New Risk • Mar 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 80% 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 Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (₫336.2b market cap, or US$12.8m). Duyuru • Feb 10
Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Mar 28, 2026 Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Mar 28, 2026. New Risk • Feb 02
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 6.2% 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 Risks Interest payments are not well covered by earnings (2.2x net interest cover). Market cap is less than US$10m (₫190.4b market cap, or US$7.42m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.2% average weekly change). Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫11,800, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 12x in the Basic Materials industry in Vietnam. Total returns to shareholders of 281% over the past three years. New Risk • Nov 13
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Market cap is less than US$10m (₫197.3b market cap, or US$7.50m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: ₫498 (vs ₫198 in 3Q 2024) Third quarter 2025 results: EPS: ₫498 (up from ₫198 in 3Q 2024). Revenue: ₫234.3b (up 3.7% from 3Q 2024). Net income: ₫7.13b (up 151% from 3Q 2024). Profit margin: 3.0% (up from 1.3% in 3Q 2024). The increase in margin was driven by higher revenue. Duyuru • Apr 25
Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 14, 2025 Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 14, 2025. Board Change • Jan 13
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Thanh Nguyen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 25
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 02 October 2024. Trailing yield: 4.5%. Lower than top quartile of Vietnamese dividend payers (8.2%). Lower than average of industry peers (5.4%). Declared Dividend • Aug 10
Dividend of ₫500 announced Dividend of ₫500 is the same as last year. Ex-date: 29th August 2024 Payment date: 2nd October 2024 Dividend yield will be 4.5%, which is lower than the industry average of 5.7%. Sustainability & Growth The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. Duyuru • May 05
Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 22, 2024 Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 22, 2024. New Risk • Feb 01
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 5.5% 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 Latest financial reports are more than 1 year old (reported June 2018 fiscal period end). High level of non-cash earnings (34% accrual ratio). Market cap is less than US$10m (₫123.0b market cap, or US$5.04m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.5% average weekly change). Upcoming Dividend • Aug 23
Upcoming dividend of ₫500 per share at 12% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 02 October 2023. Trailing yield: 12%. Within top quartile of Vietnamese dividend payers (8.9%). Higher than average of industry peers (6.5%). Duyuru • Aug 10
Yen Bai Industry Mineral Joint Stock Company Announces Dividend for the Year 2022, Payable on October 2, 2023 The Board of Directors of Yen Bai Industry Mineral Joint Stock Company approved to pay for the 2022 dividend of VND 500 per share in cash. Record date: September 01, 2023. Payment date: October 02, 2023. Dividend pay-out ratio: 5%/par value (VND 500/share). Exercise ratio: 1:1 (01 share - 01 vote). Buying Opportunity • Aug 03
Now 20% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be ₫9,754, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Jul 14
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 6.4% 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 Latest financial reports are more than 1 year old (reported June 2018 fiscal period end). High level of non-cash earnings (34% accrual ratio). Market cap is less than US$10m (₫112.3b market cap, or US$4.74m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Buying Opportunity • Jul 12
Now 23% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be ₫9,680, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Duyuru • May 30
Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 17, 2023 Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 17, 2023, at 02:00 Coordinated Universal Time. Location: A60, Auction Area 3ha. Phuc Dien, Bac Tu Liem Ha Noi Vietnam Board Change • Apr 10
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Thanh Nguyen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Feb 14
Yen Bai Industry Mineral Joint Stock Company Announces Board Changes Yen Bai Industry Mineral Joint Stock Company announced appointment of Mr. Hoang Anh Quan. Newly appointed position: Director cum the legal representative. Effective date: February 09, 2023. The company also announced resignation of Mr. Huynh Song Tra. Resigned position: Director cum the legal representative. Effective date: February 09, 2023. Duyuru • Jan 11
Yen Bai Industry Mineral Joint Stock Company Announces Relocation of Representative Office in Ha Noi On January 05, 2023, Yen Bai Industry Mineral Joint Stock Company announced the relocation of representative office in Ha Noi to A60, area A, Duc Dien street, Phuc Dien ward, Bac Tu Liem district, Ha Noi, Vietnam. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Thanh Nguyen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jul 22
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 29 July 2022. Payment date: 31 August 2022. Trailing yield: 5.4%. Lower than top quartile of Vietnamese dividend payers (7.7%). In line with average of industry peers (5.9%). Duyuru • May 19
Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 25, 2022 Yen Bai Industry Mineral Joint Stock Company, Annual General Meeting, Jun 25, 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. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Nov 22
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 15 December 2021. Trailing yield: 4.7%. Lower than top quartile of Vietnamese dividend payers (5.9%). Higher than average of industry peers (4.0%). Is New 90 Day High Low • Jan 21
New 90-day high: ₫7,070 The company is up 57% from its price of ₫4,500 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 18
New 90-day high: ₫5,500 The company is up 22% from its price of ₫4,490 on 18 September 2020. The Vietnamese market is up 16% 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 • Nov 03
New 90-day high: ₫5,020 The company is up 32% from its price of ₫3,800 on 05 August 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 18% over the same period.