Hoa Sen Group Joint Stock Company HSG: Hoa Sen Group Joint Stock Company, also known as Hoa Sen Group in English, has a certificate of enterprise registration under company code 37003813
Trang 1TRUONG DAI HOC KINH TE QUOC DAN
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FINANCIAL DATA ANALYSIS REPORT
GROUP MEMBER:
Full name ID
Ha Noi, 2022
Trang 2FINANCIAL DATA ANALYSIS REPORT
1 General introduction:
Our team has collected data and information on the following firms based on data collected
on the VN-Index, daily trading volume of stocks, and stock prices of companies to perform a correlation evaluation and remark on the indexes:
1.1 Hoa Sen Group Joint Stock Company (HSG):
Hoa Sen Group Joint Stock Company, also known as Hoa Sen Group in English, has a certificate of enterprise registration under company code 3700381324, which was initially
established on August 8, 2001, and is now registered for the second time 39 17 August 2022 According to Decision No 117/QD-SGDHCM November 8, 2008, the business began with a charter capital of VND 4,983,826,960,000, and its shares were listed on the Ho Chi Minh
City Stock Exchange with the stock code HSG
On the HOSE market, the following information is available: manufacturing industrial group;
listing date: 05/12/2008; listed shares: 598,054,986
Hoa Sen Group is the country's leading roofing company, with the Hoa Sen brand, considered
a strong and friendly brand, as well as a retail system that is distributed evenly across the country and has over 10,000 customers Traditional goods have given Hoa Sen Group an advantage in diversifying products, developing dozens of other products successfully at low cost, and increasing revenue and profit many times in a short period of time
1.2, PetroVietnam Technical Service Joint Stock Corporation (PVS):
The General Department of Industry and Trade amalgamated two entities on February 9,
1993, to establish an oil and gas technical service firm The Vietnam Oil and Gas Company provides geophysical and petroleum services
From 1993 to the present, PTSC has consistently maintained its position as the top unit in
Vietnam's oil and gas industry In 1993, 1994, 1997, 1999, 2001, and 2002, PTSC acquired
titles from the Vietnam Oil and Gas Corporation (now the Vietnam National Oil and Gas Group), the Government, and the State The Vietnam General Confederation of Labor, and Government, granted the PTSC the emulation flag for being the top unit in the oil and gas industry
Shipping agency and maritime brokerage services; ship supply services; services supporting geophysical and engineering survey activities, management services for oil tankers
Mr Phan Thanh Tung, Chairman of the Board of Directors, is a prominent member of the
firm The company currently operates under the business registration number 0100150577,
Trang 3which was updated for the fourth time on October 28, 2009, and has a charter capital of 1,988,034,310,000 VND 2009: A total of 25 million shares were successfully sold to
strategic investors, raising charter capital to 2,000 billion dongs The total annual revenue is 5,640.4 billion VND
1.3 Vietnam Prosperity Joint Stock Commercial Bank (VPB):
VP Bank, also known as Vietnam Prosperity Joint Stock Commercial Bank (VPBank)
Established on August 12, 1993, is one of the oldest joint stock commercial banks in Vietnam
today This is a private bank operating under the joint-stock model By the end of 2020, VPBank's total operating income will reach VND 39,000 billion VPBank's pre-tax profit in
2020 reached VND 13,019 billion It was ranked 4th among banks in Vietnam
After nearly 30 years of operation, VPBank now has more than 228 branches/transaction
offices with a staff of almost 20,000 employees Of these, there are 63 branches in Hanoi, 45 branches in Ho Chi Minh City, 9 branches in Hai Phong, and other localities
Achievements and Awards:
increase of 11.1% compared to the end of 2019 Along with that, many people knew what VPBank was and used its services
- VPBank has become a Vietnamese private investment bank in the list of 500 banks with the highest brand value globally
- In 2022, VPBank is the first and largest sponsor to bring the FIFA World Cup 2022 copyright to Vietnam according to the official announcement from VTV The amount that this unit sponsor is 100 billion VND
1.4 Binh Minh Plastic Joint Stock Company (BMP):
The firm was founded in 1977 as Binh Minh Plastics Public-Private Partnership Factory The corporation went through equitization in 2004 The primary line of business is industrial plastics and building materials, with factory system 1 producing injection molding goods and workshop 2 at Song Than Industrial Park producing plastic pipes
