Annuncio • Apr 30
Livzon Pharmaceutical Group Inc. (SZSE:000513) acquired 67.88% stake in Imexpharm Corporation (HOSE:IMP) from SK Investment Vina III Pte Ltd., Cong Ty Co Phan Dau Tu Binh Minh Kim and KBA Investment joint stock company for VND 6 trillion. Livzon Pharmaceutical Group Inc. (SZSE:000513) signed Framework Agreement to acquire 77.94% stake in Imexpharm Corporation (HOSE:IMP) from SK Investment Vina III Pte Ltd., Cong Ty Co Phan Dau Tu Binh Minh Kim and KBA Investment joint stock company for VND 6.9 trillion on May 22, 2025. A cash consideration of VND 5.73 trillion will be paid by Livzon Pharmaceutical Group Inc. As part of consideration, VND 5.73 trillion is paid towards common equity of Imexpharm Corporation. The Acquisition will be funded by the Group’s internal resources. The Acquisition will lay a solid foundation for the Group’s further expansion into overseas markets, supporting its long-term strategy of internationalization and sustainable development in the pharmaceutical sector. On December 29, 2025, the parties signed Amendment Agreement to Framework Agreement agreeing to increase the maximum number of shares to be acquired through this proposed public tender offer to 120,059,970 shares, 77.94% stake, in accordance with Imexpharm Corporation’s foreign ownership cap requirements, and the Company will pay a maximum of VND 6,891,442,278,000. As of March 6, 2026 Livzon Pharmaceutical Group has officially received approval from the State Securities Commission of Vietnam. This allows them to proceed with a voluntary public tender offer for IMP shares.
The transaction is subject to approval by merger control clearance, Permissible Foreign Ownership Limit, Absence of Material Adverse Change and other Customary Conditions. The number of shares intended to be sold by the Target Company’s shareholders does not reach the minimum threshold of 99,839,990 shares, representing 64.81% of the Target Company’s charter capital. The expected completion of the transaction is the date falling nine (9) months from the date of the Agreement. The transaction has been approved by the board of directors of Livzon Pharmaceutical Group Inc. Ernst & Young Vietnam Limited acted as due diligence provider to SK Investment Vina III Pte Ltd.
Livzon Pharmaceutical Group Inc. (SZSE:000513) completed the acquisition of 67.88% stake in Imexpharm Corporation (HOSE:IMP) from SK Investment Vina III Pte Ltd., Cong Ty Co Phan Dau Tu Binh Minh Kim and KBA Investment joint stock company for VND 6 trillion on April 29, 2026. Shareholders of Livzon Pharmaceutical Group Inc. have reached the minimum threshold of 99,839,990 shares, representing 64.81% of Imexpharm Corporation. Reported Earnings • Mar 28
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: ₫1,976 (up from ₫1,791 in FY 2024). Revenue: ₫2.44t (up 11% from FY 2024). Net income: ₫304.4b (up 10% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Pharmaceuticals industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Feb 09
Imexpharm Corporation, Annual General Meeting, Apr 22, 2026 Imexpharm Corporation, Annual General Meeting, Apr 22, 2026. Reported Earnings • Jan 22
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: ₫1,976 (up from ₫1,932 in FY 2024). Revenue: ₫2.44t (up 11% from FY 2024). Net income: ₫304.4b (up 2.3% from FY 2024). Profit margin: 13% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: ₫429 (vs ₫436 in 3Q 2024) Third quarter 2025 results: EPS: ₫429. Revenue: ₫573.6b (up 5.3% from 3Q 2024). Net income: ₫76.9b (up 6.2% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Pharmaceuticals industry in Asia. Upcoming Dividend • Jun 02
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 09 June 2025. Payment date: 09 July 2025. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Vietnamese dividend payers (8.0%). Lower than average of industry peers (5.6%). Annuncio • May 22
Livzon Pharmaceutical Group Inc. (SZSE:000513) signed Framework Agreement to acquire 64.81% stake in Imexpharm Corporation (HOSE:IMP) from SK Investment Vina III Pte Ltd. and others for VND 5.7 trillion. Livzon Pharmaceutical Group Inc. (SZSE:000513) signed Framework Agreement to acquire 64.81% stake in Imexpharm Corporation (HOSE:IMP) from SK Investment Vina III Pte Ltd. and others for VND 5.7 trillion on May 22, 2025. A cash consideration of VND 5.73 trillion will be paid by Livzon Pharmaceutical Group Inc. As part of consideration, VND 5.73 trillion is paid towards common equity of Imexpharm Corporation. The Acquisition will be funded by the Group’s internal resources. The Acquisition will lay a solid foundation for the Group’s further expansion into overseas markets, supporting its long-term strategy of internationalization and sustainable development in the pharmaceutical sector.
