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

Rong Viet Securities

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External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>In Q2-FY25, FRT recorded a positive performance with net revenue/NPAT-MI reaching VND 11,390.3 bn (-2.4% QoQ, +23.3% YoY) and VND 118.7 bn (-29.4% QoQ, +343.7% YoY), respectively.</li><li>This was led by Long Chau (70% of revenue, 123% in total NPAT-MI) thanks to favorable new openings(70% QoQ), the shifting consumer habit trend from GT to MT channels and benefiting from the pharmaceutical origin tightens, e-invoice process standadization.</li><li>Thereby, Long Chau's revenue/store/month reached VND 1.17 bn (+3% YoY) in H1/2025, but recorded a slight decrease of 3% QoQ due to the rapid opening. </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>

In Q2-FY25, FRT recorded a positive performance with net revenue/NPAT-MI reaching VND 11,390.3 bn (-2.4% QoQ, +23.3% YoY) and VND 118.7 bn (-29.4% QoQ, +343.7% YoY), respectively.This was led by Long Chau (70% of revenue, 123% in total NPAT-MI) thanks to favorable new openings(70% QoQ), the shifting consumer habit trend from GT to MT channels and benefiting from the pharmaceutical origin tightens, e-invoice process standadization.Thereby, Long Chau's revenue/store/month reached VND 1.17 bn (+3% YoY) in H1/2025, but recorded a slight decrease of 3% QoQ due to the rapid opening. 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.

FRT - Long Chau Rides the Wave in Vietnam’s Fragmented Pharmacy

FPT Digital Retail

FRT - Long Chau Rides the Wave in Vietnam’s Fragmented Pharmacy