BANKING ACADEMY OF VIETNAM

FACULTY OF FOREIGN LANGUAGES

GROUP ASSIGNMENT

INVESTMENT REPORT
SECURITIES MARKET IN VIETNAM

Lecturer : Trần Anh Tuấn

Group : Group 03
Class : 231FIN45A06
 Assessment of individual contributions in our group

Student Contribution
No. Full name number Task Level
- assigning work
- contributing contents
1 Lưu Thu Thủy 24A7512000 100%
- completing contents and slides
- contributing ideas

- contributing contents
2 Phan Thị Thanh Vân 24A7512009 100%
- contributing ideas

- create presentation slides

3 Nguyễn Thị Thu Hồng 25A7510572 100%
- contributing ideas

- presenting
4 Nguyễn Thị Hà 25A7510320 100%
- contributing ideas

- contributing contents
5 Lê Ngọc Diệp 25A7510305 - completing contents 100%
- contributing ideas

- presenting
6 Nguyễn Hải Anh 25A7510287 100%
- contributing ideas

- presenting
7 Hồ Lan Phương 24A7511757 100%
- contributing ideas
 INDEX

I. Introduction ............................................................................................................................................... 3
II. Account opening process ......................................................................................................................... 3
1. Introduce VPS company ....................................................................................................................... 3
2. Reasons for choosing VPS company to open account .......................................................................... 3
a. Brand of VPS securities company ..................................................................................................... 3
b. VPS Stock Transaction Fees ............................................................................................................. 4
c. The brokerage department supports investment consulting of VPS .................................................. 4
d. Stock brokerage market share of VPS............................................................................................... 5
e. VPS software system ......................................................................................................................... 5
f. Charter capital of VPS....................................................................................................................... 6
g. Support opening EKYC securities accounts...................................................................................... 6
3. Account opening process ...................................................................................................................... 6
4. Securities Investment Commencement Timing: ................................................................................. 13
5. Steps in making the investment choice: .............................................................................................. 13
III. Investment diary ................................................................................................................................... 14
1. Securities market situation at the time of investment ......................................................................... 14
2. Analysis of Hoa Sen Joint stock company .......................................................................................... 16
a, Overview of Hoa Sen Group ........................................................................................................... 16
b, History of Formation and Development ......................................................................................... 16
c. Investment Sector ............................................................................................................................ 17
d. Subsidiary Companies .................................................................................................................... 18
e. Company Achievements .................................................................................................................. 19
f. Competitive Strategy of the Company.............................................................................................. 19
g. SWOT Analysis Model .................................................................................................................... 20
3. Analysis of the HSG Stock Trading Process ...................................................................................... 21
IV. Final settlement of account ................................................................................................................... 24
V. Assessment of the group's investment outcomes ................................................................................... 24
Conclusion……………………….………………………………………………………………………..26
References…………………………………………………………………………………….…………..26
I. Introduction
The current percentage of the population with securities market accounts in
Vietnam is around 4%, and the government aims to increase the number of
participants. However, investing in the stock market carries significant risks, but it
also offers substantial profit potential for investors. To minimize risks and seize
opportunities, our group has decided to participate in the "Stock Market" course
under the guidance of the instructor. This has provided us with an opportunity to
invest in and access a new market, and the following report is the result of our
stock market investment journey.

II. Account opening process

1. Introduce VPS company

VPS Securities Joint Stock Company was established in 2006, when it was first
established, it was called Vietnam Prosperity Joint Stock Commercial Bank
Securities Joint Stock Company (VPBS). Currently, VPS has become one of the
securities companies with the largest market share in Vietnam. As of June 30,
2019, VPS has charter capital of VND 3,500 billion and total assets of VND
10,274 billion.
VPS Securities Company provides diverse, high-quality products and services,
creating added value for businesses and investors including: stock brokerage,
financial services, investment banking services, financial consulting and analysis.
As a financial intermediary organization, investment banking activities are the
central focus of VPS's development orientation.
VPS provides financial services such as capital arrangement, securities
underwriting, mergers and acquisitions (M&A) activities, consulting on
determining business value, restructuring capital and debt in each project stage.
2. Reasons for choosing VPS company to open account
a. Brand of VPS securities company

