New Risk • May 09
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 Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings have declined by 30% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (₫619.4b market cap, or US$23.5m). Tillkännagivande • Apr 03
Alpha Seven Group Joint Stock Company, Annual General Meeting, May 23, 2026 Alpha Seven Group Joint Stock Company, Annual General Meeting, May 23, 2026. Location: dlg hotel danang, no258, vo nguyen giap street, an hai ward, da nang city Vietnam Reported Earnings • Feb 04
Full year 2025 earnings released: EPS: ₫30.00 (vs ₫11.82 in FY 2024) Full year 2025 results: EPS: ₫30.00 (up from ₫11.82 in FY 2024). Revenue: ₫842.8b (up 60% from FY 2024). Net income: ₫3.51b (up 153% from FY 2024). Profit margin: 0.4% (up from 0.3% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. New Risk • Nov 17
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 6.9% 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 Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (₫637.4b market cap, or US$24.2m). Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: ₫24.00 (vs ₫171 in 3Q 2024) Third quarter 2025 results: EPS: ₫24.00 (down from ₫171 in 3Q 2024). Revenue: ₫208.9b (up 175% from 3Q 2024). Net income: ₫2.57b (down 86% from 3Q 2024). Profit margin: 1.2% (down from 24% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 07
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ₫270.4b (up 224% from 2Q 2024). Net income: ₫957.8m (down 95% from 2Q 2024). Profit margin: 0.4% (down from 23% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. New Risk • May 22
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 31% 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 Risks Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (31% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (0.01% net profit margin). Market cap is less than US$100m (₫956.1b market cap, or US$37.3m). Reported Earnings • Apr 08
Full year 2024 earnings released: EPS: ₫13.00 (vs ₫397 in FY 2023) Full year 2024 results: EPS: ₫13.00 (down from ₫397 in FY 2023). Revenue: ₫525.5b (up 87% from FY 2023). Net income: ₫1.39b (down 97% from FY 2023). Profit margin: 0.3% (down from 15% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Feb 27
Alpha Seven Group Joint Stock Company, Annual General Meeting, Apr 23, 2025 Alpha Seven Group Joint Stock Company, Annual General Meeting, Apr 23, 2025. Location: main hall, 1st floor of the company, lot 13-6, road n2, high-tech park, tang nhon phu a ward, thu duc city, ho chi minh city, Vietnam Reported Earnings • Feb 08
Full year 2024 earnings released: EPS: ₫13.00 (vs ₫397 in FY 2023) Full year 2024 results: EPS: ₫13.00 (down from ₫397 in FY 2023). Revenue: ₫548.0b (up 95% from FY 2023). Net income: ₫1.40b (down 97% from FY 2023). Profit margin: 0.3% (down from 15% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫5,400, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 14x in the Industrials industry in Vietnam. Total loss to shareholders of 53% over the past three years. Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: ₫171 (vs ₫138 in 3Q 2023) Third quarter 2024 results: EPS: ₫171 (up from ₫138 in 3Q 2023). Revenue: ₫75.8b (flat on 3Q 2023). Net income: ₫18.1b (up 24% from 3Q 2023). Profit margin: 24% (up from 19% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. 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 Interest payments are not well covered by earnings (2.9x net interest cover). Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risk Market cap is less than US$100m (₫764.9b market cap, or US$31.4m). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₫6,200, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 15x in the Industrials industry in Vietnam. Total loss to shareholders of 20% over the past three years. New Risk • Aug 06
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x 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 Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (₫520.6b market cap, or US$20.8m). Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: ₫168 (vs ₫138 in 2Q 2023) Second quarter 2024 results: EPS: ₫168 (up from ₫138 in 2Q 2023). Revenue: ₫83.6b (up 17% from 2Q 2023). Net income: ₫17.8b (up 22% from 2Q 2023). Profit margin: 21% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Tillkännagivande • Jun 21
An undisclosed buyer acquired an 5.6478% stake in Alpha Seven Group Joint Stock Company (HNX:DL1) from Global Capital Company Limited. An undisclosed buyer acquired an 5.6478% stake in Alpha Seven Group Joint Stock Company (HNX:DL1) from Global Capital Company Limited on June 10, 2024. Following the transaction, Global Capital holds 7,757,115 shares representing 7.3% in Alpha Seven.
