Board Change • Jun 01
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). Chairman of the Board of Directors Tung Vo was the last director to join the board, commencing their role in 2023. 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 15
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). Chairman of the Board of Directors Tung Vo was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
SaiGon Plant Protection Joint Stock Company, Annual General Meeting, Apr 24, 2026 SaiGon Plant Protection Joint Stock Company, Annual General Meeting, Apr 24, 2026, at 08:00 SE Asia Standard Time. Location: saigon plant protection jsc office, quarter 1, nguyen van quy, tan thuan ward, hcmc Vietnam Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: ₫1,509 (vs ₫4,606 loss in FY 2024) Full year 2025 results: EPS: ₫1,509 (up from ₫4,606 loss in FY 2024). Revenue: ₫937.0b (up 8.5% from FY 2024). Net income: ₫15.9b (up ₫64.4b from FY 2024). Profit margin: 1.7% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫9,700, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 9x in the Chemicals industry in Vietnam. Total loss to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫10,400, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 9x in the Chemicals industry in Vietnam. Total loss to shareholders of 25% over the past three years. New Risk • Feb 05
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.7x 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 (1.7x net interest cover). Shares are highly illiquid. Market cap is less than US$10m (₫86.3b market cap, or US$3.28m). New Risk • Feb 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 55% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (₫86.3b market cap, or US$3.28m). Minor Risk High level of debt (55% net debt to equity). Reported Earnings • Feb 04
Full year 2025 earnings released: EPS: ₫2,064 (vs ₫4,606 loss in FY 2024) Full year 2025 results: EPS: ₫2,064 (up from ₫4,606 loss in FY 2024). Revenue: ₫941.4b (up 9.0% from FY 2024). Net income: ₫21.7b (up ₫70.2b from FY 2024). Profit margin: 2.3% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 21% per year. Board Change • Nov 18
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Quyen Huynh is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Sep 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Quyen Huynh is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Aug 14
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.7x 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 (1.7x net interest cover). Shares are highly illiquid. Earnings have declined by 72% per year over the past 5 years. Market cap is less than US$10m (₫112.7b market cap, or US$4.28m). Board Change • Jul 08
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Quyen Huynh is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jun 13
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Quyen Huynh is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 08
SaiGon Plant Protection Joint Stock Company, Annual General Meeting, Apr 25, 2025 SaiGon Plant Protection Joint Stock Company, Annual General Meeting, Apr 25, 2025, at 08:00 SE Asia Standard Time. Location: saigon plant protection, joint stock company office, quarter 1, nguyen van quy, tan thuan dong ward, district 7, ho chi minh Vietnam Reported Earnings • Apr 05
Full year 2024 earnings released: ₫4,606 loss per share (vs ₫3,180 loss in FY 2023) Full year 2024 results: ₫4,606 loss per share (further deteriorated from ₫3,180 loss in FY 2023). Revenue: ₫863.7b (down 18% from FY 2023). Net loss: ₫48.5b (loss widened 45% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Board Change • Mar 28
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Member of Control Committee Thi Kim Do is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Feb 03
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Member of Control Committee Thi Kim Do is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 01
Third quarter 2024 earnings released Third quarter 2024 results: ₫541 loss per share. Revenue: ₫229.9b (down 8.0% from 3Q 2023). Net loss: ₫5.70b (loss narrowed 85% from 3Q 2023). Reported Earnings • Aug 04
Second quarter 2024 earnings released: ₫355 loss per share (vs ₫851 profit in 2Q 2023) Second quarter 2024 results: ₫355 loss per share (down from ₫851 profit in 2Q 2023). Revenue: ₫243.0b (down 20% from 2Q 2023). Net loss: ₫3.74b (down 142% from profit in 2Q 2023). Reported Earnings • May 03
First quarter 2024 earnings released First quarter 2024 results: ₫1,222 loss per share. Net loss: ₫12.9b (loss narrowed 46% from 1Q 2023). Buy Or Sell Opportunity • Apr 26
Now 21% overvalued Over the last 90 days, the stock has fallen 22% to ₫9,400. The fair value is estimated to be ₫7,761, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.2% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 22