The transaction is subject to approval by merger control clearance, Permissible Foreign Ownership Limit, Absence of Material Adverse Change and other Customary Conditions. The expected completion of the transaction is the date falling nine (9) months from the date of the Agreement. Reported Earnings • Apr 19
First quarter 2025 earnings released: EPS: ₫448 (vs ₫371 in 1Q 2024) First quarter 2025 results: EPS: ₫448 (up from ₫371 in 1Q 2024). Revenue: ₫594.1b (up 21% from 1Q 2024). Net income: ₫74.5b (up 42% from 1Q 2024). Profit margin: 13% (up from 11% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. New Risk • Mar 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annuncio • Mar 05
Imexpharm Corporation, Annual General Meeting, Apr 25, 2025 Imexpharm Corporation, Annual General Meeting, Apr 25, 2025. Reported Earnings • Jan 24
Full year 2024 earnings released: EPS: ₫1,932 (vs ₫1,653 in FY 2023) Full year 2024 results: EPS: ₫1,932 (up from ₫1,653 in FY 2023). Revenue: ₫2.21t (up 11% from FY 2023). Net income: ₫320.9b (up 26% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Annuncio • Nov 29
Imexpharm Corporation Appoints Sung Min Woo as Chairperson of the Nomination and Compensation Committee Under the Board of Directors Imexpharm Corporation announced the Board of Directors' Decision No. 08/2024/QÐ-HÐQT-IMP dated November 27, 2024, regarding the appointment of Mr. Sung Min Woo, Chairperson of the Board of Directors, as the Chairperson of the Nomination and Compensation Committee under the Board of Directors. Reported Earnings • Oct 22
Third quarter 2024 earnings released: EPS: ₫436 (vs ₫404 in 3Q 2023) Third quarter 2024 results: EPS: ₫436 (up from ₫404 in 3Q 2023). Revenue: ₫544.7b (up 17% from 3Q 2023). Net income: ₫72.4b (up 3.9% from 3Q 2023). Profit margin: 13% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Pharmaceuticals industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. New Risk • Sep 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • Aug 23
Price target increased by 9.2% to ₫78,485 Up from ₫71,861, the current price target is an average from 3 analysts. New target price is 8.1% below last closing price of ₫85,400. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₫4,012 for next year compared to ₫3,307 last year. Reported Earnings • Jul 23
Second quarter 2024 earnings released: EPS: ₫794 (vs ₫851 in 2Q 2023) Second quarter 2024 results: EPS: ₫794 (down from ₫851 in 2Q 2023). Revenue: ₫517.2b (up 18% from 2Q 2023). Net income: ₫65.9b (down 4.8% from 2Q 2023). Profit margin: 13% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Pharmaceuticals industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫81,600, the stock trades at a trailing P/E ratio of 26.1x. Average forward P/E is 19x in the Pharmaceuticals industry in Vietnam. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫73,716 per share. Upcoming Dividend • Jul 05
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 23 July 2024. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Vietnamese dividend payers (8.3%). Lower than average of industry peers (3.4%). Annuncio • Jul 04
Imexpharm Corporation Announces Dividend for the Year 2023, Payable on July 23, 2024 Imexpharm Corporation announced Dividend Payout ratio 10% share based on par value (1 share will receive 1,000 VND) for the year 2023. Payment time is July 23, 2024. Ex-right date: July 11, 2024. Record date: July 12, 2024. Reported Earnings • Apr 23
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₫491.1b (up 2.5% from 1Q 2023). Net income: ₫61.9b (up 14% from 1Q 2023). Profit margin: 13% (up from 11% in 1Q 2023). Annuncio • Mar 27
Imexpharm Corporation, Annual General Meeting, Apr 26, 2024 Imexpharm Corporation, Annual General Meeting, Apr 26, 2024, at 07:45 SE Asia Standard Time. Location: 5th Floor. Hilton Saigon Hotel, No. 11 Me Unh Square, Ben Nghe Ward, District 1, Ho Chi Minh City Vietnam Reported Earnings • Jan 21
