietcombank, said that the bank has set a strategic goal of 2 billion USD profit by 2025, of which the retail segment will contribute 50%, regardless of the Covid-19 epidemic affecting economy in general. Vietcombank also plans to increase its capital by more than 13 trillion dong to over 50 trillion dong by issuing shares to pay dividends from the remaining profit in 2019 and issuing separate shares with a scale of 6.5. % charter capital for up to 99 investors. Strategic partner Mizuho Bank will buy about 46.1 million additional shares to keep a minimum ownership rate of 15%. The bank continues to make great profits. Currently, Vietcombank is the bank with the highest new credit in the system. Therefore, if the capital is not raised, Vietcombank will not ensure the capital adequacy ratio as prescribed and this will affect the bank’s ability to provide credit to the economy, affecting its operational efficiency. In 2021, VCB expects that its total assets growth for the whole year will reach 5%, capital mobilization will increase 7% and credit growth will reach 10.5%. In the first quarter of 2021, many banks recorded high profit results and also set high targets for the year. VIB Q1 profit before tax increased 68% to more than 1.8 trillion dong thanks to the growth in scale and quality of the asset summary sheet, along with diversifying income sources. non-credit. ROE is 31%, highest in the industry. Also in the first quarter, Ho Chi Minh City Development Joint Stock Commercial Bank – HDBank (HDB) of billionaire female billionaire Nguyen Thi Phuong Thao recorded pre-tax profit of over 2.1 trillion dong, up 88% year-on-year. . During this year’s congress season, many banks have set out very impressive profit growth plans. Tien Phong Commercial Joint Stock Bank (TPBank) of Mr. Do Minh Phu is expected to grow 32% of its profit before tax this year compared to 2020, equivalent to about VND 5,800 billion. Saigon Hanoi Commercial Joint Stock Bank (SHB) of Mr. Do Quang Hien approved the highest 2021 profit plan to increase 88% to 6,100 billion if the bank completes raising capital in the third quarter. Viet Capital Commercial Joint Stock Bank – Viet Capital Bank (BVB) aims to grow 44% of its profit in 2021 thanks to its strategy of promoting retail sales, increasing bad debt collection, expanding network of operations … On the stock market, bank shares have risen sharply. From the beginning of this year to the end of the third week of April 2021, many Vietnamese banking stocks have had a very high growth rate of over 50%. The average increase in the banking sector’s share price was 15%, higher than the 10% increase in the number of VN-Index. The dominance of bank share prices is driving the entire stock market. It is forecasted that the profit of listed banks will grow 25-30% this year will be the main driving force to make bank shares more exciting. On the stock market (stock market), the VN-Index recovered to close to the threshold of 1,250 points. Closing the session on April 23, the VN-Index increased by 20.71 points to 1,248.53 points; The HNX-Index fell 3.4 points to 283,634 points. Upcom-Index increased 0.65 points to 80.4 points. Liquidity reached 23.3 trillion VND.

