After a series of ceiling increases for 5 consecutive sessions from September 5 to September 9, 2022, Thanh Tri Garment Joint Stock Company (UPCOM: TTG) has issued a document explaining this issue.
Accordingly, TTG said that the reason for the ceiling increase in stock prices is that during the above period, information appeared that TTG's parent company, haprosimex Group Joint Stock Company, withdrew capital from the company. In addition, there is also market supply and demand that the company cannot control.
TTG affirmed that it did not participate in affecting stock prices in the market. All unusual information has been published according to regulations.
In the stock market, if these 5 ceiling increases are included, TTG has had 12 consecutive green candles, starting from August 24, 2022. This increase is equivalent to 76% to VND 8,000/share.
It is known that May Thanh Tri is a distribution channel of the mid-high-end market and has been authorized to produce products such as Nike, Adidas, Grow Faith, Under Amour for export to Japan, the US, Europe, Canada, Korea, etc.
The company listed on UPCOM in 2010 with an offering price of VND 10,500/share. The current charter capital is 20 billion VND. It is worth mentioning that the volume of listed stocks is only 2 million units. The shareholder structure is quite dense, with haprosimex Group Joint Stock Company alone accounting for 53% of the capital.
On the accounting balance sheet, TTG's assets have been depleted over the years. In 2021, it was 9.43 billion VND, down 36% compared to 2020 and down 63% compared to 2018. The same thing happened with equity. Meanwhile, total debt has remained around 4 billion VND over the past 4 years. TTG recorded a negative P/E of 3.56%.
