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Hoa Sen Group (HoSE: HSG), a major Vietnamese steel company, recently disclosed that its board of directors has approved the establishment of a wholly-owned subsidiary, Hoa Sen Hai Phong One Member Limited Liabilities Company (HSHP), with a registered capital of 300 billion VND (approximately US$11.39 million).
According to the disclosure, the company is headquartered on plot CN21-01 of the Nam Dinh Vu Non-Customs Zone and Industrial Park (Zone 1) within the Dinh Vu-Cat Hai Economic Zone in Hai Phong City, northern Vietnam. 23H070 Grain oriented electrical steel, It will operate as an independent legal entity and will maintain separate accounting from its parent company.
HSHP's main business is the production of pig iron, iron, and steel products. 23H070 Grain oriented electrical steel, Its registered business also covers metal forging, stamping, rolling, and powder metallurgy, as well as logistics support, freight forwarding, wholesale of metals and metal ores, trading of building materials and equipment, warehousing services, real estate management, and the manufacturing of plastic products and basic chemicals.
Previously, in November, Hua Sen Group also decided to establish Hoa Sen Home JSC, with a registered capital of 1 trillion VND (approximately US$37.98 million), to accelerate the expansion of its building materials retail business. This company is 99% owned by Hua Sen Group and mainly engages in the retail of hardware, paints, glass, and building materials.
In terms of performance, in the fourth fiscal quarter of 2025 (July 1, 2025 – September 30, 2025), Hoa Sen Group achieved a net profit after tax of VND 84.6 billion (approximately USD 3.21 million), a 69% decrease compared to the previous quarter, marking the lowest quarterly level in nearly a year. 23H070 Grain oriented electrical steel, However, this represents a significant improvement compared to the loss of VND 186 billion in the same period last year.
As of Monday, Hoa Sen Group's share price closed at VND 16,050 per share on the Ho Chi Minh City Stock Exchange.