Mr. Minh affirmed that Sacombank and LienVietPostBank are currently two completely independent banks with no contact with each other. Mr. Minh said that he now dedicates all his love and enthusiasm to Sacombank because this is the bank associated with his interests at the moment. At the meeting, Mr. Minh also shared with his desire to receive dividends from many Sacombank shareholders soon. Mrs. Kim Cuc (70 years old) said she had invested in Sacombank for decades and had the greatest desire to receive dividends. Mrs. Cuc said that the bank’s leaders during the restructuring period drove Sacombank to achieve good business results, bringing joy to shareholders, but if the dividend is paid, “the more fun”. “I myself also want to be paid dividends. Sacombank’s stock price is currently good. But if we are restructuring, we must follow the roadmap of the State Bank. Dividend distribution must wait for successful restructuring ”, Mr. Minh answered to shareholders. Mr. Minh reiterated his promise when accepting the task of restructuring Sacombank, the Board of Directors committed to try to succeed after 5 years. After the restructuring is successful, the bank will return to its normal state, and will be entitled to pay dividends. Chairman of Sacombank expects that by 2022 or early 2023, dividends can be distributed to shareholders. Another issue is that the strategic shareholder participation in Sacombank, which is of interest to investors, is also briefly answered by Mr. Minh that can only be discussed after the restructuring is successful, reporting to the State Bank. “Successful restructuring takes into account dividends and strategic shareholders. The Board of Directors is trying its best, uniting with the management board and Sacombank’s staff to successfully restructure in 5 years as promised when receiving the tasks. Up to now, I affirm that Sacombank has regained its position in the banking and financial market, operating stably and strongly developing ”, Mr. Minh emphasized. Currently, 32% of Sacombank’s shares are collateral assets under the management of VAMC. Chairman of Sacombank said that according to the restructuring plan, the bank must consult the Prime Minister to implement the plan of auction of shares. this part. Expected price includes the original price plus interest about 33,000-34,000 VND. Mr. Minh said that these shares may have to wait until 2022 to resolve. Chairman of the Board of Directors of VAMC Nguyen Tien Dong assessed that if the auction is successful for these Sacombank shares, the bank will have more investors with “fresh money, real grain” to participate and the business will be more active. Regarding the business situation in the first quarter, Sacombank General Director Nguyen Duc Thach Diem said that the first 3 months’ profit reached 25% of the plan of pre-tax profit of 4,000 billion VND in 2021. The credit balance in the first quarter increased by 5.8 %, capital mobilization increased 3%. In the first 4 months of the year, the bank successfully handled 2,280 billion dong of bad debt.

A longtime shareholder of the bank did not hide his excitement when in just 1 year, SHB shares increased 4.5 times, from only 6,000 VND in early 2020 to nearly 28,000 VND today. Shareholders expressed their hope that in the future, stock prices will continue to rise to the Top 5 group of Vietnamese commercial banks. Chairman of the Board of Directors, Mr. Do Quang Hien, said: “In previous years, there were shareholders who were very concerned about how the Board of Directors was responsible for increasing stock prices. We only have a responsibility to do well, good governance for a healthy and transparent development of SHB, investors will analyze and evaluate the performance by themselves; Enterprise value will determine the value of the stock. The price increase of SHB shares also shows investment interest, affirming the value of SHB in the present and in the future ”. Vote Hien: Last year, shareholders were very concerned about the responsibility of the Board of Directors to raise the stock price At the 2021 annual shareholder meeting, SHB said that it would pay dividends for 2019 and 2020 in shares at the rate of 10% and 10.5%, respectively. At the same time, SHB wants to offer shares to existing shareholders at the price of 12,500 dong / share. If completing these plans, SHB’s chartered capital will increase sharply to over 26,600 billion dong. SHB offers 2 scenarios for profit plan for 2021. Scenario 1, in case the bank completes the issue of additional shares to the public in the third quarter of 2021, the additional capital used in business operations will contribute to increasing the bank’s profit, expected reached 6,128 billion, up 87% over the previous year. Scenario 2, SHB completes the public offering of shares in quarter 4/2021, profit plan is expected at VND 5,828 billion, up 78%. By the end of Q1 / 2021, the bank’s total assets reached more than 418 trillion dong, pre-tax profit reached 1,664 billion dong, more than doubling compared to the same period last year. Regarding the transfer to the listing, SHB has recently received an official letter from the Ho Chi Minh City Stock Exchange that SHB’s profile has met the conditions under the HOSE’s Securities Listing Regulation. Official trading of bank shares on HOSE will be done after the technology infrastructure issue is handled. In 2021, SHB will increase its capital to VND 26,674 billion, of which the first source will increase from the fact that SHB pays 10% dividends to shareholders in 2019, approved by the State Bank and the SSC. Expected implementation time is in May 2021. After completing the dividend payment, SHB’s chartered capital will increase to more than 19,260 billion dong. The second source is from the dividend payment of 2020 at the rate of 10.5%. After the meeting, the Bank will submit to the State Bank for approval this plan. The third source, the Bank will increase capital from the offering of shares to existing shareholders by the method of exercising rights at the ratio of 100: 28, the expected asking price of VND 12,500 / share – less than half of the current price. now on the stock market. SHB has currently selected 2-3 major partners for the divestment plan of SHB FC Consumer Finance Company. Expected to successfully divest this year. SHB will increase capital by 5,000 billion dong from issuing shares for foreign investors and foreign strategic investors. Shareholders also agreed to approve the transfer of SHB’s capital in SHB Laos and SHB Cambodia to other investors at the maximum rate assigned to SHB’s Board of Directors for decision.