Full year 2023 earnings released: EPS: ₫3,637 (vs ₫2,810 in FY 2022) Full year 2023 results: EPS: ₫3,637 (up from ₫2,810 in FY 2022). Revenue: ₫1.99t (up 21% from FY 2022). Net income: ₫299.6b (up 52% from FY 2022). Profit margin: 15% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Annuncio • Dec 20
Imexpharm Corporation Approves Election of Hoang Duc Hung as an Independent Member of the Board of Directors Imexpharm Corporation announced that at the General Meeting of Shareholders held on December 19, 2023, approved election of Mr. Hoang Duc Hung as an independent member of the Board of Directors of the Company for the term 2023-2027. Year of birth: 1973, Literacy: Postgraduate. Professional level: Master of International Finance (Oxford Brookes), CIA (IIA), FCCA, FCPA Aust, VACPA. Nationality: Vietnamese. Employment history: From 11/1994 to 06/2014: Audit Director, Leadership of Advisory Services Division, Leadership of the Government and Public Sector Clients Division, Ernst & Young (EY) Vietnam Limited. From 07/2014 to 09/2016: International Consultant - World Bank, supporting the Ministry of Finance in building the Internal audit framework in Vietnam. From 10/2016 to 11/2020: Deputy General Director - PwC Vietnam Limited. From 12/2020 to present: Chairman of the BOD - of CGS Vietnam Governance Consultancy Joint Stock Company; Board Member - Gentis Testing Service Joint Stock Company. From 09/2022 to present: Vice President, Executive Committee Member of Vietnam Independent Directors Association; President of Institute of Internal Auditors Vietnam - IIA Vietnam Chapter. Current positions at other Organizations: President of Institute of Internal Auditors Vietnam - IIA Vietnam Chapter. Vice President, Executive Committee Member of Vietnam Independent Directors Association. Chairman of CGS Vietnam Governance Consultancy Joint Stock Company. Members of BOD of Gentis Testing Service Joint Stock Company. Independent BOD Member of No Va Land Investment Group Corporation. Reported Earnings • Oct 21
Third quarter 2023 earnings released: EPS: ₫889 (vs ₫817 in 3Q 2022) Third quarter 2023 results: EPS: ₫889 (up from ₫817 in 3Q 2022). Revenue: ₫466.9b (up 12% from 3Q 2022). Net income: ₫69.7b (up 25% from 3Q 2022). Profit margin: 15% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Upcoming Dividend • Sep 28
Upcoming dividend of ₫1,000 per share at 1.5% yield Eligible shareholders must have bought the stock before 05 October 2023. Payment date: 20 October 2023. Trailing yield: 1.5%. Lower than top quartile of Vietnamese dividend payers (8.8%). Lower than average of industry peers (3.2%). Annuncio • Sep 19
Imexpharm Corporation Announces Dividend, Payable on October 20, 2023 Imexpharm Corporation announced Dividend Payout ratio 10% share based on par value (1 share will receive 1,000 VND). Payment time is October 20, 2023. Upcoming Dividend • Aug 31
Upcoming dividend of ₫1,000 per share at 1.5% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 06 October 2023. Trailing yield: 1.5%. Lower than top quartile of Vietnamese dividend payers (8.6%). Lower than average of industry peers (3.2%). Price Target Changed • Aug 17
Price target increased by 14% to ₫84,000 Up from ₫73,633, the current price target is provided by 1 analyst. New target price is 20% above last closing price of ₫69,800. Stock is up 10% over the past year. The company is forecast to post earnings per share of ₫4,858 for next year compared to ₫2,951 last year. Reported Earnings • Jul 20
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₫439.7b (up 24% from 2Q 2022). Net income: ₫79.7b (up 66% from 2Q 2022). Profit margin: 18% (up from 14% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Pharmaceuticals industry in Asia. Annuncio • May 07
