{"id":32558,"date":"2025-08-08T14:40:04","date_gmt":"2025-08-08T07:40:04","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&#038;p=32558"},"modified":"2025-08-08T14:40:04","modified_gmt":"2025-08-08T07:40:04","slug":"en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/","title":{"rendered":"(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025"},"content":{"rendered":"<table>\n<tbody>\n<tr>\n<td>\n<p><span style=\"font-family: helvetica, arial, sans-serif\"><strong>KEY HIGHLIGHTS\u00a0<\/strong><\/span><\/p>\n<p><span style=\"font-family: helvetica, arial, sans-serif\">Saigon VRG Investment Corporation (SIP) announced its Q2\/2025 business results, with revenue reaching nearly VND 2,130 billion (+10% YoY and +10% QoQ) and net profit after minority interest of VND 309 billion (+3% YoY but -12% QoQ). The profit growth mainly stemmed from improved gross margin and a sharp increase in net financial income (+31x YoY), although significantly higher financial expenses (+2.47x YoY) partially offset net profit.<\/span><\/p>\n<p><span style=\"font-family: helvetica, arial, sans-serif\">Cumulatively for H1\/2025, SIP recorded net revenue of nearly VND 4,071 billion and net profit after tax of over VND 744 billion, up 8% and 26% YoY respectively. For 2025, the company targets consolidated revenue of VND 5,657 billion and net profit of nearly VND 833 billion, representing decreases of 33% and 35% compared to 2024. By mid-year, SIP had fulfilled approximately 72% of its revenue target and 89% of its profit goal, \u00a0respectively reaching 47% and 56% of GTJAS RS expectations.<\/span><\/p>\n<p><span style=\"font-family: helvetica, arial, sans-serif\"><strong>RECOMMENDATION<\/strong><\/span><\/p>\n<p><span style=\"font-family: helvetica, arial, sans-serif\">We maintain our target price for SIP, adjusted for the new share count, at VND 68,800 per share (3.7% upside from the closing price of VND 66,400 on August 7, 2025).<\/span><\/p>\n<p><span style=\"font-family: helvetica, arial, sans-serif\">However, we downgrade our rating from <strong>BUY<\/strong> to <strong>HOLD<\/strong> due to the stock\u2019s strong performance, up +10.82% since our BUY recommendation on June 26, 2025 .<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-family: helvetica, arial, sans-serif\"><a href=\"https:\/\/gtjai.com.vn\/wp-content\/uploads\/2025\/08\/EN-GTJASVN_SIP_Updates-on-1H.2025-Business-Result_07.08.2025.pdf\">(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025<\/a><\/span><\/p>\n","protected":false},"author":24,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-32558","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"<title>(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025 - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025 - GTJA\" \/>\n<meta property=\"og:description\" content=\"KEY HIGHLIGHTS\u00a0 Saigon VRG Investment Corporation (SIP) announced its Q2\/2025 business results, with revenue reaching nearly VND 2,130 billion (+10% YoY and +10% QoQ) and net profit after minority interest of VND 309 billion (+3% YoY but -12% QoQ). The profit growth mainly stemmed from improved gross margin and a sharp increase in net financial [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"GTJA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gtjai.com.vn\/#website\",\"url\":\"https:\/\/gtjai.com.vn\/\",\"name\":\"GTJA\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gtjai.com.vn\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/#webpage\",\"url\":\"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/\",\"name\":\"(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025 - GTJA\",\"isPartOf\":{\"@id\":\"https:\/\/gtjai.com.vn\/#website\"},\"datePublished\":\"2025-08-08T07:40:04+00:00\",\"dateModified\":\"2025-08-08T07:40:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/gtjai.com.vn\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025\"}]}]}<\/script>","yoast_head_json":{"title":"(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025 - GTJA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gtjai.com.vn\/en\/research\/en-gtjasvn_sip_updates-on-1h-2025-business-result_07-08-2025\/","og_locale":"en_US","og_type":"article","og_title":"(EN) GTJASVN_SIP_Updates on 1H.2025 Business Result_07.08.2025 - GTJA","og_description":"KEY HIGHLIGHTS\u00a0 Saigon VRG Investment Corporation (SIP) announced its Q2\/2025 business results, with revenue reaching nearly VND 2,130 billion (+10% YoY and +10% QoQ) and net profit after minority interest of VND 309 billion (+3% YoY but -12% QoQ). 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