Announcement • May 16
Saigon Hotel Corporation, Annual General Meeting, Jun 30, 2026 Saigon Hotel Corporation, Annual General Meeting, Jun 30, 2026. Location: level 10, sai gon hotel, 41-47 dong du, sai gon ward, ho chi minh city Vietnam Reported Earnings • May 08
First quarter 2026 earnings released First quarter 2026 results: Revenue: ₫12.9b (up 5.9% from 1Q 2025). Net income: ₫5.28b (up 12% from 1Q 2025). Profit margin: 41% (up from 39% in 1Q 2025). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₫19,200, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 16x in the Hospitality industry in Vietnam. Total loss to shareholders of 9.7% over the past three years. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₫20,400, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 15x in the Hospitality industry in Vietnam. Total loss to shareholders of 9.5% over the past three years. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫21,700, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 15x in the Hospitality industry in Vietnam. Total loss to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₫20,500, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 13x in the Hospitality industry in Vietnam. Total loss to shareholders of 58% over the past three years. New Risk • Feb 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫253.5b (US$9.63m) 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 Shares are highly illiquid. High level of non-cash earnings (283% accrual ratio). Market cap is less than US$10m (₫253.5b market cap, or US$9.63m). Minor Risk Revenue is less than US$5m (₫50b revenue, or US$1.9m). Reported Earnings • Oct 22
Third quarter 2025 earnings released Third quarter 2025 results: EPS: ₫334. Revenue: ₫11.3b (up 8.9% from 3Q 2024). Net income: ₫4.13b (up 56% from 3Q 2024). Profit margin: 37% (up from 26% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫26,400, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 23x in the Hospitality industry in Vietnam. Total returns to shareholders of 19% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of ₫700 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 21 July 2025. Trailing yield: 22%. Within top quartile of Vietnamese dividend payers (7.8%). Higher than average of industry peers (1.9%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫22,000, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 11x in the Hospitality industry in Vietnam. Total loss to shareholders of 25% over the past three years. Announcement • Jun 04
Saigon Hotel Corporation, Annual General Meeting, Jun 19, 2025 Saigon Hotel Corporation, Annual General Meeting, Jun 19, 2025, at 08:30 SE Asia Standard Time. Location: 10th floor, saigon hotel, 41-47 dong du, ben nghe ward, district 1, ho chi minh Vietnam Declared Dividend • May 28
Dividend reduced to ₫700 Dividend of ₫700 is 85% lower than last year. Ex-date: 8th July 2025 Payment date: 21st July 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.1%. Sustainability & Growth The dividend has increased by an average of 245% per year over the past 2 years and payments have been stable during that time. Announcement • May 27
Saigon Hotel Corporation announces Annual dividend, payable on July 21, 2025 Saigon Hotel Corporation announced Annual dividend of VND 700.0000 per share payable on July 21, 2025, ex-date on July 08, 2025 and record date on July 09, 2025. Board Change • May 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 (6 non-independent directors). Chairman Ly Dao 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 22
First quarter 2025 earnings released First quarter 2025 results: Revenue: ₫12.2b (up 15% from 1Q 2024). Net income: ₫4.72b (up 9.5% from 1Q 2024). Profit margin: 39% (down from 41% in 1Q 2024). The decrease in margin was driven by higher expenses. Board Change • Apr 14
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 (6 non-independent directors). Chairman Ly Dao 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. New Risk • Apr 09
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: 20% Last year net profit margin: 36% 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 Shares are highly illiquid. Minor Risks Profit margins are more than 30% lower than last year (20% net profit margin). Revenue is less than US$5m (₫45b revenue, or US$1.7m). Market cap is less than US$100m (₫370.9b market cap, or US$14.1m). Board Change • Feb 07
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 (6 non-independent directors). Chairman Ly Dao 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 21
Full year 2024 earnings released Full year 2024 results: Revenue: ₫45.3b (up 7.3% from FY 2023). Net income: ₫14.2b (down 22% from FY 2023). Profit margin: 31% (down from 43% in FY 2023). The decrease in margin was driven by higher expenses. Board Change • Jan 03
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 (6 non-independent directors). Chairman Ly Dao 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 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫29,000, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 22x in the Hospitality industry in Vietnam. Total loss to shareholders of 11% over the past three years. Reported Earnings • Oct 19
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₫10.3b (down 4.9% from 3Q 2023). Net income: ₫2.65b (down 39% from 3Q 2023). Profit margin: 26% (down from 40% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₫29,700, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 22x in the Hospitality industry in Vietnam. Total loss to shareholders of 10.0% over the past three years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫31,200, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 22x in the Hospitality industry in Vietnam. Total returns to shareholders of 6.8% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫28,600, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 24x in the Hospitality industry in Vietnam. Total loss to shareholders of 15% over the past three years. Buy Or Sell Opportunity • Jul 29
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at ₫28,600. The fair value is estimated to be ₫36,595, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Jul 23
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₫10.3b (down 3.0% from 2Q 2023). Net income: ₫2.19b (down 50% from 2Q 2023). Profit margin: 21% (down from 41% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. New Risk • Jul 15
