VRC

Bất động sản và Đầu tư VRC ·HOSE ·2026Q1

▼▼ Declining sharply

Margins remain under pressure Net margin 14.32%, −106.31pp YoY

Price

13,000

Latest close

03 Jun 2026

P/E 866.67x

P/B 0.51x

EPS 15

BVPS 25,471

ROE 0.1%

ROA 0.0%

Profit Margin 9.6%

Asset Turnover 0.00x

Equity Mult. 1.37x

TTM · Applied to: EPS, ROE, ROA, Net Margin, Asset Turnover, Debt/Equity

What Is Changing

On a TTM 2026Q1 basis, VRC posted a very sharp profit drop versus the same period, showing that pressure has clearly fed through to the bottom line — profit momentum has been slowing across consecutive periods. The key watch now is how long the business needs to stabilize its profit base.

	                            
	                                TTM REVENUE
	                            
	                                    VND 8bn
	                                
−11.0%YoY

	                            
	                                NET MARGIN
	                            
	                                    14.32%
	                                
−106.3ppYoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 1bn
	                                
−89.4%YoY

Metric	2025	2024	2023	2022	2021
Revenue	7.1	15.1	3.9	3.6	3.8
Growth	-53%	+286%	+7%	-3%	—
Net Income	1.2	1.8	0.4	16.7	0.7
Net Margin	16.65%	11.70%	10.29%	458.10%	18.81%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	1.0	2.4	1.0	3.2	0.5	1.1	1.0	6.0	7.0	1.0	1.0	1.0
Growth	-56%	+126%	-67%	+552%	-54%	+5%	-83%	-15%	+578%	+1%	+1%	—
Net Income	0.1	0.6	0.0	0.4	9.7	0.4	0.1	0.2	1.1	0.1	0.1	0.1
Net Margin	5.21%	25.01%	2.62%	13.21%	1975.09%	39.09%	8.94%	2.94%	15.08%	7.01%	11.33%	11.35%

Drivers of VRC's profit

TTM

Net profit attributable to parent declined vs last year, mainly due to the main negative driver. Supporting and offsetting drivers:

Finance costs ↓ 2.7bn

Tax ↓ 2.2bn

TTM

Net profit attributable to parent declined vs prior quarter, mainly due to the main negative driver. Supporting and offsetting drivers:

Tax ↓ 2.7bn

Finance costs ↓ 1.6bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 0.8% = 120.6% × 0.00 × 1.37

2026Q1 0.1% = 14.3% × 0.00 × 1.37

ROE fell from 0.8% to 0.1% — net margin weakened the most, though leverage still provided support.

Net margin: 14.3% -106.3pp Asset turnover: 0.00x -0.00x Leverage: 1.37x +0.00x

Is the profit sustainable?

Margins narrowed but earnings quality remains clean — pressure is mainly operational.

very positive positive stable watch under pressure

What is driving the margin?

Net margin fell to 14.32%, losing 106.3pp. The weakness is mainly from non-core drags (Net financial result / Revenue rose 28.1pp, Gross margin rose 2.0pp, and SG&A / Revenue fell 0.4pp still provides some support).

The pressure comes from core operations — this is a concerning type of decline, not a one-off movement.

Profitability trend

Net Margin 14.32% −106.3pp

Gross Margin 84.49% +2.0pp

SG&A / Revenue 39.97% −0.4pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital efficiency for residential developers should be read alongside project cycles and handover timing — ROIC of 0.1% fluctuates with handover cycles.

Is capital being deployed efficiently?

ROIC stands at 0.07%, broadly flat versus the same period. That translates to 0.07 in after-tax operating profit for every 100 units of operating capital. NOPAT margin rose 26.8pp, but capital turnover broadly stable, with invested capital holding roughly steady — the two factors are offsetting each other, keeping overall ROIC nearly unchanged.

For real estate developers, ROIC moves with project cycles — this is a reference signal, and the real assessment needs upcoming handover periods.

