DNA

Listed Company · UPCOM

Price

26,500

Latest close

03 Apr 2026

P/E 10.4x

EPS (TTM) 2,548

ROE (TTM) 19.1%

P/B 1.7x

BVPS (Latest) 15,364

ROA (TTM) 10.2%

What Is Changing

DNA no longer looks like a business simply rebounding from a weak base. Revenue posted +4.6% YoY, while net margin reached 5.94% with an additional -0.1pp improvement versus the prior year. The next question is whether current profit momentum can hold through the next cycle.

Net Income reached a multi-period high at VND 163.5bn in 2025.

Metric	2025	2024	2023	2022	2021
Revenue	2,752.0	2,630.4	2,332.4	2,054.0	1,920.6
Growth	+5%	+13%	+14%	+7%	—
Net Income	163.5	157.6	126.9	114.0	110.9
Net Margin	5.94%	5.99%	5.44%	5.55%	5.78%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	654.8	702.1	760.8	634.3	607.5	637.1	755.3	630.5	562.4	611.7	649.9	508.4
Growth	-7%	-8%	+20%	+4%	-5%	-16%	+20%	+12%	-8%	-6%	+28%	—
Net Income	28.0	38.5	50.0	47.0	26.8	29.6	36.6	64.6	-2.5	51.9	47.3	30.4
Net Margin	4.28%	5.48%	6.58%	7.41%	4.42%	4.64%	4.84%	10.25%	-0.45%	8.48%	7.27%	5.98%

Financial Statements

Profitability

Net margin reached 5.94% while Revenue posted +4.6% YoY.

Balance Sheet

Inventory stood at 43.6bn, liabilities at 787.5bn, and equity at 865.5bn.

Cash Flow

Operating cash flow was 268.5bn in 2024, while investing cash flow was -104.4bn.

Financing cash flow: -131.1bn.

Item	2025	2024	2023	2022	2021
Revenue	2,752.0	2,630.4	2,332.4	2,054.0	1,920.6
Revenue Deductions	0.0	0.0	0.0	0.0	0.0
Net Revenue	2,752.0	2,630.4	2,332.4	2,054.0	1,920.6
Cost of Goods Sold	2,227.6	2,114.7	1,907.1	1,679.1	0.0
Gross Profit	524.4	515.7	425.4	374.9	345.2
Financial Income	2.0	3.1	2.0	2.8	5.3
Financial Expenses	20.5	20.2	24.0	25.1	-22.0
Interest Expense	20.5	20.2	24.0	25.1	-22.0
Share of Associates and Joint Ventures	0.0	0.0	0.0	0.0	-0.0
Selling Expenses	184.4	176.4	151.6	147.2	-142.2
General and Administrative Expenses	128.3	132.3	106.9	69.3	-69.2
Operating Profit	193.1	189.9	144.8	136.1	117.1
Other Income	21.4	16.1	26.3	19.1	0.0
Other Expenses	10.1	8.9	13.3	12.5	0.0
Other Profit	11.3	7.2	12.9	6.7	21.6
Profit Before Tax	204.4	197.0	157.7	142.7	138.7
Current Income Tax Expense	39.3	33.4	33.7	27.8	-27.8
Deferred Income Tax Expense	1.6	6.1	-2.9	0.9	0.0
Net Income	163.5	157.6	126.9	114.0	110.9
Non-controlling Interest	0.0	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	163.5	157.6	126.9	114.0	110.9
Earnings per Share	1,953.00	2,715.00	1,755.00	1,613.00	1,593.00
Diluted EPS	1,953.00	2,715.00	1,755.00	1,613.00	1,969.63

