HPA successfully organizes the first shareholders' Annual General Meeting after listing, and plans to pay a 36% cash dividend in 2026

On 21/04/2026, in Hanoi, the 2026 Annual General Meeting of Shareholders (AGM) of Hoa Phat Agriculture Development Joint Stock Company (HPA) approved the 2026 revenue target of VND 7,200 billion and profit after tax of VND 1,005 billion. In Q1/2026, HPA recorded revenue of over VND 1,813 billion and profit after tax of VND 345 billion, fulfilling 34.3% of the annual profit target and 25.2% of the annual revenue plan. HPA expects to pay a total cash dividend of 36% in 2026, including the remaining 21% from 2025 and a projected 15% dividend advance for 2026.

The Meeting was attended by 91 shareholders and delegates, representing 267 million shares, accounting for 93.8096% of the total voting shares. The entire meeting agenda was approved with an approval rate of over 99%, including the 2025 business results, the 2026 plan, reports from the Board of Directors and the Supervisory Board, the 2025 profit distribution and dividend payment plan, the 2026 expected dividend rate, and the audited consolidated financial statements.

2025 profit exceeded plan by 22%, historically high capital efficiency

2025 marks the 10th year of Hoa Phat Group’s participation in the agricultural sector. HPA's revenue reached VND 8,326 billion, up 18% compared to 2024, fulfilling 104% of the plan. Profit after tax reached VND 1,600 billion, an increase of 55% year-on-year, exceeding the plan by 22%. ROE reached 34% and ROA reached 50%, the highest in history. HPA has become one of the leading efficient enterprises in the industrial livestock industry in Vietnam, holding the No. 1 position in importing and fattening Australian cattle, No. 1 market share in clean chicken eggs in the North, and ranking in the Top 10 for industrial-scale pig farming. The core advantage is the closed-loop model from breeding and animal feed to farms, helping to control approximately 70% of the entire chain's input costs.

In 2025, pig farming contributed 41% of revenue and 67% of profit after tax, with the ROE of this segment alone reaching 83%, the highest in the entire Group. Poultry saw the strongest breakthrough with profits increasing 59-fold due to recovering egg prices, while Australian cattle recorded a 52% revenue increase compared to the previous year.

Regarding animal feed, HPA produced 357,000 tons last year, of which approximately 50% was supplied internally to the farm system and 50% was sold to the market through over 600 distributors. Nutritional formulas are directly tested at internal farms before being released to the market. HPA is the first unit in Vietnam to successfully apply low-crude protein, high-amino acid diets, reducing environmental pressure while maintaining livestock efficiency.

Ms. Pham Thi Hong Van, General Director of HPA

Speaking at the meeting, Ms. Pham Thi Hong Van, General Director of HPA, stated: "In 2025, the livestock industry faced continuous epidemics and natural disasters, but HPA still maintained stable production and achieved impressive results. The key is that we maintained our herd scale; that is why HPA, despite its modest size, has superior output and profit indicators in the industry. This success does not come from luck but from methodical investment decisions from the beginning—from breeding and feed to farm infrastructure—and most importantly, a team of people who always maintain a proactive and continuous learning spirit."

Q1 profit reached VND 345 billion; 56.4% cash dividend approved for 2025

The 2026 business plan was approved by the meeting with revenue of VND 7,200 billion and profit after tax of VND 1,005 billion. According to Ms. Pham Thi Hong Van, the plan was built cautiously in the face of many unpredictable variables during the year; however, 2026 also offers several advantages for HPA with its established foundation in governance, infrastructure, and finance. Furthermore, food safety is prioritized, and the ban on preventive antibiotics has officially taken effect industry-wide. HPA, having pioneered this practice, remains unaffected.

In Q1/2026, HPA recorded revenue of over VND 1,813 billion and profit after tax of VND 345 billion. After just one quarter, HPA has completed 34.3% of the profit plan and 25.2% of the annual revenue plan for 2026. This result decreased slightly compared to the same period in 2025 because pig prices last year were high at VND 67,000 to 70,000 per kg, and output was lower due to herd restocking after the renovation of the Minh Duc farm. Currently, the planned pig price is set at VND 62,000 per kg, while the actual price on the meeting date is VND 66,000 per kg.

