HSG announced weak FY2024 results with net revenue of VND39.3tn (USD1.6bn; +2% YoY; 104% of our FY2024F forecast) and NPAT-MI of VND510bn (USD20.4mn; +17x YoY; 65% of our FY2024F forecast). In Q4 FY2024, HSG reported net revenue of VND10.1tn (USD404.4mn;