Hoa Phat Corporation (stock code: HPG) announced that it will invite and organize a visit for over 800 investors to the Hoa Phat – Dung Quat steel complex at the end of March 2024. This number is three times higher than expected. In addition, the number of registered participants is also twice as large as the number of shareholders attending the 2022 Annual General Meeting (418 people) and one and a half times the number of shareholders attending the 2023 Annual General Meeting (508 people).
According to the information we have received, when informed that the number of registered investors is three times higher than expected, Mr. Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Corporation, decided to increase the budget for the trip so that everyone could go.
“Everyone who registered will be invited. No one will be left behind” – the billionaire said.
Hoa Phat representative said that the Corporation wants all investors – whether individuals or organizations – to have equal and transparent access to information about the company.
With a number of up to 800 people, this is an unprecedented production facility visit on the Vietnamese stock market. Initially, Hoa Phat budgeted for 300 investors. Now that the number has tripled, the cost will also increase accordingly, not to mention that the logistics organization will be much more complex.
Previously, Hoa Phat also announced a visit program to the Hoa Phat – Dung Quat steel complex for investors. In addition to a Q&A session with the corporate leadership, investors will be designated an automobile tour of the project, passing through key points in the closed steel production cycle such as Blast Furnace Plant, HRC Steel Production Plant, High Furnace Area, Steel Refining Plant, and seaport.
Investors will witness with their own eyes Dung Quat 1 having completed the design requirements and Dung Quat 2 having taken shape, with machinery lines being urgently installed for operation by the end of 2024 and early 2025.
Lastly, there will be a direct Q&A session with the Hoa Phat corporate leadership, including the Chairman of the Board of Directors, the Financial Director, the Hoa Phat Dung Quat Director, and Hoa Phat Dung Quat Technical Staff.
In addition to the above, program participants will be provided with shuttle services from Da Nang/Chu Lai Airport to Hoa Phat Dung Quat at designated hours and one-night stay at The Harmonia Hotel. Hoa Phat invites these groups to have lunch at The Harmonia Hotel on the day of the program.
The Hoa Phat Dung Quat steel complex has a designed capacity of 6 million tons per year, with a total investment capital of about VND 86,000 billion, including 3 million tons of construction steel, high-quality coiled steel, and 3 million tons of hot-rolled coiled steel per year. Dung Quat 1 project has been completed in synchronization in Q1/2021.
Currently, Hoa Phat is implementing the Hoa Phat Dung Quat steel complex project 2 (adjacent to Dung Quat 1 project) on an area of over 280ha, with a total investment capital of VND 85,000 billion. The total design capacity of this project is 5.6 million tons of hot-rolled coiled steel per year. According to the plan, the Dung Quat 2 project will be completed in the first quarter of 2025. By the end of 2023, the project has completed 45% of its construction progress.
