NQT

Listed Company · UPCOM

Price

—

Latest close

P/E —

EPS (TTM) 1,090

ROE (TTM) 8.9%

P/B —

BVPS (Latest) 12,471

ROA (TTM) 6.4%

What Is Changing

NQT no longer looks like a business simply rebounding from a weak base. Revenue posted +34.3% YoY, while net margin reached 10.64% with an additional -1.4pp 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 19.8bn in 2024.
Revenue growth accelerated to 34.3% in 2024, up 22.7pp versus the prior year.
Net margin declined from 12.03% in the prior period to 10.64% in 2024.

Metric	2024	2023	2022	2021	2020
Revenue	186.4	138.8	124.4	123.2	117.5
Growth	+34%	+12%	+1%	+5%	—
Net Income	19.8	16.7	14.9	14.3	12.5
Net Margin	10.64%	12.03%	12.01%	11.64%	10.65%

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Revenue	52.3	48.8	48.5	36.3	37.8	36.8	35.2	29.0	29.0	35.5	32.4	27.5
Growth	+7%	+0%	+34%	-4%	+3%	+4%	+21%	-0%	-18%	+10%	+18%	—
Net Income	-1.6	4.3	10.2	6.6	1.6	6.9	4.0	4.2	0.5	6.5	4.0	3.9
Net Margin	-3.15%	8.78%	20.98%	18.13%	4.12%	18.87%	11.31%	14.63%	1.89%	18.32%	12.21%	14.27%

Financial Statements

Profitability

Net margin reached 10.64% while Revenue posted +34.3% YoY.

Balance Sheet

Inventory stood at 14.0bn, liabilities at 85.6bn, and equity at 222.4bn.

Cash Flow

Operating cash flow was 60.0bn in 2024, while investing cash flow was -34.7bn.

Financing cash flow: -15.0bn.

Item	2024	2023	2022	2021	2020
Revenue	186.4	138.8	124.5	124.4	118.2
Revenue Deductions	0.0	0.0	0.1	0.0	0.0
Net Revenue	186.4	138.8	124.4	123.2	117.5
Cost of Goods Sold	121.3	90.6	77.9	0.0	0.0
Gross Profit	65.2	48.3	46.5	43.5	42.5
Financial Income	2.0	2.9	2.4	2.7	3.1
Financial Expenses	3.2	3.2	1.8	-2.1	-2.4
Interest Expense	3.2	3.2	1.8	-2.1	-2.4
Share of Associates and Joint Ventures	0.0	0.0	0.0	0.0	0.0
Selling Expenses	20.8	16.5	14.7	-13.1	-13.8
General and Administrative Expenses	18.2	14.3	11.6	-10.3	-10.7
Operating Profit	25.0	17.2	20.8	20.7	18.7
Other Income	1.6	6.0	1.9	0.0	0.0
Other Expenses	1.6	3.0	3.5	0.0	0.0
Other Profit	0.0	3.0	-1.6	-2.1	-4.0
Profit Before Tax	25.0	20.2	19.2	18.6	14.7
Current Income Tax Expense	5.1	3.5	4.2	-4.3	-2.2
Deferred Income Tax Expense	0.0	0.0	0.0	0.0	0.0
Net Income	19.8	16.7	14.9	14.3	12.5
Non-controlling Interest	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	19.8	16.7	14.9	14.3	12.5
Earnings per Share	870.00	842.00	737.00	786.25	686.56
Diluted EPS	870.00	916.24	737.00	786.25	686.56

