[HAH/BUY/TP: VND 65,100] - Against the storm
04/11/2022

Summary

Hai An Transport and Stevedoring JSC (HAH) is one of the leading shipping companies in Vietnam. With a strong investment plan for the future fleet, Hai An increasingly asserts its leading position in the field of container ship transportation.

In recent months, sea freight rates have dramatically dropped. However, because half of Hai An's fleet is leased out for a term of 1-2 years at a high fixed rental price, this does not have a significant influence on Hai An's commercial results in 2022. After 9 months of 2022, Hai An's revenue increased by 203% and profit increased by 84% compared to 9 months of 2021.

We update our valuation for HAH stock at VND 65,100 for 89% return.

Company
HAH-Hai An Transport
Category
Update
Author
SSV
Details

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