The company's distribution system includes product stores, individual consumers, and bidding works, with the retail system acting as the principal consumption channel The company currently has a system that covers nearly the entire Central region and is expanding
to the north with the construction of a new factory in Pho Noi Industrial Park—Hung Yen
The company is worth VND 4,273,141,026 billion in total market capitalization and VND 52.2 million in current value On July 11, 2006, the company was listed on the stock exchange, with an initial listing volume of 10,718,000 The treasury stock level of the
company is currently 0 with an outstanding volume of 81,259,014
2 Empirical report:
2.1 Unit-Root Test:
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15181 Prop”
jest chee! vahoes 3
5% level 2865178
0w level +
“MacKinnon (1996) one-sided pwawes
Augenected Oncery-Futer Test Equator
Depeez2ant Vamable DỊ:
Me#c2 Least
‘Date 110922 Tưng 1430
#amele (ajusieđ 1/04/2019 12/31/2021
observabens: 750
Vanstie Comfort = Sid Error +8tabsbc Prop
GEDONGCUM-t) 0000197 0091900 9 09318
DIGHOONGCUA-1)) 01219594 0934329 3429213 009003
c 17804942 2277133 0
-squared 0.017342 Mean cependent var 2243047
*4431e9 R-s⁄2/are2 1914731 SD dependertvar 300 3884
SE Aregression 140) Anam info crtenion 1423700
Sum squared resid Scmwar crterion
Log lwešhood +933567% »lannse-Oenn crlev 1424412
F-stansac Durbey-Watson stat 2006119
Prom -stabstic) 9001453
28,009
24000
Constant Lag Length 0 (Automatic - based on SIC_ masiag=19)
l@tisbc Prob*
est critical yates: 1 leze| 3
5% teva! -2885173 10% level 2568760
“MacKinnon (1996) one-sided p-values
Dichey-Futer Test Equation Vanadie O(VN_INDEX) Memod Least Date: 110922 Time 14.43 Sample 1/03/2019 12/33/2021 included observations: 751 afer Vatable Coemcen Std Ero tStaistic Prob VH_#IDEX(-1) 0000869 00022%1%ồ 039501 06097
c 40110200 2 2421072 0.045850 09637 0.000199 Mean đependesdvar 0.807630 +0001136 SO dependent var
SE of regression 1238296 Akaike info criterion 7873341
‘Sum squared resi¢ 1148666 Schwarz criterion 7809940
440 Hannan-Quinn crter 7979083 F-statistc 0.148931 Dưbin-Wa#son stat 3901018 Prob(F-statistic) 0!
VN Index
.000
800 600
Trang 5*HSG:
Mull Hynothesis: STOCK_PRICE bas a unil root
Exosenous Constant
Lag Length 0 (Automatic - based.on SIC maxiag=19)
‘Test cotcal xatues: 1% level -3 430831 Test cotical values, 1% level -3 438831
“Mactinnan (1996) one-sided p-values “Mactannan (1996) one-suded p-values
Augmented Dickey-Fullet Test Equateo Auamented Dicker Fuller Test Equanao
Denendeo4 Vadabke D(STOCK_PRICE) D£pendeo! Vadabie D(VNINDEX)
Method Least Squares Method Least Squares
Included opsepvafiop3 751 a8er adtu3‡men3 Included ohsenvahons 751 afer adiustments
Yanable €oefiodjemd S4 Cược tSlatisic «= Bro XanaÐke Coeflodem Sid Emo tStatisic = Brob STOCK_PRICE(-1) -0 002596 0.002097 1.238736 02158 'VNINOEX(-1) -0 002357 0.002359 -0999240 0.3180
0.632320 Akaike info caitesion 1923818 SE ofcegression 1490923 Akaike info calerion 8.244497 299.4718 Schwarz celtecion 1.936125 ‘Sum squated cesid 1664915 Schwarz critenon 8 256805
7203936 Hanoan-Quinn cater 1.928560 -3093 809 Hannan-Quinn cater 8.249239
1534466 Dushin.WVatson stat 1.875568 F-3iAtisttc 996480 Dugblo.VVAtxon sial 1.875288
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Exogenous Constant
Lag Length: 0 (Automatic - basedon SIC, maxiag=19)
| Lag Length 0 (Automatic - based on SIC, maxiag=19)
‘State — Prob ——ẾỚ wen
Ý
ek 1 5 bevel -2 866173 os values t% 3 {
S90 5% level 2.805173
nỉ = 10% level -2 568780
“Mức #2nnon: (1999) c4-@000 p-v4 x04
Method (east Squares, Date 1612/22 Tere 1617 Dependent Vanatie O(PVS) Uethod: Least Squares
Semete (adjusted): 2 162 Included observations 751 ater adjustments Date 11/1222 Time 1618 Sample (adjusted) 2 752
Variable Cocticeet Sid Emo Staite Prob Tư nên
WIEDEN) 0.00864 00022W% 2072468 0038 Veriste Contticiert Sid Error {Statistic Prob
` K——— _ liêi PVS(-1) 6006996 0003821 -1784178 00748
3 S) Soi -chi-tinay6ultÀ 21 akugl2LÀG bi
.—
-
ren se va WO : —
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*BMP:
2.2 Trend Test:
*VPB:
The stock price
Ls Lommens | i) Lapoure J
EX Nee a le roe
==== —= =—=== —=.=¬.— NN-= omen tron rane hạt engn 0 - 9 264 99C masng< 191
- Ï e41 các AI sa®ks œ4 on -Serniw
crecel values = 9% krượt 419411
30% fewer “3.130170 AaCR ELD |1908} ane-se0e Prado
"Mackineion (1996) one-sided p-vatues
Oroney Putie: Test Equamn
v Ex fie)
Dependent Variable: DIGIADONGCUA) #arn@99 (2029907 1403/29) 10 13/21/2021
Mettođ Leas†Squares lfu2es?olssesvvdsaeve ZS1
Date 1107722 Time 19:05 (adjusted) 04/2018 12/31/2021 ¬" C09 Stew tate Mr obsenatons: 750 alee aqustments ety 00x) enwxs ero 031523
ĐA 2413227 00132422 04163 Varabee Coemaert ‘Ste Error +-Stab sec Prop Omran) 0009149 8 Gentes) =f ennont
GIADONGCUAI-1 sô 0.003049 -150%6 11 tf-masset mn Gemendert ve p3?”
