Viettel grows by double digits; HAGL Agrico clears debt with HAGL; Thien Long ballpoint pen earns more than 1.3 billion VND in profit per day
HAGL Agrico clears debt with HAGL; TNG estimates highest net profit in 2024 in 20 years; Thien Long ballpoint pen earns more than 1.3 billion VND per day; Viettel grows by double digits in 2024; Vinafood II sets 2025 revenue target of nearly 17,700 billion VND.
Viettel double-digit growth in 2024
According to information from Viettel Group, the Group's consolidated revenue in 2024 is 190,000 billion VND, completing 103% of the plan, growing 10.3% - the highest growth rate in the industry.
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| In 2024, Viettel will pay the State budget 44.3 trillion VND, an increase of 17% compared to 2023. |
Pre-tax profit reached 51,000 billion VND, 111% of the plan, up 11.3%.
Viettel paid 44,300 billion VND to the State budget, up 17%. The average income of employees in the whole Group increased by 6%.
The Group's growth drivers come from maintaining domestic telecommunications growth, developing international business, successfully researching, manufacturing and commercializing high-tech products, developing logistics, cybersecurity, AI and digital technology , etc.
In particular, 2024 marks a leap forward when many high-tech products, from strategic weapons to civilian equipment of Viettel, have been officially put into commercial exploitation and business. Viettel has the first export contracts worth millions of USD.
Hoa Phat wants to develop 3 new industrial parks
According to information from Hoa Phat, the Dung Quat 2 Iron and Steel Complex project is ready to enter the testing phase from the beginning of the first quarter of 2025.
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| Hoa Phat becomes one of the leading steel manufacturers in Southeast Asia. |
Phase 2 is expected to be completed by the end of 2025.
When the project is completed, Hoa Phat's crude steel production capacity will reach 14.5 million tons per year, including 8.6 million tons of high-quality HRC steel. This scale will make Hoa Phat one of the leading steel producers in Southeast Asia.
Along with developing steel production, Hoa Phat also owns a large land fund for industrial zones. Currently, the "steel king" has a total planned land fund of more than 1,133 hectares in Hung Yen and Ha Nam.
Pho Noi A Industrial Park (Hung Yen) has attracted 164 domestic and foreign enterprises, reaching an occupancy rate of 95%. Phase 2 of the Yen My II Industrial Park expansion has completed site clearance with an occupancy rate of nearly 50%. In particular, the Group is implementing a 31-hectare social housing project in Yen My II Industrial Park to meet the housing needs of workers.
Hoa Phat Group is carrying out investment procedures to develop 3 more industrial parks in the near future.
Thien Long ballpoint pen earns more than 1.3 billion VND per day
According to the preliminary business report for the first 11 months of 2024, Thien Long Group Corporation's revenue is estimated at VND 3,470 billion, up 6% over the same period last year, achieving 91% of the yearly plan.
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| Thien Long Group's export revenue reached 925 billion VND. |
Of which, the domestic market brought in VND2,545 billion in revenue, up 2%; export revenue increased sharply by 21%, to VND925 billion. Gross profit margin reached 44.52%, an improvement compared to 43.79% in the same period.
After deducting expenses, profit after tax for 11 months is estimated at VND 448 billion, up 24% over the same period in 2023 and exceeding the annual profit target by 18%.
On average, Thien Long ballpoint pen company makes a profit of more than 1.3 billion VND/day.
In November alone, after-tax profit plummeted 64% year-on-year to VND5 billion, mainly due to seasonal factors. Normally, Thien Long's peak business period falls in the second and third quarters, while the fourth quarter is the low season.
In order to expand into the retail sector, in mid-December 2024, the Board of Directors of Thien Long Group Corporation decided to contribute an additional VND 270 billion to Tan Luc Mien Nam Trading and Service Company Limited. After completion, Tan Luc Mien Nam's charter capital will increase from VND 80 billion to VND 350 billion (4.4 times), continuing to be a subsidiary 100% owned by Thien Long.
HAGL Agrico clears debt with HAGL
Hoang Anh Gia Lai International Agriculture Joint Stock Company (HAGL Agrico) reported that it has paid all debts according to the agreement and has no more debts with Hoang Anh Gia Lai (HAGL) - the company of Mr. Duc - Mr. Doan Nguyen Duc.
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| HAGL Agrico will receive assets of more than 32,500 hectares of industrial crop land. |
HAGL Agrico has completed paying VND4,228 billion under the tripartite commitment agreement with BIDV and Hoang Anh Gia Lai (HAGL). Of which, the Company paid the direct loan to BIDV of VND2,094 billion and paid the debt to HAGL related to the bond lot with code HAGLBOND16.26 of VND2,314 billion.
