Hai Phat Invest officially listed on HOSE, 2018 profit plan is definitely achieved
Hai Phat’s Board of Directors affirmed the plan of 450 billion dong after tax profit for the whole year will be definitely achieved, the profit will fall in the fourth quarter and the third quarter only records a part.
This morning (24/7), Hai Phat Investment Joint Stock Company officially listed 150 million shares on the Ho Chi Minh Stock Exchange (HOSE) with the stock code HPX. Accordingly, Hai Phat became the 59th real estate enterprise on the stock exchange and the 450th listed organization on HOSE.
Reference price in the first session is 26,800 dong / share, the amplitude is 20%. After 30 minutes of the first trading session, HPX shares recorded a price of 28,000 VND/ share, an increase of 4.5% compared to the reference price.
Mr. Do Quy Hai, Chairman of Hai Phat Invest board struck the gong to list
Mr. Vu Huu Dien, Managing Director of Dragon Capital Investment Fund, foreign shareholders hold 15% of Hai Phat Invest’s capital, said HPX is a new and attractive stock in the market. In the next 3 years, the expected growth rate is about 30-60% per year compared to the P / E listing price, only 9 times.
In addition, Hai Phat Invest is a new company, the foreign ownership rate (room) is only 15%, the investment room is very large. While companies of similar size like Khang Dien, Dat Xanh, Ha Do are full of rooms. The company also has relatively good competitiveness from searching project, construction organization, sales organization, legal completion, and strong leadership team.
Mr. Dien rated Hai Phat Invest listed in the current time as appropriate, when the stock market is recovering, macro, real estate is stable.
Hai Phat Invest has a chartered capital of 1,500 billion VND, operating in the field of real estate, managing real estate exploitation after investment (renting office, trade centers, transaction facilities …). In the period 2016-2017, Hai Phat Invest’s after-tax profit achieved a double growth of 196%, from 166 billion VND at the end of 2016 up to over 325 billion VND, of which the average ROE was nearly 18%.
The clean land fund that the company currently has is about 400 hectares, of which 158 hectares of land are created from the previous period, the rest is at the end of this year, after Hai Phat Invest has completed some key works on infrastructure. In particular, these projects are large-scale, prime locations located in many different provinces such as Hanoi, Nha Trang, Da Nang, Hoi An, Binh Thuan, Nam Dinh, Bac Ninh, Thai Binh …
Mr. Doan Hoa Thuan, Deputy General Director of Hai Phat Invest shared, the long-term plan that Hai Phat Invest aims to expand investment strategy to the segment of industrial real estate and resort real estate. For the next 5 years’s target, Hai Phat Invest will accumulate land fund stretching from North to South with an area of about 10,000 ha, through various forms such as cooperating with public-private partners, auction, bidding and deloying project …
In 2018, Hai Phat Invest sets a net revenue target of 3,200 billion VND, double the previous year; after-tax profit is 320 billion VND, increase 41%. Accumulated in the first 6 months of the year, the company expects to achieve after-tax profit of 180 billion VND. The representative of the company’s management affirmed the plan of 450 billion dong after tax profit for the whole year will be definitely achieved, the profit will fall in the fourth quarter and the third quarter only records a part.
Plan to 2020, Hai Phat expects that net revenue will reach 5,500 billion VND and profit after tax will reach 950 billion VND, 1.7 times and 3 times higher than 2018 respectively.
