Hoàn thiện công tác thẩm định dự án đầu tư tại chi nhánh nhct khu công nghiệp hải dương

3506 LV.ThS DHKTQD TRirdNG DAI HOC KINH TE QUOC DAN NGUYEN THI NHU HO A DAI HOC KTQD TT THONG TIN THU VIEN PHONG LUANAN-TVLIEU Hoan thien cong tac thSm dinh du* an d^u tir tai chi nhanh NHCT Khu cong nghiep Hai Duong Chuyen nganh: KINH TE DAU TU’ LUAN VAN THAC SI KINH TE • • NGUOI HUdNG DAN KHOA HOC: TS NGUYEN HONG MINH ' ^06 HA NQI, 2009 MUC • LUC • Noi dung Trang MCJ DAU Danh muc bang bieu r Danh muc tu viet tat Tom tat luan van Sir can thiet cua de tai Muc dich nghien cuu de tai D6i tuong va pham vi nghien cuu de tai Phuong phap nghien cuu Tinh hinh nghien cuu de tai truac day Nhung dong gop cua luan van KSt c£u cua luan van Chuang 1: LY LUAN CHUNG VE ThAm DINH DU" AN dAu TU CUA NGAN HANG THUONG MAI 1.1 ThSm dinh du an dau tu 5 1.1.1 Khai niem \ r ■> \ 1.1.2 Sic can thiet phai tham dinh die an dau tic 1.2 Vai tro cua th am dinh du an dAu tu cua ngan hang thuang mai 1.3 Cac phuomg phap tham dinh 11 1.4 Quy trinh, noi dung tham dinh du an dau tu 15 1.4.1 Quy trinh tham dinh du an dau tu 15 1.4.2 Noi dung tham dinh die an dau tic 17 1.5 Cac nhan t6 anh huorng d£n chat luomg tham dinh du an dSu tu 30 7.5./ Cac nhan to chu quan 31 1.5.2 Cac nhan to khach quan 32 Chuang 2: THUC TRANG CONG TAG THAm DINH DU’ AN DAU TU' TAI CHI NHANH NHCT KHU CONG NGHIEP HAI DUONG 34 2.1 Tong quan ve chi nhanh NHCT Khu cong nghiep Hai Duong 2.1.1 Khai quat chung X ■ 2.1.2 Khai quat ve tinh hinh hoat dong kinh doanh cua chi nhanh NHCT 34 38 Khu cong nghiep Hai Duong 2.2 Thuc trang cong tac tham dinh du an dau tu tai chi nhanh NHCT Khu cong nghiep Hai Duong •i 34 44 x 2.2.1 Quy trinh tham dinh du an dau tu tai chi nhanh NHCT Khu cong 44 nghiep Hai Duong 2.2.2 Noi dung va phuong phap tham dinh 46 2.2.3 Minh hoa noi dung tham dinh du an dau tu tai chi nhanh NHCT 48 Khu cong nghiep Hai Duong 2.3 Nhung k£t qua dat duoc va nhung ton tai han che cua cong tac tham dinh du an dau tu 68 2.3.1 Nhung ket qua dat duoc 70 2.3.2 Nhung ton tai han che 73 2.3.3 Nguyen nhan cua nhung ton tai han che cua cong tac tham dinh tai 75 chi nhanh NHCT Khu cong nghiep Hai Duong Chuong 3: MOT SO GIAI PHAP HOAN THIEN CONG TAC THAM DINH DU" AN DAU TU TAI CHI NHANH NHCT KHU CONG 78 NGHIEP HAI DUONG r •> x 3.1 Dinh huong doi voi cong tac tham dinh du an dau tu cua chi nhanh 78 NHCT Khu cong nghiep Hai Duong 3.1.1 Dinh hudng chung: , 3.1.2 Dinh hudng doi vdi cong tac tham dinh du an: 3.2 Giai phap hoan thien cong tac tham dinh du an dau tu tai chi nhanh 78 80 81 NHCT Khu cong nghiep Hai Duong 3.2.1 Nang cao nhan thuc ve cong tac tham dinh 81 ■i 3.2.2 Nang cao trinh nghiep vu cua doi ngu can bo tham dinh 81 3.2.3 Hoan thien quy trinh tham dinh 84 3.2.4 Hoan thien noi dung va phuang phap tham dinh 84 3.2.5 Tang cudng thong tin phuc vu cong tac tham dinh 3.2.6 Tang cudng ho trq ky thuat cho cong tac tham dinh du an dau tu 3.2.7 Tang cudng giup va hoc tap kinh nghiem cua cac TCTD 88 90 91 linh vuc tham dinh du an dau tu 92 3.3 Mot so kidn nghi 3.3.1 Kien nghi vdi nha nudc, ngan hang nha nudc 92 3.3.2 Kien nghi doi vdi NHCT Viet Nam 95 KET LUAN Danh muc tai lieu tham khao Phu luc 98 DANH MUC TU* VIET TAT CBTD : Can bo tham dinh CBTD : Can bo tin dung CPK : Chi phi khac DADT : Du an dau tu GPMB : Giai phdng mat bang HDQT : Hoi dong quan tri KCN : Khu cong nghiep NCVD : No c6 v£n de NHCT : Ngan hang Cong Thuung NHNN : Ngan hang Nha nuoc NHTM : Ngan hang thuung mai QLDA : Quan ly du an QLRR : Quan ly rui ro TCKT : To chuc kinh te TCTD : To chuc tin dung TVDT : Tu van dau tu UBND : Uy ban nhan dan USD : Do la My VND : Viet nam dong DANH MUC BANG BIEU Ten bang bieu Trang Bang 2.1: Co cau ngudn v6n cua Chi nhanh NHCT Khu cong nghiep Hai 39 Duong giai doan 2006-2008 Bang 2.2: Tinh hinh cho vay cua NHCT Khu cong nghiep Hai Duong qua cac 40 nam 2006-2008 Bang 2.3: Doanh so hoat dong dich vu cua NHCT KCN Hai Duong 42 Bang 2.4: Tinh hinh ket qua hoat dong kinh doanh tai chi nhanh NHCT KCN 43 Hai Duong (2006 - 2008) Bang 2.5: Phan bo dien ti'ch dau tu theo tung hang muc cong trinh - DADT xay dung kinh doanh ket cau tang KCN Gam Dien - Luong Dien 58 Bang 2.6: Ke hoach giai ngan von - DADT xay dung kinh doanh ket cau tang 61 KCN cam Dien - Luong Dien Bang 2.7: So tien du phong du kien giai ngan - DADT xay dung kinh doanh ket cau tang KCN cam Dien - Luong Dien r Bang 2.8: Tien lap kin mat bang du kien - DADT xay dung kinh doanh ket r \ r “ - • •- 61 y cau tang KCN cam Dien - Luong Dien 62 Bang 2.9: Tien huy dong von du kien - DADT xay dung kinh doanh ket c£u tang KCN cam Dien - Luong Dien 63 Bang 2.10: Ke hoach tra no gOc - DADT xay dung kinh doanh ket cau tang KCN cam Dien - Luong Dien 64 Bang 2.11 Bang co cau tin dung trung va dai han 70 Bang 2.12 Bang co cau so luong du an dau tu duoc tham dinh 71 Bang 2.13 : Bang co cau du no cho vay duoc tham dinh 71 Bang 2.14: Bang co cau no qua han, no xau 72 TRU’ONG DAI HQC KINH TE QUOC DAN *** _ NGUYEN THI NHU HOA Hoan thien cong tac tham dinh du an dau tn tai chi nhanh NHCT Khu cong nghiep Hai Duo’ng Chuyen nganh: KINH TE DAU TU' TOM TAT LUAN VAN THAC SI KINH TE • • HA NQI, 2009 1 Sy can thiAt cua de tai ThAm dinh cap tin dung co thAm dinh dy an dau tu co y nghia quan trong hoat dong cua cac NHTM Tren thyc te, ngan hang nao coi cong tac thAm dinh, ngan hang se hoat dong hieu qua, han che duoc rui ro tin dung Nhan thuc duoc vai tro cua cong tac thAm dinh dy an dAu tu tai ngAn hang va tu thyc tien lam cong tac thAm dinh cho vay tai chi nhanh NHCT Khu cong nghiep Hai Duong, toi lya chon dA tai: "Hoan thien cong tac tham dinh du an dau tu tai chi nhanh NHCT Khu cong nghiep Hdi Duong" lam de tai nghien cuu cho luan van cua minh Muc dich nghien cuu de tai: - Gop phAn he thong hoa, lam ro them ly luan vA thAm dinh DADT tai NHTM - PhAn tich, danh gia thyc trang cong tac thAm dinh DADT tai chi nhanh NHCT Khu cong nghiep Hai Duong - DA xuAt mot so giai phap hoan thien cong tac thAm dinh DADT tai chi nhanh NHCT Khu cong nghiep Hai Duong Doi tuong va pham vi nghien cuu de tai: - Ddi tuyng nghien cuu: cong tac thAm dinh DADT tai chi nhanh NHCT Khu cong nghiep Hai Duong - Pham vi nghien cuu: dA tai chi nghien cuu cong tac thAm dinh DADT doi vdi cac DADT vay vOn tren goc cAn bo lam cong tac thAm dinh doc lap tai chi nhanh NHCT Khu cong nghiep Hai Duong, tu chi nhanh trd chi nhanh cAp I (nam 2006) den Phuong phap nghien cuu: Phuong phap thOng ke va phan tich tong hop, phuong