TNG STRONG BUY Target Price VND18538 Company Report (2)

Assignment 3B Hotel or tour company report- Thang Loi hotelTHANG LOI HOTEL I- INTRODUCTIONNowadays, the demand of tourism and stay is more and more popular in the world. Apart from the famous tourist destination, the beautiful landscapes, the stay is one of the important things to get a perfect trip. So, more and more luxurious hotels are built to meet the demand of customers. They have become a very active business development in the world as well as in Viet Nam. Hanoi is the capital of Viet Nam, the center of the country. Therefore, business hotels in Ha Noi are developed. There are many luxury and convenient hotels and Thang Loi is a 4 star hotel very successful in business stay. We are students of faculty of tourism - hotel management. So researching on the process of operation of hotel is very necessary for our profession in the future. So we do Hotel or tour company report assignment after finding information about hotel. This assignment is “Hotel or tour company report” with our topic is “Thang Loi hotel”. To do this assignment, we have to work in group of 6 members:♦ Nguyễn Thị Quỳnh Anh♦ Bùi Thị Hạnh♦ Bùi Thị Hiền♦ Đỗ Thị Minh Hồng♦ Đinh Thị Thùy Linh♦ Lương Thị LinhWe are 2nd year students at class A3K16.A3K16 Faculty of tourism- HOU1 Assignment 3B Hotel or tour company report- Thang Loi hotelThis assignment is a group exercise, so it requires each members has to do conceptually. We have gone to Thang Loi hotel to take photographs with six members and ask for brochures and information. Next, we have to write report to hand in and do presentation of assignment in front of our class.“Hotel or tour company report” assignment has two main duties.The first duty is report writing. It has four main parts: Introduction (introduce the assignment generally), Body (information of Thang Loi hotel), Conclusion and Recommendation.The second duty is presentation. All members in group will have to speaking about own information which were divided.Doing “Hotel or tour company report” assignment is very interesting and useful. It helps us have knowledge about hotel or tour company; enhance our report writing skill, speaking skill. Moreover, we will improve our team working spirit- a very important skill for our future job. All members in our group tried best to do “Hotel or tour company report” assignment. A3K16 Faculty of tourism- HOU2 Assignment 3B Hotel or tour company report- Thang Loi hotelII-BODY 1. General information about Thang Loi hotel:1.1.LocationThang Loi Hotel in Hanoi is strategically located Hotels in Hanoi in Vietnam. Thang Loi Hotel is one of the suitable Hotels in Vietnam and has a contemporary lodging. The hotel has a convenient location and is thus conveniently accessible for all kind of travelers. The Location of Thang Loi Hotel in Hanoi is near West Lake the most scenic and quiet area. Its innate exquisiteness is just is one of many things to discover while you stay in Vietnam. The location of Thang Loi hotel in Hanoi is ideal for both resting and working place. The experienced and well-furnished hotel will bring all businessmen and tourists the convenience and skilled services. It 15/09/2017 BSC MUA MẠNH CTCP Đầu tư Thương mại TNG KQKD cải thiện ấn tượng Khuyến nghị Định giá Giá mục tiêu Giá đóng cửa Upside 18,538 13,300 39.39% Dữ liệu thị trường Số lượng cp (tr cp) Vốn hóa (tỷ đ) Giá cao 52 tuần Khối lượng giao dịch bình quân 10 ngày (cp) 41.12 547 16,100 428,986 Nguyễn Văn Thời Nguyễn Đức Mạnh Rusdy Pranata 19.33% 6.08% 5.50% Diễn biến giá Diễn biến giá Catalyst Ngành Dệt may Việt Nam có chuyển biến tích cực, 8T2017, xuất đạt 16.86 tỷ USD, +8.2%yoy (8T2016 đạt 5.5%yoy năm 2016 đạt 4.6%yoy) Luận điểm Đầu tư Cổ đông lớn (%) TNG VN-Index Chúng khuyến nghị Mua Mạnh cổ phiếu TNG với giá mục tiêu 18,538 đồng/cp (+39.39% so với mức giá đóng cửa ngày 15/09/2017) dựa phương pháp định giá FCFF PE 1M 3M 1Y 15% 5% 10% 6% 12% 23% Tập trung đơn hàng cho Decathlon TCP (2 khách hàng mở rộng thị trường bán lẻ toàn cầu), chủ động giảm đơn hàng với khách hàng nhỏ Xuất đơn hàng với Levi’s tháng 10 – 11/2017, giá trị không cao đánh dấu bước chuyển sang phương thức FOB nghĩa (biên lợi nhuận 25% so với mức 17% tại) Số dư hàng tồn kho 30/06/2017 mức cao lịch sử, KQKD tháng cải thiện tốt, triển vọng LN tăng trưởng ấn tượng Q3/2017 Rủi ro Đầu tư Ảnh hưởng sách BHXH mới, chi phí BHXH +20%yoy Sử dụng tỷ lệ đòn bảy tài cao nhóm Dệt may niêm yết Chuỗi bán lẻ thời trang TNG lỗ Thực Lương Thu Hương huonglt@bsc.com.vn BSC Research Các tiêu tài 2013 2014 2015 2016 2017E DTT (tỷ đ) 1,180 1,377 1,924 1,888 2,553 % tăng trưởng -2.39% 16.67% 39.71% -1.88% 35.25% Tổng tài sản 961 1,198 1,614 1,846 2,275 Vốn chủ sở hữu 212 262 428 521 625 Vốn ĐL (tỷ đ) 135 163 295 343 411 LN gộp (tỷ đ) 218 262 349 333 450 LN sau thuế 14 53 71 81 111 Biên LN gộp 18.48% 19.03% 18.14% 17.65% 17.63% ROE 6.64% 20.28% 16.66% 15.58% 17.76% ROA 1.46% 4.44% 4.42% 4.40% 4.88% Trang|1| BSC 15/09/2017 CTCP Đầu tư Thương mại TNG Tổng quan TNG TNG doanh nghiệp may xuất với tỷ trọng đơn hàng FOB chiếm khoảng 60% tổng giá trị đơn hàng, giai đoạn từ 2010 – 2016, doanh thu TNG tăng trưởng với CAGR đạt 20%, cao so với mức 13.4% giá trị xuất toàn ngành Dệt may Việt Nam Doanh thu TNG tăng từ 623 tỷ đồng (2010) lên mức 1,888 tỷ đồng (2016) Biên LNG TNG trung bình đạt 17.5%, mức cao so với doanh nghiệp dệt may Việt Nam Tuy nhiên biên LN từ hoạt động kinh doanh / DTT đạt 5.03% thấp trung bình ngành 6.60% (nhóm so sánh gồm TCM, GMC, VGG, TVT, PPH) Về Năng lực sản xuất may, TNG có chi nhánh may, tổng công suất 230 chuyền may, hoạt động 88% công suất, chi nhánh phục vụ cho xuất Việt Đức, Việt Thái, Đại Từ, Sông Công, Phú Bình, sản phẩm áo Jackets – quần Chino; chi nhánh Thời trang TNG có chuyền may, 22 cửa hàng thời trang, phủ rộng tỉnh miền Bắc số tỉnh miền Nam (Cần Thơ, Hậu Giang, Kiên Giang, Tp HCM) tỷ đồng TNG qua năm 2,500 25% 2,000 20% 1,500 15% 1,000 10% 500 5% - 0% 2010 2011 Doanh số 2012 TTS 2013 Biên LNG 2014 2015 2016 Biên LN kinh doanh Nguồn: BSC Research, BCTC TNG Kết kinh doanh tháng 2017 tăng trưởng ấn tượng TNG vừa công bố KQKD tháng với doanh thu đạt 354.56 tỷ đồng (+57.25%yoy), lũy kế 8T2017, DTT đạt 1,635 tỷ đồng (+25.67%yoy), biên LNG 8T2017 đạt 16.94%, có giảm nhẹ so với mức 17.03% kỳ 2016 Đáng ý LNST tháng 8/2017 đạt 19 tỷ đồng (+59%yoy), tỷ suất lợi nhuận đạt 5.39% (cao nhiều so với mức trung bình 3.96% năm gần nhất) BSC lưu ý, thường chu kỳ năm TNG, Quý Quý quý có KQKD đột biến đặc điểm đơn hàng xuất dồn năm, Quý Quý có LN thấp quý lại (1) Kỳ vọng từ Đơn hàng với Levi’s – Bước chuyển sang phương thức FOB nghĩa Hiện tỷ lệ đơn hàng FOB CMT chiếm khoảng 60 – 40% cấu Doanh thu TNG, mục tiêu tương lai TNG đẩy tỷ trọng FOB chiếm từ 70 – 80% Doanh thu, góp phần cải thiện biên lợi nhuận cho doanh nghiệp BSC Research Trang|2 15/09/2017 CTCP Đầu tư Thương mại TNG BSC Hai khách hàng lớn TNG Decathlon The Children’s Place (TCP) chiếm khoảng 50% giá trị đơn hàng năm 2017, đơn hàng Decathlon 45 triệu USD (+170%yoy) TCP 20 triệu USD (+240%yoy) Nguyên nhân tăng mạnh với khách hàng năm 2017 TNG chủ động giảm đơn hàng từ đối tác nhỏ nhận thêm đơn hàng từ đối tác Dự kiến năm 2018, giá trị đơn hàng với Decathlon tăng 10%yoy 35%yoy với TCP Với đơn hàng Decathlon, TNG thực may áo jacket, quần short áo thể thao, tỷ lệ hàng FOB CMT 50 – 50 Decathlon chuỗi bán lẻ đồ thể thao lớn Thế giới Pháp Năm 2016, doanh thu Decathlon đạt 10 tỷ EUR, tăng 12%yoy nhờ mở thêm 164 cửa hàng toàn cầu, có nước lần đầu thâm nhập Mexico, Ivory Coast, Singapore, Malaysia Slovenia (năm 2015 Decathlon mở 140 