Company Insight

Binh Minh Plastics JSC (HSX: BMP) is a construction plastics manufacturer holding the second-largest market share nationwide and the leading position in the Southern region. Using the P/E and DCF valuation methods with respective weightings of 50% and 50%, we update our valuation for BMP at VND 189,100 per share, implying an expected return of 20%. We expect BMP to set a new record profit in 2026, supported by the continued decline in global PVC prices.