The PAN Group (HOSE: PAN) is a conglomerate in the agri-food industry. The company is involved in several agri-food subsegments such as seeds, flowers, agrochemicals and seafood.

 PAN has adopted a horizontal integration strategy and is currently the largest shareholder of many top companies in Vietnam’s agri-food industry, including Vietnam National Seed Group (HOSE: NSC), Vietnam Fumigation JSC (HOSE: VFG) and Sao Ta JSC (HOSE: FMC).

PAN’s earnings surged 91% in 9M 2022 due to (1) a more favorable market situation that improved the earnings of all business lines, (2) newly consolidated