{"id":2855,"date":"2026-04-07T00:29:14","date_gmt":"2026-04-06T17:29:14","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/07\/vnx-co-tuc-khung-130-loi-giai-cho-thanh-khoan-trang-hay-phep-thu-cho-thi-truong-chung\/"},"modified":"2026-04-07T00:29:14","modified_gmt":"2026-04-06T17:29:14","slug":"vnx-co-tuc-khung-130-loi-giai-cho-thanh-khoan-trang-hay-phep-thu-cho-thi-truong-chung","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/07\/vnx-co-tuc-khung-130-loi-giai-cho-thanh-khoan-trang-hay-phep-thu-cho-thi-truong-chung\/","title":{"rendered":"VNX “C\u1ed5 T\u1ee9c Kh\u1ee7ng” 130%: L\u1eddi Gi\u1ea3i Cho Thanh Kho\u1ea3n Tr\u1eafng Hay Ph\u00e9p Th\u1eed Cho Th\u1ecb Tr\u01b0\u1eddng Chung?"},"content":{"rendered":"
\n\"tin<\/p>\n

CTCP Qu\u1ea3ng c\u00e1o v\u00e0 H\u1ed9i ch\u1ee3 Th\u01b0\u01a1ng m\u1ea1i Vinexad (m\u00e3 VNX \u2013 UPCoM) \u0111ang t\u1ea1o s\u00f3ng tr\u00ean th\u1ecb tr\u01b0\u1eddng khi c\u00f4ng b\u1ed1 m\u1ee9c c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t l\u00ean t\u1edbi 130% cho n\u0103m 2025, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 13.000 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu. \u0110\u1ee3t chi tr\u1ea3 d\u1ef1 ki\u1ebfn v\u00e0o ng\u00e0y 14\/4 t\u1edbi \u0111\u00e2y s\u1ebd ng\u1ed1n g\u1ea7n 42 t\u1ef7 \u0111\u1ed3ng t\u1eeb doanh nghi\u1ec7p. \u0110i\u1ec1u \u0111\u00e1ng n\u00f3i, m\u1ee9c chi tr\u1ea3 n\u00e0y cao g\u1ea5p h\u01a1n 2 l\u1ea7n k\u1ebf ho\u1ea1ch ban \u0111\u1ea7u (60%), ph\u1ea3n \u00e1nh k\u1ebft qu\u1ea3 kinh doanh v\u01b0\u1ee3t b\u1eadc c\u1ee7a Vinexad trong n\u0103m 2025. Tuy nhi\u00ean, m\u1ed9t ngh\u1ecbch l\u00fd l\u1edbn \u0111\u1eb7t ra: d\u00f9 c\u1ed5 t\u1ee9c h\u1ea5p d\u1eabn \u0111\u1ebfn kh\u00f3 tin, c\u1ed5 phi\u1ebfu VNX l\u1ea1i g\u1ea7n nh\u01b0 “tr\u1eafng” thanh kho\u1ea3n tr\u00ean s\u00e0n UPCoM, \u0111\u1eb7t ra c\u00e2u h\u1ecfi v\u1ec1 \u0111\u1ecbnh gi\u00e1 v\u00e0 s\u1ee9c h\u00fat c\u1ee7a nh\u1eefng vi\u00ean ng\u1ecdc \u1ea9n gi\u1eefa th\u1ecb tr\u01b0\u1eddng chung<\/a>.<\/p>\n

C\u1ed5 t\u1ee9c “kh\u1ee7ng” t\u1eeb hi\u1ec7u qu\u1ea3 kinh doanh v\u01b0\u1ee3t tr\u1ed9i<\/h2>\n