CAPITAL EFFICIENCY TREND

ROIC 0.07% +0.1pp

NOPAT Margin 15.46% +26.8pp

Capital Turnover 0.00x −0.00x

Average Invested Capital 1,595.2bn +19.5bn

Balance Sheet

ROIC for residential developers swings with project cycles and handover timing — the balance sheet below adds perspective. Capital structure is notably light for the real estate sector — liabilities at 0.37x equity, net debt at 0.25x equity.

Development inventory ended the period at 1,199.1bn, about 68.7% of total assets — reflecting projects in progress awaiting handover.

Over the last 12 months, working capital released 13.2bn of cash, mainly thanks to lower receivables and lower inventories.

Working Capital Drivers

Receivables decreased → higher CFO: +3.8bn

Inventories decreased → higher CFO: +5.7bn

Payables increased → higher CFO: +3.7bn

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 0.25x and interest coverage only at 0.52x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 3.0% of debt, and total debt stands at 333.0bn.

Leverage for residential developers should be read alongside project cycles, development inventory, and handover timing.

Watchpoints

Interest coverage is thin

Interest coverage is 0.52x, leaving limited room to absorb financing costs.

Short-term refinancing pressure is meaningful

Short-term debt accounts for 100.0% of total debt, raising near-term refinancing needs.

Leverage and liquidity trend

Net Debt / Equity 0.25x −0.00x

Interest Coverage 0.52x +0.76x

Cash / Debt 3.0% −0.3pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI 0.33x +2.61x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -5.4bn in 2025, against investing cash flow of -0.6bn.

Post-investment cash flow was negative +6.0bn. Financing cash flow was positive +4.6bn.

CFO / net income was 0.33x.

Track how much investment can be funded internally from operating cash flow.

For residential developers, FCF and CFO swing with project cycles — negative during investment phases and positive at handover — not representative of single-year efficiency.

Cash Conversion

CFO TTM 0.2bn +24.4bn

Cash Capex — —

FCF TTM — —

Investment Takeaway

The business is under real pressure, but the current picture has not turned broadly adverse. A notable area has clearly weakened, making the near-term outlook hard to call bright; even so, other parts of the business are still holding up, with margins remain under pressure remaining the main constraint, with net margin down 106.3 pp. The next watchpoint is effective tax rate looks unusual, with effective tax rate at 3.3%.

Watchpoint: the effective tax rate looks unusual, so current net profit may not fully reflect underlying earnings quality.

Key risk: profitability remains under pressure, with trailing-12M net margin at 14.32% after a 106.3pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	7.1	15.1	3.9	3.6	3.8
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	7.1	15.1	3.9	3.6	3.8
Cost of Goods Sold	1.2	3.2	0.2	0.2	0.0
Gross Profit	5.9	11.9	3.7	3.5	3.6
Financial Income	0.3	0.1	0.2	4.7	0.0
Financial Expenses	1.0	6.5	0.0	3.5	-0.0
Interest Expense	1.0	6.5	0.0	0.0	-0.0
Share of Associates and Joint Ventures	-0.0	-0.0	-0.0	-0.0	-0.1
Selling Expenses	—	0.0	0.0	0.0	-0.0
General and Administrative Expenses	3.1	3.6	3.3	4.0	-2.5
Operating Profit	2.0	1.8	0.6	0.6	1.1
Other Income	0.6	0.5	0.3	20.3	0.0
Other Expenses	0.8	0.0	0.2	2.0	0.0
Other Profit	-0.2	0.5	0.0	18.2	-0.3
Profit Before Tax	1.8	2.3	0.7	18.8	0.8
Current Income Tax Expense	1.1	1.8	0.7	2.6	-0.1
Deferred Income Tax Expense	-0.5	-1.2	-0.5	-0.4	0.0
Net Income	1.2	1.8	0.4	16.7	0.7
Non-controlling Interest	0.6	0.8	0.2	-0.2	0.3
Profit Attributable to Parent	0.6	1.0	0.2	16.9	0.4
Earnings per Share	12.00	20.00	4.00	338.00	7.00
Diluted EPS	12.00	20.00	4.00	338.00	7.88

