Quarterly Financial Statements

We reiterate our ADD rating and raise our target price by 9% to VND125,700/share, implying 72.6% upside from the current price of VND71,700. The higher TP reflects our positive view on four key catalysts: (1) resilient ICT/CE demand supported by…

 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…