C\u1ee5 th\u1ec3, k\u1ebft qu\u1ea3 kinh doanh n\u0103m 2025 c\u1ee7a Vinexad \u0111\u00e3 v\u01b0\u1ee3t xa k\u1ef3 v\u1ecdng. Doanh thu \u0111\u1ea1t 294 t\u1ef7 \u0111\u1ed3ng, t\u0103ng 17% so v\u1edbi k\u1ebf ho\u1ea1ch \u0111\u1ec1 ra. L\u1ee3i nhu\u1eadn sau thu\u1ebf c\u00f2n \u1ea5n t\u01b0\u1ee3ng h\u01a1n khi ch\u1ea1m m\u1ed1c g\u1ea7n 57 t\u1ef7 \u0111\u1ed3ng, v\u01b0\u1ee3t t\u1edbi 51% m\u1ee5c ti\u00eau ban \u0111\u1ea7u. Nh\u1eefng con s\u1ed1 n\u00e0y l\u00e0 minh ch\u1ee9ng r\u00f5 r\u00e0ng cho hi\u1ec7u su\u1ea5t ho\u1ea1t \u0111\u1ed9ng xu\u1ea5t s\u1eafc c\u1ee7a c\u00f4ng ty trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng c\u00f3 nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng.<\/p>\n

Vinexad kh\u00f4ng ph\u1ea3i l\u00e0 c\u00e1i t\u00ean xa l\u1ea1 v\u1edbi ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c h\u00e0o ph\u00f3ng. C\u00f4ng ty \u0111\u00e3 duy tr\u00ec truy\u1ec1n th\u1ed1ng chi tr\u1ea3 c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t \u1edf m\u1ee9c cao trong nhi\u1ec1u n\u0103m. N\u0103m 2022, c\u1ed5 \u0111\u00f4ng nh\u1eadn 6.000 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu (60%). Con s\u1ed1 n\u00e0y t\u0103ng v\u1ecdt l\u00ean 150% v\u00e0o n\u0103m 2023 v\u00e0 duy tr\u00ec \u1edf m\u1ee9c 120% v\u00e0o n\u0103m 2024. V\u1edbi m\u1ee9c 130% cho n\u0103m 2025, Vinexad ti\u1ebfp t\u1ee5c kh\u1eb3ng \u0111\u1ecbnh cam k\u1ebft chia s\u1ebb l\u1ee3i nhu\u1eadn m\u1ea1nh m\u1ebd v\u1edbi c\u1ed5 \u0111\u00f4ng.<\/p>\n

Ngh\u1ecbch l\u00fd “c\u1ed5 t\u1ee9c cao, thanh kho\u1ea3n th\u1ea5p”: B\u00e0i to\u00e1n cho nh\u00e0 \u0111\u1ea7u t\u01b0<\/h2>\n

\u0110i\u1ec3m \u0111\u00e1ng ch\u00fa \u00fd nh\u1ea5t trong c\u00e2u chuy\u1ec7n c\u1ee7a VNX ch\u00ednh l\u00e0 ngh\u1ecbch l\u00fd gi\u1eefa ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c h\u1ea5p d\u1eabn v\u00e0 th\u1ef1c tr\u1ea1ng thanh kho\u1ea3n b\u1ebft b\u00e1t c\u1ee7a c\u1ed5 phi\u1ebfu n\u00e0y. M\u1eb7c d\u00f9 th\u1ecb gi\u00e1 c\u1ed5 phi\u1ebfu tr\u00ean UPCoM v\u00e0o ng\u00e0y 6\/4 l\u00e0 13.000 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi m\u1ee9c c\u1ed5 t\u1ee9c s\u1eafp chi tr\u1ea3 cho n\u0103m 2025, nh\u01b0ng h\u1ea7u nh\u01b0 kh\u00f4ng c\u00f3 giao d\u1ecbch n\u00e0o \u0111\u01b0\u1ee3c ghi nh\u1eadn. V\u1edbi h\u01a1n 3,2 tri\u1ec7u c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh v\u00e0 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c\/th\u1ecb gi\u00e1 l\u00ean t\u1edbi 100% (13.000\u0111 c\u1ed5 t\u1ee9c \/ 13.000\u0111 th\u1ecb gi\u00e1), VNX l\u1ebd ra ph\u1ea3i l\u00e0 m\u1ed9t “ng\u00f4i sao s\u00e1ng” \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm l\u1ee3i nhu\u1eadn th\u1ee5 \u0111\u1ed9ng.<\/p>\n

