{"id":15460,"date":"2022-08-16T15:41:36","date_gmt":"2022-08-16T08:41:36","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&#038;p=15460"},"modified":"2022-08-16T15:41:36","modified_gmt":"2022-08-16T08:41:36","slug":"gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/","title":{"rendered":"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022"},"content":{"rendered":"<p style=\"text-align: center\"><strong><span style=\"font-family: arial, helvetica, sans-serif\">Property market is tightening<\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"font-family: arial, helvetica, sans-serif\">Investment thesis<\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Vinhomes has largest land bank in Vietnam, which are in strategic locations. Vinhomes is the highest trusted housing brand and has widest profit margin among other developers. Strong financial condition with strong brand name allows VHM to raise capital in both Vietnam and overseas.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In Q2 2022, VHM\u2019s revenue was 4.5 trillion VND (-84% y-o-y) while gross profit was 1.39 trillion VND (-90% y-o-y). NPAT was 622 billion VND (-94% y-o-y).<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Vinhomes Ocean Park 2, Co Loa and Wonder Park will be the next project to be launched later this year.<\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"font-family: arial, helvetica, sans-serif\">Risk<\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Cyclicity and credit tightening are burden on growth.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 High housing price will be the most significant risk when tightening cycle start. \u00a0<\/span><\/p>\n","protected":false},"author":12,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-15460","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"<title>GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022 - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022 - GTJA\" \/>\n<meta property=\"og:description\" content=\"Property market is tightening Investment thesis \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Vinhomes has largest land bank in Vietnam, which are in strategic locations. Vinhomes is the highest trusted housing brand and has widest profit margin among other developers. Strong financial condition with strong brand name allows VHM to raise capital in both Vietnam and overseas. \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In Q2 2022, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/\" \/>\n<meta property=\"og:site_name\" content=\"GTJA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gtjai.com.vn\/#website\",\"url\":\"https:\/\/gtjai.com.vn\/\",\"name\":\"GTJA\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gtjai.com.vn\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/#webpage\",\"url\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/\",\"name\":\"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022 - GTJA\",\"isPartOf\":{\"@id\":\"https:\/\/gtjai.com.vn\/#website\"},\"datePublished\":\"2022-08-16T08:41:36+00:00\",\"dateModified\":\"2022-08-16T08:41:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/gtjai.com.vn\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022\"}]}]}<\/script>","yoast_head_json":{"title":"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022 - GTJA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/","og_locale":"en_US","og_type":"article","og_title":"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022 - GTJA","og_description":"Property market is tightening Investment thesis \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Vinhomes has largest land bank in Vietnam, which are in strategic locations. Vinhomes is the highest trusted housing brand and has widest profit margin among other developers. Strong financial condition with strong brand name allows VHM to raise capital in both Vietnam and overseas. \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In Q2 2022, [&hellip;]","og_url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/","og_site_name":"GTJA","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/gtjai.com.vn\/#website","url":"https:\/\/gtjai.com.vn\/","name":"GTJA","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gtjai.com.vn\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/#webpage","url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/","name":"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022 - GTJA","isPartOf":{"@id":"https:\/\/gtjai.com.vn\/#website"},"datePublished":"2022-08-16T08:41:36+00:00","dateModified":"2022-08-16T08:41:36+00:00","breadcrumb":{"@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vhm-equity-report_neutral_property-market-is-tightening-_aug2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gtjai.com.vn\/en\/"},{"@type":"ListItem","position":2,"name":"GTJASVN_VHM Equity Report_Neutral_Property market is tightening _Aug2022"}]}]}},"_links":{"self":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/15460\/"}],"collection":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/"}],"about":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/types\/research\/"}],"author":[{"embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/users\/12\/"}],"wp:attachment":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/media\/?parent=15460"}],"wp:term":[{"taxonomy":"cate_research","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/cate_research\/?post=15460"},{"taxonomy":"specialized","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/specialized\/?post=15460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}