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

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

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Thematic (Sector/Industry)

<ul><li>Recently, HSX announced updated component securities (including changes in component stocks and calculation factors) for the VN30 Index, VNDiamond Index, and VNFin Lead Index baskets. In detail, there are no changes to any component stocks of either the VN30 Index or VNDiamond Index.</li><li>Meanwhile, the VNFin Lead Index has seen additions, as NAB, SSB, and VIX are new entrants to the basket, without any removals in the upcoming review, resulting in an increase in index constituents to 23 stocks.</li><li>Additionally, a few minor adjustments have been made to the limits of weighted-average calculation criteria for free-float, FOL, liquidity, and capitalization for all indexes. To sum up, the majority of the aggregate rebalancing transactions will focus on the buying direction, while FPT has been deleveraged aggressively.</li></ul><div class="content-highlight"><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></div>

Recently, HSX announced updated component securities (including changes in component stocks and calculation factors) for the VN30 Index, VNDiamond Index, and VNFin Lead Index baskets. In detail, there are no changes to any component stocks of either the VN30 Index or VNDiamond Index.Meanwhile, the VNFin Lead Index has seen additions, as NAB, SSB, and VIX are new entrants to the basket, without any removals in the upcoming review, resulting in an increase in index constituents to 23 stocks.Additionally, a few minor adjustments have been made to the limits of weighted-average calculation criteria for free-float, FOL, liquidity, and capitalization for all indexes. To sum up, the majority of the aggregate rebalancing transactions will focus on the buying direction, while FPT has been deleveraged aggressively.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.

<ul><li>Vietnam Prosperity JSCB (VPB), formerly known as Vietnam JSCB for Private Enterprises, was established in 1993.</li><li>The Bank has its core business in mobilizing capital and crediting.</li><li>In addition, VPBank also engages in international banking services, trades foreign currencies, financial investment, risk management and capital protection. VPBank ha</li></ul><div class="content-highlight"><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></div>

Vietnam Prosperity JSCB (VPB), formerly known as Vietnam JSCB for Private Enterprises, was established in 1993.The Bank has its core business in mobilizing capital and crediting.In addition, VPBank also engages in international banking services, trades foreign currencies, financial investment, risk management and capital protection. VPBank haContent 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.

Stock Recommendations (Vietnam Market) - May 2024

<ul><li>According to the Vietnam Electricity Corporation (EVN), electricity consumption increased by 6.3% YoY in 4M22.</li><li>Wind power was the biggest beneficiary, with a 500% YoY increase in April 2022 and 369% YoY increase in 4M22, in terms of volume.</li><li>Solar power output grew by 53% YoY in April 2022 and 6.6% YoY in 4M22.</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>

According to the Vietnam Electricity Corporation (EVN), electricity consumption increased by 6.3% YoY in 4M22.Wind power was the biggest beneficiary, with a 500% YoY increase in April 2022 and 369% YoY increase in 4M22, in terms of volume.Solar power output grew by 53% YoY in April 2022 and 6.6% YoY in 4M22.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.

Vietnam Utilities: Strong Earnings Growth in 1Q22

Equity Bottom-Up

PetroVietnam Power Corp / Equity Bottom-Up

PetroVietnam Power Corporation (POW VN)<div class="content-highlight"><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></div>

PetroVietnam Power Corporation (POW VN)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.

PetroVietnam Power Corporation (POW VN/Buy)_Update_Output to rebound in Nhon Trach 1&2 plants

Valuation and recommendation We maintain our target price of VND14,000 for PetroVietnam Power Corporation (POW).<div class="content-highlight"><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></div>

Valuation and recommendation We maintain our target price of VND14,000 for PetroVietnam Power Corporation (POW).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.

PetroVietnam Power Corporation (POW VN/Trading Buy)_Update_The Nhon Trach 3&4 projects are on track

Vietnam

PetroVietnam Power Corporation operates as a power generation company. The Company specializes in production, transmission, and distribution of electricity, as well as owns, develops, and installs electrical and thermal power plants. PetroVietnam Power serves customers in Vietnam.

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PetroVietnam Power Corp (POW VN)

3Q24 ETF Rebalancing Forecast

To sum up, the majority of the aggregate rebalancing transactions will focus on the buying direction, while FPT has been deleveraged aggressively.

Mirae Asset Securities

Stock Recommendations (Vietnam Market) - May 2024

Vietnam Prosperity JSCB (VPB), formerly known as Vietnam JSCB for Private Enterprises, was established in 1993. The Bank has its core business in...

Mirae Asset Securities

Vietnam Utilities: Strong Earnings Growth in 1Q22

According to the Vietnam Electricity Corporation (EVN), electricity consumption increased by 6.3% YoY in 4M22. Wind power was the biggest...

Mirae Asset Securities

PetroVietnam Power Corporation (POW VN/Buy)_Update_Output to rebound in Nhon Trach 1&2 plants

PetroVietnam Power Corporation (POW VN)

Mirae Asset Securities

PetroVietnam Power Corporation (POW VN/Trading Buy)_Update_The Nhon Trach 3&4 projects are on track

Valuation and recommendation We maintain our target price of VND14,000 for PetroVietnam Power Corporation (POW).

Mirae Asset Securities

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