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	500.1	413.6	388.0	348.6	350.3
I. Cash and cash equivalents	161.7	46.5	13.5	17.2	3.3
1. Cash	161.7	46.5	13.5	17.2	0.0
2. Cash equivalents	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	35.3	45.3	45.3	44.8	0.0
1. Available for sale securities	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	35.3	45.3	45.3	44.8	0.0
III. Short-term receivables	232.4	256.1	271.7	231.9	238.1
1. Short-term trade accounts receivable	221.4	238.4	246.7	201.0	0.0
2. Short-term prepayments to suppliers	5.0	0.9	18.8	22.8	0.0
3. Short-term inter-company receivables	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	7.4	17.9	7.6	8.6	0.0
7. Provision for short-term doubtful debts (*)	-1.3	-1.1	-1.5	-0.6	0.0
8. Assets awaiting resolution	0.0	0.0	0.0	0.0	0.0
IV. Inventories	43.6	40.1	41.2	40.1	47.0
1. Inventories	43.6	40.1	41.2	40.1	0.0
2. Provision for decline in value of inventories	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	27.0	25.7	16.3	14.6	18.0
1. Short-term prepayments	27.0	25.7	16.3	14.6	0.0
2. Value added tax to be reclaimed	0.0	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0	0.0
4. Government bonds	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,152.9	1,137.6	1,133.1	1,149.1	1,184.8
I. Long-term receivables	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	976.4	983.3	982.4	990.1	1,014.7
1. Tangible fixed assets	959.4	966.0	965.0	972.8	997.8
- Cost	2,265.8	2,167.2	2,065.5	1,975.7	0.0
- Accumulated depreciation	-1,306.4	-1,201.1	-1,100.5	-1,002.9	0.0
2. Financial leased fixed assets	0.0	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	17.0	17.2	17.3	17.3	17.0
- Cost	18.8	18.8	18.7	18.4	0.0
- Accumulated depreciation	-1.7	-1.5	-1.3	-1.1	0.0
III. Investment properties	0.0	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	30.7	24.2	44.9	28.0	39.4
1. Long-term production in progress	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	30.7	24.2	44.9	28.0	0.0
V. Long-term financial investments	3.6	5.6	5.6	4.6	5.6
1. Investments in subsidiaries	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	0.1	0.1	0.1	0.1	0.0
4. Provision for diminution in value of long-term investments	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	3.5	5.5	5.5	4.5	0.0
6. Other long-term investments	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	142.2	124.6	100.2	126.4	0.0
1. Long-term prepayments	142.2	124.6	100.2	126.4	0.0
2. Deferred income tax assets	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	0.0	0.0	0.0	0.0	125.1
5. Goodwill	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,653.0	1,551.2	1,521.1	1,497.8	1,535.1
A. LIABILITIES (300=210+330)	787.5	705.4	688.3	668.3	712.5
I. Short -term liabilities	478.0	408.3	377.2	271.9	282.1
1. Short-term trade accounts payable	174.0	166.2	90.4	29.2	46.5
2. Short-term advances from customers	0.3	0.2	1.6	0.2	0.6
3. Taxes and other payables to state authorities	43.8	42.6	35.4	31.0	0.0
4. Payable to employees	43.3	58.4	25.8	15.6	0.0
5. Short-term acrrued expenses	0.6	0.7	66.8	86.0	0.0
6. Short-term inter-company payables	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	81.2	30.2	24.5	43.2	0.0
10. Short-term borrowings and financial leases	96.7	91.7	119.6	54.4	51.2
11. Provision for short-term liabilities	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	38.2	18.3	13.0	12.2	0.0
13. Price stabilization fund	0.0	0.0	0.0	0.0	0.0
14. Government bonds	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	309.5	297.1	311.2	396.5	430.4
1. Long-term trade payables	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	107.2	151.1	152.4	137.3	0.0
8. Long-term borrowings and financial leases	186.5	131.8	150.6	247.9	284.3
9. Convertible bonds	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	0.0	0.0	0.0	0.0	0.0
11. Deferred income tax liabilities	15.8	14.2	8.1	11.1	0.0
12. Provision for long-term liabilities	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	0.0	0.0	0.0	0.2	0.0
14. Provision for severance allowances	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	865.5	845.8	832.8	829.4	822.7
I. Owner's equity	865.5	845.8	832.8	829.4	0.0
1. Owner's capital	563.3	563.3	563.3	563.3	822.7
- Common stock with voting right	563.3	563.3	563.3	563.3	563.3
- Preferred stock	0.0	0.0	0.0	0.0	0.0
2. Share premium	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	0.0	0.0	0.0	0.0	0.0
6. Assets revaluation differences	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	181.0	155.5	117.5	103.1	0.0
9. Fund to support corporate restructuring	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	121.2	127.1	127.1	124.4	125.0
- Accumulated retained earning at the end of the previous period	36.7	42.6	42.6	40.3	39.5
- Undistributed earnings in this period	84.5	84.5	84.5	84.1	85.4
12. Reserves for investment in construction	0.0	0.0	24.9	38.7	0.0
13. Minority's interest	0.0	0.0	0.0	0.0	0.0
14. Financial reserves	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,653.0	1,551.2	1,521.1	1,497.8	1,535.1

