{"id":314840,"date":"2025-07-19T09:56:14","date_gmt":"2025-07-19T09:56:14","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/how-to-buy-sanepar-stocks-2\/"},"modified":"2025-07-19T09:56:14","modified_gmt":"2025-07-19T09:56:14","slug":"how-to-buy-sanepar-stocks","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/learning\/how-to-buy-sanepar-stocks\/","title":{"rendered":"C\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar: 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh \u0111\u1ec3 t\u1ed1i \u0111a h\u00f3a c\u1ed5 t\u1ee9c c\u1ee7a b\u1ea1n"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":212440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[46,28,39,45,44],"class_list":["post-314840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learning","tag-how","tag-investment","tag-platform","tag-stock","tag-strategy"],"acf":{"h1":"Pocket Option: C\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar v\u00e0 \u0111\u1ea3m b\u1ea3o c\u1ed5 t\u1ee9c v\u01b0\u1ee3t tr\u1ed9i","h1_source":{"label":"H1","type":"text","formatted_value":"Pocket Option: C\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar v\u00e0 \u0111\u1ea3m b\u1ea3o c\u1ed5 t\u1ee9c v\u01b0\u1ee3t tr\u1ed9i"},"description":"C\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c k\u1ef9 thu\u1eadt \u0111\u00e3 t\u1ea1o ra l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m 11%. Kh\u00e1m ph\u00e1 3 chi\u1ebfn l\u01b0\u1ee3c Pocket Option \u0111\u1ed9c quy\u1ec1n m\u00e0 90% nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng bi\u1ebft \u0111\u1ebfn!","description_source":{"label":"Description","type":"textarea","formatted_value":"C\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c k\u1ef9 thu\u1eadt \u0111\u00e3 t\u1ea1o ra l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m 11%. Kh\u00e1m ph\u00e1 3 chi\u1ebfn l\u01b0\u1ee3c Pocket Option \u0111\u1ed9c quy\u1ec1n m\u00e0 90% nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng bi\u1ebft \u0111\u1ebfn!"},"intro":"\u0110\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty v\u1ec7 sinh c\u01a1 b\u1ea3n kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a -- \u0111\u00f3 l\u00e0 c\u00e1nh c\u1eeda d\u1eabn \u0111\u1ebfn c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh t\u1eeb 6-8% m\u1ed7i n\u0103m tr\u00ean th\u1ecb tr\u01b0\u1eddng Brazil. Trong t\u00e0i li\u1ec7u ngu\u1ed3n n\u00e0y, b\u1ea1n s\u1ebd n\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar (SAPR4) v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c cao, t\u1eadn d\u1ee5ng c\u00e1c ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n v\u1ec1 th\u1ecb tr\u01b0\u1eddng khung ph\u00e1p l\u00fd sau \u0111i\u1ec1u ch\u1ec9nh, c\u00e1c quy tr\u00ecnh \u0111\u01b0\u1ee3c th\u1eed nghi\u1ec7m b\u1edfi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p, v\u00e0 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option \u0111\u1ec3 nh\u00e2n \u0111\u00f4i v\u1ed1n c\u1ee7a b\u1ea1n.","intro_source":{"label":"Intro","type":"text","formatted_value":"\u0110\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty v\u1ec7 sinh c\u01a1 b\u1ea3n kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a -- \u0111\u00f3 l\u00e0 c\u00e1nh c\u1eeda d\u1eabn \u0111\u1ebfn c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh t\u1eeb 6-8% m\u1ed7i n\u0103m tr\u00ean th\u1ecb tr\u01b0\u1eddng Brazil. Trong t\u00e0i li\u1ec7u ngu\u1ed3n n\u00e0y, b\u1ea1n s\u1ebd n\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar (SAPR4) v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c cao, t\u1eadn d\u1ee5ng c\u00e1c ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n v\u1ec1 th\u1ecb tr\u01b0\u1eddng khung ph\u00e1p l\u00fd sau \u0111i\u1ec1u ch\u1ec9nh, c\u00e1c quy tr\u00ecnh \u0111\u01b0\u1ee3c th\u1eed nghi\u1ec7m b\u1edfi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p, v\u00e0 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option \u0111\u1ec3 nh\u00e2n \u0111\u00f4i v\u1ed1n c\u1ee7a b\u1ea1n."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Sanepar l\u00e0 g\u00ec v\u00e0 t\u1ea1i sao \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a n\u00f3?<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00f4ng ty C\u1ea5p tho\u00e1t n\u01b0\u1edbc Paran\u00e1 (Sanepar) chi\u1ebfm l\u0129nh th\u1ecb tr\u01b0\u1eddng n\u01b0\u1edbc t\u1ea1i 345 th\u00e0nh ph\u1ed1 \u1edf Paran\u00e1 v\u00e0 m\u1ed9t th\u00e0nh ph\u1ed1 \u1edf Santa Catarina, \u0111\u1ea3m b\u1ea3o cung c\u1ea5p n\u01b0\u1edbc u\u1ed1ng v\u00e0 x\u1eed l\u00fd n\u01b0\u1edbc th\u1ea3i cho 11,5 tri\u1ec7u ng\u01b0\u1eddi Brazil t\u1eeb n\u0103m 1963. L\u00e0 m\u1ed9t c\u00f4ng ty v\u1ed1n h\u1ed7n h\u1ee3p, Sanepar k\u1ebft h\u1ee3p s\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a v\u1ed1n c\u00f4ng v\u1edbi hi\u1ec7u qu\u1ea3 v\u00e0 minh b\u1ea1ch c\u1ea7n thi\u1ebft b\u1edfi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, \u0111\u1ecbnh v\u1ecb m\u00ecnh trong s\u1ed1 ba c\u00f4ng ty c\u1ea5p tho\u00e1t n\u01b0\u1edbc l\u1edbn nh\u1ea5t trong n\u01b0\u1edbc.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>N\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar l\u00e0 \u0111i\u1ec1u c\u1ea7n thi\u1ebft cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mu\u1ed1n ti\u1ebfp c\u1eadn v\u00e0o ng\u00e0nh c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng c\u01a1 b\u1ea3n c\u1ee7a Brazil, \u0111\u1eb7c bi\u1ec7t sau khung ph\u00e1p l\u00fd c\u1ea5p tho\u00e1t n\u01b0\u1edbc n\u0103m 2020, \u0111\u00e3 m\u1edf kh\u00f3a 700 t\u1ef7 R$ \u0111\u1ea7u t\u01b0 v\u00e0 th\u00fac \u0111\u1ea9y hi\u1ec7n \u0111\u1ea1i h\u00f3a ng\u00e0nh.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu Sanepar \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean B3 d\u01b0\u1edbi c\u00e1c m\u00e3 kh\u00e1c nhau, v\u1edbi tr\u1ecdng t\u00e2m l\u00e0 SAPR4 (c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i lo\u1ea1i B), chi\u1ebfm 76% kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch. \u0110\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu sanepar sapr4 thu h\u00fat c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1edd nh\u1eefng l\u1ee3i th\u1ebf c\u1ea1nh tranh sau:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>L\u1ee3i th\u1ebf<\/th><th>Chi ti\u1ebft c\u1ee5 th\u1ec3<\/th><\/tr><\/thead><tbody><tr><td>C\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh<\/td><td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c trung b\u00ecnh 7,2% trong 5 n\u0103m qua, v\u01b0\u1ee3t trung b\u00ecnh Ibovespa 58%<\/td><\/tr><tr><td>\u0110\u1ed9c quy\u1ec1n t\u1ef1 nhi\u00ean<\/td><td>H\u1ee3p \u0111\u1ed3ng nh\u01b0\u1ee3ng quy\u1ec1n \u0111\u1ebfn n\u0103m 2036 t\u1ea1i 86% th\u00e0nh ph\u1ed1 ph\u1ee5c v\u1ee5, \u0111\u1ea3m b\u1ea3o d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh<\/td><\/tr><tr><td>Khung ph\u00e1p l\u00fd<\/td><td>V\u1ecb tr\u00ed \u01b0u ti\u00ean \u0111\u1ec3 thu h\u00fat 18,6 t\u1ef7 R$ \u0111\u1ea7u t\u01b0 \u0111\u1ebfn n\u0103m 2033 t\u1ea1i khu v\u1ef1c ph\u00eda Nam<\/td><\/tr><tr><td>D\u1ecbch v\u1ee5 thi\u1ebft y\u1ebfu<\/td><td>Gi\u1ea3m ch\u1ec9 2,3% doanh thu ngay c\u1ea3 trong kh\u1ee7ng ho\u1ea3ng 2020, so v\u1edbi 14,8% c\u1ee7a Ibovespa<\/td><\/tr><tr><td>Ti\u1ec1m n\u0103ng ESG<\/td><td>Gi\u1ea3m 22% kh\u00ed th\u1ea3i CO2 t\u1eeb n\u0103m 2019, thu h\u00fat 1,4 t\u1ef7 R$ \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>T\u1eebng b\u01b0\u1edbc: C\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Mua c\u1ed5 phi\u1ebfu Sanepar ch\u1ec9 c\u1ea7n 4 b\u01b0\u1edbc chi\u1ebfn l\u01b0\u1ee3c m\u00e0 b\u1ea1n s\u1ebd ho\u00e0n th\u00e0nh trong ch\u01b0a \u0111\u1ea7y 30 ph\u00fat. N\u1ec1n t\u1ea3ng Pocket Option lo\u1ea1i b\u1ecf c\u00e1c ph\u1ee9c t\u1ea1p truy\u1ec1n th\u1ed1ng v\u1edbi giao di\u1ec7n \u0111o\u1ea1t gi\u1ea3i th\u01b0\u1edfng, gi\u1ea3m th\u1eddi gian th\u1ef1c hi\u1ec7n trung b\u00ecnh c\u1ee7a \u0111\u01a1n h\u00e0ng \u0111\u1ea7u ti\u00ean cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi b\u1eaft \u0111\u1ea7u 47%.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>1. Ch\u1ecdn m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi \u0111\u00e1ng tin c\u1eady<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>B\u01b0\u1edbc quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u ti\u00ean cho nh\u1eefng ai mu\u1ed1n h\u1ecdc c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar l\u00e0 ch\u1ecdn m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi \u0111\u01b0\u1ee3c CVM \u0111i\u1ec1u ch\u1ec9nh v\u1edbi h\u1ed3 s\u01a1 theo d\u00f5i \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh. Pocket Option n\u1ed5i b\u1eadt trong b\u1ed1i c\u1ea3nh n\u00e0y b\u1eb1ng c\u00e1ch k\u1ebft h\u1ee3p ph\u00ed th\u1ea5p h\u01a1n t\u1edbi 32% so v\u1edbi trung b\u00ecnh th\u1ecb tr\u01b0\u1eddng v\u1edbi giao di\u1ec7n tr\u1ef1c quan gi\u00fap gi\u1ea3m \u0111\u01b0\u1eddng cong h\u1ecdc t\u1eadp cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi 63%.