Published Date: 04/03/2025
- 4Q24 NP declined 37% yoy, mainly due to provisions from Hong Phong 4. 2024 NP decreased by 13% yoy, completing 80% of MBS’s projections.
- 2025-26 net profit is expected to grow at a 48% CAGR, primarily driven by the handover of Charm Villa Phase 3 (108 units).
- Reiterate ADD with lower TP of 32,700VND/share.