One of the most important factors in choosing a securities company is the brand of
the securities company. The brand name securities company is not big, the reputation

3
is not high, the charter capital is low, the amount of money investors deposit is
sometimes even larger than the company's charter capital. Therefore, choosing a
brand is an extremely important factor. VPS is one of the securities companies that
has many years of experience working in the securities field. VPS used to be one of
the securities companies belonging to VPBank. VPS inherits VPBank's financial
management capabilities.

b. VPS Stock Transaction Fees

There are many different types of fees that investors have to pay, but the most
important are transaction fees and margin loan fees (margin interest rate), as for
service fees and taxes, which securities company should an investor open an account
at? same.

On December 27, 2018, the Ministry of Finance issued Circular No. 128 regulating
service prices in the field of securities applicable to securities trading organizations
and commercial banks participating in the Vietnamese stock market. According to
this regulation, the maximum price of brokerage services for buying and selling
stocks, fund certificates, and covered warrants (applicable to listed securities and
securities registered for trading) is 0.5 % transaction value and no floor rate applies.
Regarding derivative securities services, the maximum price of futures contract
brokerage services is 15,000 VND/Index futures contract and 25,000
VND/Government bond futures contract. Some securities companies announced
policies to reduce securities transaction fees to 0.1% such as VPS Securities Joint
Stock Company (VPS), Vietnam Construction Securities Joint Stock Company
(VNCS).

Currently, the fee for underlying securities at VPS is 0.1%, the fee for derivatives
transactions is only from 500 - 1000 VND/1 contract, VPS's margin interest rate is
less than 1 billion only 9. 8%/1 year. VPS is one of the securities companies with
the cheapest transaction fees in Vietnam today.

c. The brokerage department supports investment consulting of VPS

If transaction fees are a factor investors need to consider, then the quality of the
consulting broker is a matter of concern in terms of what support they receive when
that broker advises them. Securities accounts are usually managed by the brokerage
department. Investors can choose to trade themselves or receive advice, the fee for
advice is usually higher. However, for those coming to the market for the first time,
this consultation is necessary.
4
The investor is responsible for each time he presses the "Buy" or "Sell" button on a
stock. If you have investment knowledge and experience, it's great. But for new
investors, those who do not have much experience, the advice of the stock brokerage
department will help limit the risks somewhat.
Currently in the market, there is a VPS securities company that maintains the same
transaction fees for accounts without consulting brokers and with consulting brokers
(usually other companies will have higher fees when consulting broker).

d. Stock brokerage market share of VPS

According to the latest update on stock brokerage market share, VPS, SSI, HCM,
VND, and MSB securities companies have accounted for 65-70% of the stock
brokerage market share of the entire market.

Just like a good, reputable product with a good price will be bought and used by
many people and VPS is currently a securities company with a huge market share in
Vietnam, the derivatives segment alone accounts for nearly 60%.

It is not natural that the VPS securities company has such a large stock brokerage
market share. VPS has good quality and a very good support consulting team, which
makes many stock investors open accounts at VPS. This. Currently, VPS has the
cheapest stock transaction fees in Vietnam.

e. VPS software system

Trading software systems and investment support services are also very important
factors. In today's transactions, all transactions are done over the internet. The
software system is not fast or good, which will hinder investors' ability to buy and
sell.

Securities companies now have many investment support services, such as virtual
stock trading software systems, software providing stock data, investment buying
and selling recommendations, etc.

Advantages: VPS's software system is fast and stable even when the market is bad,
the mobile interface is beautiful and modern, and there is a virtual derivatives trading
system for new investors.

5
f. Charter capital of VPS

This is one of the very important criteria related to reputation and safety when
customers consider the best place to open a stock account. Normally, a securities
company with a large charter capital will not only demonstrate the company owner's
commitment to long-term sustainable operations, but also attract large cash flows
and customers.VPS Securities Company is ranked in the top 3 in terms of market
capitalization, thus strengthening the long-term safety when entrusting your account
to VPS Securities Company.

g. Support opening EKYC securities accounts

VPS Securities Company allows opening 100% online securities accounts using
EKYC technology to authenticate account opening. With just a few steps such as
verifying signature and face... the investor can open an account.
This helps all customers anywhere in Vietnam or around the world, just need to bring
an ID card or identification card to open a securities account at VPS.

