HAPUMA has a long tradition of paying consistent dividends for 17 years since 2007, with a stable rate of no less than 15%. The company decided to increase its 2023 dividend to 2,000 VND per share, the highest in the last four years, against the backdrop of record-breaking profits with a net profit of nearly VND 50.8 billion, up 2% over the same period.
| HAPUMA’s net profit in 2010-2023 |
In the first six months of 2024, CTB recorded revenue of over VND 132 billion and a net profit of less than VND 6 billion, down 57% and 55% respectively over the same period last year; achieving nearly 19% of revenue target and 16% of profit target for the year.
In 2024, the company plans to reduce the dividend ratio to 15% in cash, equivalent to the 2020-2022 period.
HAPUMA, formerly known as Hai Duong Pump Manufacturing Company, was established in 1998 and transformed into a joint-stock company in 2004. Its main business is designing, manufacturing, and trading hydraulic equipment such as pumps, compressors, and valves. The head office is located in Cam Thuong Ward, Hai Duong City, Hai Duong Province. As of June 30, 2024, the company had 269 employees.
HAPUMA Head Office
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The company has gone through five rounds of charter capital increases, from over VND 17 billion at the time of equitization to VND 136.8 billion in 2019, equivalent to nearly nine times the original amount. Currently, the largest shareholder is the family of Chairman of the Board of Directors, Nguyen Trong Tieu, holding nearly 2.4 million CTB shares (17.33% stake), of which Mr. Tieu owns 3.38% individually.
In addition, several executives, including former Chairman of the Board of Directors, Pham Manh Ha, hold 4.93% stake; General Director Nguyen Trong Nam holds 2.73%; Board member Hoang Phuong holds 2.19%; Chief Accountant Doan Thi Nam Phuong holds 1.17%, etc.
Previously, the Board of Directors of HAPUMA approved the resignation of Mr. Pham Manh Ha from the position of Chairman of the Board of Directors from April 26, 2024, following his personal request. Even after stepping down as Chairman, Mr. Ha remains a member of the company’s Board of Directors.
 Mr. Pham Manh Ha (left) and HAPUMA’s Chairman Nguyen Trong Tieu
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Mr. Nguyen Trong Tieu was appointed to replace Mr. Ha. Prior to his appointment as Chairman, Mr. Tieu was a senior advisor to HAPUMA.
Mr. Nguyen Trong Tieu (born in 1959), a Hanoi native, holds a Bachelor of Electrical Engineering degree. He served as Chairman of the Board of Directors of HAPUMA for nearly 13 years (from November 2007 to July 2020). In addition, Mr. Tieu also held the position of Vice Chairman of the Board of Directors of GELEX Group during the period of 2018-2023.
Notably, GELEX used to be the parent company of HAPUMA, holding more than 51% of its charter capital, before divesting its entire stake in 2016.
The Manh
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Although the fourth quarter saw a reversal in profits, declining revenue resulted in Cen Land’s net profit for the entire year of 2023 only reaching 2.5 billion VND. It is worth mentioning that nearly 60% of the company’s assets consist of receivables from partners, with a total value of approximately 4,100 billion VND.
