Bau Duc's daughter increases ownership in Hoang Anh Gia Lai to 13 million shares

Bầu Đức's daughter increases her ownership in Hoàng Anh Gia Lai to 13 million shares.

Ms. Doan Hoang Anh, daughter of Mr. Doan Nguyen Duc, Chairman of the Board of Directors of Hoang Anh Gia Lai, has just spent approximately 21 billion VND to buy an additional 2 million shares, increasing her total ownership to 13 million shares.

In a notice sent to the State Securities Commission and the Ho Chi Minh City Stock Exchange (HoSE) on the morning of September 19, Ms. Doan Hoang Anh announced that she had purchased 2 million Hoang Anh Gia Lai shares between August 20 and September 18. These shares were executed by order matching method.

Based on the closing price of HAG shares on September 18th (10,550 VND), the amount spent by Mr. Duc's daughter to acquire 2 million shares is approximately 21 billion VND. After the transaction, Ms. Hoang Anh increased her personal ownership stake in Hoang Anh Gia Lai from 1.04% (11 million shares) to 1.23% (13 million shares).

Ms. Hoang Anh's purchase of shares took place amidst a decline of approximately 30% from HAG's highest price of the year (15,000 VND). The average trading volume over the last 10 sessions was around 4 million units. Market capitalization reached 11,155 billion VND.

Since the beginning of the year, the daughter of Chairman Duc has frequently traded HAG shares. Specifically, in mid-January, she bought 1 million shares for 13.7 billion VND, increasing her ownership stake from 1.08% to 1.19% of the charter capital. Less than a month later, she sold 2 million HAG shares, reducing her ownership to 0.97%. Then, on May 9th, she registered to buy another 2 million HAG shares worth 26.9 billion VND, raising her ownership stake to 1.04% of the charter capital.

The company's stock remains under warning status due to accumulated losses. Previously, the company stated it would continue to implement restructuring measures. The financial strategy aims to further reduce outstanding bank debt , lower interest expenses, and maintain stable cash flow for business operations amidst challenging market conditions.

Regarding investment plans , the company will plant an additional 2,000 hectares of bananas to bring the total area to 9,000 hectares, and an additional 500 hectares of durian to bring the total planted area to 2,000 hectares. There is no mention of expanding pig farming.

The leadership of Hoang Anh Gia Lai is confident that its business operations will achieve many positive results in the coming period, gradually reducing and eliminating accumulated losses, and overcoming the causes that led to its stock being placed on the warning list.

Hoang Anh Gia Lai recorded net revenue of VND 1,518 billion in the second quarter of 2024, an increase of 4.8% compared to the same period last year. The company's main source of revenue came from fruit trading, with approximately VND 1,116 billion, double that of the same period. The remainder came from the sale of pigs, other products and goods, and the provision of services.

Gross profit during this period reached VND 488 billion, 2.8 times higher than VND 176 billion in the same period last year, corresponding to a gross profit margin of 32.1%. According to Mr. Nguyen Xuan Thang, General Director of Hoang Anh Gia Lai, this result stems from a strong increase in banana exports.

After deducting all expenses, the company reported a net profit of nearly 281 billion VND, 3.4 times higher than the 82 billion VND profit of the same period last year, thus extending its streak of consecutive profits from Q2/2021 to the present.

For the first half of the year, Hoang Anh Gia Lai recorded net revenue of VND 2,759 billion, a decrease of 12.3% compared to the same period last year. Gross profit reached VND 986 billion, while it was only over VND 628 billion in the same period last year. The gross profit margin for the first half of the year reached 35.7%, a significant increase compared to 20.2% in the first six months of 2023. After deducting expenses, the company reported a pre-tax profit of VND 486 billion and an after- tax profit of VND 507 billion, both increasing by 31% compared to the same period last year.

Hoang Anh Gia Lai plans to achieve revenue of VND 7,750 billion this year, a 20.3% increase compared to the same period last year, and projected after-tax profit of VND 1,320 billion, a 25.9% decrease compared to 2023. This means the company has completed 35.6% of its revenue target and 38.4% of its profit target after half a year.

As of the end of the second quarter, the company had consolidated total assets of approximately VND 21,560 billion, an increase of VND 657 billion compared to the beginning of the period. Long-term liabilities accounted for over VND 13,232 billion in the company's asset structure. Liabilities also decreased significantly compared to the beginning of the period, from VND 14,226 billion to VND 13,127 billion. Approximately VND 9,097 billion of Hoang Anh Gia Lai's liabilities were short-term.

The company's equity currently stands at VND 8,433 billion, an increase of over VND 1,756 billion compared to the beginning of the year. Accumulated losses currently amount to approximately VND 904 billion, marking the first time in five years that they have fallen below VND 1,000 billion.

Source: https://baodautu.vn/con-gai-bau-duc-tang-so-huu-tai-hoang-anh-gia-lai-len-13-trieu-co-phieu-d225326.html