In return, HAGL Agrico will receive assets in 4 installments, totaling more than 32,500 hectares of industrial crop land, including more than 8,500 hectares of oil palm and more than 24,000 hectares of rubber.
In the first phase, the Company will receive land use rights and exploitation rights for 5,357 hectares of oil palm on an area of 9,470 hectares; offices, oil palm factories, and thermal power plants owned by HA Andong Meas.
Phase 2, receiving land use rights and exploiting 9,231 hectares of rubber and more than 9,996 hectares of oil palm in Attapeu province, Laos.
Phase 3, receiving land use rights and exploiting 4,733 hectares of rubber and 3,155 hectares of oil palm in Attapeu province of Hoang Anh Attapeu Company.
In the fourth phase, HAGL Agrico said it is in the process of completing procedures with BIDV to receive back assets such as land use rights and rubber exploitation rights on an area of 4,852 hectares owned by HA Quang Minh, land use rights and rubber exploitation rights on an area of 1,960 hectares owned by Heng Brother Company Limited and land use rights and rubber exploitation rights on an area of 3,283 hectares owned by CRD Company Limited.
HAGL Agrico was formerly Hoang Anh Gia Lai Rubber Joint Stock Company, then transferred to the company of billionaire Tran Ba Duong - Chairman of Thaco Group.
TNG estimates highest net profit in 2024 in 20 years
TNG Investment and Trading Joint Stock Company (TNG) has announced its 2024 performance report.
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| The US continues to be TNG's largest export market. |
Accordingly, TNG's revenue is estimated at VND 7,736 billion and net profit at VND 315 billion, up 9% and 44% respectively compared to 2023. These are all record numbers since the Enterprise announced information in 2005. In particular, revenue has broken new records for 5 consecutive years.
With the above results, although the annual revenue plan (reaching 98%) has not been completed, TNG still exceeded 2% of the profit target assigned by the General Meeting of Shareholders.
In terms of 2024 revenue, export revenue contributed up to 97% of the Company's total revenue, of which the US continued to be the largest market (49.85%), followed by France (12.94%); Spain (6.67%); Canada (5.98%)...
By the end of 2024, TNG's workforce will reach 19,200 people, up from 18,000 people at the end of 2023.
Vinafood II sets 2025 revenue target of nearly 17,700 billion VND
Based on positive 2024 results, Southern Food Corporation - JSC (Vinafood II) sets a 2025 target of VND 17,695 billion in revenue and VND 107 billion in pre-tax profit.
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| Vinafood II sets a target of 2025 with revenue of 17,695 billion VND and pre-tax profit of nearly 107 billion VND. |
That was one of the key contents reported by Mr. Tran Tan Duc, member of the Board of Directors and General Director of Vinafood II, at the Summary Conference.
Accordingly, although the Mekong Delta faces many unfavorable conditions such as drought and saltwater intrusion in the 2023-2024 Winter-Spring crop, heavy rains and storms at the end of the Summer-Autumn crop and the beginning of the Autumn-Winter crop, the productivity and output of the entire Corporation in 2024 will increase compared to 2023.
Regarding the main items, the output of purchased rice was about 1.3 million tons, exceeding the plan by 34%; the amount of rice sold was more than 1.2 million tons, exceeding the yearly plan by 31%.
Other indicators such as export turnover, total revenue, pre-tax profit, and payment to the State budget all exceeded the plan. Notably, the import-export turnover and total revenue indicators had strong growth, reaching more than 135% and 120% of the plan, respectively.
Based on the total revenue target of 2024 of 17,105 billion VND, it is estimated that Vinafood II's total revenue for the whole year will reach nearly 20,600 billion VND.
Based on the positive results achieved in 2024, Vinafood II sets a target of 2025 with revenue of VND 17,695 billion and pre-tax profit of nearly VND 107 billion. Regarding the main product targets, the expected rice purchase volume is 985 thousand tons; the rice sold volume is 985,000 tons (including 743,000 tons for export and 242,000 tons for domestic use). The target export turnover is 449.8 million USD.
Formerly a state-owned enterprise, Vinafood II was once the largest rice producer in the country. However, after equitization in 2018, the company faced crises related to the violations of the old leadership, and suffered consecutive years of business losses.
VinaFood II only returned to a net profit of more than VND 23 billion in 2023 and continued to make a profit of nearly VND 3 billion in the first 9 months of 2024. However, the accumulated loss as of September 30, 2024 was more than VND 2,790 billion.
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