After declaring to buy until the stock cannot drop further, the CEO of Vietnam’s leading seafood export company “invested” and announced a Q1 profit increase of 8 times

Nam Viet Joint Stock Company (Navico, code: ANV) announced that CEO Doan Toi purchased 3 million shares of ANV, increasing his total shareholding to 146.6 million and ownership ratio to 54.98%. Mr. Doan Toi described this purchase as an “offensive action” to safeguard the stock price and is willing to buy more if the market declines. In a letter to shareholders, he affirmed that ANV stock is promising and advised not to sell at this time. Two months ago, the stock had increased by 23% compared to its lowest point. The company also reported Q1 earnings with net profits rising from 17 billion to 132 billion VND, the highest since Q2/2022, although revenues saw only a slight increase. It is projected that profits for the first half of the year will be 300 billion VND, and 500 billion VND in 2025 with an expected dividend of 10%. Nam Viet stated that its export orders are currently very abundant.