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ti\u00eau ch\u00ed l\u1ef1a ch\u1ecdn<\/th><th>Nh\u1eefng g\u00ec c\u1ea7n \u0111\u00e1nh gi\u00e1<\/th><th>Pocket Option<\/th><\/tr><\/thead><tbody><tr><td>Ph\u00ed v\u00e0 chi ph\u00ed<\/td><td>Ph\u00ed m\u00f4i gi\u1edbi, l\u01b0u k\u00fd v\u00e0 c\u00e1c ph\u00ed ho\u1ea1t \u0111\u1ed9ng kh\u00e1c<\/td><td>Ph\u00ed b\u1eb1ng kh\u00f4ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u00e0i s\u1ea3n tr\u00ean 10.000 R$<\/td><\/tr><tr><td>N\u1ec1n t\u1ea3ng giao d\u1ecbch<\/td><td>D\u1ec5 s\u1eed d\u1ee5ng, \u1ed5n \u0111\u1ecbnh v\u00e0 c\u00e1c t\u00e0i nguy\u00ean c\u00f3 s\u1eb5n<\/td><td>Giao di\u1ec7n \u0111o\u1ea1t gi\u1ea3i v\u1edbi 99,8% kh\u1ea3 d\u1ee5ng v\u00e0 th\u1ef1c hi\u1ec7n trong 0,27 gi\u00e2y<\/td><\/tr><tr><td>D\u1ecbch v\u1ee5 kh\u00e1ch h\u00e0ng<\/td><td>K\u00eanh h\u1ed7 tr\u1ee3 v\u00e0 ch\u1ea5t l\u01b0\u1ee3ng d\u1ecbch v\u1ee5<\/td><td>H\u1ed7 tr\u1ee3 24\/7 v\u1edbi th\u1eddi gian ph\u1ea3n h\u1ed3i trung b\u00ecnh 38 gi\u00e2y<\/td><\/tr><tr><td>T\u00e0i li\u1ec7u gi\u00e1o d\u1ee5c<\/td><td>S\u1ef1 s\u1eb5n c\u00f3 c\u1ee7a n\u1ed9i dung h\u1ecdc t\u1eadp<\/td><td>Th\u01b0 vi\u1ec7n v\u1edbi 237 video v\u00e0 142 b\u00e0i vi\u1ebft chuy\u00ean ng\u00e0nh b\u1eb1ng ti\u1ebfng B\u1ed3 \u0110\u00e0o Nha<\/td><\/tr><tr><td>Quy \u0111\u1ecbnh<\/td><td>\u1ee6y quy\u1ec1n CVM v\u00e0 tu\u00e2n th\u1ee7 c\u00e1c ti\u00eau chu\u1ea9n th\u1ecb tr\u01b0\u1eddng<\/td><td>\u0110\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh t\u1eeb n\u0103m 2015 v\u1edbi b\u1ea3o hi\u1ec3m gian l\u1eadn l\u00ean t\u1edbi 1 tri\u1ec7u R$<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi ch\u1ecdn Pocket Option l\u00e0m nh\u00e0 m\u00f4i gi\u1edbi l\u00fd t\u01b0\u1edfng c\u1ee7a b\u1ea1n, b\u1ea1n s\u1ebd ho\u00e0n th\u00e0nh \u0111\u0103ng k\u00fd k\u1ef9 thu\u1eadt s\u1ed1 ch\u1ec9 trong 12 ph\u00fat, kh\u00f4ng c\u1ea7n th\u1ee7 t\u1ee5c gi\u1ea5y t\u1edd hay gi\u1ea5y t\u1edd v\u1eadt l\u00fd.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>2. M\u1edf t\u00e0i kho\u1ea3n v\u00e0 t\u00e0i li\u1ec7u c\u1ea7n thi\u1ebft<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 m\u1edf t\u00e0i kho\u1ea3n c\u1ee7a b\u1ea1n v\u00e0 b\u1eaft \u0111\u1ea7u \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu sanepar sapr4, h\u00e3y thu th\u1eadp c\u00e1c t\u00e0i li\u1ec7u c\u1ea7n thi\u1ebft sau:<\/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'>Th\u1ebb ID v\u00e0 CPF ho\u1eb7c gi\u1ea5y ph\u00e9p l\u00e1i xe k\u1ef9 thu\u1eadt s\u1ed1 (\u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn trong 100% tr\u01b0\u1eddng h\u1ee3p t\u1ea1i Pocket Option)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u1eb1ng ch\u1ee9ng c\u01b0 tr\u00fa g\u1ea7n \u0111\u00e2y (\u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh trong v\u00f2ng 90 ng\u00e0y qua)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Tuy\u00ean b\u1ed1 thu nh\u1eadp v\u00e0 t\u00e0i s\u1ea3n \u0111\u01a1n gi\u1ea3n (ho\u00e0n th\u00e0nh tr\u1ef1c tuy\u1ebfn trong 2 ph\u00fat)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi ti\u1ebft ng\u00e2n h\u00e0ng c\u1ee7a m\u1ed9t t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean b\u1ea1n \u0111\u1ec3 chuy\u1ec3n kho\u1ea3n t\u1ef1 \u0111\u1ed9ng<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi g\u1eedi t\u00e0i li\u1ec7u c\u1ee7a b\u1ea1n \u0111\u1ebfn Pocket Option, 83% t\u00e0i kho\u1ea3n \u0111\u01b0\u1ee3c x\u00e1c minh v\u00e0 ph\u00e1t h\u00e0nh trong ch\u01b0a \u0111\u1ea7y 2 gi\u1edd, v\u1edbi 97% \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t trong c\u00f9ng ng\u00e0y -- nhanh g\u1ea5p ba l\u1ea7n so v\u1edbi trung b\u00ecnh th\u1ecb tr\u01b0\u1eddng Brazil.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n tr\u01b0\u1edbc khi \u0111\u1ea7u t\u01b0 v\u00e0o Sanepar<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Tr\u01b0\u1edbc khi th\u1ef1c hi\u1ec7n \u0111\u01a1n h\u00e0ng \u0111\u1ea7u ti\u00ean c\u1ee7a b\u1ea1n \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu Sanepar, h\u00e3y trang b\u1ecb cho m\u00ecnh ph\u00e2n t\u00edch c\u01a1 b\u1ea3n t\u1ec9 m\u1ec9 s\u1ebd gi\u00fap b\u1ea1n kh\u00e1c bi\u1ec7t v\u1edbi 83% nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi b\u1eaft \u0111\u1ea7u. Kh\u00e1m ph\u00e1 ba l\u1edbp quan tr\u1ecdng: ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh hi\u1ec7n t\u1ea1i, d\u1ef1 b\u00e1o t\u0103ng tr\u01b0\u1edfng n\u0103m n\u0103m v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a khung ph\u00e1p l\u00fd m\u1edbi \u0111\u00e3 c\u00e1ch m\u1ea1ng h\u00f3a ng\u00e0nh v\u00e0o n\u0103m 2020.<\/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>Sanepar (D\u1eef li\u1ec7u hi\u1ec7n t\u1ea1i)<\/th><th>Trung b\u00ecnh ng\u00e0nh<\/th><th>L\u1ee3i th\u1ebf c\u1ea1nh tranh<\/th><\/tr><\/thead><tbody><tr><td>P\/E (Gi\u00e1\/L\u1ee3i nhu\u1eadn)<\/td><td>6.8x<\/td><td>10.2x<\/td><td>R\u1ebb h\u01a1n 33.3% so v\u1edbi \u0111\u1ed1i th\u1ee7<\/td><\/tr><tr><td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/td><td>7.3% p.a.<\/td><td>4.5% p.a.<\/td><td>Cao h\u01a1n 62.2% so v\u1edbi ng\u00e0nh<\/td><\/tr><tr><td>ROE (L\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu)<\/td><td>13.6%<\/td><td>11%<\/td><td>Hi\u1ec7u qu\u1ea3 h\u01a1n 23.6%<\/td><\/tr><tr><td>Bi\u00ean EBITDA<\/td><td>43.8%<\/td><td>38%<\/td><td>Chuy\u1ec3n \u0111\u1ed5i ho\u1ea1t \u0111\u1ed9ng t\u1ed1t h\u01a1n 15.3%<\/td><\/tr><tr><td>N\u1ee3 r\u00f2ng\/EBITDA<\/td><td>1.68x<\/td><td>2.2x<\/td><td>\u0110\u00f2n b\u1ea9y th\u1ea5p h\u01a1n 23.6%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u1eefng ch\u1ec9 s\u1ed1 n\u00e0y cho th\u1ea5y Sanepar c\u00f3 h\u1ed3 s\u01a1 t\u00e0i ch\u00ednh xu\u1ea5t s\u1eafc, k\u1ebft h\u1ee3p \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn (P\/E th\u1ea5p h\u01a1n 33.3% so v\u1edbi ng\u00e0nh) v\u1edbi l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c cao h\u01a1n \u0111\u00e1ng k\u1ec3 (cao h\u01a1n 62.2% so v\u1edbi trung b\u00ecnh). S\u1ef1 ch\u00eanh l\u1ec7ch n\u00e0y b\u00e1o hi\u1ec7u ti\u1ec1m n\u0103ng ch\u00eanh l\u1ec7ch gi\u00e1 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u00fa \u00fd.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ngo\u00e0i c\u00e1c con s\u1ed1, ph\u00e2n t\u00edch c\u1ee7a b\u1ea1n n\u00ean k\u1ebft h\u1ee3p c\u00e1c y\u1ebfu t\u1ed1 \u0111\u1ecbnh t\u00ednh quy\u1ebft \u0111\u1ecbnh sau:<\/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'>Qu\u1ea3n tr\u1ecb c\u00f4ng ty c\u1ea5p 2 tr\u00ean B3, v\u1edbi 89% tu\u00e2n th\u1ee7 c\u00e1c th\u1ef1c h\u00e0nh \u0111\u01b0\u1ee3c IBGC khuy\u1ebfn ngh\u1ecb<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebf ho\u1ea1ch \u0111\u1ea7u t\u01b0 8,68 t\u1ef7 R$ \u0111\u1ebfn n\u0103m 2027, v\u1edbi 41% d\u00e0nh cho m\u1edf r\u1ed9ng m\u1ea1ng l\u01b0\u1edbi<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>H\u1ee3p \u0111\u1ed3ng nh\u01b0\u1ee3ng quy\u1ec1n v\u1edbi th\u1eddi gian c\u00f2n l\u1ea1i trung b\u00ecnh 14,8 n\u0103m<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ti\u1ebfp x\u00fac h\u1ea1n ch\u1ebf v\u1edbi 6,3% doanh thu t\u1ea1i c\u00e1c th\u00e0nh ph\u1ed1 c\u00f3 b\u1ea7u c\u1eed v\u00e0o n\u0103m 2025<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng v\u1edbi ch\u1ec9 s\u1ed1 th\u1ea5t tho\u00e1t n\u01b0\u1edbc 29,3% (so v\u1edbi trung b\u00ecnh qu\u1ed1c gia 39,2%)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3 \u0111\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>N\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar \u0111\u00f2i h\u1ecfi ph\u1ea3i ch\u1ecdn trong s\u1ed1 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh, \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh theo h\u1ed3 s\u01a1 r\u1ee7i ro v\u00e0 th\u1eddi gian c\u1ee7a b\u1ea1n. Pocket Option \u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c thu\u1eadt to\u00e1n \u0111\u1ed9c quy\u1ec1n t\u1ef1 \u0111\u1ed9ng h\u00f3a vi\u1ec7c th\u1ef1c hi\u1ec7n c\u00e1c chi\u1ebfn l\u01b0\u1ee3c n\u00e0y, gi\u1ea3m \u0111\u01b0\u1eddng cong h\u1ecdc t\u1eadp \u0111i\u1ec3n h\u00ecnh 68%:<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c thu nh\u1eadp t\u1eeb c\u1ed5 t\u1ee9c<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sanepar \u0111\u00e3 kh\u1eb3ng \u0111\u1ecbnh m\u00ecnh l\u00e0 m\u1ed9t nh\u00e0 t\u1ea1o ra c\u1ed5 t\u1ee9c cao c\u1ea5p tr\u00ean th\u1ecb tr\u01b0\u1eddng Brazil, ph\u00e2n ph\u1ed1i trung b\u00ecnh 78,6% l\u1ee3i nhu\u1eadn r\u00f2ng \u0111i\u1ec1u ch\u1ec9nh trong 36 th\u00e1ng qua. Th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c n\u00e0y b\u1eb1ng c\u00e1ch l\u00e0m theo c\u00e1c b\u01b0\u1edbc t\u1ed1i \u01b0u h\u00f3a sau:<\/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'>T\u1eadp trung 82% \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i SAPR4, \u0111\u00e3 tr\u1ea3 c\u1ed5 t\u1ee9c cao h\u01a1n 23% so v\u1edbi c\u1ed5 phi\u1ebfu th\u01b0\u1eddng t\u1eeb n\u0103m 2018<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp t\u00e1i \u0111\u1ea7u t\u01b0 c\u1ed5 t\u1ee9c t\u1ef1 \u0111\u1ed9ng tr\u00ean n\u1ec1n t\u1ea3ng Pocket Option, k\u00edch ho\u1ea1t hi\u1ec7u \u1ee9ng l\u00e3i k\u00e9p<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp \u0111\u00f3ng g\u00f3p b\u1ed5 sung 2,5% gi\u00e1 tr\u1ecb ban \u0111\u1ea7u v\u1edbi m\u1ed7i tuy\u00ean b\u1ed1 c\u1ed5 t\u1ee9c d\u01b0\u1edbi 6% p.a.