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

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External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Mobile World Investment / Equity Bottom-Up

<ul><li>Thegioididong (TGDD) &amp; Dienmayxanh (DMX):</li><li>The core markets (ICT and consumer electronics) have entered a saturation phase, with annual sales growth ranging from 1-5%, expected to reach VND 263 trillion by 2028.</li><li>The market share of the 2 chains has reached its limited level (~25% for TGDD &amp; ~60% for DMX), amid fierce competition with young retail chains and the rising dominance of e-commerce platforms, which have no service differentiation, but owns a pricing advantage</li></ul><p><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></p>

Thegioididong (TGDD) &amp; Dienmayxanh (DMX):The core markets (ICT and consumer electronics) have entered a saturation phase, with annual sales growth ranging from 1-5%, expected to reach VND 263 trillion by 2028.The market share of the 2 chains has reached its limited level (~25% for TGDD &amp; ~60% for DMX), amid fierce competition with young retail chains and the rising dominance of e-commerce platforms, which have no service differentiation, but owns a pricing advantageContent 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.

MWG - Back on the Growth Race in the Medium Term by Bach Hoa Xanh