DXS reported Q3 2021 results with net revenue of VND894bn (USD39mn; -6% YoY) and NPAT-MI of VND169bn (USD7.4mn; -46% YoY). We attribute these weak results mainly due to the nationwide social distancing measures as a result of fourth wave of COVID-19 in Vietnam even though DXS was able to move its sales operations online to cope with the situation.