HPG shares of Hoa Phat Group Corporation had a positive performance in the trading session on February 27, with a 5.4% increase compared to the previous closing price, reaching 30,350 dong per share – the highest price in 21 months and establishing a market capitalization of nearly 176,500 billion dong.
Meanwhile, VIC shares of Vingroup increased by 1.2% to 45,150 dong per share, with a market capitalization of over 172,600 billion dong.
Thus, Hoa Phat’s market capitalization once again surpassed Vingroup’s, ranking 6th on the list of most valuable companies on the stock exchange.
After 3 strong consecutive trading sessions, VIC shares reversed and dropped. After more than 4 sessions from February 21, 2024 till now, VIC shares have decreased by over 7%.
The upward momentum of the shares was recorded after receiving positive signals from the Group’s business results. In the fourth quarter of 2023, while Hòa Phát’s sales revenue increased by 6,133 billion dong, the cost price increased by only 5,406 billion dong, which thickened the gross profit margin. Net profit was recorded at 2,969 billion dong, an increase of 48% compared to the previous quarter.
Throughout 2023, Hoa Phat produced 6.7 million tons of crude steel, a 10% decrease compared to 2022. The sales volume of HRC, construction steel, high-quality steel, and steel billets reached 6.72 million tons, a decrease of 7%. Although the total consumption throughout the year was lower than in 2022, the business outlook for HPG’s steel business gradually brightened as the figures tended to grow through each quarter and reached the best level in the fourth quarter, both in the domestic and export markets.
In terms of business, Hoa Phat achieved a revenue of 120,355 billion dong in 2023, a decrease of 16% compared to the same period last year. Net profit was 6,800 billion dong, corresponding to 85% of the annual plan, but only 1/5 of the record achieved in 2021.
Previously, on January 23, for the first time since its listing (2007), Hoa Phat’s capitalization surpassed Vingroup when HPG shares slightly moved against the market, pushing Hoa Phat’s market capitalization to 164,850 billion dong. This figure is sufficient to surpass Vingroup when VIC shares decrease by 0.46% in the same trading session, with a market capitalization of nearly 164,400 billion dong.
