Company Report

Healthy economy combining with fast growth population and high urbanization rate are the positive drives for the development of construction and building materials industry in general and tile sector in particular. At present, while there is an oversupply of ceramic tile, total capacity of Granite tile production in Vietnam is limited, which stimulates the growth of tile manufacturers in coming times. Total design capacity of CVT reached 18mn m2/year, securing 4th rank in the list of 80 Vietnamese tile manufacturers. Gross profit margin of CVT is 23.8%, the highest rate among that of the listing tile manufactures, contributed by the efficient distribution system, factories adjacent to resources mines and especially the flexible production lines capable of altering products for public tastes in each period. CAGR of profit of CVT in 7 years is 28.32%. In early 2018, phase 3 of CMC2 factory was put into operation, producing a new product which is the high-end soluble salt and

CENLAND has built a stable business system with a combination of traditional and modern methods via 4 distributing channels including real estate project supermarket STDA, website nghemoigioi.vn, a network of representative offices and branches across the country and abroad and over 700 connected agent. This is a huge competitive advantage of CENLAND over other competitors. In 2017, CENLAND market share in real estate brokerage was 42%, ranking first in the North and 18%, ranking second in the whole country. The number of units sold was up by 18.7% yoy, reaching 11,555 units. The Company’s strategy in the coming period is not only to focus solely on brokerage segment as previously but also to increase secondary investment and deposits for off- take agreements. These two segments allow the Company to partly control supply as well as generate better profit. CENLAND is forecast to earn a revenue of VND1709.5bn (up by 53.3 % yoy) and a net profit of VND306bn (up by 24.3% yoy),

ACB successfully accomplished the 2013-2018 strategy 1 year earlier than expected, after totally solving poor assets arising beforehand. This leads to the bank’s rate of bad debts and doubted assets in total loans staying at least in banking industry. CAR staying high at more than 11% supported ACB credit growth to reach 15% as required in 2018 plan and have positive outlook in the years ahead. ACB has always concentrated on retail banking strategies since foundation, and gradually completed its personal customer ecosystem via the most developed applications such as: Customer experience digitalization; bills and documents digitalization; Distributor Management System (DMS); Big data; etc. ACB NIM and ROE are spreadingly expanded and ranked top in banking sector (3.52% and 14.08% respectively). Aggressive provisions from bad debts many years ago started to benefit ACB with great amount of reversals. The estimated reversal profit in 2018 is VND 1,200 bn. Furthermore, custome

DXG closed-loop business model supports business activities in operating flexibly and cooperating with each other. The company orientation focuses on project development, which will increase DXG business scale and profit. With a nationwide brokerage network supported by numerous contribution channels, brokerage activities have brought DXG healthy cash flow, and secured the sales progress of DXG projects. DXG have currently owned more than 1000ha of land capacity which mainly concentrated in HCM City. This is considered a great competitive advantage of DXG. Current available land capacity can secure the development of DXG projects and revenue in the next five years. According to the medium-term plan, DXG will focus on developing mid-high end condo projects to ensure the product continuity. These are all high-demand products with high liquidity and demand for living because of (1) Large working aged population, increasing urbanization speed, and uptrend of the middle class in societ