cửa hàng) Tính đến hết năm 2016, Decathlon diện 28 quốc gia với 1,176 cửa hàng, top nước có độ phủ lớn Pháp (301 cửa hàng), Trung Quốc (214 cửa hàng) Tây Ban Nha (149 cửa hàng) Nếu xét like for like sales growth năm 2016 đạt 4.4%, thấp tỷ lệ tăng trưởng năm 2015 (5%) 2014 (6%) Trong năm 2017, Decathlon tiếp tục mở rộng chuỗi bán lẻ Trung Quốc (Hải Nam, Sơn Tây Côn Minh) nhờ lối sống rèn luyện sức khỏe nhân rộng Trung Quốc, bên cạnh Decathlon hướng tới thị trường Hongkong, Australia Canada Với đơn hàng TCP, tỷ lệ đơn hàng FOB 100%, TNG thực may áo jacket, váy quần The Children’s Place ...200 Startup Tips For Becoming a Strong Leader & Creating a Successful Company. by Ilya Kaganovich eBook Edition Buy the Audiobook version read by the author at www.200startuptips.com * * * * * Dedicated to my parents, who encouraged and gave guidance in making this eBook, and everyone else who helped * * * * * * * * * * PUBLISHED BY Ilya Kaganovich on Smashwords 200 Startup Tips For Becoming a Strong Leader and Creating a Successful Company Copyright © 2010 by Ilya Kaganovich eBook Edition License Notes This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each person you share it with. If you're reading this book and did not purchase it, or it was not purchased for your use only, then you should return to Smashwords.com and purchase your own copy. Thank you for respecting the author's work. * * * * * 200 Startup Tips For Becoming a Strong Leader & Creating a Successful Company. Table of Contents Section 1 - Fundamentals Section 2 - Thinking of Ideas Section 3 - Starting Section 4 - Attitude Section 5 - People Section 6 - Health Section 7 - Money Section 8 - Marketing Section 9 - Sales Section 10 - Investors Section 11 - Leading Section 12 - Public Speaking Section 13 - Quotes Section 14 - Bonus Section-Inspiring Quotes * * * * * 200 Startup Tips For Becoming a Strong Leader & Creating a Successful Company. This eBook is a compilation of 200 introductory ideas for becoming a strong leader and creating a successful company. It is highly recommended to study business more in detail to develop better understanding of the concepts. Highly suggested authors are Brian Tracy, Tony Robbins and Donald Trump. On our website, 200startuptips.com, you can also download a free complimentary copy of the world famous book, Think and Grow Rich by Napolean Hill, in audiobook format. We will begin with the top five tips, the fundamentals, in some detail, and then quickly go over the remaining tips in the following categories: thinking of ideas, starting, attitude, people, health, money, marketing, sales, investors, leading, public speaking and quotes. Section 1 Fundamentals 1.Develop Confidence. It is important to have a strong belief in your abilities to achieve the goals you set for yourself. Brian Tracy suggests asking yourself the following question to develop confidence: “What one goal would you dare to dream if you knew it were impossible to fail?” Write down your goal on paper, put a deadline on it, make plans and take action everyday toward the realization of this goal. Confidence develops when a person truly believes that they can get what they want in life. Your goal may be related to business or some other area like health or relationships, but regardless, as you put in effort toward the realization of your goals and gain experience, you will become a person with more confidence. 