Board Change • May 08
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Vice Chairman of the Board Nguyen Thi Ngoc was the last director to join the board, commencing their role in 2016. 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 • Apr 26
First quarter 2026 earnings released First quarter 2026 results: Revenue: ₫10.2b (up 131% from 1Q 2025). Net income: ₫2.93b (up ₫2.96b from 1Q 2025). Profit margin: 29% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance. Announcement • Mar 05
SIMCO Song Da Joint Stock Company, Annual General Meeting, Apr 22, 2026 SIMCO Song Da Joint Stock Company, Annual General Meeting, Apr 22, 2026. Location: simco song da building, van phuc new urban area subdivision, ha dong ward, hanoi Vietnam Board Change • Feb 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Vice Chairman of the Board Nguyen Thi Ngoc was the last director to join the board, commencing their role in 2016. 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 • Jan 23
Full year 2025 earnings released: EPS: ₫98.56 (vs ₫3,821 loss in FY 2024) Full year 2025 results: EPS: ₫98.56 (up from ₫3,821 loss in FY 2024). Revenue: ₫21.5b (down 48% from FY 2024). Net income: ₫2.58b (up ₫102.7b from FY 2024). Profit margin: 12% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Board Change • Jan 09
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Vice Chairman of the Board Nguyen Thi Ngoc was the last director to join the board, commencing their role in 2016. 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 • Oct 26
Third quarter 2025 earnings released: ₫49.68 loss per share (vs ₫13.65 profit in 3Q 2024) Third quarter 2025 results: ₫49.68 loss per share (down from ₫13.65 profit in 3Q 2024). Revenue: ₫5.64b (down 46% from 3Q 2024). Net loss: ₫1.30b (down 464% from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • May 05
SIMCO Song Da Joint Stock Company, Annual General Meeting, Jun 19, 2025 SIMCO Song Da Joint Stock Company, Annual General Meeting, Jun 19, 2025. Location: hall of simco song da jsc, simco song da building, van phuc urban, van phuc ward, ha dong district, hanoi Vietnam Reported Earnings • Apr 22
First quarter 2025 earnings released First quarter 2025 results: Revenue: ₫4.40b (down 38% from 1Q 2024). Net loss: ₫29.9m (loss narrowed 87% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance. New Risk • Apr 08
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 8.1% 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 Share price has been highly volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$10m (₫115.3b market cap, or US$4.50m). Minor Risks Profit margins are more than 30% lower than last year (0.1% net profit margin). Revenue is less than US$5m (₫41b revenue, or US$1.6m). New Risk • Feb 20
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 5.3% 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. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₫152.0b market cap, or US$5.93m). Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (0.1% net profit margin). Revenue is less than US$5m (₫41b revenue, or US$1.6m). New Risk • Jan 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.1% Last year net profit margin: 16% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₫117.9b market cap, or US$4.72m). Minor Risks Profit margins are more than 30% lower than last year (0.1% net profit margin). Revenue is less than US$5m (₫41b revenue, or US$1.7m). Reported Earnings • Jan 28
Full year 2024 earnings released: EPS: ₫1.74 (vs ₫269 in FY 2023) Full year 2024 results: EPS: ₫1.74 (down from ₫269 in FY 2023). Revenue: ₫41.3b (down 7.5% from FY 2023). Net income: ₫45.6m (down 99% from FY 2023). Profit margin: 0.1% (down from 16% in FY 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: ₫13.65 (vs ₫142 in 3Q 2023) Third quarter 2024 results: EPS: ₫13.65 (down from ₫142 in 3Q 2023). Revenue: ₫10.5b (down 11% from 3Q 2023). Net income: ₫357.6m (down 90% from 3Q 2023). Profit margin: 3.4% (down from 32% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year whereas the company’s share price has fallen by 45% per year. Reported Earnings • Jul 22
Second quarter 2024 earnings released: EPS: ₫175 (vs ₫19.85 in 2Q 2023) Second quarter 2024 results: EPS: ₫175 (up from ₫19.85 in 2Q 2023). Revenue: ₫16.2b (up 6.0% from 2Q 2023). Net income: ₫4.59b (up ₫4.07b from 2Q 2023). Profit margin: 28% (up from 3.4% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₫7,200, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 20x in the Commercial Services industry in Vietnam. Total returns to shareholders of 47% over the past three years. New Risk • May 17
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 7.4% 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 Share price has been highly volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$10m (₫159.9b market cap, or US$6.23m). Minor Risk Revenue is less than US$5m (₫46b revenue, or US$1.8m). Announcement • May 12
SIMCO Song Da Joint Stock Company, Annual General Meeting, Jun 26, 2024 SIMCO Song Da Joint Stock Company, Annual General Meeting, Jun 26, 2024. Location: hall of simco song da jsc, simco song da building, van phuc urban area, van phuc, ha dong district, hanoi Vietnam Reported Earnings • Apr 24
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₫7.12b (up 22% from 1Q 2023). Net loss: ₫226.4m (loss narrowed 76% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Jan 25
Full year 2023 earnings released Full year 2023 results: Revenue: ₫44.7b (down 28% from FY 2022). Net income: ₫7.04b (up 202% from FY 2022). Profit margin: 16% (up from 3.8% in FY 2022). The increase in margin was driven by lower expenses. Reported Earnings • Nov 06
