{"id":302658,"date":"2025-07-12T16:52:48","date_gmt":"2025-07-12T16:52:48","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/what-is-fund-stock-2\/"},"modified":"2025-07-12T16:52:48","modified_gmt":"2025-07-12T16:52:48","slug":"what-is-fund-stock","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/learning\/what-is-fund-stock\/","title":{"rendered":"C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec: Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00f4ng minh cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":50,"featured_media":213880,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[47,28,45],"class_list":["post-302658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learning","tag-beginner","tag-investment","tag-stock"],"acf":{"h1":"Pocket Option: C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00fang \u0111\u1ebfn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam","h1_source":{"label":"H1","type":"text","formatted_value":"Pocket Option: C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00fang \u0111\u1ebfn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam"},"description":"C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? Kh\u00e1m ph\u00e1 c\u00e1i nh\u00ecn to\u00e0n di\u1ec7n v\u1ec1 c\u00e1ch c\u00e1c c\u00f4ng ty mua l\u1ea1i c\u1ed5 phi\u1ebfu, t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng v\u00e0 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 \u0111\u1ed9c \u0111\u00e1o ngay b\u00e2y gi\u1edd t\u1eeb Pocket Option","description_source":{"label":"Description","type":"textarea","formatted_value":"C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? Kh\u00e1m ph\u00e1 c\u00e1i nh\u00ecn to\u00e0n di\u1ec7n v\u1ec1 c\u00e1ch c\u00e1c c\u00f4ng ty mua l\u1ea1i c\u1ed5 phi\u1ebfu, t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng v\u00e0 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 \u0111\u1ed9c \u0111\u00e1o ngay b\u00e2y gi\u1edd t\u1eeb Pocket Option"},"intro":"Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang ph\u00e1t tri\u1ec3n nhanh ch\u00f3ng, \u0111\u00f2i h\u1ecfi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i n\u1eafm v\u1eefng c\u00e1c kh\u00e1i ni\u1ec7m quan tr\u1ecdng. C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t trong nh\u1eefng c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh t\u01b0\u01a1ng \u0111\u1ed1i m\u1edbi \u1edf Vi\u1ec7t Nam nh\u01b0ng c\u00f3 t\u00e1c \u0111\u1ed9ng m\u1ea1nh m\u1ebd \u0111\u1ebfn gi\u00e1 tr\u1ecb c\u1ed5 phi\u1ebfu v\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0. B\u00e0i vi\u1ebft n\u00e0y cung c\u1ea5p ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam v\u00e0 \u0111\u01b0a ra c\u00e1c chi\u1ebfn l\u01b0\u1ee3c th\u1ef1c ti\u1ec5n cho nh\u00e0 \u0111\u1ea7u t\u01b0.","intro_source":{"label":"Intro","type":"text","formatted_value":"Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang ph\u00e1t tri\u1ec3n nhanh ch\u00f3ng, \u0111\u00f2i h\u1ecfi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i n\u1eafm v\u1eefng c\u00e1c kh\u00e1i ni\u1ec7m quan tr\u1ecdng. C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t trong nh\u1eefng c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh t\u01b0\u01a1ng \u0111\u1ed1i m\u1edbi \u1edf Vi\u1ec7t Nam nh\u01b0ng c\u00f3 t\u00e1c \u0111\u1ed9ng m\u1ea1nh m\u1ebd \u0111\u1ebfn gi\u00e1 tr\u1ecb c\u1ed5 phi\u1ebfu v\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0. B\u00e0i vi\u1ebft n\u00e0y cung c\u1ea5p ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam v\u00e0 \u0111\u01b0a ra c\u00e1c chi\u1ebfn l\u01b0\u1ee3c th\u1ef1c ti\u1ec5n cho nh\u00e0 \u0111\u1ea7u t\u01b0."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? \u0110\u1ecbnh ngh\u0129a v\u00e0 \u0111\u1eb7c \u0111i\u1ec3m c\u01a1 b\u1ea3n tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? \u0110\u00e2y l\u00e0 c\u00e2u h\u1ecfi m\u00e0 nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam th\u01b0\u1eddng \u0111\u1eb7t ra khi t\u00ecm hi\u1ec3u v\u1ec1 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. N\u00f3i m\u1ed9t c\u00e1ch \u0111\u01a1n gi\u1ea3n, c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh v\u00e0 sau \u0111\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng ty ph\u00e1t h\u00e0nh mua l\u1ea1i t\u1eeb th\u1ecb tr\u01b0\u1eddng. Sau khi mua l\u1ea1i, nh\u1eefng c\u1ed5 phi\u1ebfu n\u00e0y kh\u00f4ng b\u1ecb h\u1ee7y b\u1ecf m\u00e0 \u0111\u01b0\u1ee3c c\u00f4ng ty gi\u1eef l\u1ea1i cho c\u00e1c m\u1ee5c \u0111\u00edch chi\u1ebfn l\u01b0\u1ee3c kh\u00e1c trong t\u01b0\u01a1ng lai.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>T\u1ea1i Vi\u1ec7t Nam, ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u00e3 tr\u1edf n\u00ean \u0111\u1eb7c bi\u1ec7t ph\u1ed5 bi\u1ebfn t\u1eeb n\u0103m 2020 \u0111\u1ebfn nay, khi nhi\u1ec1u doanh nghi\u1ec7p l\u1edbn nh\u01b0 Vingroup, FPT, v\u00e0 Masan nh\u1eadn th\u1ea5y gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a h\u1ecd b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p h\u01a1n so v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i. Theo d\u1eef li\u1ec7u t\u1eeb S\u1edf Giao d\u1ecbch Ch\u1ee9ng kho\u00e1n TP.HCM (HOSE), t\u1ed5ng gi\u00e1 tr\u1ecb c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft \u0111\u00e3 t\u0103ng 27% v\u00e0o n\u0103m 2023 so v\u1edbi n\u0103m tr\u01b0\u1edbc \u0111\u00f3.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t v\u1edbi nh\u1eefng \u0111\u1eb7c \u0111i\u1ec3m quan tr\u1ecdng m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u1ea7n hi\u1ec3u r\u00f5:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft t\u1ea1i c\u00e1c cu\u1ed9c h\u1ecdp c\u1ed5 \u0111\u00f4ng th\u01b0\u1eddng ni\u00ean ho\u1eb7c b\u1ea5t th\u01b0\u1eddng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng c\u00f3 quy\u1ec1n nh\u1eadn c\u1ed5 t\u1ee9c b\u1eb1ng ti\u1ec1n m\u1eb7t ho\u1eb7c c\u1ed5 phi\u1ebfu<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng \u0111\u01b0\u1ee3c t\u00ednh v\u00e0o s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh khi t\u00ednh to\u00e1n c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh l\u1ea1i cho nh\u00e0 \u0111\u1ea7u t\u01b0 ho\u1eb7c ph\u00e2n ph\u1ed1i cho nh\u00e2n vi\u00ean th\u00f4ng qua c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh ESOP<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u1ea2nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh quan tr\u1ecdng nh\u01b0 EPS (L\u1ee3i nhu\u1eadn tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu) v\u00e0 ROE (L\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi m\u1ed9t c\u00f4ng ty quy\u1ebft \u0111\u1ecbnh mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a ch\u00ednh m\u00ecnh, s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu l\u01b0u h\u00e0nh tr\u00ean th\u1ecb tr\u01b0\u1eddng s\u1ebd gi\u1ea3m. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra hi\u1ec7u \u1ee9ng t\u00edch c\u1ef1c \u0111\u1ed1i v\u1edbi gi\u00e1 tr\u1ecb c\u1ee7a c\u00f4ng ty v\u00e0 l\u1ee3i \u00edch c\u1ee7a c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu, \u0111\u1eb7c bi\u1ec7t trong \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam v\u1eabn \u0111ang tr\u1ea3i qua nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng v\u00e0 ch\u01b0a th\u1ef1c s\u1ef1 hi\u1ec7u qu\u1ea3 trong vi\u1ec7c \u0111\u1ecbnh gi\u00e1 doanh nghi\u1ec7p.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>T\u1ea1i sao doanh nghi\u1ec7p Vi\u1ec7t Nam mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>T\u1ea1i sao c\u00e1c c\u00f4ng ty Vi\u1ec7t Nam ng\u00e0y c\u00e0ng quan t\u00e2m \u0111\u1ebfn vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a ch\u00ednh m\u00ecnh? L\u00fd do kh\u00f4ng ch\u1ec9 n\u1eb1m \u1edf c\u00e1c kh\u00eda c\u1ea1nh t\u00e0i ch\u00ednh thu\u1ea7n t\u00fay m\u00e0 c\u00f2n li\u00ean quan \u0111\u1ebfn chi\u1ebfn l\u01b0\u1ee3c ph\u00e1t tri\u1ec3n d\u00e0i h\u1ea1n v\u00e0 b\u1ed1i c\u1ea3nh c\u1ea1nh tranh c\u1ee5 th\u1ec3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>L\u00fd do<\/th><th>M\u00f4 t\u1ea3 chi ti\u1ebft<\/th><th>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf t\u1ea1i Vi\u1ec7t Nam<\/th><\/tr><\/thead><tbody><tr><td>T\u0103ng c\u01b0\u1eddng EPS<\/td><td>Gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh, t\u0103ng l\u1ee3i nhu\u1eadn tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu, l\u00e0m cho c\u1ed5 phi\u1ebfu h\u1ea5p d\u1eabn h\u01a1n<\/td><td>FPT mua l\u1ea1i 2,56 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 trong Q2\/2023, EPS t\u0103ng 8,2% sau \u0111\u00f3<\/td><\/tr><tr><td>H\u1ed7 tr\u1ee3 gi\u00e1 c\u1ed5 phi\u1ebfu<\/td><td>T\u1ea1o th\u00eam nhu c\u1ea7u khi gi\u00e1 c\u1ed5 phi\u1ebfu b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p, ng\u0103n ch\u1eb7n s\u1ef1 gi\u1ea3m gi\u00e1 qu\u00e1 m\u1ee9c<\/td><td>Vinamilk (VNM) mua 22,9 tri\u1ec7u c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022-2023, gi\u00e1 \u1ed5n \u0111\u1ecbnh sau \u0111\u00f3<\/td><\/tr><tr><td>Ng\u0103n ch\u1eb7n th\u00e2u t\u00f3m<\/td><td>Gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng, l\u00e0m cho vi\u1ec7c th\u00e2u t\u00f3m kh\u00f4ng mong mu\u1ed1n tr\u1edf n\u00ean kh\u00f3 kh\u0103n h\u01a1n<\/td><td>Nhi\u1ec1u doanh nghi\u1ec7p nh\u01b0 REE, H\u00f2a Ph\u00e1t \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c n\u00e0y trong b\u1ed1i c\u1ea3nh m\u1edf c\u1eeda th\u1ecb tr\u01b0\u1eddng cho nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i<\/td><\/tr><tr><td>Ph\u00e2n ph\u1ed1i cho nh\u00e2n vi\u00ean<\/td><td>S\u1eed d\u1ee5ng l\u00e0m c\u1ed5 phi\u1ebfu th\u01b0\u1edfng ho\u1eb7c ESOP \u0111\u1ec3 thu h\u00fat v\u00e0 gi\u1eef ch\u00e2n nh\u00e2n t\u00e0i<\/td><td>T\u1eadp \u0111o\u00e0n Masan v\u00e0 Techcombank s\u1eed d\u1ee5ng c\u1ed5 phi\u1ebfu qu\u1ef9 cho c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh ESOP quy m\u00f4 l\u1edbn trong 2023<\/td><\/tr><tr><td>T\u00e1i c\u1ea5u tr\u00fac v\u1ed1n<\/td><td>T\u1ed1i \u01b0u h\u00f3a c\u1ea5u tr\u00fac v\u1ed1n, c\u00e2n b\u1eb1ng gi\u1eefa v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu v\u00e0 n\u1ee3<\/td><td>Vingroup (VIC) mua l\u1ea1i 10 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022 trong qu\u00e1 tr\u00ecnh t\u00e1i c\u1ea5u tr\u00fac c\u1ee7a t\u1eadp \u0111o\u00e0n<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u00e1ng ch\u00fa \u00fd, trong b\u1ed1i c\u1ea3nh th\u00e1ch th\u1ee9c kinh t\u1ebf v\u0129 m\u00f4 c\u1ee7a Vi\u1ec7t Nam trong 2022-2023, nhi\u1ec1u c\u00f4ng ty l\u1edbn nh\u01b0 Vinamilk (VNM), FPT, v\u00e0 T\u1eadp \u0111o\u00e0n Masan \u0111\u00e3 th\u1ef1c hi\u1ec7n c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu quy m\u00f4 l\u1edbn. Vinamilk \u0111\u00e3 chi kho\u1ea3ng 2.500 t\u1ef7 \u0111\u1ed3ng \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu, trong khi FPT mua l\u1ea1i h\u01a1n 3 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 v\u1edbi gi\u00e1 tr\u1ecb v\u01b0\u1ee3t qu\u00e1 300 t\u1ef7 \u0111\u1ed3ng. Nh\u1eefng \u0111\u1ed9ng th\u00e1i n\u00e0y kh\u00f4ng ch\u1ec9 gi\u00fap \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu m\u00e0 c\u00f2n g\u1eedi \u0111i t\u00edn hi\u1ec7u m\u1ea1nh m\u1ebd v\u1ec1 s\u1ef1 t\u1ef1 tin c\u1ee7a l\u00e3nh \u0111\u1ea1o v\u00e0o tri\u1ec3n v\u1ecdng d\u00e0i h\u1ea1n c\u1ee7a c\u00f4ng ty.