{"id":319625,"date":"2025-07-22T15:19:31","date_gmt":"2025-07-22T15:19:31","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/kos-stocks-2\/"},"modified":"2025-07-22T15:19:31","modified_gmt":"2025-07-22T15:19:31","slug":"kos-stocks","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/markets\/kos-stocks\/","title":{"rendered":"C\u1ed5 phi\u1ebfu KOS: Ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u00e0 5 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ti\u1ec1m n\u0103ng v\u00e0o n\u0103m 2025"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":178255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[46,28,45,44],"class_list":["post-319625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-how","tag-investment","tag-stock","tag-strategy"],"acf":{"h1":"Pocket Option: Ph\u00e2n t\u00edch chuy\u00ean s\u00e2u c\u1ed5 phi\u1ebfu KOS v\u00e0 3 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3","h1_source":{"label":"H1","type":"text","formatted_value":"Pocket Option: Ph\u00e2n t\u00edch chuy\u00ean s\u00e2u c\u1ed5 phi\u1ebfu KOS v\u00e0 3 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3"},"description":"Kh\u00e1m ph\u00e1 ngay chi ti\u1ebft v\u1ec1 c\u1ed5 phi\u1ebfu KOS, ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt m\u1edbi nh\u1ea5t, tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng cho Q2\/2025 v\u00e0 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3, \u0111\u1ed9c quy\u1ec1n t\u1eeb Pocket Option.","description_source":{"label":"Description","type":"textarea","formatted_value":"Kh\u00e1m ph\u00e1 ngay chi ti\u1ebft v\u1ec1 c\u1ed5 phi\u1ebfu KOS, ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt m\u1edbi nh\u1ea5t, tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng cho Q2\/2025 v\u00e0 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3, \u0111\u1ed9c quy\u1ec1n t\u1eeb Pocket Option."},"intro":"Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang tr\u1ea3i qua nh\u1eefng bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh v\u1edbi VN-Index t\u0103ng 8,2% k\u1ec3 t\u1eeb \u0111\u1ea7u n\u0103m 2025, v\u00e0 trong b\u1ed1i c\u1ea3nh n\u00e0y, c\u1ed5 phi\u1ebfu KOS \u0111\u00e3 n\u1ed5i l\u00ean nh\u01b0 m\u1ed9t l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 \u0111\u00e1ng ch\u00fa \u00fd v\u1edbi m\u1ee9c t\u0103ng 22,5% trong Q1\/2025. B\u00e0i vi\u1ebft n\u00e0y s\u1ebd cung c\u1ea5p m\u1ed9t ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u1ec1 c\u1ed5 phi\u1ebfu KOS, t\u1eeb d\u1eef li\u1ec7u t\u00e0i ch\u00ednh \u0111\u1ebfn c\u00e1c m\u00f4 h\u00ecnh k\u1ef9 thu\u1eadt, gi\u00fap b\u1ea1n n\u1eafm b\u1eaft nh\u1eefng c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 hi\u1ebfm c\u00f3 trong m\u00f4i tr\u01b0\u1eddng th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i c\u1ee7a Vi\u1ec7t Nam.","intro_source":{"label":"Intro","type":"text","formatted_value":"Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111ang tr\u1ea3i qua nh\u1eefng bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh v\u1edbi VN-Index t\u0103ng 8,2% k\u1ec3 t\u1eeb \u0111\u1ea7u n\u0103m 2025, v\u00e0 trong b\u1ed1i c\u1ea3nh n\u00e0y, c\u1ed5 phi\u1ebfu KOS \u0111\u00e3 n\u1ed5i l\u00ean nh\u01b0 m\u1ed9t l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 \u0111\u00e1ng ch\u00fa \u00fd v\u1edbi m\u1ee9c t\u0103ng 22,5% trong Q1\/2025. B\u00e0i vi\u1ebft n\u00e0y s\u1ebd cung c\u1ea5p m\u1ed9t ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u1ec1 c\u1ed5 phi\u1ebfu KOS, t\u1eeb d\u1eef li\u1ec7u t\u00e0i ch\u00ednh \u0111\u1ebfn c\u00e1c m\u00f4 h\u00ecnh k\u1ef9 thu\u1eadt, gi\u00fap b\u1ea1n n\u1eafm b\u1eaft nh\u1eefng c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 hi\u1ebfm c\u00f3 trong m\u00f4i tr\u01b0\u1eddng th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i c\u1ee7a Vi\u1ec7t Nam."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>T\u1ed5ng quan v\u1ec1 c\u1ed5 phi\u1ebfu KOS v\u00e0 v\u1ecb th\u1ebf c\u1ee7a n\u00f3 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'><b>C\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;l\u00e0 m\u00e3 giao d\u1ecbch c\u1ee7a C\u00f4ng ty C\u1ed5 ph\u1ea7n Kosy, m\u1ed9t doanh nghi\u1ec7p \u0111\u01b0\u1ee3c th\u00e0nh l\u1eadp n\u0103m 2008 v\u1edbi v\u1ed1n \u0111i\u1ec1u l\u1ec7 ban \u0111\u1ea7u l\u00e0 86 t\u1ef7 VND, hi\u1ec7n \u0111\u00e3 t\u0103ng l\u00ean 2.345 t\u1ef7 VND (t\u00ednh \u0111\u1ebfn qu\u00fd 1\/2025). Kosy ho\u1ea1t \u0111\u1ed9ng ch\u1ee7 y\u1ebfu trong hai l\u0129nh v\u1ef1c: b\u1ea5t \u0111\u1ed9ng s\u1ea3n cao c\u1ea5p v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, v\u1edbi 75% doanh thu t\u1eeb b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 25% t\u1eeb n\u0103ng l\u01b0\u1ee3ng xanh v\u00e0o n\u0103m 2024.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>T\u1eeb qu\u00fd 3\/2024 \u0111\u1ebfn nay,&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;\u0111\u00e3 ghi nh\u1eadn m\u1ee9c t\u0103ng 245% v\u1ec1 kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch, t\u1eeb trung b\u00ecnh 1,2 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean l\u00ean 4,15 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean. \u0110i\u1ec1u n\u00e0y ph\u1ea3n \u00e1nh s\u1ef1 quan t\u00e2m ng\u00e0y c\u00e0ng t\u0103ng c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ed1i v\u1edbi chi\u1ebfn l\u01b0\u1ee3c m\u1edf r\u1ed9ng c\u1ee7a Kosy v\u00e0o n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o - m\u1ed9t xu h\u01b0\u1edbng \u0111ang \u0111\u01b0\u1ee3c ch\u00ednh ph\u1ee7 Vi\u1ec7t Nam \u01b0u ti\u00ean v\u1edbi ch\u00ednh s\u00e1ch thu\u1ebf \u01b0u \u0111\u00e3i 10% trong 15 n\u0103m \u0111\u1ea7u ho\u1ea1t \u0111\u1ed9ng.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo d\u1eef li\u1ec7u \u0111\u1ed9c quy\u1ec1n t\u1eeb&nbsp;<b>Pocket Option<\/b>, v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a KOS \u0111\u00e3 t\u0103ng t\u1eeb 1.850 t\u1ef7 VND (th\u00e1ng 4\/2024) l\u00ean 2.950 t\u1ef7 VND (th\u00e1ng 4\/2025), t\u01b0\u01a1ng \u0111\u01b0\u01a1ng m\u1ee9c t\u0103ng 59,5% trong 12 th\u00e1ng. \u0110\u00e1ng ch\u00fa \u00fd, t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i \u0111\u00e3 t\u0103ng t\u1eeb 4,8% l\u00ean 7,2% trong c\u00f9ng k\u1ef3, m\u1eb7c d\u00f9 xu h\u01b0\u1edbng chung l\u00e0 r\u00fat v\u1ed1n kh\u1ecfi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n 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>Gi\u00e1 tr\u1ecb<\/th><th>So v\u1edbi ng\u00e0nh<\/th><th>Xu h\u01b0\u1edbng 12 th\u00e1ng<\/th><\/tr><\/thead><tbody><tr><td>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng<\/td><td>2.950 t\u1ef7 VND<\/td><td>Trung b\u00ecnh (Ng\u00e0nh B\u1ea5t \u0111\u1ed9ng s\u1ea3n: 3.150 t\u1ef7)<\/td><td>\u2191 59,5%<\/td><\/tr><tr><td>P\/E<\/td><td>15,2<\/td><td>Th\u1ea5p h\u01a1n trung b\u00ecnh ng\u00e0nh (17,8)<\/td><td>\u2193 T\u1eeb 16,5<\/td><\/tr><tr><td>ROE<\/td><td>12,8%<\/td><td>Cao h\u01a1n trung b\u00ecnh ng\u00e0nh (9,6%)<\/td><td>\u2191 T\u1eeb 10,5%<\/td><\/tr><tr><td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/td><td>4,5%<\/td><td>Cao h\u01a1n trung b\u00ecnh ng\u00e0nh (3,2%)<\/td><td>\u2192 Kh\u00f4ng \u0111\u1ed5i<\/td><\/tr><tr><td>Beta<\/td><td>1,25<\/td><td>Bi\u1ebfn \u0111\u1ed9ng cao h\u01a1n th\u1ecb tr\u01b0\u1eddng<\/td><td>\u2191 T\u1eeb 1,08<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u1ec1 c\u1ed5 phi\u1ebfu KOS - Ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch s\u00e2u v\u1ec1&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;t\u1eeb c\u00e1c chuy\u00ean gia c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;ch\u1ec9 ra ba y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n ch\u00ednh. Th\u1ee9 nh\u1ea5t, Kosy \u0111ang th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c \"hai tr\u1ee5 c\u1ed9t\" v\u1edbi t\u1ef7 l\u1ec7 \u0111\u1ea7u t\u01b0 70:30 gi\u1eefa b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o - m\u1ed9t m\u00f4 h\u00ecnh kh\u00f4ng ph\u1ed5 bi\u1ebfn \u1edf Vi\u1ec7t Nam nh\u01b0ng \u0111\u00e3 ch\u1ee9ng minh hi\u1ec7u qu\u1ea3 \u1edf th\u1ecb tr\u01b0\u1eddng Th\u00e1i Lan v\u00e0 Malaysia trong vi\u1ec7c c\u00e2n b\u1eb1ng d\u00f2ng ti\u1ec1n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Th\u1ee9 hai, Kosy s\u1edf h\u1eefu qu\u1ef9 \u0111\u1ea5t 685 ha t\u1ea1i 6 t\u1ec9nh, v\u1edbi 78% \u0111\u00e3 ho\u00e0n th\u00e0nh th\u1ee7 t\u1ee5c ph\u00e1p l\u00fd, v\u1edbi chi ph\u00ed trung b\u00ecnh 2,3 tri\u1ec7u VND\/m\u00b2, th\u1ea5p h\u01a1n 35% so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i. Th\u1ee9 ba, m\u1ea3ng n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o \u0111ang \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb c\u00e1c \u01b0u \u0111\u00e3i theo Quy\u1ebft \u0111\u1ecbnh 13\/2020\/Q\u0110-TTg v\u1edbi gi\u00e1 FIT (gi\u00e1 mua \u0111i\u1ec7n) \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o trong 20 n\u0103m.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>K\u1ebft qu\u1ea3 kinh doanh v\u00e0 t\u00e0i ch\u00ednh<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>B\u00e1o c\u00e1o t\u00e0i ch\u00ednh qu\u00fd 1\/2025 c\u1ee7a Kosy ghi nh\u1eadn doanh thu 1.250 t\u1ef7 VND, t\u0103ng 18,7% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024. \u0110\u00e1ng ch\u00fa \u00fd, bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p c\u1ea3i thi\u1ec7n t\u1eeb 20,4% l\u00ean 25,2%, cao h\u01a1n trung b\u00ecnh ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n (18,7%) v\u00e0 n\u0103ng l\u01b0\u1ee3ng (22,1%) t\u1ea1i Vi\u1ec7t Nam. Theo CFO c\u1ee7a Kosy, s\u1ef1 c\u1ea3i thi\u1ec7n n\u00e0y \u0111\u1ebfn t\u1eeb vi\u1ec7c ghi nh\u1eadn doanh thu t\u1eeb D\u1ef1 \u00e1n Th\u1ee7y \u0111i\u1ec7n N\u1eadm P\u1ea1c (c\u00f4ng su\u1ea5t 34MW) b\u1eaft \u0111\u1ea7u ho\u1ea1t \u0111\u1ed9ng t\u1eeb th\u00e1ng 12\/2024.<\/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>2023<\/th><th>2024<\/th><th>2025 (Q1)<\/th><th>T\u0103ng tr\u01b0\u1edfng YoY<\/th><\/tr><\/thead><tbody><tr><td>Doanh thu<\/td><td>2.850 t\u1ef7 VND<\/td><td>3.380 t\u1ef7 VND<\/td><td>1.250 t\u1ef7 VND<\/td><td>+18,7%<\/td><\/tr><tr><td>L\u1ee3i nhu\u1eadn g\u1ed9p<\/td><td>580 t\u1ef7 VND<\/td><td>690 t\u1ef7 VND<\/td><td>315 t\u1ef7 VND<\/td><td>+22,1%<\/td><\/tr><tr><td>L\u1ee3i nhu\u1eadn r\u00f2ng<\/td><td>290 t\u1ef7 VND<\/td><td>335 t\u1ef7 VND<\/td><td>142 t\u1ef7 VND<\/td><td>+15,3%<\/td><\/tr><tr><td>EPS<\/td><td>2.450 VND<\/td><td>2.820 VND<\/td><td>1.180 VND<\/td><td>+14,8%<\/td><\/tr><tr><td>T\u1ef7 l\u1ec7 N\u1ee3\/V\u1ed1n ch\u1ee7 s\u1edf h\u1eefu<\/td><td>65%<\/td><td>48%<\/td><td>45%<\/td><td>Gi\u1ea3m 20 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u1ec1 c\u1ea5u tr\u00fac t\u00e0i ch\u00ednh, Kosy \u0111\u00e3 gi\u1ea3m \u0111\u00e1ng k\u1ec3 t\u1ef7 l\u1ec7 n\u1ee3 t\u1eeb 65% (2022) xu\u1ed1ng 45% (Q1\/2025), th\u1ea5p h\u01a1n trung b\u00ecnh ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n (57%). Chi ph\u00ed v\u1ed1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WACC) c\u1ee7a c\u00f4ng ty \u0111\u00e3 gi\u1ea3m t\u1eeb 12,3% xu\u1ed1ng 10,1%, gi\u00fap t\u0103ng l\u1ee3i nhu\u1eadn v\u00e0 gi\u1ea3m \u00e1p l\u1ef1c d\u00f2ng ti\u1ec1n trong b\u1ed1i c\u1ea3nh bi\u1ebfn \u0111\u1ed9ng l\u00e3i su\u1ea5t.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Danh m\u1ee5c d\u1ef1 \u00e1n v\u00e0 tri\u1ec3n v\u1ecdng<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Hi\u1ec7n t\u1ea1i, Kosy \u0111ang tri\u1ec3n khai 8 d\u1ef1 \u00e1n l\u1edbn, bao g\u1ed3m 3 d\u1ef1 \u00e1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n trong giai \u0111o\u1ea1n b\u00e1n h\u00e0ng v\u00e0 5 d\u1ef1 \u00e1n n\u0103ng l\u01b0\u1ee3ng \u1edf c\u00e1c giai \u0111o\u1ea1n kh\u00e1c nhau. T\u1ef7 su\u1ea5t ho\u00e0n v\u1ed1n n\u1ed9i b\u1ed9 (IRR) d\u1ef1 ki\u1ebfn c\u1ee7a c\u00e1c d\u1ef1 \u00e1n n\u00e0y dao \u0111\u1ed9ng t\u1eeb 18% \u0111\u1ebfn 25%, cao h\u01a1n trung b\u00ecnh ng\u00e0nh l\u00e0 16,5%.