“Earthquake” of Hòa Phát shares: Nearly 6 trillion VND traded in one session, unprecedented in history

The Vietnamese stock market witnessed record liquidity with nearly 73 trillion VND traded, with Hòa Phát (HPG) shares alone trading 216 million units, valued at over 5.7 trillion VND. Foreign investors were active, buying over 40 million shares. Despite failing to maintain the ceiling price, HPG still rose by 4.35%. Nearly 3% of Hòa Phát’s circulating shares changed hands. It is now the largest non-financial enterprise on the stock exchange, with a charter capital of 76.755 trillion VND, surpassing many major banks. At the end of July, about 1.3 billion newly issued shares were unlocked, raising the total number of circulating shares to 7.67 billion. In Q2, Hòa Phát reported a revenue of 36.286 trillion VND, down 9% year-on-year, but its after-tax profit rose by 28% to 4.265 trillion VND, the highest in nearly three years. In the first half of the year, it recorded total revenues of 74 trillion VND and after-tax profits of 7.6 trillion VND, fulfilling 43% of the revenue plan and 51% of the profit targets. With ambitious business strategies, Hòa Phát aims for a revenue of 170 trillion VND, a 21% increase year-on-year.