- DIG announced Q3 2023 results with net revenue declining 44% YoY to VND235bn (USD10mn) but its NPAT-MI was VND17bn (USD0.7mn) vs a net loss of VND1bn (USD41,700) in Q3 2022 due to lower financial expenses.

- In 9M 2023, DIG’s revenue declined 61% YoY to VND594bn (USD25mn) while its NPAT-MI dropped 25% YoY to VND106bn (USD4.4mn), fulfilling 30% and 53% of our respective full-year forecasts. We foresee downside risk in our 2023F forecasts, pending a more comprehensive review.

- The property sales segment (accounting for 39% of 9M 2023 revenue) reported a 9M 2023 decline of 76% YoY in revenue (VND231bn/USD10mn) and 79% YoY in gross profit (VND98bn/USD4mn).