Item	2024	2023	2022	2021	2020
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	127.0	93.8	102.4	110.6	107.3
I. Cash and cash equivalents	19.3	8.9	14.5	32.3	34.2
1. Cash	19.3	8.9	14.5	0.0	0.0
2. Cash equivalents	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	75.2	46.9	61.4	0.0	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	75.2	46.9	61.4	0.0	0.0
III. Short-term receivables	18.4	19.3	7.0	12.8	13.0
1. Short-term trade accounts receivable	16.3	14.2	5.3	0.0	0.0
2. Short-term prepayments to suppliers	1.6	4.5	0.8	0.0	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	1.0	0.8	1.3	0.0	0.0
7. Provision for short-term doubtful debts (*)	-0.4	-0.2	-0.5	0.0	0.0
8. Assets awaiting resolution	0.0	0.0	0.0	0.0	0.0
IV. Inventories	14.0	15.6	15.1	16.0	19.0
1. Inventories	14.0	15.6	15.1	0.0	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	0.1	3.1	4.5	0.1	0.1
1. Short-term prepayments	0.1	0.6	0.5	0.0	0.0
2. Value added tax to be reclaimed	0.0	2.5	3.9	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.1	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)	181.0	204.3	195.2	152.2	160.4
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	172.3	198.3	140.3	148.3	151.8
1. Tangible fixed assets	171.6	197.4	139.9	147.8	151.6
- Cost	486.5	479.8	411.6	0.0	0.0
- Accumulated depreciation	-314.9	-282.4	-271.7	0.0	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	0.7	0.9	0.4	0.5	0.2
- Cost	1.5	1.5	1.0	0.0	0.0
- Accumulated depreciation	-0.8	-0.6	-0.6	0.0	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	4.3	0.3	53.3	1.6	5.9
1. Long-term production in progress	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	4.3	0.3	53.3	0.0	0.0
V. Long-term financial investments	0.0	0.0	0.0	0.0	0.0
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	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	4.4	5.7	1.6	0.0	0.0
1. Long-term prepayments	4.4	5.7	1.6	0.0	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	2.4	2.7
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)	308.0	298.1	297.6	262.9	267.7
A. LIABILITIES (300=210+330)	85.6	83.8	89.6	59.7	67.4
I. Short -term liabilities	58.0	49.0	45.6	37.3	40.6
1. Short-term trade accounts payable	8.3	12.4	9.9	2.2	5.4
2. Short-term advances from customers	1.3	4.4	3.8	3.1	5.7
3. Taxes and other payables to state authorities	3.3	1.6	2.1	0.0	0.0
4. Payable to employees	18.2	12.7	11.1	0.0	0.0
5. Short-term acrrued expenses	1.7	1.7	1.6	0.0	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	9.3	6.0	8.2	0.0	0.0
10. Short-term borrowings and financial leases	9.4	6.6	5.5	5.5	5.5
11. Provision for short-term liabilities	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	6.5	3.5	3.3	0.0	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	27.6	34.8	44.0	22.4	26.8
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	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	22.9	32.3	41.7	19.4	25.0
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	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	4.7	2.5	2.3	0.0	0.0
14. Provision for severance allowances	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	222.4	214.3	208.0	203.2	200.3
I. Owner's equity	222.4	214.3	208.0	0.0	0.0
1. Owner's capital	182.3	182.3	182.3	203.2	200.3
- Common stock with voting right	182.3	182.3	182.3	182.3	182.3
- 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	20.2	15.2	10.7	0.0	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	19.8	16.7	14.9	14.3	13.3
- Accumulated retained earning at the end of the previous period	0.0	0.0	0.0	0.0	0.0
- Undistributed earnings in this period	19.8	16.7	14.9	14.3	13.3
12. Reserves for investment in construction	0.0	0.0	0.0	0.0	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)	308.0	298.1	297.6	262.9	267.7

Item	2024	2023	2022	2021	2020
Profit Before Tax	0.0	0.0	0.0	0.0	0.0
Depreciation of Fixed Assets and Investment Property	0.0	0.0	0.0	8.6	10.4
Provision (Increase)/Reversal	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
Interest Expense	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Receivables	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Inventory	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	0.0	0.0	0.0	0.0	0.0
Changes in Trading Securities	0.0	0.0	0.0	0.0	0.0
Interest Paid	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-3.9	-4.2	-4.4	0.0	0.0
Other Operating Receipts	29.4	1.2	0.9	0.0	0.0
Other Operating Payments	-31.2	-25.9	-24.7	0.0	0.0
Net Cash Flow from Operating Activities	60.0	21.8	31.4	14.0	-1.1
Payments for Fixed Assets and Other Long-term Assets	-8.2	-28.2	-53.6	-1.0	-1.1
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	0.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	0.0	0.0	0.0	0.0	0.0
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	1.8	3.5	0.4	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	-34.7	-10.2	-63.0	-0.2	-0.1
Proceeds from Equity Issuance and Capital Contributions	0.0	0.0	0.0	0.0	0.0
Share Repurchases	0.0	0.0	0.0	0.0	0.0
Proceeds from Borrowings	0.0	0.0	27.8	0.0	0.0
Repayment of Borrowings	-6.6	-8.3	-5.5	0.0	0.0
Repayment of Finance Leases	0.0	0.0	0.0	-5.5	-5.5
Dividends Paid	-8.4	-8.9	-8.6	-10.0	-6.4
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	-15.0	-17.2	13.7	-15.6	-11.9
Net Cash Flow During the Period	10.3	-5.6	-17.8	-13.2	5.1
Cash and Cash Equivalents at Beginning of Period	8.9	14.5	32.3	34.2	47.3
FX Difference from Revaluation	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	19.3	8.9	14.5	32.3	34.2