2.Write Down Your Goals. This is one of the most underused success techniques. We can think how much we want something in our head, but an energizing force is created when we write our goals and plans on paper. On a piece of paper write a variety of goals from the long term, ten year goals, to the short term, one month goals. Make goals in the various areas of your life, from your health, to your relationships, your finances, and the things you want to own. Create lots of Practice report Supervisor: Ngo Thi Thai ACKNOWLEDGEMENT I am using this opportunity to express my gratitude to M.A NGO THI THAI who supported me throughout the process of writing report Although I not have many experiences and my knowledge is limited, but during the work Mrs Thai gave me a lot of thoughtful recommendations, advice which helped me to complete the report in the best way I am really grateful to her Secondly, I would like to thank all my teachers in Ha Noi College of Commerce and Tourism who taught me during three years with a lot of basic and professional knowledge Thanks to this knowledge I can apply to the practice and I carry out the report At last, I sincerely thank TNG Fashion Company I had a great chance to intent at the company Here, I had a chance to meet some people who guided me in the internship period They helped me a lot and provided information about the company which helped me to make a report Especially, I also thank Mr Manh who have direct guidance, advises me about what is best to Once again, I really thank you everyone at the company STUDENT: HOANG THI DUYEN i Class: CĐAV4A Practice report Supervisor: Ngo Thi Thai TABLE OF CONTENTS ACKNOWLEDGEMENT i TABLE OF CONTENTS ii LIST OF TABLES iv LIST OF ABBREVIATIONS iv PART I: INTRODUCTION 1 Rationales Aims of study Scope of the study Method of the study PART II: CONTENT Chapter 1: Theoretical Background of Marketing 1.1 Overview of marketing 1.1.1 Definition of marketing 1.1.2 The role of marketing 1.1.3 The functions of marketing 1.2 Marketing process 1.2.1 Marketing research 1.2.2 Classification 1.2.3 Factors affecting marketing 1.2.3.1 Product 1.2.3.2 Price 1.2.3.3 Distribution CHAPTER 2: Practical Background 10 2.1 Introduction about TNG Fashion Company 10 2.1.1 The history of formation and development 10 2.1.1.1 The formation 10 2.1.1.2 The development 10 2.1.2 Function and tasks of production and business of the company 11 2.1.2.1 Function 11 2.1.2.2 Tasks 12 2.1.3 Organization structure 12 2.1.3.1 Management of the company 12 2.1.3.2 Function 14 2.1.4 Human resources 15 2.2 Reality marketing activities of TNG Fashion Company 17 STUDENT: HOANG THI DUYEN ii Class: CĐAV4A Practice report Supervisor: Ngo Thi Thai 2.2.1 Prices and methods of valuation of the company 17 2.2.1.1 Competition 17 2.2.1.2 The form sales of the company 18 2.2.2 Overview of TNG Fashion Company’s marketing activities 19 2.3 Assess 20 2.3.1 Accomplishments 20 2.3.2 Strengths 21 2.3.3 Weaknesses 21 2.3.4 Opportunities 22 2.3.5 Threats 22 CHAPTER 3: Proposals and Solution 23 3.1 Rate, review general situation of the enterprise 23 3.1.1 Rate, review 23 3.1.2 Cause success and shortcomings in the enterprise 25 3.1.2.1 Cause success 25 3.1.2.2 Shortcomings in the enterprise 26 3.2 Proposed a number of measures to promote business activities of enterprises 26 PART 3: CONCLUSION 28 REFERENCES 30 STUDENT: HOANG THI DUYEN iii Class: CĐAV4A Practice report Supervisor: Ngo Thi Thai LIST OF TABLES LIST OF ABBREVIATIONS STUDENT: HOANG THI DUYEN iv Class: CĐAV4A Practice report Supervisor: Ngo Thi Thai PART I: INTRODUCTION Rationales Today, Vietnam’s economy is expanding, so there are many great opportunities for businesses to develop, compete with the global economy Marketing activities are aimed to satisfy customer needs and their desires through the exchange process Marketing is one of the most important strategies for a fashion company Marketing decisions HeaderPractice Page 1report of 166 Supervisor: Ngo Thi Thai ACKNOWLEDGEMENT I am using this opportunity to express my gratitude to M.A NGO THI THAI who supported me throughout the process of writing report Although I not have many experiences and my knowledge