Reported Earnings • Feb 05
Full year 2025 earnings released: ₫1,999 loss per share (vs ₫70.14 profit in FY 2024) Full year 2025 results: ₫1,999 loss per share (down from ₫70.14 profit in FY 2024). Revenue: ₫1.86t (down 5.3% from FY 2024). Net loss: ₫121.2b (down ₫125.4b from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. New Risk • Nov 22
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 6.4% 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 Less than 1 year of cash runway based on free cash flow trend (-₫60b free cash flow). Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (₫818.5b market cap, or US$31.1m). Reported Earnings • Nov 03
Third quarter 2025 earnings released: ₫432 loss per share (vs ₫15.00 profit in 3Q 2024) Third quarter 2025 results: ₫432 loss per share (down from ₫15.00 profit in 3Q 2024). Revenue: ₫427.1b (down 33% from 3Q 2024). Net loss: ₫26.2b (down ₫27.1b from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 03
Second quarter 2025 earnings released: ₫421 loss per share (vs ₫693 profit in 2Q 2024) Second quarter 2025 results: ₫421 loss per share (down from ₫693 profit in 2Q 2024). Revenue: ₫604.9b (up 45% from 2Q 2024). Net loss: ₫25.6b (down 163% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Jun 11
Dai Thien Loc Corporation, Annual General Meeting, Jun 30, 2025 Dai Thien Loc Corporation, Annual General Meeting, Jun 30, 2025, at 08:30 SE Asia Standard Time. Location: lot cn8, cn5 street, song than industrial park, phu tan ward, thu dua mot Vietnam New Risk • May 31
New major risk - Revenue and earnings growth Earnings have declined by 6.0% 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 Less than 1 year of cash runway based on free cash flow trend (-₫178b free cash flow). Earnings have declined by 6.0% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₫648.8b market cap, or US$24.7m). New Risk • Apr 10
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 6.3% 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 Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₫609.3b market cap, or US$23.8m). New Risk • Apr 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 101% 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 Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₫569.9b market cap, or US$22.2m). New Risk • Mar 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 3.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (3.3% operating cash flow to total debt). Minor Risk Market cap is less than US$100m (₫612.4b market cap, or US$23.9m). Reported Earnings • Nov 04
Third quarter 2024 earnings released: EPS: ₫15.00 (vs ₫73.00 in 3Q 2023) Third quarter 2024 results: EPS: ₫15.00 (down from ₫73.00 in 3Q 2023). Revenue: ₫635.2b (up 28% from 3Q 2023). Net income: ₫866.8m (down 80% from 3Q 2023). Profit margin: 0.1% (down from 0.9% in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 06
Second quarter 2024 earnings released: EPS: ₫783 (vs ₫1,274 loss in 2Q 2023) Second quarter 2024 results: EPS: ₫783 (up from ₫1,274 loss in 2Q 2023). Revenue: ₫417.6b (down 8.3% from 2Q 2023). Net income: ₫45.6b (up ₫119.3b from 2Q 2023). Profit margin: 11% (up from net loss in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • May 18
Dai Thien Loc Corporation Announces Board Changes Dai Thien Loc Corporation announced appointment of Mrs. Nguyen Thanh Dung as Chairman of the BOD and resignation of Mr. Nguyen Thanh Nghia as Chairman of the BOD. Effective date is May 16, 2024. Reported Earnings • May 07
First quarter 2024 earnings released: ₫428 loss per share (vs ₫658 loss in 1Q 2023) First quarter 2024 results: ₫428 loss per share (improved from ₫658 loss in 1Q 2023). Revenue: ₫369.9b (down 32% from 1Q 2023). Net loss: ₫24.9b (loss narrowed 35% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Feb 06
Dai Thien Loc Corporation, Annual General Meeting, Mar 22, 2024 Dai Thien Loc Corporation, Annual General Meeting, Mar 22, 2024. Location: 209 Nguyen Van Thu, district 1, HCMC Vietnam Reported Earnings • Feb 03
Full year 2023 earnings released: ₫2,610 loss per share (vs ₫2,518 loss in FY 2022) Full year 2023 results: ₫2,610 loss per share. Revenue: ₫1.97t (up 22% from FY 2022). Net loss: ₫151.9b (flat on FY 2022). Reported Earnings • Nov 04
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₫496.1b (up 136% from 3Q 2022). Net income: ₫4.28b (up ₫53.1b from 3Q 2022). Profit margin: 0.9% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Reported Earnings • Aug 03