3. Account opening process

Use VPS SmartOne app to open an online securities account

Step 1: dowload app SmartOne Online trên Appstore (IOS) or CH Play (Android).

6
Step 2: After successfully downloading, click "Open an account now"

Step 3: Enter basic information and click "Continue"

7
Step 4: Take/upload photos of valid ID/CCCD front and back. (image is clear and
well lit)

Step 5: Scan for facial recognition

8
Step 6: Download a photo of your personal signature (sign and clearly state your
full name) and enter the OTP authentication code (sent to your registered personal
phone number). Then the screen will switch to notification of successful mining of
the account.

Step 7: Receive account number, login name, password, PIN in phone SMS and
receive account opening contract in registered gmail.
Step 8: Log in to your account. Section to change password and Pin code for the
first time + Verify account information.

9
How to deposit money into VPS securities account from VPBank (via
VPBank's Smart Banking application)
Step 1: At the main screen of the app, click "Other services", select "Deposit
securities", then select the provider "VPS Securities"

Step 2: Enter correct information to make the money transfer

 Customer code: enter the stock account number after the available
string 026C
10
  Customer name
 Securities account: select the subaccount you want to pay
 The amount you want to pay

Step 3: Check the information and click "Confirm"

Step 4: Enter Smart OTP PIN and press "Confirm transaction"

How to trade/Place orders

Step 1: Select the "Stocks" icon and the screen displays the interface as shown.
Select “Buy/Sell” depending on your needs

11
Step 2: Enter the stock code you want to trade and the value you want to buy.
Buying volume must be less than or equal to the Maximum Buying Volume for the
transaction to be performed. (The system will display “Maximum purchasing
power” and “Maximum purchasing volume”)

Step 3: Click the "Place order" button and the screen will display the successful
transaction status

12
4. Securities Investment Commencement Timing:

 Investment Start Time: 10:10 AM on October 3, 2023

 Investment End Time: 9:31 AM on November 1, 2023
 Investment Amount: 180,000 VND / 7 members
Total Initial Investment Amount: 163,000 VND
 Selected Stock Investment: HSG
 Number of HSG Shares Invested: 8.35

5. Steps in making the investment choice:

Step 1: Our group conducted research and refered to the stock codes recommended
during the expert session on September 24, 2023.
Step 2: The leader scheduled a meeting, and our group discussed and made the
decision to select stock code HSG for investment.
Step 3: The leader created VPS account, show the members how to create account,
deposit funds, and purchase shares. We had been monitoring the stock code HSG
from October 3rd to November 1st.

13
III. Investment diary

1. Securities market situation at the time of investment

Statistics from the Hanoi Stock Exchange (HNX) show that, on the listed
stock market, HNX index tended to decrease at the end of September and closed at
236.35 points, down 5.1% compared to the end of August. Foreign sector returned
to a net purchase of more than 356 billion VND in September; Of which, the total
buying value reached more than 778 billion VND, the selling value reached more
than 422 billion VND.

Accordingly, in the first half of September, the stock market listed on HNX
continued to extend the upward trend from the past 4 months, the HNX-Index
peaked at 256.32 points on September 12, the highest index level since the
beginning of 2023. After that, HNX-Index tended to decrease in late September
and closed at 236.35 points, down 5.1% compared to the end of August.
Liquidity in the market also decreased compared to last month with an average
trading volume of more than 116 million shares/session, corresponding to an
average trading value of more than 2,298 billion VND/session, a decrease of
22.7% in volume. transactions and decreased 13.3% in transaction value compared
to the previous month.

Transactions of the HNX30 stock group in September had a total trading volume of
more than 1,466 million shares, corresponding to a transaction value of more than
35.03 trillion VND, accounting for 66.42% of the trading volume and 80% of the
total trading volume. .22% of total market transaction value.

