Gemadept's GMD stock (HM:GMD) with a short-term story has increased sharply in 9 sessions and continues to break historical peaks. Opening the morning session on November 13, Gemadept's GMD stock (HOSE) increased by 0.9% to 69,500 VND/share. Temporarily, this continues to be a new peak in the company's listing history.
After 9 consecutive increasing sessions since the beginning of November, the leading stock in the shipping industry increased by 17.8% and surpassed the old peak at the end of September.
In a recent update report, Yuanta Securities (FSC) positively assessed GMD shares with short-term growth momentum revolving around the story of transferring Nam Hai Port.
It is known that Gemadept's Board of Directors has approved the policy of transferring all capital at Nam Hai Port (original investment price is 424 billion VND).
In terms of business, earlier this year, Gemadept also transferred another port cluster in Hai Phong, Nam Hai Dinh Vu, and collected more than VND1,800 billion. Three investors, including Viconship (HM:VSC) (VCS (HN:VCS)), Doan Huy Trading and Investment Co., Ltd. and Huy Hoang Import-Export Metal Trading Co., Ltd., participated in the transfer of this port.
Thus, if the divestment from Nam Hai Port is completed, Gemadept will only operate one port in the North, Nam Dinh Vu port.
Returning to Gemadpet, the port business segment has always been the largest source of revenue for this enterprise and has been continuously growing over the years. In 2022, the company's revenue from this segment reached more than 3,000 billion VND, with a gross profit margin of 1,200 billion VND.
In the third quarter of 2023, GMD recorded net revenue of VND998 billion - unchanged compared to the same period, of which VND781 billion came from port operations. The company reported a profit after tax of VND338.5 billion - an increase of VND351 billion.
In the first 9 months, Gemadept achieved VND2,812 billion in revenue and net profit increased by VND1,611 billion YoY to VND2,107 billion (thanks to the profit from the transfer of VND84,661 billion of capital at Nam Hai Dinh Vu port in the second quarter). This result helped the company exceed the annual profit target by VND1,541 billion.
GMD shares have now broken back into the medium-term uptrend channel (MA200) with the leading role of large cash flows. At the current price, investors should prioritize holding positions; limit new purchases because the short-term transfer story has been absorbed into the price and the stock has begun to appear more top-drawing candlestick patterns.
