Reported Earnings • Apr 25
First quarter 2026 earnings released: ₫225 loss per share (vs ₫230 loss in 1Q 2025) First quarter 2026 results: ₫225 loss per share (improved from ₫230 loss in 1Q 2025). Revenue: ₫26.7b (up 84% from 1Q 2025). Net loss: ₫901.8m (loss narrowed 1.8% from 1Q 2025). Announcement • Mar 05
Ha Noi - Hai Duong Beer Joint Stock Company, Annual General Meeting, Apr 20, 2026 Ha Noi - Hai Duong Beer Joint Stock Company, Annual General Meeting, Apr 20, 2026. Location: quan thanh street, binh han ward, hai duong province., hai duong city Vietnam Board Change • Feb 25
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. 7 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Jan 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫13,000, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 15x in the Beverage industry in Vietnam. Total returns to shareholders of 2.8% over the past three years. Board Change • Jan 12
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. 7 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 21
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₫62.1b (flat on 3Q 2024). Net income: ₫3.62b (down 24% from 3Q 2024). Profit margin: 5.8% (down from 7.7% in 3Q 2024). Reported Earnings • Jul 18
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ₫60.3b (down 7.4% from 2Q 2024). Net income: ₫5.36b (up 11% from 2Q 2024). Profit margin: 8.9% (up from 7.4% in 2Q 2024). The increase in margin was driven by lower expenses. Board Change • May 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. 7 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 16
First quarter 2025 earnings released First quarter 2025 results: Revenue: ₫14.5b (flat on 1Q 2024). Net loss: ₫918.1m (loss narrowed 11% from 1Q 2024). New Risk • Apr 12
New major risk - Revenue and earnings growth Earnings have declined by 0.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 0.4% per year over the past 5 years. Market cap is less than US$10m (₫64.0b market cap, or US$2.50m). Announcement • Mar 11
Ha Noi - Hai Duong Beer Joint Stock Company, Annual General Meeting, Apr 25, 2025 Ha Noi - Hai Duong Beer Joint Stock Company, Annual General Meeting, Apr 25, 2025. Location: the headquarters of hanoi, hai duong beer jsc, quan thanh street, binh han ward, hai duong province., hai duong Vietnam Reported Earnings • Jan 22
Full year 2024 earnings released Full year 2024 results: Revenue: ₫171.9b (up 3.2% from FY 2023). Net income: ₫6.31b (up 5.0% from FY 2023). Profit margin: 3.7% (up from 3.6% in FY 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫17,200, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 19x in the Beverage industry in Asia. Total returns to shareholders of 24% over the past three years. Upcoming Dividend • Aug 28
Upcoming dividend of ₫1,200 per share Eligible shareholders must have bought the stock before 04 September 2024. Payment date: 27 September 2024. Trailing yield: 6.9%. Lower than top quartile of Vietnamese dividend payers (8.2%). In line with average of industry peers (6.6%). Buy Or Sell Opportunity • Jul 31
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 4.9% to ₫17,100. The fair value is estimated to be ₫13,270, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Jul 20
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₫65.1b (up 46% from 2Q 2023). Net income: ₫4.83b (up 276% from 2Q 2023). Profit margin: 7.4% (up from 2.9% in 2Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • Apr 17
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₫14.4b (down 38% from 1Q 2023). Net loss: ₫1.03b (down ₫1.18b from profit in 1Q 2023). Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫17,300, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 23x in the Beverage industry in Asia. Total returns to shareholders of 7.9% over the past three years. Reported Earnings • Jan 17
Full year 2023 earnings released Full year 2023 results: Revenue: ₫166.6b (up 9.9% from FY 2022). Net income: ₫6.01b (down 43% from FY 2022). Profit margin: 3.6% (down from 6.9% in FY 2022). The decrease in margin was driven by higher expenses. New Risk • Nov 19
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 7.9% 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 Latest financial reports are more than 1 year old (reported September 2022 fiscal period end). Market cap is less than US$10m (₫72.0b market cap, or US$2.97m). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • Oct 14
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ₫58.2b (up 14% from 3Q 2021). Net income: ₫5.52b (up 95% from 3Q 2021). Profit margin: 9.5% (up from 5.5% in 3Q 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Aug 19
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 15 September 2022. The company last paid an ordinary dividend in November 2013. The average dividend yield among industry peers is 1.4%. Reported Earnings • Jul 20
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ₫58.9b (up 24% from 2Q 2021). Net income: ₫5.74b (up 76% from 2Q 2021). Profit margin: 9.7% (up from 6.9% in 2Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Apr 17
First quarter 2022 earnings released First quarter 2022 results: Revenue: ₫11.5b (up 66% from 1Q 2021). Net loss: ₫868.0m (loss narrowed 71% from 1Q 2021). Reported Earnings • Jan 21
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: ₫126.6b (down 16% from FY 2020). Net income: ₫3.15b (down 62% from FY 2020). Profit margin: 2.5% (down from 5.5% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Reported Earnings • Oct 15
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫51.2b (up 188% from 3Q 2020). Net income: ₫2.83b (up ₫6.01b from 3Q 2020). Profit margin: 5.5% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Upcoming Dividend • Jul 08
Inaugural dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 15 July 2021. Payment date: 30 July 2021. The company last paid an ordinary dividend in November 2013. The average dividend yield among industry peers is 2.1%. Is New 90 Day High Low • Dec 17
New 90-day high: ₫18,600 The company is up 45% from its price of ₫12,800 on 18 September 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: ₫17,900 The company is up 40% from its price of ₫12,800 on 01 September 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is up 4.0% over the same period. Is New 90 Day High Low • Oct 02
New 90-day high: ₫13,300 The company is up 6.0% from its price of ₫12,500 on 03 July 2020. The Vietnamese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Beverage industry, which is up 9.0% over the same period. 
