With many positive expectations, technology stocks have risen strongly and become the hottest keyword in the market today. While a series of major pillars in the industry such as FPT, FOX, VGI, CMG accelerated to historical peaks, TTN shares of Vietnam Technology and Communications Corporation (VNTT, code TTN) are also not out of the price increase race.
This technology stock has just marked its second session of skyrocketing to the ceiling price of VND16,700/share (closing session on June 5) to climb to the highest price in the past 24 months. TTN's dizzying increase appeared since the beginning of March, the increase recorded more than 100% after only three months. Although the price has increased rapidly, this stock is still "sold out" with the remaining ceiling price purchase of up to nearly 900 thousand units in the session on June 5.
Although the scale of this business is still very modest compared to the big names in the same industry, the stock's rising momentum has also doubled TTN's market capitalization in just a few months to 613 billion VND.
Standing on the shoulders of two "giants" Becamex IDC and VNPT
According to the website, Vietnam Technology and Communications JSC was established in 2008 with capital contributions from three main founding shareholders, including Becamex IDC, VNPT and BIDV. In the current shareholder structure, Becamex is the largest shareholder with 48.59% of ownership. VNPT ranks second with 5.45% of ownership. Following is Technical Infrastructure Development JSC with 4.63% of TTN shares.
Starting with the basic task of providing telecommunications and IT (ICT) services to investors in Becamex industrial parks, VNTT has now become a unit that meets the comprehensive needs in 4 main areas: Telecommunications, ICT Solutions, Data Centers and Electromechanics of enterprises in Becamex Industrial Parks and VSIP Industrial Parks nationwide.
In particular, VNTT has deployed a synchronous optical cable infrastructure on a technology platform with outstanding services such as MyTV and J Wifi. In addition, the eDatacenter in Binh Duong province, invested and operated by VNTT in 2013, is one of the four largest data centers in the country, providing ICT services such as server rental, data backup, Cloud & CDN according to international standards.
In 2019, VNTT attracted attention when it cooperated with NTT East Telecommunication Group (Japan) to build an Internet network with Japanese quality to improve Internet bandwidth services, develop cloud Wifi network services, and contribute to the development of information technology infrastructure in the new smart city in Binh Duong.
Currently, VNTT is in the process of developing and deploying smart management solutions in industrial parks invested by Becamex across the country, typically the management software of the IOC Binh Duong Smart Operations Center, IOC Becamex,...
Stable business thanks to special advantages
Not only does VNTT have a large customer base from Becamex, it also has the advantage of operating mainly in Binh Duong province - the leading investment attraction in Vietnam. Thanks to its many competitive advantages, VNTT has a fairly stable business foundation with revenue of over VND300 billion and after-tax profit of over VND30 billion per year.
In 2023, the company recorded revenue of VND 363 billion, down 6% compared to the same period. In the revenue structure, revenue from telecommunications activities still plays a key role with 49%, telecommunications infrastructure electronics ranked behind with 33% and Datacenter services 11%. Profit after tax recorded at VND 33 billion, unchanged from the previous year.
Closing the first quarter of 2024, the company recorded a profit after tax of VND 13 billion, an increase of VND 1,261,300 over the same period thanks to the telecommunications service and data center service segments both maintaining good growth rates. For the whole year of 2024, the company plans to achieve revenue of VND 365 billion and profit after tax of VND 39 billion.
With a core foundation of multi-industry technology (Telecommunications - Information Technology - MEP), VNTT is aiming to become a leading company in the field of national digital transformation and bring its solutions and services to markets such as Japan, Singapore and Korea.
The company identified 2024 as a pivotal year in the development orientation of a new type of ecosystem towards promoting the development of smart infrastructure and digital transformation to create growth momentum for the next 3 years (2025-2028). Accordingly, VNTT will research and deploy 5G and solutions for smart industrial parks in Binh Duong, expand telecommunications services to the outskirts of current areas, and maximize revenue from existing customer groups in the Becamex "ecosystem".
In particular, in the next 5 years, the company aims to sign management, operation and maintenance contracts for all electromechanical works/projects in the BCM/VSIP ecosystem to replace the shrinking construction sector.
Source: CafeF