The stock with the largest trading volume at HNX continues to be the stock code
SHS of Saigon-Hanoi Securities Joint Stock Company with a proportion of 20.9%
of the total market trading volume, equivalent to more than 474 million shares
traded. traded, followed by CEO shares of C.E.O Group Joint Stock Company with
a proportion of 8.52%, equivalent to more than 193 million shares traded.

Regarding transaction prices, the strongest price increase was the CMS stock code
of CMH Vietnam Group Joint Stock Company with the closing price in September
increasing by 78.67% (equivalent to 11,800 VND/share) reaching 26,800
VND/share compared to the end of the month. Previously, ranked second was HCT
stock of Hai Phong Cement Trading-Service-Transportation Joint Stock Company

14
with an increase of 55.56% (equivalent to 4,000 VND/share) reaching 11,200
VND/share.

Next is KDM stock of GCL Group Joint Stock Company with an increase of
51.49% (equivalent to 6,900 VND/share) reaching 20,300 VND/share; Next is HJS
stock of Nam Mu Hydropower Joint Stock Company with an increase of 43.94%
(equivalent to 14,500 VND/share) reaching 47,500 VND/share.

Foreign investors returned to a net purchase of more than 356 billion VND in
September, of which the total value of buying transactions reached more than 778
billion VND and the value of selling reached more than 422 billion VND.

Among them, the stock most purchased by foreign investors is HUT stock of Tasco
Joint Stock Company with a proportion of 18.2%, equivalent to 8.7 million shares,
followed by IDC stock of IDICO Corporation - Joint Stock Company with a
proportion of 7.9% of foreign investors' trading volume, equivalent to more than
3.8 million shares.

The shares sold the most by foreign investors were SHS shares of Saigon-Hanoi
Securities Joint Stock Company with more than 5.9 million shares transferred,
accounting for 12.3% of investors' trading volume. foreign investors, followed by
TNG shares of TNG Investment and Trading Joint Stock Company with more than
2.2 million shares, equivalent to 4.6% of the trading volume of foreign investors.
Proprietary trading activities of shares listed on HNX of member securities
companies in September had a transaction value of more than 1,714 billion VND
(accounting for 3.9% of the entire market), of which this block bought a net of The
value reached 62.3 billion VND.

In September, the HNX listed market had 5 additional listed businesses with more
than 64.3 million shares.

At the end of September, the HNX listed market had 330 stock codes with a listed
value of 149.3 trillion VND. Market capitalization at the last trading session of
September reached 310.6 trillion VND, up 1.6% compared to the end of last
month.

Overall, in the third quarter of 2023, the average trading volume reached 116
million shares/session, the average transaction value reached 2,071 billion
VND/session, an increase of 50.8% in trading volume and 33.3% in transaction
value compared to the same period in 2022.
15
2. Analysis of Hoa Sen Joint stock company

a, Overview of Hoa Sen Group:

Hoa Sen Group Joint Stock Company, or Hoa Sen Group, is one of the leading
conglomerates in Vietnam in the field of steel production and steel-related
products. The company has achieved numerous notable accomplishments and has
established a significant presence in the steel production and construction material
industry.

Business Sectors: Hoa Sen Group primarily operates in the field of steel
production and steel-related products, including galvanized steel sheets, steel
pipes, roofing sheets, and various value-added processed products.

Scale and Market Presence: Hoa Sen Group is a large-scale company with an
extensive production and distribution network throughout the country. They also
export their products to numerous international markets.

Achievements: Hoa Sen Group has received several prestigious awards and
recognitions, including the Second-class Labor Order and being featured in the list
of top companies in Vietnam, such as the Top 10 Outstanding Vietnamese Brands
and Top 10 Reputable Building Material Companies.

Competitive Strategy: Hoa Sen Group employs various competitive strategies,

including competitive pricing, product diversification, quality and efficiency
improvement, investment in research and development, market expansion, strong
brand building, and risk management.

b, History of Formation and Development:

2001-2007: Hoa Sen Group was established and experienced significant growth
and an expansion of production activities. They invested in advanced infrastructure
and technology to enhance production efficiency and product quality. The
conglomerate also diversified its product portfolio by manufacturing and trading
various steel and steel-related products.