Item	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Revenue	52.3	48.8	48.5	36.3	37.8	36.8	35.2	29.0	29.0	35.5	32.5	27.5
Revenue Deductions	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0
Net Revenue	52.3	48.8	48.5	36.3	37.8	36.8	35.2	29.0	29.0	35.5	32.4	27.5
Cost of Goods Sold	41.0	33.7	26.0	20.5	28.7	20.5	24.5	16.8	20.6	19.5	20.8	16.9
Gross Profit	11.3	15.1	22.6	15.8	9.1	16.3	10.7	12.2	8.4	15.9	11.6	10.6
Financial Income	1.2	0.0	0.8	-0.0	1.3	0.0	1.5	0.1	1.6	0.2	0.3	0.4
Financial Expenses	0.8	0.8	0.9	0.8	1.0	0.9	0.8	0.4	0.5	0.4	0.2	0.8
Interest Expense	0.8	0.8	0.9	0.8	1.0	0.9	0.8	0.4	0.5	0.4	0.2	0.8
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	5.6	4.8	6.6	3.8	5.2	4.4	3.6	3.2	3.9	3.3	4.5	3.0
General and Administrative Expenses	8.3	3.7	3.3	2.9	5.3	2.4	3.3	3.3	3.5	3.2	2.5	2.3
Operating Profit	-2.2	5.9	12.6	8.2	-1.1	8.6	4.4	5.3	2.2	9.1	4.8	4.9
Other Income	1.5	0.0	0.8	0.0	4.4	0.3	1.6	0.0	0.6	0.0	1.2	0.1
Other Expenses	1.3	0.5	0.6	0.0	2.0	0.2	1.0	0.0	1.9	0.8	0.9	0.1
Other Profit	0.2	-0.5	0.2	0.0	2.4	0.1	0.5	0.0	-1.3	-0.8	0.2	-0.0
Profit Before Tax	-2.0	5.4	12.8	8.2	1.3	8.7	5.0	5.3	0.9	8.3	5.0	4.9
Current Income Tax Expense	-0.3	1.1	2.6	1.6	-0.3	1.7	1.0	1.1	0.4	1.8	1.1	1.0
Deferred Income Tax Expense	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 Income	-1.6	4.3	10.2	6.6	1.6	6.9	4.0	4.2	0.5	6.5	4.0	3.9
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	-1.6	4.3	10.2	6.6	1.6	6.9	4.0	4.2	0.5	6.5	4.0	3.9
Earnings per Share	-92.40	240.61	572.06	369.62	87.44	746.99	223.92	238.42	30.87	365.01	221.99	220.65
Diluted EPS	-92.40	240.61	572.06	369.62	87.44	746.99	223.92	238.42	30.87	365.01	221.99	220.65

