NKG announced weak 9M 2024 results with net revenue of VND16.1tn (USD645.6mn; +14% YoY; 81% of our 2024F forecast) and NPAT-MI of VND435bn (USD17.4mn; +3x YoY; 65% of our 2024F forecast). In Q3 2024, NKG reported net revenue of VND5.2tn (USD207.5mn; -8% Q