AsemconnectVietnam - On February 17, 2025, Binh Dinh Economic Zone Management Board issued an Investment Policy Decision for Hoa Sen Nhon Hoi - Binh Dinh Steel Factory Expansion Investment Project of Hoa Sen Nhon Hoi - Binh Dinh One Member Co., Ltd.

The project is on an area of 9.1 hectares out of 21.8 hectares of the existing Hoa Sen Nhon Hoi - Binh Dinh Steel Factory Project of the Company in Nhon Hoi Urban Industrial Park (Sub-area 4), Nhon Hoi Economic Zone with a total investment capital of VND2,333 billion, project implementation progress from the first quarter of 2025 to the second quarter of 2027.
The Hoa Sen Nhon Hoi - Binh Dinh Steel Factory Expansion Investment Project aims to produce galvanized steel, color-coated steel, cold-rolled steel with a capacity of 350,000 tons of products/year.
It is known that as of December 31, 2024, Hoa Sen Group Joint Stock Company (code HSG - HOSE floor) owns 100% of the charter capital at Hoa Sen Nhon Hoi - Binh Dinh One Member Co., Ltd., a unit established in 2015.
According to research, Hoa Sen Group currently has an existing factory Hoa Sen Nhon Hoi Binh Dinh in Nhon Hoi Economic Zone; built on an area of 21.3 hectares with a total investment of more than VND2,000 billion.
In particular, in October 2017, Hoa Sen Group held the inauguration ceremony of phase 1 and started construction of phase 2 of Hoa Sen Nhon Hoi Binh Dinh Factory. Phase 2 of the factory was inaugurated in April 2019. The total capacity of the existing factory is 430,000 tons/year.
In terms of business activities, in the first quarter of the 2024-2025 fiscal year (from October 1 to December 31, 2024), Hoa Sen recorded revenue of VND10,221.7 billion, an increase of 12.7% over the same period; profit after tax reached VND165.53 billion, an increase of 60.1% over the same period. In which, gross profit margin improved from 10.5% to 11.8%. During the period, gross profit increased by 26.9% over the same period, equivalent to an increase of VND255.6 billion to VND1,205.3 billion; financial revenue decreased by 0.9%, equivalent to a decrease of VND0.39 billion to VND43.37 billion; financial expenses increased by 51.3%, equivalent to an increase of VND25.41 billion to VND74.96 billion; Selling and administrative expenses increased by 18.1%, equivalent to an increase of VND152.12 billion to VND991.38 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan