On August 15, Ms. Doan Hoang Anh, daughter of Mr. Doan Nguyen Duc (Bau Duc), Chairman of the Board of Directors of Hoang Anh Gia Lai Group Joint Stock Company (HAGL - stock code HAG) announced a stock transaction.
Accordingly, Ms. Doan Hoang Anh announced the registration to buy 2 million more HAG shares with the aim of increasing the ownership ratio of HAG shares from 11 million shares to 13 million shares, with the ownership ratio of HAG increasing from 1.04% to 1.23%. The expected implementation time is from August 20 to September 18 in the form of agreement or order matching.
With HAG's price on August 15 being more than 10,000 VND/share, if the transaction is successful, Ms. Doan Hoang Anh will have to spend more than 20 billion VND to increase her ownership ratio of HAG.
Compared to 3 months ago, HAG stock price has decreased by more than 32%, from 15,000 VND to 10,050 VND/share.
Bau Duc introduces durian
HAG's Q2/2024 financial report showed net revenue of VND 1,518 billion, up 5% over the same period last year, gross profit of VND 488 billion, up 177%; gross profit margin of 32.1%, a sharp improvement compared to 12.2% over the same period.
After deducting expenses, HAGL reported a profit after tax of VND281 billion, 3.4 times higher than the same period last year. In the first 6 months of the year, HAGL's accumulated revenue reached VND2,759 billion, down 12% compared to the same period last year. However, profit after tax reached VND507 billion, up 32%.
In addition, HAGL has just completed the private offering of shares and raised VND1,300 billion, increasing its charter capital to VND10,574 billion. The company has paid the principal and interest of VND300 billion of bonds issued on June 18, 2012, due September 30, 2025. At the same time, it has restructured the debts of its subsidiaries, reducing interest expenses. From this result, HAGL only has an accumulated loss of VND904 billion.
Mr. Duc also said that in the first 6 months of 2024, HAGL increased the durian area from 1,500 hectares to 1,947 hectares, while the banana area remained at 7,000 hectares.
This year, HAGL sets a revenue target of VND7,750 billion, up 20% over the same period; after-tax profit is VND1,320 billion, down 26% over the same period.
Recently, Hoang Anh Gia Lai Hotel (Pleiku City - Gia Lai) was also announced to be "in the hands" of Muong Thanh Group after being sold to another unit.
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