HOA PHAT Group Joint Stock Company (HPG code) has just announced an invitation for investors to register for a visit to Hoa Phat Dung Quat Iron and Steel Combo in Quang Ngai.
The participants include representatives from securities companies (analysis, brokerage, proprietary trading), investment funds, and individual investors.
Three visits will be organized on 26th, 27th, and 28th March 2024, with an estimated 100 guests per session. The registration link will be posted on the Group’s official website/fanpage at 9:00 AM on 26th February 2024, and the registration deadline is 5:00 PM on 27th February 2024. Afterward, Hoa Phat will officially send invitation emails to successfully registered participants on 29th February 2024.
Hoa Phat will provide shuttle services from Da Nang/Chu Lai airports to Dung Quat IS Combo, as well as lunch and one-night stay at the 4-star The Harmonia Hotel.
Source: Hoa Phat
About the Hoa Phat Dung Quat IS Combo, it is a project with a designed capacity of 6 million tons per year, with a total investment of about VND 86,000 billion, including 3 million tons of construction steel, high-quality wire rod steel, and 3 million tons of hot-rolled steel coils per year. Dung Quat 1 project was completed in Q1/2021.
Currently, Hoa Phat is implementing the Hoa Phat Dung Quat IS Combo 2 project (adjacent to Dung Quat 1 project) with a scale of over 280ha and a total investment of VND 85,000 billion. As of December 31, 2023, Hoa Phat has invested more than VND 22,555 billion into the Dung Quat 2 project, an increase of over VND 13,000 billion compared to the beginning of 2023.
According to the plan, the Dung Quat 2 IS Combo project will be completed in Q1/2025. The designed capacity of this project is 5.6 million tons per year, including 4.6 million tons of hot-rolled coils (HRC) and 1 million tons of special steel. Hoa Phat is expected to take about 3 years to operate Dung Quat 2 at maximum capacity, thereby increasing crude steel output to over 14 million tons per year.
In addition, according to the scheduled plan, on the morning of April 11th at Melia Hanoi 5-star Hotel (Hanoi), Hoa Phat will hold the Annual General Meeting of Shareholders in 2024. The final registration date for shareholders’ list is March 11th, 2024.
In terms of business performance, Hoa Phat achieved VND 120,355 billion in revenue in 2023, a decrease of 16% compared to the same period last year. The after-tax profit is VND 6,800 billion, completing 85% of the annual plan but only equal to 1/5 of the record level achieved in 2021.
HPG shares ended the session on February 23rd at VND 28,400/share.
