Hoà Phát Group (HPG) has announced an explanation regarding the discrepancy in after-tax profit between the audited year 2024 and the previous year 2023. According to the report, HPG’s after-tax profit in 2024 decreased compared to the previous year due to several factors. Notably, the increase in input raw material prices significantly impacted the company’s profit margins. Moreover, the domestic steel market situation was also unfavorable, leading to a decrease in sales volume. HPG has implemented measures to optimize production costs and boost sales, but has not yet achieved the desired results. The company is committed to improving its business operations and has outlined sustainable development strategies for the future. HPG plans to invest in technology upgrades and market expansion to stabilize profits, as well as enhance financial management to mitigate economic risks.
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