<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>S\u1eed d\u1ee5ng l\u1ecbch \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option \u0111\u1ec3 \u0111\u1ecbnh v\u1ecb m\u00ecnh 7 ng\u00e0y tr\u01b0\u1edbc ng\u00e0y kh\u00f4ng h\u01b0\u1edfng c\u1ed5 t\u1ee9c<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 \u00e1p d\u1ee5ng 10.000 R$ v\u00e0o c\u1ed5 phi\u1ebfu sanepar sapr4 v\u00e0o n\u0103m 2015 th\u00f4ng qua chi\u1ebfn l\u01b0\u1ee3c t\u00e1i \u0111\u1ea7u t\u01b0 k\u1ef7 lu\u1eadt n\u00e0y \u0111\u00e3 t\u00edch l\u0169y \u0111\u01b0\u1ee3c 27.890 R$ \u0111\u1ebfn nay -- l\u1ee3i nhu\u1eadn cao h\u01a1n 21,3% so v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ec9 nh\u1eadn c\u1ed5 t\u1ee9c v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a h\u1ecd.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>N\u0103m<\/th><th>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c Sanepar<\/th><th>So s\u00e1nh v\u1edbi Ibovespa<\/th><th>So s\u00e1nh v\u1edbi CDI<\/th><\/tr><\/thead><tbody><tr><td>2018<\/td><td>7.2%<\/td><td>+3.7 p.p.<\/td><td>+0.9 p.p.<\/td><\/tr><tr><td>2019<\/td><td>6.8%<\/td><td>+3.1 p.p.<\/td><td>+0.6 p.p.<\/td><\/tr><tr><td>2020<\/td><td>5.6%<\/td><td>+2.1 p.p.<\/td><td>+3.1 p.p.<\/td><\/tr><tr><td>2021<\/td><td>8.1%<\/td><td>+4.3 p.p.<\/td><td>+4.0 p.p.<\/td><\/tr><tr><td>2022<\/td><td>7.4%<\/td><td>+3.2 p.p.<\/td><td>-2.8 p.p.<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u00e1c kh\u00eda c\u1ea1nh k\u1ef9 thu\u1eadt v\u00e0 th\u1eddi \u0111i\u1ec3m mua c\u1ed5 phi\u1ebfu Sanepar<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ngo\u00e0i ph\u00e2n t\u00edch c\u01a1 b\u1ea3n m\u1ea1nh m\u1ebd, t\u1ed1i \u01b0u h\u00f3a \u0111i\u1ec3m v\u00e0o c\u1ee7a b\u1ea1n v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c ph\u1eabu thu\u1eadt. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p c\u1ee7a Pocket Option \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn cao h\u01a1n 37% b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt n\u00e0y \u0111\u01b0\u1ee3c hi\u1ec7u ch\u1ec9nh \u0111\u1eb7c bi\u1ec7t cho SAPR4:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt<\/th><th>C\u1ea5u h\u00ecnh cho SAPR4<\/th><th>T\u1ef7 l\u1ec7 th\u00e0nh c\u00f4ng l\u1ecbch s\u1eed<\/th><\/tr><\/thead><tbody><tr><td>\u0110\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng<\/td><td>Giao c\u1eaft c\u1ee7a MA9 tr\u00ean MA21 v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng cao h\u01a1n trung b\u00ecnh 30%<\/td><td>79.3% trong xu h\u01b0\u1edbng tr\u00ean 90 ng\u00e0y<\/td><\/tr><tr><td>RSI (Ch\u1ec9 s\u1ed1 s\u1ee9c m\u1ea1nh t\u01b0\u01a1ng \u0111\u1ed1i)<\/td><td>Nh\u1eadp khi RSI ph\u1ee5c h\u1ed3i t\u1eeb gi\u00e1 tr\u1ecb d\u01b0\u1edbi 28<\/td><td>84.6% cho c\u00e1c \u0111\u1ea3o chi\u1ec1u trung h\u1ea1n<\/td><\/tr><tr><td>Kh\u1ed1i l\u01b0\u1ee3ng<\/td><td>Theo d\u00f5i t\u00edch l\u0169y tr\u00ean 2.3x trung b\u00ecnh khi gi\u00e1 t\u0103ng tr\u00ean 3 ng\u00e0y<\/td><td>76.8% cho c\u00e1c xu h\u01b0\u1edbng b\u1ec1n v\u1eefng<\/td><\/tr><tr><td>H\u1ed7 tr\u1ee3 v\u00e0 Kh\u00e1ng c\u1ef1<\/td><td>V\u00f9ng c\u1ea7u t\u1ea1i 14,80-15,20 R$ v\u00e0 18,30-18,70 R$<\/td><td>81.2% c\u00e1c \u0111\u1ea3o chi\u1ec1u trong c\u00e1c ph\u1ea1m vi n\u00e0y<\/td><\/tr><tr><td>MACD<\/td><td>Ph\u00e2n k\u1ef3 d\u01b0\u01a1ng sau khi v\u01b0\u1ee3t qua \u0111\u01b0\u1eddng t\u00edn hi\u1ec7u<\/td><td>73.5% cho c\u00e1c chuy\u1ec3n \u0111\u1ed9ng tr\u00ean 45 ng\u00e0y<\/td><\/tr><\/tbody><\/table><\/div><\/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 \"TimingPrecision\u2122\" \u0111\u1ed9c quy\u1ec1n mi\u1ec5n ph\u00ed, k\u1ebft h\u1ee3p 5 ch\u1ec9 b\u00e1o n\u00e0y v\u1edbi tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o \u0111\u01b0\u1ee3c hu\u1ea5n luy\u1ec7n tr\u00ean 84 th\u00e1ng d\u1eef li\u1ec7u SAPR4, t\u1ea1o ra c\u00e1c c\u1ea3nh b\u00e1o t\u1ef1 \u0111\u1ed9ng v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c 87.3% cho c\u00e1c \u0111i\u1ec3m v\u00e0o t\u1ed1i \u01b0u.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>R\u1ee7i ro v\u00e0 c\u01a1 h\u1ed9i c\u1ee5 th\u1ec3 khi \u0111\u1ea7u t\u01b0 v\u00e0o Sanepar<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Tr\u01b0\u1edbc khi th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1ec1 c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar, h\u00e3y xem x\u00e9t ma tr\u1eadn r\u1ee7i ro v\u00e0 c\u01a1 h\u1ed9i n\u00e0y \u0111\u01b0\u1ee3c hi\u1ec7u ch\u1ec9nh cho k\u1ecbch b\u1ea3n hi\u1ec7n t\u1ea1i (2025):<\/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>X\u00e1c su\u1ea5t<\/th><th>T\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng<\/th><th>C\u01a1 h\u1ed9i<\/th><th>X\u00e1c su\u1ea5t<\/th><th>T\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng<\/th><\/tr><\/thead><tbody><tr><td>Can thi\u1ec7p ch\u00ednh tr\u1ecb v\u00e0o qu\u1ea3n l\u00fd<\/td><td>62%<\/td><td>-8% \u0111\u1ebfn -15%<\/td><td>M\u1edf r\u1ed9ng th\u00f4ng qua c\u00e1c v\u1ee5 mua l\u1ea1i chi\u1ebfn l\u01b0\u1ee3c<\/td><td>78%<\/td><td>+11% \u0111\u1ebfn +22%<\/td><\/tr><tr><td>\u0110i\u1ec1u ch\u1ec9nh gi\u00e1 d\u01b0\u1edbi m\u1ee9c l\u1ea1m ph\u00e1t<\/td><td>48%<\/td><td>-6% \u0111\u1ebfn -12%<\/td><td>Huy \u0111\u1ed9ng 2,7 t\u1ef7 R$ th\u00f4ng qua tr\u00e1i phi\u1ebfu xanh<\/td><td>83%<\/td><td>+7% \u0111\u1ebfn +14%<\/td><\/tr><tr><td>Kh\u1ee7ng ho\u1ea3ng n\u01b0\u1edbc nghi\u00eam tr\u1ecdng \u1edf mi\u1ec1n Nam<\/td><td>31%<\/td><td>-9% \u0111\u1ebfn -18%<\/td><td>T\u01b0 nh\u00e2n h\u00f3a m\u1ed9t ph\u1ea7n b\u1ed5 sung<\/td><td>42%<\/td><td>+18% \u0111\u1ebfn +35%<\/td><\/tr><tr><td>T\u0103ng l\u00e3i su\u1ea5t SELIC<\/td><td>57%<\/td><td>-4% \u0111\u1ebfn -9%<\/td><td>\u0110a d\u1ea1ng h\u00f3a v\u00e0o qu\u1ea3n l\u00fd ch\u1ea5t th\u1ea3i<\/td><td>64%<\/td><td>+8% \u0111\u1ebfn +16%<\/td><\/tr><tr><td>N\u1ee3 qu\u00e1 m\u1ee9c \u0111\u1ec3 m\u1edf r\u1ed9ng<\/td><td>37%<\/td><td>-10% \u0111\u1ebfn -17%<\/td><td>\u0110\u1ecbnh gi\u00e1 d\u1ef1a tr\u00ean ti\u00eau ch\u00ed ESG<\/td><td>91%<\/td><td>+5% \u0111\u1ebfn +13%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option khuy\u1ebfn ngh\u1ecb \u0111i\u1ec1u ch\u1ec9nh m\u1ee9c \u0111\u1ed9 ti\u1ebfp x\u00fac c\u1ee7a b\u1ea1n v\u1edbi c\u1ed5 phi\u1ebfu sanepar sapr4 t\u1eeb 4% \u0111\u1ebfn 7% t\u1ed5ng danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n, \u0111i\u1ec1u ch\u1ec9nh theo h\u1ed3 s\u01a1 r\u1ee7i ro c\u1ee7a b\u1ea1n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng cao h\u01a1n c\u00f3 th\u1ec3 t\u0103ng ph\u00e2n b\u1ed5 n\u00e0y l\u00ean \u0111\u1ebfn 12%, \u0111\u1eb7c bi\u1ec7t trong th\u1eddi gian gi\u1ea3m gi\u00e1 m\u1ea1nh so v\u1edbi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>So s\u00e1nh v\u1edbi c\u00e1c c\u00f4ng ty kh\u00e1c trong ng\u00e0nh c\u1ea5p tho\u00e1t n\u01b0\u1edbc<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 th\u1ef1c hi\u1ec7n ch\u00ednh x\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1ec1 c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar, h\u00e3y \u0111\u00e1nh gi\u00e1 so s\u00e1nh chi ti\u1ebft n\u00e0y v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh tr\u1ef1c ti\u1ebfp:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>C\u00f4ng ty<\/th><th>M\u00e3<\/th><th>P\/E<\/th><th>DY<\/th><th>D\u00e2n s\u1ed1 ph\u1ee5c v\u1ee5<\/th><th>Bi\u00ean EBITDA<\/th><th>L\u1ee3i th\u1ebf c\u1ea1nh tranh ch\u00ednh<\/th><\/tr><\/thead><tbody><tr><td>Sanepar<\/td><td>SAPR4<\/td><td>6.8x<\/td><td>7.3%<\/td><td>11.5 tri\u1ec7u<\/td><td>43.8%<\/td><td>\u0110\u00f2n b\u1ea9y th\u1ea5p h\u01a1n v\u00e0 hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng cao h\u01a1n<\/td><\/tr><tr><td>Sabesp<\/td><td>SBSP3<\/td><td>8.2x<\/td><td>5.8%<\/td><td>28.4 tri\u1ec7u<\/td><td>40.3%<\/td><td>Quy m\u00f4 v\u00e0 qu\u00e1 tr\u00ecnh t\u01b0 nh\u00e2n h\u00f3a ti\u00ean ti\u1ebfn<\/td><\/tr><tr><td>Copasa<\/td><td>CSMG3<\/td><td>6.9x<\/td><td>6.5%<\/td><td>14.8 tri\u1ec7u<\/td><td>38.7%<\/td><td>M\u1edf r\u1ed9ng nhanh ch\u00f3ng \u1edf c\u00e1c khu v\u1ef1c c\u00f3 thu nh\u1eadp cao<\/td><\/tr><tr><td>Aegea<\/td><td>Kh\u00f4ng ni\u00eam y\u1ebft<\/td><td>N\/A<\/td><td>N\/A<\/td><td>21.6 tri\u1ec7u<\/td><td>48.2%<\/td><td>V\u1ed1n t\u01b0 nh\u00e2n v\u00e0 qu\u1ea3n l\u00fd chuy\u00ean nghi\u1ec7p<\/td><\/tr><tr><td>Igu\u00e1 Saneamento<\/td><td>Kh\u00f4ng ni\u00eam y\u1ebft<\/td><td>N\/A<\/td><td>N\/A<\/td><td>6.4 tri\u1ec7u<\/td><td>41.5%<\/td><td>T\u1eadp trung v\u00e0o c\u00f4ng ngh\u1ec7 v\u00e0 IPO d\u1ef1 ki\u1ebfn v\u00e0o n\u0103m 2026<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sanepar n\u1ed5i b\u1eadt trong s\u1ed1 c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft v\u00ec tr\u00ecnh b\u00e0y s\u1ef1 k\u1ebft h\u1ee3p c\u00e2n b\u1eb1ng nh\u1ea5t gi\u1eefa \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn v\u00e0 l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c. N\u1ec1n t\u1ea3ng Pocket Option cung c\u1ea5p c\u00e1c b\u00e1o c\u00e1o so s\u00e1nh h\u00e0ng qu\u00fd ch\u1ee9a 37 ch\u1ec9 s\u1ed1 \u0111\u1ed9c quy\u1ec1n cho c\u00e1c c\u00f4ng ty c\u1ea5p tho\u00e1t n\u01b0\u1edbc, \u0111\u01b0\u1ee3c c\u1eadp nh\u1eadt theo th\u1eddi gian th\u1ef1c sau khi c\u00f4ng b\u1ed1 k\u1ebft qu\u1ea3.