Announcement • Jul 12
Ben Tre Pharmaceutical Joint Stock Company Announces Board Changes Ben Tre Pharmaceutical Joint Stock Company announced that the board of directors meeting held on July 8, 2026 acknowledged the resignation letter dated July 8, 2026 of Mr. Nguyen Khac Hanh as a member of the Board of Directors, submitted in connection with the Company's initiative to strengthen its corporate governance structure and support its development objectives for the new stage. The Board of Directors shall undertake the necessary procedures to submit the matter to the nearest General Meeting of Shareholders for consideration and approval of the dismissal of Mr. Nguyen Khac Hanh as a member of the Board of Directors in accordance with applicable laws and the Company's Charter. The board of directors resolved to dismiss Ms. Phan Thi Thanh Tai from the position of Secretary to the Board of Directors, effective as of July 9, 2026. New Risk • Jun 19
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 5.7% 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 (1.3x net interest cover). Revenue has declined by 0.9% over the past year. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (₫3.1b sold). Market cap is less than US$100m (₫274.6b market cap, or US$10.4m). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₫10,700, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 14x in the Pharmaceuticals industry in Vietnam. Total loss to shareholders of 3.0% over the past three years. New Risk • May 19
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₫3.3b This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Revenue has declined by 0.9% over the past year. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (₫3.3b sold). Market cap is less than US$100m (₫274.6b market cap, or US$10.4m). Recent Insider Transactions • May 19
Vice General Director & Director recently sold ₫3.1b worth of stock On the 13th of May, An Hoang sold around 312k shares on-market at roughly ₫10,000 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₫3.3b more than they bought in the last 12 months. Recent Insider Transactions • Mar 08
Vice General Director & Chairman recently sold ₫147m worth of stock On the 27th of February, Hanh Nguyen sold around 147k shares on-market at roughly ₫1,000 per share. This transaction amounted to 5.8% 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 Hanh's only on-market trade for the last 12 months. Announcement • Mar 06
Ben Tre Pharmaceutical Joint Stock Company, Annual General Meeting, Apr 28, 2026 Ben Tre Pharmaceutical Joint Stock Company, Annual General Meeting, Apr 28, 2026. New Risk • Feb 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 152% 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 Risks Interest payments are not well covered by earnings (1.3x net interest cover). Revenue has declined by 0.9% over the past year. Market cap is less than US$10m (₫225.2b market cap, or US$8.78m). Minor Risk Large one-off items impacting financial results. New Risk • Nov 06
New major risk - Revenue and earnings growth Revenue has declined by 1.7% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Interest payments are not well covered by earnings (1.5x net interest cover). Revenue has declined by 1.7% over the past year. Market cap is less than US$10m (₫252.6b market cap, or US$9.60m). Minor Risk Large one-off items impacting financial results. New Risk • Jun 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.0% Last year net profit margin: 1.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. 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 11% per year over the past 5 years. Market cap is less than US$10m (₫242.3b market cap, or US$9.21m). Minor Risk Profit margins are more than 30% lower than last year (1.0% net profit margin). Announcement • Mar 05
Ben Tre Pharmaceutical Joint Stock Company, Annual General Meeting, Apr 25, 2025 Ben Tre Pharmaceutical Joint Stock Company, Annual General Meeting, Apr 25, 2025. New Risk • Dec 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2020 fiscal period end). High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (₫239.2b market cap, or US$9.33m). Minor Risk Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Announcement • Mar 10
Ben Tre Pharmaceutical Joint Stock Company, Annual General Meeting, Apr 25, 2024 Ben Tre Pharmaceutical Joint Stock Company, Annual General Meeting, Apr 25, 2024. Location: Ham Luong hotel, 200C Hung Vuong, ward 5, Ben Tre Vietnam New Risk • Aug 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2020 fiscal period end). High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (₫207.3b market cap, or US$8.67m). Minor Risk Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Announcement • Jun 21
Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) acquired an unknown stake in Ypharco Healthcare Joint Stock Company. Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) acquired an unknown stake in Ypharco Healthcare Joint Stock Company on June 16, 2023. Ben Tre Pharmaceutical board approved the acquisition.Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) completed the acquisition of an unknown stake in Ypharco Healthcare Joint Stock Company on June 16, 2023 Announcement • Feb 04
Ben Tre Pharmaceutical Joint Stock Company Appoints Nguyen Khac Hanh as Chief Financial Officer The Board of Directors of BenTre Pharmaceutical Joint Stock Company approved the appointment of Mr. Nguyen Khac Hanh as Chief Financial Officer from February 01, 2023. 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. No highly experienced directors. No independent directors (7 non-independent directors). Head of Internal Audit & Director Hoang Nguyen was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Jul 07
