Ms. Doan Hoang Anh - daughter of Mr. Doan Nguyen Duc, Chairman of the Board of Directors of Hoang Anh Gia Lai, has just registered to buy 2 million HAG shares to increase her ownership ratio from 1.04% to 1.23%.
In a notice sent to the State Securities Commission and the Ho Chi Minh City Stock Exchange (HoSE), Ms. Doan Hoang Anh - daughter of the Chairman of the Board of Directors of Hoang Anh Gia Lai Joint Stock Company (stock code: HAG), announced that she will buy 2 million shares in the period from August 20 to September 18. Ms. Hoang Anh plans to carry out this transaction by order matching on the stock exchange for the purpose of increasing her ownership ratio.
Based on the current value of HAG at VND10,200/share, the estimated volume of shares purchased by Ms. Hoang Anh is worth more than VND20 billion. If successful, Mr. Duc's daughter will increase her personal ownership ratio at Hoang Anh Gia Lai from 1.04% (11 million shares) to 1.23% (13 million shares).
The transaction was made by Bau Duc's daughter in the context of HAG shares falling about 26% compared to the price range at the beginning of the year.
Previously, on January 19, 2024, Ms. Hoang Anh bought an additional 1 million HAG shares for VND13.7 billion. This transaction increased her ownership ratio from 1.08% to 1.19% of charter capital. On February 15, she sold 2 million HAG shares, thereby reducing her ownership to 0.97%. Next, on May 9, she registered to buy 2 million HAG shares for VND26.9 billion, thereby increasing her ownership ratio to 1.04% of charter capital.
Regarding business performance, Hoang Anh Gia Lai recorded net revenue in the second quarter of 2024 of VND 1,518 billion, up 4.8% over the same period last year. The company's main source of revenue comes from fruit trading with approximately VND 1,116 billion, double the same period. The rest comes from selling pigs, selling products, goods and providing services.
Gross profit for this period reached VND488 billion, 2.8 times higher than VND176 billion in the same period last year, equivalent to a gross profit margin of 32.1%. According to Mr. Nguyen Xuan Thang, General Director of Hoang Anh Gia Lai, this result came from the sharp increase in banana export activities.
After deducting all expenses, the company reported a profit after tax of nearly VND 281 billion, 3.4 times higher than the profit of VND 82 billion in the same period last year, thereby extending the streak of consecutive profits from the second quarter of 2021 to present.
In the first half of the year, Hoang Anh Gia Lai had a net revenue of VND 2,759 billion, down 12.3% year-on-year. Gross profit reached VND 986 billion, while in the same period it was only over VND 628 billion. Gross profit margin in the first half of the year reached 35.7%, a sharp increase compared to 20.2% in the first 6 months of 2023. After deducting expenses, the company reported a pre-tax profit of VND 486 billion and a post-tax profit of VND 507 billion, both up 31% year-on-year.
Hoang Anh Gia Lai plans to achieve revenue of VND7,750 billion this year, up 20.3% year-on-year, and expected after-tax profit of VND1,320 billion, down 25.9% compared to the actual performance in 2023. This means the company has completed 35.6% of its revenue target and 38.4% of its profit target after half a year.
In the plan, Hoang Anh Gia Lai expects fruit revenue to contribute 5,540 billion VND, accounting for 71% of total revenue. Banana-eating pigs are expected to contribute 1,550 billion VND, accounting for 20% of total revenue. Other products and goods contribute 660 billion VND, accounting for 9% of total revenue.
As of the end of the second quarter, the company had total consolidated assets of about VND21,560 billion, an increase of VND657 billion compared to the beginning of the period. Long-term liabilities accounted for more than VND13,232 billion in the company's asset structure. Liabilities also decreased significantly compared to the beginning of the period, from VND14,226 billion to VND13,127 billion. About VND9,097 billion of Hoang Anh Gia Lai's liabilities were short-term liabilities.
The company's equity currently stands at VND8,433 billion, an increase of more than VND1,756 billion compared to the beginning of the year. Accumulated losses are currently around VND904 billion, marking the first time it has dropped below VND1,000 billion in 5 years.
The company's shares are still under warning due to accumulated losses. Previously, the company said it would continue to implement financial restructuring measures to further reduce its outstanding debt to banks , reduce interest expenses and maintain stable cash flow for production and business activities in the context of many market difficulties.
Regarding the investment plan , the company will plant an additional 2,000 hectares of bananas to increase the total area to 9,000 hectares, plant an additional 500 hectares of durian to increase the total planting area to 2,000 hectares and does not mention the issue of expanding pig farming.
Hoang Anh Gia Lai's Board of Directors is confident that its business activities in the coming time will achieve many positive results, gradually reduce and eliminate accumulated losses, and overcome the causes leading to the situation where the stock was put on the warning list.
Source: https://baodautu.vn/con-gai-bau-duc-dang-ky-mua-2-trieu-co-phieu-hoang-anh-gia-lai-d222540.html
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