Hòa Phát's financial debt rose by more than 13,000 billion VND from the end of last year to 105,736 billion VND, its highest level ever, mainly through short-term borrowings. Interest expenses for the period reached 1,774 billion VND, more than double the same period last year, amid an average bank lending rate of 10.7% in August. Its financial position remains healthy, with owners' equity of 149,568 billion VND (up 14%) and cash and deposits of 46,273 billion VND. In Q3, revenue reached 62,669 billion VND, 2.3 times the year-earlier level, with steel sales making up about 96%; after-tax profit was 8,265 billion VND, up 106% from Q3 2025. The steel rail plant project is about 80% complete, with the first product expected to come off the line in Q1 next year.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Nợ vay của Hòa Phát lần đầu vượt 100.000 tỷ đồng
Read the original on VnExpress ↗
Keywords
HPGinterest ratessteelearnings
Open a keyword to see other news on the same topic.
Related tickers and likely impact
HPG
▼ Likely negativeHoa Phat Group
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Basic Resources |
| Industry | Steel |
| Market cap | 175,192 bn VND |
| P/E | 7.5 |
| P/B | 1.25 |
| Close on 10/29/2026 | 21.20 |
| Change that session | +2.17% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Series of Steel Companies Report Big Profits in Third Quarter of 2026
A series of steel companies reported sharply higher profits for the third quarter of 2026. TISCO (TIS) posted net revenue of VND 3,842 billion, up nearly 39%, and swung to a net profit of over VND 4 billion from a VND 12 billion loss a year earlier; its nine-month profit reached nearly VND 28 billion versus a loss of nearly VND 7 billion in the prior year. Thép Thủ Đức – VNSTEEL (TDS) reported net profit of nearly VND 3 billion, up 75%, with gross margin rising to 3.3%. Thép Tấm lá Thống Nhất (TNS) saw quarterly revenue fall 31%, yet net profit reached nearly VND 10 billion, up over 870%, as it shifted toward higher-margin products and cost of goods fell faster than revenue.
- A National Economics University alumnus gains 1,700 billion VND in just a few days
Hòa Phát chairman Trần Đình Long, a National Economics University graduate, gained over 1,700 billion VND in the past week as HPG shares rose nearly 4% to 20,900 VND per share. His wealth reached nearly 45,600 billion VND, and Forbes puts his fortune at US$2.3 billion, making him the fifth-richest person in Vietnam. He directly holds about 2.18 billion shares (25.8%), and his family owns more than 35.4% of the company. His son, Trần Vũ Minh, registered to buy 50 million HPG shares between October 7 and November 5, 2026 to raise his stake, although he holds no management position at Hòa Phát. The company targets 2026 revenue of 210,000 billion VND and after-tax profit of 22,000 billion VND, up 35% and 42% year-on-year respectively.
- Relative of Hòa Phát leader sells shares as registered
Ms. Doãn Thị Bích Ngọc, elder sister of Hòa Phát Vice Chairman Doãn Gia Cường, sold 350,000 HPG shares as registered between 9 and 14 October 2026, reducing her holding from 564,696 to 214,696 shares. Conversely, Mr. Trần Vũ Minh, son of Chairman Trần Đình Long, has registered to buy 50 million more HPG shares from 7 October to 5 November 2026 to raise his stake; under an earlier registration he bought nearly 33.3 million shares, with the rest not completed due to unsuitable market conditions. Operationally, Hòa Phát produced 3.7 million tonnes of crude steel in Q3 2026, up 3% from Q2, and 10.7 million tonnes in the first nine months, up 35%.
- Nearly 5 months without an uptrend for HPG, steel sector also stuck in a 'low zone'
- Steel Stocks Surge Unexpectedly in Early-Week Session as VN-Index Loses More Than 14 Points
In the session of October 12, steel stocks unexpectedly rallied, with NKG up 6.89%, HSG up 3.54% and HPG up 2.99%, while selling pressure in real estate, oil and gas, and fertilizer pushed the VN-Index down 14.11 points to 1,720.98. Money shifted into steel, banks and construction, while PNJ reversed to fall 6.92% to 18,150 dong after an earlier limit-up session. Even after the Asian Institute of Gemology and Sciences (AIGS) reported that 100% of PNJ's sampled diamonds were natural, the stock was heavily sold. Foreign investors were net sellers of over 600 billion dong across the market, most heavily in TCB, while HPG drew the largest net buying at more than 128 billion dong.
- Hoa Phat sells over 10.3 million tonnes of steel in nine months, up 39% year on year
In Q3 2026, Hoa Phat produced 3.7 million tonnes of crude steel, up 3% from the previous quarter, and sold 3.8 million tonnes of steel, billet and HRC combined, up 8% quarter on quarter and 54% year on year. For the first nine months of 2026, total sales exceeded 10.3 million tonnes, up 39% from a year earlier, with HRC sales of 5.47 million tonnes, up 59% and accounting for more than half of total volume. Exports made up 24.6% of HRC volume, and the product has been shipped to 26 countries and territories. Construction steel and high-quality wire rod sales for the nine months topped 4 million tonnes, up 15%, while billet volume rose 69% to 811,000 tonnes. The company's crude steel capacity is 16 million tonnes per year, the largest in Southeast Asia, and over 60% of its output is high-quality steel.
