CMG technology stock has just surpassed its peak: foreign fund Pyn Elite Fund is diligently "acquiring goods"

 Since the beginning of April, this stock has increased more than 18%, climbing to a new peak at 47,300 VND/share, market capitalization also set a record of approximately 9,000 billion VND.

Technology stocks are the focus of investment globally and Vietnam is no exception. Although there are not many options, most technology stocks on the Vietnamese stock market are very noteworthy. In addition to the FPT growth machine, CMC stock of CMC Technology Group (CMC Corp) also impressed when it just surpassed its historical peak.

Since the beginning of April, CMG shares have increased more than 18%, thereby climbing to 47,300 VND/share, the highest since listing (based on adjusted price). Market capitalization also set a record of approximately VND 9,000 billion. CMG shares surpassed their peak, capitalization increased sharply, bringing great joy to CMC shareholders.

Currently, CMC Corp has 4 major shareholders, all of which are organizations including Samsung SDS Asia Pacific, MVI Investment, Pyn Elite Fund and My Linh Investment. Previously, this technology group also had two "famous" major shareholders: Agribank and Gleximco. 

However, Agribank has divested all capital since 2022 and Gleximco also continuously sold and was no longer a major shareholder at the end of March, right before CMG shares increased sharply.

Among CMC Corp's shareholders, Samsung SDS is the most notable name. Cooperation started in 2016, but in May 2019, members specializing in IT and Logistics solutions of Samsung and CMC Corp signed a strategic investment agreement to strengthen comprehensive cooperation in all fields of the world. strengths of both sides, especially in the potential field of information technology.

Samsung SDS officially poured investment capital into CMC Corp in August 2019 after purchasing 5 million shares on the floor through an agreement with an average price of 40,000 VND/share and 25 million shares issued privately with price 34,000 VND/share. The total value of the deal at that time was about 1,050 billion VND.

After the transaction, Samsung SDS became the largest shareholder in CMC Corp with an ownership ratio of 30% and is still maintained until now. It is estimated that the investment of the "giant" from Korea currently has a market value of about 2,700 billion VND, which is 2.7 times higher than the time of capital injection, corresponding to an average profit of 22%/year. year, not including dividends.

Besides Samsung SDS, Pyn Elite Fund - a foreign fund with a scale of 800 million EUR is also very "passionate" about CMC Corp. CMG shares were even among the top 10 largest investments of the fund at one point. 

Pyn Elite Fund once introduced CMC Corp as a business operating in the fields of telecommunications, software outsourcing and investing in private universities. After 5 years of operation, the number of employees in the software outsourcing sector has increased 5 times with good profitability.

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In fact, since Samsung SDS invested capital, CMC Corp's business situation has improved significantly. Profit after tax has continuously increased each year since 2019 and reached VND 355 billion in the 2022-23 fiscal year (from April 1, 2022 to March 31, 2023), an increase of nearly 12% compared to the previous year and is the highest level since the operation.

For the 2023-24 fiscal year, CMC Corp sets ambitious goals with net revenue of 9,249 billion VND and profit after tax of 428 billion VND, both increased compared to the results of the previous year. If the proposed plan is completed, the group will continue to break profit records. This expectation is well-founded when net profit in the first 9 months of the year reached 330 billion VND, an increase of 8% and completing 77% of the plan.

During the period 2023-2025, CMC Corp aims to become a global enterprise with billion USD in revenue. The Group pursues its orientation as the leading consultant and provider of digital transformation services in Vietnam, contributing to shaping the cloud computing and SaaS services market and being among the top in the Cyber Security market. In the international market, CMC Corp aims to be a leading information technology service provider in Asia and beyond, expanding to other countries in the US and Europe.

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