Company Insight

Update coverage with BUY call and target price of VND 45,400

Sonadezi Chau Duc Joint Stock Company (SZC) is a key developer of industrial park and real estate projects in Chau Duc district, Ba Ria - Vung Tau province, with a 2,287-hectare land bank for industrial parks, urban areas, and golf courses. Sonadezi Châu Đức reported solid business performance in H1/2025 with an estimated leased area of 30 hectares. Based on the latest updates regarding global tariff policies, we believe Vietnam continues to maintain its advantage in attracting FDI inflows, thereby sustaining demand for land leasing in industrial parks. Applying the RNAV valuation method, we value SZC at VND 45,400.