Hoa Sen Group (HSG) cancels treasury stock purchase, focuses on building 20,000 social houses and expanding retail sector

The annual general meeting of shareholders of Hoa Sen Group held on March 7, 2026, agreed to cancel the plan for treasury stock buyback and instead allocate funds for key projects, especially to develop 20,000 social houses in Ho Chi Minh City. HSG signed a cooperation agreement with the Ho Chi Minh City Labor Federation to implement this project in the 2026-2030 period. The group is also restructuring its building materials distribution sector, establishing Hoa Sen Home Corporation with a charter capital of 1 trillion VND, expected to increase to 3 trillion VND through stock issuance. HSG plans to expand its retail network, looking for 300 to 500 new locations. For financial targets, the group set two business scenarios with revenues ranging from 35 trillion to 37 trillion VND and post-tax profits from 500 billion to 600 billion VND for 2025-2026.