Speaking at the meeting, Mr. Nghiem Xuan Thanh – Chairman of Vietcombank – said that the bank’s management board will submit to shareholders a specific business plan for 2021 along with the plan to increase charter capital to over VND 50,000 billion. is expected to increase through 2 times with a total increase of more than 13,300 billion. Specifically, in phase 1, Vietcombank will increase its charter capital from VND 37,088 billion to VND 47,325 billion by issuing more than 1 billion shares from the remaining undistributed after-tax profit after dividends in 2019 (billion 8% in cash). Implementation period in 2021. Vietcombank plans to increase its capital through 2 shares issuance Phase 2, Vietcombank will issue private shares with a scale equivalent to 6.5% of charter capital at the time of offering. Expected additional capital increase phase 2 is more than 3,076 billion. After the issuance, the bank’s chartered capital will increase to VND 50,401 billion. Offering subjects are institutional investors with financial potential, which may include one or several existing shareholders. During the private offering, Vietcombank plans to issue at least 46 million shares to strategic partner Mizuho Japan to keep its ownership rate at least 15% and issue more to other investors. Shares will be issued to a maximum of 99 investors. The issue price is not lower than the valuation of the valuation organization and arithmetic average of the closing price of 10 trading sessions on HoSE, immediately preceding the date the investor announced the purchase. The execution period will be in 2021 and will continue in the following year if not completed. Vietcombank’s new capital raising plan is 9% higher than its 2020 plan and 36% higher than its current charter capital. In addition, at this morning’s shareholders meeting, Vietcombank also plans to use all remaining profits after tax, deducting funds for 2020 to pay dividends. However, the specific plan needs to wait for the State Bank’s official opinion. In 2021, Vietcombank sets a target of 5% increase in total assets, 10.5% increase in credit balance and 7% increase in mobilization. According to the plan, the target consolidated profit before tax of Viecombank will increase 11% to VND 25,600 billion. NPL ratio less than 1%. HA Mr. Pham Quang Dung: Twice appointed General Director of Vietcombank

