Mr. Doan Nguyen Duc (known as “Bầu Đức”) is the founder and largest shareholder of HAGL – Illustrated image
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Mr. Doan Nguyen Duc (Bầu Đức), Chairman of the Board of Directors of Hoang Anh Gia Lai Joint Stock Company (HOSE: HAG), has successfully sold 25 million HAG shares through a matched transaction, reducing his ownership from 31.2% to 28.84%, equivalent to nearly 305 million shares. The transaction took place from August 18 to August 22.
In contrast, his son, Doan Hoang Nam, successfully purchased 27 million new HAG shares through a matched transaction on August 22, increasing his ownership from 0% to 2.55%.
The semi-annual management report for the first half of 2025 shows that Bầu Đức’s family also includes his daughter, Doan Hoang Anh, holding 13 million shares, equivalent to 1.23% of the capital. Combined, the father and his two children currently hold approximately 32.62% of HAGL’s capital.
HAG share price hits a 10-year high, exiting the warning zone
Trading statistics show that on August 18 and August 22, there were matched transactions of 25 million and 27 million shares, respectively, matching the number of shares bought and sold by Bầu Đức and his son. Specifically, on August 18, 25 million shares were traded at a value of nearly VND 381 billion, averaging VND 15,278 per share. On August 22, 27 million shares were traded at a value of nearly VND 427 billion, averaging VND 15,800 per share. These prices are lower than the average market price during the same period, which was VND 16,510 per share.
Meanwhile, the HAG share price has just hit a decade high. On August 21, the share price peaked at a 10-year high of VND 16,850 per share, before falling to VND 16,100 per share on August 22, but still up more than 55% over the year.
| HAG share price movement over the past year |
Not only has the share price been positive, but HAG has also received supportive information from the decision of the Ho Chi Minh City Stock Exchange (HOSE) on August 22 to remove the stock from the warning list starting August 26. Previously, HAG was placed on the warning list in October 2022 due to after-tax losses in 2021. The resolution of the accumulated losses has helped the company exit the warning status.
Auditors continue to highlight the risk of going concern
The reviewed consolidated financial statements for the first half of 2025 recorded a net profit of nearly VND 834 billion, up 74% over the same period last year, and ended the accumulated losses with a net profit of nearly VND 400 billion as of June 30, 2025. However, the auditors continue to highlight a material uncertainty regarding the company’s ability to continue as a going concern due to short-term debt exceeding short-term assets by more than VND 2,700 billion and violations of bond commitments.
| HAGL’s net profit over the years |
HAGL stated that they are working with lenders to adjust debt terms and plan to raise cash flow by liquidating part of their financial investments, recovering loans from partners, issuing bonds, bank loans, and a debt-to-equity swap plan. The company affirmed that the financial statements are prepared on a going concern basis, with the main source of revenue coming from banana and durian exports.
– 09:12 23/08/2025
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