Item	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	126.7	121.8	109.3	89.8	93.8	92.6	98.4	95.4	102.6	115.5	115.2	108.6
I. Cash and cash equivalents	19.3	13.1	16.1	19.5	8.9	14.2	23.7	25.1	14.5	21.6	31.5	31.6
1. Cash	19.3	13.1	16.1	19.5	8.9	14.2	23.7	11.1	14.5	16.2	14.5	14.8
2. Cash equivalents	0.0	0.0	0.0	0.0	0.0	0.0	0.0	14.0	0.0	5.3	16.9	16.8
II. Short-term financial investments	75.2	74.4	60.4	38.5	46.9	45.8	45.8	44.1	61.4	47.2	53.9	50.1
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	75.2	74.4	60.4	38.5	46.9	45.8	45.8	44.1	61.4	47.2	53.9	50.1
III. Short-term receivables	18.6	13.7	14.1	13.8	19.3	14.5	10.2	8.0	7.2	30.1	11.4	12.1
1. Short-term trade accounts receivable	16.5	11.4	11.7	11.0	14.2	12.8	7.5	6.0	5.3	8.2	9.0	9.9
2. Short-term prepayments to suppliers	1.6	1.8	1.9	2.0	4.5	1.5	2.2	1.2	0.8	21.6	1.9	1.2
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	1.0	0.8	0.7	1.1	0.8	0.6	0.9	1.3	1.5	0.4	0.5	1.1
7. Provision for short-term doubtful debts (*)	-0.4	-0.2	-0.2	-0.2	-0.2	-0.4	-0.4	-0.5	-0.5	-0.1	-0.1	-0.1
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	13.5	20.3	18.6	16.3	15.6	14.8	14.4	14.6	15.1	16.0	18.4	14.8
1. Inventories	13.5	20.3	18.6	16.3	15.6	14.8	14.4	14.6	15.1	16.0	18.4	14.8
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	0.1	0.2	0.2	1.7	3.1	3.3	4.2	3.6	4.5	0.7	0.1	0.0
1. Short-term prepayments	0.1	0.2	0.2	0.4	0.6	0.4	0.7	0.5	0.5	0.6	0.0	0.0
2. Value added tax to be reclaimed	0.0	0.0	0.0	1.3	2.5	2.8	3.5	3.1	3.9	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.1	0.1	0.1	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)	181.0	185.1	194.8	200.4	204.3	204.6	205.2	193.5	195.0	145.4	147.8	149.1
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	172.3	177.8	187.1	192.7	198.3	198.4	198.0	136.8	140.1	142.9	143.1	144.3
1. Tangible fixed assets	171.6	177.0	186.3	191.9	197.4	198.1	197.6	136.4	139.7	142.5	142.7	143.9
- Cost	486.5	483.8	480.4	480.1	479.8	483.8	477.5	410.6	409.0	413.5	409.6	406.7
- Accumulated depreciation	-314.9	-306.8	-294.2	-288.3	-282.4	-285.7	-279.9	-274.2	-269.3	-271.1	-266.9	-262.8
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	0.7	0.8	0.8	0.9	0.9	0.4	0.4	0.4	0.4	0.4	0.4	0.5
- 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
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	4.3	2.4	2.4	1.5	0.3	2.4	3.2	55.2	53.3	1.3	2.2	2.1
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	4.3	2.4	2.4	1.5	0.3	2.4	3.2	55.2	53.3	1.3	2.2	2.1
V. Long-term financial 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
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	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	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 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	4.4	4.8	5.3	6.1	5.7	3.7	4.0	1.5	1.6	1.3	2.5	2.7
1. Long-term prepayments	4.4	4.8	5.3	6.1	5.7	3.7	4.0	1.5	1.6	1.3	2.5	2.7
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)	307.7	306.9	304.1	290.2	298.1	297.2	303.6	289.0	297.6	260.9	263.0	257.7
A. LIABILITIES (300=210+330)	85.7	83.2	84.8	69.3	83.8	84.4	97.8	76.7	89.6	53.5	62.0	50.7
I. Short -term liabilities	58.1	56.1	50.1	34.6	49.0	45.0	56.5	32.6	45.6	34.5	43.0	28.4
1. Short-term trade accounts payable	8.3	8.2	6.4	3.1	12.4	8.8	11.8	7.8	9.9	2.4	7.5	2.2
2. Short-term advances from customers	4.5	6.0	7.6	7.9	4.4	3.6	3.5	4.6	3.8	4.0	5.0	5.4
3. Taxes and other payables to state authorities	3.4	5.0	5.9	2.9	1.6	4.1	2.8	1.5	2.1	3.6	2.6	2.1
4. Payable to employees	18.2	14.3	11.8	6.4	12.7	10.2	9.8	4.7	11.1	9.3	9.5	4.4
5. Short-term acrrued expenses	1.8	1.1	1.7	1.2	1.7	1.1	1.7	0.4	1.6	0.4	1.0	0.7
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	6.1	6.5	6.1	6.0	6.0	8.9	17.9	8.7	8.2	8.7	8.2	8.4
10. Short-term borrowings and financial leases	9.4	8.6	3.9	3.9	6.6	4.7	5.5	2.8	5.5	2.8	5.5	2.8
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	6.5	6.6	6.7	3.3	3.5	3.5	3.6	2.2	3.3	3.4	3.8	2.4
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	27.6	27.1	34.7	34.7	34.8	39.3	41.3	44.0	44.0	19.0	19.0	22.4
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	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. Long-term borrowings and financial leases	22.9	24.9	32.3	32.3	32.3	37.0	38.9	41.7	41.7	16.6	16.6	19.4
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	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. 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	4.7	2.3	2.3	2.4	2.5	2.3	2.3	2.3	2.3	2.3	2.3	2.9
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)	222.0	223.6	219.3	220.9	214.3	212.8	205.8	212.3	208.0	207.5	201.0	207.0
I. Owner's equity	222.0	223.6	219.3	220.9	214.3	212.8	205.8	212.3	208.0	207.5	201.0	207.0
1. Owner's capital	182.3	182.3	182.3	182.3	182.3	182.3	182.3	182.3	182.3	182.3	182.3	182.3
- Common stock with voting right	178.0	178.0	178.0	178.0	178.0	93.0	178.0	178.0	178.0	178.0	178.0	178.0
- Preferred stock	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3
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	20.2	20.2	20.2	15.2	15.2	15.2	15.2	10.7	10.7	10.7	10.7	6.5
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	19.4	21.0	16.8	23.3	16.8	15.2	8.3	19.2	14.9	14.4	7.9	18.1
- Accumulated retained earning at the end of the previous period	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Undistributed earnings in this period	19.4	21.0	16.8	23.3	16.8	15.2	8.3	19.2	14.9	14.4	7.9	18.1
12. Reserves for investment in construction	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. 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)	307.7	306.9	304.1	290.2	298.1	297.2	303.6	289.0	297.6	260.9	263.0	257.7