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>D\u1ef1 \u00e1n<\/th><th>\u0110\u1ecba \u0111i\u1ec3m<\/th><th>T\u1ed5ng \u0111\u1ea7u t\u01b0<\/th><th>Ti\u1ebfn \u0111\u1ed9<\/th><th>IRR d\u1ef1 ki\u1ebfn<\/th><\/tr><\/thead><tbody><tr><td>Kosy City<\/td><td>Th\u00e1i Nguy\u00ean<\/td><td>1.800 t\u1ef7 VND<\/td><td>80% (b\u00e0n giao Q3\/2025)<\/td><td>21%<\/td><\/tr><tr><td>Kosy Riverside<\/td><td>L\u00e0o Cai<\/td><td>1.200 t\u1ef7 VND<\/td><td>65% (b\u00e0n giao Q4\/2025)<\/td><td>19%<\/td><\/tr><tr><td>Kosy Mountain View<\/td><td>H\u00f2a B\u00ecnh<\/td><td>950 t\u1ef7 VND<\/td><td>45% (b\u00e0n giao Q2\/2026)<\/td><td>18%<\/td><\/tr><tr><td>Nh\u00e0 m\u00e1y \u0111i\u1ec7n gi\u00f3 Kosy B\u1ea1c Li\u00eau<\/td><td>B\u1ea1c Li\u00eau<\/td><td>3.500 t\u1ef7 VND<\/td><td>90% (ho\u1ea1t \u0111\u1ed9ng Q2\/2025)<\/td><td>25%<\/td><\/tr><tr><td>D\u1ef1 \u00e1n th\u1ee7y \u0111i\u1ec7n N\u1eadm P\u1ea1c<\/td><td>\u0110i\u1ec7n Bi\u00ean<\/td><td>780 t\u1ef7 VND<\/td><td>100% (ho\u1ea1t \u0111\u1ed9ng t\u1eeb 12\/2024)<\/td><td>22%<\/td><\/tr><tr><td>D\u1ef1 \u00e1n \u0111i\u1ec7n m\u1eb7t tr\u1eddi Kosy Ninh Thu\u1eadn<\/td><td>Ninh Thu\u1eadn<\/td><td>1.450 t\u1ef7 VND<\/td><td>30% (d\u1ef1 ki\u1ebfn Q1\/2026)<\/td><td>20%<\/td><\/tr><tr><td>D\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 Kosy S\u00f3c Tr\u0103ng<\/td><td>S\u00f3c Tr\u0103ng<\/td><td>2.800 t\u1ef7 VND<\/td><td>15% (d\u1ef1 ki\u1ebfn Q3\/2026)<\/td><td>23%<\/td><\/tr><tr><td>Khu \u0111\u00f4 th\u1ecb Kosy B\u1eafc Giang<\/td><td>B\u1eafc Giang<\/td><td>1.350 t\u1ef7 VND<\/td><td>20% (d\u1ef1 ki\u1ebfn Q4\/2026)<\/td><td>20%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ea5y m\u1ea3ng n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o s\u1ebd \u0111\u00f3ng g\u00f3p 42% l\u1ee3i nhu\u1eadn c\u1ee7a Kosy v\u00e0o n\u0103m 2026, t\u0103ng t\u1eeb m\u1ee9c 25% hi\u1ec7n t\u1ea1i. \u0110\u00e2y l\u00e0 y\u1ebfu t\u1ed1 kh\u00e1c bi\u1ec7t cho&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7, khi h\u1ea7u h\u1ebft c\u00e1c c\u00f4ng ty b\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam ch\u1ec9 t\u1eadp trung v\u00e0o m\u1ed9t l\u0129nh v\u1ef1c. Chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a n\u00e0y gi\u00fap Kosy gi\u1ea3m r\u1ee7i ro chu k\u1ef3 trong ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 t\u1eadn d\u1ee5ng c\u00e1c ch\u00ednh s\u00e1ch \u01b0u \u0111\u00e3i t\u1eeb Ngh\u1ecb quy\u1ebft 55-NQ\/TW v\u1ec1 ph\u00e1t tri\u1ec3n n\u0103ng l\u01b0\u1ee3ng qu\u1ed1c gia.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt v\u00e0 xu h\u01b0\u1edbng gi\u00e1 c\u1ed5 phi\u1ebfu KOS<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u00ecn v\u00e0o bi\u1ec3u \u0111\u1ed3 k\u1ef9 thu\u1eadt,&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;\u0111\u00e3 h\u00ecnh th\u00e0nh m\u00f4 h\u00ecnh \"Cup and Handle\" trong 6 th\u00e1ng qua - m\u1ed9t m\u00f4 h\u00ecnh k\u1ef9 thu\u1eadt c\u00f3 t\u1ef7 l\u1ec7 th\u00e0nh c\u00f4ng 82,5% theo th\u1ed1ng k\u00ea c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam. V\u00f9ng t\u00edch l\u0169y t\u1eeb th\u00e1ng 10\/2024 \u0111\u1ebfn th\u00e1ng 3\/2025 \u0111\u00e3 b\u1ecb ph\u00e1 v\u1ee1 v\u00e0o ng\u00e0y 5\/4\/2025, v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch b\u1ea5t th\u01b0\u1eddng 8,3 tri\u1ec7u c\u1ed5 phi\u1ebfu, g\u1ea5p 2,7 l\u1ea7n trung b\u00ecnh 20 phi\u00ean.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt ch\u00ednh cho KOS hi\u1ec7n t\u1ea1i nh\u01b0 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'>\u0110\u01b0\u1eddng MA20 (19.350 VND) c\u1eaft l\u00ean tr\u00ean MA50 (18.720 VND) v\u00e0o ng\u00e0y 28\/3\/2025, h\u00ecnh th\u00e0nh \"Golden Cross\" - t\u00edn hi\u1ec7u mua m\u1ea1nh<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>RSI hi\u1ec7n t\u1ea1i \u1edf m\u1ee9c 62,4 - ch\u01b0a v\u00e0o v\u00f9ng qu\u00e1 mua (&gt;70), v\u1eabn c\u00f2n d\u01b0 \u0111\u1ecba t\u0103ng gi\u00e1<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>MACD = +0,58, tr\u00ean \u0111\u01b0\u1eddng Signal (+0,22) v\u00e0 c\u1eaft l\u00ean tr\u00ean \u0111\u01b0\u1eddng 0 t\u1eeb ng\u00e0y 25\/3\/2025<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>D\u1ea3i Bollinger \u0111ang m\u1edf r\u1ed9ng v\u1edbi gi\u00e1 ph\u00e1 v\u1ee1 d\u1ea3i tr\u00ean, x\u00e1c nh\u1eadn xu h\u01b0\u1edbng t\u0103ng m\u1ea1nh<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh trong 10 ng\u00e0y qua \u0111\u1ea1t 4,15 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean, t\u0103ng 35% so v\u1edbi 3,07 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean trong 30 ng\u00e0y tr\u01b0\u1edbc \u0111\u00f3<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo m\u00f4 h\u00ecnh ph\u00e2n t\u00edch Fibonacci Retracement c\u1ee7a&nbsp;<b>Pocket Option<\/b>, KOS \u0111\u00e3 ph\u00e1 v\u1ee1 m\u1ee9c 61,8% t\u1ea1i 19.850 VND v\u00e0 \u0111ang h\u01b0\u1edbng t\u1edbi m\u1ee9c kh\u00e1ng c\u1ef1 20.500 VND (m\u1ee9c 78,6%). C\u00e1c m\u1ee9c h\u1ed7 tr\u1ee3 v\u00e0 kh\u00e1ng c\u1ef1 quan tr\u1ecdng hi\u1ec7n t\u1ea1i l\u00e0:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Lo\u1ea1i<\/th><th>M\u1ee9c gi\u00e1 (VND)<\/th><th>\u00dd ngh\u0129a k\u1ef9 thu\u1eadt<\/th><\/tr><\/thead><tbody><tr><td>Kh\u00e1ng c\u1ef1 m\u1ea1nh R2<\/td><td>23.800<\/td><td>\u0110\u1ec9nh l\u1ecbch s\u1eed th\u00e1ng 6\/2023<\/td><\/tr><tr><td>Kh\u00e1ng c\u1ef1 R1<\/td><td>20.500<\/td><td>Fibonacci 78,6% + \u0111\u1ec9nh th\u00e1ng 1\/2025<\/td><\/tr><tr><td>Gi\u00e1 hi\u1ec7n t\u1ea1i<\/td><td>19.450<\/td><td>Tr\u00ean MA20 v\u00e0 MA50<\/td><\/tr><tr><td>H\u1ed7 tr\u1ee3 S1<\/td><td>18.700<\/td><td>MA50 + Fibonacci 50%<\/td><\/tr><tr><td>H\u1ed7 tr\u1ee3 m\u1ea1nh S2<\/td><td>17.200<\/td><td>\u0110\u00e1y c\u1ee7a \"handle\" + Fibonacci 38,2%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u00c1p d\u1ee5ng m\u00f4 h\u00ecnh \u0111\u1ecbnh l\u01b0\u1ee3ng c\u1ee7a&nbsp;<b>Pocket Option<\/b> d\u1ef1a tr\u00ean 62 c\u1ed5 phi\u1ebfu c\u00f3 m\u00f4 h\u00ecnh t\u01b0\u01a1ng t\u1ef1 tr\u00ean HOSE trong giai \u0111o\u1ea1n 2020-2024, x\u00e1c su\u1ea5t KOS t\u0103ng th\u00eam 15-20% t\u1eeb m\u1ee9c hi\u1ec7n t\u1ea1i trong 3 th\u00e1ng t\u1edbi l\u00e0 72,4%, v\u1edbi \u0111i\u1ec1u ki\u1ec7n VN-Index kh\u00f4ng \u0111i\u1ec1u ch\u1ec9nh qu\u00e1 8% t\u1eeb m\u1ee9c hi\u1ec7n t\u1ea1i. C\u00e1c \u0111i\u1ec3m xoay s\u00f3ng Elliott cho th\u1ea5y KOS \u0111ang \u1edf s\u00f3ng 3 c\u1ee7a chu k\u1ef3 5 s\u00f3ng t\u0103ng, th\u01b0\u1eddng l\u00e0 s\u00f3ng m\u1ea1nh nh\u1ea5t v\u00e0 d\u00e0i nh\u1ea5t.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u00e1c y\u1ebfu t\u1ed1 v\u0129 m\u00f4 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u1ed5 phi\u1ebfu KOS<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n tri\u1ec3n v\u1ecdng c\u1ee7a&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>, c\u1ea7n xem x\u00e9t 5 y\u1ebfu t\u1ed1 v\u0129 m\u00f4 ch\u00ednh hi\u1ec7n \u0111ang t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam n\u00f3i chung v\u00e0 Kosy n\u00f3i ri\u00eang.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 c\u00e1c ch\u00ednh s\u00e1ch m\u1edbi n\u0103m 2025<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam \u0111ang b\u01b0\u1edbc v\u00e0o chu k\u1ef3 ph\u1ee5c h\u1ed3i v\u1edbi 4 \u0111\u1ed9ng l\u1ef1c ch\u00ednh: Lu\u1eadt \u0110\u1ea5t \u0111ai 2024 c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 1\/1\/2025, l\u00e3i su\u1ea5t cho vay mua nh\u00e0 gi\u1ea3m xu\u1ed1ng trung b\u00ecnh 8,2% (gi\u1ea3m 2,5 \u0111i\u1ec3m ph\u1ea7n tr\u0103m so v\u1edbi \u0111\u1ea7u n\u0103m 2024), g\u00f3i t\u00edn d\u1ee5ng 120.000 t\u1ef7 VND (t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 4,8 t\u1ef7 USD) v\u1edbi 42% \u0111\u00e3 gi\u1ea3i ng\u00e2n t\u00ednh \u0111\u1ebfn th\u00e1ng 3\/2025, v\u00e0 d\u1ef1 th\u1ea3o Lu\u1eadt Kinh doanh B\u1ea5t \u0111\u1ed9ng s\u1ea3n s\u1eeda \u0111\u1ed5i d\u1ef1 ki\u1ebfn \u0111\u01b0\u1ee3c th\u00f4ng qua v\u00e0o qu\u00fd 2\/2025.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u00ednh s\u00e1ch<\/th><th>Th\u1eddi gian<\/th><th>T\u00e1c \u0111\u1ed9ng c\u1ee5 th\u1ec3 \u0111\u1ebfn Kosy<\/th><\/tr><\/thead><tbody><tr><td>Lu\u1eadt \u0110\u1ea5t \u0111ai 2024<\/td><td>C\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb 1\/1\/2025<\/td><td>R\u00fat ng\u1eafn th\u1eddi gian ph\u00ea duy\u1ec7t d\u1ef1 \u00e1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n 35%; 3 d\u1ef1 \u00e1n c\u1ee7a Kosy s\u1ebd \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh th\u1ee7 t\u1ee5c ph\u00e1p l\u00fd<\/td><\/tr><tr><td>G\u00f3i t\u00edn d\u1ee5ng 120.000 t\u1ef7 VND<\/td><td>2024-2026<\/td><td>T\u0103ng 28% kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch t\u1ea1i c\u00e1c d\u1ef1 \u00e1n Kosy City v\u00e0 Riverside trong qu\u00fd 1\/2025<\/td><\/tr><tr><td>Gi\u1ea3m l\u00e3i su\u1ea5t cho vay b\u1ea5t \u0111\u1ed9ng s\u1ea3n<\/td><td>T\u1eeb 10,7% \u2192 8,2%<\/td><td>Chi ph\u00ed v\u1ed1n c\u1ee7a Kosy gi\u1ea3m 2,2% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024<\/td><\/tr><tr><td>D\u1ef1 th\u1ea3o Lu\u1eadt Kinh doanh B\u1ea5t \u0111\u1ed9ng s\u1ea3n s\u1eeda \u0111\u1ed5i<\/td><td>D\u1ef1 ki\u1ebfn th\u00f4ng qua qu\u00fd 2\/2025<\/td><td>\u0110\u01a1n gi\u1ea3n h\u00f3a th\u1ee7 t\u1ee5c b\u00e1n h\u00e0ng, gi\u1ea3m chi ph\u00ed ph\u00e1p l\u00fd 15%<\/td><\/tr><tr><td>Ngh\u1ecb quy\u1ebft 55-NQ\/TW<\/td><td>\u0110ang tri\u1ec3n khai<\/td><td>\u0110\u1ea3m b\u1ea3o gi\u00e1 FIT cho d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau trong 20 n\u0103m<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1eb7c bi\u1ec7t, Ngh\u1ecb \u0111\u1ecbnh 35\/2024\/N\u0110-CP (c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 15\/5\/2024) \u0111\u00e3 \u0111\u01a1n gi\u1ea3n h\u00f3a 21 th\u1ee7 t\u1ee5c h\u00e0nh ch\u00ednh trong ph\u00ea duy\u1ec7t d\u1ef1 \u00e1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n. Theo \u00f4ng Nguy\u1ec5n V\u0103n \u0110\u00ednh, Ph\u00f3 Ch\u1ee7 t\u1ecbch Hi\u1ec7p h\u1ed9i B\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam (VNREA), \u0111i\u1ec1u n\u00e0y s\u1ebd \"gi\u1ea3i ph\u00f3ng\" kho\u1ea3ng 30 d\u1ef1 \u00e1n b\u1ecb \u0111\u00ecnh tr\u1ec7 v\u1edbi t\u1ed5ng v\u1ed1n \u0111\u1ea7u t\u01b0 25 t\u1ef7 USD, bao g\u1ed3m 2 d\u1ef1 \u00e1n c\u1ee7a Kosy t\u1ea1i B\u1eafc Giang v\u00e0 H\u00e0 Nam.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ch\u00ednh s\u00e1ch n\u0103ng l\u01b0\u1ee3ng v\u00e0 tri\u1ec3n v\u1ecdng ng\u00e0nh<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo Quy ho\u1ea1ch ph\u00e1t tri\u1ec3n \u0111i\u1ec7n VIII \u0111\u01b0\u1ee3c Th\u1ee7 t\u01b0\u1edbng Ch\u00ednh ph\u1ee7 ph\u00ea duy\u1ec7t t\u1ea1i Quy\u1ebft \u0111\u1ecbnh 500\/Q\u0110-TTg ng\u00e0y 15\/5\/2023, Vi\u1ec7t Nam \u0111\u1eb7t m\u1ee5c ti\u00eau t\u0103ng t\u1ef7 tr\u1ecdng n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o l\u00ean 30,9-39,2% v\u00e0o n\u0103m 2030 v\u00e0 67,5-71,5% v\u00e0o n\u0103m 2050. \u0110\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau n\u00e0y, Vi\u1ec7t Nam c\u1ea7n b\u1ed5 sung kho\u1ea3ng 20GW \u0111i\u1ec7n gi\u00f3 v\u00e0 18GW \u0111i\u1ec7n m\u1eb7t tr\u1eddi v\u00e0o n\u0103m 2030.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ngh\u1ecb \u0111\u1ecbnh 42\/2024\/N\u0110-CP v\u1ec1 c\u01a1 ch\u1ebf khuy\u1ebfn kh\u00edch ph\u00e1t tri\u1ec3n \u0111i\u1ec7n m\u1eb7t tr\u1eddi v\u00e0 \u0111i\u1ec7n gi\u00f3 (c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 20\/4\/2024) \u0111\u01b0a ra gi\u00e1 FIT m\u1edbi cho \u0111i\u1ec7n gi\u00f3 tr\u00ean b\u1edd l\u00e0 7,5 cent M\u1ef9\/kWh v\u00e0 \u0111i\u1ec7n m\u1eb7t tr\u1eddi l\u00e0 7,2 cent M\u1ef9\/kWh, \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o trong 20 n\u0103m. Kosy l\u00e0 m\u1ed9t trong 27 doanh nghi\u1ec7p \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t cho c\u00e1c d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 v\u1edbi t\u1ed5ng c\u00f4ng su\u1ea5t 7.200MW.<\/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 c\u1ed5 phi\u1ebfu KOS 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'>D\u1ef1a tr\u00ean ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u1ec1&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>,&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u1ec1 xu\u1ea5t 3 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 cho c\u00e1c nh\u00f3m nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau:<\/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'>Chi\u1ebfn l\u01b0\u1ee3c \"L\u01b0\u1edbt s\u00f3ng 30 ng\u00e0y\": \u00c1p d\u1ee5ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n, t\u1eadn d\u1ee5ng \u0111\u1ed9ng l\u1ef1c t\u1eeb vi\u1ec7c ph\u00e1 v\u1ee1 kh\u00e1ng c\u1ef1. Mua KOS trong kho\u1ea3ng 19.200-19.500 VND, m\u1ee5c ti\u00eau 21.000-21.800 VND (+10-12%), c\u1eaft l\u1ed7 t\u1ea1i 18.500 VND (-3,5%).<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfn l\u01b0\u1ee3c \"Thu ho\u1ea1ch h\u00e0ng qu\u00fd\": D\u00e0nh cho nh\u00e0 \u0111\u1ea7u t\u01b0 trung h\u1ea1n trong 3-6 th\u00e1ng. T\u00edch l\u0169y KOS trong kho\u1ea3ng 18.700-19.500 VND v\u1edbi 3 l\u1ec7nh mua (40% t\u1ea1i 19.500, 30% n\u1ebfu \u0111i\u1ec1u ch\u1ec9nh v\u1ec1 19.000, 30% n\u1ebfu \u0111\u1ea1t 18.700), \u0111\u1eb7t m\u1ee5c ti\u00eau t\u1ea1i 23.000-24.000 VND (+18-23%), c\u1eaft l\u1ed7 d\u01b0\u1edbi 17.800 VND (-8,7%).