External broker reports(aggregated public sources), Vietcap

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External broker reports(aggregated public sources)

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<ul><li>CMC Corporation (HOSE: CMG) is the second largest listed IT services provider in Vietnam.</li><li>CMG provides IT &amp; software services, Internet, data center, and education services.</li><li> In FY2019-23, CMG posted an 11% revenue CAGR and a 24% NPAT-MI CAGR, driven by the company’s profitable digital infrastructure services and the widening PBT margin of its global business in FY2020-23.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CMC Corporation (HOSE: CMG) is the second largest listed IT services provider in Vietnam.CMG provides IT &amp; software services, Internet, data center, and education services. In FY2019-23, CMG posted an 11% revenue CAGR and a 24% NPAT-MI CAGR, driven by the company’s profitable digital infrastructure services and the widening PBT margin of its global business in FY2020-23.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CMG [NOT RATED] - Global IT, Digital Infrastructure Driving Strong Growth - Company Report

External broker reports(aggregated public sources), Rong Viet Securities

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<ul><li>We initiate coverage on CMG with atREDUCE as we expect current valuationwill leave limited room for upside potential in near-term.</li><li>This is due to the fact that FPT, a leading Tech company in Vietnam, is being traded at 30% discount to CMG based on FY22F P/E despite the fact that FPT’s ROE and profit margins outperform CMG’s.</li><li>Having said that, we project that CMG will outgrow FPT going forward due to its relatively small current scale of key businesses (CMG’s 5Y CAGR of 30% vs FPT’s of 21%).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We initiate coverage on CMG with atREDUCE as we expect current valuationwill leave limited room for upside potential in near-term.This is due to the fact that FPT, a leading Tech company in Vietnam, is being traded at 30% discount to CMG based on FY22F P/E despite the fact that FPT’s ROE and profit margins outperform CMG’s.Having said that, we project that CMG will outgrow FPT going forward due to its relatively small current scale of key businesses (CMG’s 5Y CAGR of 30% vs FPT’s of 21%).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CMG - Interesting Growth Trajectory Ahead

Vietnam

CMC Corporation manufactures computers.  The Company produces desktop and laptop computers and servers.  CMC also offers systems integration services.

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CMC Corporation (CMG VN)

CMG [NOT RATED] - Global IT, Digital Infrastructure Driving Strong Growth - Company Report

CMC Corporation (HOSE: CMG) is the second largest listed IT services provider in Vietnam. CMG provides IT & software services, Internet, data...

Vietcap

CMG - Interesting Growth Trajectory Ahead

We initiate coverage on CMG with atREDUCE as we expect current valuationwill leave limited room for upside potential in near-term.

Rong Viet Securities

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