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Quy tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9, c\u00e1c c\u00f4ng ty Vi\u1ec7t Nam ph\u1ea3i tu\u00e2n theo m\u1ed9t quy tr\u00ecnh nghi\u00eam ng\u1eb7t theo Ngh\u1ecb \u0111\u1ecbnh 155\/2020\/N\u0110-CP v\u00e0 Th\u00f4ng t\u01b0 96\/2020\/TT-BTC c\u1ee7a B\u1ed9 T\u00e0i ch\u00ednh. Hi\u1ec3u r\u00f5 quy tr\u00ecnh n\u00e0y gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eadn di\u1ec7n s\u1ef1 minh b\u1ea1ch trong ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>C\u00e1c b\u01b0\u1edbc th\u1ef1c hi\u1ec7n mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h3><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 1: H\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb h\u1ecdp v\u00e0 \u0111\u1ec1 xu\u1ea5t k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu chi ti\u1ebft<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 2: \u0110\u1ea1i h\u1ed9i \u0111\u1ed3ng c\u1ed5 \u0111\u00f4ng th\u00f4ng qua ngh\u1ecb quy\u1ebft v\u1ec1 vi\u1ec7c mua l\u1ea1i (ho\u1eb7c H\u0110QT quy\u1ebft \u0111\u1ecbnh n\u1ebfu d\u01b0\u1edbi 10% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 3: C\u00f4ng b\u1ed1 th\u00f4ng tin v\u1ec1 k\u1ebf ho\u1ea1ch mua l\u1ea1i \u00edt nh\u1ea5t 20 ng\u00e0y tr\u01b0\u1edbc ng\u00e0y giao d\u1ecbch \u0111\u1ea7u ti\u00ean<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 4: N\u1ed9p h\u1ed3 s\u01a1 \u0111\u0103ng k\u00fd mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00ean \u1ee6y ban Ch\u1ee9ng kho\u00e1n Nh\u00e0 n\u01b0\u1edbc v\u00e0 ch\u1edd ph\u1ea3n h\u1ed3i<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 5: Th\u1ef1c hi\u1ec7n giao d\u1ecbch mua trong th\u1eddi gian t\u1ed1i \u0111a 30 ng\u00e0y k\u1ec3 t\u1eeb ng\u00e0y b\u1eaft \u0111\u1ea7u<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 6: B\u00e1o c\u00e1o k\u1ebft qu\u1ea3 giao d\u1ecbch trong v\u00f2ng 10 ng\u00e0y sau khi ho\u00e0n t\u1ea5t<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo quy \u0111\u1ecbnh hi\u1ec7n h\u00e0nh, c\u00e1c c\u00f4ng ty Vi\u1ec7t Nam ch\u1ec9 \u0111\u01b0\u1ee3c ph\u00e9p mua l\u1ea1i t\u1ed1i \u0111a 30% t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u00e3 ph\u00e1t h\u00e0nh (tr\u01b0\u1edbc \u0111\u00e2y l\u00e0 25%). Vi\u1ec7c mua l\u1ea1i ph\u1ea3i \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n c\u00f4ng khai qua s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n (th\u00f4ng qua kh\u1edbp l\u1ec7nh ho\u1eb7c th\u1ecfa thu\u1eadn), tuy\u1ec7t \u0111\u1ed1i kh\u00f4ng \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n ngo\u00e0i s\u00e0n \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o t\u00ednh minh b\u1ea1ch.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option cung c\u1ea5p cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u00f4ng c\u1ee5 \"Treasury Stock Alert\" \u0111\u1ed9c quy\u1ec1n gi\u00fap theo d\u00f5i th\u00f4ng tin th\u1eddi gian th\u1ef1c v\u1ec1 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a h\u01a1n 1.500 c\u00f4ng ty ni\u00eam y\u1ebft. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 thi\u1ebft l\u1eadp c\u1ea3nh b\u00e1o t\u1ef1 \u0111\u1ed9ng khi c\u00e1c c\u00f4ng ty l\u1edbn c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i, gi\u00fap n\u1eafm b\u1eaft c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc khi th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u1ee9ng \u0111\u1ea7y \u0111\u1ee7. Pocket Option c\u0169ng cung c\u1ea5p c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>T\u00e1c \u0111\u1ed9ng c\u1ee7a c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ee7a doanh nghi\u1ec7p Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn nhi\u1ec1u ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh quan tr\u1ecdng c\u1ee7a doanh nghi\u1ec7p. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam, hi\u1ec3u r\u00f5 nh\u1eefng t\u00e1c \u0111\u1ed9ng n\u00e0y gi\u00fap \u0111\u00e1nh gi\u00e1 ch\u00ednh x\u00e1c h\u01a1n gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a doanh nghi\u1ec7p, \u0111\u1eb7c bi\u1ec7t trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng c\u00f3 nhi\u1ec1u b\u1ea5t c\u00e2n x\u1ee9ng th\u00f4ng tin nh\u01b0 Vi\u1ec7t Nam.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 s\u1ed1<\/th><th>T\u00e1c \u0111\u1ed9ng c\u1ee7a C\u1ed5 phi\u1ebfu Qu\u1ef9<\/th><th>V\u00ed d\u1ee5 t\u1eeb Doanh nghi\u1ec7p Vi\u1ec7t Nam<\/th><\/tr><\/thead><tbody><tr><td>EPS (L\u1ee3i nhu\u1eadn tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu)<\/td><td>T\u0103ng khi s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh gi\u1ea3m, ngay c\u1ea3 khi l\u1ee3i nhu\u1eadn kh\u00f4ng \u0111\u1ed5i<\/td><td>MWG mua l\u1ea1i 2,35 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022, EPS Q4\/2022 t\u0103ng 4,7% d\u00f9 l\u1ee3i nhu\u1eadn gi\u1ea3m nh\u1eb9<\/td><\/tr><tr><td>P\/E (Gi\u00e1 tr\u00ean L\u1ee3i nhu\u1eadn)<\/td><td>Gi\u1ea3m khi EPS t\u0103ng (n\u1ebfu gi\u00e1 kh\u00f4ng \u0111\u1ed5i), l\u00e0m cho c\u1ed5 phi\u1ebfu c\u00f3 v\u1ebb \"r\u1ebb\" h\u01a1n<\/td><td>FPT sau ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu trong 2023 c\u00f3 P\/E gi\u1ea3m t\u1eeb 18,5 xu\u1ed1ng 17,2<\/td><\/tr><tr><td>ROE (L\u1ee3i nhu\u1eadn tr\u00ean V\u1ed1n ch\u1ee7 s\u1edf h\u1eefu)<\/td><td>T\u0103ng khi v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu gi\u1ea3m do mua l\u1ea1i c\u1ed5 phi\u1ebfu<\/td><td>Vinamilk (VNM) ghi nh\u1eadn ROE t\u0103ng t\u1eeb 25,8% l\u00ean 27,3% sau khi mua l\u1ea1i c\u1ed5 phi\u1ebfu trong 2023<\/td><\/tr><tr><td>Gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu<\/td><td>Thay \u0111\u1ed5i t\u00f9y thu\u1ed9c v\u00e0o gi\u00e1 mua l\u1ea1i so v\u1edbi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch hi\u1ec7n t\u1ea1i<\/td><td>PNJ mua l\u1ea1i c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 cao h\u01a1n 15% so v\u1edbi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch, l\u00e0m gi\u1ea3m nh\u1eb9 BVPS<\/td><\/tr><tr><td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/td><td>T\u0103ng khi t\u1ed5ng c\u1ed5 t\u1ee9c kh\u00f4ng \u0111\u1ed5i nh\u01b0ng s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu nh\u1eadn c\u1ed5 t\u1ee9c gi\u1ea3m<\/td><td>REE t\u0103ng l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c t\u1eeb 3,8% l\u00ean 4,2% sau ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i 2023<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam th\u01b0\u1eddng th\u1eafc m\u1eafc: \"C\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 \u0111\u01b0\u1ee3c nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng?\" C\u00e2u tr\u1ea3 l\u1eddi l\u00e0 ho\u00e0n to\u00e0n kh\u00f4ng. C\u1ed5 phi\u1ebfu qu\u1ef9 kh\u00f4ng nh\u1eadn b\u1ea5t k\u1ef3 c\u1ed5 t\u1ee9c n\u00e0o, d\u00f9 l\u00e0 ti\u1ec1n m\u1eb7t hay c\u1ed5 phi\u1ebfu. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra l\u1ee3i th\u1ebf cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu - khi t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c h\u01b0\u1edfng c\u1ed5 t\u1ee9c gi\u1ea3m, c\u00e1c c\u00f4ng ty c\u00f3 th\u1ec3 t\u0103ng t\u1ef7 l\u1ec7 chi tr\u1ea3 c\u1ed5 t\u1ee9c tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu m\u00e0 kh\u00f4ng t\u0103ng t\u1ed5ng chi ph\u00ed.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 hi\u1ec3u r\u00f5 h\u01a1n, h\u00e3y xem x\u00e9t tr\u01b0\u1eddng h\u1ee3p c\u1ee7a C\u00f4ng ty C\u1ed5 ph\u1ea7n Vinhomes (VHM) trong n\u0103m 2023. VHM c\u00f3 4,35 t\u1ef7 c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh, v\u1edbi l\u1ee3i nhu\u1eadn sau thu\u1ebf l\u00e0 29.000 t\u1ef7 \u0111\u1ed3ng, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng EPS l\u00e0 6.667 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu. C\u00f4ng ty \u0111\u00e3 mua l\u1ea1i 300 tri\u1ec7u c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9, gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh xu\u1ed1ng c\u00f2n 4,05 t\u1ef7. V\u1edbi l\u1ee3i nhu\u1eadn kh\u00f4ng \u0111\u1ed5i, EPS m\u1edbi t\u0103ng l\u00ean 7.160 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu, t\u0103ng 7,4%. \u0110i\u1ec1u n\u00e0y g\u00f3p ph\u1ea7n t\u0103ng s\u1ee9c h\u1ea5p d\u1eabn c\u1ee7a c\u1ed5 phi\u1ebfu VHM tr\u00ean th\u1ecb tr\u01b0\u1eddng, ngay c\u1ea3 trong b\u1ed1i c\u1ea3nh ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n \u0111ang \u0111\u1ed1i m\u1eb7t v\u1edbi nhi\u1ec1u kh\u00f3 kh\u0103n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option cung c\u1ea5p c\u00f4ng c\u1ee5 \"EPS Impact Calculator\" \u0111\u1ed9c \u0111\u00e1o gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam d\u1ec5 d\u00e0ng t\u00ednh to\u00e1n t\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn EPS v\u00e0 c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh kh\u00e1c c\u1ee7a doanh nghi\u1ec7p. C\u00f4ng c\u1ee5 n\u00e0y \u0111\u1eb7c bi\u1ec7t h\u1eefu \u00edch khi \u0111\u00e1nh gi\u00e1 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty v\u1eeba c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u1ed5 phi\u1ebfu qu\u1ef9 v\u00e0 m\u1ed1i quan h\u1ec7 v\u1edbi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec v\u00e0 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u00e3 tr\u1edf th\u00e0nh m\u1ed9t ch\u1ec9 s\u1ed1 quan tr\u1ecdng v\u1ec1 t\u00e2m l\u00fd v\u00e0 \u0111\u1ecbnh h\u01b0\u1edbng c\u1ee7a doanh nghi\u1ec7p. Xu h\u01b0\u1edbng n\u00e0y ng\u00e0y c\u00e0ng r\u00f5 n\u00e9t, \u0111\u1eb7c bi\u1ec7t trong c\u00e1c giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng nh\u01b0 chu k\u1ef3 2020-2023.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng<\/th><th>Xu h\u01b0\u1edbng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/th><th>\u00dd ngh\u0129a \u0111\u1ed1i v\u1edbi chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0<\/th><\/tr><\/thead><tbody><tr><td>Th\u1ecb tr\u01b0\u1eddng gi\u1ea3m m\u1ea1nh (VN-Index -30%)<\/td><td>72% c\u00e1c c\u00f4ng ty l\u1edbn (Top 50) th\u1ef1c hi\u1ec7n ho\u1eb7c c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i<\/td><td>T\u00edn hi\u1ec7u mua m\u1ea1nh - l\u00e3nh \u0111\u1ea1o tin r\u1eb1ng gi\u00e1 d\u01b0\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i<\/td><\/tr><tr><td>Th\u1ecb tr\u01b0\u1eddng \u0111i ngang (VN-Index \u00b110%)<\/td><td>35% c\u00f4ng ty th\u1ef1c hi\u1ec7n mua l\u1ea1i c\u00f3 ch\u1ecdn l\u1ecdc, th\u01b0\u1eddng l\u00e0 doanh nghi\u1ec7p c\u00f3 t\u00e0i ch\u00ednh m\u1ea1nh<\/td><td>C\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ch\u1ecdn l\u1ecdc v\u00e0o doanh nghi\u1ec7p ch\u1ea5t l\u01b0\u1ee3ng cao<\/td><\/tr><tr><td>Th\u1ecb tr\u01b0\u1eddng t\u0103ng m\u1ea1nh (VN-Index +25%)<\/td><td>Ch\u1ec9 15% c\u00f4ng ty mua l\u1ea1i, 22% c\u00f4ng ty b\u00e1n c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ec3 huy \u0111\u1ed9ng v\u1ed1n<\/td><td>C\u1ea3nh b\u00e1o th\u1eadn tr\u1ecdng - l\u00e3nh \u0111\u1ea1o c\u00f3 th\u1ec3 tin r\u1eb1ng c\u1ed5 phi\u1ebfu \u0111ang \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 cao<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb S\u1edf Giao d\u1ecbch Ch\u1ee9ng kho\u00e1n TP.HCM cho th\u1ea5y trong giai \u0111o\u1ea1n VN-Index gi\u1ea3m m\u1ea1nh t\u1eeb th\u00e1ng 4\/2022 \u0111\u1ebfn th\u00e1ng 11\/2022 (gi\u1ea3m g\u1ea7n 40%), 78 c\u00f4ng ty ni\u00eam y\u1ebft \u0111\u00e3 th\u1ef1c hi\u1ec7n mua l\u1ea1i c\u1ed5 phi\u1ebfu v\u1edbi t\u1ed5ng gi\u00e1 tr\u1ecb l\u00ean t\u1edbi 12.500 t\u1ef7 \u0111\u1ed3ng. C\u00e1c doanh nghi\u1ec7p l\u1edbn nh\u01b0 Vingroup (VIC), Vinhomes (VHM), FPT, MWG, v\u00e0 H\u00f2a Ph\u00e1t (HPG) \u0111\u1ec1u t\u00edch c\u1ef1c th\u1ef1c hi\u1ec7n c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i quy m\u00f4 l\u1edbn. \u0110\u00e1ng ch\u00fa \u00fd, sau khi c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh n\u00e0y ho\u00e0n t\u1ea5t, gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a 82% c\u00e1c c\u00f4ng ty n\u00e0y ph\u1ee5c h\u1ed3i t\u1ed1t h\u01a1n m\u1ee9c trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng trong 6 th\u00e1ng ti\u1ebfp theo.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh t\u1ea1i Vi\u1ec7t Nam n\u00ean \u0111\u1eb7c bi\u1ec7t ch\u00fa \u00fd \u0111\u1ebfn th\u00f4ng tin v\u1ec1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft. \u0110\u1eb7c bi\u1ec7t, h\u1ecd n\u00ean ph\u00e2n t\u00edch k\u1ef9 c\u00e1c y\u1ebfu t\u1ed1 sau: (1) quy m\u00f4 mua l\u1ea1i so v\u1edbi t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu, (2) ngu\u1ed3n v\u1ed1n s\u1eed d\u1ee5ng \u0111\u1ec3 mua l\u1ea1i, (3) gi\u00e1 mua d\u1ef1 ki\u1ebfn so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng v\u00e0 gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i, v\u00e0 (4) th\u1eddi gian th\u1ef1c hi\u1ec7n. Th\u00f4ng tin n\u00e0y th\u01b0\u1eddng ph\u1ea3n \u00e1nh quan \u0111i\u1ec3m th\u1ef1c s\u1ef1 c\u1ee7a l\u00e3nh \u0111\u1ea1o v\u1ec1 gi\u00e1 tr\u1ecb v\u00e0 tri\u1ec3n v\u1ecdng c\u1ee7a doanh nghi\u1ec7p.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00f4ng minh li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u00f3 th\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3 d\u1ef1a tr\u00ean s\u1ef1 hi\u1ec3u bi\u1ebft s\u00e2u s\u1eafc v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec v\u00e0 \u00fd ngh\u0129a c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i. Nh\u1eefng chi\u1ebfn l\u01b0\u1ee3c n\u00e0y c\u1ea7n \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh \u0111\u1ec3 ph\u00f9 h\u1ee3p v\u1edbi \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam - n\u01a1i th\u00f4ng tin ch\u01b0a th\u1ef1c s\u1ef1 \u0111\u1ed1i x\u1ee9ng v\u00e0 ph\u1ea3n \u1ee9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u00f4i khi kh\u00f4ng ho\u00e0n to\u00e0n hi\u1ec7u qu\u1ea3.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ph\u01b0\u01a1ng ph\u00e1p hi\u1ec7u qu\u1ea3 \u0111\u1ec3 ph\u00e2n t\u00edch th\u00f4ng tin mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9<\/h3><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Theo d\u00f5i s\u00e1t l\u1ecbch c\u00f4ng b\u1ed1 th\u00f4ng tin c\u1ee7a SSC v\u1ec1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u00e1nh gi\u00e1 t\u1ef7 l\u1ec7 mua l\u1ea1i (tr\u00ean 5% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh th\u01b0\u1eddng c\u00f3 t\u00e1c \u0111\u1ed9ng m\u1ea1nh)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n t\u00edch t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh, \u0111\u1eb7c bi\u1ec7t l\u00e0 ti\u1ec1n m\u1eb7t v\u00e0 \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>So s\u00e1nh gi\u00e1 mua l\u1ea1i d\u1ef1 ki\u1ebfn v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i t\u00ednh to\u00e1n b\u1eb1ng c\u00e1c m\u00f4 h\u00ecnh DCF, FCFF, ho\u1eb7c P\/B<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Xem x\u00e9t l\u1ecbch s\u1eed mua l\u1ea1i v\u00e0 ph\u00e1t h\u00e0nh l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00f4ng ty trong 3-5 n\u0103m g\u1ea7n \u0111\u00e2y<\/li><\/ul><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0<\/th><th>Ph\u01b0\u01a1ng ph\u00e1p th\u1ef1c hi\u1ec7n t\u1ea1i Vi\u1ec7t Nam<\/th><th>\u0110i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng ph\u00f9 h\u1ee3p<\/th><\/tr><\/thead><tbody><tr><td>Mua tr\u01b0\u1edbc khi c\u00f4ng b\u1ed1 ch\u00ednh th\u1ee9c<\/td><td>L\u1ecdc c\u00e1c c\u00f4ng ty c\u00f3 t\u1ef7 l\u1ec7 gi\u00e1 tr\u00ean s\u1ed5 s\u00e1ch (P\/B) d\u01b0\u1edbi 1, d\u00f2ng ti\u1ec1n d\u01b0\u01a1ng l\u1edbn, v\u00e0 l\u1ecbch s\u1eed mua l\u1ea1i t\u00edch c\u1ef1c<\/td><td>Th\u1ecb tr\u01b0\u1eddng gi\u1ea3m h\u01a1n 20%, P\/E trung b\u00ecnh ng\u00e0nh d\u01b0\u1edbi m\u1ee9c l\u1ecbch s\u1eed 5 n\u0103m<\/td><\/tr><tr><td>Mua ngay sau khi c\u00f4ng b\u1ed1 ch\u00ednh th\u1ee9c<\/td><td>Ph\u1ea3n \u1ee9ng nhanh trong v\u00f2ng 1-2 ng\u00e0y sau khi c\u00f4ng ty c\u00f4ng b\u1ed1 ngh\u1ecb quy\u1ebft H\u0110QT\/\u0110H\u0110C\u0110 v\u1ec1 mua l\u1ea1i<\/td><td>K\u1ebf ho\u1ea1ch mua l\u1ea1i quy m\u00f4 l\u1edbn (&gt;7% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh), c\u00f4ng ty c\u00f3 n\u0103ng l\u1ef1c t\u00e0i ch\u00ednh m\u1ea1nh<\/td><\/tr><tr><td>Mua trong su\u1ed1t qu\u00e1 tr\u00ecnh mua l\u1ea1i<\/td><td>Theo d\u00f5i b\u00e1o c\u00e1o giao d\u1ecbch h\u00e0ng ng\u00e0y, mua khi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch t\u0103ng \u0111\u1ed9t bi\u1ebfn<\/td><td>Thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng \u0111\u1ee7 l\u1edbn, c\u00f4ng ty mua v\u1edbi t\u1ed1c \u0111\u1ed9 \u1ed5n \u0111\u1ecbnh trong th\u1eddi gian d\u00e0i<\/td><\/tr><tr><td>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n<\/td><td>T\u1eadp trung v\u00e0o c\u00e1c c\u00f4ng ty \u0111\u00e3 ho\u00e0n t\u1ea5t ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i v\u00e0 c\u00f3 k\u1ebf ho\u1ea1ch ph\u00e1t tri\u1ec3n r\u00f5 r\u00e0ng<\/td><td>C\u00f4ng ty c\u00f3 n\u1ec1n t\u1ea3ng t\u1ed1t, ROE &gt;15%, t\u1ef7 l\u1ec7 n\u1ee3 tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu th\u1ea5p, ng\u00e0nh c\u00f3 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t mang l\u1ea1i th\u00f4ng tin gi\u00e1 tr\u1ecb cho nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh t\u1ea1i Vi\u1ec7t Nam. Khi hi\u1ec3u \u0111\u00fang v\u00e0 \u0111\u1ea7y \u0111\u1ee7 \u00fd ngh\u0129a c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 kh\u00e1m ph\u00e1 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc khi th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 th\u00f4ng tin. \u0110i\u1ec1u n\u00e0y \u0111\u1eb7c bi\u1ec7t quan tr\u1ecdng trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, n\u01a1i v\u1eabn c\u00f2n nhi\u1ec1u b\u1ea5t c\u00e2n x\u1ee9ng th\u00f4ng tin v\u00e0 hi\u1ec7u qu\u1ea3 th\u1ecb tr\u01b0\u1eddng ch\u01b0a cao.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option cung c\u1ea5p b\u1ed9 c\u00f4ng c\u1ee5 \"Treasury Stock Analyzer\" \u0111\u1ed9c quy\u1ec1n cho ph\u00e9p nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam l\u1ecdc v\u00e0 ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu d\u1ef1a tr\u00ean ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9. C\u00f4ng c\u1ee5 n\u00e0y t\u00edch h\u1ee3p c\u00e1c ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt v\u1ec1 kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch b\u1ea5t th\u01b0\u1eddng, t\u1ef7 l\u1ec7 mua c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i, v\u00e0 c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch t\u1eeb c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n h\u00e0ng \u0111\u1ea7u, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t d\u1ef1a tr\u00ean d\u1eef li\u1ec7u to\u00e0n di\u1ec7n.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>R\u1ee7i ro v\u00e0 c\u00e2n nh\u1eafc khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u00f3 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i t\u1ea1i Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1eb7c d\u00f9 vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu th\u01b0\u1eddng mang l\u1ea1i t\u00edn hi\u1ec7u t\u00edch c\u1ef1c, nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u1ea7n nh\u1eadn di\u1ec7n \u0111\u1ea7y \u0111\u1ee7 c\u00e1c r\u1ee7i ro ti\u1ec1m \u1ea9n. C\u00e2u h\u1ecfi \"c\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 \u0111\u01b0\u1ee3c nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng?\" ch\u1ec9 l\u00e0 m\u1ed9t ph\u1ea7n nh\u1ecf trong b\u1ee9c tranh t\u1ed5ng th\u1ec3 v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a ho\u1ea1t \u0111\u1ed9ng n\u00e0y.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>R\u1ee7i ro<\/th><th>Bi\u1ec3u hi\u1ec7n c\u1ee5 th\u1ec3 tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/th><th>C\u00e1ch nh\u1eadn di\u1ec7n v\u00e0 tr\u00e1nh<\/th><\/tr><\/thead><tbody><tr><td>\u0110\u1ed9ng c\u01a1 kh\u00f4ng minh b\u1ea1ch<\/td><td>M\u1ed9t s\u1ed1 doanh nghi\u1ec7p mua l\u1ea1i c\u1ed5 phi\u1ebfu ch\u1ec9 \u0111\u1ec3 \"l\u00e0m \u0111\u1eb9p\" c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh tr\u01b0\u1edbc m\u00f9a b\u00e1o c\u00e1o<\/td><td>Ph\u00e2n t\u00edch l\u1ecbch s\u1eed qu\u1ea3n tr\u1ecb, ch\u1ea5t l\u01b0\u1ee3ng b\u00e1o c\u00e1o th\u01b0\u1eddng ni\u00ean, v\u00e0 s\u1ef1 minh b\u1ea1ch trong c\u00f4ng b\u1ed1 th\u00f4ng tin<\/td><\/tr><tr><td>S\u1eed d\u1ee5ng ti\u1ec1n kh\u00f4ng hi\u1ec7u qu\u1ea3<\/td><td>Doanh nghi\u1ec7p d\u00f9ng ti\u1ec1n m\u1eb7t \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu thay v\u00ec \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c d\u1ef1 \u00e1n m\u1edbi c\u00f3 ti\u1ec1m n\u0103ng<\/td><td>Ki\u1ec3m tra t\u1ef7 su\u1ea5t sinh l\u1ee3i tr\u00ean v\u1ed1n \u0111\u1ea7u t\u01b0 (ROIC) so v\u1edbi chi ph\u00ed v\u1ed1n b\u00ecnh qu\u00e2n (WACC)<\/td><\/tr><tr><td>Gi\u1ea3m thanh kho\u1ea3n<\/td><td>Sau c\u00e1c \u0111\u1ee3t mua l\u1ea1i l\u1edbn, nhi\u1ec1u c\u1ed5 phi\u1ebfu VN gi\u1ea3m m\u1ea1nh v\u1ec1 thanh kho\u1ea3n, kh\u00f3 mua\/b\u00e1n<\/td><td>Ch\u1ec9 \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 tr\u1ecb giao d\u1ecbch trung b\u00ecnh &gt;10 t\u1ef7 \u0111\u1ed3ng\/ng\u00e0y<\/td><\/tr><tr><td>Vay n\u1ee3 \u0111\u1ec3 mua l\u1ea1i<\/td><td>M\u1ed9t s\u1ed1 doanh nghi\u1ec7p b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 b\u00e1n l\u1ebb \u0111\u00e3 vay n\u1ee3 \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022-2023<\/td><td>Theo d\u00f5i t\u1ef7 l\u1ec7 n\u1ee3\/EBITDA v\u00e0 t\u1ef7 l\u1ec7 b\u1ea3o \u0111\u1ea3m l\u00e3i vay<\/td><\/tr><tr><td>\u0110\u1ecbnh gi\u00e1 cao khi mua l\u1ea1i<\/td><td>Nhi\u1ec1u c\u00f4ng ty mua l\u1ea1i v\u1edbi gi\u00e1 cao h\u01a1n 20-30% so v\u1edbi gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd<\/td><td>So s\u00e1nh gi\u00e1 mua v\u1edbi c\u00e1c m\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 nh\u01b0 DCF, P\/B, EV\/EBITDA<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t \u0111i\u1ec3m \u0111\u00e1ng ch\u00fa \u00fd trong b\u1ed1i c\u1ea3nh Vi\u1ec7t Nam l\u00e0 vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u00f4i khi ph\u1ea3n \u00e1nh s\u1ef1 thi\u1ebfu v\u1eafng c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 m\u1edbi hi\u1ec7u qu\u1ea3. Khi m\u1ed9t c\u00f4ng ty nh\u01b0 Vinamilk s\u1eed d\u1ee5ng h\u00e0ng ngh\u00ecn t\u1ef7 \u0111\u1ed3ng \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu thay v\u00ec m\u1edf r\u1ed9ng nh\u00e0 m\u00e1y ho\u1eb7c th\u00e2m nh\u1eadp th\u1ecb tr\u01b0\u1eddng m\u1edbi, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 cho th\u1ea5y tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng c\u1ee7a ng\u00e0nh \u0111\u00e3 ch\u1eadm l\u1ea1i. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u00e2n bi\u1ec7t r\u00f5 gi\u1eefa vi\u1ec7c mua l\u1ea1i do c\u1ed5 phi\u1ebfu b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p v\u00e0 mua l\u1ea1i do thi\u1ebfu chi\u1ebfn l\u01b0\u1ee3c ph\u00e1t tri\u1ec3n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t s\u1ed1 chuy\u00ean gia t\u00e0i ch\u00ednh t\u1ea1i Vi\u1ec7t Nam th\u1eadm ch\u00ed c\u00f2n b\u00e0y t\u1ecf quan \u0111i\u1ec3m tr\u00e1i ng\u01b0\u1ee3c r\u1eb1ng vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 qu\u00e1 m\u1ea1nh c\u00f3 th\u1ec3 khi\u1ebfn th\u1ecb tr\u01b0\u1eddng m\u1ea5t thanh kho\u1ea3n v\u00e0 \u0111a d\u1ea1ng, \u0111\u1eb7c bi\u1ec7t trong b\u1ed1i c\u1ea3nh nhi\u1ec1u c\u00f4ng ty ni\u00eam y\u1ebft v\u1eabn c\u00f3 t\u1ef7 l\u1ec7 t\u1ef1 do chuy\u1ec3n nh\u01b0\u1ee3ng th\u1ea5p. Tuy nhi\u00ean, \u0111\u00e2y l\u00e0 m\u1ed9t quan \u0111i\u1ec3m g\u00e2y tranh c\u00e3i v\u00e0 c\u1ea7n \u0111\u01b0\u1ee3c xem x\u00e9t theo t\u1eebng tr\u01b0\u1eddng h\u1ee3p c\u1ee5 th\u1ec3.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option cung c\u1ea5p c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch r\u1ee7i ro chuy\u00ean s\u00e2u cho c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u00f3 c\u00e1i nh\u00ecn \u0111a chi\u1ec1u v\u00e0 kh\u00e1ch quan. B\u00e1o c\u00e1o n\u00e0y \u0111\u00e1nh gi\u00e1 c\u00e1c y\u1ebfu t\u1ed1 t\u00e0i ch\u00ednh, qu\u1ea3n tr\u1ecb, v\u00e0 t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng, t\u1ea1o n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc cho c\u00e1c quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Khung ph\u00e1p l\u00fd v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam: Nh\u1eefng \u0111i\u1ec3m quan tr\u1ecdng c\u1ea7n l\u01b0u \u00fd<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>T\u1ea1i Vi\u1ec7t Nam, ho\u1ea1t \u0111\u1ed9ng c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh ch\u1eb7t ch\u1ebd b\u1edfi nhi\u1ec1u v\u0103n b\u1ea3n ph\u00e1p l\u00fd quan tr\u1ecdng. Khung ph\u00e1p l\u00fd n\u00e0y \u0111\u00e3 tr\u1ea3i qua nhi\u1ec1u thay \u0111\u1ed5i trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i h\u01a1n cho c\u00e1c ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Kh\u00eda c\u1ea1nh ph\u00e1p l\u00fd<\/th><th>Quy \u0111\u1ecbnh hi\u1ec7n h\u00e0nh t\u1ea1i Vi\u1ec7t Nam<\/th><th>So s\u00e1nh v\u1edbi quy \u0111\u1ecbnh qu\u1ed1c t\u1ebf<\/th><\/tr><\/thead><tbody><tr><td>Gi\u1edbi h\u1ea1n mua l\u1ea1i<\/td><td>T\u1ed1i \u0111a 30% t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u00e3 ph\u00e1t h\u00e0nh (Ngh\u1ecb \u0111\u1ecbnh 155\/2020\/N\u0110-CP)<\/td><td>Th\u00e1i Lan: 10%, Singapore: kh\u00f4ng gi\u1edbi h\u1ea1n, M\u1ef9: kh\u00f4ng gi\u1edbi h\u1ea1n<\/td><\/tr><tr><td>Th\u1eddi gian n\u1eafm gi\u1eef<\/td><td>Kh\u00f4ng gi\u1edbi h\u1ea1n th\u1eddi gian n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu qu\u1ef9 (kh\u00e1c v\u1edbi quy \u0111\u1ecbnh tr\u01b0\u1edbc 2020)<\/td><td>T\u01b0\u01a1ng t\u1ef1 h\u1ea7u h\u1ebft c\u00e1c th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n<\/td><\/tr><tr><td>Ph\u01b0\u01a1ng th\u1ee9c giao d\u1ecbch<\/td><td>B\u1eaft bu\u1ed9c qua s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n (kh\u1edbp l\u1ec7nh ho\u1eb7c th\u1ecfa thu\u1eadn)<\/td><td>Ch\u1eb7t ch\u1ebd h\u01a1n nhi\u1ec1u n\u01b0\u1edbc (M\u1ef9 cho ph\u00e9p mua b\u00e1n OTC, darkpool)<\/td><\/tr><tr><td>C\u00f4ng b\u1ed1 th\u00f4ng tin<\/td><td>C\u00f4ng b\u1ed1 tr\u01b0\u1edbc 20 ng\u00e0y, trong qu\u00e1 tr\u00ecnh, v\u00e0 sau khi ho\u00e0n t\u1ea5t (10 ng\u00e0y)<\/td><td>Chi ti\u1ebft h\u01a1n Th\u00e1i Lan v\u00e0 Malaysia, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng Singapore<\/td><\/tr><tr><td>Ngu\u1ed3n v\u1ed1n h\u1ee3p ph\u00e1p<\/td><td>Th\u1eb7ng d\u01b0 v\u1ed1n c\u1ed5 ph\u1ea7n, l\u1ee3i nhu\u1eadn sau thu\u1ebf ch\u01b0a ph\u00e2n ph\u1ed1i, qu\u1ef9 \u0111\u1ea7u t\u01b0 ph\u00e1t tri\u1ec3n, c\u00e1c ngu\u1ed3n v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu kh\u00e1c<\/td><td>T\u01b0\u01a1ng t\u1ef1 quy \u0111\u1ecbnh t\u1ea1i h\u1ea7u h\u1ebft c\u00e1c n\u01b0\u1edbc trong khu v\u1ef1c<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo Lu\u1eadt Ch\u1ee9ng kho\u00e1n 2019 v\u00e0 c\u00e1c v\u0103n b\u1ea3n h\u01b0\u1edbng d\u1eabn, c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 c\u1ed5 phi\u1ebfu kh\u00f4ng c\u00f3 quy\u1ec1n th\u00f4ng th\u01b0\u1eddng. C\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 \u0111\u01b0\u1ee3c nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng? Kh\u00f4ng, \u0111\u00e2y l\u00e0 quy \u0111\u1ecbnh r\u00f5 r\u00e0ng kh\u00f4ng c\u00f3 ngo\u1ea1i l\u1ec7. Ngo\u00e0i ra, c\u1ed5 phi\u1ebfu qu\u1ef9 kh\u00f4ng \u0111\u01b0\u1ee3c t\u00ednh v\u00e0o t\u1ef7 l\u1ec7 tham d\u1ef1 c\u1ee7a c\u1ed5 \u0111\u00f4ng \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh \u0111i\u1ec1u ki\u1ec7n ti\u1ebfn h\u00e0nh \u0110\u1ea1i h\u1ed9i \u0111\u1ed3ng c\u1ed5 \u0111\u00f4ng, v\u00e0 kh\u00f4ng \u0111\u01b0\u1ee3c ph\u00e9p chuy\u1ec3n nh\u01b0\u1ee3ng trong khi c\u00f4ng ty \u0111ang th\u1ef1c hi\u1ec7n c\u00e1c th\u1ee7 t\u1ee5c chia, t\u00e1ch, ho\u1eb7c h\u1ee3p nh\u1ea5t c\u1ed5 phi\u1ebfu.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t ph\u00e1t tri\u1ec3n \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 v\u00e0o th\u00e1ng 3 n\u0103m 2020, Ch\u00ednh ph\u1ee7 Vi\u1ec7t Nam \u0111\u00e3 ban h\u00e0nh Ngh\u1ecb \u0111\u1ecbnh 155\/2020\/N\u0110-CP thay th\u1ebf Ngh\u1ecb \u0111\u1ecbnh 58\/2012\/N\u0110-CP, n\u00e2ng gi\u1edbi h\u1ea1n mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1eeb 25% l\u00ean 30% v\u00e0 lo\u1ea1i b\u1ecf quy \u0111\u1ecbnh v\u1ec1 th\u1eddi gian n\u1eafm gi\u1eef t\u1ed1i \u0111a (tr\u01b0\u1edbc \u0111\u00e2y l\u00e0 1 n\u0103m). Nh\u1eefng thay \u0111\u1ed5i n\u00e0y \u0111\u00e3 t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i h\u01a1n cho c\u00e1c doanh nghi\u1ec7p th\u1ef1c hi\u1ec7n c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 quy m\u00f4 l\u1edbn v\u1edbi s\u1ef1 linh ho\u1ea1t cao h\u01a1n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option lu\u00f4n c\u1eadp nh\u1eadt nh\u1eefng thay \u0111\u1ed5i m\u1edbi nh\u1ea5t trong c\u00e1c quy \u0111\u1ecbnh ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 theo k\u1ecbp c\u00e1c \u0111i\u1ec1u ch\u1ec9nh c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0. Th\u00f4ng qua n\u1ec1n t\u1ea3ng n\u00e0y, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn c\u00e1c ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c thay \u0111\u1ed5i ph\u00e1p l\u00fd \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: C\u1ed5 phi\u1ebfu qu\u1ef9 v\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00f4ng minh cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? Ch\u00fang l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh quan tr\u1ecdng m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u1ea7n n\u1eafm v\u1eefng \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3 trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng v\u1eabn c\u00f2n nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng. Th\u00f4ng qua ph\u00e2n t\u00edch s\u00e2u s\u1eafc, ch\u00fang ta \u0111\u00e3 th\u1ea5y r\u00f5 t\u00e1c \u0111\u1ed9ng \u0111a chi\u1ec1u c\u1ee7a c\u00e1c ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn gi\u00e1 tr\u1ecb doanh nghi\u1ec7p v\u00e0 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u1eefng \u0111i\u1ec3m ch\u00ednh m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam n\u00ean nh\u1edb v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 bao g\u1ed3m:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh v\u00e0 sau \u0111\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng ty mua l\u1ea1i, kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft v\u00e0 kh\u00f4ng \u0111\u01b0\u1ee3c h\u01b0\u1edfng c\u1ed5 t\u1ee9c<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh nh\u01b0 EPS, ROE, v\u00e0 P\/E, t\u1ea1o ra gi\u00e1 tr\u1ecb cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ea1i Vi\u1ec7t Nam, ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u00e3 tr\u1edf n\u00ean ph\u1ed5 bi\u1ebfn h\u01a1n, \u0111\u1eb7c bi\u1ec7t trong c\u00e1c giai \u0111o\u1ea1n \u0111i\u1ec1u ch\u1ec9nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i quy m\u00f4 l\u1edbn (&gt;5% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh) th\u01b0\u1eddng mang l\u1ea1i t\u00e1c \u0111\u1ed9ng t\u00edch c\u1ef1c \u0111\u00e1ng k\u1ec3 \u0111\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u00e2n t\u00edch k\u1ef9 \u0111\u1ed9ng c\u01a1, quy m\u00f4, v\u00e0 ngu\u1ed3n v\u1ed1n cho vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 tr\u01b0\u1edbc khi \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam ng\u00e0y c\u00e0ng tr\u01b0\u1edfng th\u00e0nh v\u1edbi s\u1ef1 tham gia c\u1ee7a nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c v\u00e0 n\u01b0\u1edbc ngo\u00e0i, vi\u1ec7c hi\u1ec3u v\u00e0 t\u1eadn d\u1ee5ng th\u00f4ng tin v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 s\u1ebd t\u1ea1o ra l\u1ee3i th\u1ebf c\u1ea1nh tranh \u0111\u00e1ng k\u1ec3. Pocket Option cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch chuy\u00ean s\u00e2u to\u00e0n di\u1ec7n v\u00e0 c\u1eadp nh\u1eadt th\u1eddi gian th\u1ef1c v\u1ec1 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam \u0111\u01b0a ra c\u00e1c quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 s\u00e1ng su\u1ed1t v\u00e0 k\u1ecbp th\u1eddi.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>H\u00e3y nh\u1edb r\u1eb1ng kh\u00f4ng c\u00f3 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 n\u00e0o l\u00e0 ho\u00e0n h\u1ea3o cho t\u1ea5t c\u1ea3 m\u1ecdi ng\u01b0\u1eddi. M\u1ed7i nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n x\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c ri\u00eang d\u1ef1a tr\u00ean m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh, kh\u1ea3 n\u0103ng ch\u1ea5p nh\u1eadn r\u1ee7i ro, v\u00e0 th\u1eddi gian \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh. Tuy nhi\u00ean, trong b\u1ed9 c\u00f4ng c\u1ee5 ki\u1ebfn th\u1ee9c c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, s\u1ef1 hi\u1ec3u bi\u1ebft s\u00e2u s\u1eafc v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00fang l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 kh\u00f4ng th\u1ec3 thi\u1ebfu, \u0111\u1eb7c bi\u1ec7t trong giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng hi\u1ec7n nay.<\/p><\/div>[cta_button text=\"\"]","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? \u0110\u1ecbnh ngh\u0129a v\u00e0 \u0111\u1eb7c \u0111i\u1ec3m c\u01a1 b\u1ea3n tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? \u0110\u00e2y l\u00e0 c\u00e2u h\u1ecfi m\u00e0 nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam th\u01b0\u1eddng \u0111\u1eb7t ra khi t\u00ecm hi\u1ec3u v\u1ec1 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. N\u00f3i m\u1ed9t c\u00e1ch \u0111\u01a1n gi\u1ea3n, c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh v\u00e0 sau \u0111\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng ty ph\u00e1t h\u00e0nh mua l\u1ea1i t\u1eeb th\u1ecb tr\u01b0\u1eddng. Sau khi mua l\u1ea1i, nh\u1eefng c\u1ed5 phi\u1ebfu n\u00e0y kh\u00f4ng b\u1ecb h\u1ee7y b\u1ecf m\u00e0 \u0111\u01b0\u1ee3c c\u00f4ng ty gi\u1eef l\u1ea1i cho c\u00e1c m\u1ee5c \u0111\u00edch chi\u1ebfn l\u01b0\u1ee3c kh\u00e1c trong t\u01b0\u01a1ng lai.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>T\u1ea1i Vi\u1ec7t Nam, ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u00e3 tr\u1edf n\u00ean \u0111\u1eb7c bi\u1ec7t ph\u1ed5 bi\u1ebfn t\u1eeb n\u0103m 2020 \u0111\u1ebfn nay, khi nhi\u1ec1u doanh nghi\u1ec7p l\u1edbn nh\u01b0 Vingroup, FPT, v\u00e0 Masan nh\u1eadn th\u1ea5y gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a h\u1ecd b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p h\u01a1n so v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i. Theo d\u1eef li\u1ec7u t\u1eeb S\u1edf Giao d\u1ecbch Ch\u1ee9ng kho\u00e1n TP.HCM (HOSE), t\u1ed5ng gi\u00e1 tr\u1ecb c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft \u0111\u00e3 t\u0103ng 27% v\u00e0o n\u0103m 2023 so v\u1edbi n\u0103m tr\u01b0\u1edbc \u0111\u00f3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t v\u1edbi nh\u1eefng \u0111\u1eb7c \u0111i\u1ec3m quan tr\u1ecdng m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u1ea7n hi\u1ec3u r\u00f5:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft t\u1ea1i c\u00e1c cu\u1ed9c h\u1ecdp c\u1ed5 \u0111\u00f4ng th\u01b0\u1eddng ni\u00ean ho\u1eb7c b\u1ea5t th\u01b0\u1eddng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng c\u00f3 quy\u1ec1n nh\u1eadn c\u1ed5 t\u1ee9c b\u1eb1ng ti\u1ec1n m\u1eb7t ho\u1eb7c c\u1ed5 phi\u1ebfu<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u00f4ng \u0111\u01b0\u1ee3c t\u00ednh v\u00e0o s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh khi t\u00ednh to\u00e1n c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh l\u1ea1i cho nh\u00e0 \u0111\u1ea7u t\u01b0 ho\u1eb7c ph\u00e2n ph\u1ed1i cho nh\u00e2n vi\u00ean th\u00f4ng qua c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh ESOP<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u1ea2nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh quan tr\u1ecdng nh\u01b0 EPS (L\u1ee3i nhu\u1eadn tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu) v\u00e0 ROE (L\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi m\u1ed9t c\u00f4ng ty quy\u1ebft \u0111\u1ecbnh mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a ch\u00ednh m\u00ecnh, s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu l\u01b0u h\u00e0nh tr\u00ean th\u1ecb tr\u01b0\u1eddng s\u1ebd gi\u1ea3m. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra hi\u1ec7u \u1ee9ng t\u00edch c\u1ef1c \u0111\u1ed1i v\u1edbi gi\u00e1 tr\u1ecb c\u1ee7a c\u00f4ng ty v\u00e0 l\u1ee3i \u00edch c\u1ee7a c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu, \u0111\u1eb7c bi\u1ec7t trong \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam v\u1eabn \u0111ang tr\u1ea3i qua nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng v\u00e0 ch\u01b0a th\u1ef1c s\u1ef1 hi\u1ec7u qu\u1ea3 trong vi\u1ec7c \u0111\u1ecbnh gi\u00e1 doanh nghi\u1ec7p.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>T\u1ea1i sao doanh nghi\u1ec7p Vi\u1ec7t Nam mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>T\u1ea1i sao c\u00e1c c\u00f4ng ty Vi\u1ec7t Nam ng\u00e0y c\u00e0ng quan t\u00e2m \u0111\u1ebfn vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a ch\u00ednh m\u00ecnh? L\u00fd do kh\u00f4ng ch\u1ec9 n\u1eb1m \u1edf c\u00e1c kh\u00eda c\u1ea1nh t\u00e0i ch\u00ednh thu\u1ea7n t\u00fay m\u00e0 c\u00f2n li\u00ean quan \u0111\u1ebfn chi\u1ebfn l\u01b0\u1ee3c ph\u00e1t tri\u1ec3n d\u00e0i h\u1ea1n v\u00e0 b\u1ed1i c\u1ea3nh c\u1ea1nh tranh c\u1ee5 th\u1ec3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>L\u00fd do<\/th>\n<th>M\u00f4 t\u1ea3 chi ti\u1ebft<\/th>\n<th>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf t\u1ea1i Vi\u1ec7t Nam<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u0103ng c\u01b0\u1eddng EPS<\/td>\n<td>Gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh, t\u0103ng l\u1ee3i nhu\u1eadn tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu, l\u00e0m cho c\u1ed5 phi\u1ebfu h\u1ea5p d\u1eabn h\u01a1n<\/td>\n<td>FPT mua l\u1ea1i 2,56 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 trong Q2\/2023, EPS t\u0103ng 8,2% sau \u0111\u00f3<\/td>\n<\/tr>\n<tr>\n<td>H\u1ed7 tr\u1ee3 gi\u00e1 c\u1ed5 phi\u1ebfu<\/td>\n<td>T\u1ea1o th\u00eam nhu c\u1ea7u khi gi\u00e1 c\u1ed5 phi\u1ebfu b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p, ng\u0103n ch\u1eb7n s\u1ef1 gi\u1ea3m gi\u00e1 qu\u00e1 m\u1ee9c<\/td>\n<td>Vinamilk (VNM) mua 22,9 tri\u1ec7u c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022-2023, gi\u00e1 \u1ed5n \u0111\u1ecbnh sau \u0111\u00f3<\/td>\n<\/tr>\n<tr>\n<td>Ng\u0103n ch\u1eb7n th\u00e2u t\u00f3m<\/td>\n<td>Gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng, l\u00e0m cho vi\u1ec7c th\u00e2u t\u00f3m kh\u00f4ng mong mu\u1ed1n tr\u1edf n\u00ean kh\u00f3 kh\u0103n h\u01a1n<\/td>\n<td>Nhi\u1ec1u doanh nghi\u1ec7p nh\u01b0 REE, H\u00f2a Ph\u00e1t \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c n\u00e0y trong b\u1ed1i c\u1ea3nh m\u1edf c\u1eeda th\u1ecb tr\u01b0\u1eddng cho nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i<\/td>\n<\/tr>\n<tr>\n<td>Ph\u00e2n ph\u1ed1i cho nh\u00e2n vi\u00ean<\/td>\n<td>S\u1eed d\u1ee5ng l\u00e0m c\u1ed5 phi\u1ebfu th\u01b0\u1edfng ho\u1eb7c ESOP \u0111\u1ec3 thu h\u00fat v\u00e0 gi\u1eef ch\u00e2n nh\u00e2n t\u00e0i<\/td>\n<td>T\u1eadp \u0111o\u00e0n Masan v\u00e0 Techcombank s\u1eed d\u1ee5ng c\u1ed5 phi\u1ebfu qu\u1ef9 cho c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh ESOP quy m\u00f4 l\u1edbn trong 2023<\/td>\n<\/tr>\n<tr>\n<td>T\u00e1i c\u1ea5u tr\u00fac v\u1ed1n<\/td>\n<td>T\u1ed1i \u01b0u h\u00f3a c\u1ea5u tr\u00fac v\u1ed1n, c\u00e2n b\u1eb1ng gi\u1eefa v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu v\u00e0 n\u1ee3<\/td>\n<td>Vingroup (VIC) mua l\u1ea1i 10 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022 trong qu\u00e1 tr\u00ecnh t\u00e1i c\u1ea5u tr\u00fac c\u1ee7a t\u1eadp \u0111o\u00e0n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u00e1ng ch\u00fa \u00fd, trong b\u1ed1i c\u1ea3nh th\u00e1ch th\u1ee9c kinh t\u1ebf v\u0129 m\u00f4 c\u1ee7a Vi\u1ec7t Nam trong 2022-2023, nhi\u1ec1u c\u00f4ng ty l\u1edbn nh\u01b0 Vinamilk (VNM), FPT, v\u00e0 T\u1eadp \u0111o\u00e0n Masan \u0111\u00e3 th\u1ef1c hi\u1ec7n c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu quy m\u00f4 l\u1edbn. Vinamilk \u0111\u00e3 chi kho\u1ea3ng 2.500 t\u1ef7 \u0111\u1ed3ng \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu, trong khi FPT mua l\u1ea1i h\u01a1n 3 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 v\u1edbi gi\u00e1 tr\u1ecb v\u01b0\u1ee3t qu\u00e1 300 t\u1ef7 \u0111\u1ed3ng. Nh\u1eefng \u0111\u1ed9ng th\u00e1i n\u00e0y kh\u00f4ng ch\u1ec9 gi\u00fap \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu m\u00e0 c\u00f2n g\u1eedi \u0111i t\u00edn hi\u1ec7u m\u1ea1nh m\u1ebd v\u1ec1 s\u1ef1 t\u1ef1 tin c\u1ee7a l\u00e3nh \u0111\u1ea1o v\u00e0o tri\u1ec3n v\u1ecdng d\u00e0i h\u1ea1n c\u1ee7a c\u00f4ng ty.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Quy tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9, c\u00e1c c\u00f4ng ty Vi\u1ec7t Nam ph\u1ea3i tu\u00e2n theo m\u1ed9t quy tr\u00ecnh nghi\u00eam ng\u1eb7t theo Ngh\u1ecb \u0111\u1ecbnh 155\/2020\/N\u0110-CP v\u00e0 Th\u00f4ng t\u01b0 96\/2020\/TT-BTC c\u1ee7a B\u1ed9 T\u00e0i ch\u00ednh. Hi\u1ec3u r\u00f5 quy tr\u00ecnh n\u00e0y gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eadn di\u1ec7n s\u1ef1 minh b\u1ea1ch trong ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>C\u00e1c b\u01b0\u1edbc th\u1ef1c hi\u1ec7n mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 1: H\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb h\u1ecdp v\u00e0 \u0111\u1ec1 xu\u1ea5t k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu chi ti\u1ebft<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 2: \u0110\u1ea1i h\u1ed9i \u0111\u1ed3ng c\u1ed5 \u0111\u00f4ng th\u00f4ng qua ngh\u1ecb quy\u1ebft v\u1ec1 vi\u1ec7c mua l\u1ea1i (ho\u1eb7c H\u0110QT quy\u1ebft \u0111\u1ecbnh n\u1ebfu d\u01b0\u1edbi 10% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 3: C\u00f4ng b\u1ed1 th\u00f4ng tin v\u1ec1 k\u1ebf ho\u1ea1ch mua l\u1ea1i \u00edt nh\u1ea5t 20 ng\u00e0y tr\u01b0\u1edbc ng\u00e0y giao d\u1ecbch \u0111\u1ea7u ti\u00ean<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 4: N\u1ed9p h\u1ed3 s\u01a1 \u0111\u0103ng k\u00fd mua l\u1ea1i c\u1ed5 phi\u1ebfu l\u00ean \u1ee6y ban Ch\u1ee9ng kho\u00e1n Nh\u00e0 n\u01b0\u1edbc v\u00e0 ch\u1edd ph\u1ea3n h\u1ed3i<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 5: Th\u1ef1c hi\u1ec7n giao d\u1ecbch mua trong th\u1eddi gian t\u1ed1i \u0111a 30 ng\u00e0y k\u1ec3 t\u1eeb ng\u00e0y b\u1eaft \u0111\u1ea7u<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u01b0\u1edbc 6: B\u00e1o c\u00e1o k\u1ebft qu\u1ea3 giao d\u1ecbch trong v\u00f2ng 10 ng\u00e0y sau khi ho\u00e0n t\u1ea5t<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo quy \u0111\u1ecbnh hi\u1ec7n h\u00e0nh, c\u00e1c c\u00f4ng ty Vi\u1ec7t Nam ch\u1ec9 \u0111\u01b0\u1ee3c ph\u00e9p mua l\u1ea1i t\u1ed1i \u0111a 30% t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u00e3 ph\u00e1t h\u00e0nh (tr\u01b0\u1edbc \u0111\u00e2y l\u00e0 25%). Vi\u1ec7c mua l\u1ea1i ph\u1ea3i \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n c\u00f4ng khai qua s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n (th\u00f4ng qua kh\u1edbp l\u1ec7nh ho\u1eb7c th\u1ecfa thu\u1eadn), tuy\u1ec7t \u0111\u1ed1i kh\u00f4ng \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n ngo\u00e0i s\u00e0n \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o t\u00ednh minh b\u1ea1ch.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option cung c\u1ea5p cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u00f4ng c\u1ee5 &#8220;Treasury Stock Alert&#8221; \u0111\u1ed9c quy\u1ec1n gi\u00fap theo d\u00f5i th\u00f4ng tin th\u1eddi gian th\u1ef1c v\u1ec1 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a h\u01a1n 1.500 c\u00f4ng ty ni\u00eam y\u1ebft. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 thi\u1ebft l\u1eadp c\u1ea3nh b\u00e1o t\u1ef1 \u0111\u1ed9ng khi c\u00e1c c\u00f4ng ty l\u1edbn c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i, gi\u00fap n\u1eafm b\u1eaft c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc khi th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u1ee9ng \u0111\u1ea7y \u0111\u1ee7. Pocket Option c\u0169ng cung c\u1ea5p c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>T\u00e1c \u0111\u1ed9ng c\u1ee7a c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ee7a doanh nghi\u1ec7p Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn nhi\u1ec1u ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh quan tr\u1ecdng c\u1ee7a doanh nghi\u1ec7p. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam, hi\u1ec3u r\u00f5 nh\u1eefng t\u00e1c \u0111\u1ed9ng n\u00e0y gi\u00fap \u0111\u00e1nh gi\u00e1 ch\u00ednh x\u00e1c h\u01a1n gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a doanh nghi\u1ec7p, \u0111\u1eb7c bi\u1ec7t trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng c\u00f3 nhi\u1ec1u b\u1ea5t c\u00e2n x\u1ee9ng th\u00f4ng tin nh\u01b0 Vi\u1ec7t Nam.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 s\u1ed1<\/th>\n<th>T\u00e1c \u0111\u1ed9ng c\u1ee7a C\u1ed5 phi\u1ebfu Qu\u1ef9<\/th>\n<th>V\u00ed d\u1ee5 t\u1eeb Doanh nghi\u1ec7p Vi\u1ec7t Nam<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>EPS (L\u1ee3i nhu\u1eadn tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu)<\/td>\n<td>T\u0103ng khi s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh gi\u1ea3m, ngay c\u1ea3 khi l\u1ee3i nhu\u1eadn kh\u00f4ng \u0111\u1ed5i<\/td>\n<td>MWG mua l\u1ea1i 2,35 tri\u1ec7u c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022, EPS Q4\/2022 t\u0103ng 4,7% d\u00f9 l\u1ee3i nhu\u1eadn gi\u1ea3m nh\u1eb9<\/td>\n<\/tr>\n<tr>\n<td>P\/E (Gi\u00e1 tr\u00ean L\u1ee3i nhu\u1eadn)<\/td>\n<td>Gi\u1ea3m khi EPS t\u0103ng (n\u1ebfu gi\u00e1 kh\u00f4ng \u0111\u1ed5i), l\u00e0m cho c\u1ed5 phi\u1ebfu c\u00f3 v\u1ebb &#8220;r\u1ebb&#8221; h\u01a1n<\/td>\n<td>FPT sau ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu trong 2023 c\u00f3 P\/E gi\u1ea3m t\u1eeb 18,5 xu\u1ed1ng 17,2<\/td>\n<\/tr>\n<tr>\n<td>ROE (L\u1ee3i nhu\u1eadn tr\u00ean V\u1ed1n ch\u1ee7 s\u1edf h\u1eefu)<\/td>\n<td>T\u0103ng khi v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu gi\u1ea3m do mua l\u1ea1i c\u1ed5 phi\u1ebfu<\/td>\n<td>Vinamilk (VNM) ghi nh\u1eadn ROE t\u0103ng t\u1eeb 25,8% l\u00ean 27,3% sau khi mua l\u1ea1i c\u1ed5 phi\u1ebfu trong 2023<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu<\/td>\n<td>Thay \u0111\u1ed5i t\u00f9y thu\u1ed9c v\u00e0o gi\u00e1 mua l\u1ea1i so v\u1edbi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch hi\u1ec7n t\u1ea1i<\/td>\n<td>PNJ mua l\u1ea1i c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 cao h\u01a1n 15% so v\u1edbi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch, l\u00e0m gi\u1ea3m nh\u1eb9 BVPS<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/td>\n<td>T\u0103ng khi t\u1ed5ng c\u1ed5 t\u1ee9c kh\u00f4ng \u0111\u1ed5i nh\u01b0ng s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu nh\u1eadn c\u1ed5 t\u1ee9c gi\u1ea3m<\/td>\n<td>REE t\u0103ng l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c t\u1eeb 3,8% l\u00ean 4,2% sau ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i 2023<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam th\u01b0\u1eddng th\u1eafc m\u1eafc: &#8220;C\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 \u0111\u01b0\u1ee3c nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng?&#8221; C\u00e2u tr\u1ea3 l\u1eddi l\u00e0 ho\u00e0n to\u00e0n kh\u00f4ng. C\u1ed5 phi\u1ebfu qu\u1ef9 kh\u00f4ng nh\u1eadn b\u1ea5t k\u1ef3 c\u1ed5 t\u1ee9c n\u00e0o, d\u00f9 l\u00e0 ti\u1ec1n m\u1eb7t hay c\u1ed5 phi\u1ebfu. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra l\u1ee3i th\u1ebf cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu &#8211; khi t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c h\u01b0\u1edfng c\u1ed5 t\u1ee9c gi\u1ea3m, c\u00e1c c\u00f4ng ty c\u00f3 th\u1ec3 t\u0103ng t\u1ef7 l\u1ec7 chi tr\u1ea3 c\u1ed5 t\u1ee9c tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu m\u00e0 kh\u00f4ng t\u0103ng t\u1ed5ng chi ph\u00ed.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 hi\u1ec3u r\u00f5 h\u01a1n, h\u00e3y xem x\u00e9t tr\u01b0\u1eddng h\u1ee3p c\u1ee7a C\u00f4ng ty C\u1ed5 ph\u1ea7n Vinhomes (VHM) trong n\u0103m 2023. VHM c\u00f3 4,35 t\u1ef7 c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh, v\u1edbi l\u1ee3i nhu\u1eadn sau thu\u1ebf l\u00e0 29.000 t\u1ef7 \u0111\u1ed3ng, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng EPS l\u00e0 6.667 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu. C\u00f4ng ty \u0111\u00e3 mua l\u1ea1i 300 tri\u1ec7u c\u1ed5 phi\u1ebfu l\u00e0m c\u1ed5 phi\u1ebfu qu\u1ef9, gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh xu\u1ed1ng c\u00f2n 4,05 t\u1ef7. V\u1edbi l\u1ee3i nhu\u1eadn kh\u00f4ng \u0111\u1ed5i, EPS m\u1edbi t\u0103ng l\u00ean 7.160 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu, t\u0103ng 7,4%. \u0110i\u1ec1u n\u00e0y g\u00f3p ph\u1ea7n t\u0103ng s\u1ee9c h\u1ea5p d\u1eabn c\u1ee7a c\u1ed5 phi\u1ebfu VHM tr\u00ean th\u1ecb tr\u01b0\u1eddng, ngay c\u1ea3 trong b\u1ed1i c\u1ea3nh ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n \u0111ang \u0111\u1ed1i m\u1eb7t v\u1edbi nhi\u1ec1u kh\u00f3 kh\u0103n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option cung c\u1ea5p c\u00f4ng c\u1ee5 &#8220;EPS Impact Calculator&#8221; \u0111\u1ed9c \u0111\u00e1o gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam d\u1ec5 d\u00e0ng t\u00ednh to\u00e1n t\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn EPS v\u00e0 c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh kh\u00e1c c\u1ee7a doanh nghi\u1ec7p. C\u00f4ng c\u1ee5 n\u00e0y \u0111\u1eb7c bi\u1ec7t h\u1eefu \u00edch khi \u0111\u00e1nh gi\u00e1 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty v\u1eeba c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u1ed5 phi\u1ebfu qu\u1ef9 v\u00e0 m\u1ed1i quan h\u1ec7 v\u1edbi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec v\u00e0 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u00e3 tr\u1edf th\u00e0nh m\u1ed9t ch\u1ec9 s\u1ed1 quan tr\u1ecdng v\u1ec1 t\u00e2m l\u00fd v\u00e0 \u0111\u1ecbnh h\u01b0\u1edbng c\u1ee7a doanh nghi\u1ec7p. Xu h\u01b0\u1edbng n\u00e0y ng\u00e0y c\u00e0ng r\u00f5 n\u00e9t, \u0111\u1eb7c bi\u1ec7t trong c\u00e1c giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng nh\u01b0 chu k\u1ef3 2020-2023.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng<\/th>\n<th>Xu h\u01b0\u1edbng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/th>\n<th>\u00dd ngh\u0129a \u0111\u1ed1i v\u1edbi chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Th\u1ecb tr\u01b0\u1eddng gi\u1ea3m m\u1ea1nh (VN-Index -30%)<\/td>\n<td>72% c\u00e1c c\u00f4ng ty l\u1edbn (Top 50) th\u1ef1c hi\u1ec7n ho\u1eb7c c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i<\/td>\n<td>T\u00edn hi\u1ec7u mua m\u1ea1nh &#8211; l\u00e3nh \u0111\u1ea1o tin r\u1eb1ng gi\u00e1 d\u01b0\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i<\/td>\n<\/tr>\n<tr>\n<td>Th\u1ecb tr\u01b0\u1eddng \u0111i ngang (VN-Index \u00b110%)<\/td>\n<td>35% c\u00f4ng ty th\u1ef1c hi\u1ec7n mua l\u1ea1i c\u00f3 ch\u1ecdn l\u1ecdc, th\u01b0\u1eddng l\u00e0 doanh nghi\u1ec7p c\u00f3 t\u00e0i ch\u00ednh m\u1ea1nh<\/td>\n<td>C\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ch\u1ecdn l\u1ecdc v\u00e0o doanh nghi\u1ec7p ch\u1ea5t l\u01b0\u1ee3ng cao<\/td>\n<\/tr>\n<tr>\n<td>Th\u1ecb tr\u01b0\u1eddng t\u0103ng m\u1ea1nh (VN-Index +25%)<\/td>\n<td>Ch\u1ec9 15% c\u00f4ng ty mua l\u1ea1i, 22% c\u00f4ng ty b\u00e1n c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ec3 huy \u0111\u1ed9ng v\u1ed1n<\/td>\n<td>C\u1ea3nh b\u00e1o th\u1eadn tr\u1ecdng &#8211; l\u00e3nh \u0111\u1ea1o c\u00f3 th\u1ec3 tin r\u1eb1ng c\u1ed5 phi\u1ebfu \u0111ang \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 cao<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb S\u1edf Giao d\u1ecbch Ch\u1ee9ng kho\u00e1n TP.HCM cho th\u1ea5y trong giai \u0111o\u1ea1n VN-Index gi\u1ea3m m\u1ea1nh t\u1eeb th\u00e1ng 4\/2022 \u0111\u1ebfn th\u00e1ng 11\/2022 (gi\u1ea3m g\u1ea7n 40%), 78 c\u00f4ng ty ni\u00eam y\u1ebft \u0111\u00e3 th\u1ef1c hi\u1ec7n mua l\u1ea1i c\u1ed5 phi\u1ebfu v\u1edbi t\u1ed5ng gi\u00e1 tr\u1ecb l\u00ean t\u1edbi 12.500 t\u1ef7 \u0111\u1ed3ng. C\u00e1c doanh nghi\u1ec7p l\u1edbn nh\u01b0 Vingroup (VIC), Vinhomes (VHM), FPT, MWG, v\u00e0 H\u00f2a Ph\u00e1t (HPG) \u0111\u1ec1u t\u00edch c\u1ef1c th\u1ef1c hi\u1ec7n c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i quy m\u00f4 l\u1edbn. \u0110\u00e1ng ch\u00fa \u00fd, sau khi c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh n\u00e0y ho\u00e0n t\u1ea5t, gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a 82% c\u00e1c c\u00f4ng ty n\u00e0y ph\u1ee5c h\u1ed3i t\u1ed1t h\u01a1n m\u1ee9c trung b\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng trong 6 th\u00e1ng ti\u1ebfp theo.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh t\u1ea1i Vi\u1ec7t Nam n\u00ean \u0111\u1eb7c bi\u1ec7t ch\u00fa \u00fd \u0111\u1ebfn th\u00f4ng tin v\u1ec1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft. \u0110\u1eb7c bi\u1ec7t, h\u1ecd n\u00ean ph\u00e2n t\u00edch k\u1ef9 c\u00e1c y\u1ebfu t\u1ed1 sau: (1) quy m\u00f4 mua l\u1ea1i so v\u1edbi t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu, (2) ngu\u1ed3n v\u1ed1n s\u1eed d\u1ee5ng \u0111\u1ec3 mua l\u1ea1i, (3) gi\u00e1 mua d\u1ef1 ki\u1ebfn so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng v\u00e0 gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i, v\u00e0 (4) th\u1eddi gian th\u1ef1c hi\u1ec7n. Th\u00f4ng tin n\u00e0y th\u01b0\u1eddng ph\u1ea3n \u00e1nh quan \u0111i\u1ec3m th\u1ef1c s\u1ef1 c\u1ee7a l\u00e3nh \u0111\u1ea1o v\u1ec1 gi\u00e1 tr\u1ecb v\u00e0 tri\u1ec3n v\u1ecdng c\u1ee7a doanh nghi\u1ec7p.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00f4ng minh li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u00f3 th\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3 d\u1ef1a tr\u00ean s\u1ef1 hi\u1ec3u bi\u1ebft s\u00e2u s\u1eafc v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec v\u00e0 \u00fd ngh\u0129a c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i. Nh\u1eefng chi\u1ebfn l\u01b0\u1ee3c n\u00e0y c\u1ea7n \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh \u0111\u1ec3 ph\u00f9 h\u1ee3p v\u1edbi \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam &#8211; n\u01a1i th\u00f4ng tin ch\u01b0a th\u1ef1c s\u1ef1 \u0111\u1ed1i x\u1ee9ng v\u00e0 ph\u1ea3n \u1ee9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u00f4i khi kh\u00f4ng ho\u00e0n to\u00e0n hi\u1ec7u qu\u1ea3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ph\u01b0\u01a1ng ph\u00e1p hi\u1ec7u qu\u1ea3 \u0111\u1ec3 ph\u00e2n t\u00edch th\u00f4ng tin mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Theo d\u00f5i s\u00e1t l\u1ecbch c\u00f4ng b\u1ed1 th\u00f4ng tin c\u1ee7a SSC v\u1ec1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u00e1nh gi\u00e1 t\u1ef7 l\u1ec7 mua l\u1ea1i (tr\u00ean 5% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh th\u01b0\u1eddng c\u00f3 t\u00e1c \u0111\u1ed9ng m\u1ea1nh)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n t\u00edch t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh, \u0111\u1eb7c bi\u1ec7t l\u00e0 ti\u1ec1n m\u1eb7t v\u00e0 \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>So s\u00e1nh gi\u00e1 mua l\u1ea1i d\u1ef1 ki\u1ebfn v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i t\u00ednh to\u00e1n b\u1eb1ng c\u00e1c m\u00f4 h\u00ecnh DCF, FCFF, ho\u1eb7c P\/B<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Xem x\u00e9t l\u1ecbch s\u1eed mua l\u1ea1i v\u00e0 ph\u00e1t h\u00e0nh l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00f4ng ty trong 3-5 n\u0103m g\u1ea7n \u0111\u00e2y<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0<\/th>\n<th>Ph\u01b0\u01a1ng ph\u00e1p th\u1ef1c hi\u1ec7n t\u1ea1i Vi\u1ec7t Nam<\/th>\n<th>\u0110i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng ph\u00f9 h\u1ee3p<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Mua tr\u01b0\u1edbc khi c\u00f4ng b\u1ed1 ch\u00ednh th\u1ee9c<\/td>\n<td>L\u1ecdc c\u00e1c c\u00f4ng ty c\u00f3 t\u1ef7 l\u1ec7 gi\u00e1 tr\u00ean s\u1ed5 s\u00e1ch (P\/B) d\u01b0\u1edbi 1, d\u00f2ng ti\u1ec1n d\u01b0\u01a1ng l\u1edbn, v\u00e0 l\u1ecbch s\u1eed mua l\u1ea1i t\u00edch c\u1ef1c<\/td>\n<td>Th\u1ecb tr\u01b0\u1eddng gi\u1ea3m h\u01a1n 20%, P\/E trung b\u00ecnh ng\u00e0nh d\u01b0\u1edbi m\u1ee9c l\u1ecbch s\u1eed 5 n\u0103m<\/td>\n<\/tr>\n<tr>\n<td>Mua ngay sau khi c\u00f4ng b\u1ed1 ch\u00ednh th\u1ee9c<\/td>\n<td>Ph\u1ea3n \u1ee9ng nhanh trong v\u00f2ng 1-2 ng\u00e0y sau khi c\u00f4ng ty c\u00f4ng b\u1ed1 ngh\u1ecb quy\u1ebft H\u0110QT\/\u0110H\u0110C\u0110 v\u1ec1 mua l\u1ea1i<\/td>\n<td>K\u1ebf ho\u1ea1ch mua l\u1ea1i quy m\u00f4 l\u1edbn (&gt;7% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh), c\u00f4ng ty c\u00f3 n\u0103ng l\u1ef1c t\u00e0i ch\u00ednh m\u1ea1nh<\/td>\n<\/tr>\n<tr>\n<td>Mua trong su\u1ed1t qu\u00e1 tr\u00ecnh mua l\u1ea1i<\/td>\n<td>Theo d\u00f5i b\u00e1o c\u00e1o giao d\u1ecbch h\u00e0ng ng\u00e0y, mua khi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch t\u0103ng \u0111\u1ed9t bi\u1ebfn<\/td>\n<td>Thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng \u0111\u1ee7 l\u1edbn, c\u00f4ng ty mua v\u1edbi t\u1ed1c \u0111\u1ed9 \u1ed5n \u0111\u1ecbnh trong th\u1eddi gian d\u00e0i<\/td>\n<\/tr>\n<tr>\n<td>Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n<\/td>\n<td>T\u1eadp trung v\u00e0o c\u00e1c c\u00f4ng ty \u0111\u00e3 ho\u00e0n t\u1ea5t ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i v\u00e0 c\u00f3 k\u1ebf ho\u1ea1ch ph\u00e1t tri\u1ec3n r\u00f5 r\u00e0ng<\/td>\n<td>C\u00f4ng ty c\u00f3 n\u1ec1n t\u1ea3ng t\u1ed1t, ROE &gt;15%, t\u1ef7 l\u1ec7 n\u1ee3 tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu th\u1ea5p, ng\u00e0nh c\u00f3 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t mang l\u1ea1i th\u00f4ng tin gi\u00e1 tr\u1ecb cho nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh t\u1ea1i Vi\u1ec7t Nam. Khi hi\u1ec3u \u0111\u00fang v\u00e0 \u0111\u1ea7y \u0111\u1ee7 \u00fd ngh\u0129a c\u1ee7a c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 kh\u00e1m ph\u00e1 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc khi th\u1ecb tr\u01b0\u1eddng ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 th\u00f4ng tin. \u0110i\u1ec1u n\u00e0y \u0111\u1eb7c bi\u1ec7t quan tr\u1ecdng trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, n\u01a1i v\u1eabn c\u00f2n nhi\u1ec1u b\u1ea5t c\u00e2n x\u1ee9ng th\u00f4ng tin v\u00e0 hi\u1ec7u qu\u1ea3 th\u1ecb tr\u01b0\u1eddng ch\u01b0a cao.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option cung c\u1ea5p b\u1ed9 c\u00f4ng c\u1ee5 &#8220;Treasury Stock Analyzer&#8221; \u0111\u1ed9c quy\u1ec1n cho ph\u00e9p nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam l\u1ecdc v\u00e0 ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu d\u1ef1a tr\u00ean ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9. C\u00f4ng c\u1ee5 n\u00e0y t\u00edch h\u1ee3p c\u00e1c ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt v\u1ec1 kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch b\u1ea5t th\u01b0\u1eddng, t\u1ef7 l\u1ec7 mua c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i, v\u00e0 c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch t\u1eeb c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n h\u00e0ng \u0111\u1ea7u, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t d\u1ef1a tr\u00ean d\u1eef li\u1ec7u to\u00e0n di\u1ec7n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>R\u1ee7i ro v\u00e0 c\u00e2n nh\u1eafc khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u00f3 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i t\u1ea1i Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1eb7c d\u00f9 vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu th\u01b0\u1eddng mang l\u1ea1i t\u00edn hi\u1ec7u t\u00edch c\u1ef1c, nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u1ea7n nh\u1eadn di\u1ec7n \u0111\u1ea7y \u0111\u1ee7 c\u00e1c r\u1ee7i ro ti\u1ec1m \u1ea9n. C\u00e2u h\u1ecfi &#8220;c\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 \u0111\u01b0\u1ee3c nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng?&#8221; ch\u1ec9 l\u00e0 m\u1ed9t ph\u1ea7n nh\u1ecf trong b\u1ee9c tranh t\u1ed5ng th\u1ec3 v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a ho\u1ea1t \u0111\u1ed9ng n\u00e0y.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>R\u1ee7i ro<\/th>\n<th>Bi\u1ec3u hi\u1ec7n c\u1ee5 th\u1ec3 tr\u00ean th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam<\/th>\n<th>C\u00e1ch nh\u1eadn di\u1ec7n v\u00e0 tr\u00e1nh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0110\u1ed9ng c\u01a1 kh\u00f4ng minh b\u1ea1ch<\/td>\n<td>M\u1ed9t s\u1ed1 doanh nghi\u1ec7p mua l\u1ea1i c\u1ed5 phi\u1ebfu ch\u1ec9 \u0111\u1ec3 &#8220;l\u00e0m \u0111\u1eb9p&#8221; c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh tr\u01b0\u1edbc m\u00f9a b\u00e1o c\u00e1o<\/td>\n<td>Ph\u00e2n t\u00edch l\u1ecbch s\u1eed qu\u1ea3n tr\u1ecb, ch\u1ea5t l\u01b0\u1ee3ng b\u00e1o c\u00e1o th\u01b0\u1eddng ni\u00ean, v\u00e0 s\u1ef1 minh b\u1ea1ch trong c\u00f4ng b\u1ed1 th\u00f4ng tin<\/td>\n<\/tr>\n<tr>\n<td>S\u1eed d\u1ee5ng ti\u1ec1n kh\u00f4ng hi\u1ec7u qu\u1ea3<\/td>\n<td>Doanh nghi\u1ec7p d\u00f9ng ti\u1ec1n m\u1eb7t \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu thay v\u00ec \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c d\u1ef1 \u00e1n m\u1edbi c\u00f3 ti\u1ec1m n\u0103ng<\/td>\n<td>Ki\u1ec3m tra t\u1ef7 su\u1ea5t sinh l\u1ee3i tr\u00ean v\u1ed1n \u0111\u1ea7u t\u01b0 (ROIC) so v\u1edbi chi ph\u00ed v\u1ed1n b\u00ecnh qu\u00e2n (WACC)<\/td>\n<\/tr>\n<tr>\n<td>Gi\u1ea3m thanh kho\u1ea3n<\/td>\n<td>Sau c\u00e1c \u0111\u1ee3t mua l\u1ea1i l\u1edbn, nhi\u1ec1u c\u1ed5 phi\u1ebfu VN gi\u1ea3m m\u1ea1nh v\u1ec1 thanh kho\u1ea3n, kh\u00f3 mua\/b\u00e1n<\/td>\n<td>Ch\u1ec9 \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 tr\u1ecb giao d\u1ecbch trung b\u00ecnh &gt;10 t\u1ef7 \u0111\u1ed3ng\/ng\u00e0y<\/td>\n<\/tr>\n<tr>\n<td>Vay n\u1ee3 \u0111\u1ec3 mua l\u1ea1i<\/td>\n<td>M\u1ed9t s\u1ed1 doanh nghi\u1ec7p b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 b\u00e1n l\u1ebb \u0111\u00e3 vay n\u1ee3 \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 trong 2022-2023<\/td>\n<td>Theo d\u00f5i t\u1ef7 l\u1ec7 n\u1ee3\/EBITDA v\u00e0 t\u1ef7 l\u1ec7 b\u1ea3o \u0111\u1ea3m l\u00e3i vay<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1ecbnh gi\u00e1 cao khi mua l\u1ea1i<\/td>\n<td>Nhi\u1ec1u c\u00f4ng ty mua l\u1ea1i v\u1edbi gi\u00e1 cao h\u01a1n 20-30% so v\u1edbi gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd<\/td>\n<td>So s\u00e1nh gi\u00e1 mua v\u1edbi c\u00e1c m\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 nh\u01b0 DCF, P\/B, EV\/EBITDA<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t \u0111i\u1ec3m \u0111\u00e1ng ch\u00fa \u00fd trong b\u1ed1i c\u1ea3nh Vi\u1ec7t Nam l\u00e0 vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u00f4i khi ph\u1ea3n \u00e1nh s\u1ef1 thi\u1ebfu v\u1eafng c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 m\u1edbi hi\u1ec7u qu\u1ea3. Khi m\u1ed9t c\u00f4ng ty nh\u01b0 Vinamilk s\u1eed d\u1ee5ng h\u00e0ng ngh\u00ecn t\u1ef7 \u0111\u1ed3ng \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu thay v\u00ec m\u1edf r\u1ed9ng nh\u00e0 m\u00e1y ho\u1eb7c th\u00e2m nh\u1eadp th\u1ecb tr\u01b0\u1eddng m\u1edbi, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 cho th\u1ea5y tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng c\u1ee7a ng\u00e0nh \u0111\u00e3 ch\u1eadm l\u1ea1i. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u00e2n bi\u1ec7t r\u00f5 gi\u1eefa vi\u1ec7c mua l\u1ea1i do c\u1ed5 phi\u1ebfu b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p v\u00e0 mua l\u1ea1i do thi\u1ebfu chi\u1ebfn l\u01b0\u1ee3c ph\u00e1t tri\u1ec3n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t s\u1ed1 chuy\u00ean gia t\u00e0i ch\u00ednh t\u1ea1i Vi\u1ec7t Nam th\u1eadm ch\u00ed c\u00f2n b\u00e0y t\u1ecf quan \u0111i\u1ec3m tr\u00e1i ng\u01b0\u1ee3c r\u1eb1ng vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 qu\u00e1 m\u1ea1nh c\u00f3 th\u1ec3 khi\u1ebfn th\u1ecb tr\u01b0\u1eddng m\u1ea5t thanh kho\u1ea3n v\u00e0 \u0111a d\u1ea1ng, \u0111\u1eb7c bi\u1ec7t trong b\u1ed1i c\u1ea3nh nhi\u1ec1u c\u00f4ng ty ni\u00eam y\u1ebft v\u1eabn c\u00f3 t\u1ef7 l\u1ec7 t\u1ef1 do chuy\u1ec3n nh\u01b0\u1ee3ng th\u1ea5p. Tuy nhi\u00ean, \u0111\u00e2y l\u00e0 m\u1ed9t quan \u0111i\u1ec3m g\u00e2y tranh c\u00e3i v\u00e0 c\u1ea7n \u0111\u01b0\u1ee3c xem x\u00e9t theo t\u1eebng tr\u01b0\u1eddng h\u1ee3p c\u1ee5 th\u1ec3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option cung c\u1ea5p c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch r\u1ee7i ro chuy\u00ean s\u00e2u cho c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u00f3 c\u00e1i nh\u00ecn \u0111a chi\u1ec1u v\u00e0 kh\u00e1ch quan. B\u00e1o c\u00e1o n\u00e0y \u0111\u00e1nh gi\u00e1 c\u00e1c y\u1ebfu t\u1ed1 t\u00e0i ch\u00ednh, qu\u1ea3n tr\u1ecb, v\u00e0 t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng, t\u1ea1o n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc cho c\u00e1c quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Khung ph\u00e1p l\u00fd v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam: Nh\u1eefng \u0111i\u1ec3m quan tr\u1ecdng c\u1ea7n l\u01b0u \u00fd<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>T\u1ea1i Vi\u1ec7t Nam, ho\u1ea1t \u0111\u1ed9ng c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh ch\u1eb7t ch\u1ebd b\u1edfi nhi\u1ec1u v\u0103n b\u1ea3n ph\u00e1p l\u00fd quan tr\u1ecdng. Khung ph\u00e1p l\u00fd n\u00e0y \u0111\u00e3 tr\u1ea3i qua nhi\u1ec1u thay \u0111\u1ed5i trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i h\u01a1n cho c\u00e1c ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Kh\u00eda c\u1ea1nh ph\u00e1p l\u00fd<\/th>\n<th>Quy \u0111\u1ecbnh hi\u1ec7n h\u00e0nh t\u1ea1i Vi\u1ec7t Nam<\/th>\n<th>So s\u00e1nh v\u1edbi quy \u0111\u1ecbnh qu\u1ed1c t\u1ebf<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Gi\u1edbi h\u1ea1n mua l\u1ea1i<\/td>\n<td>T\u1ed1i \u0111a 30% t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u00e3 ph\u00e1t h\u00e0nh (Ngh\u1ecb \u0111\u1ecbnh 155\/2020\/N\u0110-CP)<\/td>\n<td>Th\u00e1i Lan: 10%, Singapore: kh\u00f4ng gi\u1edbi h\u1ea1n, M\u1ef9: kh\u00f4ng gi\u1edbi h\u1ea1n<\/td>\n<\/tr>\n<tr>\n<td>Th\u1eddi gian n\u1eafm gi\u1eef<\/td>\n<td>Kh\u00f4ng gi\u1edbi h\u1ea1n th\u1eddi gian n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu qu\u1ef9 (kh\u00e1c v\u1edbi quy \u0111\u1ecbnh tr\u01b0\u1edbc 2020)<\/td>\n<td>T\u01b0\u01a1ng t\u1ef1 h\u1ea7u h\u1ebft c\u00e1c th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n<\/td>\n<\/tr>\n<tr>\n<td>Ph\u01b0\u01a1ng th\u1ee9c giao d\u1ecbch<\/td>\n<td>B\u1eaft bu\u1ed9c qua s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n (kh\u1edbp l\u1ec7nh ho\u1eb7c th\u1ecfa thu\u1eadn)<\/td>\n<td>Ch\u1eb7t ch\u1ebd h\u01a1n nhi\u1ec1u n\u01b0\u1edbc (M\u1ef9 cho ph\u00e9p mua b\u00e1n OTC, darkpool)<\/td>\n<\/tr>\n<tr>\n<td>C\u00f4ng b\u1ed1 th\u00f4ng tin<\/td>\n<td>C\u00f4ng b\u1ed1 tr\u01b0\u1edbc 20 ng\u00e0y, trong qu\u00e1 tr\u00ecnh, v\u00e0 sau khi ho\u00e0n t\u1ea5t (10 ng\u00e0y)<\/td>\n<td>Chi ti\u1ebft h\u01a1n Th\u00e1i Lan v\u00e0 Malaysia, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng Singapore<\/td>\n<\/tr>\n<tr>\n<td>Ngu\u1ed3n v\u1ed1n h\u1ee3p ph\u00e1p<\/td>\n<td>Th\u1eb7ng d\u01b0 v\u1ed1n c\u1ed5 ph\u1ea7n, l\u1ee3i nhu\u1eadn sau thu\u1ebf ch\u01b0a ph\u00e2n ph\u1ed1i, qu\u1ef9 \u0111\u1ea7u t\u01b0 ph\u00e1t tri\u1ec3n, c\u00e1c ngu\u1ed3n v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu kh\u00e1c<\/td>\n<td>T\u01b0\u01a1ng t\u1ef1 quy \u0111\u1ecbnh t\u1ea1i h\u1ea7u h\u1ebft c\u00e1c n\u01b0\u1edbc trong khu v\u1ef1c<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo Lu\u1eadt Ch\u1ee9ng kho\u00e1n 2019 v\u00e0 c\u00e1c v\u0103n b\u1ea3n h\u01b0\u1edbng d\u1eabn, c\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 c\u1ed5 phi\u1ebfu kh\u00f4ng c\u00f3 quy\u1ec1n th\u00f4ng th\u01b0\u1eddng. C\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 \u0111\u01b0\u1ee3c nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng? Kh\u00f4ng, \u0111\u00e2y l\u00e0 quy \u0111\u1ecbnh r\u00f5 r\u00e0ng kh\u00f4ng c\u00f3 ngo\u1ea1i l\u1ec7. Ngo\u00e0i ra, c\u1ed5 phi\u1ebfu qu\u1ef9 kh\u00f4ng \u0111\u01b0\u1ee3c t\u00ednh v\u00e0o t\u1ef7 l\u1ec7 tham d\u1ef1 c\u1ee7a c\u1ed5 \u0111\u00f4ng \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh \u0111i\u1ec1u ki\u1ec7n ti\u1ebfn h\u00e0nh \u0110\u1ea1i h\u1ed9i \u0111\u1ed3ng c\u1ed5 \u0111\u00f4ng, v\u00e0 kh\u00f4ng \u0111\u01b0\u1ee3c ph\u00e9p chuy\u1ec3n nh\u01b0\u1ee3ng trong khi c\u00f4ng ty \u0111ang th\u1ef1c hi\u1ec7n c\u00e1c th\u1ee7 t\u1ee5c chia, t\u00e1ch, ho\u1eb7c h\u1ee3p nh\u1ea5t c\u1ed5 phi\u1ebfu.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t ph\u00e1t tri\u1ec3n \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 v\u00e0o th\u00e1ng 3 n\u0103m 2020, Ch\u00ednh ph\u1ee7 Vi\u1ec7t Nam \u0111\u00e3 ban h\u00e0nh Ngh\u1ecb \u0111\u1ecbnh 155\/2020\/N\u0110-CP thay th\u1ebf Ngh\u1ecb \u0111\u1ecbnh 58\/2012\/N\u0110-CP, n\u00e2ng gi\u1edbi h\u1ea1n mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1eeb 25% l\u00ean 30% v\u00e0 lo\u1ea1i b\u1ecf quy \u0111\u1ecbnh v\u1ec1 th\u1eddi gian n\u1eafm gi\u1eef t\u1ed1i \u0111a (tr\u01b0\u1edbc \u0111\u00e2y l\u00e0 1 n\u0103m). Nh\u1eefng thay \u0111\u1ed5i n\u00e0y \u0111\u00e3 t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i h\u01a1n cho c\u00e1c doanh nghi\u1ec7p th\u1ef1c hi\u1ec7n c\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 quy m\u00f4 l\u1edbn v\u1edbi s\u1ef1 linh ho\u1ea1t cao h\u01a1n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Pocket Option lu\u00f4n c\u1eadp nh\u1eadt nh\u1eefng thay \u0111\u1ed5i m\u1edbi nh\u1ea5t trong c\u00e1c quy \u0111\u1ecbnh ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu qu\u1ef9 t\u1ea1i Vi\u1ec7t Nam, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 theo k\u1ecbp c\u00e1c \u0111i\u1ec1u ch\u1ec9nh c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0. Th\u00f4ng qua n\u1ec1n t\u1ea3ng n\u00e0y, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn c\u00e1c ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c thay \u0111\u1ed5i ph\u00e1p l\u00fd \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: C\u1ed5 phi\u1ebfu qu\u1ef9 v\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00f4ng minh cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec? Ch\u00fang l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh quan tr\u1ecdng m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam c\u1ea7n n\u1eafm v\u1eefng \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3 trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng v\u1eabn c\u00f2n nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng. Th\u00f4ng qua ph\u00e2n t\u00edch s\u00e2u s\u1eafc, ch\u00fang ta \u0111\u00e3 th\u1ea5y r\u00f5 t\u00e1c \u0111\u1ed9ng \u0111a chi\u1ec1u c\u1ee7a c\u00e1c ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u1ebfn gi\u00e1 tr\u1ecb doanh nghi\u1ec7p v\u00e0 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u1eefng \u0111i\u1ec3m ch\u00ednh m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam n\u00ean nh\u1edb v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 bao g\u1ed3m:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh v\u00e0 sau \u0111\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng ty mua l\u1ea1i, kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft v\u00e0 kh\u00f4ng \u0111\u01b0\u1ee3c h\u01b0\u1edfng c\u1ed5 t\u1ee9c<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh nh\u01b0 EPS, ROE, v\u00e0 P\/E, t\u1ea1o ra gi\u00e1 tr\u1ecb cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ea1i Vi\u1ec7t Nam, ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 \u0111\u00e3 tr\u1edf n\u00ean ph\u1ed5 bi\u1ebfn h\u01a1n, \u0111\u1eb7c bi\u1ec7t trong c\u00e1c giai \u0111o\u1ea1n \u0111i\u1ec1u ch\u1ec9nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00e1c ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i quy m\u00f4 l\u1edbn (&gt;5% c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh) th\u01b0\u1eddng mang l\u1ea1i t\u00e1c \u0111\u1ed9ng t\u00edch c\u1ef1c \u0111\u00e1ng k\u1ec3 \u0111\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u00e2n t\u00edch k\u1ef9 \u0111\u1ed9ng c\u01a1, quy m\u00f4, v\u00e0 ngu\u1ed3n v\u1ed1n cho vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 tr\u01b0\u1edbc khi \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam ng\u00e0y c\u00e0ng tr\u01b0\u1edfng th\u00e0nh v\u1edbi s\u1ef1 tham gia c\u1ee7a nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c v\u00e0 n\u01b0\u1edbc ngo\u00e0i, vi\u1ec7c hi\u1ec3u v\u00e0 t\u1eadn d\u1ee5ng th\u00f4ng tin v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 s\u1ebd t\u1ea1o ra l\u1ee3i th\u1ebf c\u1ea1nh tranh \u0111\u00e1ng k\u1ec3. Pocket Option cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch chuy\u00ean s\u00e2u to\u00e0n di\u1ec7n v\u00e0 c\u1eadp nh\u1eadt th\u1eddi gian th\u1ef1c v\u1ec1 ho\u1ea1t \u0111\u1ed9ng mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam \u0111\u01b0a ra c\u00e1c quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 s\u00e1ng su\u1ed1t v\u00e0 k\u1ecbp th\u1eddi.