<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfn l\u01b0\u1ee3c \"T\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c\": Ph\u00f9 h\u1ee3p cho nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n. Mua KOS trong kho\u1ea3ng 18.500-20.000 VND, gi\u1eef trong 24-36 th\u00e1ng, k\u1ebft h\u1ee3p thu nh\u1eadp t\u1eeb c\u1ed5 t\u1ee9c (d\u1ef1 ki\u1ebfn 4,5-5,0%\/n\u0103m) v\u00e0 t\u0103ng gi\u00e1 (d\u1ef1 ki\u1ebfn 25-30% trong 2 n\u0103m).<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u00f4 h\u00ecnh \u0111\u1ecbnh l\u01b0\u1ee3ng DCFF (Discounted Cash Flow to Firm) c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;x\u00e1c \u0111\u1ecbnh gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd c\u1ee7a KOS l\u00e0 24.500 VND (t\u0103ng +26% so v\u1edbi gi\u00e1 hi\u1ec7n t\u1ea1i), d\u1ef1a tr\u00ean c\u00e1c gi\u1ea3 \u0111\u1ecbnh: t\u0103ng tr\u01b0\u1edfng doanh thu 22% (2025), 18% (2026), 15% (2027), WACC 10,1%, t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng cu\u1ed1i k\u1ef3 5%.<\/p><\/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<\/th><th>V\u00f9ng mua<\/th><th>M\u1ee5c ti\u00eau<\/th><th>C\u1eaft l\u1ed7<\/th><th>Th\u1eddi gian n\u1eafm gi\u1eef<\/th><th>L\u1ee3i nhu\u1eadn k\u1ef3 v\u1ecdng<\/th><\/tr><\/thead><tbody><tr><td>L\u01b0\u1edbt s\u00f3ng 30 ng\u00e0y<\/td><td>19.200-19.500 VND<\/td><td>21.000-21.800 VND<\/td><td>18.500 VND (-3,5%)<\/td><td>2-4 tu\u1ea7n<\/td><td>+10-12%<\/td><\/tr><tr><td>Thu ho\u1ea1ch h\u00e0ng qu\u00fd<\/td><td>18.700-19.500 VND<\/td><td>23.000-24.000 VND<\/td><td>17.800 VND (-8,7%)<\/td><td>3-6 th\u00e1ng<\/td><td>+18-23%<\/td><\/tr><tr><td>T\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c<\/td><td>18.500-20.000 VND<\/td><td>27.000-30.000 VND<\/td><td>16.500 VND (-15%)<\/td><td>24-36 th\u00e1ng<\/td><td>+25-30% + c\u1ed5 t\u1ee9c 9-10%<\/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\u1eb7c bi\u1ec7t quan tr\u1ecdng: khi \u0111\u1ea7u t\u01b0 v\u00e0o KOS, nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam n\u00ean xem x\u00e9t c\u00e1c \u0111\u1eb7c th\u00f9 v\u1ec1 thu\u1ebf. Theo quy \u0111\u1ecbnh hi\u1ec7n h\u00e0nh, n\u1ebfu n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu tr\u00ean 2 n\u0103m, nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c mi\u1ec5n thu\u1ebf thu nh\u1eadp c\u00e1 nh\u00e2n \u0111\u1ed1i v\u1edbi c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t (th\u01b0\u1eddng l\u00e0 5%). Ngo\u00e0i ra, chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft ch\u1ecbu thu\u1ebf 0,1% tr\u00ean t\u1ed5ng gi\u00e1 tr\u1ecb giao d\u1ecbch, b\u1ea5t k\u1ec3 l\u00e3i hay l\u1ed7 - \u0111\u00e2y l\u00e0 m\u1ee9c thu\u1ebf r\u1ea5t th\u1ea5p so v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng kh\u00e1c trong khu v\u1ef1c.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Qu\u1ea3n l\u00fd r\u1ee7i ro khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu KOS<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1eb7c d\u00f9&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;c\u00f3 nhi\u1ec1u tri\u1ec3n v\u1ecdng t\u00edch c\u1ef1c, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n nh\u1eadn di\u1ec7n v\u00e0 qu\u1ea3n l\u00fd 5 r\u1ee7i ro ch\u00ednh 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'>R\u1ee7i ro ch\u00ednh s\u00e1ch: Thay \u0111\u1ed5i \u0111\u1ed9t ng\u1ed9t trong quy \u0111\u1ecbnh v\u1ec1 \u0111\u1ea5t \u0111ai v\u00e0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n, ho\u1eb7c \u0111i\u1ec1u ch\u1ec9nh gi\u00e1 FIT cho n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn k\u1ebf ho\u1ea1ch kinh doanh c\u1ee7a Kosy. Ngh\u1ecb \u0111\u1ecbnh 15\/2022\/N\u0110-CP v\u1ec1 mi\u1ec5n gi\u1ea3m thu\u1ebf \u0111\u1ea5t s\u1ebd h\u1ebft hi\u1ec7u l\u1ef1c v\u00e0o ng\u00e0y 31\/12\/2025, c\u00f3 th\u1ec3 t\u0103ng chi ph\u00ed cho c\u00e1c d\u1ef1 \u00e1n m\u1edbi.<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro t\u00e0i ch\u00ednh: M\u1eb7c d\u00f9 t\u1ef7 l\u1ec7 n\u1ee3 \u0111\u00e3 gi\u1ea3m xu\u1ed1ng 45%, v\u1edbi t\u1ed5ng n\u1ee3 c\u00f2n l\u1ea1i l\u00e0 2.650 t\u1ef7 VND, m\u1ed7i l\u1ea7n t\u0103ng l\u00e3i su\u1ea5t 1% s\u1ebd l\u00e0m t\u0103ng chi ph\u00ed t\u00e0i ch\u00ednh kho\u1ea3ng 26,5 t\u1ef7 VND\/n\u0103m. \u0110\u00e1ng ch\u00fa \u00fd, 35% n\u1ee3 c\u1ee7a Kosy l\u00e0 b\u1eb1ng USD, g\u00e2y ra r\u1ee7i ro t\u1ef7 gi\u00e1 khi Fed d\u1ef1 ki\u1ebfn gi\u1ea3m l\u00e3i su\u1ea5t ch\u1eadm h\u01a1n d\u1ef1 ki\u1ebfn tr\u01b0\u1edbc \u0111\u00f3.<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro tri\u1ec3n khai d\u1ef1 \u00e1n: D\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau \u0111ang g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c v\u1eadn chuy\u1ec3n tuabin t\u1eeb ch\u00e2u \u00c2u, c\u00f3 th\u1ec3 b\u1ecb tr\u00ec ho\u00e3n 2-3 th\u00e1ng so v\u1edbi k\u1ebf ho\u1ea1ch ban \u0111\u1ea7u (Q2\/2025). \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng 12-15% k\u1ebf ho\u1ea1ch doanh thu n\u0103m 2025.<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro th\u1ecb tr\u01b0\u1eddng: KOS c\u00f3 h\u1ec7 s\u1ed1 Beta l\u00e0 1,25, dao \u0111\u1ed9ng m\u1ea1nh h\u01a1n VN-Index 25%. Trong k\u1ecbch b\u1ea3n VN-Index \u0111i\u1ec1u ch\u1ec9nh 10%, KOS c\u00f3 th\u1ec3 gi\u1ea3m kho\u1ea3ng 12,5% theo m\u00f4 h\u00ecnh \u0111\u1ecbnh l\u01b0\u1ee3ng.<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro \u0111\u1eb7c th\u00f9: Qu\u1ef9 \u0111\u1ea5t c\u1ee7a Kosy t\u1eadp trung \u1edf c\u00e1c t\u1ec9nh v\u1ec7 tinh (kh\u00f4ng ph\u1ea3i TP.HCM hay H\u00e0 N\u1ed9i), do \u0111\u00f3 thanh kho\u1ea3n c\u00f3 th\u1ec3 th\u1ea5p h\u01a1n v\u00e0 th\u1eddi gian b\u00e1n h\u00e0ng d\u00e0i h\u01a1n so v\u1edbi c\u00e1c d\u1ef1 \u00e1n \u1edf th\u00e0nh ph\u1ed1 l\u1edbn.<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 qu\u1ea3n l\u00fd hi\u1ec7u qu\u1ea3 c\u00e1c r\u1ee7i ro tr\u00ean,&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u1ec1 xu\u1ea5t 5 bi\u1ec7n ph\u00e1p c\u1ee5 th\u1ec3:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Bi\u1ec7n ph\u00e1p qu\u1ea3n l\u00fd r\u1ee7i ro<\/th><th>Ph\u01b0\u01a1ng ph\u00e1p th\u1ef1c hi\u1ec7n c\u1ee5 th\u1ec3<\/th><th>M\u1ee9c \u0111\u1ed9 \u01b0u ti\u00ean<\/th><\/tr><\/thead><tbody><tr><td>\u0110a d\u1ea1ng h\u00f3a danh m\u1ee5c<\/td><td>KOS kh\u00f4ng n\u00ean v\u01b0\u1ee3t qu\u00e1 5-7% t\u1ed5ng danh m\u1ee5c; k\u1ebft h\u1ee3p v\u1edbi c\u1ed5 phi\u1ebfu t\u1eeb c\u00e1c ng\u00e0nh kh\u00e1c nh\u01b0 ng\u00e2n h\u00e0ng, b\u00e1n l\u1ebb<\/td><td>Cao<\/td><\/tr><tr><td>\u0110\u1eb7t c\u1eaft l\u1ed7 k\u00e9p<\/td><td>C\u1eaft l\u1ed7 c\u1ea3 theo gi\u00e1 (-8% t\u1eeb gi\u00e1 mua) v\u00e0 th\u1eddi gian (n\u1ebfu gi\u00e1 \u0111i ngang h\u01a1n 15 phi\u00ean li\u00ean ti\u1ebfp)<\/td><td>Cao<\/td><\/tr><tr><td>Ph\u00e2n b\u1ed5 v\u1ed1n theo giai \u0111o\u1ea1n<\/td><td>Chia v\u1ed1n th\u00e0nh 3-4 ph\u1ea7n, mua d\u1ea7n trong v\u00f9ng gi\u00e1 m\u1ee5c ti\u00eau theo t\u1ef7 l\u1ec7 40:30:30<\/td><td>Trung b\u00ecnh<\/td><\/tr><tr><td>Theo d\u00f5i th\u00f4ng tin th\u01b0\u1eddng xuy\u00ean<\/td><td>\u0110\u0103ng k\u00fd nh\u1eadn th\u00f4ng b\u00e1o t\u1eeb Kosy; ki\u1ec3m tra b\u00e1o c\u00e1o ph\u00e2n t\u00edch h\u00e0ng tu\u1ea7n t\u1eeb Pocket Option<\/td><td>Trung b\u00ecnh<\/td><\/tr><tr><td>S\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 ph\u00e1i sinh<\/td><td>Mua PUTs tr\u00ean VN30 \u0111\u1ec3 b\u1ea3o v\u1ec7 danh m\u1ee5c khi n\u1eafm gi\u1eef l\u01b0\u1ee3ng l\u1edbn KOS (&gt;100.000 c\u1ed5 phi\u1ebfu)<\/td><td>Th\u1ea5p (ch\u1ec9 d\u00e0nh cho nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t g\u00f3c nh\u00ecn hi\u1ebfm khi \u0111\u01b0\u1ee3c \u0111\u1ec1 c\u1eadp: trong giai \u0111o\u1ea1n gi\u00e1 KOS t\u0103ng m\u1ea1nh (nh\u01b0 hi\u1ec7n t\u1ea1i), nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 c\u00e2n nh\u1eafc chi\u1ebfn l\u01b0\u1ee3c \"trailing stop\". C\u1ee5 th\u1ec3, thay v\u00ec \u0111\u1eb7t c\u1eaft l\u1ed7 c\u1ed1 \u0111\u1ecbnh, \u0111i\u1ec1u ch\u1ec9nh m\u1ee9c c\u1eaft l\u1ed7 theo gi\u00e1 hi\u1ec7n t\u1ea1i, v\u00ed d\u1ee5 lu\u00f4n duy tr\u00ec kho\u1ea3ng c\u00e1ch 8% d\u01b0\u1edbi gi\u00e1 cao nh\u1ea5t \u0111\u1ea1t \u0111\u01b0\u1ee3c. Chi\u1ebfn l\u01b0\u1ee3c n\u00e0y cho ph\u00e9p \"\u0111\u1ec3 l\u1ee3i nhu\u1eadn ch\u1ea1y\" trong xu h\u01b0\u1edbng t\u0103ng trong khi v\u1eabn b\u1ea3o v\u1ec7 ph\u1ea7n l\u1edbn l\u1ee3i nhu\u1eadn khi xu h\u01b0\u1edbng \u0111\u1ea3o chi\u1ec1u.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>So s\u00e1nh c\u1ed5 phi\u1ebfu KOS v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu c\u00f9ng ng\u00e0nh<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 c\u00f3 c\u00e1i nh\u00ecn kh\u00e1ch quan v\u1ec1 v\u1ecb th\u1ebf c\u1ee7a KOS, ch\u00fang ta s\u1ebd so s\u00e1nh chi ti\u1ebft v\u1edbi 5 c\u1ed5 phi\u1ebfu nh\u1ecf v\u00e0 trung b\u00ecnh trong ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u1ea1i 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>KOS<\/th><th>VIC<\/th><th>NLG<\/th><th>HDG<\/th><th>POW<\/th><th>REE<\/th><\/tr><\/thead><tbody><tr><td>Gi\u00e1 10\/04\/2025 (VND)<\/td><td>19.450<\/td><td>45.800<\/td><td>28.200<\/td><td>31.500<\/td><td>14.300<\/td><td>82.600<\/td><\/tr><tr><td>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 VND)<\/td><td>2.950<\/td><td>152.450<\/td><td>8.460<\/td><td>6.300<\/td><td>33.542<\/td><td>25.600<\/td><\/tr><tr><td>P\/E hi\u1ec7n t\u1ea1i<\/td><td>15,2<\/td><td>33,8<\/td><td>18,5<\/td><td>12,8<\/td><td>11,2<\/td><td>14,3<\/td><\/tr><tr><td>P\/E d\u1ef1 ph\u00f3ng 2025<\/td><td>13,6<\/td><td>28,5<\/td><td>17,2<\/td><td>11,5<\/td><td>10,8<\/td><td>13,5<\/td><\/tr><tr><td>P\/B<\/td><td>1,8<\/td><td>3,2<\/td><td>1,6<\/td><td>1,5<\/td><td>1,2<\/td><td>2,1<\/td><\/tr><tr><td>ROE (%)<\/td><td>12,8<\/td><td>9,5<\/td><td>10,2<\/td><td>12,5<\/td><td>10,8<\/td><td>15,2<\/td><\/tr><tr><td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 2024<\/td><td>+15,5%<\/td><td>+12,2%<\/td><td>+8,5%<\/td><td>+18,2%<\/td><td>+5,8%<\/td><td>+16,3%<\/td><\/tr><tr><td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c (%)<\/td><td>4,5<\/td><td>1,2<\/td><td>3,8<\/td><td>5,0<\/td><td>6,2<\/td><td>3,5<\/td><\/tr><tr><td>N\u1ee3\/V\u1ed1n ch\u1ee7 s\u1edf h\u1eefu<\/td><td>0,45<\/td><td>0,62<\/td><td>0,38<\/td><td>0,52<\/td><td>0,31<\/td><td>0,48<\/td><\/tr><tr><td>Beta<\/td><td>1,25<\/td><td>1,35<\/td><td>1,18<\/td><td>1,22<\/td><td>0,85<\/td><td>0,92<\/td><\/tr><tr><td>\u0110a d\u1ea1ng h\u00f3a ng\u00e0nh<\/td><td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + N\u0103ng l\u01b0\u1ee3ng<\/td><td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + B\u00e1n l\u1ebb + C\u00f4ng ngh\u1ec7<\/td><td>Ch\u1ec9 B\u1ea5t \u0111\u1ed9ng s\u1ea3n<\/td><td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + Th\u1ee7y \u0111i\u1ec7n nh\u1ecf<\/td><td>Ch\u1ec9 N\u0103ng l\u01b0\u1ee3ng<\/td><td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + \u0110i\u1ec7n + N\u01b0\u1edbc<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>T\u1eeb b\u1ea3ng so s\u00e1nh tr\u00ean, 5 l\u1ee3i th\u1ebf c\u1ea1nh tranh ch\u00ednh c\u1ee7a KOS n\u1ed5i b\u1eadt:<\/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'>\u0110\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd: P\/E th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi VIC (33,8) v\u00e0 NLG (18,5), t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi REE (14,3) - m\u1ed9t c\u00f4ng ty c\u00f3 m\u00f4 h\u00ecnh kinh doanh t\u01b0\u01a1ng t\u1ef1 (\u0111a d\u1ea1ng h\u00f3a b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Hi\u1ec7u qu\u1ea3 v\u1ed1n cao: ROE \u0111\u1ea1t 12,8%, ch\u1ec9 th\u1ea5p h\u01a1n REE (15,2%) nh\u01b0ng cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi VIC, NLG v\u00e0 POW<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn thu\u1eadn l\u1ee3i: T\u0103ng 15,5% trong n\u0103m 2024 cao h\u01a1n trung b\u00ecnh ng\u00e0nh (12,8%), ch\u1ec9 th\u1ea5p h\u01a1n HDG (18,2%)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00e2n b\u1eb1ng gi\u1eefa t\u0103ng tr\u01b0\u1edfng v\u00e0 c\u1ed5 t\u1ee9c: L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c 4,5% kh\u00e1 h\u1ea5p d\u1eabn, cao h\u01a1n VIC, NLG v\u00e0 REE<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a b\u1ec1n v\u1eefng: K\u1ebft h\u1ee3p b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (kh\u00f4ng ph\u1ea3i than hay kh\u00ed nh\u01b0 POW), t\u1ea1o ra d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh h\u01a1n so v\u1edbi c\u00e1c c\u00f4ng ty ch\u1ec9 b\u1ea5t \u0111\u1ed9ng s\u1ea3n nh\u01b0 NLG<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n c\u1ee7a&nbsp;<b>Pocket Option<\/b>, KOS hi\u1ec7n \u0111ang b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p kho\u1ea3ng 12-15% so v\u1edbi gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd d\u1ef1a tr\u00ean m\u00f4 h\u00ecnh P\/E t\u01b0\u01a1ng \u0111\u1ed1i, khi so s\u00e1nh v\u1edbi c\u00e1c doanh nghi\u1ec7p c\u00f3 m\u00f4 h\u00ecnh kinh doanh t\u01b0\u01a1ng t\u1ef1 nh\u01b0 HDG v\u00e0 REE. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra c\u01a1 h\u1ed9i h\u1ea5p d\u1eabn cho nh\u00e0 \u0111\u1ea7u t\u01b0 khi th\u1ecb tr\u01b0\u1eddng d\u1ea7n nh\u1eadn ra gi\u00e1 tr\u1ecb th\u1ef1c s\u1ef1 c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a c\u1ee7a c\u00f4ng ty.<\/p><\/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 l\u00e0 trong giai \u0111o\u1ea1n 2022-2024, khi th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n g\u1eb7p kh\u00f3 kh\u0103n, c\u00e1c c\u00f4ng ty \u0111a d\u1ea1ng h\u00f3a nh\u01b0 REE v\u00e0 HDG \u0111\u1ec1u v\u01b0\u1ee3t tr\u1ed9i h\u01a1n so v\u1edbi c\u00e1c c\u00f4ng ty ch\u1ec9 b\u1ea5t \u0111\u1ed9ng s\u1ea3n. V\u1edbi t\u1ef7 tr\u1ecdng doanh thu t\u1eeb n\u0103ng l\u01b0\u1ee3ng d\u1ef1 ki\u1ebfn t\u0103ng l\u00ean 42% v\u00e0o n\u0103m 2026, KOS c\u00f3 ti\u1ec1m n\u0103ng theo m\u00f4 h\u00ecnh th\u00e0nh c\u00f4ng c\u1ee7a REE - m\u1ed9t c\u00f4ng ty \u0111\u00e3 t\u0103ng gi\u00e1 g\u1ea5p ba l\u1ea7n trong 5 n\u0103m qua nh\u1edd chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a t\u01b0\u01a1ng t\u1ef1.<\/p><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>K\u1ebft lu\u1eadn v\u00e0 tri\u1ec3n v\u1ecdng t\u01b0\u01a1ng lai<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch to\u00e0n di\u1ec7n c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n, k\u1ef9 thu\u1eadt v\u00e0 v\u0129 m\u00f4,&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;r\u00f5 r\u00e0ng th\u1ec3 hi\u1ec7n 5 \u0111i\u1ec3m m\u1ea1nh ch\u00ednh khi\u1ebfn n\u00f3 tr\u1edf th\u00e0nh l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 h\u1ea5p d\u1eabn cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam trong n\u0103m 2025:<\/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'>M\u00f4 h\u00ecnh kinh doanh c\u00e2n b\u1eb1ng: Kosy \u0111\u00e3 th\u00e0nh c\u00f4ng v\u1edbi chi\u1ebfn l\u01b0\u1ee3c \"hai tr\u1ee5 c\u1ed9t\" - k\u1ebft h\u1ee3p d\u00f2ng ti\u1ec1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n (l\u1ee3i nhu\u1eadn cao nh\u01b0ng chu k\u1ef3) v\u1edbi n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (l\u1ee3i nhu\u1eadn \u1ed5n \u0111\u1ecbnh d\u00e0i h\u1ea1n)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng: T\u0103ng tr\u01b0\u1edfng doanh thu v\u00e0 l\u1ee3i nhu\u1eadn CAGR \u0111\u1ea1t 18,5% v\u00e0 15,3% trong 3 n\u0103m qua, cao h\u01a1n trung b\u00ecnh ng\u00e0nh (13,2% v\u00e0 11,5%)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn: P\/E hi\u1ec7n t\u1ea1i 15,2x th\u1ea5p h\u01a1n 15% so v\u1edbi trung b\u00ecnh ng\u00e0nh, trong khi ROE cao h\u01a1n trung b\u00ecnh 25%<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>X\u00e1c nh\u1eadn xu h\u01b0\u1edbng k\u1ef9 thu\u1eadt: M\u00f4 h\u00ecnh \"Cup and Handle\" \u0111\u00e3 ho\u00e0n th\u00e0nh v\u1edbi s\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng, x\u00e1c nh\u1eadn xu h\u01b0\u1edbng t\u0103ng m\u1edbi<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ed9ng l\u1ef1c ch\u00ednh s\u00e1ch: H\u01b0\u1edfng l\u1ee3i t\u1eeb hai ng\u00e0nh \u0111\u01b0\u1ee3c ch\u00ednh ph\u1ee7 Vi\u1ec7t Nam \u01b0u ti\u00ean h\u1ed7 tr\u1ee3: b\u1ea5t \u0111\u1ed9ng s\u1ea3n (Lu\u1eadt \u0110\u1ea5t \u0111ai m\u1edbi, g\u00f3i t\u00edn d\u1ee5ng 120.000 t\u1ef7) v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (Ngh\u1ecb quy\u1ebft 55-NQ\/TW)<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;d\u1ef1 b\u00e1o 3 k\u1ecbch b\u1ea3n cho KOS trong 12 th\u00e1ng t\u1edbi:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>K\u1ecbch b\u1ea3n<\/th><th>X\u00e1c su\u1ea5t<\/th><th>Gi\u00e1 m\u1ee5c ti\u00eau<\/th><th>T\u0103ng\/Gi\u1ea3m<\/th><th>Gi\u1ea3 \u0111\u1ecbnh ch\u00ednh<\/th><\/tr><\/thead><tbody><tr><td>T\u00edch c\u1ef1c<\/td><td>35%<\/td><td>26.500 VND<\/td><td>+36,2%<\/td><td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 25%, P\/E m\u1ee5c ti\u00eau 16x<\/td><\/tr><tr><td>C\u01a1 b\u1ea3n<\/td><td>50%<\/td><td>23.800 VND<\/td><td>+22,4%<\/td><td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 18%, P\/E m\u1ee5c ti\u00eau 15x<\/td><\/tr><tr><td>Th\u1eadn tr\u1ecdng<\/td><td>15%<\/td><td>21.000 VND<\/td><td>+8,0%<\/td><td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 12%, P\/E m\u1ee5c ti\u00eau 14x<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u1edbi t\u1ef7 l\u1ec7 r\u1ee7i ro-l\u1ee3i nhu\u1eadn l\u00e0 3,2:1 trong k\u1ecbch b\u1ea3n c\u01a1 b\u1ea3n, KOS hi\u1ec7n l\u00e0 m\u1ed9t trong nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 t\u1ef7 l\u1ec7 t\u1ed1t nh\u1ea5t trong nh\u00f3m v\u1ed1n h\u00f3a nh\u1ecf v\u00e0 trung b\u00ecnh tr\u00ean HOSE, theo \u0111\u00e1nh gi\u00e1 c\u1ee7a&nbsp;<b>Pocket Option<\/b>.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>K\u1ebft lu\u1eadn:&nbsp;<b>C\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;x\u1ee9ng \u0111\u00e1ng \u0111\u01b0\u1ee3c th\u00eam v\u00e0o danh s\u00e1ch theo d\u00f5i v\u00e0 danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam, v\u1edbi c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00f9 h\u1ee3p t\u00f9y thu\u1ed9c v\u00e0o m\u1ee5c ti\u00eau v\u00e0 kh\u1ea9u v\u1ecb r\u1ee7i ro. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 trung v\u00e0 d\u00e0i h\u1ea1n, KOS mang l\u1ea1i c\u01a1 h\u1ed9i s\u1edf h\u1eefu m\u1ed9t doanh nghi\u1ec7p v\u1edbi m\u00f4 h\u00ecnh kinh doanh b\u1ec1n v\u1eefng, \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn v\u00e0 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n t\u1eeb hai ng\u00e0nh \u0111\u01b0\u1ee3c \u01b0u ti\u00ean ph\u00e1t tri\u1ec3n t\u1ea1i Vi\u1ec7t Nam.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean b\u1eaft \u0111\u1ea7u t\u00edch l\u0169y KOS trong kho\u1ea3ng 18.700-19.500 VND, \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 v\u1ed1n theo t\u1ef7 l\u1ec7 40:30:30, v\u00e0 theo d\u00f5i s\u00e1t sao ti\u1ebfn \u0111\u1ed9 c\u1ee7a hai d\u1ef1 \u00e1n ch\u1ee7 ch\u1ed1t: Kosy City (Th\u00e1i Nguy\u00ean) v\u00e0 Nh\u00e0 m\u00e1y \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau - hai \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng ch\u00ednh cho c\u00f4ng ty trong 12-18 th\u00e1ng t\u1edbi.<\/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'>T\u1ed5ng quan v\u1ec1 c\u1ed5 phi\u1ebfu KOS v\u00e0 v\u1ecb th\u1ebf c\u1ee7a n\u00f3 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'><b>C\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;l\u00e0 m\u00e3 giao d\u1ecbch c\u1ee7a C\u00f4ng ty C\u1ed5 ph\u1ea7n Kosy, m\u1ed9t doanh nghi\u1ec7p \u0111\u01b0\u1ee3c th\u00e0nh l\u1eadp n\u0103m 2008 v\u1edbi v\u1ed1n \u0111i\u1ec1u l\u1ec7 ban \u0111\u1ea7u l\u00e0 86 t\u1ef7 VND, hi\u1ec7n \u0111\u00e3 t\u0103ng l\u00ean 2.345 t\u1ef7 VND (t\u00ednh \u0111\u1ebfn qu\u00fd 1\/2025). Kosy ho\u1ea1t \u0111\u1ed9ng ch\u1ee7 y\u1ebfu trong hai l\u0129nh v\u1ef1c: b\u1ea5t \u0111\u1ed9ng s\u1ea3n cao c\u1ea5p v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, v\u1edbi 75% doanh thu t\u1eeb b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 25% t\u1eeb n\u0103ng l\u01b0\u1ee3ng xanh v\u00e0o n\u0103m 2024.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>T\u1eeb qu\u00fd 3\/2024 \u0111\u1ebfn nay,&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;\u0111\u00e3 ghi nh\u1eadn m\u1ee9c t\u0103ng 245% v\u1ec1 kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch, t\u1eeb trung b\u00ecnh 1,2 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean l\u00ean 4,15 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean. \u0110i\u1ec1u n\u00e0y ph\u1ea3n \u00e1nh s\u1ef1 quan t\u00e2m ng\u00e0y c\u00e0ng t\u0103ng c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ed1i v\u1edbi chi\u1ebfn l\u01b0\u1ee3c m\u1edf r\u1ed9ng c\u1ee7a Kosy v\u00e0o n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o &#8211; m\u1ed9t xu h\u01b0\u1edbng \u0111ang \u0111\u01b0\u1ee3c ch\u00ednh ph\u1ee7 Vi\u1ec7t Nam \u01b0u ti\u00ean v\u1edbi ch\u00ednh s\u00e1ch thu\u1ebf \u01b0u \u0111\u00e3i 10% trong 15 n\u0103m \u0111\u1ea7u ho\u1ea1t \u0111\u1ed9ng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo d\u1eef li\u1ec7u \u0111\u1ed9c quy\u1ec1n t\u1eeb&nbsp;<b>Pocket Option<\/b>, v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a KOS \u0111\u00e3 t\u0103ng t\u1eeb 1.850 t\u1ef7 VND (th\u00e1ng 4\/2024) l\u00ean 2.950 t\u1ef7 VND (th\u00e1ng 4\/2025), t\u01b0\u01a1ng \u0111\u01b0\u01a1ng m\u1ee9c t\u0103ng 59,5% trong 12 th\u00e1ng. \u0110\u00e1ng ch\u00fa \u00fd, t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i \u0111\u00e3 t\u0103ng t\u1eeb 4,8% l\u00ean 7,2% trong c\u00f9ng k\u1ef3, m\u1eb7c d\u00f9 xu h\u01b0\u1edbng chung l\u00e0 r\u00fat v\u1ed1n kh\u1ecfi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n 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>Gi\u00e1 tr\u1ecb<\/th>\n<th>So v\u1edbi ng\u00e0nh<\/th>\n<th>Xu h\u01b0\u1edbng 12 th\u00e1ng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng<\/td>\n<td>2.950 t\u1ef7 VND<\/td>\n<td>Trung b\u00ecnh (Ng\u00e0nh B\u1ea5t \u0111\u1ed9ng s\u1ea3n: 3.150 t\u1ef7)<\/td>\n<td>\u2191 59,5%<\/td>\n<\/tr>\n<tr>\n<td>P\/E<\/td>\n<td>15,2<\/td>\n<td>Th\u1ea5p h\u01a1n trung b\u00ecnh ng\u00e0nh (17,8)<\/td>\n<td>\u2193 T\u1eeb 16,5<\/td>\n<\/tr>\n<tr>\n<td>ROE<\/td>\n<td>12,8%<\/td>\n<td>Cao h\u01a1n trung b\u00ecnh ng\u00e0nh (9,6%)<\/td>\n<td>\u2191 T\u1eeb 10,5%<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c<\/td>\n<td>4,5%<\/td>\n<td>Cao h\u01a1n trung b\u00ecnh ng\u00e0nh (3,2%)<\/td>\n<td>\u2192 Kh\u00f4ng \u0111\u1ed5i<\/td>\n<\/tr>\n<tr>\n<td>Beta<\/td>\n<td>1,25<\/td>\n<td>Bi\u1ebfn \u0111\u1ed9ng cao h\u01a1n th\u1ecb tr\u01b0\u1eddng<\/td>\n<td>\u2191 T\u1eeb 1,08<\/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'>Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u1ec1 c\u1ed5 phi\u1ebfu KOS &#8211; Ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch s\u00e2u v\u1ec1&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;t\u1eeb c\u00e1c chuy\u00ean gia c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;ch\u1ec9 ra ba y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n ch\u00ednh. Th\u1ee9 nh\u1ea5t, Kosy \u0111ang th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c &#8220;hai tr\u1ee5 c\u1ed9t&#8221; v\u1edbi t\u1ef7 l\u1ec7 \u0111\u1ea7u t\u01b0 70:30 gi\u1eefa b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o &#8211; m\u1ed9t m\u00f4 h\u00ecnh kh\u00f4ng ph\u1ed5 bi\u1ebfn \u1edf Vi\u1ec7t Nam nh\u01b0ng \u0111\u00e3 ch\u1ee9ng minh hi\u1ec7u qu\u1ea3 \u1edf th\u1ecb tr\u01b0\u1eddng Th\u00e1i Lan v\u00e0 Malaysia trong vi\u1ec7c c\u00e2n b\u1eb1ng d\u00f2ng ti\u1ec1n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Th\u1ee9 hai, Kosy s\u1edf h\u1eefu qu\u1ef9 \u0111\u1ea5t 685 ha t\u1ea1i 6 t\u1ec9nh, v\u1edbi 78% \u0111\u00e3 ho\u00e0n th\u00e0nh th\u1ee7 t\u1ee5c ph\u00e1p l\u00fd, v\u1edbi chi ph\u00ed trung b\u00ecnh 2,3 tri\u1ec7u VND\/m\u00b2, th\u1ea5p h\u01a1n 35% so v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i. Th\u1ee9 ba, m\u1ea3ng n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o \u0111ang \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb c\u00e1c \u01b0u \u0111\u00e3i theo Quy\u1ebft \u0111\u1ecbnh 13\/2020\/Q\u0110-TTg v\u1edbi gi\u00e1 FIT (gi\u00e1 mua \u0111i\u1ec7n) \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o trong 20 n\u0103m.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>K\u1ebft qu\u1ea3 kinh doanh v\u00e0 t\u00e0i ch\u00ednh<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>B\u00e1o c\u00e1o t\u00e0i ch\u00ednh qu\u00fd 1\/2025 c\u1ee7a Kosy ghi nh\u1eadn doanh thu 1.250 t\u1ef7 VND, t\u0103ng 18,7% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024. \u0110\u00e1ng ch\u00fa \u00fd, bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p c\u1ea3i thi\u1ec7n t\u1eeb 20,4% l\u00ean 25,2%, cao h\u01a1n trung b\u00ecnh ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n (18,7%) v\u00e0 n\u0103ng l\u01b0\u1ee3ng (22,1%) t\u1ea1i Vi\u1ec7t Nam. Theo CFO c\u1ee7a Kosy, s\u1ef1 c\u1ea3i thi\u1ec7n n\u00e0y \u0111\u1ebfn t\u1eeb vi\u1ec7c ghi nh\u1eadn doanh thu t\u1eeb D\u1ef1 \u00e1n Th\u1ee7y \u0111i\u1ec7n N\u1eadm P\u1ea1c (c\u00f4ng su\u1ea5t 34MW) b\u1eaft \u0111\u1ea7u ho\u1ea1t \u0111\u1ed9ng t\u1eeb th\u00e1ng 12\/2024.