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,256.8	1,250.5	1,231.4	1,114.7	1,389.4
I. Cash and cash equivalents	10.5	11.9	9.8	12.1	10.3
1. Cash	10.5	11.9	9.8	12.1	0.0
2. Cash equivalents	—	0.0	0.0	0.0	0.0
II. Short-term financial investments	—	0.0	0.0	0.0	0.0
1. Available for sale securities	—	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
3. Held to maturity investments	—	0.0	0.0	0.0	0.0
III. Short-term receivables	32.6	37.6	29.4	25.7	139.0
1. Short-term trade accounts receivable	33.3	39.4	32.2	28.6	0.0
2. Short-term prepayments to suppliers	1.7	1.7	1.7	1.7	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	1.6	1.0	0.0	0.0	0.0
6. Other short-term receivables	4.7	4.3	4.3	4.2	0.0
7. Provision for short-term doubtful debts (*)	-8.8	-8.8	-8.8	-8.8	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	1,199.1	1,185.9	1,175.9	1,060.4	1,223.3
1. Inventories	1,199.1	1,185.9	1,175.9	1,060.4	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	14.7	15.1	16.3	16.5	16.7
1. Short-term prepayments	0.0	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	14.7	15.1	16.3	16.5	0.0
3. Taxes and other receivables from state authorities	—	0.0	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	489.1	489.0	487.7	487.7	468.6
I. Long-term receivables	—	0.1	0.0	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	0.1	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	—	0.1	0.4	0.9	2.0
1. Tangible fixed assets	—	0.0	0.2	0.5	0.9
- Cost	1.4	1.4	2.2	2.2	0.0
- Accumulated depreciation	-1.4	-1.4	-2.0	-1.7	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	0.1	0.2	0.4	1.1
- Cost	1.1	1.1	1.1	1.1	0.0
- Accumulated depreciation	-1.1	-1.0	-0.8	-0.7	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	0.0	0.0	0.0	0.5
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	—	0.0	0.0	0.0	0.0
V. Long-term financial investments	482.9	482.9	483.0	483.0	462.7
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	482.9	482.9	483.0	483.0	0.0
3. Investments in other entities	—	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
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	6.2	5.8	4.4	3.9	0.0
1. Long-term prepayments	0.1	0.2	0.0	0.0	0.0
2. Deferred income tax assets	6.1	5.6	4.4	3.9	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	3.5
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,745.9	1,739.5	1,719.2	1,602.4	1,858.0
A. LIABILITIES (300=210+330)	472.4	477.9	459.4	343.0	596.0
I. Short -term liabilities	472.3	377.9	359.3	243.0	67.6
1. Short-term trade accounts payable	0.1	0.7	0.8	0.7	0.7
2. Short-term advances from customers	1.7	1.9	1.9	1.9	1.6
3. Taxes and other payables to state authorities	4.4	3.1	1.0	2.5	0.0
4. Payable to employees	—	0.2	0.5	1.0	0.0
5. Short-term acrrued expenses	4.6	21.6	24.9	27.1	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	13.3	10.7	8.2	5.8	3.7
9. Other short-term payables	112.6	9.2	2.8	2.7	0.0
10. Short-term borrowings and financial leases	333.0	327.7	316.3	198.3	43.7
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	2.8	2.9	3.0	3.1	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.0	100.0	100.0	100.0	528.4
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.0	100.0	100.0	100.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	428.4
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,273.5	1,261.6	1,259.8	1,259.4	1,262.0
I. Owner's equity	1,273.5	1,261.6	1,259.8	1,259.4	0.0
1. Owner's capital	500.0	500.0	500.0	500.0	1,262.0
- Common stock with voting right	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	47.5	47.5	47.5	47.5	47.5
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	14.4	14.4	14.4	14.4	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	0.5	0.5	0.5	0.5	0.0
11. Undistributed earnings after tax	421.5	409.7	408.7	408.5	411.0
- Accumulated retained earning at the end of the previous period	420.9	408.7	408.5	391.6	410.7
- Undistributed earnings in this period	0.6	1.0	0.2	16.9	0.3
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	289.6	289.5	288.7	288.5	288.7
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,745.9	1,739.5	1,719.2	1,602.4	1,858.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	1.8	2.3	0.7	18.8	0.5
Depreciation of Fixed Assets and Investment Property	0.1	0.1	0.1	0.3	0.4
Provision (Increase)/Reversal	—	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.0	-0.2	-0.0	-24.9	0.0
Interest Expense	1.0	6.5	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	2.8	8.8	0.8	-5.7	0.9
Increase/(Decrease) in Receivables	6.3	-8.1	-3.5	114.4	0.0
Increase/(Decrease) in Inventory	-10.5	-9.9	-116.8	158.5	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-1.5	1.0	1.5	4.7	0.0
Increase/(Decrease) in Prepaid Expenses	0.1	-0.2	0.0	0.0	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-2.5	0.0	-2.0	0.0	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-0.1	-0.1	-0.2	-0.4	0.0
Net Cash Flow from Operating Activities	-5.4	-8.5	-120.2	271.4	-173.3
Payments for Fixed Assets and Other Long-term Assets	—	0.0	0.0	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.2	0.0	21.3	0.0
Loans and Purchases of Debt Instruments	-0.6	-1.0	0.0	-180.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	0.0	180.0	0.0
Investments in Other Entities	—	0.0	0.0	-20.3	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.0	0.0	0.0	4.7	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-0.6	-0.8	0.0	5.7	0.0
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	8.1	123.1	207.9	46.7	476.2
Repayment of Borrowings	-3.5	-111.7	-90.0	-321.9	-305.1
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	—	0.0	0.0	0.0	0.0
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	4.6	11.3	117.9	-275.2	171.1
Net Cash Flow During the Period	-1.4	2.0	-2.3	1.8	-2.5
Cash and Cash Equivalents at Beginning of Period	11.9	9.8	12.1	10.3	12.5
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	10.5	11.9	9.8	12.1	10.3

