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On April 21, 2026, Hoa Phat Group Joint Stock Company (ticker HPG) held its ordinary annual general meeting. At the meeting, Chairman Tran Dinh Long said that in Q1 2026, Hoa Phat’s revenue reached over 53,500 billion VND, up 40% year on year. Net profit after tax exceeded 9,056 billion VND, up 170% year on year. He added that core business profit was over 5,200 billion VND.
Chairman Tran Dinh Long said that, in addition to core business results, profit also included 3,800 billion VND from the transfer of the urban development project on Pho Noi Street in Hung Yen to another unit.
In the 2025 audited financial statements, among work-in-progress costs as of 31/12/2025, 1,747 billion VND relate to costs tied to the investment in building infrastructure for the Phan Khu A – Bac QL5 urban area in Pho Noi town, Hung Yen, undertaken by the Group.
In 2025, the Green Urban Development Project (a subsidiary) was approved by Hung Yen Province’s People’s Committee for the investor selection results for the Bac QL5 project under Decision 1618/QD-UBND dated 27/6/2025.
The Bac QL5 project area spans more than 262 hectares across the wards of Ban Yen Nhân, Nhân Hòa, Phan Đình Phùng (My Hao town) and Minh Hải commune (Van Lam district). The project’s product mix includes adjacent commercial housing, villa housing, condominiums, and social housing; as well as offices, commercial spaces, and other service facilities as approved.
The land for the project comprises agricultural land allocated to households and individuals, and public land managed by local authorities. Previously, provincial authorities approved Hoa Phat Construction and Development of Urban Areas as the investor. Hoa Phat advanced compensation and infrastructure development and was entrusted with managing the project’s infrastructure land.
The project duration is 50 years from the date of the investor selection decision.
Under the capital mobilization plan, at least 15% of total investment must be contributed within 132 months (11 years) from the date the land-use contract is signed. Debt and other lawful mobilized funds can be up to 85% of total investment, to be executed within 11 years from the land-use contract signing. Basic construction and operation are planned 11 years from the date the land-use contract is signed.
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