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

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>3Q25 earnings began showing clear signs of improvement, with revenue reaching VND2,871bn (+26% YoY; +62.9% QoQ) and net profit surging to a three-year high of VND842bn (+64.7% YoY; +183% QoQ).</li><li>This solid recovery was mainly driven by the acceleration of industrial land handover activities, with an estimated 35 ha delivered (+52% YoY), generating VND1,296 bn in onetime revenue (+59% YoY).</li><li>In addition to expediting land for handover, we note that the strong YoY growth was partly supported by a low base in 3Q24, when leasing demand had already started to soften due to heightened tariff concerns and increased geopolitical uncertainty surrounding U.S. trade policy.</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>

3Q25 earnings began showing clear signs of improvement, with revenue reaching VND2,871bn (+26% YoY; +62.9% QoQ) and net profit surging to a three-year high of VND842bn (+64.7% YoY; +183% QoQ).This solid recovery was mainly driven by the acceleration of industrial land handover activities, with an estimated 35 ha delivered (+52% YoY), generating VND1,296 bn in onetime revenue (+59% YoY).In addition to expediting land for handover, we note that the strong YoY growth was partly supported by a low base in 3Q24, when leasing demand had already started to soften due to heightened tariff concerns and increased geopolitical uncertainty surrounding U.S. trade policy.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.

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