KDH reported Q1 2022 net revenue of VND143bn (USD6.2mn; -83% YoY) and NPAT-MI of VND299bn (USD13.0mn; +46% YoY), which fulfilled 4% and 19% of our respective full-year forecasts. Net revenue declined 83% YoY in Q1 2022 as the company (1) completed handove