GTJASVN_HPG EquityReport_ Update AGM 2026_April 21 2026_en

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GTJASVN_HPG EquityReport_ Update AGM 2026_April 21 2026_en

24/04/2026

KEY HIGHLIGHTS

· At the meeting, Chairman Tran Dinh Long announced the Q1 2026 results, highlighting strong growth in HRC sales volume (driven by increased capacity following the commissioning of Dung Quat 2). Management also expressed a positive outlook, supported by continued acceleration in public investment this year.

· Export performance remained resilient despite Vietnamese steel products facing a 50% tariff in the U.S. However, the Group continues to prioritize the domestic market over exports.

· Other business segments, including agriculture and household appliances, continued to be expanded and delivered solid performance.

· Regarding the 2025 profit distribution plan, the Group proposed a total dividend payout of 15%, comprising 10% in stock and 5% in cash.

ASSESSMENT

HPG is currently in a recovery phase of the steel cycle, with trade protection policies and strong public investment driving its growth outlook. The HRC segment plays a core role, while expansion projects such as Dung Quat and Phu Yen are expected to strengthen the Group’s long-term position.

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