10 hallmarks of Hoa Phat Group 2024

Promoting high-quality steel production, ensuring the progress of the Hoa Phat Dung Quat 2 Iron and Steel Complex project, consolidating its position as the No. 1 market share in the steel industry in Vietnam and Southeast Asia, actively implementing social security... are typical marks of Hoa Phat Group in 2024.

At the Annual General Meeting of Shareholders in March 2024, Chairman of the Board of Directors Tran Dinh Long shared the orientation of focusing on developing steel lines with high technical content and quality, serving the needs of the mechanical engineering industry,...

Hoa Phat's current production capacity is 8.5 million tons/year, including 3 million tons of hot rolled coil steel, 5.5 million tons of high-quality steel, and construction steel. By the end of November, Hoa Phat's sales output of all types of steel reached over 7.5 million tons, of which construction steel alone reached 4.1 million tons.

Hoa Phat's steel production complex in Dung Quat (Quang Ngai) and Kinh Mon ( Hai Duong ) has researched and developed many high-quality steel product lines, especially special and complex technical steel product lines such as steel coils for car tires, screws, welding rod cores, elevator cables, cold-formed high-alloy steel, crane steel, high-strength prestressed steel, etc.

Hoa Phat's high-quality steel has been used in major projects such as supplying more than 5,000 tons of ASTM A615/615M Grade 60 ribbed steel bars (according to US standards) with high mechanical and physical properties to the US Embassy Complex Project in Hanoi . The products have been exported to the US, Mexico, Peru... and received very positive feedback from customers. In the domestic market, the products have been supplied to many major infrastructure projects such as airports, Metro lines in Hanoi, Ho Chi Minh City and many other key projects.

Hoa Phat's future projects will continue to develop special steel lines such as high-speed rail steel, electrical engineering steel, steel plates, shaped steel, etc. to serve the automotive, railway, shipbuilding, structural processing, etc. industries.

Hoa Phat Dung Quat 2 Iron and Steel Complex was deployed from the first quarter of 2022 with a scale of 280 hectares, a total investment of VND 85,000 billion, and a designed capacity of 5.6 million tons of high-quality hot-rolled coil (HRC) steel per year. The hot-rolled coil production line at the project uses European technology, continuous casting and rolling, allowing the production of diverse types and high quality, serving the automotive industry, low-carbon steel for the production of products such as canned food, household appliances, steel structures, HRC steel for the production of high-strength, weather-resistant container shells, etc.

With the rapid efforts of tens of thousands of employees of the Company and hundreds of contractors and suppliers, the project has completed the installation of phase 1 equipment, preparing to put into trial operation from the beginning of the first quarter of 2025, on schedule. Phase 2 of the project is expected to be completed by the end of 2025.

Upon completion, Hoa Phat's crude steel production capacity will reach 14.5 million tons per year, including 8.6 million tons of high-quality hot-rolled coil steel, making the Group the leading steel producer in the region, elevating the Vietnamese steel brand on the world map.

Hoa Phat Steel Pipe firmly consolidates its No. 1 position in Vietnam with nearly 28% market share. Currently, Hoa Phat's steel pipe production capacity is 1 million tons/year, with diverse types, stable quality, and fast supply capacity. Hoa Phat Steel Pipe is the first choice of investors, along with structural contractors to participate in domestic and foreign projects.
With the message "Full weight - Solid construction", Hoa Phat Steel Pipe has supplied to a series of large, key national projects and works across the country, the most prominent of which are the T3 Terminal project of Tan Son Nhat International Airport and Long Thanh International Airport, the largest National Exhibition Center in Southeast Asia,...
Regarding corrugated iron products, in early June 2024, Hoa Phat Steel Co., Ltd. officially launched the new G7 - Luxury corrugated iron line to the market with many outstanding quality points. In 2024, Hoa Phat Steel continued to maintain its position in the Top 5 largest corrugated iron manufacturers in Vietnam. In particular, corrugated iron output in the domestic market exceeded the set plan, exports grew strongly, mainly to European and American markets...