Now 22% overvalued Over the last 90 days, the stock has fallen 21% to ₫9,500. The fair value is estimated to be ₫7,764, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.2% over the last 3 years. Meanwhile, the company became loss making. Board Change • Mar 14
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Member of Control Committee Thi Kim Do is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 02
Full year 2023 earnings released: ₫4,028 loss per share (vs ₫2,283 profit in FY 2022) Full year 2023 results: ₫4,028 loss per share (down from ₫2,283 profit in FY 2022). Revenue: ₫1.04t (down 13% from FY 2022). Net loss: ₫42.4b (down 276% from profit in FY 2022). Reported Earnings • Nov 02
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₫249.9b (down 7.7% from 3Q 2022). Net loss: ₫38.3b (down ₫38.9b from profit in 3Q 2022). Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫16,200, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 15x in the Chemicals industry in Vietnam. Total returns to shareholders of 7.4% over the past year. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: ₫526 (vs ₫405 in 2Q 2022) Second quarter 2023 results: EPS: ₫526 (up from ₫405 in 2Q 2022). Revenue: ₫302.9b (down 21% from 2Q 2022). Net income: ₫5.53b (up 30% from 2Q 2022). Profit margin: 1.8% (up from 1.1% in 2Q 2022). The increase in margin was driven by lower expenses. Upcoming Dividend • Jul 13
Upcoming dividend of ₫700 per share at 4.3% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 14 August 2023. Trailing yield: 4.3%. Lower than top quartile of Vietnamese dividend payers (8.3%). Lower than average of industry peers (5.8%). Reported Earnings • May 15
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₫195.2b (down 39% from 1Q 2022). Net loss: ₫23.9b (down ₫29.2b from profit in 1Q 2022). Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫13,900, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 10x in the Chemicals industry in Vietnam. Total loss to shareholders of 20% over the past year. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: ₫2,283 (vs ₫2,201 in FY 2021) Full year 2022 results: EPS: ₫2,283 (up from ₫2,201 in FY 2021). Revenue: ₫1.20t (up 8.1% from FY 2021). Net income: ₫24.0b (up 3.7% from FY 2021). Profit margin: 2.0% (down from 2.1% in FY 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₫13,900, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 8x in the Chemicals industry in Vietnam. Total loss to shareholders of 25% over the past year. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫16,900, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 8x in the Chemicals industry in Vietnam. Total loss to shareholders of 13% over the past year. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 21% share price gain to ₫16,500, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 8x in the Chemicals industry in Vietnam. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 15% share price gain to ₫17,400, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 8x in the Chemicals industry in Vietnam. 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. Director Duc Huynh was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: ₫63.00 (vs ₫1,010 in 3Q 2021) Third quarter 2022 results: EPS: ₫63.00 (down from ₫1,010 in 3Q 2021). Revenue: ₫270.8b (down 1.5% from 3Q 2021). Net income: ₫658.8m (down 94% from 3Q 2021). Profit margin: 0.2% (down from 3.9% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Upcoming Dividend • Sep 23
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 30 September 2022. Payment date: 26 October 2022. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Vietnamese dividend payers (7.5%). In line with average of industry peers (3.7%). Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: ₫405 (vs ₫19.50 loss in 2Q 2021) Second quarter 2022 results: EPS: ₫405 (up from ₫19.50 loss in 2Q 2021). Revenue: ₫381.5b (up 32% from 2Q 2021). Net income: ₫4.26b (up ₫4.47b from 2Q 2021). Profit margin: 1.1% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: ₫602 (vs ₫19.50 loss in 1Q 2021) First quarter 2022 results: EPS: ₫602 (up from ₫19.50 loss in 1Q 2021). Revenue: ₫253.7b (down 13% from 1Q 2021). Net income: ₫6.34b (up ₫6.55b from 1Q 2021). Profit margin: 2.5% (up from net loss in 1Q 2021). The move to profitability was driven by lower expenses. Board Change • Apr 29
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. Director Duc Huynh was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 08
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫2,479 (down from ₫3,458 in FY 2020). Revenue: ₫1.11t (down 2.6% from FY 2020). Net income: ₫26.1b (down 28% from FY 2020). Profit margin: 2.4% (down from 3.2% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Board Change • Feb 08
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. Director Duc Huynh was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