phap truu tuong hoa khoa hoc, phuong phap logic, lich su, phuong phap thong ke, phuong phap phan tich nhay, va cac phuong phap thu thap, xu ly va phan tich thong tin khac Nhunn donn ggp cua I uun vvn: - He thong hoa nhung van de ly luan ve thAm dinh DADT tai cac NHTM ii - Phan tich va danh gia thuc trang cong tac thim dinh DADT tai chi nhanh NHCT Khu cong nghiep Hai Duong - D£ xudt cac giai phap, kien nghi nham hoan thien cong tac thim dinh DADT tai chi nhanh NHCT Khu cong nghiep Hai Duong Ket cau cua luan van: Ngoai loi mo dau, ket luan, muc luc, danh muc tu viet tat, danh muc tai lieu tham khao, luan van duoc ket cau chuong: Chuong 1: Ly luan chung ve tham dinh DADT cua NHTM Chuong 2: Thuc trang cong tac tham dinh DADT tai chi nhanh NHCT Khu cong nghiep Hai Duong Chuong 3: Mot so giai phap hoan thien cong tac thim dinh DADT tai chi nhanh NHCT Khu cong nghiep Hai Duong Chuong 1: LY LUAN CHUNG VE THAM DINH DADT CUA NHTM 1.1 Tham dinh du an dUu tu 1.1.1 Khai niem Tham dinh DADT cua NHTM la viec ngan hang to chuc xem xet mot each khach quan, khoa hoc va toan dien cac noi dung ca ban anh huang tryc tiep den tinh kha thi cua dy an dau tu de quyet dinh tai try von cho dy an 1.1.2 Sy can thi£tphai tham dinh dy an d&u tu: Thu nhat la de dam bao tinh khach quan cua du an Thu hai la de giam thiSu rui ro cho ngan hang Thu ba la de sua chua nhung khiem khuyet qua trinh soan thao du an Thu tu la de xac dinh cac ben lien quan va su phoi hop giua cac ben lien quan viec thuc hien du an Thu nam la de ngan hang xac dinh mot cach chinh xac cac tham so co ban lien quan den qua trinh dau tu va van hanh cua du an 1.2 Vai t rd c ua thhm dinn dd an ddu tu c ua nntn hhnn thuunn tnai Mot la, tham dinh du an dau tu giup ngan hang, don vi tai tro von cho du an danh gia mot cach chinh xac tinh kha thi cua du an xin vay von BANG TINH CHI PHI HOAT DQNG KCN Chi tieu Nam 2039 Nam 2040 Nam 2041 Nam 2042 Nam 2043 Nam 2044 Nam 2045 Nam 2046 Nam 2047 Nam 2048 Nam 2049 Cong suat khai thac KCN Chi phi cho he thong cap nuoc 17 18 18 19 20 20 21 21 22 23 23 2,105 2,168 2,233 2,300 2,369 2,440 2,514 2,589 2,667 2,747 2,829 Chi phi hoa chat cho xu ly nuoc thai 1681.50 1731.94 1783.90 1,837.42 1,892.54 1,949.31 2,007.79 2,068.03 2,130.07 2,193.97 2,259.79 Chi phi dieu hanh KCN 1,534.66 1,580.70 1628.12 1,676.97 1727.27 1779.09 1832.47 1887.44 1,944.06 2,002.38 2,062.46 916 943 972 1,001 1,031 1,062 1,094 1,127 1,160 1,195 1,231 6,254.54 6,442.18 6,635.45 6,834.51 7,039.54 7,250.73 7,468.25 7,692.30 7,923.07 8,160.76 8,405.58 568.59 585.65 603.22 621.32 639.96 659.16 678.93 699.30 720.28 741.89 764.14 Nuoc SH cua TT DH Nuoc tuoi cay rua dudng Nuoc cho khu ky thuat Chi phi cho he thong cap dien Cap dien cho khu dieu hanh Dien chieu sang Cay xanh Dien cho khu ky thuat Quy luong (15 ngudi*3tr/thang) Bao hiem xa hoi y te Chi phi quan ly Duy tu' bao dudng xay dung tano Chi phi quang cao tiep thi Tong chi phi hoat dong hang nam co chi so tang gia la 3%/nSm Trong thue GTGT dau vao BANG TINH CHI PHI HOAT DQNG KCN Chi tieu NSm 2050 Nam 2051 Nam 2052 Nam 2053 Nam 2054 Nam 2055 Nam 2056 Nam 2057 Nam 2058 Cong suat khai thac KCN Chi phi cho he thdng cap nuoc 24 25 26 26 27 28 29 30 30 2,914 3,001 3,091 3,184 3,280 3,378 3,479 3,584 3,691 Chi phi hoa chat cho xu ly nudc thai 2,327.58 2,397.41 2,469.33 2,543.41 2,619.72 2,698.31 2,779.26 2,862.63 2,948.51 Chi phi didu hanh KCN 2,124.33 2,188.06 2,253.70 2,321.31 2,390.95 2,462.68 2,536.56 2,612.66 2,691.04 1,268 1,306 1,345 1,386 1,427 1,470 1,514 1,559 1,606 8,657.75 8,917.48 9,185.01 9,460.56 9,744.38 10,036.71 10,337.81 10,647.94 10,967.38 787.07 810.68 835.00 912.43 939.80 967.99 997.03 Nudc SH cua TT DH Nudc tudi cay rua dudng Nudc cho khu ky thuat Chi phi cho he thdng cSp dien Cap dien cho khu dieu hanh Dien chidu sang Cay xanh Dien cho khu ky thuat Quy luong (15 ngudi*3tr/thang) Bao hiem xa hoi y te Chi phi quan ly Duy tu bao dudng xay dung tana Chi phi quang cao tiep thi Tdng chi phi hoat dong hang nam co chi sd tdng gia la 3%/ndm Trong dd thue GTGT dau vao 860.05 885.85 BANG TINH SAN LUQNG DOANH THU Sd TT Chi tieu I Cong suit khai thac KCN Tidn lip diy KCN Ty le cho thue hang nftm Luy ke dien tlch cho thue hang nftm II Don vi tinh Don gia Thanh Khoi Nam 2011 luong/nam tien (trdg) (dg) 124.32 Ty le dat hang nam Doanh thu cho thue KCN Thu tien dit trung binh cho ca du an la: 1.2 usd/m2/nam trdg Thu phi str dung nude thai d/m3/n 1,420,000 Thu phi an ninh hd tro va cac khoan thu khac lit Iusd/m2/n trdg/ha/n usd/m2/n trdg/ha/n (he so truot gia tinh nam/lan) Tdng doanh thu hang ndm Trong dd thud GTGT dau III Doanh thu cho thue mat bang dat dich vu trdg/ha/n IV Tdng doanh thu cua DA % 6,500 1,750 5,250 50,000 Nam 2013 Nam 2014 Nam 2015 Nam 2016 20.00 25.00 25.00 25.00 25.00 4.32 16.09% 20.11% 20.11% 20.11% 20.11% 3.47% 20.00 45.00 70.00 95.00 120.00 124.32 16% 36% 56% 76% 97% 100% 10,500 9,230 210,000 1,485 262,500 3,341 262,500 5,197 262,500 7,053 262,500 8,909 45,360 9,230 17.50 52.50 350 1,050 788 2,363 1,225 3,675 1,663 4,988 2,100 6,300 2,176 6,527 212,886 19,353 268,992 24,454 272,598 24,782 276,204 25,109 279,810 25,437 1.00 63,293 5,754 1,112 2,501 3,891 5,280 6,670 6,910 213,998 271,493 276,489 281,484 286,480 70,203 nam/lan 13.82 Nam 2012 500 BANG TINH SAN LUQNG DOANH THU Nam 2017 Nam 2018 Nam 2019 Nam 2020 Nam 2021 Nam 2022 Nam 2023 Nam 2024 Nam 2025 10,615 10,615 10,615 10,615 11,999 11,999 11,999 11,999 11,999 13,384 13,384 2,502 7,506 2,502 7,506 2,502 7,506 2,502 7,506 2,828 8,485 2,828 8,485 2,828 8,485 2,828 8,485 2,828 8,485 3,155 9,464 3,155 9,464 (he so truot gia tinh nam/lin) 1.15 Tong doanh thu hang nam 20,623 Trong thue GTGT dau 1,875 1.15 20,623 1,875 1.15 20,623 1,875 1.15 20,623 1,875 1.30 23,313 2,119 1.30 23,313 2,119 1.30 23,313 2,119 1.30 23,313 2,119 1.30 23,313 2,119 1.45 26,003 2,364 1.45 26,003 2,364 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 27,533 27,533 27,533 27,533 30,223 30,223 30,223 30,223 30,223 32,913 32,913 Chi tieu Nam 2026 Nam 2027 Cong suat khai thac KCN TiGn lap diy KCN Ty le cho thue hang nam Luy kG dien tich cho thue hang nam Ty le dat hang nam Doanh thu cho thue KCN Thu tiGn dit trung blnh cho ca du an la: 1.2 usd/m2/nam Thu phi su dung nuoc thai Thu phi an ninh hd tro va cac khoan thu khac la Iusd/m2/n usd/m2/n Doanh thu cho thue mat bang dat dich vu Tong doanh thu cua DA BANG TINH SAN LtfQNG DOANH THU Chi tieu Nim 2028 Nim 2029 Nim2030 Nim2031 Nim 2032 