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An enterprise once considered the "technical brain" of Vietnam's oil and gas industry, participating in billion-dollar projects for more than 26 years, why is the stock price currently only 2,600 VND and placed on warning and restricted transactions?
Where PVE Used To Stand In Vietnam's Oil And Gas Industry
PV Engineering Petroleum Design Consulting Corporation is the leading oil and gas technical consulting unit in Vietnam, part of the national oil and gas industry ecosystem.
During more than 26 years of operation, PVE has participated in a series of strategic projects from upstream to downstream.
Areas of strength
Role Field
Oil and gas field development Technical design and consulting
Gas pipeline Project design and management
EPC gas processing plant and consulting
Power plant Technical design
Oil and gas planning Strategic consulting
Oil and Gas Storage Design and Supervision
Not many businesses in Vietnam possess consulting capabilities spanning almost the entire oil and gas value chain like PVE.
Journey From Peak To Bottom Market Price
There was a time when PVE shares were trading around zone 124,000 VND/share.
Currently, the price is only about 2,600 VND/share.
Market price fluctuations
Stock Price Period
Historical peak of 124,000 VND
Currently 2,600 VND
Reduction of about 97.9%
If an investor buys 100 million VND at the peak and holds it until now, the investment value is only about 2.1 million VND.
This is one of the sharpest declines ever recorded on the Vietnamese stock market for a company with a long history in the energy industry.
What Happened to PVE
PVE's decline did not stem from a single event but was the result of many difficult years.
The oil and gas market declines
After a period of prolonged decline in oil prices, many large oil and gas projects were delayed or delayed.
This directly affects the work resources of design consulting units like PVE.
Competition is increasingly fierce
PVE must compete with many international consulting corporations with long-term experience in large-scale EPC and energy projects.
Revenue and profits decline
When the number of new projects decreases, consulting revenue is also significantly affected.
Technical enterprises often have huge costs for high-quality human resources, causing financial pressure to increase sharply when the marketweakened.
Investor psychology
When business results decline over a long period of time, the market often reacts much stronger than the actual decline of the business.
That's why many stocks that were once stars fell into a prolonged downward spiral.
PVE Still Possesses Special Values
Although the market price is very low, PVE is still a brand with a notable position in the petroleum engineering industry.
The remaining advantages
Evaluation Factor
Experience More than 26 years
Highly specialized technical personnel
Project profile Many key projects
Industry relations Associated with the oil and gas ecosystem
Brand Widely known
These are intangible assets that are not easy to build in a short time.
Opportunity or Valuable Lesson
Looking at the price of 2,600 VND, many people may think that PVE is "cheap".
However, in investing, low price does not mean high value.
What matters is business recovery, cash flow, new projects and oil and gas industry prospects in the coming years.
A stock can fall 98% and then continue to fall further. But there are also businesses that were once forgotten and then revived strongly when the industry cycle returned.
Summary
PVE is a typical example of etchingrigors of the stock market. From the position of an intellectual symbol of Vietnam's oil and gas with a series of key national projects, the business has gone through a period of prolonged decline, causing the market price to fall from 124,000 VND to only about 2,600 VND.
In your opinion, is PVE in the most attractive valuation zone in history or is this a warning to investors who only look at low stock prices and ignore the quality of the business?
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