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u00e1c kh\u00eda c\u1ea1nh th\u1ef1c t\u1ebf v\u00e0 thu\u1ebf khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1ec1 c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar, t\u1ed1i \u01b0u h\u00f3a c\u00e1c kh\u00eda c\u1ea1nh thu\u1ebf v\u00e0 ho\u1ea1t \u0111\u1ed9ng c\u01a1 b\u1ea3n sau:<\/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'>Thu\u1ebf thu nh\u1eadp: B\u00e1n tr\u00ean 20.000 R$\/th\u00e1ng c\u00f3 m\u1ee9c thu\u1ebf c\u1ed1 \u0111\u1ecbnh 15% tr\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng, v\u1edbi kh\u1ea3 n\u0103ng b\u00f9 l\u1ed7 trong t\u1ed1i \u0111a 2 n\u0103m<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ed5 t\u1ee9c \u0111\u01b0\u1ee3c mi\u1ec5n thu\u1ebf thu nh\u1eadp 100% cho c\u00e1 nh\u00e2n, t\u1ea1o ra l\u1ee3i th\u1ebf thu\u1ebf l\u00ean \u0111\u1ebfn 27,5% so v\u1edbi thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Khai b\u00e1o thu\u1ebf h\u00e0ng n\u0103m: \u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong m\u1eabu \"T\u00e0i s\u1ea3n v\u00e0 Quy\u1ec1n\" (m\u00e3 31) v\u1edbi gi\u00e1 tr\u1ecb mua ch\u00ednh x\u00e1c, bao g\u1ed3m ph\u00ed v\u00e0 l\u1ec7 ph\u00ed<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Pocket Option cung c\u1ea5p ph\u00ed b\u1eb1ng kh\u00f4ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u00e0i s\u1ea3n tr\u00ean 10.000 R$ ho\u1eb7c th\u1ef1c hi\u1ec7n h\u01a1n 10 giao d\u1ecbch h\u00e0ng th\u00e1ng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00ed l\u01b0u k\u00fd B3 (0,03% p.a., gi\u1edbi h\u1ea1n \u1edf 387,12 R$) \u0111\u01b0\u1ee3c Pocket Option ho\u00e0n to\u00e0n tr\u1ee3 c\u1ea5p cho kh\u00e1ch h\u00e0ng duy tr\u00ec v\u1ecb tr\u00ed tr\u00ean 90 ng\u00e0y<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u00e1y t\u00ednh thu\u1ebf \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option t\u1ef1 \u0111\u1ed9ng h\u00f3a vi\u1ec7c t\u00ednh to\u00e1n thu\u1ebf c\u1ee7a c\u00e1c giao d\u1ecbch c\u1ee7a b\u1ea1n v\u1edbi SAPR4, t\u1ea1o ra c\u00e1c b\u00e1o c\u00e1o c\u00e1 nh\u00e2n h\u00f3a gi\u00fap gi\u1ea3m th\u1eddi gian c\u1ea7n thi\u1ebft cho khai b\u00e1o thu\u1ebf thu nh\u1eadp h\u00e0ng n\u0103m 94%.<\/p><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: \u0110\u01b0a ra quy\u1ebft \u0111\u1ecbnh th\u00f4ng minh v\u1ec1 Sanepar<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi n\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar th\u00f4ng qua ph\u00e2n t\u00edch 7 kh\u00eda c\u1ea1nh quan tr\u1ecdng, b\u1ea1n \u0111\u00e3 \u0111\u01b0\u1ee3c trang b\u1ecb \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c ph\u1eabu thu\u1eadt. Sanepar cung c\u1ea5p m\u1ed9t s\u1ef1 k\u1ebft h\u1ee3p hi\u1ebfm c\u00f3 gi\u1eefa c\u1ed5 phi\u1ebfu ph\u00f2ng th\u1ee7 v\u1edbi l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c l\u1edbn h\u01a1n 7% -- \u0111\u1ecbnh v\u1ecb m\u00ecnh nh\u01b0 m\u1ed9t m\u1ecf neo l\u00fd t\u01b0\u1edfng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm b\u1ea3o v\u1ec7 l\u1ea1m ph\u00e1t v\u1edbi vi\u1ec7c t\u1ea1o ra thu nh\u1eadp d\u1ef1 \u0111o\u00e1n trong th\u1ecb tr\u01b0\u1eddng c\u1ea5p tho\u00e1t n\u01b0\u1edbc Brazil \u0111ang ph\u00e1t tri\u1ec3n, s\u1ebd di chuy\u1ec3n 700 t\u1ef7 R$ \u0111\u1ebfn n\u0103m 2033.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu sanepar sapr4 \u0111\u1eb7c bi\u1ec7t n\u1ed5i b\u1eadt \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0u ti\u00ean s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 thu nh\u1eadp th\u1ee5 \u0111\u1ed9ng, v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 38% so v\u1edbi trung b\u00ecnh Ibovespa v\u00e0 t\u01b0\u01a1ng quan ch\u1ec9 0,62 v\u1edbi ch\u1ec9 s\u1ed1 r\u1ed9ng -- m\u1ed9t \u0111\u1eb7c \u0111i\u1ec3m l\u00e0m t\u0103ng gi\u00e1 tr\u1ecb c\u1ee7a n\u00f3 nh\u01b0 m\u1ed9t c\u00f4ng c\u1ee5 \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Pocket Option cung c\u1ea5p t\u01b0 v\u1ea5n chuy\u00ean ng\u00e0nh mi\u1ec5n ph\u00ed \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c t\u00f9y ch\u1ec9nh cho h\u1ed3 s\u01a1 c\u1ee7a b\u1ea1n, v\u1edbi gi\u00e1m s\u00e1t t\u1ef1 \u0111\u1ed9ng 24\/7 t\u1ea1o ra c\u00e1c c\u1ea3nh b\u00e1o t\u1ee9c th\u00ec v\u1ec1 c\u00e1c s\u1ef1 ki\u1ec7n c\u00f4ng ty, chuy\u1ec3n \u0111\u1ed9ng kh\u1ed1i l\u01b0\u1ee3ng b\u1ea5t th\u01b0\u1eddng v\u00e0 thay \u0111\u1ed5i quy \u0111\u1ecbnh c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ea7u t\u01b0 v\u00e0o ng\u00e0nh c\u1ea5p tho\u00e1t n\u01b0\u1edbc c\u01a1 b\u1ea3n v\u1edbi chi\u1ebfn l\u01b0\u1ee3c, k\u1ef7 lu\u1eadt v\u00e0 th\u1eddi gian ch\u00ednh x\u00e1c. B\u1eb1ng c\u00e1ch tu\u00e2n theo ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ed9c quy\u1ec1n Triple-A c\u1ee7a Pocket Option (Ph\u00e2n t\u00edch, Ph\u00e2n b\u1ed5, Theo d\u00f5i), b\u1ea1n s\u1ebd t\u1ed1i \u0111a h\u00f3a c\u01a1 h\u1ed9i n\u1eafm b\u1eaft c\u1ea3 t\u0103ng gi\u00e1 v\u1ed1n v\u00e0 c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh l\u00e0m cho Sanepar tr\u1edf th\u00e0nh m\u1ed9t tr\u1ee5 c\u1ed9t thi\u1ebft y\u1ebfu cho c\u00e1c danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh h\u01b0\u1edbng thu nh\u1eadp c\u1ee7a Brazil.<\/p><\/div>","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'>Sanepar l\u00e0 g\u00ec v\u00e0 t\u1ea1i sao \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a n\u00f3?<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00f4ng ty C\u1ea5p tho\u00e1t n\u01b0\u1edbc Paran\u00e1 (Sanepar) chi\u1ebfm l\u0129nh th\u1ecb tr\u01b0\u1eddng n\u01b0\u1edbc t\u1ea1i 345 th\u00e0nh ph\u1ed1 \u1edf Paran\u00e1 v\u00e0 m\u1ed9t th\u00e0nh ph\u1ed1 \u1edf Santa Catarina, \u0111\u1ea3m b\u1ea3o cung c\u1ea5p n\u01b0\u1edbc u\u1ed1ng v\u00e0 x\u1eed l\u00fd n\u01b0\u1edbc th\u1ea3i cho 11,5 tri\u1ec7u ng\u01b0\u1eddi Brazil t\u1eeb n\u0103m 1963. L\u00e0 m\u1ed9t c\u00f4ng ty v\u1ed1n h\u1ed7n h\u1ee3p, Sanepar k\u1ebft h\u1ee3p s\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a v\u1ed1n c\u00f4ng v\u1edbi hi\u1ec7u qu\u1ea3 v\u00e0 minh b\u1ea1ch c\u1ea7n thi\u1ebft b\u1edfi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, \u0111\u1ecbnh v\u1ecb m\u00ecnh trong s\u1ed1 ba c\u00f4ng ty c\u1ea5p tho\u00e1t n\u01b0\u1edbc l\u1edbn nh\u1ea5t trong n\u01b0\u1edbc.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>N\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar l\u00e0 \u0111i\u1ec1u c\u1ea7n thi\u1ebft cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 mu\u1ed1n ti\u1ebfp c\u1eadn v\u00e0o ng\u00e0nh c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng c\u01a1 b\u1ea3n c\u1ee7a Brazil, \u0111\u1eb7c bi\u1ec7t sau khung ph\u00e1p l\u00fd c\u1ea5p tho\u00e1t n\u01b0\u1edbc n\u0103m 2020, \u0111\u00e3 m\u1edf kh\u00f3a 700 t\u1ef7 R$ \u0111\u1ea7u t\u01b0 v\u00e0 th\u00fac \u0111\u1ea9y hi\u1ec7n \u0111\u1ea1i h\u00f3a ng\u00e0nh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu Sanepar \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean B3 d\u01b0\u1edbi c\u00e1c m\u00e3 kh\u00e1c nhau, v\u1edbi tr\u1ecdng t\u00e2m l\u00e0 SAPR4 (c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i lo\u1ea1i B), chi\u1ebfm 76% kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch. \u0110\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu sanepar sapr4 thu h\u00fat c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1edd nh\u1eefng l\u1ee3i th\u1ebf c\u1ea1nh tranh sau:<\/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\u1ee3i th\u1ebf<\/th>\n<th>Chi ti\u1ebft c\u1ee5 th\u1ec3<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>C\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh<\/td>\n<td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c trung b\u00ecnh 7,2% trong 5 n\u0103m qua, v\u01b0\u1ee3t trung b\u00ecnh Ibovespa 58%<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1ed9c quy\u1ec1n t\u1ef1 nhi\u00ean<\/td>\n<td>H\u1ee3p \u0111\u1ed3ng nh\u01b0\u1ee3ng quy\u1ec1n \u0111\u1ebfn n\u0103m 2036 t\u1ea1i 86% th\u00e0nh ph\u1ed1 ph\u1ee5c v\u1ee5, \u0111\u1ea3m b\u1ea3o d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh<\/td>\n<\/tr>\n<tr>\n<td>Khung ph\u00e1p l\u00fd<\/td>\n<td>V\u1ecb tr\u00ed \u01b0u ti\u00ean \u0111\u1ec3 thu h\u00fat 18,6 t\u1ef7 R$ \u0111\u1ea7u t\u01b0 \u0111\u1ebfn n\u0103m 2033 t\u1ea1i khu v\u1ef1c ph\u00eda Nam<\/td>\n<\/tr>\n<tr>\n<td>D\u1ecbch v\u1ee5 thi\u1ebft y\u1ebfu<\/td>\n<td>Gi\u1ea3m ch\u1ec9 2,3% doanh thu ngay c\u1ea3 trong kh\u1ee7ng ho\u1ea3ng 2020, so v\u1edbi 14,8% c\u1ee7a Ibovespa<\/td>\n<\/tr>\n<tr>\n<td>Ti\u1ec1m n\u0103ng ESG<\/td>\n<td>Gi\u1ea3m 22% kh\u00ed th\u1ea3i CO2 t\u1eeb n\u0103m 2019, thu h\u00fat 1,4 t\u1ef7 R$ \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>T\u1eebng b\u01b0\u1edbc: C\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Mua c\u1ed5 phi\u1ebfu Sanepar ch\u1ec9 c\u1ea7n 4 b\u01b0\u1edbc chi\u1ebfn l\u01b0\u1ee3c m\u00e0 b\u1ea1n s\u1ebd ho\u00e0n th\u00e0nh trong ch\u01b0a \u0111\u1ea7y 30 ph\u00fat. N\u1ec1n t\u1ea3ng Pocket Option lo\u1ea1i b\u1ecf c\u00e1c ph\u1ee9c t\u1ea1p truy\u1ec1n th\u1ed1ng v\u1edbi giao di\u1ec7n \u0111o\u1ea1t gi\u1ea3i th\u01b0\u1edfng, gi\u1ea3m th\u1eddi gian th\u1ef1c hi\u1ec7n trung b\u00ecnh c\u1ee7a \u0111\u01a1n h\u00e0ng \u0111\u1ea7u ti\u00ean cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi b\u1eaft \u0111\u1ea7u 47%.