Third quarter 2023 earnings released: ₫24.56 loss per share (vs ₫25.74 loss in 3Q 2022) Third quarter 2023 results: ₫24.56 loss per share (improved from ₫25.74 loss in 3Q 2022). Revenue: ₫13.4b (up 80% from 3Q 2022). Net loss: ₫643.5m (loss narrowed 4.6% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 26
Second quarter 2023 earnings released Second quarter 2023 results: EPS: ₫19.85. Revenue: ₫15.3b (down 29% from 2Q 2022). Net income: ₫520.2m (down 77% from 2Q 2022). Profit margin: 3.4% (down from 10% in 2Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Apr 26
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₫5.85b (up 147% from 1Q 2022). Net loss: ₫935.3m (down ₫1.09b from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫6,400, the stock trades at a trailing P/E ratio of 72x. Average trailing P/E is 9x in the Commercial Services industry in Vietnam. Total returns to shareholders of 237% over the past three years. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: ₫88.88 (vs ₫891 in FY 2021) Full year 2022 results: EPS: ₫88.88 (down from ₫891 in FY 2021). Revenue: ₫62.1b (up 33% from FY 2021). Net income: ₫2.33b (down 90% from FY 2021). Profit margin: 3.8% (down from 50% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫7,100, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 8x in the Commercial Services industry in Vietnam. Total returns to shareholders of 115% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 30% share price gain to ₫6,100, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 8x in the Commercial Services industry in Vietnam. Total returns to shareholders of 79% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. No independent directors (8 non-independent directors). Director Nguyen Ngoc was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₫5,200, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 8x in the Commercial Services industry in Vietnam. Total returns to shareholders of 108% over the past three years. Reported Earnings • Oct 26
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ₫7.43b (up 22% from 3Q 2021). Net loss: ₫674.6m (down 173% from profit in 3Q 2021). Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorated over the past week After last week's 25% share price decline to ₫6,100, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 10x in the Commercial Services industry in Vietnam. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₫8,800, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 11x in the Commercial Services industry in Vietnam. Total returns to shareholders of 193% over the past three years. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: ₫84.90 (vs ₫193 in 2Q 2021) Second quarter 2022 results: EPS: ₫84.90 (down from ₫193 in 2Q 2021). Revenue: ₫21.4b (up 94% from 2Q 2021). Net income: ₫2.22b (down 56% from 2Q 2021). Profit margin: 10% (down from 46% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 16% share price gain to ₫15,200, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 15x in the Commercial Services industry in Vietnam. Total returns to shareholders of 485% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫17,500, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 17x in the Commercial Services industry in Vietnam. Total returns to shareholders of 525% over the past three years. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improved over the past week After last week's 25% share price gain to ₫23,200, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 19x in the Commercial Services industry in Vietnam. Total returns to shareholders of 700% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. No independent directors (8 non-independent directors). Director Nguyen Ngoc was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₫28,200, the stock trades at a trailing P/E ratio of 31.7x. Average trailing P/E is 19x in the Commercial Services industry in Vietnam. Total returns to shareholders of 1,028% over the past three years. Reported Earnings • Apr 10
Full year 2021 earnings released: EPS: ₫891 (vs ₫118 in FY 2020) Full year 2021 results: EPS: ₫891 (up from ₫118 in FY 2020). Revenue: ₫46.6b (up 69% from FY 2020). Net income: ₫23.3b (up ₫20.2b from FY 2020). Profit margin: 50% (up from 11% in FY 2020). The increase in margin was primarily driven by higher revenue. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS ₫35.25 (vs ₫9.00 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫6.10b (up 2.9% from 3Q 2020). Net income: ₫923.6m (up ₫1.16b from 3Q 2020). Profit margin: 15% (up from net loss in 3Q 2020). The move to profitability was primarily driven by lower expenses. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₫5,200, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 14x in the Commercial Services industry in Vietnam. Total returns to shareholders of 79% over the past three years. Reported Earnings • Aug 03
Second quarter 2021 earnings released: EPS ₫193 (vs ₫5.63 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫11.0b (up 122% from 2Q 2020). Net income: ₫5.06b (up ₫4.91b from 2Q 2020). Profit margin: 46% (up from 3.0% in 2Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 20% share price gain to ₫4,900, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 14x in the Commercial Services industry in Vietnam. Total returns to shareholders of 63% over the past three years. Is New 90 Day High Low • Mar 12
New 90-day low: ₫3,900 The company is down 11% from its price of ₫4,400 on 10 December 2020. The Vietnamese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 19
New 90-day low: ₫4,400 The company is down 6.0% from its price of ₫4,700 on 21 August 2020. The Vietnamese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 9.0% over the same period. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total losses of ₫46.8b, with losses widening by 131% from the prior year. Total revenue was ₫27.5b over the last 12 months, down 36% from the prior year. 