<\/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>2023<\/th>\n<th>2024<\/th>\n<th>2025 (Q1)<\/th>\n<th>T\u0103ng tr\u01b0\u1edfng YoY<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Doanh thu<\/td>\n<td>2.850 t\u1ef7 VND<\/td>\n<td>3.380 t\u1ef7 VND<\/td>\n<td>1.250 t\u1ef7 VND<\/td>\n<td>+18,7%<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i nhu\u1eadn g\u1ed9p<\/td>\n<td>580 t\u1ef7 VND<\/td>\n<td>690 t\u1ef7 VND<\/td>\n<td>315 t\u1ef7 VND<\/td>\n<td>+22,1%<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i nhu\u1eadn r\u00f2ng<\/td>\n<td>290 t\u1ef7 VND<\/td>\n<td>335 t\u1ef7 VND<\/td>\n<td>142 t\u1ef7 VND<\/td>\n<td>+15,3%<\/td>\n<\/tr>\n<tr>\n<td>EPS<\/td>\n<td>2.450 VND<\/td>\n<td>2.820 VND<\/td>\n<td>1.180 VND<\/td>\n<td>+14,8%<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 l\u1ec7 N\u1ee3\/V\u1ed1n ch\u1ee7 s\u1edf h\u1eefu<\/td>\n<td>65%<\/td>\n<td>48%<\/td>\n<td>45%<\/td>\n<td>Gi\u1ea3m 20 \u0111i\u1ec3m ph\u1ea7n tr\u0103m<\/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'>V\u1ec1 c\u1ea5u tr\u00fac t\u00e0i ch\u00ednh, Kosy \u0111\u00e3 gi\u1ea3m \u0111\u00e1ng k\u1ec3 t\u1ef7 l\u1ec7 n\u1ee3 t\u1eeb 65% (2022) xu\u1ed1ng 45% (Q1\/2025), th\u1ea5p h\u01a1n trung b\u00ecnh ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n (57%). Chi ph\u00ed v\u1ed1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WACC) c\u1ee7a c\u00f4ng ty \u0111\u00e3 gi\u1ea3m t\u1eeb 12,3% xu\u1ed1ng 10,1%, gi\u00fap t\u0103ng l\u1ee3i nhu\u1eadn v\u00e0 gi\u1ea3m \u00e1p l\u1ef1c d\u00f2ng ti\u1ec1n trong b\u1ed1i c\u1ea3nh bi\u1ebfn \u0111\u1ed9ng l\u00e3i su\u1ea5t.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Danh m\u1ee5c d\u1ef1 \u00e1n v\u00e0 tri\u1ec3n v\u1ecdng<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Hi\u1ec7n t\u1ea1i, Kosy \u0111ang tri\u1ec3n khai 8 d\u1ef1 \u00e1n l\u1edbn, bao g\u1ed3m 3 d\u1ef1 \u00e1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n trong giai \u0111o\u1ea1n b\u00e1n h\u00e0ng v\u00e0 5 d\u1ef1 \u00e1n n\u0103ng l\u01b0\u1ee3ng \u1edf c\u00e1c giai \u0111o\u1ea1n kh\u00e1c nhau. T\u1ef7 su\u1ea5t ho\u00e0n v\u1ed1n n\u1ed9i b\u1ed9 (IRR) d\u1ef1 ki\u1ebfn c\u1ee7a c\u00e1c d\u1ef1 \u00e1n n\u00e0y dao \u0111\u1ed9ng t\u1eeb 18% \u0111\u1ebfn 25%, cao h\u01a1n trung b\u00ecnh ng\u00e0nh l\u00e0 16,5%.<\/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>D\u1ef1 \u00e1n<\/th>\n<th>\u0110\u1ecba \u0111i\u1ec3m<\/th>\n<th>T\u1ed5ng \u0111\u1ea7u t\u01b0<\/th>\n<th>Ti\u1ebfn \u0111\u1ed9<\/th>\n<th>IRR d\u1ef1 ki\u1ebfn<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Kosy City<\/td>\n<td>Th\u00e1i Nguy\u00ean<\/td>\n<td>1.800 t\u1ef7 VND<\/td>\n<td>80% (b\u00e0n giao Q3\/2025)<\/td>\n<td>21%<\/td>\n<\/tr>\n<tr>\n<td>Kosy Riverside<\/td>\n<td>L\u00e0o Cai<\/td>\n<td>1.200 t\u1ef7 VND<\/td>\n<td>65% (b\u00e0n giao Q4\/2025)<\/td>\n<td>19%<\/td>\n<\/tr>\n<tr>\n<td>Kosy Mountain View<\/td>\n<td>H\u00f2a B\u00ecnh<\/td>\n<td>950 t\u1ef7 VND<\/td>\n<td>45% (b\u00e0n giao Q2\/2026)<\/td>\n<td>18%<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 m\u00e1y \u0111i\u1ec7n gi\u00f3 Kosy B\u1ea1c Li\u00eau<\/td>\n<td>B\u1ea1c Li\u00eau<\/td>\n<td>3.500 t\u1ef7 VND<\/td>\n<td>90% (ho\u1ea1t \u0111\u1ed9ng Q2\/2025)<\/td>\n<td>25%<\/td>\n<\/tr>\n<tr>\n<td>D\u1ef1 \u00e1n th\u1ee7y \u0111i\u1ec7n N\u1eadm P\u1ea1c<\/td>\n<td>\u0110i\u1ec7n Bi\u00ean<\/td>\n<td>780 t\u1ef7 VND<\/td>\n<td>100% (ho\u1ea1t \u0111\u1ed9ng t\u1eeb 12\/2024)<\/td>\n<td>22%<\/td>\n<\/tr>\n<tr>\n<td>D\u1ef1 \u00e1n \u0111i\u1ec7n m\u1eb7t tr\u1eddi Kosy Ninh Thu\u1eadn<\/td>\n<td>Ninh Thu\u1eadn<\/td>\n<td>1.450 t\u1ef7 VND<\/td>\n<td>30% (d\u1ef1 ki\u1ebfn Q1\/2026)<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr>\n<td>D\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 Kosy S\u00f3c Tr\u0103ng<\/td>\n<td>S\u00f3c Tr\u0103ng<\/td>\n<td>2.800 t\u1ef7 VND<\/td>\n<td>15% (d\u1ef1 ki\u1ebfn Q3\/2026)<\/td>\n<td>23%<\/td>\n<\/tr>\n<tr>\n<td>Khu \u0111\u00f4 th\u1ecb Kosy B\u1eafc Giang<\/td>\n<td>B\u1eafc Giang<\/td>\n<td>1.350 t\u1ef7 VND<\/td>\n<td>20% (d\u1ef1 ki\u1ebfn Q4\/2026)<\/td>\n<td>20%<\/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'>Ph\u00e2n t\u00edch c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ea5y m\u1ea3ng n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o s\u1ebd \u0111\u00f3ng g\u00f3p 42% l\u1ee3i nhu\u1eadn c\u1ee7a Kosy v\u00e0o n\u0103m 2026, t\u0103ng t\u1eeb m\u1ee9c 25% hi\u1ec7n t\u1ea1i. \u0110\u00e2y l\u00e0 y\u1ebfu t\u1ed1 kh\u00e1c bi\u1ec7t cho&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7, khi h\u1ea7u h\u1ebft c\u00e1c c\u00f4ng ty b\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam ch\u1ec9 t\u1eadp trung v\u00e0o m\u1ed9t l\u0129nh v\u1ef1c. Chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a n\u00e0y gi\u00fap Kosy gi\u1ea3m r\u1ee7i ro chu k\u1ef3 trong ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 t\u1eadn d\u1ee5ng c\u00e1c ch\u00ednh s\u00e1ch \u01b0u \u0111\u00e3i t\u1eeb Ngh\u1ecb quy\u1ebft 55-NQ\/TW v\u1ec1 ph\u00e1t tri\u1ec3n n\u0103ng l\u01b0\u1ee3ng qu\u1ed1c gia.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt v\u00e0 xu h\u01b0\u1edbng gi\u00e1 c\u1ed5 phi\u1ebfu KOS<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u00ecn v\u00e0o bi\u1ec3u \u0111\u1ed3 k\u1ef9 thu\u1eadt,&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;\u0111\u00e3 h\u00ecnh th\u00e0nh m\u00f4 h\u00ecnh &#8220;Cup and Handle&#8221; trong 6 th\u00e1ng qua &#8211; m\u1ed9t m\u00f4 h\u00ecnh k\u1ef9 thu\u1eadt c\u00f3 t\u1ef7 l\u1ec7 th\u00e0nh c\u00f4ng 82,5% theo th\u1ed1ng k\u00ea c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;cho th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam. V\u00f9ng t\u00edch l\u0169y t\u1eeb th\u00e1ng 10\/2024 \u0111\u1ebfn th\u00e1ng 3\/2025 \u0111\u00e3 b\u1ecb ph\u00e1 v\u1ee1 v\u00e0o ng\u00e0y 5\/4\/2025, v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch b\u1ea5t th\u01b0\u1eddng 8,3 tri\u1ec7u c\u1ed5 phi\u1ebfu, g\u1ea5p 2,7 l\u1ea7n trung b\u00ecnh 20 phi\u00ean.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt ch\u00ednh cho KOS hi\u1ec7n t\u1ea1i nh\u01b0 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'>\u0110\u01b0\u1eddng MA20 (19.350 VND) c\u1eaft l\u00ean tr\u00ean MA50 (18.720 VND) v\u00e0o ng\u00e0y 28\/3\/2025, h\u00ecnh th\u00e0nh &#8220;Golden Cross&#8221; &#8211; t\u00edn hi\u1ec7u mua m\u1ea1nh<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>RSI hi\u1ec7n t\u1ea1i \u1edf m\u1ee9c 62,4 &#8211; ch\u01b0a v\u00e0o v\u00f9ng qu\u00e1 mua (&gt;70), v\u1eabn c\u00f2n d\u01b0 \u0111\u1ecba t\u0103ng gi\u00e1<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>MACD = +0,58, tr\u00ean \u0111\u01b0\u1eddng Signal (+0,22) v\u00e0 c\u1eaft l\u00ean tr\u00ean \u0111\u01b0\u1eddng 0 t\u1eeb ng\u00e0y 25\/3\/2025<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>D\u1ea3i Bollinger \u0111ang m\u1edf r\u1ed9ng v\u1edbi gi\u00e1 ph\u00e1 v\u1ee1 d\u1ea3i tr\u00ean, x\u00e1c nh\u1eadn xu h\u01b0\u1edbng t\u0103ng m\u1ea1nh<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh trong 10 ng\u00e0y qua \u0111\u1ea1t 4,15 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean, t\u0103ng 35% so v\u1edbi 3,07 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean trong 30 ng\u00e0y tr\u01b0\u1edbc \u0111\u00f3<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo m\u00f4 h\u00ecnh ph\u00e2n t\u00edch Fibonacci Retracement c\u1ee7a&nbsp;<b>Pocket Option<\/b>, KOS \u0111\u00e3 ph\u00e1 v\u1ee1 m\u1ee9c 61,8% t\u1ea1i 19.850 VND v\u00e0 \u0111ang h\u01b0\u1edbng t\u1edbi m\u1ee9c kh\u00e1ng c\u1ef1 20.500 VND (m\u1ee9c 78,6%). C\u00e1c m\u1ee9c h\u1ed7 tr\u1ee3 v\u00e0 kh\u00e1ng c\u1ef1 quan tr\u1ecdng hi\u1ec7n t\u1ea1i l\u00e0:<\/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>Lo\u1ea1i<\/th>\n<th>M\u1ee9c gi\u00e1 (VND)<\/th>\n<th>\u00dd ngh\u0129a k\u1ef9 thu\u1eadt<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Kh\u00e1ng c\u1ef1 m\u1ea1nh R2<\/td>\n<td>23.800<\/td>\n<td>\u0110\u1ec9nh l\u1ecbch s\u1eed th\u00e1ng 6\/2023<\/td>\n<\/tr>\n<tr>\n<td>Kh\u00e1ng c\u1ef1 R1<\/td>\n<td>20.500<\/td>\n<td>Fibonacci 78,6% + \u0111\u1ec9nh th\u00e1ng 1\/2025<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1 hi\u1ec7n t\u1ea1i<\/td>\n<td>19.450<\/td>\n<td>Tr\u00ean MA20 v\u00e0 MA50<\/td>\n<\/tr>\n<tr>\n<td>H\u1ed7 tr\u1ee3 S1<\/td>\n<td>18.700<\/td>\n<td>MA50 + Fibonacci 50%<\/td>\n<\/tr>\n<tr>\n<td>H\u1ed7 tr\u1ee3 m\u1ea1nh S2<\/td>\n<td>17.200<\/td>\n<td>\u0110\u00e1y c\u1ee7a &#8220;handle&#8221; + Fibonacci 38,2%<\/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'>\u00c1p d\u1ee5ng m\u00f4 h\u00ecnh \u0111\u1ecbnh l\u01b0\u1ee3ng c\u1ee7a&nbsp;<b>Pocket Option<\/b> d\u1ef1a tr\u00ean 62 c\u1ed5 phi\u1ebfu c\u00f3 m\u00f4 h\u00ecnh t\u01b0\u01a1ng t\u1ef1 tr\u00ean HOSE trong giai \u0111o\u1ea1n 2020-2024, x\u00e1c su\u1ea5t KOS t\u0103ng th\u00eam 15-20% t\u1eeb m\u1ee9c hi\u1ec7n t\u1ea1i trong 3 th\u00e1ng t\u1edbi l\u00e0 72,4%, v\u1edbi \u0111i\u1ec1u ki\u1ec7n VN-Index kh\u00f4ng \u0111i\u1ec1u ch\u1ec9nh qu\u00e1 8% t\u1eeb m\u1ee9c hi\u1ec7n t\u1ea1i. C\u00e1c \u0111i\u1ec3m xoay s\u00f3ng Elliott cho th\u1ea5y KOS \u0111ang \u1edf s\u00f3ng 3 c\u1ee7a chu k\u1ef3 5 s\u00f3ng t\u0103ng, th\u01b0\u1eddng l\u00e0 s\u00f3ng m\u1ea1nh nh\u1ea5t v\u00e0 d\u00e0i nh\u1ea5t.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u00e1c y\u1ebfu t\u1ed1 v\u0129 m\u00f4 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u1ed5 phi\u1ebfu KOS<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n tri\u1ec3n v\u1ecdng c\u1ee7a&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>, c\u1ea7n xem x\u00e9t 5 y\u1ebfu t\u1ed1 v\u0129 m\u00f4 ch\u00ednh hi\u1ec7n \u0111ang t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam n\u00f3i chung v\u00e0 Kosy n\u00f3i ri\u00eang.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 c\u00e1c ch\u00ednh s\u00e1ch m\u1edbi n\u0103m 2025<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam \u0111ang b\u01b0\u1edbc v\u00e0o chu k\u1ef3 ph\u1ee5c h\u1ed3i v\u1edbi 4 \u0111\u1ed9ng l\u1ef1c ch\u00ednh: Lu\u1eadt \u0110\u1ea5t \u0111ai 2024 c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 1\/1\/2025, l\u00e3i su\u1ea5t cho vay mua nh\u00e0 gi\u1ea3m xu\u1ed1ng trung b\u00ecnh 8,2% (gi\u1ea3m 2,5 \u0111i\u1ec3m ph\u1ea7n tr\u0103m so v\u1edbi \u0111\u1ea7u n\u0103m 2024), g\u00f3i t\u00edn d\u1ee5ng 120.000 t\u1ef7 VND (t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 4,8 t\u1ef7 USD) v\u1edbi 42% \u0111\u00e3 gi\u1ea3i ng\u00e2n t\u00ednh \u0111\u1ebfn th\u00e1ng 3\/2025, v\u00e0 d\u1ef1 th\u1ea3o Lu\u1eadt Kinh doanh B\u1ea5t \u0111\u1ed9ng s\u1ea3n s\u1eeda \u0111\u1ed5i d\u1ef1 ki\u1ebfn \u0111\u01b0\u1ee3c th\u00f4ng qua v\u00e0o qu\u00fd 2\/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>Ch\u00ednh s\u00e1ch<\/th>\n<th>Th\u1eddi gian<\/th>\n<th>T\u00e1c \u0111\u1ed9ng c\u1ee5 th\u1ec3 \u0111\u1ebfn Kosy<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Lu\u1eadt \u0110\u1ea5t \u0111ai 2024<\/td>\n<td>C\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb 1\/1\/2025<\/td>\n<td>R\u00fat ng\u1eafn th\u1eddi gian ph\u00ea duy\u1ec7t d\u1ef1 \u00e1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n 35%; 3 d\u1ef1 \u00e1n c\u1ee7a Kosy s\u1ebd \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh th\u1ee7 t\u1ee5c ph\u00e1p l\u00fd<\/td>\n<\/tr>\n<tr>\n<td>G\u00f3i t\u00edn d\u1ee5ng 120.000 t\u1ef7 VND<\/td>\n<td>2024-2026<\/td>\n<td>T\u0103ng 28% kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch t\u1ea1i c\u00e1c d\u1ef1 \u00e1n Kosy City v\u00e0 Riverside trong qu\u00fd 1\/2025<\/td>\n<\/tr>\n<tr>\n<td>Gi\u1ea3m l\u00e3i su\u1ea5t cho vay b\u1ea5t \u0111\u1ed9ng s\u1ea3n<\/td>\n<td>T\u1eeb 10,7% \u2192 8,2%<\/td>\n<td>Chi ph\u00ed v\u1ed1n c\u1ee7a Kosy gi\u1ea3m 2,2% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024<\/td>\n<\/tr>\n<tr>\n<td>D\u1ef1 th\u1ea3o Lu\u1eadt Kinh doanh B\u1ea5t \u0111\u1ed9ng s\u1ea3n s\u1eeda \u0111\u1ed5i<\/td>\n<td>D\u1ef1 ki\u1ebfn th\u00f4ng qua qu\u00fd 2\/2025<\/td>\n<td>\u0110\u01a1n gi\u1ea3n h\u00f3a th\u1ee7 t\u1ee5c b\u00e1n h\u00e0ng, gi\u1ea3m chi ph\u00ed ph\u00e1p l\u00fd 15%<\/td>\n<\/tr>\n<tr>\n<td>Ngh\u1ecb quy\u1ebft 55-NQ\/TW<\/td>\n<td>\u0110ang tri\u1ec3n khai<\/td>\n<td>\u0110\u1ea3m b\u1ea3o gi\u00e1 FIT cho d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau trong 20 n\u0103m<\/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\u1eb7c bi\u1ec7t, Ngh\u1ecb \u0111\u1ecbnh 35\/2024\/N\u0110-CP (c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 15\/5\/2024) \u0111\u00e3 \u0111\u01a1n gi\u1ea3n h\u00f3a 21 th\u1ee7 t\u1ee5c h\u00e0nh ch\u00ednh trong ph\u00ea duy\u1ec7t d\u1ef1 \u00e1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n. Theo \u00f4ng Nguy\u1ec5n V\u0103n \u0110\u00ednh, Ph\u00f3 Ch\u1ee7 t\u1ecbch Hi\u1ec7p h\u1ed9i B\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam (VNREA), \u0111i\u1ec1u n\u00e0y s\u1ebd &#8220;gi\u1ea3i ph\u00f3ng&#8221; kho\u1ea3ng 30 d\u1ef1 \u00e1n b\u1ecb \u0111\u00ecnh tr\u1ec7 v\u1edbi t\u1ed5ng v\u1ed1n \u0111\u1ea7u t\u01b0 25 t\u1ef7 USD, bao g\u1ed3m 2 d\u1ef1 \u00e1n c\u1ee7a Kosy t\u1ea1i B\u1eafc Giang v\u00e0 H\u00e0 Nam.