Hoa Sen Group Chairman Le Phuoc Vu donates cash at charity drive as the company focuses on social housing and retail expansion

Although Hoa Sen Group chairman Le Phuoc Vu has made remarks that have drawn mixed reactions in the market, the group’s long-standing sponsorship of the “Vietnamese Family Housing” program and the charitable activities funded by Hoa Sen cannot be overlooked. In videos related to the program, Mr. Vu is shown directly participating in donations, including emptying money from his wallet into the donation box on the spot.

Background and strategic direction

Hoa Sen Group has been built into a large building materials business in Vietnam. After a period of stepping back, Mr. Vu announced his return to lead the group amid recent market volatility. Among the company’s stated ambitions is the plan to develop a “Hoa Sen Home” mega retail chain, described as a key push before stepping back from the group.

Mr. Vu has also been associated with provocative public comments, including remarks about the Ca Na steel project and views on the steel industry and banking. Despite the controversy surrounding some statements, Hoa Sen’s market position and the scale of its philanthropic programs remain central to its public profile.

Shareholder approval and capital allocation

At the 2025–2026 fiscal year annual general meeting held in March, Hoa Sen’s shareholders approved abandoning the treasury stock buyback plan. The decision was made to devote all capital to development investments.

Housing development plan and real estate expansion

Hoa Sen plans to participate in developing at least 20,000 social housing units for workers in Ho Chi Minh City during 2026–2030. The move signals a return to large-scale real estate activities, leveraging the company’s building materials ecosystem.

Hoa Sen Home capital increase and retail footprint needs

Hoa Sen Home, a subsidiary 99% owned by Hoa Sen, received approval to increase its charter capital from 1,000 billion dong to 3,000 billion dong. The retail network is currently expanding nationwide and is reported to require 300 to 500 long-term premises.

Financial scenarios for 2025–2026

For the 2025–2026 financial year, Hoa Sen prepared two sales-volume scenarios ranging from 1.75 million to 1.85 million tonnes. In the optimistic scenario, net revenue is expected to reach 37,000 billion dong, with after-tax profit targeted at 600 billion dong.

Dividend issuance and charter capital increase

On May 5, 2026, Hoa Sen finalized the shareholder list to issue nearly 186.3 million shares as a 30% dividend. This issuance is expected to raise the company’s charter capital from 6,209 billion dong to over 8,072.7 billion dong.