Item	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Profit Before Tax	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Depreciation of Fixed Assets and Investment Property	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Provision (Increase)/Reversal	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Expense	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 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	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working 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
Increase/(Decrease) in 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
Increase/(Decrease) in Inventory	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Prepaid 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
Changes in Trading 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
Interest Paid	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-1.0	-2.5	-0.0	-0.4	-2.0	-0.5	-0.0	-1.7	-1.2	-1.0	-1.0	-1.2
Other Operating Receipts	0.7	4.1	-3.5	8.7	-17.7	18.2	-17.4	18.2	-16.1	16.6	-0.4	0.9
Other Operating Payments	-16.6	-59.8	-2.6	-11.2	9.2	-20.2	-2.8	-12.1	13.5	-26.6	-0.5	-11.2
Net Cash Flow from Operating Activities	7.8	-12.3	18.6	13.4	6.8	20.5	-19.3	13.9	28.0	-14.4	15.9	1.9
Payments for Fixed Assets and Other Long-term Assets	-0.7	-0.6	-1.0	-0.1	-27.4	-0.0	-0.3	-0.5	-53.2	4.2	-4.6	-0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.0	0.0	0.0	0.0	0.0	-0.2	0.2	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	0.0	-0.9	0.9	0.0	3.5	-2.5	2.5	0.0	0.1	0.0	0.1	0.2
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	-0.7	12.0	-13.6	-0.1	-9.3	-18.3	18.0	-0.5	-62.9	7.3	-7.5	0.1
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	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	27.8	0.0	0.0	0.0
Repayment of Borrowings	0.0	2.8	-2.8	0.0	-8.3	2.8	-2.8	0.0	-5.5	2.8	-2.8	0.0
Repayment of Finance Leases	-1.0	-5.5	2.8	-2.8	5.5	-5.5	2.8	-2.8	5.5	-5.5	2.8	-2.8
Dividends Paid	-0.0	0.1	-8.3	-0.0	0.0	-8.9	0.0	0.0	0.0	0.0	-8.6	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	-1.0	-2.7	-8.3	-2.8	-2.7	-11.7	0.0	-2.8	27.8	-2.8	-8.6	-2.8
Net Cash Flow During the Period	6.1	-3.0	-3.4	10.6	-5.3	-9.5	-1.4	10.6	-7.1	-9.9	-0.1	-0.8
Cash and Cash Equivalents at Beginning of Period	8.9	8.9	8.9	8.9	14.5	14.5	14.5	14.5	32.3	32.3	32.3	32.3
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	19.3	13.1	16.1	19.5	8.9	14.2	23.7	25.1	14.5	21.6	31.5	31.6

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