SZC – Flat 2025G NPAT guidance; IP land sales face headwinds, though FDI appeal expected to remain intact – AGM Note

• 11 Apr 2025
• Company Research

- We attended SZC’s annual general meeting (AGM) on April 11, 2025. - Shareholders approved 2025G guidance for total income (including net revenue, financial income, and other income) of VND931bn (USD36mn; +2% YoY) and NPAT-MI of VND302bn (USD12mn; flat Y