Hoa Phat has proactively sourced everything from high carbon steel coil materials to PC Strand prestressed steel cable production, completing the Group's closed value chain from input to output. For 7-strand cable products alone, the Company can produce over 160,000 tons/year, ready to supply PC Strand cable products with superior quality, meeting American, British, Japanese standards, etc.

Hoa Phat prestressed steel has been exported to demanding markets such as: USA, Canada, Brazil, Mexico to countries and territories in the region such as Taiwan, Malaysia, Cambodia, Singapore, Sri Lanka, Myanmar... In the domestic market, Hoa Phat PC Strand steel has been used in large projects, highways, bridges, seawalls...

In the coming time, Hoa Phat will focus on investing in expanding PC Strand production, diversifying product lines, promoting exports to other countries... Continuing to research and produce galvanized PC Strand used as stay cables in road and bridge construction.

In April 2024, BSI - the UK's leading international certification organization, issued a certificate of inspection and confirmation of greenhouse gas inventory according to ISO 14064-1:2018 and ISO 14067:2018 standards for product lines/codes being produced at Hoa Phat Dung Quat Steel.

Hoa Phat applies modern, closed-loop production technology from G7 countries to production at all iron and steel production complexes. In addition to using excess heat in coke smelting to generate electricity, the Complex also utilizes excess coal gas in iron and steel smelting as fuel for boilers to generate electricity. This technology has contributed to environmental protection, reduced CO2 emissions, and self-sufficiency of up to 90% of electricity demand for production.

In addition, another member company of the Group, Hoa Phat Steel, was also inspected by BSI to confirm its greenhouse gas inventory report for businesses according to ISO 14064-1:2018 and ISO 14067:2018 - Quantifying carbon footprint for product lines.

This is one of the activities that steel and corrugated iron manufacturing enterprises need to implement, as a premise to meet other requirements when exporting goods to the world market, especially the European region.

Hoa Phat's agricultural sector recorded many targets exceeding the plan, the most impressive of which was the egg output of 330 million eggs. Hoa Phat's egg distribution network is currently present in more than 100 supermarkets in the North and across three regions. With 80% of local workers, Hoa Phat Poultry Company not only achieved business efficiency but also contributed positively to the socio-economic development of Phu Tho province.

Although the livestock industry faces many difficulties, Hoa Phat Animal Feed Company has demonstrated its ability to adapt flexibly and make breakthroughs with many effective production solutions. The Piglet Lactose++ and Optimum product lines continue to affirm their position in the market, helping to perfect the digestive system and promote growth for piglets.

In the field of pig farming, the output of finished pigs exceeded the set plan. Typically, the Long Ha farm cluster has provided the market with more than 90,000 commercial breeding pigs and nearly 200 high-quality breeding pigs. The Australian cattle farming sector has had positive changes compared to 2023 when livestock output was higher than the previous year.

The total planned land fund of Hoa Phat's industrial parks is currently over 1,133 hectares, concentrated in Hung Yen and Ha Nam provinces. Pho Noi A Industrial Park (Hung Yen) has an occupancy rate of about 95%, attracting 164 domestic and foreign enterprises in operation. This is the destination of many large corporations from the US, Japan, Korea and Europe.

Continuing the growth momentum, phase 2 of the Yen My II Industrial Park expansion project has completed site clearance. The plots of land are ready to be handed over to investors with the occupancy rate of Yen My II Industrial Park currently reaching nearly 50%.

In parallel with the development of industrial parks, with the goal of sustainable development and ensuring social security, the Group is actively implementing a 31-hectare social housing project in Yen My II Industrial Park. This project will make an important contribution to solving the housing needs of low-income workers in the locality, while creating a driving force for the development of the industrial park.

Currently, Hoa Phat Group is carrying out investment procedures to develop 3 more industrial parks in the near future.