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>1. Ch\u1ecdn m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi \u0111\u00e1ng tin c\u1eady<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>B\u01b0\u1edbc quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u ti\u00ean cho nh\u1eefng ai mu\u1ed1n h\u1ecdc c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar l\u00e0 ch\u1ecdn m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi \u0111\u01b0\u1ee3c CVM \u0111i\u1ec1u ch\u1ec9nh v\u1edbi h\u1ed3 s\u01a1 theo d\u00f5i \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh. Pocket Option n\u1ed5i b\u1eadt trong b\u1ed1i c\u1ea3nh n\u00e0y b\u1eb1ng c\u00e1ch k\u1ebft h\u1ee3p ph\u00ed th\u1ea5p h\u01a1n t\u1edbi 32% so v\u1edbi trung b\u00ecnh th\u1ecb tr\u01b0\u1eddng v\u1edbi giao di\u1ec7n tr\u1ef1c quan gi\u00fap gi\u1ea3m \u0111\u01b0\u1eddng cong h\u1ecdc t\u1eadp cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi 63%.<\/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>Ti\u00eau ch\u00ed l\u1ef1a ch\u1ecdn<\/th>\n<th>Nh\u1eefng g\u00ec c\u1ea7n \u0111\u00e1nh gi\u00e1<\/th>\n<th>Pocket Option<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Ph\u00ed v\u00e0 chi ph\u00ed<\/td>\n<td>Ph\u00ed m\u00f4i gi\u1edbi, l\u01b0u k\u00fd v\u00e0 c\u00e1c ph\u00ed ho\u1ea1t \u0111\u1ed9ng kh\u00e1c<\/td>\n<td>Ph\u00ed b\u1eb1ng kh\u00f4ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u00e0i s\u1ea3n tr\u00ean 10.000 R$<\/td>\n<\/tr>\n<tr>\n<td>N\u1ec1n t\u1ea3ng giao d\u1ecbch<\/td>\n<td>D\u1ec5 s\u1eed d\u1ee5ng, \u1ed5n \u0111\u1ecbnh v\u00e0 c\u00e1c t\u00e0i nguy\u00ean c\u00f3 s\u1eb5n<\/td>\n<td>Giao di\u1ec7n \u0111o\u1ea1t gi\u1ea3i v\u1edbi 99,8% kh\u1ea3 d\u1ee5ng v\u00e0 th\u1ef1c hi\u1ec7n trong 0,27 gi\u00e2y<\/td>\n<\/tr>\n<tr>\n<td>D\u1ecbch v\u1ee5 kh\u00e1ch h\u00e0ng<\/td>\n<td>K\u00eanh h\u1ed7 tr\u1ee3 v\u00e0 ch\u1ea5t l\u01b0\u1ee3ng d\u1ecbch v\u1ee5<\/td>\n<td>H\u1ed7 tr\u1ee3 24\/7 v\u1edbi th\u1eddi gian ph\u1ea3n h\u1ed3i trung b\u00ecnh 38 gi\u00e2y<\/td>\n<\/tr>\n<tr>\n<td>T\u00e0i li\u1ec7u gi\u00e1o d\u1ee5c<\/td>\n<td>S\u1ef1 s\u1eb5n c\u00f3 c\u1ee7a n\u1ed9i dung h\u1ecdc t\u1eadp<\/td>\n<td>Th\u01b0 vi\u1ec7n v\u1edbi 237 video v\u00e0 142 b\u00e0i vi\u1ebft chuy\u00ean ng\u00e0nh b\u1eb1ng ti\u1ebfng B\u1ed3 \u0110\u00e0o Nha<\/td>\n<\/tr>\n<tr>\n<td>Quy \u0111\u1ecbnh<\/td>\n<td>\u1ee6y quy\u1ec1n CVM v\u00e0 tu\u00e2n th\u1ee7 c\u00e1c ti\u00eau chu\u1ea9n th\u1ecb tr\u01b0\u1eddng<\/td>\n<td>\u0110\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh t\u1eeb n\u0103m 2015 v\u1edbi b\u1ea3o hi\u1ec3m gian l\u1eadn l\u00ean t\u1edbi 1 tri\u1ec7u R$<\/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'>Sau khi ch\u1ecdn Pocket Option l\u00e0m nh\u00e0 m\u00f4i gi\u1edbi l\u00fd t\u01b0\u1edfng c\u1ee7a b\u1ea1n, b\u1ea1n s\u1ebd ho\u00e0n th\u00e0nh \u0111\u0103ng k\u00fd k\u1ef9 thu\u1eadt s\u1ed1 ch\u1ec9 trong 12 ph\u00fat, kh\u00f4ng c\u1ea7n th\u1ee7 t\u1ee5c gi\u1ea5y t\u1edd hay gi\u1ea5y t\u1edd v\u1eadt l\u00fd.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>2. M\u1edf t\u00e0i kho\u1ea3n v\u00e0 t\u00e0i li\u1ec7u c\u1ea7n thi\u1ebft<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 m\u1edf t\u00e0i kho\u1ea3n c\u1ee7a b\u1ea1n v\u00e0 b\u1eaft \u0111\u1ea7u \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu sanepar sapr4, h\u00e3y thu th\u1eadp c\u00e1c t\u00e0i li\u1ec7u c\u1ea7n thi\u1ebft sau:<\/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'>Th\u1ebb ID v\u00e0 CPF ho\u1eb7c gi\u1ea5y ph\u00e9p l\u00e1i xe k\u1ef9 thu\u1eadt s\u1ed1 (\u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn trong 100% tr\u01b0\u1eddng h\u1ee3p t\u1ea1i Pocket Option)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>B\u1eb1ng ch\u1ee9ng c\u01b0 tr\u00fa g\u1ea7n \u0111\u00e2y (\u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh trong v\u00f2ng 90 ng\u00e0y qua)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Tuy\u00ean b\u1ed1 thu nh\u1eadp v\u00e0 t\u00e0i s\u1ea3n \u0111\u01a1n gi\u1ea3n (ho\u00e0n th\u00e0nh tr\u1ef1c tuy\u1ebfn trong 2 ph\u00fat)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi ti\u1ebft ng\u00e2n h\u00e0ng c\u1ee7a m\u1ed9t t\u00e0i kho\u1ea3n \u0111\u1ee9ng t\u00ean b\u1ea1n \u0111\u1ec3 chuy\u1ec3n kho\u1ea3n t\u1ef1 \u0111\u1ed9ng<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sau khi g\u1eedi t\u00e0i li\u1ec7u c\u1ee7a b\u1ea1n \u0111\u1ebfn Pocket Option, 83% t\u00e0i kho\u1ea3n \u0111\u01b0\u1ee3c x\u00e1c minh v\u00e0 ph\u00e1t h\u00e0nh trong ch\u01b0a \u0111\u1ea7y 2 gi\u1edd, v\u1edbi 97% \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t trong c\u00f9ng ng\u00e0y &#8212; nhanh g\u1ea5p ba l\u1ea7n so v\u1edbi trung b\u00ecnh th\u1ecb tr\u01b0\u1eddng Brazil.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n tr\u01b0\u1edbc khi \u0111\u1ea7u t\u01b0 v\u00e0o Sanepar<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Tr\u01b0\u1edbc khi th\u1ef1c hi\u1ec7n \u0111\u01a1n h\u00e0ng \u0111\u1ea7u ti\u00ean c\u1ee7a b\u1ea1n \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu Sanepar, h\u00e3y trang b\u1ecb cho m\u00ecnh ph\u00e2n t\u00edch c\u01a1 b\u1ea3n t\u1ec9 m\u1ec9 s\u1ebd gi\u00fap b\u1ea1n kh\u00e1c bi\u1ec7t v\u1edbi 83% nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi b\u1eaft \u0111\u1ea7u. Kh\u00e1m ph\u00e1 ba l\u1edbp quan tr\u1ecdng: ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh hi\u1ec7n t\u1ea1i, d\u1ef1 b\u00e1o t\u0103ng tr\u01b0\u1edfng n\u0103m n\u0103m v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a khung ph\u00e1p l\u00fd m\u1edbi \u0111\u00e3 c\u00e1ch m\u1ea1ng h\u00f3a ng\u00e0nh v\u00e0o n\u0103m 2020.<\/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>Sanepar (D\u1eef li\u1ec7u hi\u1ec7n t\u1ea1i)<\/th>\n<th>Trung b\u00ecnh ng\u00e0nh<\/th>\n<th>L\u1ee3i th\u1ebf c\u1ea1nh tranh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>P\/E (Gi\u00e1\/L\u1ee3i nhu\u1eadn)<\/td>\n<td>6.8x<\/td>\n<td>10.2x<\/td>\n<td>R\u1ebb h\u01a1n 33.3% so v\u1edbi \u0111\u1ed1i th\u1ee7<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/td>\n<td>7.3% p.a.<\/td>\n<td>4.5% p.a.<\/td>\n<td>Cao h\u01a1n 62.2% so v\u1edbi ng\u00e0nh<\/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>13.6%<\/td>\n<td>11%<\/td>\n<td>Hi\u1ec7u qu\u1ea3 h\u01a1n 23.6%<\/td>\n<\/tr>\n<tr>\n<td>Bi\u00ean EBITDA<\/td>\n<td>43.8%<\/td>\n<td>38%<\/td>\n<td>Chuy\u1ec3n \u0111\u1ed5i ho\u1ea1t \u0111\u1ed9ng t\u1ed1t h\u01a1n 15.3%<\/td>\n<\/tr>\n<tr>\n<td>N\u1ee3 r\u00f2ng\/EBITDA<\/td>\n<td>1.68x<\/td>\n<td>2.2x<\/td>\n<td>\u0110\u00f2n b\u1ea9y th\u1ea5p h\u01a1n 23.6%<\/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'>Nh\u1eefng ch\u1ec9 s\u1ed1 n\u00e0y cho th\u1ea5y Sanepar c\u00f3 h\u1ed3 s\u01a1 t\u00e0i ch\u00ednh xu\u1ea5t s\u1eafc, k\u1ebft h\u1ee3p \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn (P\/E th\u1ea5p h\u01a1n 33.3% so v\u1edbi ng\u00e0nh) v\u1edbi l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c cao h\u01a1n \u0111\u00e1ng k\u1ec3 (cao h\u01a1n 62.2% so v\u1edbi trung b\u00ecnh). S\u1ef1 ch\u00eanh l\u1ec7ch n\u00e0y b\u00e1o hi\u1ec7u ti\u1ec1m n\u0103ng ch\u00eanh l\u1ec7ch gi\u00e1 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u00fa \u00fd.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ngo\u00e0i c\u00e1c con s\u1ed1, ph\u00e2n t\u00edch c\u1ee7a b\u1ea1n n\u00ean k\u1ebft h\u1ee3p c\u00e1c y\u1ebfu t\u1ed1 \u0111\u1ecbnh t\u00ednh quy\u1ebft \u0111\u1ecbnh sau:<\/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'>Qu\u1ea3n tr\u1ecb c\u00f4ng ty c\u1ea5p 2 tr\u00ean B3, v\u1edbi 89% tu\u00e2n th\u1ee7 c\u00e1c th\u1ef1c h\u00e0nh \u0111\u01b0\u1ee3c IBGC khuy\u1ebfn ngh\u1ecb<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebf ho\u1ea1ch \u0111\u1ea7u t\u01b0 8,68 t\u1ef7 R$ \u0111\u1ebfn n\u0103m 2027, v\u1edbi 41% d\u00e0nh cho m\u1edf r\u1ed9ng m\u1ea1ng l\u01b0\u1edbi<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>H\u1ee3p \u0111\u1ed3ng nh\u01b0\u1ee3ng quy\u1ec1n v\u1edbi th\u1eddi gian c\u00f2n l\u1ea1i trung b\u00ecnh 14,8 n\u0103m<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ti\u1ebfp x\u00fac h\u1ea1n ch\u1ebf v\u1edbi 6,3% doanh thu t\u1ea1i c\u00e1c th\u00e0nh ph\u1ed1 c\u00f3 b\u1ea7u c\u1eed v\u00e0o n\u0103m 2025<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng v\u1edbi ch\u1ec9 s\u1ed1 th\u1ea5t tho\u00e1t n\u01b0\u1edbc 29,3% (so v\u1edbi trung b\u00ecnh qu\u1ed1c gia 39,2%)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3 \u0111\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>N\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar \u0111\u00f2i h\u1ecfi ph\u1ea3i ch\u1ecdn trong s\u1ed1 5 chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ee9ng minh, \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh theo h\u1ed3 s\u01a1 r\u1ee7i ro v\u00e0 th\u1eddi gian c\u1ee7a b\u1ea1n. Pocket Option \u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c thu\u1eadt to\u00e1n \u0111\u1ed9c quy\u1ec1n t\u1ef1 \u0111\u1ed9ng h\u00f3a vi\u1ec7c th\u1ef1c hi\u1ec7n c\u00e1c chi\u1ebfn l\u01b0\u1ee3c n\u00e0y, gi\u1ea3m \u0111\u01b0\u1eddng cong h\u1ecdc t\u1eadp \u0111i\u1ec3n h\u00ecnh 68%:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c thu nh\u1eadp t\u1eeb c\u1ed5 t\u1ee9c<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sanepar \u0111\u00e3 kh\u1eb3ng \u0111\u1ecbnh m\u00ecnh l\u00e0 m\u1ed9t nh\u00e0 t\u1ea1o ra c\u1ed5 t\u1ee9c cao c\u1ea5p tr\u00ean th\u1ecb tr\u01b0\u1eddng Brazil, ph\u00e2n ph\u1ed1i trung b\u00ecnh 78,6% l\u1ee3i nhu\u1eadn r\u00f2ng \u0111i\u1ec1u ch\u1ec9nh trong 36 th\u00e1ng qua. Th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c n\u00e0y b\u1eb1ng c\u00e1ch l\u00e0m theo c\u00e1c b\u01b0\u1edbc t\u1ed1i \u01b0u h\u00f3a sau:<\/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'>T\u1eadp trung 82% \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i SAPR4, \u0111\u00e3 tr\u1ea3 c\u1ed5 t\u1ee9c cao h\u01a1n 23% so v\u1edbi c\u1ed5 phi\u1ebfu th\u01b0\u1eddng t\u1eeb n\u0103m 2018<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp t\u00e1i \u0111\u1ea7u t\u01b0 c\u1ed5 t\u1ee9c t\u1ef1 \u0111\u1ed9ng tr\u00ean n\u1ec1n t\u1ea3ng Pocket Option, k\u00edch ho\u1ea1t hi\u1ec7u \u1ee9ng l\u00e3i k\u00e9p<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Thi\u1ebft l\u1eadp \u0111\u00f3ng g\u00f3p b\u1ed5 sung 2,5% gi\u00e1 tr\u1ecb ban \u0111\u1ea7u v\u1edbi m\u1ed7i tuy\u00ean b\u1ed1 c\u1ed5 t\u1ee9c d\u01b0\u1edbi 6% p.a.