External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

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Equity Bottom-Up

Analyst meeting update We participated in the analyst meeting of Phu Nhuan Jewelry JSC (PNJ) about its 1H22 business update and the board’s viewpoints on PNJ’s prospects in 2H22: ▪ PNJ’s business results recovered for the third consecutive quarter since 3Q21, with improving same-store sales growth, as: 1) Vietnam’s consumption continued to rally in 1H22, as Vietnam returned to new normalcy; and 2) PNJ’s marketing programs have served as effective promotion.<div class="content-highlight"><em>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.</em></div>

Analyst meeting update We participated in the analyst meeting of Phu Nhuan Jewelry JSC (PNJ) about its 1H22 business update and the board’s viewpoints on PNJ’s prospects in 2H22: ▪ PNJ’s business results recovered for the third consecutive quarter since 3Q21, with improving same-store sales growth, as: 1) Vietnam’s consumption continued to rally in 1H22, as Vietnam returned to new normalcy; and 2) PNJ’s marketing programs have served as effective promotion.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.

Phu Nhuan Jewelry JSC (PNJ VN) - Update - Remaining positive in 2H22

Bóng ma Covid Công ty TNHH Chứng khoán Mirae Asset Vietnam.<div class="content-highlight"><em>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.</em></div>

Bóng ma Covid Công ty TNHH Chứng khoán Mirae Asset Vietnam.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.

CTCP Vàng Bạc Đá Quý Phú Nhuận (PNJ VN/Nắm giữ)

Impressive growth on low base Thanks to a low base from April 2020, total net revenue and NPAT for Phu Nhuan Jewelry JSC (PNJ) saw impressive growth in April &amp; May 2021, reaching VND3,444bn (+127% YoY) and VND170bn (versus a loss of VND42bn YoY).<div class="content-highlight"><em>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.</em></div>

Impressive growth on low base Thanks to a low base from April 2020, total net revenue and NPAT for Phu Nhuan Jewelry JSC (PNJ) saw impressive growth in April &amp; May 2021, reaching VND3,444bn (+127% YoY) and VND170bn (versus a loss of VND42bn YoY).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.

Vietnam

Phu Nhuan Jewelry JSC manufactures jewelry.  The Company retails through its own shops and also sells to wholesalers.

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Phu Nhuan Jewelry (PNJ VN)

Phu Nhuan Jewelry JSC (PNJ VN) - Update - Remaining positive in 2H22

Analyst meeting update We participated in the analyst meeting of Phu Nhuan Jewelry JSC (PNJ) about its 1H22 business update and the board’s...

Mirae Asset Securities

CTCP Vàng Bạc Đá Quý Phú Nhuận (PNJ VN/Nắm giữ)

Bóng ma Covid Công ty TNHH Chứng khoán Mirae Asset Vietnam.

Mirae Asset Securities

Phu Nhuan Jewelry JSC (PNJ VN/Hold)

Impressive growth on low base Thanks to a low base from April 2020, total net revenue and NPAT for Phu Nhuan Jewelry JSC (PNJ) saw impressive...

Mirae Asset Securities

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