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ch\u00ednh s\u00e1ch n\u0103ng l\u01b0\u1ee3ng v\u00e0 tri\u1ec3n v\u1ecdng ng\u00e0nh<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo Quy ho\u1ea1ch ph\u00e1t tri\u1ec3n \u0111i\u1ec7n VIII \u0111\u01b0\u1ee3c Th\u1ee7 t\u01b0\u1edbng Ch\u00ednh ph\u1ee7 ph\u00ea duy\u1ec7t t\u1ea1i Quy\u1ebft \u0111\u1ecbnh 500\/Q\u0110-TTg ng\u00e0y 15\/5\/2023, Vi\u1ec7t Nam \u0111\u1eb7t m\u1ee5c ti\u00eau t\u0103ng t\u1ef7 tr\u1ecdng n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o l\u00ean 30,9-39,2% v\u00e0o n\u0103m 2030 v\u00e0 67,5-71,5% v\u00e0o n\u0103m 2050. \u0110\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau n\u00e0y, Vi\u1ec7t Nam c\u1ea7n b\u1ed5 sung kho\u1ea3ng 20GW \u0111i\u1ec7n gi\u00f3 v\u00e0 18GW \u0111i\u1ec7n m\u1eb7t tr\u1eddi v\u00e0o n\u0103m 2030.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ngh\u1ecb \u0111\u1ecbnh 42\/2024\/N\u0110-CP v\u1ec1 c\u01a1 ch\u1ebf khuy\u1ebfn kh\u00edch ph\u00e1t tri\u1ec3n \u0111i\u1ec7n m\u1eb7t tr\u1eddi v\u00e0 \u0111i\u1ec7n gi\u00f3 (c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 20\/4\/2024) \u0111\u01b0a ra gi\u00e1 FIT m\u1edbi cho \u0111i\u1ec7n gi\u00f3 tr\u00ean b\u1edd l\u00e0 7,5 cent M\u1ef9\/kWh v\u00e0 \u0111i\u1ec7n m\u1eb7t tr\u1eddi l\u00e0 7,2 cent M\u1ef9\/kWh, \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o trong 20 n\u0103m. Kosy l\u00e0 m\u1ed9t trong 27 doanh nghi\u1ec7p \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t cho c\u00e1c d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 v\u1edbi t\u1ed5ng c\u00f4ng su\u1ea5t 7.200MW.<\/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 c\u1ed5 phi\u1ebfu KOS 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'>D\u1ef1a tr\u00ean ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u1ec1&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>,&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u1ec1 xu\u1ea5t 3 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 cho c\u00e1c nh\u00f3m nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau:<\/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'>Chi\u1ebfn l\u01b0\u1ee3c &#8220;L\u01b0\u1edbt s\u00f3ng 30 ng\u00e0y&#8221;: \u00c1p d\u1ee5ng cho nh\u00e0 \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n, t\u1eadn d\u1ee5ng \u0111\u1ed9ng l\u1ef1c t\u1eeb vi\u1ec7c ph\u00e1 v\u1ee1 kh\u00e1ng c\u1ef1. Mua KOS trong kho\u1ea3ng 19.200-19.500 VND, m\u1ee5c ti\u00eau 21.000-21.800 VND (+10-12%), c\u1eaft l\u1ed7 t\u1ea1i 18.500 VND (-3,5%).<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfn l\u01b0\u1ee3c &#8220;Thu ho\u1ea1ch h\u00e0ng qu\u00fd&#8221;: D\u00e0nh cho nh\u00e0 \u0111\u1ea7u t\u01b0 trung h\u1ea1n trong 3-6 th\u00e1ng. T\u00edch l\u0169y KOS trong kho\u1ea3ng 18.700-19.500 VND v\u1edbi 3 l\u1ec7nh mua (40% t\u1ea1i 19.500, 30% n\u1ebfu \u0111i\u1ec1u ch\u1ec9nh v\u1ec1 19.000, 30% n\u1ebfu \u0111\u1ea1t 18.700), \u0111\u1eb7t m\u1ee5c ti\u00eau t\u1ea1i 23.000-24.000 VND (+18-23%), c\u1eaft l\u1ed7 d\u01b0\u1edbi 17.800 VND (-8,7%).<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfn l\u01b0\u1ee3c &#8220;T\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c&#8221;: Ph\u00f9 h\u1ee3p cho nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n. Mua KOS trong kho\u1ea3ng 18.500-20.000 VND, gi\u1eef trong 24-36 th\u00e1ng, k\u1ebft h\u1ee3p thu nh\u1eadp t\u1eeb c\u1ed5 t\u1ee9c (d\u1ef1 ki\u1ebfn 4,5-5,0%\/n\u0103m) v\u00e0 t\u0103ng gi\u00e1 (d\u1ef1 ki\u1ebfn 25-30% trong 2 n\u0103m).<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u00f4 h\u00ecnh \u0111\u1ecbnh l\u01b0\u1ee3ng DCFF (Discounted Cash Flow to Firm) c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;x\u00e1c \u0111\u1ecbnh gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd c\u1ee7a KOS l\u00e0 24.500 VND (t\u0103ng +26% so v\u1edbi gi\u00e1 hi\u1ec7n t\u1ea1i), d\u1ef1a tr\u00ean c\u00e1c gi\u1ea3 \u0111\u1ecbnh: t\u0103ng tr\u01b0\u1edfng doanh thu 22% (2025), 18% (2026), 15% (2027), WACC 10,1%, t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng cu\u1ed1i k\u1ef3 5%.<\/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>Chi\u1ebfn l\u01b0\u1ee3c<\/th>\n<th>V\u00f9ng mua<\/th>\n<th>M\u1ee5c ti\u00eau<\/th>\n<th>C\u1eaft l\u1ed7<\/th>\n<th>Th\u1eddi gian n\u1eafm gi\u1eef<\/th>\n<th>L\u1ee3i nhu\u1eadn k\u1ef3 v\u1ecdng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>L\u01b0\u1edbt s\u00f3ng 30 ng\u00e0y<\/td>\n<td>19.200-19.500 VND<\/td>\n<td>21.000-21.800 VND<\/td>\n<td>18.500 VND (-3,5%)<\/td>\n<td>2-4 tu\u1ea7n<\/td>\n<td>+10-12%<\/td>\n<\/tr>\n<tr>\n<td>Thu ho\u1ea1ch h\u00e0ng qu\u00fd<\/td>\n<td>18.700-19.500 VND<\/td>\n<td>23.000-24.000 VND<\/td>\n<td>17.800 VND (-8,7%)<\/td>\n<td>3-6 th\u00e1ng<\/td>\n<td>+18-23%<\/td>\n<\/tr>\n<tr>\n<td>T\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c<\/td>\n<td>18.500-20.000 VND<\/td>\n<td>27.000-30.000 VND<\/td>\n<td>16.500 VND (-15%)<\/td>\n<td>24-36 th\u00e1ng<\/td>\n<td>+25-30% + c\u1ed5 t\u1ee9c 9-10%<\/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\u1eb7c bi\u1ec7t quan tr\u1ecdng: khi \u0111\u1ea7u t\u01b0 v\u00e0o KOS, nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam n\u00ean xem x\u00e9t c\u00e1c \u0111\u1eb7c th\u00f9 v\u1ec1 thu\u1ebf. Theo quy \u0111\u1ecbnh hi\u1ec7n h\u00e0nh, n\u1ebfu n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu tr\u00ean 2 n\u0103m, nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c mi\u1ec5n thu\u1ebf thu nh\u1eadp c\u00e1 nh\u00e2n \u0111\u1ed1i v\u1edbi c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t (th\u01b0\u1eddng l\u00e0 5%). Ngo\u00e0i ra, chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft ch\u1ecbu thu\u1ebf 0,1% tr\u00ean t\u1ed5ng gi\u00e1 tr\u1ecb giao d\u1ecbch, b\u1ea5t k\u1ec3 l\u00e3i hay l\u1ed7 &#8211; \u0111\u00e2y l\u00e0 m\u1ee9c thu\u1ebf r\u1ea5t th\u1ea5p so v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng kh\u00e1c trong khu v\u1ef1c.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Qu\u1ea3n l\u00fd r\u1ee7i ro khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu KOS<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1eb7c d\u00f9&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;c\u00f3 nhi\u1ec1u tri\u1ec3n v\u1ecdng t\u00edch c\u1ef1c, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n nh\u1eadn di\u1ec7n v\u00e0 qu\u1ea3n l\u00fd 5 r\u1ee7i ro ch\u00ednh 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'>R\u1ee7i ro ch\u00ednh s\u00e1ch: Thay \u0111\u1ed5i \u0111\u1ed9t ng\u1ed9t trong quy \u0111\u1ecbnh v\u1ec1 \u0111\u1ea5t \u0111ai v\u00e0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n, ho\u1eb7c \u0111i\u1ec1u ch\u1ec9nh gi\u00e1 FIT cho n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn k\u1ebf ho\u1ea1ch kinh doanh c\u1ee7a Kosy. Ngh\u1ecb \u0111\u1ecbnh 15\/2022\/N\u0110-CP v\u1ec1 mi\u1ec5n gi\u1ea3m thu\u1ebf \u0111\u1ea5t s\u1ebd h\u1ebft hi\u1ec7u l\u1ef1c v\u00e0o ng\u00e0y 31\/12\/2025, c\u00f3 th\u1ec3 t\u0103ng chi ph\u00ed cho c\u00e1c d\u1ef1 \u00e1n m\u1edbi.<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro t\u00e0i ch\u00ednh: M\u1eb7c d\u00f9 t\u1ef7 l\u1ec7 n\u1ee3 \u0111\u00e3 gi\u1ea3m xu\u1ed1ng 45%, v\u1edbi t\u1ed5ng n\u1ee3 c\u00f2n l\u1ea1i l\u00e0 2.650 t\u1ef7 VND, m\u1ed7i l\u1ea7n t\u0103ng l\u00e3i su\u1ea5t 1% s\u1ebd l\u00e0m t\u0103ng chi ph\u00ed t\u00e0i ch\u00ednh kho\u1ea3ng 26,5 t\u1ef7 VND\/n\u0103m. \u0110\u00e1ng ch\u00fa \u00fd, 35% n\u1ee3 c\u1ee7a Kosy l\u00e0 b\u1eb1ng USD, g\u00e2y ra r\u1ee7i ro t\u1ef7 gi\u00e1 khi Fed d\u1ef1 ki\u1ebfn gi\u1ea3m l\u00e3i su\u1ea5t ch\u1eadm h\u01a1n d\u1ef1 ki\u1ebfn tr\u01b0\u1edbc \u0111\u00f3.<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro tri\u1ec3n khai d\u1ef1 \u00e1n: D\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau \u0111ang g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c v\u1eadn chuy\u1ec3n tuabin t\u1eeb ch\u00e2u \u00c2u, c\u00f3 th\u1ec3 b\u1ecb tr\u00ec ho\u00e3n 2-3 th\u00e1ng so v\u1edbi k\u1ebf ho\u1ea1ch ban \u0111\u1ea7u (Q2\/2025). \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng 12-15% k\u1ebf ho\u1ea1ch doanh thu n\u0103m 2025.<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro th\u1ecb tr\u01b0\u1eddng: KOS c\u00f3 h\u1ec7 s\u1ed1 Beta l\u00e0 1,25, dao \u0111\u1ed9ng m\u1ea1nh h\u01a1n VN-Index 25%. Trong k\u1ecbch b\u1ea3n VN-Index \u0111i\u1ec1u ch\u1ec9nh 10%, KOS c\u00f3 th\u1ec3 gi\u1ea3m kho\u1ea3ng 12,5% theo m\u00f4 h\u00ecnh \u0111\u1ecbnh l\u01b0\u1ee3ng.<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>R\u1ee7i ro \u0111\u1eb7c th\u00f9: Qu\u1ef9 \u0111\u1ea5t c\u1ee7a Kosy t\u1eadp trung \u1edf c\u00e1c t\u1ec9nh v\u1ec7 tinh (kh\u00f4ng ph\u1ea3i TP.HCM hay H\u00e0 N\u1ed9i), do \u0111\u00f3 thanh kho\u1ea3n c\u00f3 th\u1ec3 th\u1ea5p h\u01a1n v\u00e0 th\u1eddi gian b\u00e1n h\u00e0ng d\u00e0i h\u01a1n so v\u1edbi c\u00e1c d\u1ef1 \u00e1n \u1edf th\u00e0nh ph\u1ed1 l\u1edbn.<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 qu\u1ea3n l\u00fd hi\u1ec7u qu\u1ea3 c\u00e1c r\u1ee7i ro tr\u00ean,&nbsp;<b>Pocket Option<\/b>&nbsp;\u0111\u1ec1 xu\u1ea5t 5 bi\u1ec7n ph\u00e1p c\u1ee5 th\u1ec3:<\/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>Bi\u1ec7n ph\u00e1p qu\u1ea3n l\u00fd r\u1ee7i ro<\/th>\n<th>Ph\u01b0\u01a1ng ph\u00e1p th\u1ef1c hi\u1ec7n c\u1ee5 th\u1ec3<\/th>\n<th>M\u1ee9c \u0111\u1ed9 \u01b0u ti\u00ean<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0110a d\u1ea1ng h\u00f3a danh m\u1ee5c<\/td>\n<td>KOS kh\u00f4ng n\u00ean v\u01b0\u1ee3t qu\u00e1 5-7% t\u1ed5ng danh m\u1ee5c; k\u1ebft h\u1ee3p v\u1edbi c\u1ed5 phi\u1ebfu t\u1eeb c\u00e1c ng\u00e0nh kh\u00e1c nh\u01b0 ng\u00e2n h\u00e0ng, b\u00e1n l\u1ebb<\/td>\n<td>Cao<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1eb7t c\u1eaft l\u1ed7 k\u00e9p<\/td>\n<td>C\u1eaft l\u1ed7 c\u1ea3 theo gi\u00e1 (-8% t\u1eeb gi\u00e1 mua) v\u00e0 th\u1eddi gian (n\u1ebfu gi\u00e1 \u0111i ngang h\u01a1n 15 phi\u00ean li\u00ean ti\u1ebfp)<\/td>\n<td>Cao<\/td>\n<\/tr>\n<tr>\n<td>Ph\u00e2n b\u1ed5 v\u1ed1n theo giai \u0111o\u1ea1n<\/td>\n<td>Chia v\u1ed1n th\u00e0nh 3-4 ph\u1ea7n, mua d\u1ea7n trong v\u00f9ng gi\u00e1 m\u1ee5c ti\u00eau theo t\u1ef7 l\u1ec7 40:30:30<\/td>\n<td>Trung b\u00ecnh<\/td>\n<\/tr>\n<tr>\n<td>Theo d\u00f5i th\u00f4ng tin th\u01b0\u1eddng xuy\u00ean<\/td>\n<td>\u0110\u0103ng k\u00fd nh\u1eadn th\u00f4ng b\u00e1o t\u1eeb Kosy; ki\u1ec3m tra b\u00e1o c\u00e1o ph\u00e2n t\u00edch h\u00e0ng tu\u1ea7n t\u1eeb Pocket Option<\/td>\n<td>Trung b\u00ecnh<\/td>\n<\/tr>\n<tr>\n<td>S\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 ph\u00e1i sinh<\/td>\n<td>Mua PUTs tr\u00ean VN30 \u0111\u1ec3 b\u1ea3o v\u1ec7 danh m\u1ee5c khi n\u1eafm gi\u1eef l\u01b0\u1ee3ng l\u1edbn KOS (&gt;100.000 c\u1ed5 phi\u1ebfu)<\/td>\n<td>Th\u1ea5p (ch\u1ec9 d\u00e0nh cho nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p)<\/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 g\u00f3c nh\u00ecn hi\u1ebfm khi \u0111\u01b0\u1ee3c \u0111\u1ec1 c\u1eadp: trong giai \u0111o\u1ea1n gi\u00e1 KOS t\u0103ng m\u1ea1nh (nh\u01b0 hi\u1ec7n t\u1ea1i), nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 c\u00e2n nh\u1eafc chi\u1ebfn l\u01b0\u1ee3c &#8220;trailing stop&#8221;. C\u1ee5 th\u1ec3, thay v\u00ec \u0111\u1eb7t c\u1eaft l\u1ed7 c\u1ed1 \u0111\u1ecbnh, \u0111i\u1ec1u ch\u1ec9nh m\u1ee9c c\u1eaft l\u1ed7 theo gi\u00e1 hi\u1ec7n t\u1ea1i, v\u00ed d\u1ee5 lu\u00f4n duy tr\u00ec kho\u1ea3ng c\u00e1ch 8% d\u01b0\u1edbi gi\u00e1 cao nh\u1ea5t \u0111\u1ea1t \u0111\u01b0\u1ee3c. Chi\u1ebfn l\u01b0\u1ee3c n\u00e0y cho ph\u00e9p &#8220;\u0111\u1ec3 l\u1ee3i nhu\u1eadn ch\u1ea1y&#8221; trong xu h\u01b0\u1edbng t\u0103ng trong khi v\u1eabn b\u1ea3o v\u1ec7 ph\u1ea7n l\u1edbn l\u1ee3i nhu\u1eadn khi xu h\u01b0\u1edbng \u0111\u1ea3o chi\u1ec1u.