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>H\u00e3y nh\u1edb r\u1eb1ng kh\u00f4ng c\u00f3 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 n\u00e0o l\u00e0 ho\u00e0n h\u1ea3o cho t\u1ea5t c\u1ea3 m\u1ecdi ng\u01b0\u1eddi. M\u1ed7i nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n x\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c ri\u00eang d\u1ef1a tr\u00ean m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh, kh\u1ea3 n\u0103ng ch\u1ea5p nh\u1eadn r\u1ee7i ro, v\u00e0 th\u1eddi gian \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh. Tuy nhi\u00ean, trong b\u1ed9 c\u00f4ng c\u1ee5 ki\u1ebfn th\u1ee9c c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, s\u1ef1 hi\u1ec3u bi\u1ebft s\u00e2u s\u1eafc v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00fang l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 kh\u00f4ng th\u1ec3 thi\u1ebfu, \u0111\u1eb7c bi\u1ec7t trong giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng hi\u1ec7n nay.<\/p>\n<\/div>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\"><\/span>\n        <\/a>\n    <\/div>\n    \n"},"faq":[{"question":"C\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng?","answer":"Kh\u00f4ng, c\u1ed5 phi\u1ebfu qu\u1ef9 ho\u00e0n to\u00e0n kh\u00f4ng nh\u1eadn c\u1ed5 t\u1ee9c d\u01b0\u1edbi b\u1ea5t k\u1ef3 h\u00ecnh th\u1ee9c n\u00e0o. Khi m\u1ed9t c\u00f4ng ty mua l\u1ea1i c\u1ed5 phi\u1ebfu d\u01b0\u1edbi d\u1ea1ng c\u1ed5 phi\u1ebfu qu\u1ef9, nh\u1eefng c\u1ed5 phi\u1ebfu n\u00e0y kh\u00f4ng c\u00f2n \u0111\u01b0\u1ee3c coi l\u00e0 c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh v\u00e0 do \u0111\u00f3 kh\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c b\u1ea5t k\u1ef3 c\u1ed5 t\u1ee9c n\u00e0o. \u0110i\u1ec1u n\u00e0y gi\u00fap c\u00f4ng ty ti\u1ebft ki\u1ec7m chi ph\u00ed c\u1ed5 t\u1ee9c v\u00e0 c\u00f3 th\u1ec3 t\u0103ng t\u1ef7 l\u1ec7 chi tr\u1ea3 cho c\u00e1c c\u1ed5 \u0111\u00f4ng c\u00f2n l\u1ea1i."},{"question":"C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 lo\u1ea1i c\u1ed5 phi\u1ebfu n\u00e0o?","answer":"C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh v\u00e0 sau \u0111\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng ty ph\u00e1t h\u00e0nh mua l\u1ea1i t\u1eeb th\u1ecb tr\u01b0\u1eddng. Ch\u00fang c\u00f3 c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m kh\u00e1c v\u1edbi c\u1ed5 phi\u1ebfu th\u01b0\u1eddng: kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft, kh\u00f4ng \u0111\u01b0\u1ee3c h\u01b0\u1edfng c\u1ed5 t\u1ee9c, kh\u00f4ng \u0111\u01b0\u1ee3c t\u00ednh v\u00e0o s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh khi t\u00ednh to\u00e1n c\u00e1c t\u1ef7 l\u1ec7 t\u00e0i ch\u00ednh, v\u00e0 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh l\u1ea1i trong t\u01b0\u01a1ng lai cho c\u00e1c m\u1ee5c \u0111\u00edch kh\u00e1c nhau nh\u01b0 ESOP ho\u1eb7c huy \u0111\u1ed9ng v\u1ed1n."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 theo d\u00f5i th\u00f4ng tin v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft t\u1ea1i Vi\u1ec7t Nam?","answer":"C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 theo d\u00f5i th\u00f4ng tin v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 th\u00f4ng qua nhi\u1ec1u k\u00eanh: c\u00e1c trang web ch\u00ednh th\u1ee9c c\u1ee7a HOSE, HNX v\u00e0 SSC; h\u1ec7 th\u1ed1ng c\u00f4ng b\u1ed1 th\u00f4ng tin c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft; c\u00e1c n\u1ec1n t\u1ea3ng th\u00f4ng tin t\u00e0i ch\u00ednh chuy\u00ean nghi\u1ec7p nh\u01b0 Pocket Option, FiinPro, ho\u1eb7c VietstockFinance; v\u00e0 c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch t\u1eeb c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n. Pocket Option cung c\u1ea5p c\u00f4ng c\u1ee5 \"Treasury Stock Alert\" gi\u00fap nh\u1eadn th\u00f4ng b\u00e1o t\u1ef1 \u0111\u1ed9ng khi c\u00e1c c\u00f4ng ty l\u1edbn c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9."},{"question":"Vi\u1ec7c m\u1ed9t c\u00f4ng ty mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 ph\u1ea3i lu\u00f4n l\u00e0 t\u00edn hi\u1ec7u t\u00edch c\u1ef1c kh\u00f4ng?","answer":"Kh\u00f4ng nh\u1ea5t thi\u1ebft. M\u1eb7c d\u00f9 vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu th\u01b0\u1eddng \u0111\u01b0\u1ee3c coi l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u t\u00edch c\u1ef1c cho th\u1ea5y s\u1ef1 t\u1ef1 tin c\u1ee7a ban qu\u1ea3n l\u00fd v\u00e0o gi\u00e1 tr\u1ecb c\u1ee7a c\u00f4ng ty, nh\u01b0ng trong m\u1ed9t s\u1ed1 tr\u01b0\u1eddng h\u1ee3p, ch\u00fang c\u00f3 th\u1ec3 che gi\u1ea5u c\u00e1c v\u1ea5n \u0111\u1ec1. V\u00ed d\u1ee5, m\u1ed9t c\u00f4ng ty c\u00f3 th\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu ch\u1ec9 \u0111\u1ec3 \"l\u00e0m \u0111\u1eb9p\" c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh ng\u1eafn h\u1ea1n nh\u01b0 EPS m\u00e0 kh\u00f4ng c\u00f3 k\u1ebf ho\u1ea1ch ph\u00e1t tri\u1ec3n d\u00e0i h\u1ea1n, ho\u1eb7c s\u1eed d\u1ee5ng v\u1ed1n vay \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu, l\u00e0m t\u0103ng r\u1ee7i ro t\u00e0i ch\u00ednh. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u00e2n t\u00edch c\u1ea9n th\u1eadn \u0111\u1ed9ng c\u01a1 th\u1ef1c s\u1ef1 \u0111\u1eb1ng sau m\u1ed7i ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i."},{"question":"\u0110i\u1ec1u g\u00ec x\u1ea3y ra khi m\u1ed9t c\u00f4ng ty b\u00e1n l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 ra th\u1ecb tr\u01b0\u1eddng?","answer":"Khi m\u1ed9t c\u00f4ng ty b\u00e1n l\u1ea1i (t\u00e1i ph\u00e1t h\u00e0nh) c\u1ed5 phi\u1ebfu qu\u1ef9, s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh s\u1ebd t\u0103ng l\u00ean, c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn hi\u1ec7u \u1ee9ng pha lo\u00e3ng tr\u00ean EPS v\u00e0 quy\u1ec1n bi\u1ec3u quy\u1ebft c\u1ee7a c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu. Tuy nhi\u00ean, n\u1ebfu vi\u1ec7c b\u00e1n \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u1edbi gi\u00e1 cao h\u01a1n gi\u00e1 mua ban \u0111\u1ea7u, c\u00f4ng ty s\u1ebd ghi nh\u1eadn l\u1ee3i nhu\u1eadn t\u1eeb giao d\u1ecbch n\u00e0y. T\u1ea1i Vi\u1ec7t Nam, vi\u1ec7c t\u00e1i ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu qu\u1ef9 c\u0169ng ph\u1ea3i tu\u00e2n th\u1ee7 c\u00e1c quy \u0111\u1ecbnh c\u00f4ng b\u1ed1 th\u00f4ng tin nghi\u00eam ng\u1eb7t v\u00e0 th\u01b0\u1eddng \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n khi c\u00f4ng ty c\u1ea7n huy \u0111\u1ed9ng v\u1ed1n cho c\u00e1c k\u1ebf ho\u1ea1ch m\u1edf r\u1ed9ng ho\u1eb7c khi gi\u00e1 c\u1ed5 phi\u1ebfu \u0111\u00e3 t\u0103ng \u0111\u00e1ng k\u1ec3 so v\u1edbi th\u1eddi \u0111i\u1ec3m mua v\u00e0o."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"C\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 nh\u1eadn c\u1ed5 t\u1ee9c kh\u00f4ng?","answer":"Kh\u00f4ng, c\u1ed5 phi\u1ebfu qu\u1ef9 ho\u00e0n to\u00e0n kh\u00f4ng nh\u1eadn c\u1ed5 t\u1ee9c d\u01b0\u1edbi b\u1ea5t k\u1ef3 h\u00ecnh th\u1ee9c n\u00e0o. Khi m\u1ed9t c\u00f4ng ty mua l\u1ea1i c\u1ed5 phi\u1ebfu d\u01b0\u1edbi d\u1ea1ng c\u1ed5 phi\u1ebfu qu\u1ef9, nh\u1eefng c\u1ed5 phi\u1ebfu n\u00e0y kh\u00f4ng c\u00f2n \u0111\u01b0\u1ee3c coi l\u00e0 c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh v\u00e0 do \u0111\u00f3 kh\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c b\u1ea5t k\u1ef3 c\u1ed5 t\u1ee9c n\u00e0o. \u0110i\u1ec1u n\u00e0y gi\u00fap c\u00f4ng ty ti\u1ebft ki\u1ec7m chi ph\u00ed c\u1ed5 t\u1ee9c v\u00e0 c\u00f3 th\u1ec3 t\u0103ng t\u1ef7 l\u1ec7 chi tr\u1ea3 cho c\u00e1c c\u1ed5 \u0111\u00f4ng c\u00f2n l\u1ea1i."},{"question":"C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 lo\u1ea1i c\u1ed5 phi\u1ebfu n\u00e0o?","answer":"C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 m\u1ed9t lo\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1eb7c bi\u1ec7t \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh v\u00e0 sau \u0111\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng ty ph\u00e1t h\u00e0nh mua l\u1ea1i t\u1eeb th\u1ecb tr\u01b0\u1eddng. Ch\u00fang c\u00f3 c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m kh\u00e1c v\u1edbi c\u1ed5 phi\u1ebfu th\u01b0\u1eddng: kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft, kh\u00f4ng \u0111\u01b0\u1ee3c h\u01b0\u1edfng c\u1ed5 t\u1ee9c, kh\u00f4ng \u0111\u01b0\u1ee3c t\u00ednh v\u00e0o s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh khi t\u00ednh to\u00e1n c\u00e1c t\u1ef7 l\u1ec7 t\u00e0i ch\u00ednh, v\u00e0 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh l\u1ea1i trong t\u01b0\u01a1ng lai cho c\u00e1c m\u1ee5c \u0111\u00edch kh\u00e1c nhau nh\u01b0 ESOP ho\u1eb7c huy \u0111\u1ed9ng v\u1ed1n."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 theo d\u00f5i th\u00f4ng tin v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft t\u1ea1i Vi\u1ec7t Nam?","answer":"C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 theo d\u00f5i th\u00f4ng tin v\u1ec1 c\u1ed5 phi\u1ebfu qu\u1ef9 th\u00f4ng qua nhi\u1ec1u k\u00eanh: c\u00e1c trang web ch\u00ednh th\u1ee9c c\u1ee7a HOSE, HNX v\u00e0 SSC; h\u1ec7 th\u1ed1ng c\u00f4ng b\u1ed1 th\u00f4ng tin c\u1ee7a c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft; c\u00e1c n\u1ec1n t\u1ea3ng th\u00f4ng tin t\u00e0i ch\u00ednh chuy\u00ean nghi\u1ec7p nh\u01b0 Pocket Option, FiinPro, ho\u1eb7c VietstockFinance; v\u00e0 c\u00e1c b\u00e1o c\u00e1o ph\u00e2n t\u00edch t\u1eeb c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n. Pocket Option cung c\u1ea5p c\u00f4ng c\u1ee5 \"Treasury Stock Alert\" gi\u00fap nh\u1eadn th\u00f4ng b\u00e1o t\u1ef1 \u0111\u1ed9ng khi c\u00e1c c\u00f4ng ty l\u1edbn c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9."},{"question":"Vi\u1ec7c m\u1ed9t c\u00f4ng ty mua l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 c\u00f3 ph\u1ea3i lu\u00f4n l\u00e0 t\u00edn hi\u1ec7u t\u00edch c\u1ef1c kh\u00f4ng?","answer":"Kh\u00f4ng nh\u1ea5t thi\u1ebft. M\u1eb7c d\u00f9 vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu th\u01b0\u1eddng \u0111\u01b0\u1ee3c coi l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u t\u00edch c\u1ef1c cho th\u1ea5y s\u1ef1 t\u1ef1 tin c\u1ee7a ban qu\u1ea3n l\u00fd v\u00e0o gi\u00e1 tr\u1ecb c\u1ee7a c\u00f4ng ty, nh\u01b0ng trong m\u1ed9t s\u1ed1 tr\u01b0\u1eddng h\u1ee3p, ch\u00fang c\u00f3 th\u1ec3 che gi\u1ea5u c\u00e1c v\u1ea5n \u0111\u1ec1. V\u00ed d\u1ee5, m\u1ed9t c\u00f4ng ty c\u00f3 th\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu ch\u1ec9 \u0111\u1ec3 \"l\u00e0m \u0111\u1eb9p\" c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh ng\u1eafn h\u1ea1n nh\u01b0 EPS m\u00e0 kh\u00f4ng c\u00f3 k\u1ebf ho\u1ea1ch ph\u00e1t tri\u1ec3n d\u00e0i h\u1ea1n, ho\u1eb7c s\u1eed d\u1ee5ng v\u1ed1n vay \u0111\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu, l\u00e0m t\u0103ng r\u1ee7i ro t\u00e0i ch\u00ednh. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u00e2n t\u00edch c\u1ea9n th\u1eadn \u0111\u1ed9ng c\u01a1 th\u1ef1c s\u1ef1 \u0111\u1eb1ng sau m\u1ed7i ch\u01b0\u01a1ng tr\u00ecnh mua l\u1ea1i."},{"question":"\u0110i\u1ec1u g\u00ec x\u1ea3y ra khi m\u1ed9t c\u00f4ng ty b\u00e1n l\u1ea1i c\u1ed5 phi\u1ebfu qu\u1ef9 ra th\u1ecb tr\u01b0\u1eddng?","answer":"Khi m\u1ed9t c\u00f4ng ty b\u00e1n l\u1ea1i (t\u00e1i ph\u00e1t h\u00e0nh) c\u1ed5 phi\u1ebfu qu\u1ef9, s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh s\u1ebd t\u0103ng l\u00ean, c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn hi\u1ec7u \u1ee9ng pha lo\u00e3ng tr\u00ean EPS v\u00e0 quy\u1ec1n bi\u1ec3u quy\u1ebft c\u1ee7a c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu. Tuy nhi\u00ean, n\u1ebfu vi\u1ec7c b\u00e1n \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u1edbi gi\u00e1 cao h\u01a1n gi\u00e1 mua ban \u0111\u1ea7u, c\u00f4ng ty s\u1ebd ghi nh\u1eadn l\u1ee3i nhu\u1eadn t\u1eeb giao d\u1ecbch n\u00e0y. T\u1ea1i Vi\u1ec7t Nam, vi\u1ec7c t\u00e1i ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu qu\u1ef9 c\u0169ng ph\u1ea3i tu\u00e2n th\u1ee7 c\u00e1c quy \u0111\u1ecbnh c\u00f4ng b\u1ed1 th\u00f4ng tin nghi\u00eam ng\u1eb7t v\u00e0 th\u01b0\u1eddng \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n khi c\u00f4ng ty c\u1ea7n huy \u0111\u1ed9ng v\u1ed1n cho c\u00e1c k\u1ebf ho\u1ea1ch m\u1edf r\u1ed9ng ho\u1eb7c khi gi\u00e1 c\u1ed5 phi\u1ebfu \u0111\u00e3 t\u0103ng \u0111\u00e1ng k\u1ec3 so v\u1edbi th\u1eddi \u0111i\u1ec3m mua v\u00e0o."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>C\u1ed5 phi\u1ebfu qu\u1ef9 l\u00e0 g\u00ec: Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00f4ng minh cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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