Hoa Phat Group: Trading Below Its Five-Year Average
Hoa Phat Group (HOSE: HPG) trades at about 1.27x P/B, roughly 21% below its five-year average of 1.60x. Revenue is back above its 2021 level, but net profit remains about 55% below its 2021 peak, so production volume has recovered faster than margins. Dung Quat 2, a VND 85 trillion project, adds 5.6 million tonnes of hot-rolled coil (HRC) capacity and lifts HPG’s total steel capacity to around 16 million tonnes. The key question is whether margins will keep pace with higher p
Saigon Equities Forum
12 hours ago
Vietnam's Diabetes Drug Market Insights
Vietnam’s diabetes drug market is projected to reach USD 625.5 million by 2034, growing at a 5.85% CAGR. Demand is being driven by an aging population, urbanization, and sedentary lifestyles, with millions of Vietnamese people living with diabetes. Livzon’s takeover of Imexpharm brings new R&D support and export access to a highly competitive market. However, out-of-pocket costs and uneven access outside Hanoi and HCMC could limit adoption of newer therapies.
Saigon Equities Forum
2 days ago
Vietnam Healthcare Sector February 2026
Vietnam’s healthcare sector is in the midst of an expansion phase, with the market projected to nearly double by 2030, supported by an aging population, rising income levels, and accelerating healthcare privatization. The report examines the undercapacity of public hospitals, the policy targets to raise the number of private beds, notable M&A activity, and a fast-growing medical tourism market targeting $4B by 2033.
Saigon Equities Forum
Feb 26
Masan Group Corp Equity Report
Masan’s recent capital injections from private equity and banking partners have accelerated nationwide expansion at WinCommerce (WCM) and Phuc Long (PHL), strengthening the group’s long-term growth strategy. At the same time, Masan Consumer (MCH) delivered a solid earnings beat in 4Q2025, reinforcing expectations for improved returns from 2026 onward after a rocky consumer retail market and changing spending habits. In our newest Equity Report, we initiate an Overweight ratin
Saigon Equities Forum
Feb 7