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>So s\u00e1nh c\u1ed5 phi\u1ebfu KOS v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu c\u00f9ng ng\u00e0nh<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 c\u00f3 c\u00e1i nh\u00ecn kh\u00e1ch quan v\u1ec1 v\u1ecb th\u1ebf c\u1ee7a KOS, ch\u00fang ta s\u1ebd so s\u00e1nh chi ti\u1ebft v\u1edbi 5 c\u1ed5 phi\u1ebfu nh\u1ecf v\u00e0 trung b\u00ecnh trong ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u1ea1i 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>KOS<\/th>\n<th>VIC<\/th>\n<th>NLG<\/th>\n<th>HDG<\/th>\n<th>POW<\/th>\n<th>REE<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Gi\u00e1 10\/04\/2025 (VND)<\/td>\n<td>19.450<\/td>\n<td>45.800<\/td>\n<td>28.200<\/td>\n<td>31.500<\/td>\n<td>14.300<\/td>\n<td>82.600<\/td>\n<\/tr>\n<tr>\n<td>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 VND)<\/td>\n<td>2.950<\/td>\n<td>152.450<\/td>\n<td>8.460<\/td>\n<td>6.300<\/td>\n<td>33.542<\/td>\n<td>25.600<\/td>\n<\/tr>\n<tr>\n<td>P\/E hi\u1ec7n t\u1ea1i<\/td>\n<td>15,2<\/td>\n<td>33,8<\/td>\n<td>18,5<\/td>\n<td>12,8<\/td>\n<td>11,2<\/td>\n<td>14,3<\/td>\n<\/tr>\n<tr>\n<td>P\/E d\u1ef1 ph\u00f3ng 2025<\/td>\n<td>13,6<\/td>\n<td>28,5<\/td>\n<td>17,2<\/td>\n<td>11,5<\/td>\n<td>10,8<\/td>\n<td>13,5<\/td>\n<\/tr>\n<tr>\n<td>P\/B<\/td>\n<td>1,8<\/td>\n<td>3,2<\/td>\n<td>1,6<\/td>\n<td>1,5<\/td>\n<td>1,2<\/td>\n<td>2,1<\/td>\n<\/tr>\n<tr>\n<td>ROE (%)<\/td>\n<td>12,8<\/td>\n<td>9,5<\/td>\n<td>10,2<\/td>\n<td>12,5<\/td>\n<td>10,8<\/td>\n<td>15,2<\/td>\n<\/tr>\n<tr>\n<td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 2024<\/td>\n<td>+15,5%<\/td>\n<td>+12,2%<\/td>\n<td>+8,5%<\/td>\n<td>+18,2%<\/td>\n<td>+5,8%<\/td>\n<td>+16,3%<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c (%)<\/td>\n<td>4,5<\/td>\n<td>1,2<\/td>\n<td>3,8<\/td>\n<td>5,0<\/td>\n<td>6,2<\/td>\n<td>3,5<\/td>\n<\/tr>\n<tr>\n<td>N\u1ee3\/V\u1ed1n ch\u1ee7 s\u1edf h\u1eefu<\/td>\n<td>0,45<\/td>\n<td>0,62<\/td>\n<td>0,38<\/td>\n<td>0,52<\/td>\n<td>0,31<\/td>\n<td>0,48<\/td>\n<\/tr>\n<tr>\n<td>Beta<\/td>\n<td>1,25<\/td>\n<td>1,35<\/td>\n<td>1,18<\/td>\n<td>1,22<\/td>\n<td>0,85<\/td>\n<td>0,92<\/td>\n<\/tr>\n<tr>\n<td>\u0110a d\u1ea1ng h\u00f3a ng\u00e0nh<\/td>\n<td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + N\u0103ng l\u01b0\u1ee3ng<\/td>\n<td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + B\u00e1n l\u1ebb + C\u00f4ng ngh\u1ec7<\/td>\n<td>Ch\u1ec9 B\u1ea5t \u0111\u1ed9ng s\u1ea3n<\/td>\n<td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + Th\u1ee7y \u0111i\u1ec7n nh\u1ecf<\/td>\n<td>Ch\u1ec9 N\u0103ng l\u01b0\u1ee3ng<\/td>\n<td>B\u1ea5t \u0111\u1ed9ng s\u1ea3n + \u0110i\u1ec7n + N\u01b0\u1edbc<\/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'>T\u1eeb b\u1ea3ng so s\u00e1nh tr\u00ean, 5 l\u1ee3i th\u1ebf c\u1ea1nh tranh ch\u00ednh c\u1ee7a KOS n\u1ed5i b\u1eadt:<\/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'>\u0110\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd: P\/E th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi VIC (33,8) v\u00e0 NLG (18,5), t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi REE (14,3) &#8211; m\u1ed9t c\u00f4ng ty c\u00f3 m\u00f4 h\u00ecnh kinh doanh t\u01b0\u01a1ng t\u1ef1 (\u0111a d\u1ea1ng h\u00f3a b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Hi\u1ec7u qu\u1ea3 v\u1ed1n cao: ROE \u0111\u1ea1t 12,8%, ch\u1ec9 th\u1ea5p h\u01a1n REE (15,2%) nh\u01b0ng cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi VIC, NLG v\u00e0 POW<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn thu\u1eadn l\u1ee3i: T\u0103ng 15,5% trong n\u0103m 2024 cao h\u01a1n trung b\u00ecnh ng\u00e0nh (12,8%), ch\u1ec9 th\u1ea5p h\u01a1n HDG (18,2%)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00e2n b\u1eb1ng gi\u1eefa t\u0103ng tr\u01b0\u1edfng v\u00e0 c\u1ed5 t\u1ee9c: L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c 4,5% kh\u00e1 h\u1ea5p d\u1eabn, cao h\u01a1n VIC, NLG v\u00e0 REE<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a b\u1ec1n v\u1eefng: K\u1ebft h\u1ee3p b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (kh\u00f4ng ph\u1ea3i than hay kh\u00ed nh\u01b0 POW), t\u1ea1o ra d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh h\u01a1n so v\u1edbi c\u00e1c c\u00f4ng ty ch\u1ec9 b\u1ea5t \u0111\u1ed9ng s\u1ea3n nh\u01b0 NLG<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n c\u1ee7a&nbsp;<b>Pocket Option<\/b>, KOS hi\u1ec7n \u0111ang b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p kho\u1ea3ng 12-15% so v\u1edbi gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd d\u1ef1a tr\u00ean m\u00f4 h\u00ecnh P\/E t\u01b0\u01a1ng \u0111\u1ed1i, khi so s\u00e1nh v\u1edbi c\u00e1c doanh nghi\u1ec7p c\u00f3 m\u00f4 h\u00ecnh kinh doanh t\u01b0\u01a1ng t\u1ef1 nh\u01b0 HDG v\u00e0 REE. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra c\u01a1 h\u1ed9i h\u1ea5p d\u1eabn cho nh\u00e0 \u0111\u1ea7u t\u01b0 khi th\u1ecb tr\u01b0\u1eddng d\u1ea7n nh\u1eadn ra gi\u00e1 tr\u1ecb th\u1ef1c s\u1ef1 c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a c\u1ee7a c\u00f4ng ty.<\/p>\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 l\u00e0 trong giai \u0111o\u1ea1n 2022-2024, khi th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n g\u1eb7p kh\u00f3 kh\u0103n, c\u00e1c c\u00f4ng ty \u0111a d\u1ea1ng h\u00f3a nh\u01b0 REE v\u00e0 HDG \u0111\u1ec1u v\u01b0\u1ee3t tr\u1ed9i h\u01a1n so v\u1edbi c\u00e1c c\u00f4ng ty ch\u1ec9 b\u1ea5t \u0111\u1ed9ng s\u1ea3n. V\u1edbi t\u1ef7 tr\u1ecdng doanh thu t\u1eeb n\u0103ng l\u01b0\u1ee3ng d\u1ef1 ki\u1ebfn t\u0103ng l\u00ean 42% v\u00e0o n\u0103m 2026, KOS c\u00f3 ti\u1ec1m n\u0103ng theo m\u00f4 h\u00ecnh th\u00e0nh c\u00f4ng c\u1ee7a REE &#8211; m\u1ed9t c\u00f4ng ty \u0111\u00e3 t\u0103ng gi\u00e1 g\u1ea5p ba l\u1ea7n trong 5 n\u0103m qua nh\u1edd chi\u1ebfn l\u01b0\u1ee3c \u0111a d\u1ea1ng h\u00f3a t\u01b0\u01a1ng t\u1ef1.<\/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 v\u00e0 tri\u1ec3n v\u1ecdng t\u01b0\u01a1ng lai<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch to\u00e0n di\u1ec7n c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n, k\u1ef9 thu\u1eadt v\u00e0 v\u0129 m\u00f4,&nbsp;<b>c\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;r\u00f5 r\u00e0ng th\u1ec3 hi\u1ec7n 5 \u0111i\u1ec3m m\u1ea1nh ch\u00ednh khi\u1ebfn n\u00f3 tr\u1edf th\u00e0nh l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 h\u1ea5p d\u1eabn cho nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam trong n\u0103m 2025:<\/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'>M\u00f4 h\u00ecnh kinh doanh c\u00e2n b\u1eb1ng: Kosy \u0111\u00e3 th\u00e0nh c\u00f4ng v\u1edbi chi\u1ebfn l\u01b0\u1ee3c &#8220;hai tr\u1ee5 c\u1ed9t&#8221; &#8211; k\u1ebft h\u1ee3p d\u00f2ng ti\u1ec1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n (l\u1ee3i nhu\u1eadn cao nh\u01b0ng chu k\u1ef3) v\u1edbi n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (l\u1ee3i nhu\u1eadn \u1ed5n \u0111\u1ecbnh d\u00e0i h\u1ea1n)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng: T\u0103ng tr\u01b0\u1edfng doanh thu v\u00e0 l\u1ee3i nhu\u1eadn CAGR \u0111\u1ea1t 18,5% v\u00e0 15,3% trong 3 n\u0103m qua, cao h\u01a1n trung b\u00ecnh ng\u00e0nh (13,2% v\u00e0 11,5%)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn: P\/E hi\u1ec7n t\u1ea1i 15,2x th\u1ea5p h\u01a1n 15% so v\u1edbi trung b\u00ecnh ng\u00e0nh, trong khi ROE cao h\u01a1n trung b\u00ecnh 25%<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>X\u00e1c nh\u1eadn xu h\u01b0\u1edbng k\u1ef9 thu\u1eadt: M\u00f4 h\u00ecnh &#8220;Cup and Handle&#8221; \u0111\u00e3 ho\u00e0n th\u00e0nh v\u1edbi s\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng, x\u00e1c nh\u1eadn xu h\u01b0\u1edbng t\u0103ng m\u1edbi<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ed9ng l\u1ef1c ch\u00ednh s\u00e1ch: H\u01b0\u1edfng l\u1ee3i t\u1eeb hai ng\u00e0nh \u0111\u01b0\u1ee3c ch\u00ednh ph\u1ee7 Vi\u1ec7t Nam \u01b0u ti\u00ean h\u1ed7 tr\u1ee3: b\u1ea5t \u0111\u1ed9ng s\u1ea3n (Lu\u1eadt \u0110\u1ea5t \u0111ai m\u1edbi, g\u00f3i t\u00edn d\u1ee5ng 120.000 t\u1ef7) v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o (Ngh\u1ecb quy\u1ebft 55-NQ\/TW)<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 c\u1ee7a&nbsp;<b>Pocket Option<\/b>&nbsp;d\u1ef1 b\u00e1o 3 k\u1ecbch b\u1ea3n cho KOS trong 12 th\u00e1ng t\u1edbi:<\/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>K\u1ecbch b\u1ea3n<\/th>\n<th>X\u00e1c su\u1ea5t<\/th>\n<th>Gi\u00e1 m\u1ee5c ti\u00eau<\/th>\n<th>T\u0103ng\/Gi\u1ea3m<\/th>\n<th>Gi\u1ea3 \u0111\u1ecbnh ch\u00ednh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u00edch c\u1ef1c<\/td>\n<td>35%<\/td>\n<td>26.500 VND<\/td>\n<td>+36,2%<\/td>\n<td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 25%, P\/E m\u1ee5c ti\u00eau 16x<\/td>\n<\/tr>\n<tr>\n<td>C\u01a1 b\u1ea3n<\/td>\n<td>50%<\/td>\n<td>23.800 VND<\/td>\n<td>+22,4%<\/td>\n<td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 18%, P\/E m\u1ee5c ti\u00eau 15x<\/td>\n<\/tr>\n<tr>\n<td>Th\u1eadn tr\u1ecdng<\/td>\n<td>15%<\/td>\n<td>21.000 VND<\/td>\n<td>+8,0%<\/td>\n<td>T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 12%, P\/E m\u1ee5c ti\u00eau 14x<\/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'>V\u1edbi t\u1ef7 l\u1ec7 r\u1ee7i ro-l\u1ee3i nhu\u1eadn l\u00e0 3,2:1 trong k\u1ecbch b\u1ea3n c\u01a1 b\u1ea3n, KOS hi\u1ec7n l\u00e0 m\u1ed9t trong nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 t\u1ef7 l\u1ec7 t\u1ed1t nh\u1ea5t trong nh\u00f3m v\u1ed1n h\u00f3a nh\u1ecf v\u00e0 trung b\u00ecnh tr\u00ean HOSE, theo \u0111\u00e1nh gi\u00e1 c\u1ee7a&nbsp;<b>Pocket Option<\/b>.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>K\u1ebft lu\u1eadn:&nbsp;<b>C\u1ed5 phi\u1ebfu KOS<\/b>&nbsp;x\u1ee9ng \u0111\u00e1ng \u0111\u01b0\u1ee3c th\u00eam v\u00e0o danh s\u00e1ch theo d\u00f5i v\u00e0 danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam, v\u1edbi c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00f9 h\u1ee3p t\u00f9y thu\u1ed9c v\u00e0o m\u1ee5c ti\u00eau v\u00e0 kh\u1ea9u v\u1ecb r\u1ee7i ro. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 trung v\u00e0 d\u00e0i h\u1ea1n, KOS mang l\u1ea1i c\u01a1 h\u1ed9i s\u1edf h\u1eefu m\u1ed9t doanh nghi\u1ec7p v\u1edbi m\u00f4 h\u00ecnh kinh doanh b\u1ec1n v\u1eefng, \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn v\u00e0 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n t\u1eeb hai ng\u00e0nh \u0111\u01b0\u1ee3c \u01b0u ti\u00ean ph\u00e1t tri\u1ec3n t\u1ea1i Vi\u1ec7t Nam.<\/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 n\u00ean b\u1eaft \u0111\u1ea7u t\u00edch l\u0169y KOS trong kho\u1ea3ng 18.700-19.500 VND, \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 v\u1ed1n theo t\u1ef7 l\u1ec7 40:30:30, v\u00e0 theo d\u00f5i s\u00e1t sao ti\u1ebfn \u0111\u1ed9 c\u1ee7a hai d\u1ef1 \u00e1n ch\u1ee7 ch\u1ed1t: Kosy City (Th\u00e1i Nguy\u00ean) v\u00e0 Nh\u00e0 m\u00e1y \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau &#8211; hai \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng ch\u00ednh cho c\u00f4ng ty trong 12-18 th\u00e1ng t\u1edbi.<\/p>\n<\/div>\n"},"faq":[{"question":"C\u00e1c l\u0129nh v\u1ef1c kinh doanh ch\u00ednh c\u1ee7a C\u00f4ng ty Kosy l\u00e0 g\u00ec?","answer":"C\u00f4ng ty C\u1ed5 ph\u1ea7n Kosy (m\u00e3 ch\u1ee9ng kho\u00e1n KOS) ho\u1ea1t \u0111\u1ed9ng ch\u1ee7 y\u1ebfu trong hai l\u0129nh v\u1ef1c: b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o. Trong l\u0129nh v\u1ef1c b\u1ea5t \u0111\u1ed9ng s\u1ea3n, c\u00f4ng ty ph\u00e1t tri\u1ec3n c\u00e1c d\u1ef1 \u00e1n nh\u00e0 \u1edf v\u00e0 khu \u0111\u00f4 th\u1ecb t\u1ea1i c\u00e1c t\u1ec9nh nh\u01b0 Th\u00e1i Nguy\u00ean, L\u00e0o Cai v\u00e0 H\u00f2a B\u00ecnh, chi\u1ebfm 75% doanh thu n\u0103m 2024. Trong l\u0129nh v\u1ef1c n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, Kosy \u0111ang \u0111\u1ea7u t\u01b0 v\u00e0o d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 90MW t\u1ea1i B\u1ea1c Li\u00eau, nh\u00e0 m\u00e1y th\u1ee7y \u0111i\u1ec7n 34MW t\u1ea1i \u0110i\u1ec7n Bi\u00ean (\u0111i v\u00e0o ho\u1ea1t \u0111\u1ed9ng t\u1eeb th\u00e1ng 12 n\u0103m 2024), v\u00e0 c\u00e1c d\u1ef1 \u00e1n \u0111i\u1ec7n m\u1eb7t tr\u1eddi t\u1ea1i Ninh Thu\u1eadn, chi\u1ebfm 25% doanh thu."},{"question":"Nh\u1eefng \u0111i\u1ec3m m\u1ea1nh ch\u00ednh c\u1ee7a c\u1ed5 phi\u1ebfu KOS so v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu kh\u00e1c trong c\u00f9ng ng\u00e0nh l\u00e0 g\u00ec?","answer":"C\u1ed5 phi\u1ebfu KOS c\u00f3 5 \u0111i\u1ec3m m\u1ea1nh \u0111\u00e1ng ch\u00fa \u00fd: (1) \u0110\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd v\u1edbi P\/E l\u00e0 15.2, th\u1ea5p h\u01a1n 15% so v\u1edbi trung b\u00ecnh ng\u00e0nh; (2) ROE cao 12.8%, cao h\u01a1n 25% so v\u1edbi trung b\u00ecnh ng\u00e0nh; (3) T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 15.5% v\u00e0o n\u0103m 2024, cao h\u01a1n m\u1ee9c trung b\u00ecnh 12.8%; (4) L\u1ee3i t\u1ee9c c\u1ed5 t\u1ee9c h\u1ea5p d\u1eabn 4.5%; (5) Chi\u1ebfn l\u01b0\u1ee3c \"hai tr\u1ee5 c\u1ed9t\" k\u1ebft h\u1ee3p d\u00f2ng ti\u1ec1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u1edbi n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, gi\u00fap c\u00e2n b\u1eb1ng r\u1ee7i ro v\u00e0 t\u1eadn d\u1ee5ng c\u00e1c ch\u00ednh s\u00e1ch \u01b0u \u0111\u00e3i t\u1eeb Ngh\u1ecb quy\u1ebft 55-NQ\/TW v\u00e0 Quy\u1ebft \u0111\u1ecbnh 500\/Q\u0110-TTg trong l\u0129nh v\u1ef1c n\u0103ng l\u01b0\u1ee3ng xanh."