DRC held its 2021 AGM in Da Nang on April 28, 2021. Shareholders approved changes in company’s charter and internal regulations to comply with the new securities law and corporate law. Management guided for 2021 revenue of VND3.8tn/USD163mn (+6% YoY; 3% below our forecast) and 2021 PBT of VND300bn/USD13mn (-6% YoY; 36% below our forecast). We believe these targets are conservative as they were finalized in Q3 2020 when the company was still negatively impacted by the pandemic.