Related markets
Latest news
- Facing Pham Nhat Vuong on home turf: what opportunity for Elon Musk?
Tesla Motors Vietnam Co., Ltd. was registered in Ho Chi Minh City on September 11, 2026, with charter capital of about 77.7 billion VND (roughly US$3 million), according to business registration records, while Tesla has not announced models, prices, showrooms or launch timing. Analysts see the entity as serving imported vehicle sales and after-sales service, with no sign of local assembly. VinFast holds about 92% of Vietnam's EV market share, according to HSC Securities cited by CNBC, backed by its showroom, service and charging network. Model 3 and Model Y are expected to be the first models, initially targeting high-income buyers. Starlink, SpaceX's satellite internet service, was licensed in February 2026 and began selling in mid-August 2026, with family plans from about 1.13 million VND per month.
- Amazon.com Q3 Earnings Call Highlights
Amazon reported third-quarter revenue up 12% to $201.9 billion and operating income up 61% to $28.1 billion, with a record 13.9% operating margin. AWS revenue reached $46 billion, up 39.3%, with a $578 billion backlog, and management expects AWS growth above 40% in 2027 and 2028, driven by AI infrastructure, Bedrock and custom chips. Capital expenditures were $75.9 billion in the quarter and are expected to total about $220 billion in 2026, with further increases in 2027. Amazon forecast fourth-quarter net sales of $240 billion to $247 billion and operating income of $28.5 billion to $33.5 billion. North America revenue rose 6% to $112.9 billion, while management highlighted faster delivery and grocery expansion.
- Semiconductor Sell-Off: The 1 AI Chip Stock I'd Buy and 1 I'd Avoid
The article argues a semiconductor sell-off may offer a chance to join the AI boom at a lower price, but not every chip stock is equally suited. Broadcom (AVGO) is viewed positively for AI semiconductor revenue up 221% year over year in fiscal Q3 2026, driven by custom accelerators and AI networking, and a forward P/E of about 18 that the author finds attractive. Its key risk is reliance on a small group of large customers. Intel (INTC) is described as in a turnaround, investing in its Intel 18A process and Intel Foundry, but its forward P/E of about 51 leaves less room for disappointment if execution falls short. The author concludes Broadcom is the stronger choice for investors seeking AI growth at a reasonable price.
- Binance hack may involve private key 'misuse,' not theft: Blockaid CEO
Blockaid CEO Ido Ben-Natan preliminarily assesses that attackers may have manipulated Binance's transaction-signing infrastructure rather than stealing private keys, with similarities to the February 2025 Bybit hack. In Blockaid's onchain analysis, the attacker bundled 50 EIP-7702 authorizations into one transaction targeting Binance 14, delegating the affected account to an unverified sweeper contract. Binance has not confirmed the method used to steal over $2.5 billion in crypto, which is described as the largest crypto hack in history. Ben-Natan said the activity may have involved multiple compromised devices, though this is unconfirmed, and its sophistication resembles operations linked to North Korean attackers.
- Is Alphabet Stock a Buy After Its Post-Earnings Drop?
Alphabet shares fell about 10% in after-hours trading on October 28, despite third-quarter revenue up 25% to $127.6 billion and Google Cloud revenue more than doubling. Earnings per share fell to $2.12 from $2.87, and free cash flow was negative for a second straight quarter as capital spending rose to $51.4 billion. The author argues the EPS decline looks worse than it is: excluding investment gains and losses, EPS rose about 22% to about $2.67, and Google Cloud revenue grew 103% to $30.7 billion. However, the operating margin fell to 31.8%, and the 2026 capex outlook of $195 billion to $205 billion points to continued heavy spending. The author says the stock at about 19 times expected 2027 earnings looks reasonably priced, though free cash flow may worsen before it improves.
- Nasdaq 100 Futures Dip On Weak Intel, Amazon Earnings With Bloated Capex Worries Weighing On Sentiment — AMZN, INTC, SBUX, PLTR, ASTS In Focus
U.S. stock indices closed lower on Thursday and extended declines after hours as Amazon's bloated capital expenditures fed investor fears that the AI capex cycle may have gotten ahead of itself. During the session, the Nasdaq 100 fell 1.4% and the S&P 500 lost 0.3%, while the Russell 2000 gained 1%. Amazon (AMZN) shares dropped about 7% after hours after it spent upwards of $77 billion on property and equipment in the third quarter, producing a free cash outflow of $42.4 billion, even as revenue rose 12% to $201.9 billion. Intel (INTC) shares tumbled about 17% after hours after it forecast weaker-than-expected fourth-quarter revenue and earnings amid a PC sales slump and supply bottlenecks. On the other side, JPMorgan turned bullish on Palantir (PLTR), forecasting a stock rally of more than 30%.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.