2014 2015

net sale 3,763,246,697,233 3,102,704,319,115

financial revenue and other revenue
fiancial revenue 1,731,516,419 569,932,877
other revenue 4,954,836,709 951,458,369
total sales and revenue 3,104,225,710,361
interest expense 103,216,277,625 3,104,225,710,361
current asset 1,395,237,010,656 982,213,215,489
AVERAGE CURRENT ASSETS 1,188,725,113,073
tangible fixd asset 1,384,366,350,888 1,384,591,227,161
intangible fixed assets 28,019,135,751 28,019,135,751
historical asset 1,412,385,486,639 1,412,610,362,912
AVERGE FIXED ASSETS 1,412,497,924,776
total assets 2,269,799,210,129 1,748,384,437,427
AVERAGE TOTALE ASSETSS 2,009,091,823,778
equity 655,161,472,941 2,009,091,823,778
AVERAGE EQUITY 1,332,126,648,360
profit before tax 23,703,350,651 -51,897,877,590
PROFIT AFTER TAX -51,897,877,590

COMMON STOCK OUTST 49,220,262 49,220,262

PREFFERED STOCK 0

AVERAGE COMON STOCK OUTSTANDING 49,220,262

CFO 58,811,517,594
margin
CFO from operatung to nét 1.89%
income -113.32%
CFO per share 1,195
CFO
Cash
net return
provided
income oncash
to assets
by 2.93%
operating activities
provided by operating 542,040,085,299
income -9.57%
market price 6,393

DISAGGREGATING CURRENT ASSETS TURNOVER

 0.2851729179
DO SALES 1.56
DO CURRENT ASSETS -1.27
0.28517292
impact factors to ROE
ROS, A Turnover, asset/ equity
ROA, equity/ asset
ROA, Debt/ equity
interest coverage ratio
impact factors to ROE
2014
ROS
ASSETS TURNOVER
ASSET/ QUITY
TAX
ROE
 2016 2017
3,739,537,345,200 6,105,119,145,291

1,444,667,117 10,021,535,641
16,860,282,506 233,819,702
3,757,842,294,823 6,115,374,500,634
3,757,242,294,823 6,115,374,500,634
2,057,144,267,489 2,389,547,833,365
1,519,678,741,489 2,223,346,050,427
1,381,334,133,638 1,381,751,966,737
10,169,135,751 10,169,135,751
1,391,503,269,389 1,391,921,102,488
1,402,056,816,151 1,391,712,185,939
2,703,368,150,119 2,990,310,833,013
2,225,876,293,773 2,846,839,491,566
2,225,876,293,773 2,846,839,491,566
2,117,484,058,776 2,536,357,892,670
75,113,847,507 55,266,723,019
72,850,112,074 43,494,792,624

49,220,262 73,830,393

0 0

49,220,262 57,865,788
-177,089,894,652 28,279,221,065
-4.71% 0.46%
-243.09% 65.02%
-3,598 489
-7.96% 0.99%
-606,786,738,572 266,839,158,028
-12.01% 16.30%
15,939 32,803

ETS TURNOVER
 2015 2016 2017
-0.0167184614 0.0199885577 0.00903734
1.5450890167 1.6882529839 2.14812761
1.5081837949 1.0511891622 1.12241238
0.8 0.8 0.8
-0.0311669331 0.0283785268 0.01743184
 2015 2016 2017
asset use efficiency 1.55 1.69 2.15
fixed asset turnover 2.20 2.67 4.39
current asset turnover 2.61 2.46 2.75
average days of current asset t 137.92518 146.2973348 131.1038424
ROS -0.017 0.020 0.009
ROA -0.026 0.034 0.019
RE 1.519 1.722 2.168

ROE -0.038959 0.03440409 0.017148523

ROA -0.025832 0.033745742 0.019413361

EPS -1,054 1,480 752
P/E -6.06316 10.76898489 43.64134944
BV 40,818.39 45,222.76 38,559.18 COI LẠI

24,610,131

thuyết minh mục 30

DISAGGREGATING ROA -0.014332

DO THAY ĐỔI ROS -0.018488
DO THAY ĐỔI ASSET TURNOV 0.004156
-0.014332

EPS
PE
BV
INDICATOR CASH FLOW
IMPACT FACTORS TO ROE
COI LẠI
STT CHỈ TIÊU 2015
1 NVCSH bình quân 629,212,534,146
2 Vốn sử dụng bình quân 629,212,534,146
3 Tài sản bình quân 2,009,091,823,778
4 Lợi nhuận trước thuế -51,897,877,590
5 Chi phí lãi vay 78,334,830,355
6 Lợi nhuận sau thuế -51,897,877,590
7 ROA -2.58%
8 Tỷ suất sinh lời của VCSH (6 -8.25%
9 Khả năng thanh toán lãi vay 0.3374865643
10 Khả năng sinh lời của vốn -20.70%
11 Thu nhập của mỗi cổ phiếu -1,054
12 Hệ số giá trên thu nhập -6.06316
 2016 2017
639,688,651,388 881,578,766,412
639,688,651,388 881,578,766,412
2,225,876,293,773 2,846,839,491,566
75,113,847,507 55,266,723,019
54,731,481,774 81,781,025,836
72,850,112,074 43,494,792,624
3.37% 1.94%
11.39% 4.93%
2.3724066127 1.6757890654
3.19% -3.01%
1,480 752
10.769 43.6413494
 CHỈ TIÊU NĂM 2015 NĂM 2016 NĂM 2017
DT thuần hđ bán hàng 3,102,704,319,115 3,739,537,345,200 6,105,119,145,291
DT thuần, DT hd TC, TN 3,104,225,710,361 3,757,842,294,823 6,115,374,500,634 0
tổng TS bình quân 2,009,091,823,778 2,225,876,293,773 2,846,839,491,566
Nguyên giá TSCĐ bình q 1,412,497,924,776 1,402,056,816,151 1,391,712,185,939
vốn lưu động bình quân 629,212,534,146 639,688,651,388 881,578,766,412
hiệu quả sử dụng TS 1.5450890167 1.6882529839 2.1481276056
hiệu quả sử dụng TSCĐ 2.1966080549 2.6671796051 4.3867684763
hiệu quả sử dụng VLĐ 4.9310910873 5.8458710141 6.9252111982
số ngày 1 vòng quay VL 73.0061549523 61.5819266507 51.9839741626

