Announcement • Jul 21
Cuong Thuan Idico Development Investment Corporation Receives Amended Enterprise Registration Certificate from Department of Finance of Dong Nai City Cuong Thuan Idico Development Investment Corporation received the amended Enterprise Registration Certificate No. 3600459834 (15th Amendment), dated July 15, 2026, issued by the Department of Finance of Dong Nai City. The amendment to the Company's Enterprise Registration Certificate includes the following: Information before change: At Item 2, the registered office address was No. 168, Quarter 11, Tran Bien Ward, Dong Nai City, Vietnam. At Item 4, the correspondence address was No. 168, Group 2, Quarter 11, Tran Bien Ward, Dong Nai City, Vietnam. Information after change: At Item 2, the registered office address is No. 168, An Binh Quarter, Tran Bien Ward, Dong Nai City, Vietnam. At Item 4, the correspondence address is No. 168, Group 2, An Binh Quarter, Tran Bien Ward, Dong Nai City, Vietnam. The reason for the change is updated in accordance with the new administrative boundaries. The effective date is July 15, 2026. The receipt date of the new certificate of business registration is July 16, 2026. This information was disclosed on the Company's website on July 17, 2026. Announcement • Jun 06
Cuong Thuan Idico Development Investment Corporation, Annual General Meeting, Jun 26, 2026 Cuong Thuan Idico Development Investment Corporation, Annual General Meeting, Jun 26, 2026, at 08:30 SE Asia Standard Time. Location: golden palace convention and wedding center, 04/06 nguyen ai quoc street, tam hiep ward, dong nai city, Vietnam Buy Or Sell Opportunity • Mar 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.9% to ₫21,500. The fair value is estimated to be ₫27,724, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 14%. Buy Or Sell Opportunity • Mar 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.7% to ₫22,600. The fair value is estimated to be ₫28,889, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 14%. New Risk • Feb 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₫1.55t market cap, or US$60.6m). Reported Earnings • Feb 04
Full year 2025 earnings released: EPS: ₫2,336 (vs ₫1,764 in FY 2024) Full year 2025 results: EPS: ₫2,336 (up from ₫1,764 in FY 2024). Revenue: ₫1.48t (up 33% from FY 2024). Net income: ₫147.2b (up 52% from FY 2024). Profit margin: 10.0% (up from 8.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 3.4% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Dec 18
Deputy General Manager recently sold ₫968m worth of stock On the 12th of December, Cuong Nguyen sold around 97k shares on-market at roughly ₫10,000 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. New Risk • Nov 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₫1.26t market cap, or US$48.0m). Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: ₫612 (vs ₫608 in 3Q 2024) Third quarter 2025 results: EPS: ₫612 (up from ₫608 in 3Q 2024). Revenue: ₫363.4b (up 33% from 3Q 2024). Net income: ₫38.5b (up 16% from 3Q 2024). Profit margin: 11% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 24% per year. Reported Earnings • Jul 31
Second quarter 2025 earnings released: EPS: ₫846 (vs ₫370 in 2Q 2024) Second quarter 2025 results: EPS: ₫846 (up from ₫370 in 2Q 2024). Revenue: ₫351.0b (up 37% from 2Q 2024). Net income: ₫53.3b (up 164% from 2Q 2024). Profit margin: 15% (up from 7.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
First quarter 2025 earnings released: EPS: ₫704 (vs ₫514 in 1Q 2024) First quarter 2025 results: EPS: ₫704 (up from ₫514 in 1Q 2024). Revenue: ₫282.5b (up 9.8% from 1Q 2024). Net income: ₫38.6b (up 37% from 1Q 2024). Profit margin: 14% (up from 11% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₫17,200, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 11x in the Basic Materials industry in Vietnam. Total loss to shareholders of 25% over the past three years. Announcement • Apr 02
Cuong Thuan Idico Development Investment Corporation, Annual General Meeting, Apr 24, 2025 Cuong Thuan Idico Development Investment Corporation, Annual General Meeting, Apr 24, 2025, at 08:30 SE Asia Standard Time. Location: at no. 15, dong khoi street, tan tien ward, bien hoa city, Vietnam New Risk • Jan 28
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 5.1% 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 Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.1% average weekly change). Market cap is less than US$100m (₫1.10t market cap, or US$43.8m). Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫21,850, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 13x in the Basic Materials industry in Vietnam. Total loss to shareholders of 8.2% over the past three years. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: ₫608 (vs ₫97.00 in 3Q 2023) Third quarter 2024 results: EPS: ₫608 (up from ₫97.00 in 3Q 2023). Revenue: ₫273.4b (up 53% from 3Q 2023). Net income: ₫33.3b (up ₫28.0b from 3Q 2023). Profit margin: 12% (up from 3.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: ₫461 (vs ₫678 in 2Q 2023) Second quarter 2024 results: EPS: ₫461 (down from ₫678 in 2Q 2023). Revenue: ₫254.4b (up 25% from 2Q 2023). Net income: ₫25.2b (down 32% from 2Q 2023). Profit margin: 9.9% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Apr 28
Cuong Thuan Idico Development Investment Corporation, Annual General Meeting, May 16, 2024 Cuong Thuan Idico Development Investment Corporation, Annual General Meeting, May 16, 2024, at 13:30 Coordinated Universal Time. Location: No.15 Dong Khoi street, Tan Tien ward, Bien Hoa City Vietnam Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: ₫1,318 (vs ₫1,619 in FY 2022) Full year 2023 results: EPS: ₫1,318 (down from ₫1,619 in FY 2022). Revenue: ₫820.8b (down 8.2% from FY 2022). Net income: ₫72.2b (down 19% from FY 2022). Profit margin: 8.8% (down from 9.9% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jan 21