Item	2024	2023	2022	2021	2020
Profit Before Tax	197.0	157.7	142.7	117.6	160.2
Depreciation of Fixed Assets and Investment Property	101.8	99.1	98.4	67.0	85.1
Provision (Increase)/Reversal	0.8	1.4	0.5	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-3.0	-1.8	-2.7	0.0	0.0
Interest Expense	20.2	24.0	25.1	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	0.0	0.0	0.0	0.0	0.0
Other Adjustments	0.0	-0.2	-0.2	0.0	0.0
Operating Profit Before Changes in Working Capital	316.9	280.2	263.8	190.8	253.0
Increase/(Decrease) in Receivables	14.8	-38.0	5.4	0.0	0.0
Increase/(Decrease) in Inventory	1.6	-0.1	7.5	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	54.1	34.2	-30.2	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	-33.8	18.4	2.0	0.0	0.0
Changes in Trading Securities	0.0	0.0	0.0	0.0	0.0
Interest Paid	-21.7	-25.6	-26.8	0.0	0.0
Corporate Income Tax Paid	-33.7	-28.5	-5.8	0.0	0.0
Other Operating Receipts	0.0	0.1	0.0	0.0	0.0
Other Operating Payments	-29.7	-27.4	-24.9	0.0	0.0
Net Cash Flow from Operating Activities	268.5	213.3	190.9	75.0	153.2
Payments for Fixed Assets and Other Long-term Assets	-107.4	-101.3	-62.9	-137.0	-263.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-7.0	-49.0	-30.0	-1.5	-25.5
Receipts from Loan Repayments and Sale of Debt Instruments	7.0	47.5	30.0	0.0	22.3
Investments in Other Entities	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	3.0	3.1	2.7	0.0	0.0
Increase/(Decrease) in Term Deposits	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-104.4	-99.6	-60.1	-136.7	-260.3
Proceeds from Equity Issuance and Capital Contributions	0.0	0.0	0.0	26.8	0.0
Share Repurchases	0.0	0.0	0.0	0.0	0.0
Proceeds from Borrowings	92.4	105.3	76.5	78.2	194.1
Repayment of Borrowings	-139.0	-137.5	-109.7	-77.7	-87.9
Repayment of Finance Leases	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-84.5	-85.2	-83.7	-1.0	-51.1
Other Financing Receipts	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-131.1	-117.4	-117.0	26.3	55.2
Net Cash Flow During the Period	33.0	-3.7	13.9	-38.1	2.7
Cash and Cash Equivalents at Beginning of Period	13.5	17.2	3.3	70.9	122.9
FX Difference from Revaluation	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	46.5	13.5	17.2	3.3	70.9

