Analysis Reports

Economic data for October 2025 indicates that key growth drivers remain intact. Year-to-date (YTD) credit growth exceeded 15%, and public investment disbursement increased by 15.6% YoY (VND464tn, fulfilling 51.7% of the Prime Minister’s target). Meanwhile, other drivers, such as...

DEO CA TRAFFIC INFRASTRUCTURE INVESTMENT JSC (HHV VN) In 9M2025, HHV recorded revenue of VND2,596bn (+13% YoY) and NPAT of VND406bn (+31% YoY), fulfilling 72% and 86% of its targets and 67% and 79% of ACBS’s forecasts, respectively. We...

PC1 announced Q3/2025’s result with VND3,278 bn in revenue, +47% YoY, and NPAT of VND394 bn, +52% YoY. Cumulative 9M2025, NPAT was VND704 bn, +22% YoY, fulfilling 84% its plan and 76% ACBS’s forecast for 2025. The positive performance...

HOA SEN GROUP JSC (HSG VN) A gloomy 3Q2025 business result was due to a decline in output along with a narrowing gross profit margin due to increased input HRC prices. Looking ahead to 2026, the coated steel industry...

HDG announced Q3/2025 results with VND713 bn in revenue, +26% YoY, VND337 bn in NPAT, +85% YoY. For 9M2025, HDG recorded NPAT of VND570 bn, +5% YoY, achieving 54% its plan and 53% ACBS’s 2025 forecast. The results were...

NAM KIM STEEL JSC (NKG VN) A gloomy 3Q2025 business result was due to a decline in output and selling prices along with a narrowing gross profit margin due to increased input HRC prices. The outlook for NKG is...