Cuong Thuan Idico Development Investment Corporation Announces Chief Accountant Changes Cuong Thuan Idico Development Investment Corporation appointed Mr. Bui Tien Vuong as Chief Accountant, effective from January 17, 2024 and resignation of Mrs. Pham Mai Thu as Chief Accountant, effective from January 17, 2024. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: ₫97.00 (vs ₫442 in 3Q 2022) Third quarter 2023 results: EPS: ₫97.00 (down from ₫442 in 3Q 2022). Revenue: ₫178.8b (down 26% from 3Q 2022). Net income: ₫5.33b (down 78% from 3Q 2022). Profit margin: 3.0% (down from 10.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Aug 03
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.4x 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 (1.4x net interest cover). Earnings have declined by 22% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₫948.0b market cap, or US$39.9m). Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: ₫678 (vs ₫539 in 2Q 2022) Second quarter 2023 results: EPS: ₫678 (up from ₫539 in 2Q 2022). Revenue: ₫203.0b (down 18% from 2Q 2022). Net income: ₫37.2b (up 26% from 2Q 2022). Profit margin: 18% (up from 12% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫14,400, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 9x in the Basic Materials industry in Vietnam. Total loss to shareholders of 6.3% over the past three years. Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: ₫1,603 (vs ₫112 loss in FY 2021) Full year 2022 results: EPS: ₫1,603 (up from ₫112 loss in FY 2021). Revenue: ₫919.5b (up 21% from FY 2021). Net income: ₫87.8b (up ₫94.0b from FY 2021). Profit margin: 9.6% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% 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. 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. 10 experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Chairman Tran Hoang was the last director to join the board, commencing their role in 2013. 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 10
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫10,650, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 10x in the Basic Materials industry in Vietnam. Total loss to shareholders of 47% over the past three years. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: ₫442 (vs ₫115 loss in 3Q 2021) Third quarter 2022 results: EPS: ₫442 (up from ₫115 loss in 3Q 2021). Revenue: ₫242.4b (up 197% from 3Q 2021). Net income: ₫24.2b (up ₫30.5b from 3Q 2021). Profit margin: 10.0% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 26
Second quarter 2022 earnings released: EPS: ₫426 (vs ₫216 in 2Q 2021) Second quarter 2022 results: EPS: ₫426 (up from ₫216 in 2Q 2021). Revenue: ₫252.4b (up 26% from 2Q 2021). Net income: ₫23.4b (up 98% from 2Q 2021). Profit margin: 9.3% (up from 5.9% in 2Q 2021). Over the next year, revenue is forecast to grow 58%, compared to a 11% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 50% 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. 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. 10 experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Chairman Tran Hoang was the last director to join the board, commencing their role in 2013. 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 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫20,200, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 15x in the Basic Materials industry in Vietnam. Total loss to shareholders of 2.1% over the past three years. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 18% share price gain to ₫24,000, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 14x in the Basic Materials industry in Vietnam. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 18% share price gain to ₫24,000, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 14x in the Basic Materials industry in Vietnam. Total returns to shareholders of 23% over the past three years. Reported Earnings • Nov 04
Third quarter 2021 earnings released: ₫115 loss per share (vs ₫203 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₫81.6b (down 48% from 3Q 2020). Net loss: ₫6.31b (down 157% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Upcoming Dividend • Sep 10
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 17 September 2021. Payment date: 30 September 2021. Trailing yield: 5.7%. Lower than top quartile of Vietnamese dividend payers (6.8%). Higher than average of industry peers (5.1%). Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 15% share price gain to ₫17,600, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 12x in the Basic Materials industry in Vietnam. Total loss to shareholders of 22% over the past three years. Reported Earnings • Aug 02
Second quarter 2021 earnings released: EPS ₫231 (vs ₫895 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ₫202.7b (up 29% from 2Q 2020). Net income: ₫12.7b (down 74% from 2Q 2020). Profit margin: 6.2% (down from 31% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 16% share price gain to ₫17,100, the stock is trading at a trailing P/E ratio of 10.2x, up from the previous P/E ratio of 8.8x. This compares to an average P/E of 10x in the Basic Materials industry in Vietnam. Total return to shareholders over the past three years is a loss of 41%. Is New 90 Day High Low • Mar 10
New 90-day high: ₫17,150 The company is up 23% from its price of ₫14,000 on 10 December 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 16% over the same period. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫13,550, the stock is trading at a trailing P/E ratio of 7.9x, down from the previous P/E ratio of 9.3x. This compares to an average P/E of 8x in the Basic Materials industry in Vietnam. Total return to shareholders over the past three years is a loss of 59%. Is New 90 Day High Low • Dec 29
New 90-day high: ₫15,650 The company is up 12% from its price of ₫14,000 on 30 September 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 21% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ₫15,100 The company is up 5.0% from its price of ₫14,350 on 08 September 2020. The Vietnamese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 10
New 90-day low: ₫12,500 The company is down 5.0% from its price of ₫13,100 on 12 August 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 19% over the same period.