},{"question":"Nh\u1eefng r\u1ee7i ro ch\u00ednh khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu KOS l\u00e0 g\u00ec?","answer":"C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean l\u01b0u \u00fd 5 r\u1ee7i ro ch\u00ednh: (1) R\u1ee7i ro ch\u00ednh s\u00e1ch - Ngh\u1ecb \u0111\u1ecbnh 15\/2022\/N\u0110-CP v\u1ec1 mi\u1ec5n thu\u1ebf \u0111\u1ea5t s\u1ebd h\u1ebft h\u1ea1n v\u00e0o ng\u00e0y 31 th\u00e1ng 12 n\u0103m 2025; (2) R\u1ee7i ro t\u00e0i ch\u00ednh - 35% n\u1ee3 c\u1ee7a Kosy l\u00e0 b\u1eb1ng USD, g\u00e2y ra r\u1ee7i ro t\u1ef7 gi\u00e1 khi Fed \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t; (3) R\u1ee7i ro tri\u1ec3n khai - d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau \u0111ang g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c v\u1eadn chuy\u1ec3n tua-bin t\u1eeb ch\u00e2u \u00c2u, c\u00f3 th\u1ec3 b\u1ecb tr\u00ec ho\u00e3n 2-3 th\u00e1ng; (4) R\u1ee7i ro th\u1ecb tr\u01b0\u1eddng - KOS c\u00f3 Beta l\u00e0 1.25, dao \u0111\u1ed9ng nhi\u1ec1u h\u01a1n 25% so v\u1edbi VN-Index; (5) R\u1ee7i ro c\u1ee5 th\u1ec3 - qu\u1ef9 \u0111\u1ea5t t\u1eadp trung \u1edf c\u00e1c t\u1ec9nh v\u1ec7 tinh, c\u00f3 kh\u1ea3 n\u0103ng thanh kho\u1ea3n th\u1ea5p h\u01a1n so v\u1edbi c\u00e1c d\u1ef1 \u00e1n \u1edf c\u00e1c th\u00e0nh ph\u1ed1 l\u1edbn."},{"question":"Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 n\u00e0o ph\u00f9 h\u1ee3p cho c\u1ed5 phi\u1ebfu KOS cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam?","answer":"Pocket Option \u0111\u1ec1 xu\u1ea5t 3 chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3: (1) \"Giao d\u1ecbch xoay v\u00f2ng 30 ng\u00e0y\" cho nh\u00e0 \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n - mua trong kho\u1ea3ng 19,200-19,500 VND, m\u1ee5c ti\u00eau 21,000-21,800 VND (+10-12%), c\u1eaft l\u1ed7 t\u1ea1i 18,500 VND; (2) \"Thu ho\u1ea1ch h\u00e0ng qu\u00fd\" cho nh\u00e0 \u0111\u1ea7u t\u01b0 3-6 th\u00e1ng - t\u00edch l\u0169y trong kho\u1ea3ng 18,700-19,500 VND v\u1edbi 3 l\u1ec7nh mua ph\u00e2n b\u1ed5 40:30:30, m\u1ee5c ti\u00eau 23,000-24,000 VND (+18-23%); (3) \"T\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c\" cho nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n - mua trong kho\u1ea3ng 18,500-20,000 VND, gi\u1eef trong 24-36 th\u00e1ng, h\u01b0\u1edfng c\u1ed5 t\u1ee9c 4.5-5.0%\/n\u0103m v\u00e0 t\u0103ng tr\u01b0\u1edfng gi\u00e1 25-30%. Nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean \u00e1p d\u1ee5ng qu\u1ea3n l\u00fd r\u1ee7i ro v\u1edbi c\u1eaft l\u1ed7 k\u00e9p (c\u1ea3 gi\u00e1 v\u00e0 th\u1eddi gian) v\u00e0 \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c (KOS kh\u00f4ng v\u01b0\u1ee3t qu\u00e1 5-7% t\u1ed5ng danh m\u1ee5c)."},{"question":"Tri\u1ec3n v\u1ecdng kinh doanh n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o c\u1ee7a Kosy \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu?","answer":"Ph\u00e2n kh\u00fac n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng trong tri\u1ec3n v\u1ecdng c\u1ee7a KOS v\u00ec 3 l\u00fd do: (1) Theo Quy ho\u1ea1ch Ph\u00e1t tri\u1ec3n \u0110i\u1ec7n VIII (Quy\u1ebft \u0111\u1ecbnh 500\/Q\u0110-TTg), Vi\u1ec7t Nam \u0111\u1eb7t m\u1ee5c ti\u00eau t\u0103ng t\u1ef7 l\u1ec7 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o l\u00ean 30,9-39,2% v\u00e0o n\u0103m 2030, t\u1ea1o ra c\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 cho Kosy; (2) Ngh\u1ecb \u0111\u1ecbnh 42\/2024\/N\u0110-CP gi\u1edbi thi\u1ec7u gi\u00e1 FIT m\u1edbi cho \u0111i\u1ec7n gi\u00f3 (7,5 cent M\u1ef9\/kWh) v\u00e0 \u0111i\u1ec7n m\u1eb7t tr\u1eddi (7,2 cent M\u1ef9\/kWh) \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o trong 20 n\u0103m, gi\u00fap Kosy \u0111\u1ea3m b\u1ea3o d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh d\u00e0i h\u1ea1n; (3) \u0110\u00f3ng g\u00f3p t\u1eeb n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o d\u1ef1 ki\u1ebfn s\u1ebd t\u0103ng t\u1eeb 25% l\u00ean 42% l\u1ee3i nhu\u1eadn v\u00e0o n\u0103m 2026, gi\u00fap c\u00e2n b\u1eb1ng chu k\u1ef3 kinh doanh b\u1ea5t \u0111\u1ed9ng s\u1ea3n. Nghi\u00ean c\u1ee9u c\u1ee7a Pocket Option cho th\u1ea5y trong giai \u0111o\u1ea1n 2022-2024, c\u00e1c c\u00f4ng ty k\u1ebft h\u1ee3p b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng nh\u01b0 REE v\u00e0 HDG \u0111\u00e3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n c\u00e1c doanh nghi\u1ec7p b\u1ea5t \u0111\u1ed9ng s\u1ea3n thu\u1ea7n t\u00fay, t\u1ea1o ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 cho KOS theo m\u00f4 h\u00ecnh t\u01b0\u01a1ng t\u1ef1."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"C\u00e1c l\u0129nh v\u1ef1c kinh doanh ch\u00ednh c\u1ee7a C\u00f4ng ty Kosy l\u00e0 g\u00ec?","answer":"C\u00f4ng ty C\u1ed5 ph\u1ea7n Kosy (m\u00e3 ch\u1ee9ng kho\u00e1n KOS) ho\u1ea1t \u0111\u1ed9ng ch\u1ee7 y\u1ebfu trong hai l\u0129nh v\u1ef1c: b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o. Trong l\u0129nh v\u1ef1c b\u1ea5t \u0111\u1ed9ng s\u1ea3n, c\u00f4ng ty ph\u00e1t tri\u1ec3n c\u00e1c d\u1ef1 \u00e1n nh\u00e0 \u1edf v\u00e0 khu \u0111\u00f4 th\u1ecb t\u1ea1i c\u00e1c t\u1ec9nh nh\u01b0 Th\u00e1i Nguy\u00ean, L\u00e0o Cai v\u00e0 H\u00f2a B\u00ecnh, chi\u1ebfm 75% doanh thu n\u0103m 2024. Trong l\u0129nh v\u1ef1c n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, Kosy \u0111ang \u0111\u1ea7u t\u01b0 v\u00e0o d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 90MW t\u1ea1i B\u1ea1c Li\u00eau, nh\u00e0 m\u00e1y th\u1ee7y \u0111i\u1ec7n 34MW t\u1ea1i \u0110i\u1ec7n Bi\u00ean (\u0111i v\u00e0o ho\u1ea1t \u0111\u1ed9ng t\u1eeb th\u00e1ng 12 n\u0103m 2024), v\u00e0 c\u00e1c d\u1ef1 \u00e1n \u0111i\u1ec7n m\u1eb7t tr\u1eddi t\u1ea1i Ninh Thu\u1eadn, chi\u1ebfm 25% doanh thu."},{"question":"Nh\u1eefng \u0111i\u1ec3m m\u1ea1nh ch\u00ednh c\u1ee7a c\u1ed5 phi\u1ebfu KOS so v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu kh\u00e1c trong c\u00f9ng ng\u00e0nh l\u00e0 g\u00ec?","answer":"C\u1ed5 phi\u1ebfu KOS c\u00f3 5 \u0111i\u1ec3m m\u1ea1nh \u0111\u00e1ng ch\u00fa \u00fd: (1) \u0110\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd v\u1edbi P\/E l\u00e0 15.2, th\u1ea5p h\u01a1n 15% so v\u1edbi trung b\u00ecnh ng\u00e0nh; (2) ROE cao 12.8%, cao h\u01a1n 25% so v\u1edbi trung b\u00ecnh ng\u00e0nh; (3) T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn 15.5% v\u00e0o n\u0103m 2024, cao h\u01a1n m\u1ee9c trung b\u00ecnh 12.8%; (4) L\u1ee3i t\u1ee9c c\u1ed5 t\u1ee9c h\u1ea5p d\u1eabn 4.5%; (5) Chi\u1ebfn l\u01b0\u1ee3c \"hai tr\u1ee5 c\u1ed9t\" k\u1ebft h\u1ee3p d\u00f2ng ti\u1ec1n b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u1edbi n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, gi\u00fap c\u00e2n b\u1eb1ng r\u1ee7i ro v\u00e0 t\u1eadn d\u1ee5ng c\u00e1c ch\u00ednh s\u00e1ch \u01b0u \u0111\u00e3i t\u1eeb Ngh\u1ecb quy\u1ebft 55-NQ\/TW v\u00e0 Quy\u1ebft \u0111\u1ecbnh 500\/Q\u0110-TTg trong l\u0129nh v\u1ef1c n\u0103ng l\u01b0\u1ee3ng xanh."},{"question":"Nh\u1eefng r\u1ee7i ro ch\u00ednh khi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu KOS l\u00e0 g\u00ec?","answer":"C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean l\u01b0u \u00fd 5 r\u1ee7i ro ch\u00ednh: (1) R\u1ee7i ro ch\u00ednh s\u00e1ch - Ngh\u1ecb \u0111\u1ecbnh 15\/2022\/N\u0110-CP v\u1ec1 mi\u1ec5n thu\u1ebf \u0111\u1ea5t s\u1ebd h\u1ebft h\u1ea1n v\u00e0o ng\u00e0y 31 th\u00e1ng 12 n\u0103m 2025; (2) R\u1ee7i ro t\u00e0i ch\u00ednh - 35% n\u1ee3 c\u1ee7a Kosy l\u00e0 b\u1eb1ng USD, g\u00e2y ra r\u1ee7i ro t\u1ef7 gi\u00e1 khi Fed \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t; (3) R\u1ee7i ro tri\u1ec3n khai - d\u1ef1 \u00e1n \u0111i\u1ec7n gi\u00f3 B\u1ea1c Li\u00eau \u0111ang g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c v\u1eadn chuy\u1ec3n tua-bin t\u1eeb ch\u00e2u \u00c2u, c\u00f3 th\u1ec3 b\u1ecb tr\u00ec ho\u00e3n 2-3 th\u00e1ng; (4) R\u1ee7i ro th\u1ecb tr\u01b0\u1eddng - KOS c\u00f3 Beta l\u00e0 1.25, dao \u0111\u1ed9ng nhi\u1ec1u h\u01a1n 25% so v\u1edbi VN-Index; (5) R\u1ee7i ro c\u1ee5 th\u1ec3 - qu\u1ef9 \u0111\u1ea5t t\u1eadp trung \u1edf c\u00e1c t\u1ec9nh v\u1ec7 tinh, c\u00f3 kh\u1ea3 n\u0103ng thanh kho\u1ea3n th\u1ea5p h\u01a1n so v\u1edbi c\u00e1c d\u1ef1 \u00e1n \u1edf c\u00e1c th\u00e0nh ph\u1ed1 l\u1edbn."},{"question":"Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 n\u00e0o ph\u00f9 h\u1ee3p cho c\u1ed5 phi\u1ebfu KOS cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nam?","answer":"Pocket Option \u0111\u1ec1 xu\u1ea5t 3 chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3: (1) \"Giao d\u1ecbch xoay v\u00f2ng 30 ng\u00e0y\" cho nh\u00e0 \u0111\u1ea7u t\u01b0 ng\u1eafn h\u1ea1n - mua trong kho\u1ea3ng 19,200-19,500 VND, m\u1ee5c ti\u00eau 21,000-21,800 VND (+10-12%), c\u1eaft l\u1ed7 t\u1ea1i 18,500 VND; (2) \"Thu ho\u1ea1ch h\u00e0ng qu\u00fd\" cho nh\u00e0 \u0111\u1ea7u t\u01b0 3-6 th\u00e1ng - t\u00edch l\u0169y trong kho\u1ea3ng 18,700-19,500 VND v\u1edbi 3 l\u1ec7nh mua ph\u00e2n b\u1ed5 40:30:30, m\u1ee5c ti\u00eau 23,000-24,000 VND (+18-23%); (3) \"T\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c\" cho nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n - mua trong kho\u1ea3ng 18,500-20,000 VND, gi\u1eef trong 24-36 th\u00e1ng, h\u01b0\u1edfng c\u1ed5 t\u1ee9c 4.5-5.0%\/n\u0103m v\u00e0 t\u0103ng tr\u01b0\u1edfng gi\u00e1 25-30%. Nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean \u00e1p d\u1ee5ng qu\u1ea3n l\u00fd r\u1ee7i ro v\u1edbi c\u1eaft l\u1ed7 k\u00e9p (c\u1ea3 gi\u00e1 v\u00e0 th\u1eddi gian) v\u00e0 \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c (KOS kh\u00f4ng v\u01b0\u1ee3t qu\u00e1 5-7% t\u1ed5ng danh m\u1ee5c)."},{"question":"Tri\u1ec3n v\u1ecdng kinh doanh n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o c\u1ee7a Kosy \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu?","answer":"Ph\u00e2n kh\u00fac n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng trong tri\u1ec3n v\u1ecdng c\u1ee7a KOS v\u00ec 3 l\u00fd do: (1) Theo Quy ho\u1ea1ch Ph\u00e1t tri\u1ec3n \u0110i\u1ec7n VIII (Quy\u1ebft \u0111\u1ecbnh 500\/Q\u0110-TTg), Vi\u1ec7t Nam \u0111\u1eb7t m\u1ee5c ti\u00eau t\u0103ng t\u1ef7 l\u1ec7 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o l\u00ean 30,9-39,2% v\u00e0o n\u0103m 2030, t\u1ea1o ra c\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 cho Kosy; (2) Ngh\u1ecb \u0111\u1ecbnh 42\/2024\/N\u0110-CP gi\u1edbi thi\u1ec7u gi\u00e1 FIT m\u1edbi cho \u0111i\u1ec7n gi\u00f3 (7,5 cent M\u1ef9\/kWh) v\u00e0 \u0111i\u1ec7n m\u1eb7t tr\u1eddi (7,2 cent M\u1ef9\/kWh) \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o trong 20 n\u0103m, gi\u00fap Kosy \u0111\u1ea3m b\u1ea3o d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh d\u00e0i h\u1ea1n; (3) \u0110\u00f3ng g\u00f3p t\u1eeb n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o d\u1ef1 ki\u1ebfn s\u1ebd t\u0103ng t\u1eeb 25% l\u00ean 42% l\u1ee3i nhu\u1eadn v\u00e0o n\u0103m 2026, gi\u00fap c\u00e2n b\u1eb1ng chu k\u1ef3 kinh doanh b\u1ea5t \u0111\u1ed9ng s\u1ea3n. Nghi\u00ean c\u1ee9u c\u1ee7a Pocket Option cho th\u1ea5y trong giai \u0111o\u1ea1n 2022-2024, c\u00e1c c\u00f4ng ty k\u1ebft h\u1ee3p b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 n\u0103ng l\u01b0\u1ee3ng nh\u01b0 REE v\u00e0 HDG \u0111\u00e3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n c\u00e1c doanh nghi\u1ec7p b\u1ea5t \u0111\u1ed9ng s\u1ea3n thu\u1ea7n t\u00fay, t\u1ea1o ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 cho KOS theo m\u00f4 h\u00ecnh t\u01b0\u01a1ng t\u1ef1."}]}},"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 KOS: Ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u00e0 5 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ti\u1ec1m n\u0103ng v\u00e0o n\u0103m 2025<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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OK"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/markets\/kos-stocks\/#article","isPartOf":{"@id":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/markets\/kos-stocks\/"},"author":{"name":"Tatiana OK","@id":"https:\/\/pocketoption.com\/blog\/vt\/#\/schema\/person\/7021606f7d6abf56a4dfe12af297820d"},"headline":"C\u1ed5 phi\u1ebfu KOS: Ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u00e0 5 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ti\u1ec1m n\u0103ng v\u00e0o n\u0103m 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