New Risk • Apr 21
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Market cap is less than US$10m (₫89.2b market cap, or US$3.39m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • Apr 21
First quarter 2026 earnings released: EPS: ₫32.99 (vs ₫4.00 in 1Q 2025) First quarter 2026 results: EPS: ₫32.99 (up from ₫4.00 in 1Q 2025). Revenue: ₫164.6b (up 38% from 1Q 2025). Net income: ₫1.05b (up ₫934.1m from 1Q 2025). Profit margin: 0.6% (up from 0.1% in 1Q 2025). The increase in margin was driven by higher revenue. Announcement • Mar 23
Thien Quang Group Joint Stock Company, Annual General Meeting, Apr 11, 2026 Thien Quang Group Joint Stock Company, Annual General Meeting, Apr 11, 2026, at 08:30 SE Asia Standard Time. Location: an lac village, nhu quynh commune, hung yen province, Vietnam New Risk • Feb 24
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 7.9% 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 (7.9% average weekly change). Market cap is less than US$10m (₫95.5b market cap, or US$3.63m). New Risk • Jan 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Market cap is less than US$10m (₫95.5b market cap, or US$3.63m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Reported Earnings • Jan 23
Full year 2025 earnings released: EPS: ₫161 (vs ₫32.92 in FY 2024) Full year 2025 results: EPS: ₫161. Revenue: ₫153.6b (down 72% from FY 2024). Net income: ₫294.9m (down 72% from FY 2024). Profit margin: 0.2% (in line with FY 2024). New Risk • Jan 21
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 6.2% 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 Interest payments are not well covered by earnings (1.9x net interest cover). Market cap is less than US$10m (₫108.3b market cap, or US$4.11m). Minor Risk Share price has been volatile over the past 3 months (6.2% average weekly change). Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫3,400, the stock trades at a trailing P/E ratio of 32.4x. Average trailing P/E is 15x in the Metals and Mining industry in Vietnam. Total returns to shareholders of 31% over the past three years. Reported Earnings • Oct 23
Third quarter 2025 earnings released Third quarter 2025 results: EPS: ₫71.00. Net income: ₫2.27m (up ₫2.27m from 3Q 2024). New Risk • Aug 20
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Market cap is less than US$10m (₫101.9b market cap, or US$3.87m). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (7.0% average weekly change). New Risk • Jul 25
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 7.3% 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 (7.3% average weekly change). Market cap is less than US$10m (₫98.7b market cap, or US$3.75m). Minor Risks Less than 3 years of financial data is available. Profit margins are more than 30% lower than last year (0.1% net profit margin). Announcement • May 29
Thien Quang Group Joint Stock Company, Annual General Meeting, Jun 21, 2025 Thien Quang Group Joint Stock Company, Annual General Meeting, Jun 21, 2025, at 08:30 SE Asia Standard Time. Location: trung trac commune, van lam district, hung yen province, Vietnam Reported Earnings • Apr 24
First quarter 2025 earnings released First quarter 2025 results: EPS: ₫4.00. Net income: ₫116.5m (up ₫116.5m from 1Q 2024). 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. 5 non-independent directors. was the last director to join the board, commencing their role in . 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. 5 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Mar 08
New 90-day high: ₫3,900 The company is up 63% from its price of ₫2,400 on 08 December 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: ₫3,200 The company is up 33% from its price of ₫2,400 on 07 October 2020. The Vietnamese market is up 20% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 51% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ₫2,600 The company is up 8.0% from its price of ₫2,400 on 17 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 55% over the same period. 