T\u00ecnh tr\u1ea1ng “tr\u1eafng thanh kho\u1ea3n” n\u00e0y c\u00f3 th\u1ec3 xu\u1ea5t ph\u00e1t t\u1eeb nhi\u1ec1u nguy\u00ean nh\u00e2n: c\u01a1 c\u1ea5u c\u1ed5 \u0111\u00f4ng c\u00f4 \u0111\u1eb7c, l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu t\u1ef1 do chuy\u1ec3n nh\u01b0\u1ee3ng (free-float) th\u1ea5p, ho\u1eb7c do b\u1ea3n ch\u1ea5t c\u1ee7a s\u00e0n UPCoM n\u01a1i nhi\u1ec1u doanh nghi\u1ec7p c\u00f3 quy m\u00f4 nh\u1ecf v\u00e0 \u00edt \u0111\u01b0\u1ee3c ch\u00fa \u00fd h\u01a1n so v\u1edbi c\u00e1c s\u00e0n ni\u00eam y\u1ebft ch\u00ednh th\u1ee9c nh\u01b0 HoSE hay HNX. \u0110i\u1ec1u n\u00e0y \u0111\u1eb7t ra m\u1ed9t b\u00e0i to\u00e1n kh\u00f3 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0: l\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 ti\u1ebfp c\u1eadn v\u00e0 h\u01b0\u1edfng l\u1ee3i t\u1eeb m\u1ed9t doanh nghi\u1ec7p c\u00f3 n\u1ec1n t\u1ea3ng t\u1ed1t v\u00e0 ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c v\u01b0\u1ee3t tr\u1ed9i nh\u01b0ng l\u1ea1i thi\u1ebfu t\u00ednh thanh kho\u1ea3n tr\u1ea7m tr\u1ecdng?<\/p>\n

V\u1ecb th\u1ebf doanh nghi\u1ec7p v\u00e0 t\u1ea7m nh\u00ecn t\u01b0\u01a1ng lai<\/h2>\n

Vinexad, ti\u1ec1n th\u00e2n l\u00e0 doanh nghi\u1ec7p tr\u1ef1c thu\u1ed9c B\u1ed9 C\u00f4ng Th\u01b0\u01a1ng, \u0111\u01b0\u1ee3c th\u00e0nh l\u1eadp t\u1eeb n\u0103m 1975, \u0111\u00e3 \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng trong s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a ng\u00e0nh qu\u1ea3ng c\u00e1o \u2013 tri\u1ec3n l\u00e3m t\u1ea1i Vi\u1ec7t Nam. C\u00f4ng ty ho\u1ea1t \u0111\u1ed9ng trong c\u00e1c l\u0129nh v\u1ef1c qu\u1ea3ng c\u00e1o, truy\u1ec1n th\u00f4ng, t\u1ed5 ch\u1ee9c tri\u1ec3n l\u00e3m \u2013 h\u1ed9i ch\u1ee3 v\u00e0 x\u00fac ti\u1ebfn th\u01b0\u01a1ng m\u1ea1i qu\u1ed1c t\u1ebf, \u0111\u00f3ng vai tr\u00f2 k\u1ebft n\u1ed1i doanh nghi\u1ec7p trong v\u00e0 ngo\u00e0i n\u01b0\u1edbc. Sau khi B\u1ed9 C\u00f4ng Th\u01b0\u01a1ng tho\u00e1i v\u1ed1n, c\u01a1 c\u1ea5u c\u1ed5 \u0111\u00f4ng c\u1ee7a c\u00f4ng ty \u0111\u00e3 c\u00f3 s\u1ef1 thay \u0111\u1ed5i. Hi\u1ec7n t\u1ea1i, \u00f4ng Nguy\u1ec5n Kh\u1eafc Lu\u1eadn \u2013 Ch\u1ee7 t\u1ecbch H\u0110QT, l\u00e0 c\u1ed5 \u0111\u00f4ng l\u1edbn nh\u1ea5t v\u1edbi 13,27% v\u1ed1n \u0111i\u1ec1u l\u1ec7.<\/p>\n

