Trần Vũ Minh, son of Hòa Phát chairman, unable to buy full 50 million HPG shares; purchases about 33.3 million, lifting ownership to 2.732% as stock falls toward the bottom

On April 13, 2026, Trần Vũ Minh submitted a report to the Ho Chi Minh Stock Exchange (HoSE) regarding his transaction in Hoa Phat (HPG) shares. Earlier, from March 12 to April 10, 2026, Minh registered to buy 50 million HPG shares through a combination of matched orders and negotiated deals.

By the end of the registration period, Minh purchased nearly 33.3 million shares, increasing his ownership in Hoa Phat from 2.298% (about 176.3 million shares) to 2.732% (about 209.6 million shares). Minh bought around 67% of the registered volume. The stated reason for not completing the full transaction was unfavorable market conditions.

Share purchase details and transaction value

During Minh’s registration period, HPG shares fell to around 25,000 đồng per share, which was cited as the previous low in March 2026. Based on market prices at the time, Minh’s expenditure was roughly over 860 billion đồng.

Related ownership and major shareholder bloc

Trần Vũ Minh, born in 1996, is described as a relatively private member of the family of Trần Đình Long. Although he is the son of Hoa Phat’s chairman, he does not directly participate in the group’s management. He serves as director of Dai Phong Trading and Investment Co., Ltd., established in 2016, operating in financial services, management consulting, and trade promotion.

In addition to Minh’s personal stake, Dai Phong holds about 3.6 million HPG shares, equivalent to about 0.05% of Hoa Phat’s charter capital. Currently, Mr. Long holds the largest individual stake with 1.98 billion shares, or about 25.796% of charter capital. Mrs. Vu Thi Hien, Long’s wife, owns 528 million shares, or about 6.879% of the company.

In total, the group related to Trần Đình Long holds roughly 2.7 billion HPG shares, representing more than 35% of Hoa Phat’s charter capital. At current prices, this stake is valued at about 75,000 billion đồng.

2026 targets ahead of annual general meeting

The share purchase by the chairman’s son comes as the group prepares for its 2026 annual general meeting on April 21 in Hanoi. Meeting documents show Hoa Phat targets 2026 revenue of 210,000 billion đồng and after-tax profit of 22,000 billion đồng, up 33% and 42% respectively from 2025. If achieved, this would be the second-highest profit in Hoa Phat’s history, behind the record over 34,500 billion đồng in 2021.

Hoa Phat also plans to distribute 2025 dividends totaling 15%, comprising 10% in shares and 5% in cash. With the stock dividend, the group expects to issue more than 767 million new shares. The cash dividend is set at 500 đồng per share, with the payment timing to be decided by the Board.

Sector outlook and brokerage estimates

VCBS published a forecast note for Q1 and the full year 2026, highlighting developments in the steel sector. It noted that Q1 2026 saw continued price increases: construction steel rose about 4.5% year-on-year, while galvanized steel and steel pipes rose about 3%.

VCBS also pointed to risks for the steel industry tied to tensions in the Middle East, a major export market for China’s hot-rolled coil (HRC). As conflicts escalate, shipping costs are expected to rise, potentially increasing production costs. The brokerage added that China’s steel market share could shrink and shift to alternative suppliers such as Turkey and India. It also warned that potential Chinese HRC oversupply could spill into competing markets, including Vietnam, affecting domestic production and consumption.

VCBS estimates Hoa Phat’s Q1 revenue at 43,612 billion đồng, up 15.9% year-on-year, while after-tax profit is expected to decline about 2.6% to around 3,257 billion đồng.