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	1.0	2.4	1.0	3.2	0.5	1.1	1.0	6.0	7.0	1.0	1.0	1.0
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	1.0	2.4	1.0	3.2	0.5	1.1	1.0	6.0	7.0	1.0	1.0	1.0
Cost of Goods Sold	0.1	0.7	0.1	0.3	0.0	0.1	0.1	1.3	1.7	0.1	0.1	0.0
Gross Profit	1.0	1.6	1.0	2.9	0.5	1.0	0.9	4.7	5.3	1.0	1.0	1.0
Financial Income	0.0	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.2	0.0	0.0
Financial Expenses	0.2	0.2	0.2	1.7	1.7	-0.4	0.1	3.7	3.2	0.0	0.0	0.0
Interest Expense	0.2	0.2	0.2	—	1.7	-0.4	0.1	3.7	3.2	0.0	0.0	0.0
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
Selling Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	0.6	0.7	0.7	0.9	0.8	1.2	0.7	0.7	0.8	1.0	0.8	0.8
Operating Profit	0.2	0.7	0.1	0.2	-2.0	0.4	0.1	0.3	1.4	0.1	0.2	0.2
Other Income	—	0.6	—	—	14.7	0.2	0.0	0.0	0.0	0.0	0.0	0.3
Other Expenses	0.1	0.6	—	—	0.2	0.0	0.0	0.0	0.0	0.0	0.0	0.2
Other Profit	-0.1	-0.0	—	—	14.5	0.2	-0.0	-0.0	-0.0	0.0	0.0	0.1
Profit Before Tax	0.1	0.7	0.1	0.2	12.4	0.5	0.1	0.3	1.4	0.1	0.2	0.2
Current Income Tax Expense	0.2	0.2	0.2	0.6	2.9	0.1	0.2	0.2	0.4	0.2	0.2	0.2
Deferred Income Tax Expense	-0.1	-0.1	-0.1	-0.8	-0.1	-0.0	-0.1	-0.1	-0.1	-0.1	-0.1	-0.1
Net Income	0.1	0.6	0.0	0.4	9.7	0.4	0.1	0.2	1.1	0.1	0.1	0.1
Non-controlling Interest	0.0	0.2	-0.0	0.1	-0.6	0.2	0.0	0.1	0.5	0.1	0.0	0.1
Profit Attributable to Parent	0.1	0.3	0.0	0.3	10.3	0.2	0.0	0.1	0.6	0.0	0.1	0.0
Earnings per Share	1.00	7.00	1.00	6.00	205.00	4.00	1.00	2.00	11.00	0.15	2.00	2.00
Diluted EPS	1.00	7.00	1.00	6.00	205.00	15.00	1.00	2.00	11.00	0.15	2.00	2.00

