Sector and company
23
October
FPT – Brief – [NONRATED] – 3Q24: Enhancing international presence
In 3Q24, FPT’s revenue and PBT continued to climb up to VND15.9tn (+15.6% yoy) and VND2.9tn (+19.9% yoy) respectively. For 9M24, signed revenue increased to VND25.1tn (+21.4% yoy) with 33...
23
October
CNG – Brief – [NONRATED] – 3Q24: Disappointing bottom-line earnings
CNG's 3Q24 top line saw decent growth, with selling volume increased by 24% and revenue upped by 26% yoy. However, the bottom-line NPAT declined by 7.6% owing to a poor-performing...
22
October
FMC – Earnings review – [HOLD] – Absence of short-term growth impetus
In 3Q24, FMC released a revenue of VND2,845bn (+58.6% yoy) of which shrimp products revenue: +60.1% yoy (VND2,801bn). Particularly, the shrimp volumes reached at 8,919 tones (+32.3% yoy) and selling...
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...
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...
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...
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...
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...
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...
Featured Analysis
Derivatives: Piercing line pattern
Market commentary: Broad-based gains
Derivatives: Downtrend returns
Market commentary: Low liquidity
VCB – Earnings review – [BUY] – Maintaining asset quality
Covered warrant: Negative movements
Derivatives: Spinning top