Imexpharm Corporation Appoints Chun Chaerhan as Chairperson of the Board of Directors Imexpharm Corporation at its board meeting held on April 28, 2023, approved the election of Ms. Chun Chaerhan to hold the position of Chairperson of the Board of Directors of the company. The Chairperson of the Board of Directors is responsible for performing her obligations and powers in accordance with the Company's Charter, the Internal Regulations on Governance, the Operating Rules of the Board of Directors, and the provisions of law. Reported Earnings • Mar 28
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₫2,951 (up from ₫2,603 in FY 2021). Revenue: ₫1.64t (up 30% from FY 2021). Net income: ₫196.7b (up 13% from FY 2021). Profit margin: 12% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 1.5%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 19
Full year 2022 earnings released: EPS: ₫3,495 (vs ₫2,600 in FY 2021) Full year 2022 results: EPS: ₫3,495 (up from ₫2,600 in FY 2021). Revenue: ₫1.64t (up 30% from FY 2021). Net income: ₫234.0b (up 35% from FY 2021). Profit margin: 14% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 14% per year. Price Target Changed • Jan 04
Price target decreased to ₫66,600 Down from ₫73,633, the current price target is an average from 2 analysts. New target price is 11% above last closing price of ₫60,200. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₫3,444 for next year compared to ₫2,600 last year. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 18% share price gain to ₫62,500, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Pharmaceuticals industry in Asia. Total returns to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫56,442 per share. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Hung Truong was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: ₫858 (vs ₫413 in 3Q 2021) Third quarter 2022 results: EPS: ₫858 (up from ₫413 in 3Q 2021). Revenue: ₫417.8b (up 63% from 3Q 2021). Net income: ₫55.8b (up 78% from 3Q 2021). Profit margin: 13% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Aug 25
Imexpharm Corporation announced that it has received funding from SK Group Ltd. Imexpharm Corporation announced that it has received a round of funding from SK Group Ltd. on August 25, 2022. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: ₫615 (vs ₫684 in 2Q 2021) Second quarter 2022 results: EPS: ₫615. Revenue: ₫354.5b (up 12% from 2Q 2021). Net income: ₫46.6b (up 2.3% from 2Q 2021). Profit margin: 13% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 25%, compared to a 24% growth forecast for the industry in Vietnam. Price Target Changed • Jul 14
Price target increased to ₫79,000 Up from ₫73,633, the current price target is an average from 2 analysts. New target price is 27% above last closing price of ₫62,000. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₫3,069 for next year compared to ₫2,600 last year. Annuncio • Jun 01
Imexpharm Corporation Announces Personnel Change On May 25, 2022, Imexpharm Corporation announces the appointment of Mrs. Han Thi Khanh Vinh – member of BOD as Head of Internal Audit Subcommittee and Risk Management Department to replace Mr. Tran Anh Tuan from May 24, 2022. Upcoming Dividend • May 18
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 25 May 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Vietnamese dividend payers (7.3%). Lower than average of industry peers (3.6%). Annuncio • May 14
Imexpharm Corporation Announces Cash Dividend for 2021, Payable on June 24, 2022 Imexpharm Corporation announced to pay cash dividend for 2021. Exercise ratio: 15.0% (VND 1,500/share). Payment date: June 24, 2022. Ex-right date: May 25, 2022. Record date: May 26, 2022. Board Change • Apr 27
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Director Hung Truong was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 13
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₫2,600 (down from ₫2,773 in FY 2020). Revenue: ₫1.27t (down 7.5% from FY 2020). Net income: ₫173.4b (down 3.5% from FY 2020). Profit margin: 14% (in line with FY 2020). Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 19%, compared to a 19% growth forecast for the pharmaceuticals industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 21