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,256.4	1,256.7	1,257.1	1,259.8	1,261.0	1,250.7	1,242.0	1,238.2	1,234.7	1,231.4	1,225.4	1,218.1
I. Cash and cash equivalents	10.0	10.5	10.3	10.0	10.9	11.9	10.0	10.1	9.9	9.8	10.6	10.2
1. Cash	10.0	10.5	10.3	10.0	10.9	11.9	10.0	10.1	9.9	9.8	10.1	10.2
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.5	0.0
II. Short-term financial investments	1.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Available for sale securities	—	—	—	—	—	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
3. Held to maturity investments	1.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Short-term receivables	30.5	32.4	32.7	34.4	35.3	37.8	34.8	33.5	31.7	29.4	27.6	26.2
1. Short-term trade accounts receivable	32.8	33.3	33.6	35.3	36.3	39.4	37.6	36.4	34.6	32.2	30.5	29.1
2. Short-term prepayments to suppliers	1.7	1.7	1.7	1.8	1.8	1.7	1.7	1.7	1.7	1.7	1.7	1.7
3. Short-term inter-company receivables	—	—	—	—	—	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
5. Short-term loan receivables	—	1.6	1.6	1.6	1.6	1.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	4.8	4.6	4.6	4.5	4.4	4.4	4.2	4.2	4.2	4.3	4.2	4.2
7. Provision for short-term doubtful debts (*)	-8.8	-8.8	-8.8	-8.8	-8.8	-8.8	-8.8	-8.8	-8.8	-8.8	-8.8	-8.8
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	1,199.7	1,199.1	1,199.2	1,200.4	1,199.8	1,185.9	1,182.0	1,179.4	1,177.9	1,175.9	1,170.8	1,165.2
1. Inventories	1,199.7	1,199.1	1,199.2	1,200.4	1,199.8	1,185.9	1,182.0	1,179.4	1,177.9	1,175.9	1,170.8	1,165.2
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	14.6	14.7	14.9	15.0	15.1	15.1	15.3	15.2	15.2	16.3	16.4	16.5
1. Short-term prepayments	0.0	0.0	0.1	0.1	0.0	0.0	0.2	0.0	0.0	0.0	0.1	0.1
2. Value added tax to be reclaimed	14.6	14.6	14.8	14.9	15.0	15.1	15.1	15.1	15.2	16.3	16.3	16.4
3. Taxes and other receivables from state authorities	—	—	—	—	—	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
5. Other short-term assets	—	—	—	—	—	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)	489.2	489.2	489.1	489.7	489.0	488.8	488.7	487.3	487.3	487.7	487.7	487.7
I. Long-term receivables	—	0.1	0.1	0.1	0.1	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
2. Long-term prepayments to suppliers	—	—	—	—	—	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
4. Long-term inter-company receivables	—	—	—	—	—	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
6. Other long-term receivables	—	0.1	0.1	0.1	0.1	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
II. Fixed assets	—	—	0.0	0.1	0.1	0.1	0.1	0.2	0.3	0.4	0.5	0.6
1. Tangible fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.1	0.2	0.2	0.3
- Cost	1.4	—	—	—	—	2.2	2.2	2.2	2.2	2.2	2.2	2.2
- Accumulated depreciation	-1.4	—	—	—	—	-2.2	-2.2	-2.2	-2.1	-2.0	-1.9	-1.9
2. Financial leased fixed assets	—	—	—	—	—	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
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	—	0.0	0.1	0.1	0.1	0.1	0.2	0.2	0.2	0.3	0.3
- Cost	1.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-1.1	—	—	—	—	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
- Cost	—	—	—	—	—	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
IV. Long-term assets in progress	482.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	482.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Long-term financial investments	—	482.9	482.9	482.9	483.0	482.9	482.9	482.9	483.0	483.0	483.0	483.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	482.9	482.9	482.9	483.0	482.9	482.9	482.9	483.0	483.0	483.0	483.0
3. Investments in other entities	—	—	—	—	—	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
5. Held to maturity investments	—	—	—	—	—	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
VI. Other long-term assets	6.3	6.2	6.1	6.6	5.8	5.8	5.6	4.1	4.0	4.4	4.2	4.1