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	654.8	702.1	760.8	634.3	607.5	637.1	755.3	630.5	562.4	611.7	649.9	508.4
Revenue Deductions	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	654.8	702.1	760.8	634.3	607.5	637.1	755.3	630.5	562.4	611.7	649.9	508.4
Cost of Goods Sold	541.7	571.7	604.6	509.6	486.5	524.7	614.5	488.9	509.3	488.1	508.0	401.7
Gross Profit	113.1	130.4	156.1	124.7	121.0	112.4	140.8	141.5	53.0	123.6	141.9	106.8
Financial Income	0.8	0.3	0.5	0.3	1.3	0.4	0.8	0.6	0.8	0.9	-0.1	0.4
Financial Expenses	5.8	5.5	4.5	4.7	4.7	4.9	4.6	6.0	5.1	6.1	5.8	7.0
Interest Expense	5.8	5.5	4.5	4.7	4.7	4.9	4.6	6.0	5.1	6.1	5.8	7.0
Share of Associates and Joint Ventures	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	38.6	45.5	55.5	44.8	36.1	40.0	60.7	39.6	38.5	37.9	37.9	37.3
General and Administrative Expenses	36.8	33.3	36.3	21.9	50.1	32.6	32.7	16.9	22.0	17.3	42.0	25.6
Operating Profit	32.7	46.4	60.4	53.6	31.4	35.2	43.6	79.6	-11.7	63.3	56.0	37.2
Other Income	8.0	1.9	6.3	5.2	6.6	5.9	2.3	1.3	19.9	2.2	3.6	0.6
Other Expenses	5.7	0.2	4.2	0.1	4.5	4.1	0.2	0.2	12.4	0.6	0.5	-0.2
Other Profit	2.3	1.7	2.1	5.1	2.1	1.8	2.1	1.1	7.5	1.6	3.1	0.8
Profit Before Tax	35.0	48.1	62.5	58.7	33.5	37.0	45.7	80.8	-4.2	64.9	59.1	38.0
Current Income Tax Expense	7.9	9.6	10.0	11.7	2.2	7.5	7.6	16.2	2.0	13.0	11.1	7.6
Deferred Income Tax Expense	-0.9	0.0	2.5	0.0	4.5	0.0	1.6	0.0	-3.6	0.0	0.7	0.0
Net Income	28.0	38.5	50.0	47.0	26.8	29.6	36.6	64.6	-2.5	51.9	47.3	30.4
Non-controlling Interest	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	28.0	38.5	50.0	47.0	26.8	29.6	36.6	64.6	-2.5	51.9	47.3	30.4
Earnings per Share	386.00	569.00	760.00	833.00	370.00	439.00	542.00	1,145.00	-30.00	770.00	838.00	539.00
Diluted EPS	497.33	682.76	888.24	834.17	476.21	524.68	649.13	1,146.99	-44.45	921.13	838.85	539.49

