Quarterly Financial Statements

 2Q26 net profit increased 10.9% YoY to VND144.9bn (USD5.4mn), driven by revenue growth and gross margin expansion. 1H26 net profit was in line with our expectations, achieving 48.1% of our full-year forecast. We see no pressure on our target price…

1Q26 net profit (NP) dropped 67.8% YoY to VND50bn (USD1.9mn), mainly due to a sharp increase in SG&A expenses, which was driven by provision expenses related to the Infra 1 solar plant. 1Q26 NP was significantly below our expectation at…

KDH reported 1Q26 revenue of VND281tn (USD11mn), down 60.4% YoY, while NPAT-MI surged 130% YoY to VND281bn (USD11mn), driven by a gain from a bargain purchase related to the An Lap investment acquisition. GPM stayed elevated at 65% in 1Q26,…