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On April 21, 2026, Hoà Phát Group Joint Stock Company (ticker: HPG) held its annual general meeting of shareholders. At the meeting, company leadership said the Hanoi–Quảng Ninh high-speed rail project is underway and is expected to be completed in 2028, while Hoà Phát is actively marketing related products.
Mr. Trần Đình Long said that about this time last week he was at the rail factory, and that all employees are working to deliver the first rail product by the second quarter of 2027.
He also described the rail factory’s production capacity and product mix. According to Long, the rail steel capacity is 200,000 tons, while 500,000 tons are for sections and angles—products he characterized as more traditional. He said that if rails cannot be sold, the company can still sell the steel output.
Long added that Hoà Phát has long built confidence in leadership succession, referencing the company’s internal continuity across generations. He said he is not working much directly now, and that the company’s next generation has been prepared to absorb and develop Hoà Phát’s leadership over several decades.
On business results, Long said production costs depend heavily on coal and ore. He stated that in this cycle, Q1 results were solid, and that Q2/Q3 results may be even better because coal and ore—the key inputs—are priced favorably.
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