Pyn Elite Fund continues to increase ownership of Ha Do (HDG) to 7.19%

VHO - Pyn Elite Fund (Non-Ucits), a major shareholder of Ha Do Group Corporation (stock code: HDG) has just announced that it has purchased more than 1.44 million HDG shares, while a few days earlier, this shareholder had purchased more than 2 million shares.

Pyn Elite Fund has just announced that it has purchased more than 1.44 million HDG shares. Illustrative photo

The transaction was made on July 28 via the stock exchange, helping Pyn Elite Fund increase its ownership of Ha Do from more than 25.1 million shares (6.8%) to more than 26.58 million shares (7.19%).

Previously, on July 24, this foreign fund bought 2 million HDG shares with an estimated value of more than VND56 billion, thereby increasing its ownership of HDG to 6.8%.

Major shareholders continuously want to increase their holding ratio despite HDG's not-so-positive business situation.

Regarding business performance, according to the consolidated financial report for the second quarter of 2025, Ha Do recorded net revenue of nearly VND 583.8 billion, an increase of 6.2% over the same period last year. After deducting cost of goods sold, gross profit reached more than VND 254 billion, a decrease of 3.4%.

During the period, the company also earned more than VND19.9 billion in revenue from financial activities, an increase of 158.4% over the same period last year. In the same direction, financial expenses increased from VND104.5 billion to VND154.8 billion; sales expenses increased by 40%, at more than VND1.3 billion; business management expenses were nearly VND77.4 billion, an increase of 45.8%.

Ha Do added that during the period, the Company had to re-evaluate the loan for project 7A, leading to a loss in exchange rate differences, and at the same time set aside a difference in electricity selling price at the Hong Phong 4 solar power project, causing second quarter profits to decrease.

As a result, after deducting taxes and fees, the company reported a net profit of nearly 34 billion VND, down 65.5% over the same period last year.

In the first 6 months of 2025, Ha Do brought in net revenue of nearly VND 1,182.4 billion and profit after corporate income tax of more than VND 240.9 billion, down 15.4% and 33.6% respectively compared to the first 6 months of 2024.

By 2025, Ha Do Group aims to achieve consolidated revenue of VND 2,936 billion and profit after corporate income tax of VND 1,057 billion.

Thus, at the end of the first two quarters of 2025, the enterprise has achieved 40.3% of the revenue plan and 22.8% of the after-tax profit plan.

As of June 30, 2025, Ha Do's total assets increased by 3.6% compared to the beginning of the year, reaching nearly VND 14,350.3 billion. Of which, fixed assets recorded more than VND 8,301.1 billion, accounting for 57.8% of total assets; inventories were nearly VND 882.5 billion; long-term unfinished assets were more than VND 1,742.8 billion.

On the other side of the balance sheet, total liabilities are at over VND6,593.5 billion, an increase of VND120 billion compared to the beginning of the year. Of which, loans and financial leasing debts are nearly VND5,013.3 billion, accounting for 76% of total assets.

Compared to the 2025 net profit target of VND 1,057 billion, in 6 months, HDG has achieved about 23% of the annual profit target.

Source: https://baovanhoa.vn/kinh-te/pyn-elite-fund-tiep-tuc-tang-so-huu-ha-do-hdg-len-719-159254.html