Nim 2033 Nim 2034 Nim 2035 Nim 2036 Nim 2037 Cong suit khai thdc KCN Tien lap day KCN Ty le cho thue hang nim Luy ke dien tich cho thue hang nim Ty le dat hang nim Doanh thu cho thue KCN Thu tidn dit trung binh cho ca du an la: 1.2 usd/m2/nim Thu phi su dung nudc thai Thu phi an ninh hd frp va cac khoan thu khac la 0.1 usd/m2/n usd/m2/n 13,384 13,384 13,384 14,768 14,768 14,768 14,768 14,768 17,076 17,076 3,155 9,464 3,155 9,464 3,155 9,464 3,481 10,443 3,481 10,443 3,481 10,443 3,481 10,443 3,481 10,443 4,025 12,075 4,025 12,075 (he sd truot gia tinh nim/lan) Tong doanh thu hang nam Trong dd thue GTGT dau 1.45 26,003 2,364 1.45 26,003 2,364 1.45 26,003 2,364 1.60 28,693 2,608 1.60 28,693 2,608 1.60 28,693 2,608 1.60 28,693 2,608 1.60 28,693 2,608 1.85 33,177 3,016 1.85 33,177 3,016 Doanh thu cho thue mat bang dat dich vu * 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 32,913 32,913 * 32,913 35,603 35,603 35,603 35,603 35,603 40,087 40,087 Tong doanh thu cua DA BANG TINH SAN LUQNG DOANH THU Chi tieu Nam 2038 Nam 2039 Nam 2040 Nam 2041 Nam 2042 Nam 2043 Nam 2044 Nam 2045 Nam 2046 Nam 2047 Cong suat khai thac KCN Tren lap day KCN Ty le cho thue hang nam Luy ke dien ti'ch cho thue hang nam Ty le dat hang nam Doanh thu cho thue KCN Thu tidn dat trung binh cho ca du an la: 1.2 usd/m2/nam Thu phi su dung nuoc thai Thu phi an ninh ho tro va cac khoan thu khac la 0.1usd^m2/n usd/m2/n 17,076 17,076 17,076 18,460 18,460 18,460 18,460 18,460 19,845 19,845 4,025 12,075 4,025 12,075 4,025 12,075 4,351 13,054 4,351 13,054 4,351 13,054 4,351 13,054 4,351 13,054 4,678 14,033 4,678 14,033 (he so truot gia tinh nam/lan) Tdng doanh thu hang nam Trong d6 thue GTGT dau 1.85 33,177 3,016 1.85 33,177 3,016 1.85 33,177 3,016 2.00 35,867 3,261 2.00 35,867 3,261 2.00 35,867 3,261 2.00 35,867 3,261 2.00 35,867 3,261 2.15 38,557 3,505 2.15 38,557 3,505 Doanh thu cho thue mat bang dat dich vu 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 40,087 40,087 40,087 42,777 42,777 42,777 42,777 42,777 45,467 45,467 Tong doanh thu cua DA BANG TINH SAN LUONG DOANH THU Chi tieu Nam 2048 Nam 2049 Nam 2050 Nam 2051 Nam 2052 Nam 2053 Nam 2054 Nam 2055 Nam 2056 Nam 2057 Cong suat khai thac KCN Tien lap day KCN Ty le cho thue hang nam Luy ke dien ti'ch cho thue hang nam Ty le dat hang nam Doanh thu cho thue KCN Thu tien dat trung binh cho ca du an la: 1.2 usd/m2/n3m Thu phi su dung nuoc thai Thu phi an ninh ho fro va cac khoan thu khac la 0.1usd/m2/n usd/m2/n 19,845 19,845 19,845 21,229 21,229 21,229 21,229 21,229 22,614 22,614 4,678 14,033 4,678 14,033 4,678 14,033 5,004 15,012 5,004 15,012 5,004 15,012 5,004 15,012 5,004 15,012 5,330 15,991 5,330 15,991 (he so truot gia tinh ndm/lan) Tong doanh thu hang nam Trong dd thue GTGT dau 2.15 38,557 3,505 2.15 38,557 3,505 2.15 38,557 3,505 2.30 41,247 3,750 2.30 41,247 3,750 2.30 41,247 3,750 2.30 41,247 3,750 2.30 41,247 3,750 2.45 43,937 3,994 2.45 43,937 3,994 Doanh thu cho thue mat bang dat dich vu 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 6,910 45,467 45,467 45,467 48,157 48,157 48,157 48,157 48,157 50,847 50,847 Tong doanh thu cua DA BAO CAO KET QUA HOAT £>QNG SXKD SoTT Khoan muc Nam2011 213,998 Doanh thu Chi phi hoat dong sau