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	500.1	496.3	538.8	418.9	412.4	459.6	581.4	421.2	386.8	395.3	428.2	332.5
I. Cash and cash equivalents	161.7	45.0	82.5	29.8	46.5	14.7	92.8	26.5	13.5	7.2	60.1	9.4
1. Cash	161.7	45.0	82.5	29.8	46.5	14.7	92.8	26.5	13.5	7.2	60.1	9.4
2. Cash equivalents	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	35.3	35.3	35.3	28.3	45.3	45.3	45.3	45.3	45.3	36.3	45.3	45.3
1. Available for sale securities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	35.3	35.3	35.3	28.3	45.3	45.3	45.3	45.3	45.3	36.3	45.3	45.3
III. Short-term receivables	232.4	326.7	336.5	288.5	256.1	324.9	372.3	287.5	271.7	290.1	264.9	221.0
1. Short-term trade accounts receivable	221.4	314.7	315.7	268.0	238.4	297.0	343.0	255.1	246.7	255.2	228.2	187.1
2. Short-term prepayments to suppliers	5.0	3.3	1.9	2.3	0.9	19.0	20.8	22.8	18.8	24.2	26.9	24.0
3. Short-term inter-company receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	7.4	9.9	20.0	19.3	17.9	10.3	9.9	11.1	7.6	11.3	10.4	10.4
7. Provision for short-term doubtful debts (*)	-1.3	-1.1	-1.1	-1.1	-1.1	-1.5	-1.5	-1.5	-1.5	-0.6	-0.6	-0.6
8. Assets awaiting resolution	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	43.6	44.7	45.5	42.8	40.1	40.8	37.3	37.9	41.2	36.5	36.5	39.3
1. Inventories	43.6	44.7	45.5	42.8	40.1	40.8	37.3	37.9	41.2	36.5	36.5	39.3
2. Provision for decline in value of inventories	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	27.0	44.6	39.0	29.4	24.4	34.0	33.7	23.9	15.1	25.1	21.3	17.4
1. Short-term prepayments	27.0	43.8	39.0	29.4	24.4	34.0	33.7	23.9	15.1	25.1	21.3	17.4
2. Value added tax to be reclaimed	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.8	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Government bonds	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,152.9	1,132.5	1,132.2	1,131.7	1,138.9	1,127.8	1,121.8	1,119.7	1,134.3	1,114.4	1,112.0	1,132.4
I. Long-term receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	976.4	976.3	976.9	977.4	983.3	984.8	990.9	991.7	982.4	965.3	977.0	986.2
1. Tangible fixed assets	959.4	959.3	959.7	960.2	966.0	967.6	973.6	974.4	965.0	947.9	959.6	968.7
- Cost	2,265.8	2,238.9	2,213.1	2,187.5	2,167.2	2,143.2	2,123.7	2,099.5	2,065.5	2,023.1	2,010.5	1,995.5
- Accumulated depreciation	-1,306.4	-1,279.6	-1,253.3	-1,227.3	-1,201.1	-1,175.7	-1,150.1	-1,125.1	-1,100.5	-1,075.2	-1,051.0	-1,026.8
2. Financial leased fixed assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	17.0	17.1	17.1	17.2	17.2	17.2	17.2	17.3	17.3	17.4	17.4	17.5
- Cost	18.8	18.8	18.8	18.8	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-1.7	-1.7	-1.6	-1.6	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	30.7	29.5	29.6	26.4	24.2	32.5	30.1	27.3	44.9	35.7	20.8	26.2
1. Long-term production in progress	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	30.7	29.5	29.6	26.4	24.2	32.5	30.1	27.3	44.9	35.7	20.8	26.2
V. Long-term financial investments	3.6	3.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	3.6	4.6
1. Investments in subsidiaries	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
4. Provision for diminution in value of long-term investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	3.5	3.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	3.5	4.5
6. Other long-term investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	142.2	123.1	120.2	122.4	125.8	104.9	95.3	95.1	101.4	107.9	110.6	115.5
1. Long-term prepayments	142.2	123.1	120.2	122.4	125.8	104.9	95.3	95.1	101.4	107.9	110.6	115.5
