Chứng khoán | Áp thuế chống bán phá giá thép nhập khẩu. HPG ảnh hưởng như thế nào?

Nga Lee Official

23 Aug 202404:48

Summary

TLDRThe video script discusses the global steel price drop and its impact on Hoa Phat Group (HPG), a Vietnamese steel company. Despite the bankruptcy of a Chinese steel conglomerate affecting the market, HPG remains unaffected due to its strategic production and inventory management. The script highlights HPG's positive financial performance in the first half of 2024, with increased revenue and profit, and its ability to adapt to market demands without resorting to price reductions. The company is also positioned to benefit from protective trade policies against steel dumping, ensuring its market share and financial stability for the rest of the year.

Takeaways

📉 Global steel prices have significantly dropped, affecting the steel market worldwide.
🏭 A Chinese steel conglomerate has gone bankrupt, which may have indirect impacts on Hoa Phat Group (HPG).
💹 Despite the global price drop, HPG's domestic market share and supply might still be influenced by cheaper steel imports from China.
🛑 Vietnam's domestic steel consumption is substantial, with Hoa Phat and Formosa being major suppliers, indicating a potential market share competition.
📈 HPG's financial performance in the first half of 2024 shows a positive trend with increased revenue and profit margins compared to the previous year.
💼 HPG's Q2 2024 revenue nearly reached 40,000 billion VND, with a pre-tax profit of 3,320 billion VND, reflecting a 34% revenue increase and a 2.3 times profit increase year-over-year.
📊 HPG's cumulative six-month revenue for the first half of 2024 was over 71,000 billion VND, with a post-tax profit of over 6,000 billion VND, contributing 7,400 billion VND to the national budget.
📦 HPG's inventory level has increased significantly, showing flexibility in managing stock levels in response to market demands.
🔄 HPG's strategy involves adjusting production and inventory levels to align with market realities, avoiding oversupply and maintaining competitiveness.
🛑 International trade policies, such as anti-dumping taxes, are being implemented by various countries, including Vietnam, to protect domestic steel markets.
🚀 HPG is expected to maintain or even improve its revenue and profit performance in 2024, despite potential market pressures and global economic factors.

Q & A

What is the current situation of the global steel market?
-The global steel market is experiencing a significant drop in prices.
How does the bankruptcy of a Chinese steel company affect HBG?
-The bankruptcy of a Chinese steel company may have an impact on HBG, but the specifics are not detailed in the transcript.
What does the decrease in global steel prices indicate about the market?
-The decrease in global steel prices suggests an oversupply in various markets, including Vietnam.
What is the annual domestic steel consumption in Vietnam?
-The annual domestic steel consumption in Vietnam is estimated to be between 12 to 13 million tons.
Which companies are the main suppliers of steel in Vietnam's domestic market?
-Hoa Phat and Formosa are the main suppliers of steel in Vietnam's domestic market.
What is the impact of the influx of cheap steel from China on the Vietnamese market?
-The influx of cheap steel from China may lead to a preference for these products by buyers, potentially affecting the market share of local suppliers like Hoa Phat.
What was the business performance of Hoa Phat in the first half of 2024?
-Hoa Phat showed positive business performance in the first half of 2024, with an increase in revenue and a significant rise in net profit compared to the same period in the previous year.
How has Hoa Phat managed its inventory levels in relation to market demand?
-Hoa Phat has shown flexibility in managing its inventory levels, adjusting them according to the actual market demand to avoid oversupply.
What is Hoa Phat's strategy regarding steel production and exports?
-Hoa Phat follows a demand-driven production strategy and does not resort to price reductions to boost exports. Instead, it may even increase prices to strengthen its export market presence.
How do recent trade policies in various countries affect Hoa Phat's steel exports?
-Recent trade policies, such as anti-dumping taxes in countries like the EU, the US, India, Canada, and Thailand, are designed to protect domestic markets, which could indirectly benefit Hoa Phat by safeguarding its market share.
What is the projected impact on Hoa Phat's business for the second half of 2024?
-Despite potential challenges, the analysis suggests that Hoa Phat's business for the second half of 2024 will not be significantly affected and will likely outperform the previous year.