thuc Khfiu hao Loi nhuan trade thue va lai vav L3i vay TDH Nim 2012 Nam 2013 Nam 2014 Nam 2015 Nam 2016 Nam 2017 Nam 2018 Nam 2019 Nam 2020 Nam 2021 Nam 2022 Nam 2023 271,493 276,489 281,484 286,480 70,203 27,533 27,533 27,533 27,533 30,223 30,223 30,223 4,088 3,975 4,124 4,105 4,086 3,169 3,264 3,362 3,463 3,567 3,674 3,784 3,898 57,671 57,671 57,671 57,671 57,671 57,671 57,671 57,671 50,249 50,249 35,358 35,358 35,358 152,238 209,847 214,693 219,708 224,723 9,363 (33,402) (33,500) (26,178) (26,282) (8,808) (8,919) (9,032) 37,983 67,730 52,811 33,062 12,182 145 Loi nhuan trade thue 114,255 142,117 161,883 186,646 212,541 9,218 (33,402) (33,500) (26,178) (26,282) (8,808) (8,919) (9,032) Loi nhuan chiu thue 114,255 142,117 161,883 186,646 212,541 9,218 (33,402) (33,500) (26,178) (26,282) (8,808) (8,919) (9,032) Thue TNDN Leri nhuan sau thue 114,255 142,117 161,883 186,646 212,541 9,218 (33,402) (33,500) (26,178) (26,282) (8,808) (8,919) (9,032) 10 Chia cd tuc 11 Loi nhuan tich luy 114,255 256,372 418,254 604,901 817,442 826,659 793,257 759,757 733,579 707,297 698,488 689,570 680,537 12 Ddng tien hang nam 171,926 199,788 219,554 244,318 270,212 66,889 24,269 24,171 24,070 23,967 26,550 26,439 26,326 209,910 267,518 272,365 277,379 282,394 67,034 24,269 24,171 24,070 23,967 26,550 26,439 26,326 LN trade thue/ DT 0.534 0.523 0.585 0.663 0.742 0.131 (1.213) (1.217) (0.951) (0.955) (0.291) (0.295) (0.299) LN sau thud/ vdn tu cd 1.564 1.946 2.216 2.555 2.910 0.126 (0.457) (0.459) (0.358) (0.360) (0.121) (0.122) (0.124) LN sau thud/ tdng vdn ddu tu 0.304 0.378 0.430 0.496 0.565 0.024 (0.089) (0.089) (0.070) (0.070) (0.023) (0.024) (0.024) Luy kd ddng tien Hien gid ddng tien Luy ke hien gia dong tidn 13 Tinh toan cac chi so BAO CAO KET QUA HOAT DQNG SXKD Khoan muc Nam 2024 Nam 2025 Nam 2026 Nam 2027 Nam 2028 Nam 2029 Nam 2030 Nam 2031 Nam 2032 Nam 2033 Nam 2034 Nam 2035 Nam 2036 Doanh thu Chi phi hoat dong sau Lil lie Khau hao Lgi nhuan trudc thue va lai vav_ LSi vay TDH 30,223 30,223 32,913 32,913 32,913 32,913 32,9)3 35,603 35,603 35,603 35,603 35,603 40,087 4,135 4,259 4,387 4,518 4,654 4,794 4,937 5,086 5,238 5,395 5,557 5,724 4,015 35,358 35,358 35,358 35,358 35,358 35,358 35,358 (9,270) (6,704) (6,831) (6,963) (7,098) (7,238) 30,666 30,518 30,365 30,208 30,046 34,363 (9,149) Loi nhuan trudc thue (9,149) (9,270) (6,704) (6,831) (6,963) (7,098) (7,238) 30,666 30,518 30,365 30,208 30,046 34,363 Lgi nhuan chiu thue (9,149) (9,270) (6,704) (6,831) (6,963) (7,098) (7,238) 30,666 30,518 30,365 30,208 30,046 34,363 7,667 7,629 7,591 7,552 7,512 8,591 Thue TNDN (7,098) (7,238) 23,000 22,888 22,774 22,656 22,535 25,772 641,621 634,523 627,285 650,284 673,173 695,947 718,603 741,137 766,910 28,527 28,395 28,259 28,120 23,000 22,888 22,774 22,656 22,535 25,772 28,654 28,527 28,395 28,259 28,120 23,000 22,888 22,774 22,656 22,535 25,772 (0.307) (0.204) (0.208) (0.212) (0.216) (0.220) 0.861 0.857 0.853 0.848 0.844 0.857 (0.125) (0.127) (0.092) (0.094) (0.095) (0.097) (0.099) 0.315 0.313 0.312 0.310 0.309 0.353 (0.024) (0.025) (0.018) (0.018) (0.018) (0.019) (0.019) 0.061 0.061 0.061 0.060 0.060 0.068 (9,149) (9,270) (6,704) (6,831) 671,388 662,119 655,415 648,584 26,209 26,088 