Accordingly, Sacombank’s shareholder meeting has approved the business plan of 2021 with the pre-tax profit target of 4,000 billion dong, up 20% year-on-year. In addition, total assets are 533,300 billion VND, an increase of 8% compared to 2020; the total mobilized capital reached 485,500 billion VND, an increase of 9% over the previous year. In which, mobilization from residents and economic organizations is expected to reach VND 478,300 billion, an increase of 9%; Total credit balance reached 372,000 billion VND, up 9% compared to 2020. Sacombank said, based on the allowed credit growth of the State Bank and the business situation in 2021, the Board of Directors will adjust appropriate deposit and loan growth target. NPL ratio with Sacombank’s target in control is below 2%. Answering questions from shareholders about business results in the first quarter of 2021, Ms. Nguyen Duc Thach Diem, General Director of Sacombank said that by the end of March 2021, Sacombank’s capital mobilization increased by over 3.5%, lending credit room reached 5.8%, revenue over 1,200 billion services. Bad debt settlement in 4 months is 2,280 billion dong. Profit reached 25% of the plan, equivalent to 1,000 billion VND. Sacombank’s Board of Directors also said that the bank’s profit retained was high at 6,000 billion dong. The Bank plans to use retained earnings to pay stock dividends, to increase charter capital as well as to meet shareholders’ expectations for many years without receiving dividends. Sacombank has submitted to the State Bank for dividends, but since the Bank is in the restructuring process, resources must be concentrated to handle bad debts. Sacombank aims to handle VND 10,000 billion of bad debt. Responding to shareholders about the dividend schedule, Mr. Duong Cong Minh, Chairman of the Board of Directors of Sacombank, said that when the restructuring is successful, the Bank’s Board of Directors promises to try to restructure successfully in 5 years, expected to be 2022 or more. to normal status, early 2023 will be able to pay dividends. According to Mr. Minh, the Bank is focusing on handling outstanding bad debts. The bank continues to open a public and transparent auction of Phong Phu industrial park. Over the past time, Phong Phu shareholders have had a lot of controversy to buy and sell lawsuits, so the People’s Committee of Ho Chi Minh City is suspending to resolve it completely, hoping to continue to handle it in 2021. In addition, Sacombank has also sold successful auction of many real estate to recover bad debt. Before the information about whether to merge LienVietPostBank (LPB) into Sacombank (STB) as well as the relationship between these two banks, Mr. Duong Cong Minh said: “LienVietPostBank is a natural child, I let go to get married, Sacombank is my daughter-in-law recently married, so I’m more precious, and my job is to focus on Sacombank “. In addition, the Chairman of Sacombank also informs shareholders about plans to sell capital to foreign investors that can only be resolved when the restructuring is successful. Speaking at the AGM of Sacombank this morning, the representative of the State Bank highly appreciated the handling of the post-merger bad debts of Sacombank. In particular, the role of the head of the Board of Directors is Mr. Duong Cong Minh – Chairman of the Board of Directors and Ms. Nguyen Duc Thach Diem – General Director of Sacombank. However, at the request of SBV leaders, after the epidemic is controlled, Sacombank needs to focus on promoting asset sales to handle bad debts and outstanding assets since the time of Tram Be at Phuong Bank. South after merging with Sacombank. By the end of 2020, Sacombank’s consolidated pre-tax profit reached VND 3,339 billion, an increase of 3.8% compared to 2019 and 30% higher than the plan. Profit after tax reached VND 2,682 billion, up 9.2%. Total provision balance of Sacombank by the end of 2020 is 13,000 billion VND, an increase of 43.3% compared to 2019 (equivalent to the level of provisioning in 2020 is 3,951 billion VND). As of December 31, 2020, total bank assets reached VND 492,637 billion, an increase of 8.6% compared to the end of the previous year. Customer deposits increased by 6.8%, reaching VND 427,972 billion. By the end of 2020, the total NPL of Sacombank increased by 0.8% to 5,780 billion VND. Meanwhile, customer loans balance grew 14.9% y / y to VND 340,268 billion. Thereby dragging the ratio of NPLs to total outstanding loans decreased from 1.94% to 1.7%. Sacombank’s revenue from collecting and handling bad debts in the past year reached more than VND 15,200 billion. In which, 8,200 billion VND was withdrawn from the Sacombank Restructuring Project after merging with Southern Bank. Raising the accumulated recovery from the project implementation to 46,457 billion VND, reaching 52.2% of the overall plan of the Project to 2025, exceeding 4.2% of the progress. Outstanding assets under the Project decreased by 48.2% compared to the end of 2016, accounting for 9.8% of total assets, contributing to increasing the proportion of profitable assets from 67.9% to 85.2%.

The market performance of constituent stocks directly affects the net value of the fund, so it is a good angle to study a fund from the composition of constituent stocks. Next, let’s take a look at the constituent stocks of the Shanzheng Dividend Potential ETF? And what are the characteristics of these constituent stocks?

1. Constituent stocks are concentrated in consumer and other sectors, 80% of the constituent stocks will achieve positive returns in 2020

From the perspective of industry distribution, the 50 component stocks of the Shanzheng Dividend Potential ETF are mainly concentrated in the fields of daily consumption, optional consumption, finance, real estate and materials. Among them, daily consumption and optional consumption accounted for approximately 32% and 18% respectively, and the total accounted for approximately 50%. The proportion of consumer stocks reaching half is related to the screening indicators of the Shanzheng Dividend Potential ETF. The consumer industry generally has a higher return on net assets, which can better meet the fund’s requirements for related indicators.