An undisclosed buyer completed the acquisition of a 5.6478% stake in Alpha Seven Group Joint Stock Company (HNX:DL1) from Global Capital Company Limited on June 10, 2024. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫4,900, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 13x in the Industrials industry in Vietnam. Total loss to shareholders of 57% over the past three years. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: ₫153 (vs ₫118 in 1Q 2023) First quarter 2024 results: EPS: ₫153 (up from ₫118 in 1Q 2023). Revenue: ₫82.8b (up 27% from 1Q 2023). Net income: ₫16.3b (up 30% from 1Q 2023). Profit margin: 20% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. New Risk • Feb 11
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 4.9% 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 (1.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (4.9% average weekly change). Market cap is less than US$100m (₫488.7b market cap, or US$20.0m). Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: ₫399 (vs ₫426 in FY 2022) Full year 2023 results: EPS: ₫399 (down from ₫426 in FY 2022). Revenue: ₫281.3b (flat on FY 2022). Net income: ₫42.4b (down 6.3% from FY 2022). Profit margin: 15% (down from 16% in FY 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Buying Opportunity • Jan 18
Now 20% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be ₫5,386, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 12%. Buying Opportunity • Dec 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be ₫5,386, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 12%. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: ₫138 (vs ₫124 in 3Q 2022) Third quarter 2023 results: EPS: ₫138 (up from ₫124 in 3Q 2022). Revenue: ₫76.0b (up 9.0% from 3Q 2022). Net income: ₫14.7b (up 12% from 3Q 2022). Profit margin: 19% (in line with 3Q 2022). Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫3,800, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 10x in the Industrials industry in Asia. Total loss to shareholders of 5.0% over the past year. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: ₫142 (vs ₫66.93 in 2Q 2022) Second quarter 2023 results: EPS: ₫142 (up from ₫66.93 in 2Q 2022). Revenue: ₫71.5b (down 29% from 2Q 2022). Net income: ₫15.1b (up 113% from 2Q 2022). Profit margin: 21% (up from 7.0% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₫5,500, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 13x in the Industrials industry in Vietnam. Total loss to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫4,100, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 10x in the Industrials industry in Vietnam. Total loss to shareholders of 65% over the past three years. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: ₫118 (vs ₫148 in 1Q 2022) First quarter 2023 results: EPS: ₫118 (down from ₫148 in 1Q 2022). Revenue: ₫65.3b (up 93% from 1Q 2022). Net income: ₫12.6b (down 20% from 1Q 2022). Profit margin: 19% (down from 47% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: ₫446 (vs ₫426 in FY 2021) Full year 2022 results: EPS: ₫446 (up from ₫426 in FY 2021). Revenue: ₫279.1b (up 177% from FY 2021). Net income: ₫47.4b (up 4.8% from FY 2021). Profit margin: 17% (down from 45% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 16% share price gain to ₫2,900, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 15x in the Transportation industry in Asia. Total loss to shareholders of 90% over the past three years. Board Change • Nov 16
No independent directors There are 6 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: 6 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Bui Minh Duc is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫2,800, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 17x in the Transportation industry in Asia. Total loss to shareholders of 90% over the past three years. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: ₫124 (vs ₫112 in 3Q 2021) Third quarter 2022 results: EPS: ₫124 (up from ₫112 in 3Q 2021). Revenue: ₫69.8b (up ₫67.3b from 3Q 2021). Net income: ₫13.2b (up 10% from 3Q 2021). Profit margin: 19% (down from 487% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorated over the past week After last week's 23% share price decline to ₫3,100, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 16x in the Transportation industry in Asia. Total loss to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₫3,700, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 17x in the Transportation industry in Asia. Total loss to shareholders of 85% over the past three years. Tillkännagivande • Sep 27
Alpha Seven Group Joint Stock Company (HNX:DL1) acquired Duc Long Gia Lai Construction Investment Joint Stock Company for VND 3,00,000 million. Alpha Seven Group Joint Stock Company (HNX:DL1) acquired Duc Long Gia Lai Construction Investment Joint Stock Company for VND 3,00,000 million on September 21, 2022. Mr. Nguyen Dinh Trac will be the General Manager to represent and manage the Company's contributed capital at Duc Long Gia Lai Construction Investment Joint Stock Company.
Alpha Seven Group Joint Stock Company (HNX:DL1) completed the acquisition of Duc Long Gia Lai Construction Investment Joint Stock Company for VND 3,00,000 million on September 21, 2022 Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: ₫52.00 (vs ₫108 in 2Q 2021) Second quarter 2022 results: EPS: ₫52.00 (down from ₫108 in 2Q 2021). Revenue: ₫101.3b (up 136% from 2Q 2021). Net income: ₫6.01b (down 48% from 2Q 2021). Profit margin: 5.9% (down from 27% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 18% share price gain to ₫6,000, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 17x in the Transportation industry in Asia. Total loss to shareholders of 79% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 23% share price decline to ₫5,500, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 18x in the Transportation industry in Asia. Total loss to shareholders of 83% over the past three years. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: ₫147 (vs ₫113 in 1Q 2021) First quarter 2022 results: EPS: ₫147 (up from ₫113 in 1Q 2021). Revenue: ₫33.9b (up 170% from 1Q 2021). Net income: ₫15.6b (up 30% from 1Q 2021). Profit margin: 46% (down from 96% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging 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. 12 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Director Bui Minh Duc was the last director to join the board, commencing their role in 2019. 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 • Apr 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫9,000, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 21x in the Transportation industry in Asia. Total loss to shareholders of 72% over the past three years. Reported Earnings • Feb 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫362 (up from ₫350 in FY 2020). Revenue: ₫145.2b (down 23% from FY 2020). Net income: ₫36.6b (up 3.4% from FY 2020). Profit margin: 25% (up from 19% 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 40% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 19% share price gain to ₫14,900, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 14x in the Transportation industry in Asia. Total loss to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫12,000, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 14x in the Transportation industry in Asia. Total loss to shareholders of 63% over the past three years. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS ₫118 (vs ₫86.30 in 3Q 2020) Third quarter 2021 results: Revenue: ₫2.45b (down 32% from 3Q 2020). Net income: ₫11.9b (up 37% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 17% share price gain to ₫12,700, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 15x in the Transportation industry in Asia. Total loss to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improved over the past week After last week's 20% share price gain to ₫10,200, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 16x in the Transportation industry in Asia. Total loss to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 18% share price gain to ₫9,000, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 14x in the Transportation industry in Asia. Total loss to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 21% share price gain to ₫7,500, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 14x in the Transportation industry in Asia. Total loss to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₫6,500, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 15x in the Transportation industry in Asia. Total loss to shareholders of 83% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₫8,400, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 16x in the Transportation industry in Asia. Total loss to shareholders of 77% over the past three years. Reported Earnings • Feb 05
Full year 2020 earnings released: EPS ₫149 (vs ₫157 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: ₫188.6b (down 6.2% from FY 2019). Net income: ₫15.1b (down 5.2% from FY 2019). Profit margin: 8.0% (up from 7.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. 