2. Deferred income tax assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,653.0	1,628.9	1,671.1	1,550.6	1,551.2	1,587.4	1,703.2	1,540.9	1,521.1	1,509.7	1,540.2	1,464.9
A. LIABILITIES (300=210+330)	787.5	750.8	831.5	657.8	705.4	723.0	868.4	643.5	695.7	648.0	730.4	605.0
I. Short -term liabilities	478.0	461.4	581.3	349.2	408.3	440.3	574.7	355.2	316.4	301.9	360.4	210.1
1. Short-term trade accounts payable	174.0	192.0	211.3	183.3	166.2	130.7	188.5	111.4	90.4	34.4	23.8	31.2
2. Short-term advances from customers	0.3	0.7	0.9	0.7	0.2	0.7	2.1	2.2	1.6	0.4	0.6	0.5
3. Taxes and other payables to state authorities	43.8	33.1	26.3	18.7	42.6	35.1	29.4	26.7	35.4	35.4	24.4	11.7
4. Payable to employees	43.3	55.4	50.6	13.2	58.4	65.8	61.4	7.8	25.8	36.4	32.3	3.8
5. Short-term acrrued expenses	0.6	0.5	0.5	0.7	0.7	71.8	71.8	66.8	66.8	100.8	100.8	86.0
6. Short-term inter-company payables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	81.2	62.5	155.2	44.0	30.2	34.9	111.5	30.2	24.5	42.8	121.6	47.0
10. Short-term borrowings and financial leases	96.7	111.1	118.7	87.3	91.7	100.0	97.5	108.9	51.4	51.0	45.0	27.9
11. Provision for short-term liabilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	38.2	6.0	17.8	1.4	18.3	1.2	12.5	1.3	20.4	0.8	11.9	2.1
13. Price stabilization fund	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	309.5	289.5	250.2	308.6	297.1	282.7	293.6	288.3	379.4	346.1	370.0	394.9
1. Long-term trade payables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	107.2	117.2	107.2	151.2	151.1	151.1	151.1	151.1	152.4	136.6	137.2	137.2
8. Long-term borrowings and financial leases	186.5	155.5	126.2	143.2	131.8	121.9	132.9	129.1	218.8	197.5	220.8	246.4
9. Convertible bonds	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Deferred income tax liabilities	15.8	16.7	16.7	14.2	14.2	9.7	9.7	8.1	8.1	11.8	11.8	11.1
12. Provision for long-term liabilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.2	0.2	0.2
14. Provision for severance allowances	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	865.5	878.0	839.5	892.8	845.8	864.4	834.9	897.4	825.4	861.7	809.8	859.8
I. Owner's equity	865.5	878.0	839.5	892.8	845.8	864.4	834.9	897.4	825.4	861.7	809.8	859.8
1. Owner's capital	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3
- Common stock with voting right	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3	563.3
- Preferred stock	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Share premium	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Assets revaluation differences	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	181.0	174.5	174.5	155.5	155.5	124.7	124.7	117.5	110.1	106.6	106.6	103.1
9. Fund to support corporate restructuring	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	121.2	140.2	101.8	174.1	127.1	151.4	121.9	191.7	127.1	153.1	101.3	154.8
- Accumulated retained earning at the end of the previous period	36.7	42.6	42.6	127.1	42.6	42.6	42.6	127.1	42.6	39.9	39.9	124.4
- Undistributed earnings in this period	84.5	97.7	59.2	47.0	84.5	108.9	79.3	64.6	84.5	113.3	61.4	30.4
12. Reserves for investment in construction	0.0	0.0	0.0	0.0	0.0	24.9	24.9	24.9	24.9	38.7	38.7	38.7
13. Minority's interest	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Financial reserves	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,653.0	1,628.9	1,671.1	1,550.6	1,551.2	1,587.4	1,703.2	1,540.9	1,521.1	1,509.7	1,540.2	1,464.9