1. Long-term prepayments	0.1	0.1	0.1	0.2	0.2	0.2	0.0	0.0	0.0	0.0	0.0	0.0
2. Deferred income tax assets	6.2	6.1	6.0	6.4	5.7	5.6	5.6	4.1	4.0	4.4	4.2	4.1
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	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
5. Goodwill	—	—	—	—	—	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
TOTAL ASSETS (280=100+200)	1,745.6	1,745.9	1,746.2	1,749.5	1,750.1	1,739.5	1,730.7	1,725.4	1,721.9	1,719.2	1,713.1	1,705.8
A. LIABILITIES (300=210+330)	472.0	472.2	473.1	477.8	478.8	478.2	469.8	464.4	461.1	459.4	453.4	446.2
I. Short -term liabilities	472.0	372.2	373.1	377.8	378.8	378.2	369.7	364.4	361.1	359.3	353.4	346.2
1. Short-term trade accounts payable	0.2	0.1	0.7	0.7	5.3	0.7	1.0	0.7	0.7	0.8	0.7	0.7
2. Short-term advances from customers	1.7	1.7	1.9	1.9	1.9	1.9	1.9	1.9	6.9	1.9	1.9	2.3
3. Taxes and other payables to state authorities	3.7	4.2	3.9	5.7	6.3	3.1	2.9	1.9	1.6	1.0	0.7	0.4
4. Payable to employees	0.2	—	—	—	—	0.2	0.3	0.0	0.0	0.5	0.0	0.0
5. Short-term acrrued expenses	4.5	4.6	5.1	5.2	6.7	21.9	26.2	23.9	28.1	24.9	31.2	26.4
6. Short-term inter-company payables	—	—	—	—	—	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
8. Short-term unearned revenue	13.9	13.3	12.7	12.0	11.0	10.6	10.0	8.9	8.3	8.2	7.5	6.9
9. Other short-term payables	112.4	10.7	9.9	13.3	11.3	9.2	11.2	11.1	7.4	2.8	2.7	2.7
10. Short-term borrowings and financial leases	333.0	335.0	336.1	336.1	333.4	327.7	314.9	314.5	306.6	316.3	305.6	303.6
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	2.5	2.8	2.9	2.9	2.9	2.9	1.4	1.4	1.5	3.0	3.1	3.1
13. Price stabilization fund	—	—	—	—	—	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
II. Long-term liabilities	0.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
1. Long-term trade payables	—	—	—	—	—	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
3. Long-term acrrued expenses	—	—	—	—	—	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
5. Long-term inter-company payables	—	—	—	—	—	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
7. Other long-term liabilities	0.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	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
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,273.6	1,273.7	1,273.1	1,271.6	1,271.2	1,261.3	1,260.9	1,261.0	1,260.9	1,259.8	1,259.7	1,259.6
I. Owner's equity	1,273.6	1,273.7	1,273.1	1,271.6	1,271.2	1,261.3	1,260.9	1,261.0	1,260.9	1,259.8	1,259.7	1,259.6
1. Owner's capital	500.0	500.0	500.0	500.0	500.0	500.0	500.0	500.0	500.0	500.0	500.0	500.0
- Common stock with voting right	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00	500,000,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	47.5	47.5	47.5	47.5	47.5	47.5	47.5	47.5	47.5	47.5	47.5	47.5
3. Convertible bond option	—	—	—	—	—	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
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	14.4	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	14.4	—	14.4	14.4	14.4	14.4	14.4	14.4	14.4	14.4	14.4	14.4
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5
11. Undistributed earnings after tax	421.6	421.7	421.3	420.3	420.0	409.5	409.3	409.4	409.3	408.7	408.7	408.7
- Accumulated retained earning at the end of the previous period	421.5	420.9	420.9	409.7	409.7	408.7	408.7	408.7	408.7	408.5	408.5	408.5
- Undistributed earnings in this period	0.1	0.7	0.4	10.6	10.3	0.7	0.6	0.7	0.6	0.2	0.2	0.1
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	289.6	289.6	289.4	289.0	288.8	289.5	289.2	289.3	289.2	288.7	288.6	288.6
14. Financial reserves	—	—	—	—	—	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
1. Subsidized not-for-profit funds	—	—	—	—	—	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
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,745.6	1,745.9	1,746.2	1,749.5	1,750.0	1,739.5	1,730.7	1,725.4	1,721.9	1,719.2	1,713.1	1,705.8