From the perspective of the top ten constituent stocks, as of the end of 2020, the top ten constituent stocks of the Shanzheng Dividend Potential ETF are Ping An of China, Midea Group, Kweichow Moutai, Wuliangye, Yili, Poly Real Estate, China Pacific Insurance, China Shenhua, Conch Cement He Yanghe shares accounted for approximately 13.71%, 10.00%, 9.69%, 6.53%, 5.39%, 4.79%, 3.95%, 3.54%, 3.47 and 3.12% of the fund’s net asset value, respectively. The total weight of the top ten constituent stocks reached approximately 64%, and the total weight of other constituent stocks accounted for approximately 36%

It is worth noting that in 2020, 40 of the 50 constituent stocks of the Shanzheng Dividend Potential ETF have received positive returns, accounting for up to 80%.

Thanks to the continuously high liquor market, many liquor stocks held by the Shanzheng Dividend Potential ETF in 2020 have achieved excellent market performance, including Kweichow Moutai, Wuliangye, Luzhou Laojiao, Shanxi Fenjiu and so on. Among them, Shanxi Fenjiu’s stock price rose 321% last year, Luzhou Laojiao’s annual growth rate reached 164%, Wuliangye’s annual growth rate reached 122%, and Kweichow Moutai’s annual growth rate reached 71%.

In addition, Midea Group, Haitian Flavor, Shuanghui Development, Hualan Bio, Gigabit, and Farah Electronics, which are held by Shanzheng Dividend Potential ETF, also recorded good market performance. For example, Midea Group’s share price rose 74% last year, Haitian Flavor’s share price rose 126% last year, and Farah Electronics’ share price rose 123% last year.

2. Multiple index screening, annual adjustments to ensure that the constituent stocks are all high-quality companies

The Shanzheng Dividend Potential ETF tracks the yield of the China Securities Dividend Potential Index. The investment style is a balanced market. The constituent stocks with a market value of more than 100 billion account for 42%. The constituent stocks span the Shanghai and Shenzhen stock markets and are representative of the market. The 50 constituent stocks of the fund are all high-quality stocks. These companies have established leading market positions in their respective industries, with strong competitiveness and stable performance, showing large market capitalization, high return on equity, low turnover rate, low volatility and high Growth characteristics.

In order to select high-quality constituent stocks with growth potential, the Shanzheng Dividend Potential ETF has increased the requirements for corporate profitability indicators and growth capabilities on the basis of the original screening of the dividend potential index. Therefore, the Shanzheng Dividend Potential ETF has achieved Market performance that is better than the broader market index and better than the index being tracked brings stable and considerable investment returns to investors.

According to Wind data, compared with the Shanghai and Shenzhen 300 constituent stocks and all A shares, the dividend potential index constituent stocks have higher average return on equity and earnings per share in the past three years, that is, the index reflecting the company’s profitability is superior. Not only that, compared with the Shanghai and Shenzhen 300 constituent stocks and all A shares, the dividend potential index constituent stocks have higher revenue growth and net profit growth in the past three years, that is, the index reflecting the company’s growth ability is superior.

It should be noted that these constituent stocks of the fund are not static. The constituent stocks of the dividend potential index will be re-ranked and adjusted once a year according to the quality factor. This ensures that the companies in the portfolio basket will always be the best companies in the market, making the index Continue to perform well. For example, on December 16, 2019, the component stocks of the Dividend Potential Index underwent a substantial adjustment, including good companies such as Haitian Weiye, Gigabit, and excluding Chaohongji, Guoguang Stock, and Jiangzhong Medicine. Industry and other companies.