is limited, but during the work Mrs Thai gave me a lot of thoughtful recommendations, advice which helped me to complete the report in the best way I am really grateful to her Secondly, I would like to thank all my teachers in Ha Noi College of Commerce and Tourism who taught me during three years with a lot of basic and professional knowledge Thanks to this knowledge I can apply to the practice and I carry out the report At last, I sincerely thank TNG Fashion Company I had a great chance to intent at the company Here, I had a chance to meet some people who guided me in the internship period They helped me a lot and provided information about the company which helped me to make a report Especially, I also thank Mr Manh who have direct guidance, advises me about what is best to Once again, I really thank you everyone at the company Footer STUDENT: Page HOANG of 166 THI DUYEN i Class: CĐAV4A HeaderPractice Page 2report of 166 Supervisor: Ngo Thi Thai TABLE OF CONTENTS ACKNOWLEDGEMENT i TABLE OF CONTENTS ii LIST OF TABLES iv LIST OF ABBREVIATIONS iv PART I: INTRODUCTION 1 Rationales Aims of study Scope of the study Method of the study PART II: CONTENT Chapter 1: Theoretical Background of Marketing 1.1 Overview of marketing 1.1.1 Definition of marketing 1.1.2 The role of marketing 1.1.3 The functions of marketing 1.2 Marketing process 1.2.1 Marketing research 1.2.2 Classification 1.2.3 Factors affecting marketing 1.2.3.1 Product 1.2.3.2 Price 1.2.3.3 Distribution CHAPTER 2: Practical Background 10 2.1 Introduction about TNG Fashion Company 10 2.1.1 The history of formation and development 10 2.1.1.1 The formation 10 2.1.1.2 The development 10 2.1.2 Function and tasks of production and business of the company 11 2.1.2.1 Function 11 2.1.2.2 Tasks 12 2.1.3 Organization structure 12 2.1.3.1 Management of the company 12 2.1.3.2 Function 14 2.1.4 Human resources 15 2.2 Reality marketing activities of TNG Fashion Company 17 Footer STUDENT: Page HOANG of 166 THI DUYEN ii Class: CĐAV4A HeaderPractice Page 3report of 166 Supervisor: Ngo Thi Thai 2.2.1 Prices and methods of valuation of the company 17 2.2.1.1 Competition 17 2.2.1.2 The form sales of the company 18 2.2.2 Overview of TNG Fashion Company’s marketing activities 19 2.3 Assess 20 2.3.1 Accomplishments 20 2.3.2 Strengths 21 2.3.3 Weaknesses 21 2.3.4 Opportunities 22 2.3.5 Threats 22 CHAPTER 3: Proposals and Solution 23 3.1 Rate, review general situation of the enterprise 23 3.1.1 Rate, review 23 3.1.2 Cause success and shortcomings in the enterprise 25 3.1.2.1 Cause success 25 3.1.2.2 Shortcomings in the enterprise 26 3.2 Proposed a number of measures to promote business activities of enterprises 26 PART 3: CONCLUSION 28 REFERENCES 30 Footer STUDENT: Page HOANG of 166 THI DUYEN iii Class: CĐAV4A HeaderPractice Page 4report of 166 Supervisor: Ngo Thi Thai LIST OF TABLES LIST OF ABBREVIATIONS Footer STUDENT: Page HOANG of 166 THI DUYEN iv Class: CĐAV4A HeaderPractice Page 5report of 166 Supervisor: Ngo Thi Thai PART I: INTRODUCTION Rationales Today, Vietnam’s economy is expanding, so there are many great opportunities for businesses to develop, compete with the global economy Marketing activities are aimed to ... CTCP Đầu tư Thương mại TNG Tổng quan TNG TNG doanh nghiệp may xuất với tỷ trọng đơn hàng FOB chiếm khoảng 60% tổng giá trị đơn hàng, giai đoạn từ 2010 – 2016, doanh thu TNG tăng trưởng với CAGR... Chuỗi bán lẻ thời trang TNG mục tiêu hòa vốn năm 2017 – 2018 Từ thành công đối tác với chuỗi bán lẻ, TNG hướng tới việc xây dựng thương hiệu cho chuỗi cửa hàng TNG Năm 2016, TNG phát hành 200,000... Doanh thu TNG, mục tiêu tương lai TNG đẩy tỷ trọng FOB chiếm từ 70 – 80% Doanh thu, góp phần cải thiện biên lợi nhuận cho doanh nghiệp BSC Research Trang|2 15/09/2017 CTCP Đầu tư Thương mại TNG BSC