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	0.1	0.7	0.0	-11.4	12.4	0.5	0.1	0.0	1.4	0.1	0.2	0.2
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
Provision (Increase)/Reversal	—	—	—	—	—	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
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	—	0.5	—	0.5	—	0.0	-6.9	6.9	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
Interest Income and Dividends	—	—	—	—	—	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
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	0.1	1.6	-0.4	-10.9	12.5	0.6	-6.7	6.9	1.4	0.2	0.2	0.2
Increase/(Decrease) in Receivables	0.5	0.5	1.0	1.7	3.0	-2.0	0.7	-4.2	-0.7	-1.8	-1.4	1.3
Increase/(Decrease) in Inventory	-0.6	2.8	-3.2	6.7	-16.8	-8.1	-0.4	-5.5	1.2	-11.5	-0.6	-10.5
Increase/(Decrease) in Payables (Excl. Interest and CIT)	0.4	-0.9	2.3	1.9	-4.8	-0.3	6.1	-6.3	9.3	1.6	0.2	0.2
Increase/(Decrease) in Prepaid Expenses	0.0	0.1	0.1	-0.0	-0.0	-0.0	-0.2	-0.0	0.0	0.0	0.0	-0.1
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	2.5	-2.5	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-0.7	-1.8	—	-0.7	—	0.0	0.0	0.0	0.0	0.0	0.0	-2.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.3	-0.1	-0.0	—	—	-0.0	0.0	1.5	-1.5	-0.1	-0.1	0.0
Net Cash Flow from Operating Activities	-0.5	4.1	-2.4	-0.9	-6.1	-9.9	-0.5	-7.6	9.7	-11.5	-1.5	-10.8
Payments for Fixed Assets and Other Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	0.0	0.0	0.0	-0.6	-1.0	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
Investments in Other Entities	—	—	—	—	—	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
Dividends and Interest Income Received	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 Term Deposits	—	—	—	—	—	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
Other Investing Receipts	—	—	—	—	—	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
Net Cash Flow from Investing Activities	0.0	-0.0	0.0	0.0	-0.6	-1.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	-4.4	4.4	0.0	8.1	60.7	0.5	60.7	1.1	60.8	2.0	51.1
Repayment of Borrowings	—	0.6	-1.7	0.0	-2.4	-47.9	-0.1	-52.9	-10.8	-50.0	0.0	-40.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Receipts	—	—	—	—	—	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
Net Cash Flow from Financing Activities	—	-3.9	2.7	0.0	5.7	12.8	0.4	7.8	-9.7	10.8	2.0	11.1
Net Cash Flow During the Period	-0.5	0.2	0.3	-0.9	-1.0	1.9	-0.1	0.2	0.0	-0.8	0.4	0.3
Cash and Cash Equivalents at Beginning of Period	10.5	10.3	10.0	10.9	11.9	9.8	9.8	9.8	9.8	12.1	12.1	12.1
FX Difference from Revaluation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	10.0	10.5	10.3	10.0	10.9	11.9	10.0	10.1	9.9	9.8	10.6	10.2

Explore Other Stocks In The Same Sector

VHM, KDH, NLG, HDC, PDR, VPI, AGG, SJS, NDN, CRV, HPX, TDH, HQC, RGG, CCL, NTL, CNT, API, HD2, NBB, UDJ, HD8, DTA, FIR, SLD, PXA, TTB, MBT, VNI, PPI, HTT, VPH, STL

Need support? If you need support with content lookup or want to provide feedback about content on the website, please contact us below.

VRC