New minor risk - Dividend sustainability The company has a short dividend paying track record. Continuous dividend paying years: 1 Dividend yield: 14% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 0.7% per year over the past 5 years. High level of non-cash earnings (85% accrual ratio). Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Revenue is less than US$5m (₫43b revenue, or US$1.7m). Market cap is less than US$100m (₫435.2b market cap, or US$17.0m). Upcoming Dividend • Jul 05
Upcoming dividend of ₫4,760 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 23 July 2024. Trailing yield: 0.9%. Lower than top quartile of Vietnamese dividend payers (8.3%). Lower than average of industry peers (6.0%). Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫35,200, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 23x in the Hospitality industry in Vietnam. Total loss to shareholders of 13% over the past three years. Board Change • Jun 07
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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. Board Change • May 07
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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 • Feb 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₫24,200, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 18x in the Hospitality industry in Vietnam. Total loss to shareholders of 40% over the past three years. Board Change • Feb 05
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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. Board Change • Dec 29
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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. Board Change • Nov 07
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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 22
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₫10.5b (up 17% from 3Q 2022). Net income: ₫4.24b (up 22% from 3Q 2022). Profit margin: 41% (up from 39% in 3Q 2022). The increase in margin was driven by higher revenue. Board Change • Aug 18
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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 • Jul 21
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₫10.6b (up 72% from 2Q 2022). Net income: ₫4.39b (up 268% from 2Q 2022). Profit margin: 41% (up from 19% in 2Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 10
Upcoming dividend of ₫400 per share Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 28 July 2023. The company last paid an ordinary dividend in April 2013. The average dividend yield among industry peers is 1.1%. Reported Earnings • May 10
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₫9.84b (up 108% from 1Q 2022). Net income: ₫5.06b (up 349% from 1Q 2022). Profit margin: 52% (up from 24% in 1Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫43,200, the stock trades at a trailing P/E ratio of 59.7x. Average trailing P/E is 36x in the Hospitality industry in Vietnam. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫57,600, the stock trades at a trailing P/E ratio of 79.6x. Average trailing P/E is 36x in the Hospitality industry in Vietnam. Total returns to shareholders of 52% over the past three years. Board Change • Feb 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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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 • Dec 16
Investor sentiment improved over the past week After last week's 21% share price gain to ₫35,000, the stock trades at a trailing P/E ratio of 66.1x. Average trailing P/E is 25x in the Hospitality industry in Asia. Total loss to shareholders of 20% 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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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 25
Third quarter 2022 earnings released: EPS: ₫282 (vs ₫283 in 3Q 2021) Third quarter 2022 results: EPS: ₫282 (down from ₫283 in 3Q 2021). Revenue: ₫8.93b (down 15% from 3Q 2021). Net income: ₫3.49b (flat on 3Q 2021). Profit margin: 39% (up from 33% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Board Change • Oct 13
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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. Board Change • Sep 22
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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. Board Change • Jul 29
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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 • Jul 23
Second quarter 2022 earnings released: EPS: ₫97.00 (vs ₫5.00 in 2Q 2021) Second quarter 2022 results: EPS: ₫97.00 (up from ₫5.00 in 2Q 2021). Revenue: ₫6.18b (up 90% from 2Q 2021). Net income: ₫1.19b (up ₫1.13b from 2Q 2021). Profit margin: 19% (up from 1.8% in 2Q 2021). The increase in margin 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 48 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₫25,200, the stock trades at a trailing P/E ratio of 70.4x. Average trailing P/E is 28x in the Hospitality industry in Asia. Total loss to shareholders of 57% over the past three years. Board Change • Jun 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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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. 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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫358 (up from ₫355 in FY 2020). Revenue: ₫17.9b (up 2.0% from FY 2020). Net income: ₫4.43b (flat on FY 2020). Profit margin: 25% (in line with FY 2020). Revenue was in line with analyst estimates. Board Change • Jan 26
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman Ly Dao 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. Board Change • Dec 20
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. Chairman Ly Dao was the last director to join the board, commencing their role in 2016. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 19% share price gain to ₫43,800, the stock is trading at a trailing P/E ratio of 26.3x, up from the previous P/E ratio of 22x. This compares to an average P/E of 53x in the Hospitality industry in Vietnam. Total returns to shareholders over the past year were flat. Valuation Update With 7 Day Price Move • Oct 30
Market bids up stock over the past week After last week's 17% share price gain to ₫44,000, the stock is trading at a trailing P/E ratio of 43.7x, up from the previous P/E ratio of 37.4x. This compares to an average P/E of 32x in the Hospitality industry in Vietnam. Total returns to shareholders over the past three years are 16%. Valuation Update With 7 Day Price Move • Oct 28
Market bids up stock over the past week After last week's 18% share price gain to ₫40,500, the stock is trading at a trailing P/E ratio of 40.3x, up from the previous P/E ratio of 34x. This compares to an average P/E of 31x in the Hospitality industry in Vietnam. Total returns to shareholders over the past three years are 6.7%. 
