We provide an update on TNG following our last report, dated November 8, 2021.

TNG’s 2022 revenue and NPAT were both record highs of VND6.7tn (+24% YoY) and VND293bn (+26% YoY), respectively.

Despite a less positive outlook for the textile & garment market, TNG is still targeting NPAT  growth of 2% YoY, which implies that management has optimistic expectations for the year.