Outlines

00:00

📉 Impact of Global Steel Prices and Chinese Steel Bankruptcy on HBG

The global steel price drop and the bankruptcy of a Chinese steel conglomerate are discussed in relation to their potential impact on HBG. Despite these challenges, HBG seems to be managing well due to its competitive pricing strategy. The script mentions an oversupply in the global market, particularly in Vietnam, where domestic consumption is around 12 to 13 million tons annually. Hoa Phat and Formosa supply a significant portion of this demand, and the influx of cheaper steel from China could affect HBG's market share. However, the script also highlights that HBG has been proactive in adjusting its production and inventory to align with market demands, which could mitigate the impact of these global trends.

Mindmap

Keywords

💡Steel prices

The term 'Steel prices' refers to the cost at which steel is bought or sold in the market. The script mentions a significant drop in global steel prices, which is a critical factor affecting the steel industry and related businesses. For example, the transcript discusses how the decrease in steel prices worldwide is impacting various steel enterprises, including those in China and Vietnam.

💡Hòa Phát Group (HPG)

Hòa Phát Group, or HPG, is a Vietnamese steel company mentioned in the transcript. It is highlighted as an example of a business that might be affected by the global steel market conditions. The script talks about HPG's revenue and profit situation, indicating its importance in the context of the video's theme.

💡Bankruptcy

The concept of 'Bankruptcy' is mentioned in the context of a Chinese steel company going bankrupt, which could potentially impact the global steel market and companies like HPG. The term is used to describe the financial failure of a company that is unable to pay its outstanding debts.

💡Oversupply

Oversupply refers to a situation where the quantity of a product available in the market exceeds the demand for it. The script indicates that the global steel market is facing an oversupply issue, leading to a decrease in steel prices and affecting the profitability of the steel industry.

💡Steel exports

Steel exports are the shipping of steel products from one country to another. The transcript discusses how the oversupply of steel in China might lead to increased exports of cheap steel, which can affect the global market and domestic industries in other countries.

💡Revenue and profit

Revenue and profit are financial terms that describe the income and earnings of a company, respectively. The script provides specific figures for HPG's revenue and after-tax profit, demonstrating the company's financial performance and its potential impact due to changes in the global steel market.

💡Market competition

Market competition refers to the rivalry among businesses within the same industry to gain market share. The transcript mentions that the decrease in global steel prices makes it a challenging issue for businesses, indicating the competitive pressures within the steel industry.

💡Domestic market

The domestic market is the economic sphere within a country where goods and services are produced and consumed. The script refers to the domestic market of Vietnam, indicating that the oversupply in the Chinese steel market could affect the domestic consumption of steel in other countries, including Vietnam.

💡Steel production

Steel production is the process of manufacturing steel using various methods. The transcript mentions the flexibility of Hòa Phát Group in adjusting its steel production and inventory levels according to market demands, which is a key strategy for the company to manage market risks.

💡Inventory management

Inventory management involves the supervision of stock levels to ensure that products are available when needed and to avoid overstock or stockouts. The script discusses how Hòa Phát Group has been managing its inventory effectively, which is a positive aspect of the company's operations amidst global market fluctuations.

Highlights

Global steel prices have significantly decreased, impacting Chinese steel conglomerates.

A Chinese steel conglomerate has filed for bankruptcy, potentially affecting HBG.

The decrease in global steel prices suggests an oversupply in various markets.

Vietnam's domestic steel consumption is estimated to be between 12 to 13 million tons annually.

Hoa Phat and Pha Mosa are the main suppliers of Vietnam's domestic steel demand.

Chinese steel is being sold at lower prices, affecting the market share of Vietnamese steel producers.

The influx of cheap Chinese steel into Vietnam has surpassed the growth threshold of the market.

Hoa Phat's revenue and profit in the first half of 2024 have shown significant growth.

Hoa Phat's total revenue in the first half of 2024 is nearly 40,000 billion VND, with a pre-tax profit of 3,320 billion VND.

Hoa Phat's inventory has increased significantly, showing flexibility in managing market demands.

Hoa Phat's export strategy does not involve lowering prices but rather focuses on market demand.

Hoa Phat's production capacity is flexible and aligns with market demand, avoiding overproduction.

Several countries, including the EU, US, India, Canada, and Thailand, are imposing anti-dumping duties on imported steel.

Vietnam is considering similar measures to protect its domestic market from cheap imported steel.

Hoa Phat's market share and profitability are expected to remain stable despite global market pressures.

The analysis concludes that Hoa Phat's performance in 2024 is likely to be better than in 2023.

The transcript provides a comprehensive analysis of Hoa Phat's financial performance and market strategy.