Second quarter 2023 earnings released: ₫942 loss per share (vs ₫161 profit in 2Q 2022) Second quarter 2023 results: ₫942 loss per share (down from ₫161 profit in 2Q 2022). Revenue: ₫461.3b (up 35% from 2Q 2022). Net loss: ₫54.8b (down ₫64.2b from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Jul 12
Dai Thien Loc Corporation Announces Board Changes Dai Thien Loc Corporation announced the change in personnel. Appointment of Mr. Nguyen Van Sau as a member of the BOD. Effective date: June 29, 2023. and Resignation of Mr. Vo Thanh Lam as a member of the BOD. Effective date: June 29, 2023. Announcement • Jun 09
Dai Thien Loc Corporation, Annual General Meeting, Jun 29, 2023 Dai Thien Loc Corporation, Annual General Meeting, Jun 29, 2023, at 01:30 Coordinated Universal Time. Location: CN8, CN5 street, Song Than 3 industrial park, Phu Tan ward, Thu Dau Mot city Binh Duong Province Vietnam Reported Earnings • Feb 02
Full year 2022 earnings released: ₫2,168 loss per share (vs ₫893 profit in FY 2021) Full year 2022 results: ₫2,168 loss per share (down from ₫893 profit in FY 2021). Revenue: ₫1.61t (up 17% from FY 2021). Net loss: ₫126.2b (down 333% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. 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. 4 non-independent directors. Chairman of BOD & President Nghia Nguyen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: ₫178 (vs ₫186 in 2Q 2021) Second quarter 2022 results: EPS: ₫178 (down from ₫186 in 2Q 2021). Revenue: ₫340.7b (down 26% from 2Q 2021). Net income: ₫10.4b (down 3.7% from 2Q 2021). Profit margin: 3.0% (up from 2.3% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buying Opportunity • Jun 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 47%. The fair value is estimated to be ₫38,177, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 29% over the last 3 years. Meanwhile, the company has become profitable. Announcement • May 20
Dai Thien Loc Corporation, Annual General Meeting, Jun 08, 2022 Dai Thien Loc Corporation, Annual General Meeting, Jun 08, 2022, at 01:00 Coordinated Universal Time. Location: Lot CN8, Road CN5, Song Than 3 Industrial Zone Phu Tan ward, Thu Dau Mot city Binh Duong Province Vietnam Reported Earnings • May 04
First quarter 2022 earnings released: EPS: ₫401 (vs ₫19.00 in 1Q 2021) First quarter 2022 results: EPS: ₫401 (up from ₫19.00 in 1Q 2021). Revenue: ₫297.3b (up 37% from 1Q 2021). Net income: ₫23.4b (up ₫22.2b from 1Q 2021). Profit margin: 7.9% (up from 0.5% in 1Q 2021). The increase in margin was driven by higher revenue. 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. 4 non-independent directors. Chairman of BOD & President Nghia Nguyen was the last director to join the board, commencing their role in 2022. 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 • Mar 03
Investor sentiment improved over the past week After last week's 22% share price gain to ₫54,600, the stock trades at a trailing P/E ratio of 64.9x. Average trailing P/E is 7x in the Metals and Mining industry in Vietnam. Total returns to shareholders of 38% over the past three years. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫877 (up from ₫351 in FY 2020). Revenue: ₫1.38t (down 30% from FY 2020). Net income: ₫51.0b (up 140% from FY 2020). Profit margin: 3.7% (up from 1.1% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 21% share price gain to ₫42,150, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 11x in the Metals and Mining industry in Vietnam. Total returns to shareholders of 4.1% over the past three years. Reported Earnings • Oct 13
Second quarter 2021 earnings released: EPS ₫174 (vs ₫282 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫432.2b (up 17% from 2Q 2020). Net income: ₫10.1b (up ₫27.9b from 2Q 2020). Profit margin: 2.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. Board Change • Oct 01
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. 4 non-independent directors. Deputy CEO & Deputy Chairwoman Dung Nguyen was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 06
Dai Thien Loc Corporation Appoints Nguyen Thanh Dung as Deputy CEO Dai Thien Loc Corporation announced that Mrs. Nguyen Thanh Dung was appointed as Deputy CEO as from November 04, 2020. Announcement • Aug 08
Dai Thien Loc Corporation Suspends the Operation of Ba Ria – Vung Tau Branch from August 20, 2020 to December 31, 2020 Dai Thien Loc Corporation announced the stop of operation of Ba Ria – Vung branch from August 20, 2020 to December 31, 2020. 