DT thuần hđ bán hàng 3,102,704,319,115 3,739,537,345,200 6,105,119,145,291

dt hđ tài chính 569,932,877 1,444,667,117 10,021,535,641
thu nhập khác 951,458,369 16,860,282,506 233,819,702

CHỈ TIÊU NĂM 2015 NĂM 2016 NĂM 2017

net sale 3,102,704,319,115 3,739,537,345,200 6,105,119,145,291
total sales and revenu 3,104,225,710,361 3,757,842,294,823 6,115,374,500,634
AVERAGE TOTALE 2,009,091,823,778 2,225,876,293,773 2,846,839,491,566
AVERGE FIXED ASS 1,412,497,924,776 1,402,056,816,151 1,391,712,185,939
AVERAGE EQUITY 629,212,534,146 639,688,651,388 881,578,766,412
assets turnover 1.5450890167 1.6882529839 2.1481276056
fixed assets turnover 2.1966080549 2.6671796051 4.3867684763
equity turnover 4.9310910873 5.8458710141 6.9252111982
average days of current 73.0061549523 61.5819266507 51.9839741626
0
STT 2015 2016
1 Average total assets 2,009,091,823,778 2,225,876,293,773
2 Average shareholder 629,212,534,146 639,688,651,388
3 Shareholder equity/ 603,263,595,351 676,113,707,425
4 Total common outst 49,220,262 49,220,262
5 Weight average num 49,220,262 49,220,262
6 Total sale and reven 3,104,225,710,361 3,757,842,294,823
7 Interest expense 78,334,830,355 54,731,481,774
8 Profit before tax -51,897,877,590 75,113,847,507
9 Profit after tax -51,897,877,590 72,850,112,074
10 Market price per sh 6,393 15,939

(9)/ (6) ROS -1.67% 1.94%

(9)/ (1) ROA -2.58% 3.27%

((8)+(7))/ (1) RE 1.32% 5.83%

(9)/ (2) ROE -0.0824806799 0.1138837025

(9)/ (5) EPS -1,054 1,480
(10)/ EPS P/E -6.06 10.77
(3) /(4) BV 12,256 13,736

2015 2016
1 average total assets 2,009,091,823,778 2,225,876,293,773
 2 Average fixed asset 1,412,497,924,776 1,402,056,816,151
3 Average current ass 1,188,725,113,073 1,519,678,741,489
4 Net sales 3,102,704,319,115 3,739,537,345,200
5 Totale net sales and 3,104,225,710,361 3,757,842,294,823
(5)/ (1) Asset use efficiency 1.55 1.69
(4)/ (2) Fixed asset use effi 2.20 2.67
(4)/ (3) Current asset turnov 2.61 2.46

INDICATOR CASH FLOW

2015 2016
total net sale
revenue 3,104,225,710,361 3,757,842,294,823
net income -51,897,877,590 72,850,112,074

average
number of
common share of
outstanding 49,220,262 49,220,262
CFO 58,811,517,594 -177,089,894,652
CFO margin 1.89% -4.71%
CFO from
operatung to nét
income -113.32% -243.09%
CFO per share 1,194.86 -3,597.91
CFO return on
assets 0.03 -0.08

Cash provided by
operating activities 542,040,085,299 -606,786,738,572
net income to cash
provided by
operating income -0.10 -0.12
 2017 Disaggregating ROA
2,846,839,491,566 2017
881,578,766,412 ROA 1.53%
1,087,043,825,399 H ROA -1.75%
73,830,393 ROS 0.71%
57,865,788 AT 2.15
6,115,374,500,634 H ROS -0.021
81,781,025,836 H AT 0.003
55,266,723,019 -1.75%
43,494,792,624
32,803 impact factor to ROE

0.71% (ROS, Asset turnover ROS

1.53% BẢNG 1 Asset turnover
Average asset/
4.81% average equity

0.0493373868 ROE
752 ROA, Self-fund ratio
43.64 BẢNG 2 ROA
14,724 Self fund ratio

ROE

2017
2,846,839,491,566 Disaggregating current asset turnover 2017
1,391,712,185,939 2017
2,223,346,050,427 Current asset turnover 2.75
6,105,119,145,291 Average days of current 131
6,115,374,500,634 Current asseT saving -261,712,424,558
2.15 HCA 0.29
4.39 Net Sales 1.56
2.75 Current Asset -1.27
0.29

2017

6,115,374,500,634
43,494,792,624

61525327.5
28,279,221,065
0.46%

65.02%
459.64

0.01

266,839,158,028
0.16
A
2016
3.27%

1.94%
1.69

2015 2016 2017

ROA,
Debt to
-0.0167 0.01939 0.00711 equity BẢNG 3
1.54509 1.68825 2.14813 2015 2016 2017

ROA

Average
debt to
average
equity
2015 2016 2017 ROE

Interest
coverag
e ratio BẢNG 4
2015 2016 2017
ICR
rnover 2017 RE
 Average
debt/
average
2016 equity
2.46 ROA
146
-261,712,424,558
0.29
1.56
-1.27
0.29