Ben Tre Pharmaceutical Joint Stock Company Announces Chief Accountant Change BenTre Pharmaceutical Joint Stock Company announced personnel change as follows: Mr. Nguyen Khac Hanh resigned as Chief Accountant. Mr. Nguyen Viet Son is appointed to Chief Accountant. Effective date: July 01, 2022. 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. No highly experienced directors. No independent directors (7 non-independent directors). Head of Internal Audit & Director Hoang Nguyen was the last director to join the board, commencing their role in 2016. 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
Ben Tre Pharmaceutical Joint Stock Company Announces Executive Appointments Ben Tre Pharmaceutical Joint Stock Company announced appointment of Mr. Nguyen Khac Hanh as Chairman of the Board of Directors for the term 2019 - 2023. Appointment of Mr. Tran Huy Chuong as member of the Audit Committee for the term 2019- 2023. Announcement • Mar 31
Ben Tre Pharmaceutical Joint Stock Company Announces Resignation of Mr. Le Van Minh from the Member of the Board of Directors Ben Tre Pharmaceutical Joint Stock Company announced resignation of Mr. Le Van Minh from the Member of the Board of Directors. The effective date is March 25, 2022. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫15,600, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 17x in the Pharmaceuticals industry in Vietnam. Total returns to shareholders of 45% over the past three years. Recent Insider Transactions • Nov 09
Chief Accountant & Director recently bought ₫7.0m worth of stock On the 5th of November, Hanh Nguyen bought around 700k shares on-market at roughly ₫9.98 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₫1.5b more in shares than they bought in the last 12 months. Executive Departure • Sep 07
Deputy Chief Executive Officer Thi Thanh Tran has left the company On the 1st of September, Thi Thanh Tran's tenure as Deputy Chief Executive Officer ended. We don't have any record of a personal shareholding under Thi Thanh's name. A total of 2 executives have left over the last 12 months. Executive Departure • Sep 07
Deputy Chief Executive Officer Van Bao Trieu has left the company On the 1st of September, Van Bao Trieu's tenure as Deputy Chief Executive Officer ended. We don't have any record of a personal shareholding under Van Bao's name. A total of 2 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 16% share price gain to ₫20,250, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 19x in the Pharmaceuticals industry in Vietnam. Total returns to shareholders of 101% over the past three years. Recent Insider Transactions • Aug 25
Director recently sold ₫400m worth of stock On the 20th of August, Le Minh sold around 40k shares on-market at roughly ₫10,000 per share. In the last 3 months, there was an even bigger sale from another insider worth ₫3.2b. Insiders have been net sellers, collectively disposing of ₫1.5b more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 16% share price gain to ₫15,550, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 14x in the Pharmaceuticals industry in Vietnam. Total returns to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫11,900, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 17x in the Pharmaceuticals industry in Vietnam. Total returns to shareholders of 16% over the past three years. Announcement • Jul 02
Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) acquired an unknown stake in Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT). Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) acquired an unknown stake in Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) on June 29, 2021. Post completion, Ben Tre Pharmaceutical Joint Stock Company will own 85.9% in Yen Bai Pharmaceutical Joint Stock Company.
Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) completed the acquisition of and unknown stake in Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) on June 29, 2021. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₫15,000, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 17x in the Pharmaceuticals industry in Vietnam. Total returns to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improved over the past week After last week's 17% share price gain to ₫14,000, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 16x in the Pharmaceuticals industry in Vietnam. Total returns to shareholders of 28% over the past three years. Announcement • Apr 30
An unknown buyer agreed to acquire a 51.1% stake in Nha Trang Vaccines and Biological products Join-Stock Company from Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT). An unknown buyer agreed to acquire a 51.1% stake in Nha Trang Vaccines and Biological products Join-Stock Company from Ben Tre Pharmaceutical Joint Stock Company (HOSE:DBT) on April 27, 2021. Post transaction, Ben Tre Pharmaceutical will not have any stake in Nha Trang Vaccines and Biological products Join-Stock Company. Transaction is expected to close in Q2 2021. Upcoming Dividend • Feb 12
Upcoming Dividend of ₫700 Per Share Will be paid on the 15th of March to those who are registered shareholders by the 19th of February. The company last paid an ordinary dividend in April 2015. The average dividend yield among industry peers is 3.7%. Is New 90 Day High Low • Jan 27
New 90-day low: ₫12,350 The company is down 10.0% from its price of ₫13,700 on 29 October 2020. The Vietnamese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 7.0% over the same period. Announcement • Dec 02
Ben Tre Pharmaceutical Joint Stock Company Announces Management Changes BenTre Pharmaceutical Joint Stock Company announced personnel change as follows: Approved the resignations of Mr.Nguyen The Quoc Uy as Chief Accountant and Mr.Nguyen Khac Hanh as Head of internal audit board as from December 01, 2020. Mr. Nguyen Khac Hanh was appointed as Chief Accountant as from December 01, 2020 to November 30, 2024. Mr. Nguyen Hoang Son was appointed as Head of internal audit board as from December 01, 2020. 
