Rong Viet

H1 22 – Profits reduced due to high costs; adverse effects from geopolitical tensions and global monetary tightening. Gross profit margin has little chance to improve in the H2 as steel prices have not recovered significantly. We recommend 'Observe'....

Q2 22 performance – Strong sales helped H1 22 results meet c80% of the 2022 target. 2022 outlook: Favourable conditions support sales growth. Our target price is VND26,500. Adding a cash dividend of VND500, the 12-months expected return is 9.8%; Accu...

According to Mercedes-Benz, 2022 is the year marking the start of their new generation cars. Therefore, Mercedes car sales are expected to show an upward trend. H2 22 ASP of Mercedes cars in Vietnam will be higher than H1 22 thanks to the contributio...

Industries (and their sub-sectors) with good Q2 2022 profit growth prospects such as Consumer Goods (Fishery, F&B), Consumer Services (Retail), IT, Utilities (Electricity, Water), Materials (Chemical), Industry (Logistics) continued to witness improv...

VCB maintained its growth momentum in Q1 22 with moderate earnings results (15% yoy), driven by robust net interest income and net profit margin. Non-interest income was impacted by the bancassurance fee bonus, zero transaction fee package and high c...

Significant growth in NPATMI in 1Q2022. Throughput in April and May declined slightly, but we expect it to grow from June this year. We raise our target price for GMD to VND65,700 and recommend Accumulate.