Reported Earnings • Jul 28
Second quarter 2026 earnings released: EPS: ₫574 (vs ₫482 in 2Q 2025) Second quarter 2026 results: EPS: ₫574 (up from ₫482 in 2Q 2025). Revenue: ₫144.1b (up 171% from 2Q 2025). Net income: ₫26.0b (up 116% from 2Q 2025). Profit margin: 18% (down from 23% in 2Q 2025). Reported Earnings • Apr 26
First quarter 2026 earnings released: EPS: ₫424 (vs ₫356 in 1Q 2025) First quarter 2026 results: EPS: ₫424 (up from ₫356 in 1Q 2025). Revenue: ₫89.1b (up 108% from 1Q 2025). Net income: ₫18.6b (up 130% from 1Q 2025). Profit margin: 21% (up from 19% in 1Q 2025). New Risk • Apr 06
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 7.2% 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. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (157% accrual ratio). Shareholders have been substantially diluted in the past year (94% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Market cap is less than US$100m (₫571.4b market cap, or US$21.7m). Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫13,000, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 10x in the Infrastructure industry in Vietnam. Total returns to shareholders of 200% over the past three years. New Risk • Mar 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 94% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (122% accrual ratio). Shareholders have been substantially diluted in the past year (94% increase in shares outstanding). Minor Risks Profit margins are more than 30% lower than last year (21% net profit margin). Market cap is less than US$100m (₫518.7b market cap, or US$19.7m). New Risk • Mar 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫258.9b (US$9.84m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (122% accrual ratio). Market cap is less than US$10m (₫258.9b market cap, or US$9.84m). Minor Risk Profit margins are more than 30% lower than last year (21% net profit margin). Annuncio • Feb 06
Marine Supply and Engineering Service Joint Stock Company, Annual General Meeting, Mar 28, 2026 Marine Supply and Engineering Service Joint Stock Company, Annual General Meeting, Mar 28, 2026, at 15:00 SE Asia Standard Time. Location: ballroom, 2nd floor, melia vinpearl hai phong rivera hotel, manhattan 9, vinhome imperia, hong bang district, hai phong city Vietnam Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫14,600, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 12x in the Infrastructure industry in Vietnam. Total returns to shareholders of 254% over the past three years. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: ₫966 (vs ₫337 in 3Q 2024) Third quarter 2025 results: EPS: ₫966 (up from ₫337 in 3Q 2024). Revenue: ₫72.0b (up 109% from 3Q 2024). Net income: ₫21.9b (up 186% from 3Q 2024). Profit margin: 31% (up from 22% in 3Q 2024). The increase in margin was driven by higher revenue. Reported Earnings • Jul 26
Second quarter 2025 earnings released: EPS: ₫795 (vs ₫1,665 in 2Q 2024) Second quarter 2025 results: EPS: ₫795 (down from ₫1,665 in 2Q 2024). Revenue: ₫53.2b (up 77% from 2Q 2024). Net income: ₫12.0b (down 52% from 2Q 2024). Profit margin: 23% (down from 84% in 2Q 2024). The decrease in margin was driven by higher expenses. Buy Or Sell Opportunity • Jun 12
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 43% to ₫22,000. The fair value is estimated to be ₫17,605, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 92% over the last year. Earnings per share has grown by 26%. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫21,200, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 13x in the Infrastructure industry in Vietnam. Total returns to shareholders of 181% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫28,300, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 13x in the Infrastructure industry in Vietnam. Total returns to shareholders of 325% over the past three years. Reported Earnings • Apr 30
First quarter 2025 earnings released: EPS: ₫535 (vs ₫357 in 1Q 2024) First quarter 2025 results: EPS: ₫535 (up from ₫357 in 1Q 2024). Revenue: ₫42.8b (up 124% from 1Q 2024). Net income: ₫8.09b (up 50% from 1Q 2024). Profit margin: 19% (down from 28% in 1Q 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫19,100, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 12x in the Infrastructure industry in Vietnam. Total returns to shareholders of 145% over the past three years. Annuncio • Mar 20
Marine Supply and Engineering Service Joint Stock Company (HNX:MAC) agreed to acquire 36% stake in An Bien Shipping Lines Corp from Sao A D.c Investment Corporation for approximately VND 120 billion. Marine Supply and Engineering Service Joint Stock Company (HNX:MAC) agreed to acquire 36% stake in An Bien Shipping Lines Corp from Sao A D.c Investment Corporation for approximately VND 120 billion on March 18, 2025. The transaction will be financed through equity investment of VND 227.1 billion.
For the period ending December 31, 2024, An Bien Shipping Lines Corp reported total revenue of VND 209.68 billion, EBIT of VND 98.25 billion and net income of VND 78.15 billion. As of December 31, 2024, An Bien Shipping Lines Corp reported total assets of VND 1.31 trillion and total common equity of VND 415.48 billion.
The transaction is subject to approval of offer by acquirer shareholders. Annuncio • Mar 13
Marine Supply and Engineering Service Joint Stock Company, Annual General Meeting, Apr 05, 2025 Marine Supply and Engineering Service Joint Stock Company, Annual General Meeting, Apr 05, 2025. Location: at the company`s headquarters, at 8a van my street, van my ward, ngo quyen district, hai phong Vietnam New Risk • Feb 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫93.6b (US$3.74m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₫93.6b market cap, or US$3.74m). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (37% net profit margin). Revenue is less than US$5m (₫124b revenue, or US$5.0m). New Risk • Jun 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 7.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$10m (₫222.6b market cap, or US$8.68m). New Risk • Dec 08
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 7.7% 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. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Market cap is less than US$10m (₫225.6b market cap, or US$9.29m). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). Annuncio • May 27
An unknown buyer acquired 5.29% stake in Da Nang Logistics Joint Stock Company from Marine Supply and Engineering Service Joint Stock Company (HNX:MAC). An unknown buyer acquired 5.29% stake in Da Nang Logistics Joint Stock Company from Marine Supply and Engineering Service Joint Stock Company (HNX:MAC) on May 23, 2023.An unknown buyer completed the acquisition of 5.29% stake in Da Nang Logistics Joint Stock Company from Marine Supply and Engineering Service Joint Stock Company (HNX:MAC) on May 23, 2023. 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 Tran Dung was the last director to join the board, commencing their role in 2017. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
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 Tran Dung was the last director to join the board, commencing their role in 2017. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Jan 28
New 90-day low: ₫5,500 The company is down 10.0% from its price of ₫6,100 on 29 October 2020. The Vietnamese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 31
New 90-day low: ₫5,700 The company is down 7.0% from its price of ₫6,100 on 02 October 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 22% over the same period. Is New 90 Day High Low • Oct 23
New 90-day high: ₫7,000 The company is up 63% from its price of ₫4,300 on 24 July 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 21% over the same period. 