2008-2015: Hoa Sen Group continued to expand its production scale and increased
its exports to international markets. They built a strong reputation for exporting
steel products and steel-related construction materials. In 2008, Hoa Sen Group's

16
shares were listed on the Ho Chi Minh City Stock Exchange with the stock symbol
HSG (57,038,500 shares).

National Brand for three product lines: steel sheets, galvanized pipes, and plastic
pipes by Hoa Sen. They received numerous prestigious awards, such as being
among the Top 10 Outstanding Socially Responsible Enterprises, the Third-class
Labor Order, and recognition as the Best-Managed Company in Asia in 2014.

2016 - Present: The company continues to develop and innovate, implementing

competitive strategies to strengthen its position in the steel industry. Hoa Sen
Group has achieved several significant awards and recognitions, especially in the
areas of branding and reputation.

c. Investment Sector:
Hoa Sen Group's investment activities primarily pertain to the steel production and
steel-related products industry. Here are some of the key operations and sectors
that Hoa Sen Group has engaged in:

Steel Manufacturing and Trading: Hoa Sen Group engages in the production and
supply of steel products such as galvanized steel, chrome-coated galvanized steel,
steel pipes, and other related products. The company has made investments in
state-of-the-art steel manufacturing facilities to cater to domestic and international
demand.

Production and Trading of Steel-Related Products: Apart from steel production,

Hoa Sen Group is also involved in the sector of manufacturing and trading steel-
processed products, including roofing sheets, corrugated steel, pipes, and related
accessories.

Export: Hoa Sen Group exports its products to numerous international markets and
has established a strong reputation in exporting steel products and related items.

Infrastructure Investment: The company has undertaken infrastructure investment

projects such as seaports, industrial infrastructure facilities, and industrial park
development projects to create favorable conditions for production and export.

Technology Development and Research: Hoa Sen Group has invested in research
and technology development to enhance products and manufacturing processes.
d. Subsidiary Companies:

17
Name of Business Sectors: Location Registered Ownership
company Capital Stake in
(Billion HSG
VND)
Hoa Sen Steel Cold-rolled steel Binh 280 100%
One Member production, mechanical Duong
Company processing, metal
Limited treatment, and coating
(HSSC)
Hoa Sen Plastics Manufacturing and Ba Ria - 300 99,95%
Joint Stock trading of construction Vung Tau
Company material
(HSN)
Hoa Sen Phu My Hot-dip galvanized steel Ba Ria - 250 100%
One Member pipe production Vung Tau
Limited
Liabilities
Company
(HSPM)
Hoa Sen Binh Manufacturing and Binh Dinh 105 100%
Dinh Sole trading of construction
Member Limited materials, including
Company steel pipes and
(HSBD) galvanized steel pipes.
Hoa Sen Nhon Production of Binh Dinh 770 100%
Hoi – Binh Dinh galvanized steel roofing
One Member sheets, aluminum-zinc
Limited Liability alloy-coated steel, zinc-
Company coated and coated with
(HSNH) various other alloy
types;
Hoa Sen Ha Production of Ha Nam 200 100%
Nam One galvanized steel pipes
Member Limited and slit steel coils.

18
Liabilities
Company
(HSHN)
Hoa Sen Nghe Production of Nghe An 1100 100%
An One Member galvanized steel roofing
Limited sheets, aluminum-zinc
Liabilities alloy-coated steel, zinc-
Company coated and coated with
(HSNA) various other alloy
types, and cold-rolled
steel coil production
Hoa Sen Yen Manufacturing of steel Yen Bai 50 100%
Bai Building products such as black
Materials One steel pipes and
Member Limited galvanized steel
Liabilities pipes/aluminum-zinc
Company alloy-coated steel
(HSYB-LTD) pipes...

e. Company Achievements:
• Second-class Labor Order
• Top 10 Outstanding Vietnamese Brands
• Top 10 Reputable Building Material Companies
• Top 50 Best Listed Companies in 2022
• Top 500 Largest Private Enterprises in Vietnam
• The largest private enterprise in Vietnam
• Major Taxpayer Compliant with Customs Laws
• National Quality Gold Award 2019
• National Vietnamese Brand
f. Competitive Strategy of the Company:

1. Competitive Pricing: Hoa Sen Group may apply a competitive pricing

strategy to attract customers. This includes offering products and services at
competitive prices to compete with industry peers.

19
 2. Product Diversification: The conglomerate can expand its product
portfolio to meet diverse market demands. This may involve manufacturing
and supplying various steel and steel-related products.

3. Quality and Efficiency Improvement: The company can focus on

enhancing product quality and production efficiency to provide high-value
products to customers and improve competitiveness.

4. Investment in Research and Development: The company can invest in

research and technology development to enhance manufacturing processes,
create new products, and improve production efficiency.

Market Expansion: Expanding the export market can be a vital part of Hoa
Sen Group's competitive strategy. This can help the company overcome
domestic market constraints and explore new opportunities abroad.

5. Strong Brand Building: Establishing a strong and reputable brand

within the industry is a significant factor for effective competition.

6. Risk Management: The conglomerate can apply risk management

strategies to cope with the business environment, such as fluctuations in raw
material prices or regulatory changes.

g. SWOT Analysis Model:

SWOT stands for Strengths (S), Weaknesses (W), Opportunities (O), and Threats
(T), and it is used to assess the internal and external business environment of a
company. Below is the SWOT model for Hoa Sen Corporation:

1. Strengths (S):
 Large scale: Hoa Sen Group is one of the leading steel production and
export conglomerates in Vietnam.
 Modern infrastructure: The company has advanced manufacturing and
transportation infrastructure, enhancing production capacity and providing
high-quality products.
 Product diversity:offering various steel products, including coils, sheets,
pipes, and value-added processed products.

2. Weaknesses (W):

20
  Raw material dependence: Hoa Sen Group relies on importing major raw
materials like iron ore and titanium ore, making it susceptible to global price
fluctuations and supply disruptions.
 Financial capability: Some aspects of the company's financial situation
may pose challenges, including foreign debt and the need for careful
financial management.
 Intense competition: The steel market is highly competitive, with the
presence of numerous domestic and international competitors.

3. Opportunities (O):
 Enhanced Exports: Hoa Sen Group has opportunities to expand its export
markets, especially in regional and global markets.
 Product Development: Diversify and expand its product line to include
more value-added processed steel products.
 Growth in Construction and Industry: Increased demand for steel
products in the construction and industrial sectors presents growth
opportunities.

4. Threats (T):
 Raw Material Price Volatility: Fluctuations in iron ore and other raw
material prices can significantly impact profitability.
 Regulatory and Policy Changes: Changes in trade regulations and
environmental policies can affect the company's production and export
activities.
 Competition from Competitors: Fierce competition from steel industry
rivals can pose a significant threat.

3. Analysis of the HSG Stock Trading Process

After researching, referencing, and analyzing based on the knowledge we have
learned, our group had decided to invest in HSG stock (Hoa Sen Group).

Date 20/09/2023 02/10/2023 03/10/2023

Closing price 23.15 20.1 18.7
Change +/- 0.65% 0.50% -6.97%

21
Observing HSG stock prices from the beginning of September shows that the stock
price has been uptrend. The peak was the closing price on Sep 20th, which was 23
with a price fluctuation of (+5.50%). Between Sep 20th and Oct 2nd, the price
dropped to 20.1. Our group made the decision to purchase 8.35 shares on the
morning of Oct 3rd at a price of 19.55. The closing price on that day was 18.7 with
a price fluctuation of (-6.97%).

22
Since the start of investment, HSG stock has been a strong downtrend trend, with
continuous price fluctuations. The lowest price was on Oct 26th, with a closing
price of 16.6, price fluctuation of (-6.74%). However, from Oct 27th, our group
noticed a slight uptrend in HSG stock price. Therefore, our group decided to sell
on Nov 1st to cut losses and manage risk during the investment period.