3. The fall in valuation of constituent stocks highlights investment advantages

After the overall adjustment after the Spring Festival, the valuation advantages of many leading companies in the industry have begun to become prominent. For example, Kweichow Moutai, a major stock of the Shanzheng Dividend Potential ETF, had a price-earnings ratio (TTM) of more than 73 times this year, and has now fallen to around 54 times. Another major stock, Midea Group, is no exception. Its price-to-earnings ratio (TTM) has changed from It fell from about 30 times to about 22 times. As of April 15, 2021, the median stock-to-earnings ratio (TTM) of the fund’s 50 constituents is about 23 times, and the median price-to-book ratio is about 4 times.

From an investment point of view, these high-quality companies have no problems in their operations, but stock prices have adjusted due to short-term market fluctuations. As their valuations fall, the company’s investment attractiveness has increased. In addition, these constituent stocks themselves have high cash dividends and have great potential for future dividends. When the market adjusts, the dividend rate will rise. They are good dividend-receiving stocks. For example, among the constituent stocks of Shanzheng’s dividend potential ETF, China Fortune Fortune, Wen’s shares, Daqin Railway, China Merchants Shekou, China Shenhua, Gemdale Group, Poly Real Estate and other companies have dividend rates above 5%.

In summary, the constituent stocks of the Shanzheng Dividend Potential ETF are all high-performance benchmarks, which can reflect value and growth. The market performed well last year. Now that the overall valuation is more reasonable after the valuation declines, and the high dividend rate lays a safety margin, this index fund is suitable for investors with low risk appetite and long-term financial planning.

Pha Lai Thermal Power: Q1 profit slightly increased to VND138 billion despite a 51% decline in revenue.

Revenue in the first quarter of Pha Lai Thermal Power reached more than VND 1,078 billion, down 51% compared to the same period in 2020. Subtracting more than VND 1,048 billion of COGS, Pha Lai Thermal Power earned only nearly 30 billion VND of gross profit, while the first quarter of 2020 recorded more than 168 billion dong.

Pha Lai Thermal Power’s gross profit margin fell sharply to 2.77%, 4.77 percentage points difference over the same period in 2020.

The Pha Lai Thermal Power side said that the power output produced in the first quarter of the year reached 849.66 million kWh, 891 million kWh lower than in the first quarter of 2020, making low revenue from electricity sales and profit from power generation. also affected decrease.

Notably, the company’s financial activities recorded a sudden increase in revenue to more than 119 billion dong, nearly 5.8 times higher than the first quarter financial revenue of 2020. Thanks to that, the profit earned from this activity is also 5 times higher than the same period to over 97 billion dong.

According to Pha Lai Thermal Power, in the first 3 months of 2021, this company has received 97 billion dong of dividend from Hai Phong Thermal Power Joint Stock Company. It is known that Hai Phong Thermal Power in the first quarter has paid 2 dividends in 2020 to shareholders with a total rate of 10%.

This company also plans to submit to the annual shareholders’ meeting in 2021 to pay additional dividends in 2020 at the rate of 14.25%, increasing the total profit distribution rate in 2020 to 24.25%. If the shareholder meeting of Hai Phong Thermal Power approves this content, in the coming time, Pha Lai Thermal Power will continue to record positive signals from financial activities.

Closing the first quarter, Pha Lai Thermal Power reached VND 138 billion in profit after tax, a slight increase of 2% over the same period in 2020.

In 2021, Pha Lai Thermal Power Board plans to submit to the AGM a business plan going backwards with revenue down 32%, pre-tax profit down 66%, standing at VND 5,658 billion and VND 415 billion respectively.

Dividend rate in 2020 submitted to the meeting is 59%, of which the company has paid in advance 481 billion dong, equivalent to 15%.

With the results achieved in the first quarter, Pha Lai Thermal Power has completed 19% of the revenue plan and more than 35% of the profit plan.

As of March 31, 2021, the company’s total assets reached more than VND 6,715 billion, down 7% compared to the end of 2020. In which, cash and cash equivalents decreased sharply by more than 66% to 92 billion VND. . Short-term receivables from customers also decreased by 35% to more than 975 billion.

Total liabilities at the end of the first quarter of 2021 reached VND 478 billion, a decrease of over 36% compared to the end of 2020, of which the decrease was mainly in short-term payables to sellers.