Two profit plans of Hoa Sen Group (HSG)

HSG's Annual General Meeting of Shareholders for the 2024-2025 financial year.

On March 18, 2025, Hoa Sen Group Joint Stock Company (HOSE: HSG) held the Annual General Meeting of Shareholders for the 2024-2025 financial year.

Through reports at the conference, the Board of Directors and the Board of Management presented in detail to the General Meeting of Shareholders the operating results of HSG in the 2023-2024 fiscal year.

At the same time, propose the General Meeting of Shareholders to approve the business plan and some important operational orientations of the Group in the 2024-2025 fiscal year and the upcoming period.

Specifically, at the end of the 2023 - 2024 fiscal year, HSG's consolidated sales output reached 1,941,694 tons, up 35% over the same period, completing 112% of the plan.

HSG's consolidated revenue reached VND39,272 billion, up 24% over the same period, completing 109% of the plan.

HSG's consolidated profit after tax reached VND515 billion, 16 times higher than the same period, completing 103% of the plan.

Entering the 2024-2025 fiscal year, it is forecasted that the economic situation in general and the steel industry market in particular will fluctuate complicatedly, so the Group sets a business plan for the 2024-2025 fiscal year according to the following 2 options:

At the conference, Hoa Sen Group submitted to the General Meeting of Shareholders for approval important policies, including the policy of restructuring the Group's operating model.

Accordingly, for the traditional production and business sector (steel and corrugated iron), Hoa Sen Group Joint Stock Company will act as the parent company.

Subsidiaries and traditional manufacturing and trading factories are 100% owned or controlled by the parent company.

The traditional production and business sector focuses on stabilizing current operational efficiency to flexibly respond to market fluctuations.

For the construction materials and interior distribution business, Hoa Sen Group identifies the development strategy of the Hoa Sen Home Construction Materials and Interior Supermarket System as the focus.

In 2025 and 2026, Hoa Sen Group will establish Hoa Sen Home Joint Stock Company to focus on developing the Hoa Sen Home Construction Materials and Interior Supermarket System.

In the initial phase, Hoa Sen Group owned over 99% of Hoa Sen Home Joint Stock Company.

In the next 5 years, Hoa Sen Home Joint Stock Company will gradually take over the Hoa Sen Home System from the Group, and operate stably and profitably.

Shareholders attending the meeting.

In the future, if the situation is favorable and at an appropriate time, the Board of Directors will continue to complete the plan and roadmap for issuing shares to the public and listing shares of Hoa Sen Home Joint Stock Company, and submit it to the General Meeting of Shareholders for approval.

Currently, Hoa Sen Group owns more than 400 stores, including 120 Hoa Sen Home supermarkets; along with a system of 8 warehouses nationwide.

Hoa Sen Group also submitted to the General Meeting of Shareholders a plan to pay dividends for the 2023-2024 fiscal year in cash at an expected rate of 5%, the source of payment is from accumulated undistributed profit after tax up to September 30, 2024 according to the audited Consolidated Financial Statements for the 2023-2024 fiscal year.

At the same time, HSG has submitted to shareholders for consideration and approval a plan to buy back 50 million to 100 million treasury shares using capital surplus, undistributed after-tax profits and/or other sources as prescribed by law.

Purchase price and implementation time will depend on market developments and ensure compliance with legal regulations.

Source: https://haiquanonline.com.vn/hai-phuong-an-loi-nhuan-cua-tap-doan-hoa-sen-hsg-193851.html