BIDV Insurance (BIC VN): Bonus issue passed
The P&C insurer announced its forthcoming bonus issue, in which shareholders will receive 723 shares for every 1,000 shares held, alongside with the cash dividend of VND1,500 per share approved previously. The company also plans to pay stock dividends in the next 5 years, and the payout ratio will be determined annually. For 2025, it targets net earned premium of VND5.6 trillion (about USD215 million, up +11% YoY) and pre-tax income of VND710 billion (about USD27.2 million, up +9% YoY). BIC VN closed at price ceiling of VND37,100 per share on 13th June 2025, thus 2.1x P/E and 1.3x P/B.
VNG Corporation (VNZ VN): Targets record high in 2025 revenue
VNG plans to generate VND10.8 trillion (about USD415 million, up +16.5% YoY) and expects corresponding net loss of VND-561 billion (about USD-21.5 million, bullish compared to last year). Besides, the company will change its name into - VNG Group - but the reason behind has been disclosed yet. “AI-First” strategy was announced by VNG Corporation, targeting advanced technology development and cost optimization. VNZ VN was last traded at VND347,000 per share on 13th June 2025, suggesting 9.1x P/B while P/E was still negative.
Ton Dong A Corporation (GDA VN): Bearish outlook for 2025
The metal sheet producer proposed a major change in strategy by weighting the domestic market more to cope with rising protectionism and to capture the domestic demand for galvanized metal sheets. The firm expects to produce 780,000 tons of steel products in 2025, resulting a sales forecast of VND18 trillion (about USD691 million, down -6% YoY) and net income of VND300 billion (about USD11.5 million, down -12% YoY). The company announced its plan to build a new factory progressively, increasing annual capacity from 800,000 tons up to 1.2 million tons. Meanwhile, shareholders approved the HOSE listing plan, expecting shares to be listed in the 2025 – 2026 period. GDA VN was last traded at VND19,500 per share on 13th June 2025, implying 7.2x P/E and 0.5x P/B.
Khai Hoan Land (KHG VN): Started the construction phase of a key project
The real estate company and the contractor, Phuoc Thanh Construction, held a signing ceremony, celebrating their cooperation in completing Khai Hoan Prime – a residential project in the south of HCMC. In Q1 2025, Khai Hoan Land reported revenue of VND100 billion (about USD3.8 million, up +173.4% YoY) and net income of VND15 billion (about USD576,000, up +18.6% YoY).KHG VN closed at VND6,040 per share on 13th June 2025, thus 45.9x P/E and 0.5x P/B.
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