We attended NT2’s AGM in HCMC on April 28, 2021. Management focused on addressing investor concern regarding the company’s 2021 earnings guidance, the power purchase agreement (PPA) review and cash dividend policy. Shareholders approved management’s 2021 guidance, including revenue of VND7.7tn (USD330mn; +27% YoY) and NPAT of VND462bn (USD20m; -26% YoY). Management explained the strong growth in revenue is mainly due to its higher electricity sales volume assumption and higher gas costs