Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫8,800, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 11x in the Packaging industry in Vietnam. Total returns to shareholders of 36% over the past three years. Board Change • May 12
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. 2 experienced directors. 1 highly experienced director. 1 independent director (2 non-independent directors). Vice Chairwoman, Deputy General Director, Sales Manager & Member of Management Board Minh Thi Ton is the most experienced director on the board, commencing their role in 2013. Independent Director Huyen Thi Ngo was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Apr 14
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. 2 experienced directors. 1 highly experienced director. 1 independent director (2 non-independent directors). Vice Chairwoman, Deputy General Director, Sales Manager & Member of Management Board Minh Thi Ton is the most experienced director on the board, commencing their role in 2013. Independent Director Huyen Thi Ngo was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: ₫349 (vs ₫529 in FY 2024) Full year 2025 results: EPS: ₫349 (down from ₫529 in FY 2024). Revenue: ₫476.5b (up 9.2% from FY 2024). Net income: ₫7.84b (down 34% from FY 2024). Profit margin: 1.6% (down from 2.7% in FY 2024). The decrease in margin was driven by higher expenses. Announcement • Feb 10
Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 10, 2026 Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 10, 2026. Location: meeting hall of tan dai hung plastic jsc, c11-c15 duc hoa industrial zone, duc hoa commune, tay ninh Vietnam Board Change • Feb 05
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Oanh Danh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jan 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫230.4b (US$8.75m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₫230.4b market cap, or US$8.75m). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Reported Earnings • Oct 29
Third quarter 2025 earnings released Third quarter 2025 results: EPS: ₫243. Net income: ₫5.17b (up ₫5.17b from 3Q 2024). Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫10,600, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 12x in the Packaging industry in Vietnam. Total returns to shareholders of 16% over the past three years. New Risk • Jul 09
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 8.0% 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 (8.0% average weekly change). Market cap is less than US$10m (₫191.4b market cap, or US$7.27m). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫8,800, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 13x in the Packaging industry in Vietnam. Total loss to shareholders of 4.3% over the past three years. New Risk • Jun 03
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 7.2% 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 Risk Market cap is less than US$10m (₫226.3b market cap, or US$8.60m). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Reported Earnings • Apr 23
First quarter 2025 earnings released First quarter 2025 results: EPS: ₫178. Net income: ₫4.01b (up ₫4.01b from 1Q 2024). Announcement • Feb 12
Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 10, 2025 Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 10, 2025. Location: melisa center, 85 thoai ngoc hau street, tan phu ward, hcm Vietnam Buy Or Sell Opportunity • Jan 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to ₫7,800. The fair value is estimated to be ₫6,439, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Nov 27
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to ₫8,330. The fair value is estimated to be ₫6,510, however this is not to be taken as a sell recommendation but rather should be used as a guide only. New Risk • Sep 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 7.6% 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 Latest financial reports are more than 1 year old (reported December 2015 fiscal period end). Share price has been highly volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$10m (₫137.4b market cap, or US$5.63m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Mar 07
Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 26, 2024 Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 26, 2024. Location: Melisa Center, 85 Thoai Ngoc Hau street, Tan Phu district, HCM city Ho Chi Minh City Vietnam New Risk • Feb 06
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 7.0% 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 Latest financial reports are more than 1 year old (reported December 2015 fiscal period end). Share price has been highly volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$10m (₫124.1b market cap, or US$5.09m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • Mar 07
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. 9 non-independent directors. Production Manager & Director Huu Tran 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. Board Change • Nov 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: No independent directors. 9 non-independent directors. Production Manager & Director Huu Tran was the last director to join 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. Announcement • Aug 23
Tan Dai Hung Plastic Joint Stock Company Appoints Huynh Minh Viet as Head of Internal Audit Department Tan Dai Hung Plastic Joint Stock Company Approved the appointment of Mr. Huynh Minh Viet – Independent member of BOD as Head of Internal Audit Department. Upcoming Dividend • May 17
Upcoming dividend of ₫700 per share Eligible shareholders must have bought the stock before 24 May 2022. Payment date: 27 June 2022. Trailing yield: 8.3%. Within top quartile of Vietnamese dividend payers (7.5%). Higher than average of industry peers (4.6%). Board Change • Apr 27
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: No independent directors. 9 non-independent directors. Production Manager & Director Huu Tran was the last director to join 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. Announcement • Apr 23
Tan Dai Hung Plastic Joint Stock Company Approves Cash Dividend for the Year 2021, Payable on June 27, 2022 The Board of Directors of Tan Dai Hung Plastic Joint Stock Company approved the cash dividend payment for 2021 as follows: Par value: VND 10,000. Exercise ratio: 7%/par value (700 dongs/share). Record date is May 25, 2022. Payment date is June 27, 2022. Announcement • Feb 22
Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 15, 2022 Tan Dai Hung Plastic Joint Stock Company, Annual General Meeting, Apr 15, 2022, at 01:30 Coordinated Universal Time. Location: Melisa Center, 85 Thoai Ngoc Hau Tan Phu District Ho Chi Minh Vietnam Upcoming Dividend • Aug 19
Upcoming dividend of ₫800 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 20 September 2021. Trailing yield: 8.0%. Within top quartile of Vietnamese dividend payers (7.2%). Higher than average of industry peers (4.3%). Is New 90 Day High Low • Feb 17
New 90-day high: ₫11,000 The company is up 47% from its price of ₫7,500 on 19 November 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 22
New 90-day high: ₫9,600 The company is up 28% from its price of ₫7,500 on 23 September 2020. The Vietnamese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 23% over the same period. Is New 90 Day High Low • Nov 13
New 90-day low: ₫6,910 The company is down 18% from its price of ₫8,400 on 14 August 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 29% over the same period.