The profit at the end of the investment = Amount received upon selling - Amount
deducted upon purchase
= 141,595 - 163,485
= 21,890 (a loss of 13.39%)

23
IV. Final settlement of account

V. Assessment of the group's investment outcomes

Our group's fundamental and technical analysis processes have not been
thorough, meticulous, and have many shortcomings due to incomplete
deductive thinking and lack of experience in stock investment. These are
direct reasons leading to the group's ineffective decisions.
Another reason for the group's ineffective investment is the impact of
economic market fluctuations on businesses:
The stock market over the past nearly 10 months has been affected by many
macroeconomic fluctuations both domestically and globally. The context of
heightened political tension and high inflation has forced many economies to
tighten their monetary policies, causing the USD to appreciate, which has put
pressure on the exchange rates of most countries. With high openness, the
Vietnamese economy is not immune to these impacts. Many of Vietnam's trading
partners experienced slow growth, even falling into recession, leading to a serious
decline in imports and exports, as well as a slowdown in production activities.

Specifically for the steel industry:

24
• According to statistics from KIS Vietnam Securities Company, the total
revenue of 24 listed steel companies in the second quarter of 2023 decreased by
27.7% compared to the same period last year and increased by only 0.3%
compared to the first quarter of 2023, while the total post-tax profit (PAT) of the
parent company in the second quarter of 2023 remained flat compared to the first
quarter.
• Although the gross profit margin improved (from 5.5% to 7.4%) as the
pressure of inventory costs disappeared and input costs remained low, half of the
listed companies still incurred losses in the second quarter of 2023.
• The third quarter of 2023 will be a challenging period for steel production
companies as weak market demand due to the rainy season and declining prices
will impact profitability, even though input costs are stable.
• Hoa Sen Group (HSG) reported a net profit of just over 14 billion VND in
the third quarter of 2023 (the company's financial year runs from October 1 to
September 30), a significant decrease from the second quarter of 2023 when it
reported a profit of 251 billion VND. The reason for this is the sharp decrease in
sales and financial revenues. For the cumulative 9 months, the company still
incurred a net loss of 410 billion VND.

25
 Conclusion

Through the process of stock investment in the HSG stock code, it has truly
provided our group with valuable experience in stock market investment. After all,
investment involves bearing the risk of losses. Following the philosophy of
investor Warren Buffett, 'The most important investment you can make is in
yourself.' In the market, people tend to be obsessed with seeking investment
opportunities, often overlooking the opportunities for learning and knowledge
enhancement. The stock market is a 'buy-sell risk' market, so risk in the stock
market is inevitable, and we can only mitigate the risk for each investment decision
by improving our own capabilities. Hence, our article on stock investment by our
group comprises the investment process, the results of less effective business
operations, with a crucial focus on identifying the reasons and the lessons learned
by the group.

References
1. Hoa Sen Joint stock company
https://finance.vietstock.vn/HSG-ctcp-tap-doan-hoa-sen.htm
2. Vietnam’s current economic situation
https://www.gso.gov.vn/du-lieu-va-so-lieu-thong-ke/2023/09/bao-cao-tinh-hinh-
kinh-te-xa-hoi-quy-iii-va-9-thang-nam-2023/
3. Overview of Hoa Sen Group and history of formation and development
https://hoasenjobs.com/trang-chu/trang-chu.35a515b1/vi
4. Introduce VPS company and reasons for choosing to open account
https://nududo.com/co-nen-mo-tai-khoan-chung-khoan-vps-hay-khong/
5. Securities market at the time of investment
https://nhandan.vn/hnx-thang-9-nha-dau-tu-nuoc-ngoai-mua-rong-356-ty-dong-
post775849.html
6. Business update report 14/8/2023 – HSX: HSG
https://www.bsc.com.vn/Report/ReportFile/4519315
7. Securities: ups and downs and expectation 2023

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https://dantri.com.vn/kinh-doanh/chung-khoan-thang-tram-va-ky-vong-nam-2023-
20231028054622850.htm
8. Transaction price history of HSG
https://s.cafef.vn/lich-su-giao-dich-hsg-1.chn
9. Price list of VPS
https://banggia.vps.com.vn/chung-khoan/HOSE

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