Sector and company
18
November
POW – Brief – [HOLD] – Positive information for NT3&4 and 2025 prospects
On 15th, we attended POW’s analyst meeting. Here are some notable highlights: (1) POW recorded October revenue at VND2,261bn (+4% yoy), supported by a 13% yoy rise in production output,...
15
November
CTG – Brief – [NONRATED] – Outperformance
3Q24 PBT climbed by +34.5%yoy to VND6,553bn thanks to higher net interest incomes (+19%yoy) and high incomes from bad-debt collections, compensating by an increase in risk provision expenses (+25%yoy) and...
15
November
Retail – Note – [NONRATED] – A run-up for the peak sales season
Despite the Yagi Typhoon impacts, we saw a continuing recovery of listed retailers/distributors in 3Q24. In 4Q24F, we believe that consumer spending would be stronger because of (1) the recovery...
15
November
Quant Note – 3Q24 wrap-up: On right track
NPAT-MI growth reached up to 27.9% yoy in 3Q24, and the positive growth chain continued expanding. Even though NPAT-MI growth in 3Q24 was higher than 2Q24's 15.6% yoy, it is...
14
November
HDG – Brief – [NONRATED] – Energy supported growth trend while awaiting Charm Villas phase 3
HDG’s 3Q24 revenue amounted to VND567bn, up 23% yoy, driven by growth in both the energy and leasing & hotel services segments. Besides, the GP rose by 33% yoy to...
13
November
PVS – Brief – [NONRATED] – FX loss pressured earnings
3Q24 revenue grew to VND4.82tn (+15% yoy) thanks to the top-line growth from almost all segments. Company gross profit rose 85% yoy with gross margin expanded by 2.6%p, to 6.9%....
11
November
Textile & Garment – Note – [Nonrated] – Signals of shinning prospect
In 3Q24, textile and garment turned more vibrate in both manufacturing and export activity. Particularly, clothing, fabric and yarn domestic production grew by double-digit in 3Q24, meanwhile, the exports of...
08
November
Banking – Note – [OVERWEIGHT] – 3Q24 strong growth from the bottom
Aggregated 3Q24 PBT (27 banks) surged +17.7%yoy from a low base 3Q23 thanks to net interest incomes’ strong growth (+17.9%yoy) and moderate growths of OPEX (+9.8%yoy) and risk provision expenses...
08
November
PLX – Brief – [NONRATED] – Higher Brent volatility undermined earnings
In 3Q24, PLX’s revenue plummeted by 11% yoy (to VND64.3tn) owing to the contraction of both selling price and volume. In 3Q24, gross margin reached 5.3% (-1.0%p qoq and +0.1%p...
Featured Analysis
Derivatives: Waiting for confirmation signals
Market commentary: Broad-based gains
Market commentary: Widespread demand momentum
Derivatives: Green session
Derivatives: Pull-back confirmation
Market commentary: Cautious sentiment
Fund flow: Vietnam leads fund flows in SEA
