The Great Executive Shuffle at Hải Phát Investment

As of September 4, 2024, Hai Phat Investment relieved Mr. Le Hong Son of his duties as Chief Accountant.

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Recently, Hai Phat Investment Joint Stock Company (HPX: HPX) announced personnel changes in Document No. 355/CBTT-HPX.

Specifically, Hai Phat Investment has relieved Mr. Le Hong Son from the position of Chief Accountant since September 4, 2024, due to a restructuring of the company’s senior management.

On the other hand, the company has appointed Ms. Nguyen Thi Phuong Nga as Chief Accountant from September 4, 2024, until further notice.

According to HPX, Ms. Nguyen Thi Phuong Nga (born in 1976) currently holds the position of Chief Accountant at Thanh Nhan Investment Construction and Trading JSC, An Thinh Investment JSC, and Opal Vietnam Architecture and Planning Consulting JSC. She is also the Director of HVT Bac Kan JSC.

Regarding personnel matters, on May 3, Hai Phat Investment accepted the resignation of Mr. Doan Hoa Thuan from the position of General Director due to differences in management and administration perspectives. The company then appointed Mr. Nguyen Van Phuong as the General Director for the term 2024-2029.

On August 16, the company also relieved Mr. Nguyen Manh Tien from the position of Deputy General Director. It is notable that Mr. Tien had just been appointed to the position on April 2, 2024, replacing Mr. Do Quy Thanh.

In the second quarter of 2024, Hai Phat Investment recorded a 55.6% year-on-year decrease in revenue to VND 331.4 billion, and a 62.3% decline in after-tax profit to VND 31.4 billion, mainly due to a 59% drop in real estate business revenue to VND 293 billion.

The company’s management attributed the decrease in profit to the reduced number of products delivered to customers in Q2/2024, along with unchanged fixed costs.

For the first six months of 2024, HPX recorded a 26.9% year-on-year decline in revenue to VND 655 billion and a 17.2% decrease in after-tax profit to VND 47 billion. With these results, the company has only achieved 23% of its revenue plan and 45% of its profit plan for the year 2024.

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