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

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External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>In Q1/2026, net revenue rose by 12% YoY, while NPAT-MI increased by 37.8% YoY, mainly due to a 63% growth in value-added products.</li><li>Specifically, revenue from frozen fillets increased by 14% YoY, by-products by 17%, C&amp;G by 21%, and Sa Giang by 16% YoY.</li><li>Regarding consumption markets, the US remained the main driver, with revenue increasing by 40% YoY, while the EU increased by 6% YoY and China decreased slightly by 3% YoY. </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 Q1/2026, net revenue rose by 12% YoY, while NPAT-MI increased by 37.8% YoY, mainly due to a 63% growth in value-added products.Specifically, revenue from frozen fillets increased by 14% YoY, by-products by 17%, C&amp;G by 21%, and Sa Giang by 16% YoY.Regarding consumption markets, the US remained the main driver, with revenue increasing by 40% YoY, while the EU increased by 6% YoY and China decreased slightly by 3% YoY. 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.

VHC - 2026-2027 Outlook: Focus on Profit Margin Optimization

Vinh Hoan

VHC - 2026-2027 Outlook: Focus on Profit Margin Optimization