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Profit Before Tax	35.0	48.1	62.5	58.7	33.5	37.0	45.7	80.8	18.7	42.0	59.1	38.0
Depreciation of Fixed Assets and Investment Property	27.8	25.9	21.4	31.4	25.5	25.1	25.3	24.9	26.6	24.1	23.8	24.5
Provision (Increase)/Reversal	0.7	0.0	0.0	0.0	-0.3	0.0	0.0	0.0	1.4	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.7	-0.3	-0.4	-0.3	0.9	0.2	-0.7	-0.6	15.9	-17.6	0.2	-0.4
Interest Expense	5.6	5.7	4.5	4.7	4.7	4.9	4.6	6.0	5.1	6.1	5.8	7.0
Gain/Loss on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-0.2	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	68.5	79.3	88.0	94.5	64.3	67.2	74.9	111.1	67.5	54.5	89.0	69.2
Increase/(Decrease) in Receivables	98.2	9.0	-47.9	-32.4	51.1	43.5	-96.3	-4.1	16.8	-21.1	-37.9	4.1
Increase/(Decrease) in Inventory	1.6	0.6	-2.5	-2.7	-0.6	-4.3	1.0	3.3	-3.6	-0.2	2.9	0.9
Increase/(Decrease) in Payables (Excl. Interest and CIT)	116.7	-110.9	1.0	30.0	-26.9	-133.1	34.6	110.6	13.0	-3.2	29.6	-5.2
Increase/(Decrease) in Prepaid Expenses	-2.3	-7.8	-7.4	-1.5	-11.8	-9.5	-9.9	-2.6	10.4	-1.1	1.0	8.2
Changes in Trading Securities	0.0	0.0	0.0	0.0	1.0	33.0	0.0	0.0	18.3	-18.3	0.0	0.0
Interest Paid	-21.6	0.0	-5.7	-4.7	0.0	-22.2	-5.7	-5.8	-25.6	13.7	-7.0	-6.7
Corporate Income Tax Paid	-66.8	66.8	-21.6	-11.7	0.0	33.7	-6.7	-26.9	-28.5	27.8	0.0	-27.8
Other Operating Receipts	103.6	-103.3	84.5	-84.5	5.8	-5.8	102.8	-102.8	11.6	-11.6	0.1	0.0
Other Operating Payments	-39.8	0.0	-19.3	0.0	-21.1	15.1	6.3	-21.4	-27.4	13.2	-9.9	-3.3
Net Cash Flow from Operating Activities	258.0	-36.6	69.1	-13.2	61.9	17.6	101.0	61.3	52.4	53.7	67.9	39.4
Payments for Fixed Assets and Other Long-term Assets	-74.3	-25.0	-24.3	-27.7	-15.4	-21.0	-27.6	-16.6	-46.1	-26.8	-9.4	-18.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-39.0	19.0	-24.0	17.0	-57.0	7.0	-7.0	0.0	-56.5	14.5	0.0	-7.0
Receipts from Loan Repayments and Sale of Debt Instruments	39.0	0.0	17.0	0.0	57.0	-7.0	7.0	0.0	47.5	-7.5	1.0	6.5
Investments in Other Entities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.8	0.4	0.4	0.3	1.4	0.7	0.5	0.6	1.4	0.9	0.4	0.4
Increase/(Decrease) in Term Deposits	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-73.5	-22.7	-30.9	-10.4	-14.1	-20.4	-27.1	-16.0	-53.7	-18.9	-7.9	-19.1
Proceeds from Equity Issuance and Capital Contributions	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share Repurchases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Borrowings	52.0	46.2	40.6	41.0	33.8	17.7	23.3	17.5	72.4	-5.8	17.7	21.0
Repayment of Borrowings	-35.5	-24.6	-26.1	-34.0	-32.2	-26.1	-30.9	-49.7	-50.7	-11.5	-26.2	-49.1
Repayment of Finance Leases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-84.4	0.0	-0.0	0.0	-17.6	-66.9	0.0	0.0	-14.1	-70.4	-0.7	0.0
Other Financing Receipts	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-67.9	21.7	14.5	7.0	-16.0	-75.3	-7.6	-32.2	7.6	-87.7	-9.2	-28.1
Net Cash Flow During the Period	116.7	-37.5	52.7	-16.6	31.8	-78.1	66.3	13.0	6.3	-52.9	50.7	-7.8
Cash and Cash Equivalents at Beginning of Period	45.0	82.5	29.8	46.5	13.5	13.5	13.5	13.5	17.2	17.2	17.2	17.2
FX Difference from Revaluation	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	161.7	45.0	82.5	29.8	46.5	14.7	92.8	26.5	13.5	7.2	60.1	9.4

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