Two Major Shareholders Divest from Haian Transport and Stevedoring JSC. Photo: Haian.
D.C. Star Investment JSC has recently released a report on changes in major shareholder ownership,
involving investors holding 5% or more of shares/closed-end fund certificates.
On May 7th, D.C. Star Investment offloaded 190,000 HAH shares of Haian Transport and Stevedoring JSC
(Stock Code: HAH, HoSE), reducing its ownership from 10.01% to 9.83% of charter capital. The given reason
for this ownership change was portfolio adjustment.
Notably, just a day later, on May 8th, Vietnam Container Shipping JSC (Viconship, Stock Code: VCS)
sold 5,278,500 HAH shares, decreasing its ownership from 7.53% to 2.53%, thus no longer being a major
shareholder in Haian Transport and Stevedoring JSC.
In other news, the HAH Board of Directors has approved a resolution to participate and sign a business
cooperation contract to invest in and operate the HCY-268 ship (Haian Opus), with a total expected value
of nearly VND 696 billion. HAH will contribute nearly VND 296 billion (42.5% stake), while Hai Ha
Investment and Transport JSC will invest over VND 52 billion (7.5% stake), and the remaining 50% will be
financed through bank loans.
Regarding Haian’s business performance, in the first quarter of 2024, the company recorded over VND 704
billion in net revenue, a 7% increase compared to the same period last year. However, its net profit
decreased by 50.2% to VND 59.2 billion. Haian attributed this less favorable outcome mainly to a decline
in transportation activities. Specifically, while transportation volume increased due to the addition of
new routes, sea freight rates and charter rates decreased, resulting in a significant drop in profits from
ship operations. Additionally, the performance of subsidiary and associate companies was also impacted,
contributing to the overall reduction in profits.
For the full year 2024, Haian targets a total revenue of VND 3,326 billion and a consolidated after-tax
profit for the parent company of VND 290 billion, representing decreases of 5% and nearly 25%,
respectively, compared to the 2023 figures. Thus, after the first quarter, the company has achieved 21.2%
of its revenue plan and 20.4% of its net profit target for the year.
