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02

October

Power sector – Preview – [Neutral] – 3Q24F Preview: The comeback of Hydropower

We believe that the 3Q24F's earnings of the hydropower groups could benefit significantly due to the La-Nina phase impact. Besides, thermal power groups record growth thanks to an increase in...

Report (17)

02

October

Seafood sector – Preview – [Overweight] – 3Q24F Preview: A robust growth trajectory

We believe that the 3Q24F’s earnings for most enterprises in the sector could experience high growth due to the low base effect in 3Q23. Regarding the pangasius industry, VHC could...

Report (10)

02

October

Oil & Gas sector – Preview – [NEUTRAL] – 3Q24F Preview: low Gas, robust Drilling

The bright spot of Oil & Gas sector in 3Q24F is a robust Drilling segment, and PVD is the largest listed beneficiary. Meanwhile, natural gas may see a strong retreat...

Report (10)

30

September

Securities – Note- [NONRATED] – Circular 68 on non-prefunding

The main amendments of Circular 68 are largely centered on 1) allowing foreign institutional investors (FII) could be short of funds when placing a buying share order 2) the securities...

Report (11)

25

September

MWG – Brief – [HOLD] – BHX expanded after a long wait

In Aug 24, BHX opened 17 stores to increase the total number to 1,721 stores (+23 stores YTD), which is faster than the open of 2 – 3 stores in...

Report (6)

17

September

HAH – Brief – [NONRATED] – Earnings bottom are confirmed

For 6M24, HAH reported total revenue of VND1,653bn (+31% YoY) and NPAT-MI of VND171bn (-21% YoY), fulfilling 59% of the year earnings guidance. The latest data from Liner Analytics shows...

Report (3)

06

September

HDG – Brief – [NONRATED] – NPAT boosted by drop in interest expenses

In 2Q24, HDG recorded revenue of VND560bn, slightly down by 8% yoy due to the impact of declining revenue in both the real estate and energy segments. Besides, gross profit...

Report (1)

04

September

VJC – Brief – [NONRATED] – Strong core business, new supplying incoming

In 2Q24, VJC operated 35.7 thousand flights (+10.2% YoY), carried 6.8mn passengers (+1.5% YoY), and reported a VND16.2tn revenue (-2.3% YoY). VJC reported better earnings results than our forecast of...

Report (3)

04

September

Seafood: Pangasius market – In-depth – [OVERWEIGHT] – The tide is turning

We believe that the presence of large enterprises will strengthen the industry's value chain, minimizing risks in the nurturing process. Additionally, the rise in global demand for seafood, along with...

Report (9)