Vicostone buys more factories; Ton Dong A increases capital for its children; Hoa Sen focuses on domestic market

Vicostone receives transfer of chemical factory from parent company; Licogi 13 wants to establish 6th subsidiary; Ton Dong A increases capital for subsidiary...

Vicostone receives transfer of chemical factory from parent company; Licogi 13 wants to establish 6th subsidiary; Ton Dong A increases capital for subsidiary...

Vicostone receives transfer of chemical factory from parent company

Vicostone JSC will submit to the General Meeting of Shareholders (scheduled to meet on April 10) to approve the transfer of the chemical factory from Phenikaa, and at the same time announce the 2025 business plan with 2 different growth scenarios.

Phenikaa Chemical Factory.

Accordingly, Vicostone wants to transfer the entire Phenikaa Chemical Factory project from its parent company A&A Green Phoenix Group Joint Stock Company (Phenikaa), which holds 84% of Vicostone's capital. This project is capable of producing unsaturated Polyester resin (UP), an important raw material for Vicostone's artificial stone production.

The transfer is to ensure proactive raw material sources and increase income from chemical trading. The transfer price will be determined by an independent valuation unit, the Board of Directors will decide the specific time and price.

The project was mentioned by Vicostone from 2023 with a total investment of 50.6 million USD, divided into 2 phases with a capacity of 50,000 tons/year. Currently, phase 1 has been completed with a capacity of 25,000 tons/year and is in stable operation. At the end of 2024, the total assets serving the project's production and business reached more than 376 billion VND, while the value of the capital in the enterprise was nearly 173 billion VND.

Previously, Vicostone Chairman of the Board of Directors Ho Xuan Nang affirmed that the project has been operating stably and profitably. Production output in 2021 reached 18,773 tons, and in 2022 reached 15,600 tons. However, the transfer process was delayed due to legal problems related to land acquisition.

Ton Dong A increases capital for subsidiary

Dong A Steel Corporation decided to increase VND95 billion in Dong A - Phu My LLC, raising the total investment capital in the subsidiary to VND210 billion.

Ton Dong A recorded positive business results in the first two months of the year.

Dong A - Phu My is one of 6 subsidiaries of Ton Dong A, established in 2024 in Phu My 3 Specialized Industrial Park, Ba Ria - Vung Tau, with the main business being coil steel production.

The decision was announced on March 18, just three months after Ton Dong A added VND15 billion to this subsidiary in December 2024.

Along with the capital increase, Ton Dong A recorded positive business results in the first two months of 2025, especially in the domestic market. In February 2025, total sales volume reached 73,110 tons, an increase of 18% over the same period last year.

The bright spot was the domestic market, which grew 208% to 47,170 tonnes. According to the company, this growth came after the Lunar New Year holiday and reflected a recovery in construction activities across the country. Domestic products all increased sharply: galvanized steel increased 253% to 14,916 tonnes; cold-rolled steel increased 220% to 15,858 tonnes; and color-coated steel increased 167% to 16,396 tonnes.

The company said that the commencement of a series of public and private investment projects in early 2025 will help boost the consumption of galvanized steel products, especially in key economic areas such as Ho Chi Minh City, Binh Duong, Dong Nai and Long An.

On the contrary, the export market faced many difficulties. Export output in February reached only 25,940 tons, down 44% compared to the same period last year. The main reason was fierce competition and trade protection measures from major markets such as the US, Europe and ASEAN countries.

In the first two months of 2025, Ton Dong A sold 130,079 tons. Of which, the domestic market accounted for 71,205 tons and exports reached 58,874 tons. Although January's output decreased due to the Tet season, the strong recovery in February helped maintain a balanced business result.

In 2024, Ton Dong A will achieve revenue of more than VND 19,100 billion, an increase of nearly 10% compared to 2023, and net profit of VND 342 billion, an increase of 20%. By the end of 2024, the Company will have more than VND 4,000 billion in liquid assets, including VND 2,700 billion in bond investments and VND 1,400 billion in bank deposits. This financial resource is expected to support the plan to build a new factory to produce galvanized steel sheets with a total investment of about VND 10,000 billion.

Lotus towards inland

"The global protectionist trend will cause difficulties for the Group's business operations," Hoa Sen Group Chairman Le Phuoc Vu explained the Group's decision to focus on the domestic market, with Hoa Sen Home positioned as an important strategic card.

Hoa Sen Home is positioned as an important strategic card in the plan to focus on the domestic market.

"In this trend, exporting is a difficult problem for most businesses in the medium term. This is a quite serious problem and with such objective conditions, we have to adjust our strategies and tactics to adapt," Mr. Le Phuoc Vu told shareholders at the General Meeting of Shareholders.

In 2025, Hoa Sen plans to invest VND1,060 billion to develop the Hoa Sen Home system. This investment will be allocated to many goals: VND400 billion for expanding the store system, VND500 billion for investing in the warehouse system, VND60 billion for technology and VND100 billion for marketing activities.

With great ambition, the Company aims for an average annual compound growth rate of 16.3% for the Hoa Sen Home chain in the period 2024-2030. Chairman Vu sets the vision that Hoa Sen Home will become "the No. 1 construction materials and interior supermarket system in Vietnam and the leading one in Southeast Asia".

Starting in 2021 with 35 stores, Hoa Sen Home has rapidly expanded to 110 stores in 2022, 114 stores in 2023 and 120 stores in 2024. In particular, by 2030, the plan is to open 25-35 more stores each year, bringing the total number of stores to 300.

In fiscal year 2024, Hoa Sen Home achieved revenue of VND 13,343 billion, of which construction materials accounted for 98%, and set a target of reaching VND 15,000 billion in 2025.

Licogi 13 wants to establish the 6th subsidiary

The Board of Directors of Licogi 13 Joint Stock Company approved the capital contribution policy to establish Licogi 13 Hoa Lu Joint Stock Company, headquartered at No. 21, Lane 36, Kim Dong Street, Van Giang Ward, Hoa Lu City, Ninh Binh Province.

Licogi 13 approved the capital contribution policy to establish Licogi 13 Hoa Lu Joint Stock Company.

The new company has a charter capital of 40 billion VND, of which LIG contributed more than 39 billion VND, accounting for 98% of the capital. LIG appointed Mr. Pham Van Thang, member of the Board of Directors and General Director, as the representative to manage the capital contribution at Licogi 13 Hoa Lu.

By the end of 2024, Licogi 13 owns 5 subsidiaries and 11 associates. Licogi 13 Hoa Lu will be the 6th subsidiary of this enterprise, if the capital contribution is successful.

In early March 2025, LIG approved the transfer of 100% of the Company's capital at Licogi 13-Infrastructure Mechanical JSC (Licogi 13-IMC). LIG said that the Company currently owns nearly 1.1 million shares, equivalent to 32.78% of capital at Licogi 13-IMC.

In September 2024, LIG's Board of Directors approved the transfer of nearly 1 million LICOGI 13-IMC shares, equivalent to 30% of capital, thereby reducing ownership from 62.78% to 32.78% as present.

In 2024, LIG recorded consolidated net revenue of more than VND 3,766 billion, up 14%; while net profit was only more than VND 600 million, down more than 90% compared to the previous year and a year with a record low profit for the Enterprise. With this result, LIG did not complete the pre-tax profit plan of VND 15 billion in 2024.

Source: https://baodautu.vn/vicostone-mua-them-nha-may-ton-dong-a-tang-von-cho-con-hoa-sen-huong-vao-noi-dia-d257412.html