Hoa Phat Group (HPG) has just announced that it has contributed more than VND 9,000 billion to the State budget in 2023. This is the lowest tax level in the past 3 years and a decrease of 19% compared to 2022.
The total amount of taxes and fees of Hoa Phat Dung Quat Steel Company that are contributed to the budget includes: VAT on imported goods, export-import taxes, domestic taxes … reached over VND 5,500 billion and is the largest contributing company of Hoa Phat Group.
The subsidiaries that contribute the most to the budget are Hoa Phat Dung Quat Steel, Hoa Phat Hai Duong Steel, Hoa Phat Steel Pipe, Hoa Phat Steel Hung Yen, and Home Appliances. Among them, Hoa Phat Hai Duong Steel is the second largest contributing company in Hoa Phat Group with over VND 1,300 billion.
It is known that Hai Duong is the hometown of Mr. Tran Dinh Long – Chairman of Hoa Phat. In Hai Duong, Mr. Tran Dinh Long’s Hoa Phat Group is the investor and operator of the Hoa Phat Iron and Steel Complex in Kinh Mon town, with a capacity of 2.5 million tons of construction steel and high-quality steel per year.
Some other subsidiaries of the Group that make large contributions to the State budget include: Hoa Phat Steel Pipe, Hoa Phat Steel Hung Yen, Hoa Phat Home Appliances, Hoa Phat Construction and Urban Development, Hoa Phat Minerals ….
Established in 1992, Hoa Phat Group operates in 5 sectors: Iron and Steel – Steel Products – Agriculture – Real Estate – Home Appliances. Hoa Phat owns a high-quality diverse product ecosystem. The group’s prominent steel products include construction steel, hot-rolled coils, high-quality steel, prestressed steel, steel pipes, galvanized steel, and containers. In the home appliances industry, Hoa Phat has a range of products such as freezers, air conditioners, refrigerators, water filters, washing machines, dishwashers, induction cookers, coolers …
Since 2007, when Hoa Phat started listing on the stock market until December 31, 2023, Hoa Phat has contributed over VND 74,000 billion to the State budget.
In terms of business, in 2023 Hoa Phat achieved VND 120,355 billion in revenue, a decrease of 16% compared to the same period last year. After-tax profit is VND 6,800 billion, equivalent to 85% of the annual plan.
