Viet Dragon Securities - Analyst Pin-board HPG update: Waiting for stronger growth

Report

Viet Dragon Securities

Analyst Pin-board HPG update: Waiting for stronger growth

Although the steel industry was hit by the COVID-19, HPG’s net income in 6M2020 increased by 30% YoY and was equivalent to 55.6% of the annual net income target. For the remaining of the year, we believe HPG will meet and even exceed its annual targets to reach our net income forecast of roughly VND 11,000 billion. Firstly, we expect that steel demand will be supported by the recovery after COVID-19 and the strong public investment from late-2020. Secondly, HPG has strong competitive advantages in the steel segment as the company still increased its market share in tough market conditions. Meanwhile, one of its main competitors left the rebar segment and other large manufacturers’ selling volume decreased significantly. Finally, hog prices are still high, and even higher than our expectations due to the low recovery of production volume.

07/07/2020 7 EN

Provider

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.”

See profile

Other Reports from Viet Dragon Securities

Phuong Nguyen

Phuong Nguyen

SURPASSING THE RESISTANCE AREA

The market continued to gain points and surpassed the 1,665-point resistance area but with decreasing liquidity. The liquidity decrease compared to the previous session shows that cash flow is still making an effort to uplift the market but is only concentrated in a few groups of stocks. Although the upward signal is not yet convincing and the gains are not widespread, the market has still broken above the 1,665-point resistance area. Concurrently, the previous upward trend is still positively influencing the market, so the market still has an opportunity to extend its upward phase before ...

August 22, 2025 August 22, 2025 10 EN

Trang To

Trang To

OCB – Non-interest income expansion supports profit growth

• OCB’s Q2/2025 business results recorded positive growth, with key highlights including (1) Non-interest income expansion driven by fee income growth (notably, banca activities posted a solid recovery while corporate advisory activities grew strongly) and stronger off-balance-sheet bad debt recoveries, (2) Asset quality improvement as net formation of NPLs declined significantly and NPL coverage ratio was strengthened. However, credit activities showed no clear improvement as credit growth in 1H2025 was below the sector average (9.9% YTD) and NIM continued to narrow. • For full-year 2025, we...

August 21, 2025 August 21, 2025 7 EN

Phuong Nguyen

Phuong Nguyen

EFFORT TO GAIN

The market continued to gain points but experienced a fairly strong intraday correction, finding support at the 1,615-point area. Liquidity increased compared to the previous session, indicating strong contention between profit-taking supply and supportive cash flow. Although the market is facing significant resistance pressure, the candlestick signals still show the effort of cash flow to uplift the market. Concurrently, the previous upward trend is still positively influencing the market, so the market still has an opportunity to move past the 1,665-point resistance area and extend its u...

August 21, 2025 August 21, 2025 10 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Analyst Pin-board HPG update: Waiting for stronger growth

SURPASSING THE RESISTANCE AREA

OCB – Non-interest income expansion supports profit growth

EFFORT TO GAIN

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe