New Risk • Aug 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% 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 (30% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₫711.8b market cap, or US$27.0m). Reported Earnings • Jul 31
Second quarter 2026 earnings released: EPS: ₫1,409 (vs ₫2,193 in 2Q 2025) Second quarter 2026 results: EPS: ₫1,409 (down from ₫2,193 in 2Q 2025). Revenue: ₫89.9b (down 26% from 2Q 2025). Net income: ₫20.7b (down 36% from 2Q 2025). Profit margin: 23% (down from 27% in 2Q 2025). The decrease in margin was driven by lower revenue. Upcoming Dividend • Jul 06
Upcoming dividend of ₫3,000 per share Eligible shareholders must have bought the stock before 13 July 2026. Payment date: 30 July 2026. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 5.8%. Lower than top quartile of Vietnamese dividend payers (8.1%). In line with average of industry peers (5.6%). Duyuru • Jun 30
Hoa An Joint Stock Company announces Annual dividend, payable on July 30, 2026 Hoa An Joint Stock Company announced Annual dividend of VND 3000.0000 per share payable on July 30, 2026, ex-date on July 13, 2026 and record date on July 14, 2026. Reported Earnings • Apr 27
First quarter 2026 earnings released: EPS: ₫1,779 (vs ₫1,925 in 1Q 2025) First quarter 2026 results: EPS: ₫1,779 (down from ₫1,925 in 1Q 2025). Revenue: ₫101.1b (up 2.8% from 1Q 2025). Net income: ₫26.2b (down 7.5% from 1Q 2025). Profit margin: 26% (down from 29% in 1Q 2025). The decrease in margin was driven by higher expenses. New Risk • Apr 04
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 62% 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 (62% accrual ratio). Minor Risks Dividend is not well covered by cash flows (386% cash payout ratio). Market cap is less than US$100m (₫671.3b market cap, or US$25.5m). Duyuru • Feb 02
Hoa An Joint Stock Company, Annual General Meeting, Apr 15, 2026 Hoa An Joint Stock Company, Annual General Meeting, Apr 15, 2026. Reported Earnings • Feb 02
Full year 2025 earnings released: EPS: ₫7,725 (vs ₫3,512 in FY 2024) Full year 2025 results: EPS: ₫7,725 (up from ₫3,512 in FY 2024). Revenue: ₫426.8b (up 44% from FY 2024). Net income: ₫113.7b (up 120% from FY 2024). Profit margin: 27% (up from 18% in FY 2024). The increase in margin was driven by higher revenue. Upcoming Dividend • Sep 08
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 15 September 2025. Payment date: 30 September 2025. Trailing yield: 7.2%. Lower than top quartile of Vietnamese dividend payers (7.3%). Higher than average of industry peers (6.5%). Buy Or Sell Opportunity • Aug 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to ₫47,900. The fair value is estimated to be ₫39,648, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has grown by 21%. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫49,000, the stock trades at a trailing P/E ratio of 14x. Average forward P/E is 15x in the Basic Materials industry in Vietnam. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫32,051 per share. Buy Or Sell Opportunity • Apr 10
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to ₫37,450. The fair value is estimated to be ₫31,066, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last year. Earnings per share has declined by 36%. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: ₫3,512 (vs ₫5,530 in FY 2023) Full year 2024 results: EPS: ₫3,512 (down from ₫5,530 in FY 2023). Revenue: ₫296.2b (down 21% from FY 2023). Net income: ₫51.7b (down 37% from FY 2023). Profit margin: 18% (down from 22% in FY 2023). The decrease in margin was driven by lower revenue. Upcoming Dividend • Jan 16
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 23 January 2025. Payment date: 14 February 2025. Trailing yield: 11%. Within top quartile of Vietnamese dividend payers (8.2%). Higher than average of industry peers (5.7%). Duyuru • Jan 08
Hoa an Joint Stock Company Announces Cash Dividend, Payable on February 14, 2025 On January 07, 2025, Hoa An Joint Stock Company announces the record date for the 1st payment of 2024 cash dividend as follow: Exercise ratio: 15%/par value (VND 1,500/share). Payment time: February 14, 2025. Record date: January 24, 2025. Buy Or Sell Opportunity • Dec 17
Now 21% undervalued Over the last 90 days, the stock has risen 6.7% to ₫43,200. The fair value is estimated to be ₫54,343, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Sep 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to ₫40,250. The fair value is estimated to be ₫50,349, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Aug 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to ₫39,000. The fair value is estimated to be ₫51,294, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Upcoming Dividend • Jun 25
Upcoming dividend of ₫2,000 per share Eligible shareholders must have bought the stock before 02 July 2024. Payment date: 12 July 2024. Trailing yield: 11%. Within top quartile of Vietnamese dividend payers (8.3%). Higher than average of industry peers (5.0%). Duyuru • Jun 19
Hoa an Joint Stock Company Announces Remaining Cash Dividend Payment in 2023, Payable on July 12, 2024 On June 18, 2024, Hoa An Joint Stock Company announces the record date for the remaining cash dividend payment in 2023 as follows: Record date: July 03, 2024. Exercise ratio: 20%/par value (2,000 dongs/share). Payment time: July 12, 2024. Duyuru • Mar 10
Hoa An Joint Stock Company, Annual General Meeting, Apr 25, 2024 Hoa An Joint Stock Company, Annual General Meeting, Apr 25, 2024. Location: Hoa An Joint Stock Company Vietnam Vietnam Upcoming Dividend • Sep 05
Upcoming dividend of ₫3,000 per share at 9.5% yield Eligible shareholders must have bought the stock before 11 September 2023. Payment date: 22 September 2023. Trailing yield: 9.5%. Within top quartile of Vietnamese dividend payers (8.4%). Higher than average of industry peers (5.9%). Duyuru • Aug 19
Hoa An Joint Stock Company Approves to Pay First Phase Cash Dividend The Board of Directors of Hoa An Joint Stock Company approved to pay for the first phase of 2023 dividend in cash: Payment date: in third quarter of 2023. Dividend pay-out ratio: 30%/par value (VND 3,000/share). New Risk • Aug 09
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2015. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported September 2015 fiscal period end). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₫731.9b market cap, or US$30.8m). Buying Opportunity • Jul 18
Now 20% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be ₫56,211, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Upcoming Dividend • Jun 01
Upcoming dividend of ₫2,000 per share at 13% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 20 June 2023. Trailing yield: 13%. Within top quartile of Vietnamese dividend payers (8.6%). Higher than average of industry peers (7.3%). Duyuru • May 30
Hoa an Joint Stock Company Announces to Pay Payment of Cash Dividend in 2022, Payable on June 20, 2023 On May 26, 2023, Hoa An Joint Stock Company announced the record dated to pay Payment ratio: 20% (2,000 dongs/share) the remaining cash dividend in 2022: Record date: June 09, 2023. Payment date June 20, 2023. Duyuru • Feb 18
Hoa An Joint Stock Company, Annual General Meeting, Apr 20, 2023 Hoa An Joint Stock Company, Annual General Meeting, Apr 20, 2023. Location: No. 20C Nguyen Van Lung Hoa An ward Dong Nai Vietnam Upcoming Dividend • Dec 27
Upcoming dividend of ₫3,000 per share Eligible shareholders must have bought the stock before 03 January 2023. Payment date: 13 January 2023. Trailing yield: 15%. Within top quartile of Vietnamese dividend payers (9.4%). Higher than average of industry peers (6.1%). Duyuru • Dec 22
Hoa an Joint Stock Company Announces the First Phase of 2022 Dividend, Payable on January 13, 2023 Hoa An Joint Stock Company announced the payment for the first phase of 2022 dividend in cash. Dividend pay-out ratio: 30%/par value (VND 3,000/share). Record date is January 04, 2023. Payment date is January 13, 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. 6 experienced directors. 5 highly experienced directors. No independent directors (8 non-independent directors). Head of Supervisory Board Dang Long was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Duyuru • May 12
Hoa An Joint Stock Company Announces Executive Changes Hoa An Joint Stock Company approve the appointment of Mr. Tran Quoc Trung as Person in charge of Corporate Governance cum Secretary of the Company from May 09, 2022. Upcoming Dividend • May 02
Upcoming dividend of ₫2,000 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 24 May 2022. Trailing yield: 6.2%. Lower than top quartile of Vietnamese dividend payers (6.6%). Higher than average of industry peers (4.2%). Duyuru • Apr 27
Hoa an Joint Stock Company Announces Final Cash Dividend for the Year 2021 Payable on May 24, 2022 Hoa An Joint Stock Company announces final cash dividend payment at 20% (VND 2,000 per share) for the year 2021 payable on May 24, 2022. Record date is May 10, 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. 8 experienced directors. 3 highly experienced directors. No independent directors (8 non-independent directors). Head of Supervisory Board Dang Long was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Jan 03
Upcoming dividend of ₫3,000 per share Eligible shareholders must have bought the stock before 10 January 2022. Payment date: 21 January 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Vietnamese dividend payers (6.1%). Higher than average of industry peers (3.8%). Executive Departure • Aug 10
Chief Accountant Phuc Tran has left the company On the 1st of August, Phuc Tran's tenure as Chief Accountant ended after 4.3 years in the role. We don't have any record of a personal shareholding under Phuc's name. Phuc is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 7.08 years. Upcoming Dividend • May 06
Upcoming dividend of ₫3,000 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 27 May 2021. Trailing yield: 7.1%. Lower than top quartile of Vietnamese dividend payers (7.4%). Higher than average of industry peers (5.5%). Is New 90 Day High Low • Mar 01
New 90-day high: ₫51,700 The company is up 15% from its price of ₫44,900 on 01 December 2020. The Vietnamese market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Basic Materials industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: ₫50,500 The company is up 28% from its price of ₫39,500 on 23 October 2020. The Vietnamese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 31
New 90-day high: ₫47,400 The company is up 20% from its price of ₫39,500 on 02 October 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ₫45,200 The company is up 20% from its price of ₫37,800 on 08 September 2020. The Vietnamese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: ₫42,000 The company is up 13% from its price of ₫37,200 on 19 August 2020. The Vietnamese market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: ₫40,100 The company is up 33% from its price of ₫30,100 on 07 July 2020. The Vietnamese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 15% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: ₫39,900 The company is up 33% from its price of ₫29,950 on 19 June 2020. The Vietnamese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 5.0% over the same period.