Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₫103,100, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 19x in the Real Estate industry in Vietnam. Total returns to shareholders of 153% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₫101,000, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 20x in the Real Estate industry in Vietnam. Total returns to shareholders of 153% over the past three years. Announcement • Mar 24
Sunshine Group Joint Stock Company, Annual General Meeting, Apr 11, 2026 Sunshine Group Joint Stock Company, Annual General Meeting, Apr 11, 2026, at 08:00 SE Asia Standard Time. Location: 5th floor conference hall, sunshine center, 16 pham hung street, tub liem ward, hanoi Vietnam New Risk • Mar 02
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 Share price has been highly volatile over the past 3 months (7.6% average weekly change). Shareholders have been substantially diluted in the past year (200% increase in shares outstanding). Minor Risk High level of debt (89% net debt to equity). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₫77,500, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 22x in the Real Estate industry in Vietnam. Total returns to shareholders of 32% over the past three years. New Risk • Jan 27
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 6.1% 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 Shareholders have been substantially diluted in the past year (200% increase in shares outstanding). Minor Risks High level of debt (133% net debt to equity). Share price has been volatile over the past 3 months (6.1% average weekly change). New Risk • Oct 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 200% This is considered a major 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 Risk Shareholders have been substantially diluted in the past year (200% increase in shares outstanding). Minor Risk High level of debt (133% net debt to equity). New Risk • Aug 03
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 189% 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 Risk Revenue has declined by 58% over the past year. Minor Risk High level of debt (189% net debt to equity). New Risk • May 04
New major risk - Revenue and earnings growth Revenue has declined by 3.3% 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 Share price has been highly volatile over the past 3 months (10.0% average weekly change). Revenue has declined by 3.3% over the past year. Announcement • Apr 09
Real Tech Group Joint Stock Company, Annual General Meeting, Apr 26, 2025 Real Tech Group Joint Stock Company, Annual General Meeting, Apr 26, 2025, at 08:00 SE Asia Standard Time. Location: 5th floor conference hall, sunshine center building, no. 16 pham hung, my dinh 2 ward, nam tu liem district, hanoi, Vietnam New Risk • Mar 13
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₫49,800, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 33x in the Real Estate industry in Vietnam. Total loss to shareholders of 53% over the past three years. New Risk • Oct 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 33% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (33% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (25% net profit margin). New Risk • Jun 05
New major risk - Revenue and earnings growth Revenue has declined by 100% 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 Revenue has declined by 100% over the past year. Revenue is less than US$1m. New Risk • Aug 03
New major risk - Revenue and earnings growth Revenue has declined by 86% 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 Risk Revenue has declined by 86% over the past year. Minor Risk Less than 3 years of financial data is available. Announcement • Nov 27
KSFinance Group Joint Stock Company (HNX:KSF) agreed to acquire 50.99% stake in KS Securities Joint Stock Company. KSFinance Group Joint Stock Company (HNX:KSF) agreed to acquire 50.99% stake in KS Securities Joint Stock Company on November 19, 2021. As per terms, 51,009,245 shares will be acquired. Post completion, KS Securities JSC will become a subsidiary of KSFinance Group Joint Stock Company. The Resolution is approved by the Board of Directors of KSFinance Group Joint Stock Company.