Analysis Center

BANK FOR FOREIGN TRADE OF VIETNAM (BID) We recommend OUTPERFORM for BID with a 1-year target price of VND54,000/share based on a target P/B of 2.0 times. Business results in the coming quarters are supported by NIM with plenty...

COTECCONS CONSTRUCTION JSC (CTD VN): RESILIENTLY OVERCOMING CHALLENGES Coteccons Construction JSC (CTD VN), a prominent construction firm in Vietnam, has consistently maintained its top position in the fiercely competitive industry. The substantial backlog of signed construction contracts, valued at nearly...

Quang Ninh Thermal Power JSC (Upcom: QTP) QTP announced Q2/2024 business results with revenue reaching VND 3,628 bn, -2.2% YoY, gross profit reaching VND 211 bn, -29.7% YoY and NPAT reaching VND 160 bn, -35.5% YoY. Accumulated 6M2024, NPAT...

Nhon Trach 2 Thermal Power JSC (HOSE: NT2) Following the disappointed results in 2023 (Revenue: -27.3% YoY, NPAT: -46.4% YoY), we project NT2 will continue to experience a decline in revenue and NPAT in 2024 (Revenue: -43.4% YoY, NPAT:...

INDUSTRIAL PROPERTY SEGMENT FDI continues to be a key growth driver: In 1H2024, registered FDI reached USD15.2 bn (+13.1% YoY) and disbursed FDI was USD10.8 bn (+8.2 % YoY). Bac Ninh rose to be the #1 province in the...

IMEXPHARM PHARMACEUTICAL JSC (IMP VN) The hospital channel’s contribution continued to broaden at the expense of the pharmacy channel’s. A new factory is in the early phase of establishment.  IMP reported net revenue of VND491bn (+2.5% YoY) and EBT...