We provide an update on HTN following our August 26, 2019 report, Small construction contractor with ambitious plans. To recap, Hung Thinh Incons is a small construction contractor based in HCMC. The company recorded net revenue of VND1.1tn (USD45.6mn; +112% YoY) in Q1 2020, mainly thanks to revenue recognition from selling its Richmond City condo project located in Binh Thanh Distrct, HCMC.