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Flash News PC1 – BUY
31/08/2023 - 3:43:08 CHPC1 GROUP JOINT STOCK COMPANY (HOSE: PC1)
PC1’s 6M2023 post-audited NPAT has changed from loss to profit. The number itself are not significant in terms of scale. However, this information can help PC1 return to the margin list of securities companies.
PC1’s 6T2023 NPAT has transfered from loss to profit after audit. Accordingly, the company recorded an profit of 2 bn VND instead of the previous loss of 11 bn VND. According to Company’s Board of Manager (BOM), the underlying reason was from changing the cost of Mining Rights (Nickel Mine) from 19 bn VND to 11 bn VND.
This event does not affect our assessment of PC1’s long-term potential. We reiterate our forecast for PC1 at 30,442 VND per share (+16.2% upside potential).
However, in the short-term this can be seen as having a positive effect on stock prices, as of reporting losses in Q2/2023 and accumulated 6M/2023 may cause PC1 to be included in the warning / minimization / margin restriction list of many securities companies.
View details in full report below.
