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

Rong Viet Securities

External broker reports(aggregated public sources)

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Equity Bottom-Up

Kinh Bac City Development / Equity Bottom-Up

<ul><li>Business performance recorded net revenue and net profit attributable to parent company shareholders (NPAT-MI) of VND 3.1 trillion (+1,946% YoY, +300% QoQ) and VND 783 billion (+26% YoY), respectively, surpassing expectations.</li><li>The primary revenue driver was industrial park (IP) land leasing, contributing VND 2,484 billion (compared to no land leasing revenue in the same period last year).</li><li>This corresponds to the successful leasing of 95 hectares at the Hung Yen Industrial Cluster (encompassing three sub-zones within the Kim Dong - Dang Le - Chinh Nghia Industrial Complex).</li></ul>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.

Business performance recorded net revenue and net profit attributable to parent company shareholders (NPAT-MI) of VND 3.1 trillion (+1,946% YoY, +300% QoQ) and VND 783 billion (+26% YoY), respectively, surpassing expectations.The primary revenue driver was industrial park (IP) land leasing, contributing VND 2,484 billion (compared to no land leasing revenue in the same period last year).This corresponds to the successful leasing of 95 hectares at the Hung Yen Industrial Cluster (encompassing three sub-zones within the Kim Dong - Dang Le - Chinh Nghia Industrial Complex).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.

KBC - Revenue to Recover, with Land Leasing to Major Clients

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hagl-jsc" target="_blank" data-smartkarma-citation="entities:6632:1" rel="noopener">Hagl Jsc (HAG VN)</a> is an inclusion while An Phat Holdings (APH VN) and CEO Group (CEO VN) are deletes from the MVIS Vietnam Index at the September rebalance.</li>
<li>There are a lot of float and capping changes that will result in one-way turnover of 12% and a one-way trade of US$45m.</li>
<li>There are a lot of stocks that have over 1 day of ADV to trade and there could be opportunities to enter/exit positions on a move in the stocks.</li>
</ul>



Hagl Jsc (HAG VN) is an inclusion while An Phat Holdings (APH VN) and CEO Group (CEO VN) are deletes from the MVIS Vietnam Index at the September rebalance.
There are a lot of float and capping changes that will result in one-way turnover of 12% and a one-way trade of US$45m.
There are a lot of stocks that have over 1 day of ADV to trade and there could be opportunities to enter/exit positions on a move in the stocks.


MVIS Vietnam Index Rebalance: One Add, Two Deletes

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES &amp; DISCLAIMERS IN APPENDIX 1 AT THE END OF REPORT.<div class="content-highlight">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.</div>

PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES &amp; DISCLAIMERS IN APPENDIX 1 AT THE END OF REPORT.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.

Kinh Bac City Development Share Holding (KBC VN/ Buy)

Kinh Bac Development Holding Corporation (HOSE: KBC) is one of the leading industrial park developers. The company possesses a huge land bank including 5,174 ha for industrial land and more than 1,100 ha for urban area development. It owns 7 major IPs in Bac Ninh, Hai Phong and HCMC as well as 7 IPs in associated with other parties. In the short term, land lots and villas sales are expected to bolster the company’s result. In the long term, the incoming leasable land of 689 ha from Nam Son Hap…

Kinh Bac Development Holding Corporation (HOSE: KBC) is one of the leading industrial park developers. The company possesses a huge land bank including 5,174 ha for industrial land and more than 1,100 ha for urban area development. It owns 7 major IPs in Bac Ninh, Hai Phong and HCMC as well as 7 IPs in associated with other parties. In the short term, land lots and villas sales are expected to bolster the company’s result. In the long term, the incoming leasable land of 689 ha from Nam Son Hap…

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

I had the opportunity to visit <a href="https://www.smartkarma.com/entities/22624" target="_blank" data-smartkarma-citation="entities:22624">Kinh Bac City Development Share Holding Corporation</a> 's Trang Due Industrial Park in Hai Phong, Vietnam.  This is the second industrial park I have visited that this company operates, and I have strong conviction for the future success of this company based on its current strong standing, and the growth ahead for industrial parks in Vietnam.  The company took me on a brief tour of this industrial park, and also gave a presentation of the benefits of this industrial…

I had the opportunity to visit Kinh Bac City Development Share Holding Corporation 's Trang Due Industrial Park in Hai Phong, Vietnam.  This is the second industrial park I have visited that this company operates, and I have strong conviction for the future success of this company based on its current strong standing, and the growth ahead for industrial parks in Vietnam.  The company took me on a brief tour of this industrial park, and also gave a presentation of the benefits of this industrial…

Trang Due Industrial Park Visit: More News from on the Ground in Northern Vietnam

Vietnam

Kinh Bac City Development Holding Corporation is a leading Vietnamese real estate company focused on the investment, construction, development, and management of industrial parks and urban areas. The company's core business involves developing industrial land, ready-built factories, offices, and residential estates, alongside providing related services like water and electricity supply. Kinh Bac City Development Holding Corporation was founded on March 27, 2002, and is headquartered in Que Vo, Bac Ninh Province, Vietnam.

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Kinh Bac City Development (KBC VN)

KBC - Revenue to Recover, with Land Leasing to Major Clients

Business performance recorded net revenue and net profit attributable to parent company shareholders (NPAT-MI) of VND 3.1 trillion (+1,946% YoY,...

Rong Viet Securities

MVIS Vietnam Index Rebalance: One Add, Two Deletes

There is 1 addition and 2 deletions for the MVIS Vietnam Index. There are a lot of float and capping changes that will result in one-way turnover...

Brian Freitas

KBC - Awaiting for a Breakthrough Year

Kinh Bac Development Holding Corporation (HOSE: KBC) is one of the leading industrial park developers. The company possesses a huge land bank...

Rong Viet Securities

Trang Due Industrial Park Visit: More News from on the Ground in Northern Vietnam

I had the opportunity to visit Kinh Bac City Development Share Holding Corporation 's Trang Due Industrial Park in Hai Phong, Vietnam. This is the...

Nomadic Equity

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