- DRC announced its 9M 2023 results with net revenue of VND3.4tn (USD139mn; -10% YoY) and NPAT-MI of VND152bn (USD6.2mn; -33% YoY).  
- For Q3 2023, net revenue was VND1.1tn (USD46.0mn; -17% YoY & -3% QoQ) and NPAT-MI was VND76bn (USD3.1mn; -2% YoY & 48.6% QoQ). Net revenue remained low due to economic headwinds. However, we noticed a strong QoQ profitability improvement thanks to lower input cost inventories.  
- 9M 2023 revenue and NPAT-MI fulfilled 67% and 42% of our respective full-year forecasts. We see a downside risk to our current projections, pending a fuller review.