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On April 21, 2026, Hoa Phat Group Joint Stock Company (HPG) held its annual general meeting. As a blue-chip stock in the VN30 basket, HPG attracted strong attention from both domestic and international investors. With nearly 300,000 shareholders, investors have described HPG as a “national” stock.
At the meeting, Mr. Tran Dinh Long, Chairman of Hoa Phat’s Board, said: “When I learned there are 300,000 shareholders, the largest in Vietnam’s stock market today, I was stunned. Of course, that creates pressure on everyone, but I’m also proud of the trust and confidence from investors across the country.”
Mr. Long reported that in Q1 2026, Hoa Phat’s revenue reached over 53.5 trillion VND, up about 40% year-on-year. Net profit after tax was over 9.06 trillion VND, up 170%.
He added that core business profit was over 5.2 trillion VND, while profit from the transfer of the urban zone in Pho Noi, Hung Yen to another unit was 3.8 trillion VND.
Regarding the River Boulevard scenic axis project, Mr. Long said: “This is a very large project with a 100-year vision. I’m proud and fortunate to be involved and to contribute a small part.” He also noted that the project’s location is unique and cannot be surpassed.
The company outlined a growth plan targeting a 42% increase in profit. In 2025, Hoa Phat recorded revenue of 158.332 trillion VND and after-tax profit of 15.515 trillion VND, up 13% and 29% respectively from 2024.
While revenue reached 93% of the plan, profit reached 103% of the plan.
For 2026, Hoa Phat targets revenue of 210.0 trillion VND and after-tax profit of 22.0 trillion VND, up 35% and 42% respectively from the prior year.
Hoa Phat said the revenue plan is supported by the steel segment, which typically accounts for more than 90% of revenue and over 80% of group profits. This performance is aided by the completion and product delivery of the Dung Quat 2 project from September 2025.
The Dung Quat 2 milestone is linked to a 6-million-ton hot-rolled steel (HRC), high-quality steel per year capacity, with total investment of 85,000 billion VND. It is expected to expand Hoa Phat’s crude steel capacity to 16 million tons per year by late 2026, roughly among the top 30 globally.
The company is also launching three projects in Dak Lak with total investment of 120,000 billion VND, including the Hoa Phat Phu Yen steelmaking and ironmaking complex with capacity of 6 million tons per year. Upon completion, Hoa Phat’s steel production capacity is expected to reach 22 million tons per year.
With contributions from Dung Quat 2, in 2025 the group’s steel sales volume exceeded 10 million tons, up 25% year-on-year. Hot-rolled coil (HRC) volume exceeded 5 million tons, up over 70%, the highest on record.
In parallel with Dung Quat 2, the Hoa Phat Long An steel pipe plant began operations in 2025. The plant covers 14.5 hectares, has capacity of 400,000 tons per year, and total investment of 2,500 billion VND.
Hoa Phat proposed cash dividends of 5% and stock dividends of 10% for 2025, which would lift charter capital to over 84.43 trillion VND. The company also proposed a 5% cash dividend. For 2026, the Board proposed a 15% dividend.
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