28,654 26,209 26,088 LN trudc thue/ DT (0.303) LN sau thue/ vdn tu cd LN sau thue/ tdng vdn dau tu Lgi nhuan sau thue (6,963) Chia cd tuc Lgi nhuan tich luy Ddng tien hdng nam Luy ke ddng tien Hien gia ddng tidn Luy ke hien gia ddng tien Tinh toan cac chi so BAO CAO KET QUA HOAT DQNG SXKD Khoan muc Doanh thu Chi phi hoat dong sau thug Khau hao Loi nhuan truoc thue va l3i vav L3i vay TDH NSm 2037 Nam 2038 Nam 2039 Nam 2040 Nam 2041 Nam 2042 Nam 2043 Nam 2044 Nam 2045 Nam 2046 Nam 2047 Nam 2048 Nam 2049 40,087 40,087 40,087 40,087 42,777 42,777 42,777 42,777 42,777 45,467 45,467 45,467 45,467 5,896 6,072 6,255 6,442 6,635 6,835 7,040 7,251 7,468 7,692 7,923 8,161 8,406 34,191 34,014 33,832 33,645 36,141 35,942 35,737 35,526 35,309 37,775 37,544 37,306 37,061 Loi nhuan truoc thug 34,191 34,014 33,832 33,645 36,141 35,942 35,737 35,526 35,309 37,775 37,544 37,306 37,061 Loi nhuan chiu thue 34,191 34,014 33,832 33,645 36,141 35,942 35,737 35,526 35,309 37,775 37,544 37,306 37,061 8,548 8,504 8,458 8,411 9,035 8,986 8,934 8,882 8,827 9,444 9,386 9,327 9,265 25,643 25,511 25,374 25,233 27,106 26,957 26,803 26,645 26,481 28,331 28,158 27,980 27,796 792,553 818,064 843,438 868,672 895,778 922,734 949,537 976,182 1002,663 1030,994 1,059,152 1087,131 1114,927 25,643 25,511 25,374 25,233 27,106 26,957 26,803 26,645 26,481 28,331 28,158 27,980 27,796 25,643 25,511 25,374 25,233 27,106 26,957 26,803 26,645 26,481 28,331 28,158 27,980 27,796 LN truoc thud/ DT 0.853 0.849 0.844 0.839 0.845 0.840 0.835 0.830 0.825 0.831 0.826 0.821 0.815 LN sau thug/ vdn tu co 0.351 0.349 0.347 0.345 0.371 0.369 0.367 0.365 0.363 0.388 0.386 0.383 0.381 LN sau thug/ tong von dau tu 0.068 0.068 0.067 0.067 0.072 0.072 0.071 0.071 0.070 0.075 0.075 0.074 0.074 Thu6 TNDN Loi nhuan sau thue Chia cd tuc Lgi nhuan tich luy Ddng tien hang nam Luy ke dong tien Hien gia dong tien Luy ke hien gia dong tien Tinh toan cac chi so BAO CAO KET QUA HOAT DQNG SXKD Khoan muc Doanh thu Chi phi hoat dong sau thue Khdu hao Loi nhuan trade thue va lai vav L3i vay TDH Nim 2050 NSm2051 Nam 2052 Nam 2053 Nam 2054 Nam 2055 Nam 2056 Nam 2057 45,467 48,157 48,157 48,157 48,157 48,157 50,847 50,847 8,658 8,917 9,185 9,461 9,744 10,037 10,338 10,648 36,809 39,239 38,972 38,696 38,412 38,120 40,509 40,199 Loi nhuan trade thud 36,809 39,239 38,972 38,696 38,412 38,120 40,509 40,199 Leri nhuan chiu thue 36,809 39,239 38,972 38,696 38,412 38,120 40,509 40,199 Thue TNDN 9,202 9,810 9,743 9,674 9,603 9,530 10,127 10,050 27,607 29,430 29,229 29,022 28,809 28,590 30,382 30,149 1,142,534 1,171,964 1,201,193 1,230,215 1,259,024 1,287,614 1,317,996 1,348,145 27,607 29,430 29,229 29,022 28,809 28,590 30,382 30,149 27,607 29,430 29,229 29,022 28,809 28,590 30,382 30,149 LN trade thud/ DT 0.810 0.815 0.809 0.804 0.798 0.792 0.797 0.791 LN sau thud/ vdn tu cd 0.378 0.403 0.400 0.397 0.394 0.391 0.416 0.413 LN sau thud/ tdng vdn ddu tu 0.073 0.078 0.078 0.077 0.077 0.076 0.081 0.080 Loi nhuan sau thue Chia co tuc Loi nhuan tich luy Ddng tien hang nam Luy ke ddng tien Hien gia ddng tidn Luy ke hien giaTddng tidn Tinh toan cac chi so BANG TINH TOAN NPV VA IRR -1 I Ddng vdo trd - Doanhthu - - Chinh l|ch cic khoan phai - - Thanh ly TSC» - Tdng