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On the morning of May 8, 2026, representatives of the Pyn Elite Fund (Finland) visited Hoa Phat’s Dung Quất steel complex to inspect production and business activities. The delegation was welcomed by Ho Duc Tho, Deputy Director of the company, along with leaders and heads of specialized units of Hoa Phat Dung Quất Steel Joint Stock Company.
Mr. Petri Deryng, head of the Pyn Elite Fund, said the discussions covered many aspects of the complex’s operations, including current production status, product demand, sales activities, near-term development strategies, and challenges facing the steel industry. Company representatives also shared an overview of the production process, technology capacity, market expansion directions, and measures to improve efficiency in the context of a recovering steel market.
After the meeting, the delegation toured key facilities, including Blast Furnace No. 6 in the Ironmaking Plant, the HRC2 rolling line, and the port area. The team praised the scale of investment, modern technology, and the integrated production capability of the complex.
Earlier in March 2026, Pyn Elite Fund continued to increase its stake in HPG to 12.2% of its portfolio. It is estimated that the fund purchased about 46 million additional HPG shares, bringing total holdings to over 123 million shares with a value of about VND 3,300 billion.
The fund’s increased position was presented as evidence of confidence in Hoa Phat’s long-term development potential.
As of the end of April 2026, Pyn Elite Fund was among the largest foreign funds in the market, with assets under management of about EUR 905 million (more than VND 28,000 billion, approximately USD 1.06 billion). The fund’s four-month performance for 2026 was a decline of 2.58%.
According to the latest update, the fund believes the Vietnamese stock market remains somewhat irrational, with positive corporate results not fully reflected in stock price movements. Pyn Elite also maintained a favorable view of HPG shares.
The fund pointed to a public-infrastructure investment program exceeding VND 1 quadrillion in 2026 and major projects such as the North–South high-speed railway as potential drivers that could create growth headroom for the steel sector. Hoa Phat was described as a leading beneficiary due to its market leadership and expansion into steel products for the rail sector.
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