Company Insight

Nam Viet Corporation (HOSE: ANV) is one of Vietnam’s leading seafood exporters, specializing in pangasius (tra fish). ANV operates a fully integrated 100% value chain - from breeding, farming, and processing to distribution - enabling the company to maintain full control over quality, costs, and compliance with international standards. After expanding into the tilapia segment in 2014, 2025 marks a breakthrough year for this business line, unlocking a new growth driver for the future. Over the long term, we expect ANV to sustain strong growth momentum, driven by: (1) A comprehensive integrated value chain; (2) Pioneering leadership in tilapia, a new growth pillar alongside pangasius; (3) A diversified market strategy that ensures stable and sustainable pangasius exports. Using FCFF and P/E methods with a weight of 50:50, we update ANV’s target price at VND 35,700, representing an expected return of 22.5%.