Viet Dragon Securities - Analyst Pin-board ELC – Potential Growth Driver from Intelligent Transportation System (ITS) Services

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Viet Dragon Securities

Son Tran

Analyst Pin-board ELC – Potential Growth Driver from Intelligent Transportation System (ITS) Services

· ELC is a technology enterprise with good competitive position in core businesses including telecommunications solutions, intelligent transportation system (ITS), security and defense. We expect the application of ITS to expressways, with a huge market size, to be the main growth driver for ELC in the medium term thanks to the accelerating progress of disbursement of public spending and these projects’ construction.

· The company is in the process of restructuring its structure to diversify customer base (exploiting new customer groups in the private sector instead of focusing on government ministries and State-owned enterprises) by providing several technology applications/services developed from its own core technology.

· ELC is currently trading at a P/E of 30.9x, quite high compared to the current 3-year average of 19.4x.

04/01/2022 6 EN

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Viet Dragon Securities

Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.

RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”

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Analysts

Son Tran

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Analyst Pin-board ELC – Potential Growth Driver from Intelligent Transportation System (ITS) Services

HEADING TOWARDS THE 1,500 POINT AREA

MID-YEAR INVESTMENT STRATEGY 2025: THE UNIQUE PATH

RESUMES UPWARD TREND

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