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Hoa Phat Agricultural Joint Stock Company (HPA), in which Hoa Phat Group holds 94.999% of charter capital, held its ordinary general meeting on April 21, 2026. The company said it remains a leading supplier in Australia’s beef market, leads the clean chicken market in northern Vietnam, and ranks among the top 10 in pig breeding and top 13 in feed production in the country.
In 2025, HPA reported revenue of VND 8,326 billion, up 18% year-on-year, and said the figure surpassed its annual target by 4%. After-tax profit reached VND 1,600 billion, up 55% year-on-year and exceeding the plan by 22%.
The company cited pig breeding as the main growth driver, contributing 41% of revenue and 67% of after-tax profit.
HPA said livestock operations recovered during the year. Cattle farming profitability rose 899% year-on-year and accounted for 4% of total profit. Poultry farming profits increased 59-fold, contributing 9% of revenue and 6% of after-tax profit.
For 2026, HPA set a revenue target of VND 7,200 billion and after-tax profit of VND 1,005 billion, representing declines of 11% and 37%, respectively, compared with the previous year.
Management pointed to several challenges, including (1) conflict in the Middle East; (2) disease and natural disasters; (3) regional border tensions; and (4) expectations of higher interest rates.
Despite the cautious outlook, HPA said 2026 could be a milestone for the sustainable transformation of Vietnam’s livestock sector. It stated that antibiotics are no longer used for disease prevention and growth promotion, and that HPA pioneered this approach and expects not to be affected by the change.
In the first quarter of 2026, HPA posted revenue of over VND 1,813 billion and after-tax profit of VND 345 billion, reaching 34.3% of the annual profit plan.
The board proposed paying the remaining 2025 dividend of 21% in cash. HPA previously advanced 35.464% for 2025. For 2026, the company proposed a cash dividend of 36%, comprising 21% for 2025 and an expected 15% advance for 2026.
From 2026 to 2030, HPA aims to increase the total sow herd to more than 30,000 and target annual production of 900,000 market pigs, with about VND 1,000 billion in investment.
The company also plans to build its third feed mill with capacity of 300,000 tons per year, scheduled to begin construction in 2029 with about VND 500 billion. HPA said this would bring total feed system capacity to 1 million tons per year.
For cattle, HPA set an Australian herd target of 73,000 head. By 2030, it targets revenue above VND 12,000 billion, after-tax profit around VND 1,750 billion, and ROE above 20%.
At the meeting, Ms. Pham Thi Hong Van, CEO of HPA, said: “In 2025 the livestock industry faced disease and disasters, but HPA maintained stable production and expanded investment. The key is maintaining herd size even when the whole industry is affected; that is why HPA, with a relatively modest herd size, delivered output and profitability that outperformed peers.”
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