Hoa Phat household appliances have demonstrated their strategic vision through the development of a diverse product portfolio in 2024. The Group has successfully launched a collection of 12-core water purifiers integrated with Ultra H8.0 technology, a semi-industrial RO water purifier with a capacity of 80 liters/hour. The kitchen product line has been supplemented with a collection of new generation snap-on rice cookers and high-tech Funiki non-stick pans. Many other household products have been launched on the market.

Water purifier - the main product of Hoa Phat Household Appliances is honored to become the only water purifier brand to receive the title of national brand in 2024. At the end of the year, the induction cooker production line with a capacity of 300,000 products/year came into operation, opening up new development opportunities in the high-end kitchen appliance segment.

During the year, Hoa Phat successfully exported refrigerators to the US market for the first time. The 286L refrigerator with Double Inverter technology has passed the strict standards of the US Underwriters Laboratory (UL) for safety and energy efficiency.

Not only refrigerators, Hoa Phat also continues to expand its product portfolio with a line of freezers applying CR Tech anti-corrosion technology from Japan. This technology provides superior resistance in harsh environments and is highly appreciated by the international market.

According to the announcement of Vietnam Report and VietnamNet Newspaper, Hoa Phat Group was honored as the 2nd largest private enterprise in Vietnam in 2024 and the 12th largest enterprise in the country. From 2014-2024, Hoa Phat has been in the Top 10 largest private enterprises in Vietnam for 10 consecutive years. In 2022-2023, Hoa Phat Group led the Top 10 largest private enterprises in Vietnam. This is the 17th consecutive year that Hoa Phat has been honored in the ranking of the largest companies in Vietnam (VNR 500).

In 2024, Hoa Phat will also be present in prestigious rankings, typically: 7 consecutive times honored as National Brand, Top 3 Private Enterprises with the largest budget contributions in the country, Top 50 most effective businesses, Top 100 largest companies in Southeast Asia by Fortune...

With an increasingly large scale, Hoa Phat Group is promoting digital transformation. The Human Resource Management System has officially been put into operation across the Group since April 2024. The system provides optimization in human resource management, ensures information accuracy and transparency, and supports more effective human resource strategy planning for the Group.

At the same time, Hoa Phat Group is implementing a number of other projects such as: E-office Project Phase 2 - digitizing documents and building an official knowledge management warehouse from August 2024; Standardizing human resource management; MDM system - a shared data management platform for the entire Group;... Hoa Phat applies the E-Learning system in many training activities, organizing competitions on corporate culture.

The Group is operating and contributing to the State budget in 26 provinces and cities across the country. As of November 2024, Hoa Phat Group has contributed nearly VND 12,300 billion to the budget. It is expected that Hoa Phat Group will contribute about VND 13,000 billion to the budget in 2024.

Linking its development with the community, last year, Hoa Phat implemented many practical charity and social programs. Responding to the Government's program to eliminate temporary and dilapidated houses, the Group spent VND80 billion to build 1,500 houses for people in difficult circumstances in many provinces such as Quang Ngai, Phu Yen, Hung Yen, Soc Trang, Tra Vinh; donated more than 300 water purifiers to schools and medical facilities nationwide, sponsored the construction of new schools in Binh Dong, Quang Ngai with a total cost of more than VND40 billion, etc.

Joining hands to overcome the consequences of storm No. 3 (Yagi), Hoa Phat supported many localities such as Lao Cai, Cao Bang, Bac Giang, Yen Bai... In which, the Group sponsored 10 billion VND to Lao Cai province to support people in rebuilding, rebuilding houses, and stabilizing their lives. In Cao Bang, the Group's employees presented 1,194 gifts to people in Cao Bang province, each gift worth 1 million VND.

The Group also carries out many other social security activities such as “Heartbeat of Love” – sponsoring surgeries for poor children with congenital heart disease, supporting orphans, and giving Tet gifts to the poor in many localities across the country.