Domestic market – Spress

How did VinSmart do business before stopping production of phones and TVs?

Quang Thắng — Fri, 21 May 2021 12:41:13 +0000

In 2020, VinSmart has sold nearly 2 million mobile phones, an increase of more than 200% compared to the previous year’s sales and accounting for nearly 13% market share in Vietnam.
Established in June 2018, VinSmart is one of the two main companies operating in the manufacturing division of Vingroup, along with car and electric vehicle manufacturer VinFast.

This manufacturing company now owns a phone and electronic equipment factory with an annual design capacity of 125 million devices. In the most recent year (2020), VinSmart said it sold 1.95 million smartphones to the market, up 225% compared to 2019 sales (600,000 units). One of the two production components of Vingroup With record-high phone sales, VinSmart also became the third largest smartphone supplier in the domestic market with 12.7% market share. This is the first time a Vietnamese phone brand is in the top of the largest manufacturers and consumers in the market. VinSmart sold more than 1.95 million smartphones to the domestic market and exported 1.3 million units in 2020. Photo: Gemini. Notably, in addition to selling phones in the domestic market, in the past year, VinSmart also for the first time recorded revenue from outsourcing and manufacturing original equipment for foreign partners. In it, the company said it had signed a contract and started exporting smartphones to US carriers and foreign customers, with an output of 1.3 million units last year. Returning to the domestic market, VinSmart has now launched 18 smartphone models in the segments from popular to high-end. In addition, this manufacturer has also begun to expand its product portfolio to other electronic devices such as electronic components, air purifiers, etc. In 2020, VinSmart has also become a partner for manufacturing components. blower components for Medtronic PLC ventilators, exported to the US and Ireland. In addition to the production of phones and electronic devices, VinSmart is also the enterprise in charge of building a technology ecosystem for Vingroup’s real estate projects with three core products, including Smart city (member of Vingroup). smart city), Smart home (smart home) and Smart services (digital services). Currently, VinSmart is the contractor in charge of deploying smart city solutions in all 3 major urban areas of Vinhomes including Vinhomes Ocean Park, Vinhomes Smart City (Hanoi) and Vinhomes Grand Park (HCMC). Manufacturing is not prioritized? In the latest announcement, Vingroup announced that it will close VinSmart’s TV and mobile phone production segments to focus on developing high technology for VinFast. This move follows after Vietnam’s largest private group had to withdraw from a series of previous business activities to focus on industry and technology. In fact, although it is one of the two components forming the production division of Vingroup, VinSmart’s activities are always invested much less than VinFast. Specifically, in terms of both investment scale and business results, VinSmart is still very modest compared to car and electric vehicle manufacturers with the same owner. According to the separate financial report of parent company Vingroup in the first quarter, the original value of Vingroup’s investment in VinSmart is estimated at nearly VND 5,000 billion, an increase of more than VND 2,000 billion compared to the beginning of the year. However, this figure is less than a quarter of the value of Vingroup’s investment in VinFast, reaching VND 22,007 billion at the same time. The scale of investment and production activities of VinSmart is much smaller than that of VinFast. Photo: Hoang Ha. Despite being one of two subsidiaries that received additional capital through direct investment in the first quarter, the value of Vingroup’s investment in VinSmart is currently only fifth and much lower than other businesses like Vinhomes (22,981 Billion); VinFast (22,007 billion); Vinpearl (16,992 billion); Vincomerce Holding (5,928 billion). In previous years, the investment in VinSmart was also in the middle and low group of Vingroup’s long-term financial investments in subsidiaries. Regarding business results, because VinSmart’s operating report has not been published in detail, the company’s revenue and profit is still accounted for in the production department along with VinFast. In 2020, the revenue of Vingroup’s production division (including VinFast and VinSmart) reached over VND 18,000 billion, an increase of more than 80% compared to 2019. In which, the leader of this group said revenue increased sharply in the year. thanks to increased sales of cars and smartphones. However, as planned by the leadership of this group continuously, Vingroup’s production division in the same year had a pre-tax loss of nearly VND 14,000 billion. In the first quarter of this year, manufacturing was also one of Vingroup’s high-growth business divisions along with real estate. Revenue from this activity brought the group a total of VND4,825 billion, up 44% over the same period. However, the business results report by division of Vingroup said that this business segment still has a pre-tax loss of 4,814 billion. With the cessation of smartphone and television production, in the coming time, VinSmart will focus mainly on high-tech development for VinFast and partly on Vinhomes’ real estate projects. In addition, part of the factory will be used to process for partners, the rest will be expanded and adjusted to produce new products.

