Analysis Center

12
May
REE – Earnings review – [BUY] – 1Q25: Power segment remains key driver in 1Q25
REE recorded a revenue of VND2,068bn (+13% yoy). The gross margin record increased to 46% yoy (+6%p yoy), leading to the gross profit going up to VND950bn (+28% yoy). Additionally,...

12
May
MSH – Brief – [NONRATED] – Solid growth in 1Q25 but risks loom from 2Q25F onward
in 1Q25, MSH’s revenue posted to VND1,036bn (+34.5% yoy/ -27.5% qoq), the MSH’s revenue growth outperformed compared to Vietnam T&G export thanks to the robust growth of CMT orders. Gross...

12
May
SBV resumes liquidity injection
This week, the SBV returned to liquidity injection, albeit at a moderate level, into the banking system after three consecutive weeks of net liquidity withdrawal. The interbank curve flattened as...

12
May
Covered warrant: Cautious optimism
Trading activity in the CWs market last week continued to maintain caution, recording a second consecutive week of decline. However, the number of covered warrants with price increases continued to...

12
May
Market commentary: Intraday divergence
Despite the minor market correction, a positive indicator is that the index successfully maintained its position above the 20-period moving average, implying a short-term upward trend. Therefore, investors may consider...

12
May
Chart of the day: Buying signal?
The VNIndex confirmed the uptrend when it surpassed the 1,240-point level. Therefore, investors may consider reopening positions in leading stock groups.

12
May
Derivatives: Accumulation phase
Despite the corrective session, the short-term uptrend has been confirmed. Therefore, traders may consider maintaining or opening long positions.

09
May
Securities – Note – [NONRATED] – Waiting for “Upgrading” theme
In 1Q25, aggregated NPAT was flat yoy at VND6.2tn (-1.9% yoy, +20.9% qoq). Margin loan balance hit the new record to VND267tn (+37.42 yoy). The margin lending rate in domestic-owned...

09
May
HAH – Brief – [NONRATED] – Right size at the right time
Revenue rose 66% YoY to VND1,169bn, led by vessel operation thanks to increased intra-Asia transshipment demand. Net profit jumped 294% YoY to VND233bn on higher container rates and lower SG&A,...