Viet Capital Securities Joint Stock Company

Luan Nguyen

Independent Insight Provider

Equity Bottom-Up

<p>Dominating the galvanized steel sheet market. HSG controls 32% market share of the galvanized steel sheet segment. Provisional anti-dumping tariff is going to create growth opportunity and stable business for the next few years. Hoa Sen Ca Na Steel Complex will help HSG to profit from construction steel segment. </p><p>The crucial competitive advantage that sets HSG apart from all other competitors is their unique and unrivalled retail network. Currently, HSG owns 212 branded retail branches nationwide, up from the initial three shops in FY01. According to the management’s plan, total retail branches will reach 300 shops in FY17 and 350 shops in FY18.</p>

Dominating the galvanized steel sheet market. HSG controls 32% market share of the galvanized steel sheet segment. Provisional anti-dumping tariff is going to create growth opportunity and stable business for the next few years. Hoa Sen Ca Na Steel Complex will help HSG to profit from construction steel segment. The crucial competitive advantage that sets HSG apart from all other competitors is their unique and unrivalled retail network. Currently, HSG owns 212 branded retail branches nationwide, up from the initial three shops in FY01. According to the management’s plan, total retail branches will reach 300 shops in FY17 and 350 shops in FY18.

Hoa Sen Group - Dominating Vietnam's Galvanized Steel Sheet Segment