How does Vinsmart do business before stopping production of phones and TVs?

Hoàng Minh — Tue, 11 May 2021 04:54:07 +0000

After nearly 3 years of launch, VinSmart has become the third largest smartphone supplier in the domestic market with 12.7% market share.
Recently, Vingroup officially announced VinSmart will stop researching and producing TVs and mobile phones in order to focus entirely on VinFast.

Established in June 2018, VinSmart is one of the two main companies operating in the Vingroup’s manufacturing division, along with car and electric car manufacturer VinFast. This manufacturing company owns a telephone and electronic equipment factory with an annual design capacity of up to 125 million devices. VinSmart smart electronics factory in Hoa Lac Hi-Tech Park. Photo: Vingroup In Hoa Lac Hi-Tech Park (Hanoi), the complex factory of VinSmart has a total area of up to 15ha, of which, construction area of phase 1 is only 4.8 ha. At the factory in the first phase inaugurated in November 2019, the production area reached 4.5 hectares, including the electronic circuit board manufacturing subdivisions, phone manufacturing and independent research institutes. designed capacity of 26 million devices / year. Half a year after its inception, the company launched its first four smartphone lines. After two and a half years, the total number of VinSmart phone models has increased to 18 lines, of which the first product appeared in the high-end segment, and successfully produced terminals supporting 5G technology. . In 2020 alone, VinSmart said it sold 1.95 million smart phones to the market, an increase of 225% compared to 2019 sales (600,000 units). With record high phone sales, VinSmart also became the 3rd largest smartphone supplier in the domestic market with 12.7% market share. This is the first time a Vietnamese phone brand is in the top manufacturers and consumers in the market. As of early 2021, VinSmart’s distribution network of mobile phones has expanded with 10,000 retail agents, 4 customer care centers and 101 warranty points. Notably, not only consuming phones in the country, last year, VinSmart also recognized for the first time revenue from processing and manufacturing original equipment for foreign partners. VinSmart said that last year it signed a contract and started exporting smartphones to US carriers and foreign customers, with a production of 1.3 million units. In addition, the manufacturer also expanded its product portfolio to other electronic devices such as electronic components, air purifiers … In 2020, VinSmart also became a partner in manufacturing air blower components. supplied to Medtronic PLC’s series of ventilators, exported to USA and Ireland. Not only that, VinSmart is also in charge of building technology ecosystems for its real estate projects with three core products including Smart city (smart city), Smart home (smart home) and Smart. services (number services).

The konjac noodles – the ‘healthy’ recipe comes from Japan

Doãn Phong — Sun, 02 May 2021 11:59:12 +0000

Those who love Japanese culinary culture are no stranger to konjac noodles – a traditional dish of the country for hundreds of years, famous for its health benefits.
The konjac noodles (also known as shirataki or konnyaku) are made from refined konjac powder, mainly composed of glucomannan – a type of soluble fiber with particularly widely recognized uses.