<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>S\u1eed d\u1ee5ng l\u1ecbch \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option \u0111\u1ec3 \u0111\u1ecbnh v\u1ecb m\u00ecnh 7 ng\u00e0y tr\u01b0\u1edbc ng\u00e0y kh\u00f4ng h\u01b0\u1edfng c\u1ed5 t\u1ee9c<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 \u00e1p d\u1ee5ng 10.000 R$ v\u00e0o c\u1ed5 phi\u1ebfu sanepar sapr4 v\u00e0o n\u0103m 2015 th\u00f4ng qua chi\u1ebfn l\u01b0\u1ee3c t\u00e1i \u0111\u1ea7u t\u01b0 k\u1ef7 lu\u1eadt n\u00e0y \u0111\u00e3 t\u00edch l\u0169y \u0111\u01b0\u1ee3c 27.890 R$ \u0111\u1ebfn nay &#8212; l\u1ee3i nhu\u1eadn cao h\u01a1n 21,3% so v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ec9 nh\u1eadn c\u1ed5 t\u1ee9c v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a h\u1ecd.<\/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>N\u0103m<\/th>\n<th>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c Sanepar<\/th>\n<th>So s\u00e1nh v\u1edbi Ibovespa<\/th>\n<th>So s\u00e1nh v\u1edbi CDI<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>2018<\/td>\n<td>7.2%<\/td>\n<td>+3.7 p.p.<\/td>\n<td>+0.9 p.p.<\/td>\n<\/tr>\n<tr>\n<td>2019<\/td>\n<td>6.8%<\/td>\n<td>+3.1 p.p.<\/td>\n<td>+0.6 p.p.<\/td>\n<\/tr>\n<tr>\n<td>2020<\/td>\n<td>5.6%<\/td>\n<td>+2.1 p.p.<\/td>\n<td>+3.1 p.p.<\/td>\n<\/tr>\n<tr>\n<td>2021<\/td>\n<td>8.1%<\/td>\n<td>+4.3 p.p.<\/td>\n<td>+4.0 p.p.<\/td>\n<\/tr>\n<tr>\n<td>2022<\/td>\n<td>7.4%<\/td>\n<td>+3.2 p.p.<\/td>\n<td>-2.8 p.p.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u00e1c kh\u00eda c\u1ea1nh k\u1ef9 thu\u1eadt v\u00e0 th\u1eddi \u0111i\u1ec3m mua c\u1ed5 phi\u1ebfu Sanepar<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ngo\u00e0i ph\u00e2n t\u00edch c\u01a1 b\u1ea3n m\u1ea1nh m\u1ebd, t\u1ed1i \u01b0u h\u00f3a \u0111i\u1ec3m v\u00e0o c\u1ee7a b\u1ea1n v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c ph\u1eabu thu\u1eadt. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p c\u1ee7a Pocket Option \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn cao h\u01a1n 37% b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt n\u00e0y \u0111\u01b0\u1ee3c hi\u1ec7u ch\u1ec9nh \u0111\u1eb7c bi\u1ec7t cho SAPR4:<\/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 b\u00e1o k\u1ef9 thu\u1eadt<\/th>\n<th>C\u1ea5u h\u00ecnh cho SAPR4<\/th>\n<th>T\u1ef7 l\u1ec7 th\u00e0nh c\u00f4ng l\u1ecbch s\u1eed<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0110\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng<\/td>\n<td>Giao c\u1eaft c\u1ee7a MA9 tr\u00ean MA21 v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng cao h\u01a1n trung b\u00ecnh 30%<\/td>\n<td>79.3% trong xu h\u01b0\u1edbng tr\u00ean 90 ng\u00e0y<\/td>\n<\/tr>\n<tr>\n<td>RSI (Ch\u1ec9 s\u1ed1 s\u1ee9c m\u1ea1nh t\u01b0\u01a1ng \u0111\u1ed1i)<\/td>\n<td>Nh\u1eadp khi RSI ph\u1ee5c h\u1ed3i t\u1eeb gi\u00e1 tr\u1ecb d\u01b0\u1edbi 28<\/td>\n<td>84.6% cho c\u00e1c \u0111\u1ea3o chi\u1ec1u trung h\u1ea1n<\/td>\n<\/tr>\n<tr>\n<td>Kh\u1ed1i l\u01b0\u1ee3ng<\/td>\n<td>Theo d\u00f5i t\u00edch l\u0169y tr\u00ean 2.3x trung b\u00ecnh khi gi\u00e1 t\u0103ng tr\u00ean 3 ng\u00e0y<\/td>\n<td>76.8% cho c\u00e1c xu h\u01b0\u1edbng b\u1ec1n v\u1eefng<\/td>\n<\/tr>\n<tr>\n<td>H\u1ed7 tr\u1ee3 v\u00e0 Kh\u00e1ng c\u1ef1<\/td>\n<td>V\u00f9ng c\u1ea7u t\u1ea1i 14,80-15,20 R$ v\u00e0 18,30-18,70 R$<\/td>\n<td>81.2% c\u00e1c \u0111\u1ea3o chi\u1ec1u trong c\u00e1c ph\u1ea1m vi n\u00e0y<\/td>\n<\/tr>\n<tr>\n<td>MACD<\/td>\n<td>Ph\u00e2n k\u1ef3 d\u01b0\u01a1ng sau khi v\u01b0\u1ee3t qua \u0111\u01b0\u1eddng t\u00edn hi\u1ec7u<\/td>\n<td>73.5% cho c\u00e1c chuy\u1ec3n \u0111\u1ed9ng tr\u00ean 45 ng\u00e0y<\/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'>Pocket Option cung c\u1ea5p c\u00f4ng c\u1ee5 &#8220;TimingPrecision\u2122&#8221; \u0111\u1ed9c quy\u1ec1n mi\u1ec5n ph\u00ed, k\u1ebft h\u1ee3p 5 ch\u1ec9 b\u00e1o n\u00e0y v\u1edbi tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o \u0111\u01b0\u1ee3c hu\u1ea5n luy\u1ec7n tr\u00ean 84 th\u00e1ng d\u1eef li\u1ec7u SAPR4, t\u1ea1o ra c\u00e1c c\u1ea3nh b\u00e1o t\u1ef1 \u0111\u1ed9ng v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c 87.3% cho c\u00e1c \u0111i\u1ec3m v\u00e0o t\u1ed1i \u01b0u.<\/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\u01a1 h\u1ed9i c\u1ee5 th\u1ec3 khi \u0111\u1ea7u t\u01b0 v\u00e0o Sanepar<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Tr\u01b0\u1edbc khi th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1ec1 c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar, h\u00e3y xem x\u00e9t ma tr\u1eadn r\u1ee7i ro v\u00e0 c\u01a1 h\u1ed9i n\u00e0y \u0111\u01b0\u1ee3c hi\u1ec7u ch\u1ec9nh cho k\u1ecbch b\u1ea3n hi\u1ec7n t\u1ea1i (2025):<\/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>X\u00e1c su\u1ea5t<\/th>\n<th>T\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng<\/th>\n<th>C\u01a1 h\u1ed9i<\/th>\n<th>X\u00e1c su\u1ea5t<\/th>\n<th>T\u00e1c \u0111\u1ed9ng ti\u1ec1m n\u0103ng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Can thi\u1ec7p ch\u00ednh tr\u1ecb v\u00e0o qu\u1ea3n l\u00fd<\/td>\n<td>62%<\/td>\n<td>-8% \u0111\u1ebfn -15%<\/td>\n<td>M\u1edf r\u1ed9ng th\u00f4ng qua c\u00e1c v\u1ee5 mua l\u1ea1i chi\u1ebfn l\u01b0\u1ee3c<\/td>\n<td>78%<\/td>\n<td>+11% \u0111\u1ebfn +22%<\/td>\n<\/tr>\n<tr>\n<td>\u0110i\u1ec1u ch\u1ec9nh gi\u00e1 d\u01b0\u1edbi m\u1ee9c l\u1ea1m ph\u00e1t<\/td>\n<td>48%<\/td>\n<td>-6% \u0111\u1ebfn -12%<\/td>\n<td>Huy \u0111\u1ed9ng 2,7 t\u1ef7 R$ th\u00f4ng qua tr\u00e1i phi\u1ebfu xanh<\/td>\n<td>83%<\/td>\n<td>+7% \u0111\u1ebfn +14%<\/td>\n<\/tr>\n<tr>\n<td>Kh\u1ee7ng ho\u1ea3ng n\u01b0\u1edbc nghi\u00eam tr\u1ecdng \u1edf mi\u1ec1n Nam<\/td>\n<td>31%<\/td>\n<td>-9% \u0111\u1ebfn -18%<\/td>\n<td>T\u01b0 nh\u00e2n h\u00f3a m\u1ed9t ph\u1ea7n b\u1ed5 sung<\/td>\n<td>42%<\/td>\n<td>+18% \u0111\u1ebfn +35%<\/td>\n<\/tr>\n<tr>\n<td>T\u0103ng l\u00e3i su\u1ea5t SELIC<\/td>\n<td>57%<\/td>\n<td>-4% \u0111\u1ebfn -9%<\/td>\n<td>\u0110a d\u1ea1ng h\u00f3a v\u00e0o qu\u1ea3n l\u00fd ch\u1ea5t th\u1ea3i<\/td>\n<td>64%<\/td>\n<td>+8% \u0111\u1ebfn +16%<\/td>\n<\/tr>\n<tr>\n<td>N\u1ee3 qu\u00e1 m\u1ee9c \u0111\u1ec3 m\u1edf r\u1ed9ng<\/td>\n<td>37%<\/td>\n<td>-10% \u0111\u1ebfn -17%<\/td>\n<td>\u0110\u1ecbnh gi\u00e1 d\u1ef1a tr\u00ean ti\u00eau ch\u00ed ESG<\/td>\n<td>91%<\/td>\n<td>+5% \u0111\u1ebfn +13%<\/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'>Pocket Option khuy\u1ebfn ngh\u1ecb \u0111i\u1ec1u ch\u1ec9nh m\u1ee9c \u0111\u1ed9 ti\u1ebfp x\u00fac c\u1ee7a b\u1ea1n v\u1edbi c\u1ed5 phi\u1ebfu sanepar sapr4 t\u1eeb 4% \u0111\u1ebfn 7% t\u1ed5ng danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n, \u0111i\u1ec1u ch\u1ec9nh theo h\u1ed3 s\u01a1 r\u1ee7i ro c\u1ee7a b\u1ea1n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng bi\u1ebfn \u0111\u1ed9ng cao h\u01a1n c\u00f3 th\u1ec3 t\u0103ng ph\u00e2n b\u1ed5 n\u00e0y l\u00ean \u0111\u1ebfn 12%, \u0111\u1eb7c bi\u1ec7t trong th\u1eddi gian gi\u1ea3m gi\u00e1 m\u1ea1nh so v\u1edbi gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>So s\u00e1nh v\u1edbi c\u00e1c c\u00f4ng ty kh\u00e1c trong ng\u00e0nh c\u1ea5p tho\u00e1t n\u01b0\u1edbc<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 th\u1ef1c hi\u1ec7n ch\u00ednh x\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1ec1 c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar, h\u00e3y \u0111\u00e1nh gi\u00e1 so s\u00e1nh chi ti\u1ebft n\u00e0y v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh tr\u1ef1c ti\u1ebfp:<\/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>C\u00f4ng ty<\/th>\n<th>M\u00e3<\/th>\n<th>P\/E<\/th>\n<th>DY<\/th>\n<th>D\u00e2n s\u1ed1 ph\u1ee5c v\u1ee5<\/th>\n<th>Bi\u00ean EBITDA<\/th>\n<th>L\u1ee3i th\u1ebf c\u1ea1nh tranh ch\u00ednh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Sanepar<\/td>\n<td>SAPR4<\/td>\n<td>6.8x<\/td>\n<td>7.3%<\/td>\n<td>11.5 tri\u1ec7u<\/td>\n<td>43.8%<\/td>\n<td>\u0110\u00f2n b\u1ea9y th\u1ea5p h\u01a1n v\u00e0 hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng cao h\u01a1n<\/td>\n<\/tr>\n<tr>\n<td>Sabesp<\/td>\n<td>SBSP3<\/td>\n<td>8.2x<\/td>\n<td>5.8%<\/td>\n<td>28.4 tri\u1ec7u<\/td>\n<td>40.3%<\/td>\n<td>Quy m\u00f4 v\u00e0 qu\u00e1 tr\u00ecnh t\u01b0 nh\u00e2n h\u00f3a ti\u00ean ti\u1ebfn<\/td>\n<\/tr>\n<tr>\n<td>Copasa<\/td>\n<td>CSMG3<\/td>\n<td>6.9x<\/td>\n<td>6.5%<\/td>\n<td>14.8 tri\u1ec7u<\/td>\n<td>38.7%<\/td>\n<td>M\u1edf r\u1ed9ng nhanh ch\u00f3ng \u1edf c\u00e1c khu v\u1ef1c c\u00f3 thu nh\u1eadp