Third quarter 2021 earnings released: EPS ₫413 (vs ₫478 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫256.2b (down 12% from 3Q 2020). Net income: ₫31.3b (down 39% from 3Q 2020). Profit margin: 12% (down from 18% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 10
Price target increased to ₫75,300 Up from ₫68,400, the current price target is an average from 3 analysts. New target price is 5.5% above last closing price of ₫71,400. Stock is up 63% over the past year. Reported Earnings • Jul 23
Second quarter 2021 earnings released: EPS ₫651 (vs ₫1,180 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫317.4b (up 9.9% from 2Q 2020). Net income: ₫49.3b (up 36% from 2Q 2020). Profit margin: 16% (up from 13% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 22% per year. Upcoming Dividend • Jun 16
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 23 June 2021. Payment date: 16 July 2021. Trailing yield: 2.0%. Lower than top quartile of Vietnamese dividend payers (7.5%). Lower than average of industry peers (3.8%). Reported Earnings • Apr 24
First quarter 2021 earnings released: EPS ₫615 (vs ₫564 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ₫296.4b (down 2.4% from 1Q 2020). Net income: ₫41.0b (up 13% from 1Q 2020). Profit margin: 14% (up from 12% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year and the company’s share price has also increased by 19% per year. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS ₫2,773 (vs ₫2,225 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₫1.37t (down 2.4% from FY 2019). Net income: ₫179.7b (up 26% from FY 2019). Profit margin: 13% (up from 10% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 20% per year. Is New 90 Day High Low • Feb 18
New 90-day high: ₫60,600 The company is up 17% from its price of ₫52,000 on 20 November 2020. The Vietnamese market is also up 17% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Pharmaceuticals industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫26,735 per share. Analyst Estimate Surprise Post Earnings • Jan 23
Revenue and earnings miss expectations Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 39%, compared to a 247% growth forecast for the Pharmaceuticals industry in Vietnam. Reported Earnings • Jan 20
Full year 2020 earnings released: EPS ₫2,773 The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₫1.37t (down 2.4% from FY 2019). Net income: ₫209.7b (up 47% from FY 2019). Profit margin: 15% (up from 10% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 04
New 90-day high: ₫58,000 The company is up 21% from its price of ₫48,000 on 06 October 2020. The Vietnamese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫23,764 per share. Price Target Changed • Dec 23
Price target raised to ₫57,910 Up from ₫52,663, the current price target is an average from 2 analysts. The new target price is close to the current share price of ₫56,000. As of last close, the stock is up 49% over the past year. Is New 90 Day High Low • Dec 14
New 90-day high: ₫56,800 The company is up 15% from its price of ₫49,500 on 15 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫20,200 per share. Is New 90 Day High Low • Nov 25
New 90-day high: ₫54,900 The company is up 14% from its price of ₫48,100 on 27 August 2020. The Vietnamese market is also up 14% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Pharmaceuticals industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫16,865 per share. Is New 90 Day High Low • Nov 02
New 90-day high: ₫49,550 The company is up 11% from its price of ₫44,500 on 04 August 2020. The Vietnamese market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫16,865 per share. Reported Earnings • Oct 21
Third quarter earnings released Over the last 12 months the company has reported total profits of ₫180.0b, up 32% from the prior year. Total revenue was ₫1.40t over the last 12 months, up 11% from the prior year.