Besides outstanding features such as low energy and negligible starch content, Glucomannan in konjac noodles is highly hydrated, so when eaten, the noodles pass through the digestive system slowly, helping people eat. Long-term satiety and delays the need to recharge your body. Therefore, konjac noodles are ideal food for people who are in the process of losing weight, dieting or needing to adhere to a low-carb diet (people with diabetes, people who eat keto …). Besides the use of food processing, konjac starch can also be used to prepare health foods or support pharmaceuticals for people with obesity, dyslipidemia, diabetes. In terms of taste, konjac noodles are a new gourmet choice thanks to their chewy, chewy, hard-to-crumble and easy to combine with many different spices. With the tradition of eating konjac noodles for centuries, the people of the country of the rising sun have created many types of this noodle and consider konjac noodles as one of the secrets of health care. Now, this product is also gradually popular in Asia and increasingly popular in the US and some European countries. In the domestic market, konjac noodles were not easy to buy in the past due to the lack of a suitable manufacturer and wide distribution system. The high-end nature of the product along with the expensive price is also a big hindrance to many interested people. The konjac noodles can be mixed salad, stir-fried with meat, eaten with soup, or simply dipped in fish sauce and many other dishes. In the North, Excook Joint Stock Company has invested in a factory with a modern production line to produce konjac noodles branded Vina Konnyaku. With the production goal to export to Japan and the US market, Excook’s factory is invested in a large scale, methodically meeting high food hygiene and safety standards, and has been certified ISO 22000: 2018. and HACCP. Currently, Excook is planning to penetrate into the domestic market to bring clean, healthy konjac Vina Konnyaku to numerous consumers at affordable prices. In the long term, Excook plans to develop konjac plantations in the northern mountainous provinces, creating more jobs for farmers, in line with the policy of high-value agricultural development.

In the first quarter of 2021, Dung Quat oil refinery achieved profit more than 2 times the annual plan

Ngọc Vy — Sun, 25 Apr 2021 14:55:09 +0000

In the first quarter of 2021, Binh Son Refining and Petrochemical Joint Stock Company (BSR) achieved a profit of 1,870 billion VND, equivalent to more than 2 times the plan of the whole year 2021.
According to the report, in the first quarter of 2021, total output of products consumed by BSR reached about 1.56 million tons, exceeding 2.9% of the quarter plan; revenue is nearly 21,000 billion dong, profit is 1,870 billion dong (reaching 216% of the plan of 2021), paying to the state budget 2,246 billion dong.

This result is due to the improvement of domestic market demand as the COVID-19 epidemic has gradually been controlled. Demand for diesel oil is high and gasoline demand is quite good. Demand for Jet A1 jet fuel has improved compared to the COVID-19 outbreak in late January 2021. Binh Son Refining and Petrochemical Joint Stock Company. In addition, oil prices in recent months have increased, making production and business activities of Dung Quat Oil Refinery more favorable. At the beginning of March 2021, the price of Brent oil sometimes increased to nearly 70 USD / barrel. In particular, the drastic implementation of the COVID-19 response solution package and oil price volatility are also very important factors to help BSR overcome all difficulties and exceed the targets. In addition, the Board of Directors of BSR has devised a strategy to overcome difficulties during a pandemic, implemented many drastic solutions such as adjusting the capacity range to suit market needs, enhancing cash flow management, and reducing maximizing costs and promoting activities of scientific research, innovation, innovation, and labor creation. With these foundations and the results achieved in the first quarter of 2021, BSR continues to propose flexible and trendy solutions and strategies to make stronger breakthroughs in the coming time. Accordingly, the company set targets to strive to achieve an output of about 6,497 million tons; revenue is 70,661 billion dong, paid to the State budget 7,698 billion dong and profit after tax is about 864 billion dong. To complete the tasks of 2021, BSR has proactively built business scenarios and plans to actively respond to unpredictable market fluctuations such as: Focusing on safe and stable plant operations in high capacity with optimal operating mode and product structure; continue to do well in market forecast work; promote innovation, research, application and diversification of new products with higher value. BRS also continues to thoroughly implement the work of reducing, saving costs and managing cash flow; improve governance capacity, increase digitalization of the management system to improve operational efficiency; continue to well implement the PetroVietnam Cultural Restoration Project, build BSR’s foundational culture based on the program “7 effective habits” to strengthen employees’ spiritual strength. In 2020, BSR also successfully overcame the crisis with positive results. BSR completed the 4th general maintenance of Dung Quat Oil Refinery; operating the plant safely, continuously and stably; production output reached 5.93 million tons, finishing 19 days before, exceeding 7% of the year plan. Notably, BSR achieved revenue of 57,895 billion VND, paid to the State budget 6,242 billion VND and reduced the loss to only 2,852 billion VND, lower than originally expected. BSR started to be profitable again from the third quarter of 2020, ending the accumulated loss for 2 consecutive quarters; cost reduction is nearly 2,000 billion VND; over 350 innovations and 40 initiatives were put into use, benefiting the company hundreds of billion dong.

FPT announced a pre-tax profit of 1,397 billion dong, up 22.3% over the same period

HÀ ANH — Fri, 23 Apr 2021 08:35:08 +0000

FPT Joint Stock Company (FPT code-HOSE) has just announced the business results of quarter 1/2021 with revenue and profit before tax increasing by 14.4% and 22.3% over the same period …

FTP stock price chart from the beginning of the year to now. FPT Joint Stock Company (FPT code-HOSE) has just announced business results for the first quarter of 2021 with revenue and profit before tax increasing by 14.4% and 22.3% year-on-year. Accordingly, at the end of Q1 / 2021, FPT’s revenue reached 7,586 billion VND and pre-tax profit reached 1,397 billion VND, up 14.4% and 22.3%, equivalent to 102% and 105% of the year plan. According to FPT, the strong growth in revenue and profit was due to the highest growth in technology sales in the last 4 quarters and the strong growth in the Telecommunications and Education sector. Specifically: Technology sector contributes 40% to the total profit after tax and 55% of the total revenue of the Group. New sales of Technology sector reached 5,834 billion VND, the highest level in the last 4 quarters and increased 46.3% over the same period. In addition, with the orientation of focusing on digital transformation for the customers of the Government and large enterprises, at the same time focusing on developing solutions, Made by FPT platforms, and information technology services for the market. FPT’s domestic market recorded high growth in both revenue and profit after tax, reaching VND 986 billion, up 40.1% and VND 59 billion, up 1,828.7% over the same period. In foreign markets, the revenue from IT services recorded VND 3,169 billion in revenue, up 9.6% over the same period. Profit after tax of this service sector reached VND495 billion, up 16.4% compared to quarter 1/2020, when the international market was not affected by Covid-19. With the strategy of “whale hunting” (focusing on large enterprises and high value contracts), FPT successfully signed 04 large contracts with sales of over 5 million USD / contract in Q1. / 2021. As a result, new sales of foreign markets increased by 43%, reaching VND 4,489 billion, which is the basis for accelerating the growth rate of revenue and profit in the remaining quarters of 2021. Telecommunication Division recorded 2,925 billion in revenue, up 9.6%, and 576 billion in profit after tax, up 29% over the same period. In which, the Telecom Services sector achieved VND 524 billion in profit after tax, up 30.7% thanks to the improvement in the after-tax profit margin of the Broadband Services segment as well as the new profit from the TV service segment. pay. Meanwhile, the revenue from the Education sector reached 698 billion VND, up 57% over the same period. It is known that the company’s General Meeting of Shareholders approved the business plan in 2021 with revenue of 34,720 billion VND, an increase of 16.4% and pre-tax profit of 6,210 billion VND, up 18%.

The gold price on April 15 turned down sharply

Hồng Quyên — Thu, 15 Apr 2021 04:40:11 +0000

Gold price update today April 15 recorded a decline when investors sold out to take profit despite the dollar’s continued weakness.

Recorded at the beginning of the morning session on April 15 at 8 o’clock in Vietnam time, the world gold price on Kitco was trading at $ 1,736 / ounce, down 9 USD compared to the previous closing session.

Gold prices have reversed to go down in the context of investors selling to take profits, although the value of the dollar continues to weaken compared to many other currencies.

Meanwhile, at an online discussion organized by the Economic Club of Washington Capital (USA), some economists warned that the size of government debt is soaring. However, Chairman of the US Federal Reserve (Fed) – Mr. Jerome Powell said this is not a problem to worry about and will resolve debts in the near future.

This information can make financial investors optimistic about the possibility of US economic recovery in the coming time. Accordingly, many people do not put capital into the gold market. Therefore, the price of gold is not strong enough to overcome the resistance level of 1,750 USD / ounce.

On the other hand, some investors are concerned that holding gold could be risky. They sold out strongly. Gold prices sometimes fall over 10 USD / ounce.

The price of gold turned down sharply

On the domestic market, DOJI Jewelry Group has listed SJC gold price at 54.90 million dong / tael (bought in) and 55.30 million dong / tael (sold out).

SJC gold price for retail transactions of Bao Tin Minh Chau Co., Ltd is listed at 54.91 million dong / tael (bought in) and 55.24 million dong / tael (sold out).