ngan luu vdo II Ddng - Chi dau tu* - Chi phi - Chinh l?ch cic khoan phai - Thue TNDN - m IV NPVTIP V IRR_TIP VI Thdi gian tra no* (lay trdn) 10 11 12 213,998 271,493 276,489 281,484 286,480 70,203 27,533 27,533 27,533 27,533 30,223 30,223 42,071 71,705 56,935 37,167 16,268 3,314 3,264 3,362 3,463 3,567 3,674 3,784 0 0 0 0 0 0 trd 547,516 340,834 - Tong ngan luu Ngan luu rdng (1 - II) trd 547,516 340,834 42,071 71,705 56,935 37,167 16,268 3,314 3,264 3,362 3,463 3,567 3,674 3,784 (547,516) (340,834) 171,926 199,788 219,554 244,318 270,212 66,889 24,269 24,171 24,070 23,967 26,550 26,439 10.50% % nftm 29,568 11.19% 10.50% BANG TINH TOAN NPV VA IRR Ddng vAo 21 20 19 18 17 16 15 14 13 22 23 24 25 26 27 28 29 30 30,223 30,223 30,223 32,913 32,913 32,913 32,913 32,913 35,603 35,603 35,603 35,603 35,603 40,087 40,087 40,087 40,087 40,087 3,898 4,015 4,135 4,259 4,387 4,518 4,654 4,794 4,937 5,086 5,238 5,395 5,557 5,724 5,896 6,072 6,255 6,442 0 0 0 0 7,667 7,629 7,591 7,552 7,512 8,591 8,548 8,504 8,458 8,411 3,898 4,015 4,135 4,259 4,387 4,518 4,654 4,794 12,604 12,715 12,829 12,947 13,069 14,315 14,443 14,576 14,713 14,853 26,326 26,209 26,088 28,654 28,527 28,395 28,259 28,120 23,000 22,888 22,774 22,656 22,535 25,772 25,643 25,511 25,374 25,233 Doanh thu Chenh l$ch cic khoan phai Thanh ly TSCD Tong ngan luu vdo Ddng Chi dau tu Chi phi ChSnh l?ch cac khoan phai Thue TNDN Tong ngan luu Ngan luu rdng (I - II) NPV_TIP 1RR_TIP Thdi gian tra (l£y trdn) BANG TINH TOAN NPV VA IRR 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 42,777 42,777 42,777 42,777 42,777 45,467 45,467 45,467 45,467 45,467 48,157 48,157 48,157 48,157 48,157 50,847 50,847 6,635 6,835 7,040 7,251 7,468 7,692 7,923 8,161 8,406 8,658 8,917 9,185 9,461 9,744 10,037 10,338 10,648 9,035 8,986 8,934 8.882 8,827 9,444 9,386 9,327 9,265 9,202 9,810 9,743 9,674 9,603 9,530 10,127 10,050 Tong ngan liru 15,671 15,820 15,974 16,132 16,295 17,136 17,309 17,487 17,671 17,860 18,727 18,928 19,135 19.347 19,567 20,465 20,698 Ngan luu rdng (I - II) 27,106 26,957 26,803 26,645 26,481 28,331 28,158 27,980 27,796 27,607 29,430 29,229 29,022 28,809 28,590 30,382 30,149 Ddng vfco Doanh thu Chenh lfch cac khoan phai Thanh ly TSC» Tong ngan Itru vdo Ddng Chi dau tu1 Chi phi Chenh l?ch cac khoan phai Thue TNDN NPV TIP IRRTIP ThCri gian tra ny (lay trdn) CAN d6i kha NANG TRA NQ So TT Khoan muc Nam 2011 N3m 2012 Nam 2013 N8m 2014 N8m 2015 Nam 2016 N8m2017 Nam 2019 N3m 2018 Nam 2020 N8m 2021 Nam 2022 I Nguon tra 171,926 199,788 219,554 244,318 270,212 66,889 24,269 24,171 24,070 23,967 26,550 26,439 Khau hao 57,671 57,671 57,671 57,671 57,671 57,671 57,671 57,671 50,249 50,249 35,358 35,358 Lpi nhuan sau thue de lai 114,255 142,117 161,883 186,646 212,541 9,218 (33,402) (33,500) (26,178) (26,282) (8,808) (8,919) II Dy kien tra ny hang nfim 150,000 150,000 180,000 200,000 200,000 8,350 Tra ny 150,000 150,000 180,000 200,000 200,000 8,350 37,500 45,000 50,000 50,000 8,350 Quy I III Quy II 50,000 37,500 45,000 50,000 50,000 Quy III 50,000 37,500 45,000 50,000 50,000 Quy IV 50,000 37,500 45,000 50,000 50,000 21,926 49,788 39,554 44,318 70,212 Can doi 58,539 - - - - - 9,500 9,500 24,269 24,171 24,070 23,967 26,550 16,939