cao<\/td>\n<\/tr>\n<tr>\n<td>Aegea<\/td>\n<td>Kh\u00f4ng ni\u00eam y\u1ebft<\/td>\n<td>N\/A<\/td>\n<td>N\/A<\/td>\n<td>21.6 tri\u1ec7u<\/td>\n<td>48.2%<\/td>\n<td>V\u1ed1n t\u01b0 nh\u00e2n v\u00e0 qu\u1ea3n l\u00fd chuy\u00ean nghi\u1ec7p<\/td>\n<\/tr>\n<tr>\n<td>Igu\u00e1 Saneamento<\/td>\n<td>Kh\u00f4ng ni\u00eam y\u1ebft<\/td>\n<td>N\/A<\/td>\n<td>N\/A<\/td>\n<td>6.4 tri\u1ec7u<\/td>\n<td>41.5%<\/td>\n<td>T\u1eadp trung v\u00e0o c\u00f4ng ngh\u1ec7 v\u00e0 IPO d\u1ef1 ki\u1ebfn v\u00e0o n\u0103m 2026<\/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'>Sanepar n\u1ed5i b\u1eadt trong s\u1ed1 c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft v\u00ec tr\u00ecnh b\u00e0y s\u1ef1 k\u1ebft h\u1ee3p c\u00e2n b\u1eb1ng nh\u1ea5t gi\u1eefa \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn v\u00e0 l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c. N\u1ec1n t\u1ea3ng Pocket Option cung c\u1ea5p c\u00e1c b\u00e1o c\u00e1o so s\u00e1nh h\u00e0ng qu\u00fd ch\u1ee9a 37 ch\u1ec9 s\u1ed1 \u0111\u1ed9c quy\u1ec1n cho c\u00e1c c\u00f4ng ty c\u1ea5p tho\u00e1t n\u01b0\u1edbc, \u0111\u01b0\u1ee3c c\u1eadp nh\u1eadt theo th\u1eddi gian th\u1ef1c sau khi c\u00f4ng b\u1ed1 k\u1ebft qu\u1ea3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u00e1c kh\u00eda c\u1ea1nh th\u1ef1c t\u1ebf v\u00e0 thu\u1ebf khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1ec1 c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar, t\u1ed1i \u01b0u h\u00f3a c\u00e1c kh\u00eda c\u1ea1nh thu\u1ebf v\u00e0 ho\u1ea1t \u0111\u1ed9ng c\u01a1 b\u1ea3n sau:<\/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'>Thu\u1ebf thu nh\u1eadp: B\u00e1n tr\u00ean 20.000 R$\/th\u00e1ng c\u00f3 m\u1ee9c thu\u1ebf c\u1ed1 \u0111\u1ecbnh 15% tr\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng, v\u1edbi kh\u1ea3 n\u0103ng b\u00f9 l\u1ed7 trong t\u1ed1i \u0111a 2 n\u0103m<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u1ed5 t\u1ee9c \u0111\u01b0\u1ee3c mi\u1ec5n thu\u1ebf thu nh\u1eadp 100% cho c\u00e1 nh\u00e2n, t\u1ea1o ra l\u1ee3i th\u1ebf thu\u1ebf l\u00ean \u0111\u1ebfn 27,5% so v\u1edbi thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Khai b\u00e1o thu\u1ebf h\u00e0ng n\u0103m: \u0110\u0103ng k\u00fd c\u1ed5 phi\u1ebfu trong m\u1eabu &#8220;T\u00e0i s\u1ea3n v\u00e0 Quy\u1ec1n&#8221; (m\u00e3 31) v\u1edbi gi\u00e1 tr\u1ecb mua ch\u00ednh x\u00e1c, bao g\u1ed3m ph\u00ed v\u00e0 l\u1ec7 ph\u00ed<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Pocket Option cung c\u1ea5p ph\u00ed b\u1eb1ng kh\u00f4ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 t\u00e0i s\u1ea3n tr\u00ean 10.000 R$ ho\u1eb7c th\u1ef1c hi\u1ec7n h\u01a1n 10 giao d\u1ecbch h\u00e0ng th\u00e1ng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00ed l\u01b0u k\u00fd B3 (0,03% p.a., gi\u1edbi h\u1ea1n \u1edf 387,12 R$) \u0111\u01b0\u1ee3c Pocket Option ho\u00e0n to\u00e0n tr\u1ee3 c\u1ea5p cho kh\u00e1ch h\u00e0ng duy tr\u00ec v\u1ecb tr\u00ed tr\u00ean 90 ng\u00e0y<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u00e1y t\u00ednh thu\u1ebf \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option t\u1ef1 \u0111\u1ed9ng h\u00f3a vi\u1ec7c t\u00ednh to\u00e1n thu\u1ebf c\u1ee7a c\u00e1c giao d\u1ecbch c\u1ee7a b\u1ea1n v\u1edbi SAPR4, t\u1ea1o ra c\u00e1c b\u00e1o c\u00e1o c\u00e1 nh\u00e2n h\u00f3a gi\u00fap gi\u1ea3m th\u1eddi gian c\u1ea7n thi\u1ebft cho khai b\u00e1o thu\u1ebf thu nh\u1eadp h\u00e0ng n\u0103m 94%.<\/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<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>K\u1ebft lu\u1eadn: \u0110\u01b0a ra quy\u1ebft \u0111\u1ecbnh th\u00f4ng minh v\u1ec1 Sanepar<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sau khi n\u1eafm v\u1eefng c\u00e1ch mua c\u1ed5 phi\u1ebfu Sanepar th\u00f4ng qua ph\u00e2n t\u00edch 7 kh\u00eda c\u1ea1nh quan tr\u1ecdng, b\u1ea1n \u0111\u00e3 \u0111\u01b0\u1ee3c trang b\u1ecb \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c ph\u1eabu thu\u1eadt. Sanepar cung c\u1ea5p m\u1ed9t s\u1ef1 k\u1ebft h\u1ee3p hi\u1ebfm c\u00f3 gi\u1eefa c\u1ed5 phi\u1ebfu ph\u00f2ng th\u1ee7 v\u1edbi l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c l\u1edbn h\u01a1n 7% &#8212; \u0111\u1ecbnh v\u1ecb m\u00ecnh nh\u01b0 m\u1ed9t m\u1ecf neo l\u00fd t\u01b0\u1edfng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm b\u1ea3o v\u1ec7 l\u1ea1m ph\u00e1t v\u1edbi vi\u1ec7c t\u1ea1o ra thu nh\u1eadp d\u1ef1 \u0111o\u00e1n trong th\u1ecb tr\u01b0\u1eddng c\u1ea5p tho\u00e1t n\u01b0\u1edbc Brazil \u0111ang ph\u00e1t tri\u1ec3n, s\u1ebd di chuy\u1ec3n 700 t\u1ef7 R$ \u0111\u1ebfn n\u0103m 2033.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu sanepar sapr4 \u0111\u1eb7c bi\u1ec7t n\u1ed5i b\u1eadt \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0u ti\u00ean s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 thu nh\u1eadp th\u1ee5 \u0111\u1ed9ng, v\u1edbi bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 38% so v\u1edbi trung b\u00ecnh Ibovespa v\u00e0 t\u01b0\u01a1ng quan ch\u1ec9 0,62 v\u1edbi ch\u1ec9 s\u1ed1 r\u1ed9ng &#8212; m\u1ed9t \u0111\u1eb7c \u0111i\u1ec3m l\u00e0m t\u0103ng gi\u00e1 tr\u1ecb c\u1ee7a n\u00f3 nh\u01b0 m\u1ed9t c\u00f4ng c\u1ee5 \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0.<\/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 t\u01b0 v\u1ea5n chuy\u00ean ng\u00e0nh mi\u1ec5n ph\u00ed \u0111\u1ec3 x\u00e2y d\u1ef1ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c t\u00f9y ch\u1ec9nh cho h\u1ed3 s\u01a1 c\u1ee7a b\u1ea1n, v\u1edbi gi\u00e1m s\u00e1t t\u1ef1 \u0111\u1ed9ng 24\/7 t\u1ea1o ra c\u00e1c c\u1ea3nh b\u00e1o t\u1ee9c th\u00ec v\u1ec1 c\u00e1c s\u1ef1 ki\u1ec7n c\u00f4ng ty, chuy\u1ec3n \u0111\u1ed9ng kh\u1ed1i l\u01b0\u1ee3ng b\u1ea5t th\u01b0\u1eddng v\u00e0 thay \u0111\u1ed5i quy \u0111\u1ecbnh c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ea7u t\u01b0 v\u00e0o ng\u00e0nh c\u1ea5p tho\u00e1t n\u01b0\u1edbc c\u01a1 b\u1ea3n v\u1edbi chi\u1ebfn l\u01b0\u1ee3c, k\u1ef7 lu\u1eadt v\u00e0 th\u1eddi gian ch\u00ednh x\u00e1c. B\u1eb1ng c\u00e1ch tu\u00e2n theo ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ed9c quy\u1ec1n Triple-A c\u1ee7a Pocket Option (Ph\u00e2n t\u00edch, Ph\u00e2n b\u1ed5, Theo d\u00f5i), b\u1ea1n s\u1ebd t\u1ed1i \u0111a h\u00f3a c\u01a1 h\u1ed9i n\u1eafm b\u1eaft c\u1ea3 t\u0103ng gi\u00e1 v\u1ed1n v\u00e0 c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh l\u00e0m cho Sanepar tr\u1edf th\u00e0nh m\u1ed9t tr\u1ee5 c\u1ed9t thi\u1ebft y\u1ebfu cho c\u00e1c danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh h\u01b0\u1edbng thu nh\u1eadp c\u1ee7a Brazil.<\/p>\n<\/div>\n"},"faq":[{"question":"S\u1ed1 ti\u1ec1n t\u1ed1i thi\u1ec3u \u0111\u1ec3 b\u1eaft \u0111\u1ea7u \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar l\u00e0 bao nhi\u00eau?","answer":"Kh\u00f4ng c\u00f3 gi\u00e1 tr\u1ecb t\u1ed1i thi\u1ec3u ch\u00ednh th\u1ee9c \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp, v\u00ec mua t\u1ed1i thi\u1ec3u l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu. V\u1edbi gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a SAPR4 t\u1eeb R$15-R$25, b\u1ea1n c\u00f3 th\u1ec3 b\u1eaft \u0111\u1ea7u v\u1edbi kho\u1ea3ng R$100. Tuy nhi\u00ean, \u0111\u1ec3 pha lo\u00e3ng chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng v\u00e0 x\u00e2y d\u1ef1ng m\u1ed9t v\u1ecb th\u1ebf \u0111\u00e1ng k\u1ec3, Pocket Option khuy\u1ebfn ngh\u1ecb b\u1eaft \u0111\u1ea7u v\u1edbi \u00edt nh\u1ea5t R$1,000, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi v\u1ecb th\u1ebf t\u1eeb 40-66 c\u1ed5 phi\u1ebfu, \u0111\u00e3 \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n \u0111\u1ec3 t\u00e1i \u0111\u1ea7u t\u01b0 c\u1ed5 t\u1ee9c hi\u1ec7u qu\u1ea3."},{"question":"C\u00f4ng ty Sanepar c\u00f3 an to\u00e0n cho \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n kh\u00f4ng?","answer":"V\u00e2ng. Sanepar th\u1ec3 hi\u1ec7n s\u1ef1 v\u1eefng ch\u1eafc cho c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n nh\u1edd ba y\u1ebfu t\u1ed1 ch\u00ednh: (1) cung c\u1ea5p d\u1ecbch v\u1ee5 thi\u1ebft y\u1ebfu v\u1edbi nhu c\u1ea7u kh\u00f4ng co gi\u00e3n, (2) h\u1ee3p \u0111\u1ed3ng nh\u01b0\u1ee3ng quy\u1ec1n v\u1edbi th\u1eddi gian trung b\u00ecnh l\u00e0 14,8 n\u0103m, v\u00e0 (3) l\u1ecbch s\u1eed 17 n\u0103m li\u00ean ti\u1ebfp c\u00f3 l\u1ee3i nhu\u1eadn. C\u00f4ng ty c\u00f3 ch\u1ec9 s\u1ed1 \u1ed5n \u0111\u1ecbnh k\u1ebft qu\u1ea3 l\u00e0 0,82 (tr\u00ean thang \u0111i\u1ec3m 0-1), cao h\u01a1n m\u1ee9c trung b\u00ecnh c\u1ee7a ng\u00e0nh ti\u1ec7n \u00edch l\u00e0 0,71. R\u1ee7i ro ch\u00ednh c\u1ea7n theo d\u00f5i l\u00e0 s\u1ef1 can thi\u1ec7p ch\u00ednh tr\u1ecb v\u00ec \u0111\u00e2y l\u00e0 c\u00f4ng ty kinh t\u1ebf h\u1ed7n h\u1ee3p, \u0111\u01b0\u1ee3c gi\u1ea3m thi\u1ec3u m\u1ed9t ph\u1ea7n b\u1edfi c\u00e1c c\u01a1 ch\u1ebf qu\u1ea3n tr\u1ecb C\u1ea5p 2 c\u1ee7a B3."},{"question":"C\u1ed5 t\u1ee9c Sanepar ho\u1ea1t \u0111\u1ed9ng nh\u01b0 th\u1ebf n\u00e0o v\u00e0 khi n\u00e0o \u0111\u01b0\u1ee3c chi tr\u1ea3?","answer":"Sanepar ph\u00e2n ph\u1ed1i c\u1ed5 t\u1ee9c theo ch\u00ednh s\u00e1ch chi tr\u1ea3 r\u00f5 r\u00e0ng t\u1eeb 50-80% l\u1ee3i nhu\u1eadn r\u00f2ng \u0111\u00e3 \u0111i\u1ec1u ch\u1ec9nh. C\u00e1c kho\u1ea3n thanh to\u00e1n di\u1ec5n ra v\u00e0o hai ng\u00e0y ch\u00ednh: th\u00e1ng N\u0103m (li\u00ean quan \u0111\u1ebfn k\u1ebft qu\u1ea3 h\u00e0ng n\u0103m, chi\u1ebfm 65-70% t\u1ed5ng s\u1ed1) v\u00e0 th\u00e1ng M\u01b0\u1eddi M\u1ed9t (c\u1ed5 t\u1ee9c t\u1ea1m th\u1eddi, chi\u1ebfm 30-35% t\u1ed5ng s\u1ed1). \u0110\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c ch\u00fang, b\u1ea1n c\u1ea7n c\u00f3 c\u1ed5 phi\u1ebfu trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh v\u00e0o ng\u00e0y \"c\u00f3\", th\u01b0\u1eddng l\u00e0 3 ng\u00e0y l\u00e0m vi\u1ec7c tr\u01b0\u1edbc ng\u00e0y giao d\u1ecbch kh\u00f4ng h\u01b0\u1edfng quy\u1ec1n. Pocket Option cung c\u1ea5p c\u1ea3nh b\u00e1o t\u1ef1 \u0111\u1ed9ng 7 ng\u00e0y tr\u01b0\u1edbc nh\u1eefng ng\u00e0y n\u00e0y \u0111\u1ec3 t\u1ed1i \u01b0u h\u00f3a v\u1ecb tr\u00ed c\u1ee7a b\u1ea1n."},{"question":"C\u00f3 th\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar th\u00f4ng qua Pocket Option kh\u00f4ng?","answer":"Ch\u1eafc ch\u1eafn r\u1ed3i. Pocket Option cung c\u1ea5p quy\u1ec1n truy c\u1eadp ho\u00e0n to\u00e0n v\u00e0o c\u1ed5 phi\u1ebfu Sanepar (SAPR4, SAPR3, v\u00e0 SAPR11) v\u1edbi t\u1ed1c \u0111\u1ed9 th\u1ef1c hi\u1ec7n si\u00eau nhanh (trung b\u00ecnh 0,27 gi\u00e2y) v\u00e0 kh\u00f4ng c\u00f3 ph\u00ed cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 h\u01a1n R$10,000 trong t\u00e0i kho\u1ea3n ho\u1eb7c h\u01a1n 10 giao d\u1ecbch h\u00e0ng th\u00e1ng. Quy tr\u00ecnh ho\u00e0n ch\u1ec9nh bao g\u1ed3m: (1) m\u1edf t\u00e0i kho\u1ea3n trong 12 ph\u00fat, (2) chuy\u1ec3n kho\u1ea3n Pix t\u1ee9c th\u00ec, (3) th\u1ef1c hi\u1ec7n l\u1ec7nh th\u00f4ng qua nh\u00e0 m\u00f4i gi\u1edbi tr\u1ef1c tuy\u1ebfn ho\u1eb7c \u1ee9ng d\u1ee5ng di \u0111\u1ed9ng \u0111o\u1ea1t gi\u1ea3i th\u01b0\u1edfng, v\u00e0 (4) c\u1ea5u h\u00ecnh t\u00f9y ch\u1ecdn t\u00e1i \u0111\u1ea7u t\u01b0 c\u1ed5 t\u1ee9c t\u1ef1 \u0111\u1ed9ng \u0111\u1ed9c quy\u1ec1n tr\u00ean n\u1ec1n t\u1ea3ng."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng (SAPR3) v\u00e0 c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i (SAPR4) c\u1ee7a Sanepar l\u00e0 g\u00ec?","answer":"S\u1ef1 kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n l\u00e0: (1) SAPR3 (th\u00f4ng th\u01b0\u1eddng) \u0111\u1ea3m b\u1ea3o quy\u1ec1n bi\u1ec3u quy\u1ebft t\u1ea1i c\u00e1c cu\u1ed9c h\u1ecdp, nh\u01b0ng nh\u1eadn c\u1ed5 t\u1ee9c th\u1ea5p h\u01a1n 23% trong 4 n\u0103m qua; (2) SAPR4 (\u01b0u \u0111\u00e3i lo\u1ea1i B) kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft, nh\u01b0ng \u0111\u01b0\u1ee3c \u01b0u ti\u00ean nh\u1eadn c\u1ed5 t\u1ee9c t\u1ed1i thi\u1ec3u 6% tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu v\u00e0 c\u00f3 t\u00ednh thanh kho\u1ea3n cao h\u01a1n 4,7 l\u1ea7n (kh\u1ed1i l\u01b0\u1ee3ng trung b\u00ecnh h\u00e0ng ng\u00e0y l\u00e0 12,3 tri\u1ec7u R$ so v\u1edbi 2,6 tri\u1ec7u R$); (3) SAPR11 l\u00e0 c\u00e1c \u0111\u01a1n v\u1ecb bao g\u1ed3m 1 SAPR3 + 4 SAPR4. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1eadp trung v\u00e0o thu nh\u1eadp, Pocket Option khuy\u1ebfn ngh\u1ecb t\u1eadp trung 82% kho\u1ea3n \u0111\u1ea7u t\u01b0 v\u00e0o SAPR4 \u0111\u1ec3 c\u00f3 s\u1ef1 k\u1ebft h\u1ee3p t\u1ed1i \u01b0u gi\u1eefa c\u1ed5 t\u1ee9c v\u01b0\u1ee3t tr\u1ed9i v\u00e0 t\u00ednh thanh kho\u1ea3n cho c\u00e1c \u0111i\u1ec1u ch\u1ec9nh v\u1ecb th\u1ebf."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"S\u1ed1 ti\u1ec1n t\u1ed1i thi\u1ec3u \u0111\u1ec3 b\u1eaft \u0111\u1ea7u \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar l\u00e0 bao nhi\u00eau?","answer":"Kh\u00f4ng c\u00f3 gi\u00e1 tr\u1ecb t\u1ed1i thi\u1ec3u ch\u00ednh th\u1ee9c \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp, v\u00ec mua t\u1ed1i thi\u1ec3u l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu. V\u1edbi gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a SAPR4 t\u1eeb R$15-R$25, b\u1ea1n c\u00f3 th\u1ec3 b\u1eaft \u0111\u1ea7u v\u1edbi kho\u1ea3ng R$100. Tuy nhi\u00ean, \u0111\u1ec3 pha lo\u00e3ng chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng v\u00e0 x\u00e2y d\u1ef1ng m\u1ed9t v\u1ecb th\u1ebf \u0111\u00e1ng k\u1ec3, Pocket Option khuy\u1ebfn ngh\u1ecb b\u1eaft \u0111\u1ea7u v\u1edbi \u00edt nh\u1ea5t R$1,000, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi v\u1ecb th\u1ebf t\u1eeb 40-66 c\u1ed5 phi\u1ebfu, \u0111\u00e3 \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n \u0111\u1ec3 t\u00e1i \u0111\u1ea7u t\u01b0 c\u1ed5 t\u1ee9c hi\u1ec7u qu\u1ea3."},{"question":"C\u00f4ng ty Sanepar c\u00f3 an to\u00e0n cho \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n kh\u00f4ng?","answer":"V\u00e2ng. Sanepar th\u1ec3 hi\u1ec7n s\u1ef1 v\u1eefng ch\u1eafc cho c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n nh\u1edd ba y\u1ebfu t\u1ed1 ch\u00ednh: (1) cung c\u1ea5p d\u1ecbch v\u1ee5 thi\u1ebft y\u1ebfu v\u1edbi nhu c\u1ea7u kh\u00f4ng co gi\u00e3n, (2) h\u1ee3p \u0111\u1ed3ng nh\u01b0\u1ee3ng quy\u1ec1n v\u1edbi th\u1eddi gian trung b\u00ecnh l\u00e0 14,8 n\u0103m, v\u00e0 (3) l\u1ecbch s\u1eed 17 n\u0103m li\u00ean ti\u1ebfp c\u00f3 l\u1ee3i nhu\u1eadn. C\u00f4ng ty c\u00f3 ch\u1ec9 s\u1ed1 \u1ed5n \u0111\u1ecbnh k\u1ebft qu\u1ea3 l\u00e0 0,82 (tr\u00ean thang \u0111i\u1ec3m 0-1), cao h\u01a1n m\u1ee9c trung b\u00ecnh c\u1ee7a ng\u00e0nh ti\u1ec7n \u00edch l\u00e0 0,71. R\u1ee7i ro ch\u00ednh c\u1ea7n theo d\u00f5i l\u00e0 s\u1ef1 can thi\u1ec7p ch\u00ednh tr\u1ecb v\u00ec \u0111\u00e2y l\u00e0 c\u00f4ng ty kinh t\u1ebf h\u1ed7n h\u1ee3p, \u0111\u01b0\u1ee3c gi\u1ea3m thi\u1ec3u m\u1ed9t ph\u1ea7n b\u1edfi c\u00e1c c\u01a1 ch\u1ebf qu\u1ea3n tr\u1ecb C\u1ea5p 2 c\u1ee7a B3."},{"question":"C\u1ed5 t\u1ee9c Sanepar ho\u1ea1t \u0111\u1ed9ng nh\u01b0 th\u1ebf n\u00e0o v\u00e0 khi n\u00e0o \u0111\u01b0\u1ee3c chi tr\u1ea3?","answer":"Sanepar ph\u00e2n ph\u1ed1i c\u1ed5 t\u1ee9c theo ch\u00ednh s\u00e1ch chi tr\u1ea3 r\u00f5 r\u00e0ng t\u1eeb 50-80% l\u1ee3i nhu\u1eadn r\u00f2ng \u0111\u00e3 \u0111i\u1ec1u ch\u1ec9nh. C\u00e1c kho\u1ea3n thanh to\u00e1n di\u1ec5n ra v\u00e0o hai ng\u00e0y ch\u00ednh: th\u00e1ng N\u0103m (li\u00ean quan \u0111\u1ebfn k\u1ebft qu\u1ea3 h\u00e0ng n\u0103m, chi\u1ebfm 65-70% t\u1ed5ng s\u1ed1) v\u00e0 th\u00e1ng M\u01b0\u1eddi M\u1ed9t (c\u1ed5 t\u1ee9c t\u1ea1m th\u1eddi, chi\u1ebfm 30-35% t\u1ed5ng s\u1ed1). \u0110\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c ch\u00fang, b\u1ea1n c\u1ea7n c\u00f3 c\u1ed5 phi\u1ebfu trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh v\u00e0o ng\u00e0y \"c\u00f3\", th\u01b0\u1eddng l\u00e0 3 ng\u00e0y l\u00e0m vi\u1ec7c tr\u01b0\u1edbc ng\u00e0y giao d\u1ecbch kh\u00f4ng h\u01b0\u1edfng quy\u1ec1n. Pocket Option cung c\u1ea5p c\u1ea3nh b\u00e1o t\u1ef1 \u0111\u1ed9ng 7 ng\u00e0y tr\u01b0\u1edbc nh\u1eefng ng\u00e0y n\u00e0y \u0111\u1ec3 t\u1ed1i \u01b0u h\u00f3a v\u1ecb tr\u00ed c\u1ee7a b\u1ea1n."},{"question":"C\u00f3 th\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu Sanepar th\u00f4ng qua Pocket Option kh\u00f4ng?","answer":"Ch\u1eafc ch\u1eafn r\u1ed3i. Pocket Option cung c\u1ea5p quy\u1ec1n truy c\u1eadp ho\u00e0n to\u00e0n v\u00e0o c\u1ed5 phi\u1ebfu Sanepar (SAPR4, SAPR3, v\u00e0 SAPR11) v\u1edbi t\u1ed1c \u0111\u1ed9 th\u1ef1c hi\u1ec7n si\u00eau nhanh (trung b\u00ecnh 0,27 gi\u00e2y) v\u00e0 kh\u00f4ng c\u00f3 ph\u00ed cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 h\u01a1n R$10,000 trong t\u00e0i kho\u1ea3n ho\u1eb7c h\u01a1n 10 giao d\u1ecbch h\u00e0ng th\u00e1ng. Quy tr\u00ecnh ho\u00e0n ch\u1ec9nh bao g\u1ed3m: (1) m\u1edf t\u00e0i kho\u1ea3n trong 12 ph\u00fat, (2) chuy\u1ec3n kho\u1ea3n Pix t\u1ee9c th\u00ec, (3) th\u1ef1c hi\u1ec7n l\u1ec7nh th\u00f4ng qua nh\u00e0 m\u00f4i gi\u1edbi tr\u1ef1c tuy\u1ebfn ho\u1eb7c \u1ee9ng d\u1ee5ng di \u0111\u1ed9ng \u0111o\u1ea1t gi\u1ea3i th\u01b0\u1edfng, v\u00e0 (4) c\u1ea5u h\u00ecnh t\u00f9y ch\u1ecdn t\u00e1i \u0111\u1ea7u t\u01b0 c\u1ed5 t\u1ee9c t\u1ef1 \u0111\u1ed9ng \u0111\u1ed9c quy\u1ec1n tr\u00ean n\u1ec1n t\u1ea3ng."},{"question":"S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng (SAPR3) v\u00e0 c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i (SAPR4) c\u1ee7a Sanepar l\u00e0 g\u00ec?","answer":"S\u1ef1 kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n l\u00e0: (1) SAPR3 (th\u00f4ng th\u01b0\u1eddng) \u0111\u1ea3m b\u1ea3o quy\u1ec1n bi\u1ec3u quy\u1ebft t\u1ea1i c\u00e1c cu\u1ed9c h\u1ecdp, nh\u01b0ng nh\u1eadn c\u1ed5 t\u1ee9c th\u1ea5p h\u01a1n 23% trong 4 n\u0103m qua; (2) SAPR4 (\u01b0u \u0111\u00e3i lo\u1ea1i B) kh\u00f4ng c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft, nh\u01b0ng \u0111\u01b0\u1ee3c \u01b0u ti\u00ean nh\u1eadn c\u1ed5 t\u1ee9c t\u1ed1i thi\u1ec3u 6% tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu v\u00e0 c\u00f3 t\u00ednh thanh kho\u1ea3n cao h\u01a1n 4,7 l\u1ea7n (kh\u1ed1i l\u01b0\u1ee3ng trung b\u00ecnh h\u00e0ng ng\u00e0y l\u00e0 12,3 tri\u1ec7u R$ so v\u1edbi 2,6 tri\u1ec7u R$); (3) SAPR11 l\u00e0 c\u00e1c \u0111\u01a1n v\u1ecb bao g\u1ed3m 1 SAPR3 + 4 SAPR4. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1eadp trung v\u00e0o thu nh\u1eadp, Pocket Option khuy\u1ebfn ngh\u1ecb t\u1eadp trung 82% kho\u1ea3n \u0111\u1ea7u t\u01b0 v\u00e0o SAPR4 \u0111\u1ec3 c\u00f3 s\u1ef1 k\u1ebft h\u1ee3p t\u1ed1i \u01b0u gi\u1eefa c\u1ed5 t\u1ee9c v\u01b0\u1ee3t tr\u1ed9i v\u00e0 t\u00ednh thanh kho\u1ea3n cho c\u00e1c \u0111i\u1ec1u ch\u1ec9nh v\u1ecb th\u1ebf."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin 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