July 14, 2016 VHC guidance suggests strong 1-H given export performance. HSC revised up net profit forecast by 19.5%. Reiterate Outperform. 1-H exports rose 12.5%. On volumes growth of 18.5% as ASP declined
May 30, 2016 Remained high operating efficiency in 1Q2016 Total output was slightly up to 1.33 bn kWh. The average selling price was down by c. 23.4% yoy caused by new natural gas price mechanism. Consequently, revenue shrunk 21% yoy.