Q3 results (dated 3rd November 2025):
- Petrolimex (PLX VN): 9M revenue was VND228 trillion (about USD8.67 billion, up +7% YoY) and 9M net income was VND2.11 trillion (about USD80.3 million, down -10% YoY), despite a bullish Q3 with year-over-year growth rate of 827%. PLX VN closed at VND34,300 per share, thus 16.4x P/E and 1.7x P/B.
- PV Oil (OIL VN): 9M revenue was VND105.5 trillion (about USD4.01 billion, up +11% YoY) and 9M net income was VND332 billion (about USD12.6 million, down -4% YoY), despite a bullish Q3 with year-over-year growth rate of 351%. OIL VN was last traded at VND10,600 per share, suggesting 27.6x P/E and 1.0x P/B.
- PV Gas (GAS VN): 9M revenue clocked at VND91.45 trillion (about USD3.48 billion, up +16% YoY) and 9M net income was VND10.05 trillion (about USD382.2 million, up +20% YoY). GAS VN closed at VND61,500 per share, thus 12.3x P/E and 2.3x P/B.
- Ca Mau Fertilizer (DCM VN): 9M revenue was VND12.43 trillion (about USD473 million, up +35% YoY) and 9M net income was VND1.53 trillion (about USD58 million, up +45% YoY). The firm already completed 92% and 197% of revenue and profit target, respectively. DCM VN closed at VND34,550 per share, thus 9.7x P/E and 1.7x P/B.
CTIN (ICT VN): VNPT offers over 10 million shares
The largest shareholder of CTIN, the state-backed telco VNPT, is selling a block of over 10 million shares at the lot price of nearly VND750 billion (about USD28.5 million), equivalent to about VND74,100 per share. Following latest guidance, an auction for CTIN (ICT VN) shares will be held on the 17th of December at the Hanoi Stock Exchange (HNX).
By the end of Q3 2025, the company recorded revenue of VND1.18 trillion (about USD45 million, down -7% YoY) and net income of VND20 billion (about USD760,000, up +7% YoY). ICT VN closed at price ceiling of VND19,300 per share on 3rd November 2025, hence 19.2x P/E and 1.0x P/B.
PC1 Group (PC1 VN): Announced an upcoming bonus issue while pausing the 2025 ESOP
The firm expects to issue 53.6 million additional shares to its existing shareholders at 100:15 ratio while pausing issue of over 10.7 million additional shares (equivalent to 3% of current shares outstanding), following the approved 2025 ESOP. PC1 explained that the 2025 ESOP needed to be reviewed, mostly related to legal compliance. In 9M 2025, PC1 generated net income of VND498 billion (about USD19 million, up +25% YoY). PC1 VN closed at VND24,150 per share on 3rd November 2025, resulting 15.2x P/E and 1.4x P/B.