The Meeting also approved the 2025 dividend payment plan with a total rate of 56.4%, entirely in cash. In 2025, HPA distributed 35.464%, equivalent to nearly VND 947 billion. The remaining 21%, equivalent to VND 598.5 billion, will be paid in the coming period.

For 2026, the Board of Directors proposed an expected cash dividend rate of 30%, based on a profit after tax plan of VND 1,005 billion and charter capital of VND 2,850 billion, corresponding to an expected EPS of approximately VND 3,526 per share. It is expected that HPA will implement an advance of half of the 2026 dividend just approved by the meeting.

In the 2026-2030 period, HPA aims to increase the total sow herd to over 30,000 heads, achieving an annual output of 900,000 commercial pigs with an investment of approximately VND 1,000 billion. The third animal feed factory, with a capacity of 300,000 tons/year, is expected to commence construction in 2029 with an investment of about VND 500 billion, bringing the total system capacity to 1 million tons/year. The Australian cattle herd aims for a scale of 73,000 heads. By 2030, HPA targets revenue of over VND 12,000 billion, profit after tax of approximately VND 1,750 billion, and a maintained ROE of over 20%.

Digitalizing operations, aiming for the Top 50 best-governed listed companies

The discussion session at the meeting recorded detailed feedback from HPA leadership regarding the digital transformation roadmap, cost control capabilities, and market variable response strategies post-listing.

The discussion session at the meeting recorded detailed feedback from HPA leadership regarding the digital transformation roadmap, cost control capabilities, and market variable response strategies post-listing

Mr. Nguyen Viet Thang, CEO of Hoa Phat Group and Chairman of the BOD of HPA, stated: "Compared to HPG's scale of 300,000 shareholders, HPA currently has a smaller scale and has only been listed for a few months. Previously, because HPA's communication activities were part of the Group’s overall strategy, information was sometimes not updated fully or promptly for our valued shareholders. We acknowledge this and have worked with the Group’s IR department to enhance Hoa Phat Agriculture's communications more professionally in the coming period."

Mr. Nguyen Viet Thang, CEO of Hoa Phat Group and Chairman of the BOD of HPA

"Although the agricultural sector is not yet required to conduct greenhouse gas (GHG) inventories, since 2024, we have proactively implemented this for all member companies. By 2025, the company's GHG inventory report was officially confirmed by BSI. Currently, HPA is cooperating closely with consulting partners to implement a methodical ESG roadmap, in line with the Group's sustainable development direction," Mr. Thang added.

After officially listing on HOSE, HPA aims to enter the list of the Top 50 best-governed listed companies and strengthen investor relations to update information for shareholders and investors regularly.

Regarding operations, Ms. Nguyen Thi Thanh Van, Vice Chairwoman of the BOD, affirmed that HPA’s core advantage lies in its persistence in mastering 100% of high-yield pig genetics from Denmark. Although pig farming costs are currently at VND 45,000 per kg—up from VND 42,000 per kg at the time of the IPO due to rising input prices—the mortality rate from post-weaning to slaughter is only about 2%, significantly lower than the industry average.

Ms. Nguyen Thi Thanh Van, Vice Chairwoman of the BOD

Ms. Pham Thi Hong Van, General Director of HPA, stated that despite sharp fluctuations in global agricultural prices due to Middle East tensions since March, HPA still maintained a stable growth rate thanks to its rolling purchase and buffer inventory strategy. The company's gross profit margin for 2026 is projected to remain at 20-21%. Specifically, the pig farming segment is expected to reach 29%, animal feed 14.9%, cattle 6.6%, and poultry 4.1%.

Ms. Pham Thi Hong Van, General Director of HPA

"The industry is shifting strongly towards large-scale farms, which currently account for about 55-56% and have a 5-year cycle, with the next peak predicted in 2030. Epidemics are not yet fully controlled nationwide; this is both a challenge and an opportunity for units that control biosecurity well," Ms. Van added.

HPA says no to high-risk external farm leasing, only building new farms to ensure legal compliance and biosecurity. The Long Ha 2 farm, with a capacity of 46,800 pigs per batch, is expected to start sales at the end of this year, contributing to a total pork output of 340,000 heads in 2026. New farms in the roadmap to 2030 will begin stocking between 2027 and 2028.