Hoa Sen Group (HSG) recently announced the decision to relieve Mr. Pham Dinh from his position as Acting Vice President of the Group and Vice President of Hoa Sen Home.
The decision was made following his resignation, effective from April 15, 2025. As per the announcement, Mr. Dinh will no longer be considered an insider of the company and his employment contract with Hoa Sen will be terminated. He will be responsible for handing over all duties and tasks to his successor as directed by the Board of Directors.
Mr. Pham Dinh. Photo: HSG
Mr. Pham Dinh (born 1980) joined Hoa Sen Group in June 2005 and has held several key positions over two decades. In May 2024, he was appointed as the Acting Vice President in charge of Supply and Procurement for Hoa Sen Home, directly managing domestic business operations, especially in the Central region.
In other news, HSG has approved a resolution by the Board of Directors to distribute cash dividends for the 2023-2024 financial year. The company will distribute a dividend of 5%, meaning that for every share owned, shareholders will receive VND 500.
The record date for determining the list of shareholders entitled to receive dividends is April 3, 2025, and the expected payment date is April 28, 2025. With nearly 621 million HSG shares currently in circulation, the company is estimated to spend nearly VND 310.5 billion on this dividend payment.
Mr. Le Phuoc Vu, Chairman of the Board of Directors, who owns 16.69% of Hoa Sen Group’s capital (over 103.6 million HSG shares), is expected to receive over VND 51.8 billion in dividends this time.
Regarding business plans for the 2024-2025 financial year, at the recent Annual General Meeting of Shareholders on March 18, 2025, shareholders approved two options: Option 1 targets VND 35,000 billion in revenue and VND 400 billion in consolidated after-tax profit; Option 2 targets VND 38,000 billion in revenue and VND 500 billion in consolidated after-tax profit.
Compared to the results of the 2023-2024 financial year (VND 39,272 billion in revenue and VND 515 billion in net profit), Hoa Sen Group’s profit plan for this year shows a decrease from the previous year.
Shareholders also approved the orientations, roadmap, and plans for implementing the restructuring of the company’s business model in the following years, including the following segments:
The traditional manufacturing and trading segment (steel and galvanized steel): Hoa Sen Group will act as the parent company. The traditional subsidiaries and factories are 100% owned or controlled by the parent company.
The construction material and furniture distribution segment: The development strategy for the Hoa Sen Home system is the focus. In the next two years (2025 and 2026), HSG will establish Hoa Sen Home JSC to focus on the development of the Hoa Sen Home system. In the initial phase, Hoa Sen Group will own over 99% of Hoa Sen Home JSC.
In the following five years, Hoa Sen Home JSC will gradually take over the Hoa Sen Home system from the Group. If conditions are favorable and at an appropriate time, the Board of Directors will continue to finalize the plan and roadmap for the public offering and listing of Hoa Sen Home JSC’s shares, subject to the approval of the General Meeting of Shareholders.
The plastic manufacturing and trading segment: Hoa Sen Plastic JSC is a non-listed joint-stock company specializing in this field. In the future, Hoa Sen Plastic JSC will issue shares to strategic investors, with an expected issuance of 35 million units. The total number of shares of this enterprise is expected to be 65 million units, corresponding to a charter capital of VND 650 billion after the issuance.
After the issuance, Hoa Sen Plastic JSC will become an associated company of Hoa Sen Group with a holding ratio of less than 50%.
The Art of Stock Market Patience: When the Price is Right, I’ll be 64.
“It’s intriguing how some investors behave; they sell their stocks when a company is performing poorly, which is understandable, but they also sell when a company is doing well,” remarked the Chairman of Dabaco.
The Profitable Pen: Crafting Titles that Captivate
“HSG Aims for Profit Reversal, Plans to Purchase 50-100 Million Treasury Shares”
The Hoa Sen Group (HSG) is targeting a profit regression for the 2024-2025 financial year while planning to repurchase 50-100 million treasury stocks.
The Stock Market’s Unstable Marriage: BOS Securities Changes Their Chief Accountant Four Times in Two Years
The Board of Directors of BOS Securities Joint Stock Company (UPCoM: ART) announces the resignation of Chief Accountant, Ms. Dao Thi Kim Ngan, effective December 16, 2024.
The CSM Duo Step Down: A Tale of Leadership Transition
The Southern Rubber Industry Corporation (HOSE: CSM) announced that, on the afternoon of December 11, 2024, it received the resignations of Mr. Nguyen Manh Thai from his position as an Independent Member of the Board of Directors and of Ms. Le Thi Thao from her position as Supervisor.
Who is the New CEO of City Auto?
The Board of Directors of City Auto Joint Stock Company (HOSE: CTF) has appointed Mr. Tran Lam as the new Chief Executive Officer, succeeding Mr. Nguyen Dang Hoang, effective December 3, 2024.
