HDG – Update – Strong pipeline lay foundation for future growth

Posted:  Oct 14, 2025

  • Charm Villa remains the key growth driver, alongside positive solution for Hong Phong 4 and the development of several new plants in medium term.
  • 2025/26/27 Net profit is projected to grow 129%/ 98%/-10% yoy, respectively.
  • Reiterate ADD with higher TP of 40,200VND/share.
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