Hai Phat Invest (HPX) Gains Control of 13.2-Ha Bac Ninh Project, Eyes VND 3,000B Revenue
This Aveluro analysis covers HPX. The classified event type is m a announcement, with positive sentiment and a deterministic market-impact score of 7.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from CafeF - Bất động sản, classified as a primary/top-tier source.
Key Facts
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Overview
Hai Phat Invest (HPX) has completed the acquisition of 99% charter capital of HP An Phat, raising its ownership in a 13.2-hectare project in Bac Ninh to 60% and gaining control. The project, located in the northern part of Urban Area No. 19, is expected to generate over VND 3,000 billion in revenue from 2027 to mid-2028, positioning it as a key contributor to HPX’s future earnings.
Key Facts
- HPX completed the acquisition of 99% charter capital of HP An Phat, indirectly increasing its ownership in the project by 40%.
- Prior to the transaction, HPX directly owned 20% of the project; post-transaction, total ownership is 60%.
- The project spans 13.2 hectares and includes 327 low-rise townhouses.
- Expected revenue from the project is over VND 3,000 billion (VND 3 trillion) from 2027 to mid-2028.
- Construction is expected to begin in Q4/2026, with site clearance currently underway.
- The project is located in Bac Ninh province, a key industrial hub benefiting from FDI inflows and urbanization.
- HPX shares closed at VND 4,290 on June 9, 2026, up 0.23% with volume of 518,700 shares.
What Happened
Hai Phat Invest (HPX) announced the completion of its acquisition of 99% of the charter capital of HP An Phat, a company holding a 40% stake in the 13.2-hectare project in Bac Ninh. This transaction, disclosed in a company filing, increases HPX’s total ownership in the project to 60%, giving it controlling rights and the lead role in development.
The project, known as the northern part of Urban Area No. 19, is located in Bac Ninh province (formerly part of Bac Giang city). It is strategically positioned near a pedestrian street, the provincial stadium, and high-rise buildings slated for construction in 2027. HPX expects the project to generate over VND 3,000 billion in revenue from 2027 to mid-2028, with construction set to start in Q4/2026.
Market Context
HPX shares closed at VND 4,290 on June 9, 2026, with low volatility and moderate volume. The stock trades on HOSE and has been under pressure in recent years due to challenges in the real estate sector. This acquisition signals HPX’s renewed focus on project development and M&A to rebuild its pipeline, aligning with a broader recovery in Vietnam’s property market. Bac Ninh, a key industrial province, is seeing increased demand for urban housing driven by FDI and population growth.
Strategic Significance
The move underscores HPX’s strategy to consolidate control over high-potential projects in growth regions. By increasing its stake to 60%, HPX gains operational control and can direct project execution, which is critical for timely revenue recognition. The expected revenue of over VND 3,000 billion from 2027 to mid-2028 could significantly boost HPX’s top line, supporting its restructuring efforts. The project’s location in Bac Ninh, a province benefiting from industrial expansion and infrastructure development, adds to its long-term value.
What to Watch
- Q4/2026 construction start and progress updates.
- Pre-sales launch timeline and absorption rates.
- HPX’s Q2 2026 earnings report for updates on financial health and debt levels.
- Any further M&A activity or land bank expansions by HPX.
- Regulatory approvals and site clearance milestones.