Hai Phat (HPX) to Acquire 99% of New Real Estate Firm HP An Phat for VND 148.5B
This Aveluro analysis covers HPX. The classified event type is m a announcement, with neutral sentiment and a deterministic market-impact score of 5.6/10. Source coverage came from CafeF - Bất động sản, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
Hai Phat Investment (HPX) has announced a board resolution to acquire 99% of the charter capital in HP An Phat Investment, a newly established real estate company, for VND 148.5 billion. The transaction, valued at approximately USD 5.94 million, will make HP An Phat a subsidiary of HPX and is part of the company’s ongoing portfolio restructuring.
Key Facts
- HPX will acquire 99% of charter capital in HP An Phat Investment for VND 148.5 billion.
- HP An Phat was established on April 2, 2026, with an initial charter capital of VND 150 billion.
- The target company’s shareholders are Mr. Tran Ngoc Tu (48%) and Mr. Pham Sy Lam (52%), with Mr. Lam serving as Chairman and legal representative.
- HPX has appointed Mr. Nguyen Duc Viet, Deputy General Director, as the authorized representative to manage the stake.
- In May 2026, HPX also approved the transfer of its 100% stake in Diamond IC (value VND 5 billion) at a minimum price of VND 5 billion.
- HPX reported Q1/2026 net revenue of VND 120.4 billion (+22% YoY) but net profit of VND 8.9 billion (-40.7% YoY).
- As of March 31, 2026, HPX had total assets of VND 8,442.9 billion and total liabilities of VND 4,881.4 billion.
What Happened
Hai Phat Investment (HPX) announced a board resolution to acquire 99% of the charter capital in HP An Phat Investment, a newly formed real estate company, for VND 148.5 billion. The resolution authorizes the Chairman or his delegate to finalize all related matters. Upon completion, HP An Phat will become a subsidiary of HPX.
HP An Phat was incorporated on April 2, 2026, with a charter capital of VND 150 billion, focusing on real estate and land use rights. Its founders, Mr. Tran Ngoc Tu and Mr. Pham Sy Lam, hold 48% and 52% stakes, respectively. The acquisition aligns with HPX’s strategy to expand its real estate portfolio, following a recent divestment of its entire stake in Diamond IC for VND 5 billion.
Market Context
HPX shares closed at VND 4,290 on June 9, 2026, up 0.23% with low volume of 518,700 shares. The stock has faced pressure amid the company’s restructuring and a 40.7% drop in Q1 net profit. The acquisition of a newly established entity may raise questions about near-term earnings contribution, but it signals HPX’s intent to grow its property holdings. HPX is listed on HOSE.
Strategic Significance
The acquisition of HP An Phat allows HPX to add a clean real estate vehicle to its balance sheet at a relatively low cost (VND 148.5 billion). Given the target’s recent incorporation, it likely holds land or development rights that HPX can leverage. This move, combined with the divestment of Diamond IC, suggests HPX is streamlining its portfolio toward core real estate activities. The transaction does not require shareholder approval as it falls within board authority.
What to Watch
- Completion timeline and any regulatory approvals for the stake transfer.
- Disclosure of HP An Phat’s asset portfolio, including land bank or project rights.
- HPX’s Q2 2026 earnings report to assess the impact of the acquisition on financials.
- Further divestments or acquisitions as part of HPX’s portfolio restructuring.
- Changes in HPX’s debt levels and cash flow following the transaction.