T\u1ea1i \u0110H\u0110C\u0110 th\u01b0\u1eddng ni\u00ean 2026 di\u1ec5n ra v\u00e0o cu\u1ed1i th\u00e1ng 3 v\u1eeba qua, Vinexad \u0111\u00e3 th\u00f4ng qua k\u1ebf ho\u1ea1ch kinh doanh cho n\u0103m 2026 v\u1edbi m\u1ee5c ti\u00eau doanh thu 280 t\u1ef7 \u0111\u1ed3ng v\u00e0 l\u1ee3i nhu\u1eadn sau thu\u1ebf 48 t\u1ef7 \u0111\u1ed3ng. Nh\u1eefng con s\u1ed1 n\u00e0y l\u1ea7n l\u01b0\u1ee3t gi\u1ea3m 4% v\u00e0 16% so v\u1edbi th\u1ef1c hi\u1ec7n n\u0103m 2025, cho th\u1ea5y ban l\u00e3nh \u0111\u1ea1o \u0111ang th\u1eadn tr\u1ecdng h\u01a1n trong b\u1ed1i c\u1ea3nh kinh t\u1ebf v\u0129 m\u00f4 c\u00f3 th\u1ec3 \u0111\u1ed1i m\u1eb7t nhi\u1ec1u th\u00e1ch th\u1ee9c. T\u1ef7 l\u1ec7 c\u1ed5 t\u1ee9c d\u1ef1 ki\u1ebfn cho n\u0103m 2026 c\u0169ng gi\u1ea3m v\u1ec1 m\u1ee9c 80%.<\/p>\n

S\u1ef1 s\u1ee5t gi\u1ea3m trong k\u1ebf ho\u1ea1ch 2026 c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 khi\u1ebfn gi\u1edbi \u0111\u1ea7u t\u01b0 c\u00e2n nh\u1eafc, d\u00f9 hi\u1ec7n t\u1ea1i c\u00f4ng ty v\u1eabn \u0111ang “chi \u0111\u1eadm” cho c\u1ed5 \u0111\u00f4ng. \u0110\u00e2y l\u00e0 m\u1ed9t \u0111i\u1ec3n h\u00ecnh cho th\u1ea5y, ngay c\u1ea3 khi m\u1ed9t doanh nghi\u1ec7p c\u00f3 l\u1ecbch s\u1eed tr\u1ea3 c\u1ed5 t\u1ee9c \u1ea5n t\u01b0\u1ee3ng, tri\u1ec3n v\u1ecdng t\u01b0\u01a1ng lai v\u00e0 t\u00ednh thanh kho\u1ea3n v\u1eabn l\u00e0 nh\u1eefng y\u1ebfu t\u1ed1 then ch\u1ed1t \u0111\u1ecbnh h\u00ecnh gi\u00e1 tr\u1ecb v\u00e0 s\u1ee9c h\u00fat tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n.<\/p>\n

Bi\u00ean t\u1eadp: Ph\u1ed1 Wall (Theo ngu\u1ed3n g\u1ed1c)<\/i><\/div>\n","protected":false},"excerpt":{"rendered":"

CTCP Qu\u1ea3ng c\u00e1o v\u00e0 H\u1ed9i ch\u1ee3 Th\u01b0\u01a1ng m\u1ea1i Vinexad (m\u00e3 VNX \u2013 UPCoM) \u0111ang t\u1ea1o s\u00f3ng tr\u00ean th\u1ecb tr\u01b0\u1eddng khi c\u00f4ng b\u1ed1 m\u1ee9c c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t l\u00ean t\u1edbi 130% cho n\u0103m 2025, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 13.000 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu. \u0110\u1ee3t chi tr\u1ea3 d\u1ef1 ki\u1ebfn v\u00e0o ng\u00e0y 14\/4 t\u1edbi \u0111\u00e2y s\u1ebd ng\u1ed1n g\u1ea7n 42 t\u1ef7 \u0111\u1ed3ng t\u1eeb […]<\/p>\n","protected":false},"author":1,"featured_media":2852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-2855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-thi-truong-chung-khoan"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/2855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/comments?post=2855"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/2855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/2852"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=2855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=2855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=2855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}