HSL Appoints Professor Phan Phuong Loan as Chairwoman, Pivots to Biotechnology and Biodiesel

Overview

Hong Ha Food Investment and Development JSC (HSL), listed on the Ho Chi Minh City Stock Exchange (HOSE), has appointed Associate Professor Phan Phuong Loan as Chairwoman of the Board of Directors for the 2026-2031 term, effective 18 September 2026. The appointment follows an extraordinary general meeting of shareholders and coincides with a strategic pivot from food processing toward biotechnology and biodiesel. HSL shares closed at VND 8,800 on 21 September 2026.

Key Facts

• Associate Professor Phan Phuong Loan, born in 1977 in An Giang, was elected Chairwoman for the 2026-2031 term, effective 18 September 2026.
• Prior to her election, Loan held no executive position at HSL and owned no HSL shares, according to the company’s candidate filing.
• New board members include Dr. Le Duong Anh Duy and MSc Nguyen Thai Hoa, among others.
• Shareholders approved renaming the company from Hong Ha Food Investment and Development JSC to Helios Biotechnology Joint Stock Company.
• The 2026 business plan was revised to VND 65 billion in revenue and VND 7.12 billion in after-tax profit, down from the earlier VND 150 billion revenue and VND 5 billion profit targets.
• For 2027, HSL projects revenue of VND 1,077 billion and after-tax profit of VND 51.54 billion.
• The company plans to relocate its headquarters from Ha Noi to 92 Bat Nan, Binh Trung Ward, Ho Chi Minh City during 2026, and to develop a 5,000-hectare Jatropha feedstock area in the South Central Coast and Central Highlands.

What Happened

HSL announced a series of senior leadership changes following its second extraordinary general meeting of 2026. Associate Professor Phan Phuong Loan, currently Head of the Faculty of Agriculture and Natural Resources at An Giang University, was elected to the board and subsequently chosen by the board as Chairwoman for the 2026-2031 term. The company also appointed new board members, including Dr. Le Duong Anh Duy and MSc Nguyen Thai Hoa. According to the candidate filing, Loan held no position at HSL and owned no HSL shares before her election.

The leadership overhaul accompanies a broader strategic reset approved by shareholders. HSL will change its name to Helios Biotechnology Joint Stock Company, add natural-science research and technology development to its business lines, and move its head office from Ha Noi to Ho Chi Minh City in 2026. The company will focus on science and technology, biofuels, and products tied to its Biodiesel project, while narrowing some existing food businesses. Shareholders also approved the Helios Biodiesel Plant and a proposed 5,000-hectare Jatropha feedstock programme, prioritising the South Central Coast and Central Highlands.

Market Context

HSL trades on HOSE and closed at VND 8,800 on 21 September 2026. The stock sits in the food and beverage sector, but the approved name change and business-line additions move the company’s narrative toward industrial biotechnology and renewable fuels. The revised 2026 plan cuts revenue guidance by more than half, to VND 65 billion, while raising the after-tax profit target to VND 7.12 billion from VND 5 billion, implying a much thinner revenue base but improved margin assumptions. The 2027 projection of VND 1,077 billion in revenue and VND 51.54 billion in profit assumes the biodiesel and biotechnology initiatives begin contributing at scale. No sector-wide or index-level data was provided in the source article.

Strategic Significance

The investment case now rests on execution of a feedstock-to-fuel chain rather than the legacy food business. The Jatropha programme is the critical variable: 5,000 hectares of non-edible oilseed cultivation in the South Central Coast and Central Highlands would underpin feedstock supply for the Helios Biodiesel Plant, but the source does not disclose capex, offtake agreements, or permitting timelines. Appointing an academic agricultural specialist as Chairwoman signals a research-led approach to feedstock development, yet the board’s lack of prior operational history at HSL and the absence of share ownership by the incoming chairwoman leave governance and alignment questions open. The 2027 revenue target implies a roughly 16-fold increase over the revised 2026 plan, a step-change that depends entirely on project milestones not yet quantified in the disclosed documents.

What to Watch

• Formal completion of the name change to Helios Biotechnology Joint Stock Company and any associated ticker or disclosure updates.
• Details of the Helios Biodiesel Plant, including capacity, capital expenditure, financing plan, and construction schedule.
• Progress on the 5,000-hectare Jatropha feedstock programme, including land agreements in the South Central Coast and Central Highlands.
• The headquarters relocation to Ho Chi Minh City and any related operational restructuring costs.
• Q3 and Q4 2026 financial statements, which will show whether the reduced revenue plan is tracking and whether the higher profit target is achievable.