Research Center

2Q24 net profit jumped 21.5% YoY to VND2.6tn (USD104.9mn), recording a third consecutive quarter of double-digit earnings growth. 1H24 results were in-line with our forecast as net profit completed 51.6% of our full-year projection. We see minimal pressure on our…

2Q24 net profit rose 2.1% YoY, mainly thanks to the delivery of 104 shophouse units compared to 23 units delivered in 1Q23, fueling 3.9% YoY growth in 1H24 net profit. 1H24 results were in line with our forecast, as revenue…

We maintain our ADD rating with 24.4% upside. We rise our TP by 23.2% while the shares have increased 24.4% since our last report. We raise our TP given a lower cost of equity and FY24’s BVPS rising 17.4%. YE24…

1Q24 pre-tax profit (PBT) soared 53% YoY to VND943bn (USD37mn). Thus, ROAE increased 1.4% YoY pts to 4.3%. 1Q24 TOI and net profit completed 24%/26% of our full-year forecasts, respectively. We see no pressure on our target price of VND36,500.…

MWG plans for FY24 revenue and net profit of VND125tn/VND2.4tn, respectively, increases of 6% yoy and 14 times compared to FY23. According to management, BHX will begin to record profit in 1Q24 and targets to reach net profit of VND1tn-VND2tn…

We maintain our Hold rating with 11.9% upside and a 0.0% dividend yield. We increase our TP by 11.0% while the stock price has increased 5.6% since our last report. The main drivers of our recommendation are the decline in…

We maintain our ADD rating with 50.2% upside. We decrease our TP by 22.3% while the share price has increased 8.5% since our last report. The main driver of our TP change is that we apply a 40% discount rate…

We adjust our rating to ADD with 19.0% upside. We change our TP by 16% while the share price has increased 28% since our last report. We adjust our TP to VND39,500 thanks to higher ROE, at 18.3% in FY24…

We retain our ADD rating with 24% upside and a 3.7% dividend yield. We increase our TP by 7% while the share price has increased by 3% compared to our last report. Our higher TP is due to the mixed…

We attended KBC’s extraordinary AGM on March 28, 2024 and here are our notes: Fast-tracking legal procedures for key projects and expanding land bank The Board of Directors (BOD) of KBC expects to complete and approve legal procedures for key…