Billionaire Tran Dinh Long wins big

Hoa Phat Group (stock code: HPG) has just sent an official dispatch to the State Securities Commission and Ho Chi Minh City Stock Exchange (HoSE) to report on its business situation in the third quarter and 9 months.

In the third quarter, the company chaired by Mr. Tran Dinh Long recorded VND3,022 billion in after-tax profit, up 51% over the same period.

Accumulated 9 months, after-tax profit of the enterprise reached 9,210 billion VND, up 140% over the same period last year. The main contributor to this result was steel and related products with 85%, followed by the agricultural sector.

The group's third-quarter revenue reached more than VND34,000 billion, up 19%. Accumulated revenue in the first 9 months reached more than VND105,000 billion, equivalent to more than USD4 billion, up 23% over the same period, completing 75% of the yearly plan. Hoa Phat said it paid VND10,000 billion to the state budget in 9 months, exceeding the amount paid for the whole year of 2023.

The above results are thanks to the improvement in sales revenue and profit margin of some business areas such as steel and agriculture. Specifically, the profit of the steel group increased by 42%, the agriculture group increased by 80% compared to the same period. The industrial park infrastructure leasing sector maintained a stable profit margin at 39%.

Construction steel and high-quality steel output in the third quarter reached nearly 1.1 million tons, down 14% from the previous quarter. However, the domestic construction steel market share still maintained its leading position with 38%. Hot-rolled steel coil output reached 738,000 tons, equivalent to the second quarter.

In the first 9 months, Hoa Phat produced 6.4 million tons of crude steel, up 34% over the same period. Sales of all types of steel (excluding steel pipes and galvanized steel) reached 6.1 million tons, up 32%.

Of which, construction steel and high-quality steel contributed 3.3 million tons, up 29%. Hot-rolled coil (HRC) reached 2.27 million tons and steel billets reached 505,000 tons. For downstream steel products, steel pipes reached 503,000 tons, up 3% compared to the first 9 months of 2023. Hoa Phat Steel achieved an output of 344,000 tons, up 43% over the same period, exceeding the figure achieved in the whole year of 2023.

Billionaire Tran Dinh Long's group is focusing on the construction of the Hoa Phat Dung Quat 2 Iron and Steel Complex project, with a capacity of 5.6 million tons of hot-rolled steel coil per year. According to the current progress, phase 1 is expected to have the first hot-run test product at the end of the year.

On the stock market, HPG shares reached a price of VND27,150/unit at the end of the session on October 15, up 0.37% compared to the previous session and up nearly 7% compared to the beginning of the year. Average liquidity reached 24.5 million shares matched per session over the past month.

Source: https://dantri.com.vn/kinh-doanh/ty-phu-tran-dinh-long-thang-dam-20241016072900249.htm