The General Meeting of Shareholders (GMS) approved the business plan for 2026 with revenue of VND 210,000 billion, an increase of 32.6% compared to 2025; expected after-tax profit of VND 22,000 billion, an increase of 41.8% compared to the previous year. At the end of the first quarter, Hoa Phat recorded more than VND 53,300 billion in revenue and VND 9,056 billion in after-tax profit, an increase of 40% and 170% respectively compared to the same period in 2025.
At the congress, Chairman of the Board of Directors Tran Dinh Long shared positive signals about the growth prospects of the Group. He emphasized that the core business of steel this year will be very positive thanks to the general trend of the world as well as the start of "harvesting sweet fruit" from large investment projects such as Hoa Phat Dung Quat Iron and Steel Production Complex.
In 2025, the Group achieved VND 158.332 billion in revenue and VND 15,515 billion in after-tax profit, an increase of 13% in revenue and 29% in profit compared to 2024. In which, steel production - the core sector - contributed 93% of the Group's total revenue. Steel sales output for the first time exceeded 10 million tons, an increase of 25% compared to the previous year; hot rolling steel (HRC) alone grew by over 70%. Hoa Phat continues to hold the No. 1 position in Vietnam in terms of market share of construction steel and steel pipes, reaching 37.6% and 31.2% respectively.
Gradually expanding and deeply participating in the real estate sector
Answering shareholders' questions about future orientations, Mr. Tran Dinh Long said that the Group will focus on three main directions.
The first is to complete Dung Quat Complex. The second is to invest in depth to increase productivity and output in existing complexes. And the third is to start stepping into the real estate sector," Mr. Long said.
According to Hoa Phat's leaders, real estate is currently in a difficult period, with large supply and low liquidity. However, the Group still decided to participate with a cautious approach, prioritizing products with good liquidity, avoiding being "capitalized".
“We do not prioritize sudden profits from the beginning. The important thing is to do it surely,” Mr. Long emphasized.
Regarding profit structure, Hoa Phat Chairman said that in the total profit of about 9,000 billion VND, the part from core operations reached about 5,200 billion VND, and the remaining about 3,800,000 billion VND came from the transfer of real estate project capital to partners.
Assessing this field, Mr. Long said that real estate needs accumulation time. In the next 1-2 years, this segment may not contribute significantly, but in the long term, it is expected to become a driving force for growth.
Regarding the profit plan, he said that the Board of Directors once proposed a level of about 8,000 billion VND, then it was gradually adjusted to increase and finalized at 22,000 billion VND.
I always put pressure on the Executive Board, but if we set a target of 25,000–30,000 billion VND from the beginning, it will create too much pressure. However, we still need to have dreams, we can aim for 25,000 billion VND," he said.
Expecting to create a new face for the Red River region
Notably, sharing about the project to invest in the construction of the Red River Landscape Avenue, Mr. Long said that the project could change the face of the Capital. He cited the changes in the eastern area of Da Nang along the Han River in the past 30 years - from a sparse area to a modern urban space - to show the development potential of riverside projects.
I think if we cannot do such projects, it will be difficult to make a mark. However, this is a very difficult field, from site clearance to river governance, it may be necessary to relocate hundreds of thousands of people," he said.
According to Mr. Long, participating in the project is not only to create a strategic position but also to contribute to the development of the Capital. If implemented in the right direction, the riverside area can become a highlight, attracting millions of visitors each year.
Emphasizing further, the Chairman of Hoa Phat said that he is "very dedicated" to this project, because this is a rare location and can bring a completely new look to the city.
We consider this a story of'now or never'. If we don't do it now, it may be difficult to implement in 100-200 years. But if we can do it, it will be very beautiful - a city facing the river, instead of turning its back as it is now," he shared.
However, Hoa Phat's leaders also admitted that the project is only in the early stages, so it is not possible to specifically assess financial efficiency. "How much efficiency and profit, perhaps it will be possible to answer more clearly in the next general meetings," he said.
According to him, the initial signal is positive thanks to the very good project location. "In real estate, there may be times of oversupply, but special locations are still different. This is a location that can be said to be'unique'," he said.
At the same time, Mr. Long emphasized that Hoa Phat will not invest in real estate at all costs. The Group does not borrow to develop projects and only uses a portion of profits to participate, instead of focusing all resources.
Therefore, shareholders can rest assured and continue to trust us," Mr. Long shared.
