External broker reports(aggregated public sources), Rong Viet Securities

Rong Viet Securities

External broker reports(aggregated public sources)

RongViet is proud to have a research team of experienced and trustworthy people whose works are at all time governed by the codes of objectivity, integrity and client's best interest.

Looking at relevant, up-to-date information from multiple perspectives with the support of intensive data and analyses, RongViet's research is effective, practical and widely used for investing purposes.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Although company directors had predicted correctly that the market would be negative at the end of the year, HPG still had a record loss due to macro policies that caused sudden stagnation in the real estate-construction sector, making steel prices and output drop rapidly.</li><li>The rather rigid inventory policy resulted in high inventory of raw materials in 2Q and 3Q causing a gross loss in 4Q.</li><li>Having economies of scale as the best advantage, HPG now has to suspend some of their blast furnaces due to sluggish demand.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Although company directors had predicted correctly that the market would be negative at the end of the year, HPG still had a record loss due to macro policies that caused sudden stagnation in the real estate-construction sector, making steel prices and output drop rapidly.The rather rigid inventory policy resulted in high inventory of raw materials in 2Q and 3Q causing a gross loss in 4Q.Having economies of scale as the best advantage, HPG now has to suspend some of their blast furnaces due to sluggish demand.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HPG ­- Domestic steel demand dictates profit recovery progress

Vietnam

Hoa Phat Group is a leading industrial manufacturing group in Vietnam, primarily specializing in iron and steel production, including construction steel, hot rolled coil, steel pipes, and galvanized steel. The group also diversifies into agriculture, real estate, and home appliances. Founded in August 1992 as a construction machine and equipment trading company, Hoa Phat Group is headquartered in Hanoi, Vietnam.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Hoa Phat Group (HPG VN)

HPG - Domestic steel demand dictates profit recovery progress

Having economies of scale as the best advantage, HPG now has to suspend some of their blast furnaces due to sluggish demand.

Rong Viet Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HPG ­- Domestic steel demand dictates profit recovery progress

Having economies of scale as the best advantage, HPG now has to suspend some of their blast furnaces due to sluggish demand.

Rong Viet Securities

HPG - Domestic steel demand dictates profit recovery progress