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Equity Bottom-Up

Hang Xanh Motors Service Jsc / Equity Bottom-Up

<ul><li>Q4 2021 sales reached the peak producing a negative growth rate for Q4 2022 sales.</li><li>We suppose that a lack of inventory is another main reason for lower sales in Q4 2022.</li><li>HAX's inventories went down continuously during the quarters since Q3 2021 and remained at the low level during the first three quarters of 2022.</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.

Q4 2021 sales reached the peak producing a negative growth rate for Q4 2022 sales.We suppose that a lack of inventory is another main reason for lower sales in Q4 2022.HAX's inventories went down continuously during the quarters since Q3 2021 and remained at the low level during the first three quarters of 2022.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.

HAX ­- On the way to strengthen its market share

Although Mercedes-Benz car sales saw a slowdown (+4% versus the average growth rate of 20%-30%), we still believe that the luxury car segment in Vietnam as ample room to grow due to the rapid growth of the middle class. Aggressive expansion plans by Daimler, which aim to raise the number of dealerships from the current 14 to 20 by 2020, also indicate the German company’s confidence in the market. We expect HAX will be able to expand its current network by 1 or 2 more dealerships in 2018. Based on…

Although Mercedes-Benz car sales saw a slowdown (+4% versus the average growth rate of 20%-30%), we still believe that the luxury car segment in Vietnam as ample room to grow due to the rapid growth of the middle class. Aggressive expansion plans by Daimler, which aim to raise the number of dealerships from the current 14 to 20 by 2020, also indicate the German company’s confidence in the market. We expect HAX will be able to expand its current network by 1 or 2 more dealerships in 2018. Based on…

Vietnam

Hang Xanh Motors Service JSC retails automobiles.

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Hang Xanh Motors Service Jsc (HAX VN)

HAX - Slowdown Is Temporary

Although Mercedes-Benz car sales saw a slowdown (+4% versus the average growth rate of 20%-30%), we still believe that the luxury car segment in...

Rong Viet Securities

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52-week Range

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HAX ­- On the way to strengthen its market share

Q4 2021 sales reached the peak producing a negative growth rate for Q4 2022 sales. We suppose that a lack of inventory is another main reason for...

Rong Viet Securities

HAX - Slowdown Is Temporary

Although Mercedes-Benz car sales saw a slowdown (+4% versus the average growth rate of 20%-30%), we still believe that the luxury car segment in...

Rong Viet Securities

HAX - On the way to strengthen its market share