¢ 090481 2301495 0473787 06350 Sumequweavena © Syeaela Schmmaomston, =F e007
@TRENOC 1027/2019") 0184833 0.095901 1.927338 00443 mg leo ex# 4® Mere tước zPpraao0=
# atatxa9C 1449499 Caottán-vNdson stag + toc224 Mean dependent var 224.047 ProteF -staterte) ames
R-squared 0.018272 SO cependent var 300 3584
SE of regression ›7 6006 Akaike inéo criterion 1423470
*HSG:
Sample: 10/01/2019 9/30/2022 Sample: 10/01/2019 9/30/2022
Included ohsenvations 752 Included observations 752
Variable, Coefficient Sid Emor Statistic Prob Variable Gosficient Std Emor ‘Statistic Piob,
c 831.3416 10.25463 81 06990 0.0000 Cc 5.750770 0.591208 9.727149 0.0000
@TREND 0.841657 0.023643 35 59911 0.0000 @TREND 0.034235 0.001363 25.11645 0.0000
0.628215 Mean deoeodent var 1147384 R-squaced 0.456851 Mean depeodent vat 18.60614
Adwated R-squared 0627720 S.D dependent var 230.6730 Adiusled R-squated 0456127 S.D đeoepdent vai 11.0020
S.E of regression 140.7446 Akaike info criterion 1273443 S.E of earession 8.114324 Akaike info coterian 7.027795 Sum sauated tesid 14856787 Schwarz criterion 1274672 Sum squared resid 4938169 Schwarz criteon 7.040089
~4786.145 Seen ee 12.73916 Log likelihood -2640.451 Hạn0an:Quinn crfter 7.032532
1267296 Qushin-VVatson 0.011244 F-stalistic 630.8358 Qurhin-Watson stat 0.006084 BrobiF-statistic) 0.000000 BrobiF-sialistic) 0.000000
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Unit Root Test on VNINDEX_
Exogenous: Constant, Linear Trend
Lag Length 0 (Automatic - based on SIC_ maxdag=19)
Null Hypothesis: PVS has a uni root Exogenous Constant, Linear Trend
Lag Length © (Automatic - based on SIC, maxtag= 19)
tStabstc — Prob*
tStatistic — PYob* Test cntcal values 5% level 10% level 1% level -3970319 -3 130166 3.415811 TƯ HT HN fest critical values: 5% level 1% level tate _A2Q 76, _ i ~3.970319 -3415811
10% level „3 130165
*MacKemnon (1996) one.ssled p-values
Augmented Dickey-Futer Test Equation
Dependert Variable D(VNINDEX) Augmented Dickey-Fuller Test Equation
Date: 11/12/22 Time 1628 Method: Least Squares
Sample (adjusted): 2 7! Date: 11/12/22 Tene: 1628
included observations 75! after adjustments Sample (adjusted)
included observations 751 after adjustments
Vanable Coefficient Std Error t-Statiste Prob
*BMP:
2.3 Test autocorrelation for stock’s excess return:
*VPB:
Correlogram of VN INDEX Correlogram of the stock price
_ ———) dị 2 0.969 0.011 1485.9 0.000 '——— 4 2 0993 -0033 14962 0000
BE l: 7 0961 0015 50996 0000 h 7 0977 0.077 51663 0.000
—=— ¢ 8 0.955 -0.062 57641 0000 | rt 8 0.974 -0.064 0.000
'— thị 10 0943 0001 7130.0 0.000 n1 10 0997 0012 73220 0000 '—¬ Du 11 0937 0.006 79016 0000 at 141 0964 -0001 90324 0000
—=—9 là 12 0931 0007 6466.0 0.000 Lo, at 42 0.960 -0006 67389 0000
l=) Yu 14 0920 0.017 97744 0.000 4 44 0953 -0021 10139 0000
= lịt 15 0915 0.020 10418 0000 4 15 0.950 -0) 10633 0.000
'—=-) tk 17 0904 0019 11696 0000 ° 1? 0942 0028 12207 0000
—= - 18 0899 0.028 12310 0000 4 18 0.938 -0.030 12687 0.000
— == # ‹ 2€ 0990 25 0884 0.024 16521 0.000 004 16839 0009 '—= == } 4 24 0913 0.015 16866 9000 25 0.906 -0.036 17509 0000
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b3 = a
