Billionaire Tran Dinh Long’s ‘Strange’ Move with Hoa Phat Agriculture After Half a Year Reporting Profits of Thousands of Billions

Hoa Phat Agricultural Development Joint Stock Company (Hoa Phat Group) has made unexpected adjustments in its production and business activities. In July 2025, the company reduced its charter capital from 2,800 billion to 2,550 billion VND and cut the number of business sectors from 49 to 29. Meanwhile, other livestock operations also underwent capital changes, with Hoa Phat Livestock Development JSC lowering its charter capital from 1,200 billion to 1,000 billion VND. Despite its modest capital scale, Hoa Phat’s agriculture sector reported revenues of 7,081 billion VND with profits of 1,038 billion VND, showing significant increases compared to 2023. In the first half of 2025, revenues reached 4,227 billion VND, a 38% increase, with pre-tax profits reaching 1,025 billion VND, up 129%. Although having lower capital than other livestock companies like Dabaco and BAF, Hoa Phat’s profits rank second, trailing Dabaco by only 48 billion VND. The group officially entered the agricultural sector in 2015 and is now one of the largest suppliers in the industry.