VietinBank Capital raises stake in Hai An Transport to 9.56%

Overview

VietinBank Capital has become a major shareholder in Hai An Transport and Stevedoring (HAH) after purchasing 10.36 million shares, raising its ownership to 9.56%. The transaction occurred on July 30, 2026, and was disclosed via a regulatory filing. HAH also completed an ESOP issuance and reported strong Q2 2026 earnings, underscoring positive momentum for the HOSE-listed logistics company.

Key Facts

• VietinBank Capital bought 10.36 million HAH shares on July 30, 2026, increasing its stake from 4.05% to 9.56% (18 million shares).
• HAH completed an ESOP issuance of 3.5 million shares to 624 employees at VND 10,000 per share, raising VND 35 billion.
• The ESOP proceeds will be used to supplement working capital; charter capital rose from VND 1,883.4 billion to VND 1,918.4 billion.
• Q2 2026 consolidated net revenue reached VND 1,533.6 billion, up 20.3% year-on-year; gross profit rose 12.2% to VND 635.6 billion.
• Q2 2026 net profit was VND 466.7 billion, up 12.6% from Q2 2025.
• H1 2026 revenue totaled VND 2,798.5 billion (+14.5% YoY) and net profit VND 817.6 billion (+18.8% YoY).
• HAH achieved 65.4% of its 2026 net profit target of VND 1,250 billion in the first half.

What Happened

VietinBank Capital, the fund management arm of VietinBank, reported a change in ownership at Hai An Transport and Stevedoring (HAH) on the Ho Chi Minh Stock Exchange (HOSE). The firm acquired 10.36 million shares in a single session on July 30, lifting its holdings from 7.63 million to 18 million shares, equivalent to a stake increase from 4.05% to 9.56%. This transaction crossed the 5% threshold, making VietinBank Capital a major shareholder.

Separately, HAH completed the distribution of 3.5 million ESOP shares to 624 employees on July 28, 2026, at a price of VND 10,000 per share. The share transfer is expected in August 2026 after VSDC approval. The company also released its Q2 2026 financial results, showing a 12.6% increase in net profit to VND 466.7 billion, with revenue up 20.3% to VND 1,533.6 billion. For the first half, net profit reached VND 817.6 billion, up 18.8% year-on-year.

Market Context

HAH shares closed at VND 46,050 on August 4, 2026, reflecting a period of consolidation after a strong run. The logistics sector has benefited from recovering trade volumes and infrastructure investments. VietinBank Capital’s stake increase signals institutional confidence in HAH’s growth prospects, particularly given its solid earnings performance and strategic positioning in port operations and shipping services. The stock trades on HOSE, where investor sentiment has been buoyed by improving corporate earnings.

Strategic Significance

The stake acquisition by VietinBank Capital, a major financial institution, adds credibility to HAH’s long-term strategy. The company’s focus on expanding its fleet and port capacity aligns with Vietnam’s growing export-import activity. The ESOP issuance, while dilutive, helps align employee interests with shareholders. HAH’s ability to achieve 65.4% of its annual profit target in just six months suggests strong operational momentum, which could support further earnings growth. Institutional ownership increases may also improve liquidity and corporate governance standards.

What to Watch

• Q3 2026 earnings release, expected in October, to see if profit growth continues.
• Any further stake changes by VietinBank Capital or other institutional investors.
• Utilization rates and freight rates for HAH’s fleet, which impact revenue.
• Progress on fleet expansion or new port projects.
• Regulatory approvals for the ESOP share transfer and any subsequent capital increases.