VN_®Ex
Date 11/1322 Time 01.02
1001/2010
IOCbJd®4 CÈ4@CxAt©CA 752
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Date: 11/12/22 Time 1528
Sample 1
included observations 752
Date: 11/1222 Tene 18.00
I Sample 1752
Aahoccrrelation P'wtial Correlation AC PAC QSI# Prob AC PAC QStat Prob ' ! 1 0994 0994 74696 0000 1 0993 0993 74405 0.000 ' Ni 2 0999 0011 14858 0.000 2 0985 0.003 14782 0.000 ' ' 3 0993.0020 22174 0000 3 0978 0016 2202 000 ' " 4 0977 0005 29413 0000 4 0972 0006 29145 0000 ' tụ 5 0972 0006 39679 0000 5 0965 0009 36253 0000 ' th 6 0966 0002 42672 0000 8 0957 0065 43219 0000 ' " 7 0961 0015 5090 0œ 7 0950 0014 5009 000 ' ụ 8 0955 0062 57641 0000 8 0944 0049 56874 0000 ' th 9 0949 0004 0.000 9 0937 0.098 63579 0000 ' tt 10 0943 0001 71300 0000 10 0931 0048 70196 0000
" thị 11 0937 0 78016 0.000 11 0923 -00%4 12 0000
" th 12 0931 0007 946460 0000 12 0915 0020 83127 0000
4 " 12 0928 0027 91237 0000 13 0908 0031 89448 0.000
‘ 4 14 0920 0017 97744 0.000 1⁄4 0901 0 94491 0000 ' ” 15 0915 0020 10418 0.000 16 0894 0015 10163 9000
‘ 4 18 0.909 0031 11055 0.000 16 0887 0 000 ' ' 17 0904 0018 11686 0000 17 0681 0041 11399 0000 : " 18 0899 0028 12310 0000 19 0876 0.028 11980 0000
4 là 19 0895 0 2930 0000 19 0870 0002 1 000 , L 20 0891 0044 13444 0000 x 20 0995 0029 13146 0.000 21 08680 0.008 13720 0.000
*BMP:
Trang 103 Conclusion and comments:
3.1.1 Test autocorrelation for stock’s excess return:
Hypothesis test:
Ho: AC1=AC2= =AC12=0, no autocorrelation
H1: There is at least one non-zero AC coefficient with autocorrelation
From the Correlogram test on Eview, we see that, at the 5% level of significance, no date series has an autocorrelation phenomenon
Thus, it reinforces the fact that the series is stationary, and the efficiency of the OLS estimator
3.1.2 Test stock’s excess return for stationary (by Augmented Dickey-Fuller Unit Root Test):
Test for Unit Root in level/ include in test equation is intercepted/ Lag length by SIC fiis BIC) criterion
Test at 5% level
Hypothesis test for stationary
HO: series is not stationary / series has a unit root
At a 5% significant level,
VN index: P-value: 0.0386 < 0.05 -> reject HO
PVS: P-value=0.0748 > 0.05 -> not rejcet HO
Test critical values: All 3 levels are less than 0.05
With a significant level of 5% these series are stationary Therefore, the probability that the data have a constant mean and variance over time is high We are confident that using these series of data, the past and present trends of the risk-beta coefficient can be used to forecast the future #
3.1.3 Test stock’s excess return for trend stationery (by Augmented Dickey-Fuller Unit Root Test-ADF):
The number of lag is 1, which auto by SIC fiis BIC ) criterion with ADF test
Hypothesis test:
HO: B1=0, the coefficient is statistically insignificant
H1: B1z0, the coefficient is statistically significant
VN-index: P-value=0.8605 > 0.05 -> not reject HO
PVS: P-value=0.9504 > 0.05 -> not reject HO
6 Not trend stationary at a 5% significant level
3.2 Reg recession results with individual company:
CAPM model R,=R; + B[Rm — Rel
6 Regression general model: ER, = + *ER,, +
With