Analysis Reports

The company reported an EAT surge of 31.7% YoY in 4Q2025 thanks to better sales performance and the low base in the same period last year, largely in line with our expectations. Cumulative 2025, the company reported EAT of...

For 2025, BSR achieved revenue of VND 141.57 trillion (+15% yoy, completing 92% annual plan, and 101% of ACBS’s forecast), and net profit of VND 5,189 billion (+722% yoy, completing 240% annual plan, and 173% of ACBS’s forecast). BSR’s...

DEO CA TRAFFIC INFRASTRUCTURE INVESTMENT JSC (HHV VN) In 2025, HHV delivered positive results which were in line with our expectations (NPAT: +38% YoY), driven by solid contributions from its two core segments: BOT toll collection and construction. Looking...

In 2025, DPM achieved revenue of VND 16,564 billion (+22.7% yoy, 129% of plan, and 107% of ACBS’s forecast), and net profit of VND 1,095 billion (+97.7% yoy, 342% of plan, and 92% of ACBS’s forecast). The growth in...

4Q2025 and 2025 results were in line with ACBS’s projections. Sales value in 4Q2025 and 2025 reached historical peaks. We maintain our 2026 projections but adjust our end-of-2026 target price down by 13% to VND 40,800/share due to a...

Entering FY2026, the government set an aggressive 10% GDP growth target (Resolution 01/NQ-CP). This elevated objective necessitates a strategic pivot toward domestic growth engines. The roadmap prioritizes the consolidation of state-owned economic foundations, the revitalization of the private sector,...