Company Insight

We recommend BUY with our TP for QNS at VND 64,200 to reflect our expectation on the company earnings in 2023-2024. We believe that QNS business result keep uplifting since (1) QNS maintain leading position in soymilk segment and margin improvement, (2) sugar revenue’s growth rate continue to upward, and (3) solid finance strengthens and high dividend payout ratio.