和發集團新廠淨利或達10億美元

據Vietcombank Securities稱，和發集團號稱是越南和東南亞最大的鋼鐵生產商，當其位於中部地區的新鋼廠全面投入運營時，其淨利潤可能達到20-25萬億越南盾（793-9.91億美元）。

Hoa Phat Group (HoSE: HPG), which claims to be the biggest steel producer in Vietnam and Southeast Asia, may record a net profit of VND20-25 trillion ($793-991 million) when its new mill in the central region becomes fully operational, Vietcombank Securities (VCBS) said in a recent report.

Hoa Phat Group（HoSE：HPG）號稱是越南和東南亞最大的鋼鐵生產商，當其位於中部地區的新鋼廠全面投入運營時，淨利潤可能達到20-25 兆越南盾（7,93-9.91億美元） ，Vietcombank Securities（VCBS）在最近的一份報告中表示。

The group’s revenues are projected to reach VND175-200 trillion ($6.94-7.93 billion) when its Dung Quat 2 steel complex in the central province of Quang Ngai enters full operation.

當其位於中部廣義省的 Dung Quat 2 鋼鐵聯合廠全面投入營運時，該集團的收入預計將達到 175-200 兆越南盾（6.94-79.3 億美元）。

The complex may churn out the first products in a test run earlier than initially expected, in Q4 this year, and its first phase may become operational in Q1/2025. The second phase may undergo a test run in Q3/2025 and start official operation in Q4.

該綜合體可能會在今年第四季比最初預期更早生產出第一批產品，第一階段可能會在 2025 年第一季投入營運。第二階段可能於2025年第三季進行試運行，並於第四季開始正式營運。

With an annual capacity of 5.6 million tons, the Dung Quat 2 complex will provide a big boost for Hoa Phat in 2025, VCBS said.

VCBS表示，Dung Quat 2綜合設施的年產能為560萬噸，到2025年將為Hoa Phat帶來巨大的推動力。

The complex’s sales volume is projected to reach 1.5 million tons in 2025, 4 million tons in 2026, and gradually increase to 5 million tons in 2027 and 6 million tons in 2028.

該綜合體的銷售量預計將在2025年達到150萬噸，2026年達到400萬噸，並逐步增加到2027年500萬噸和2028年600萬噸。

The operation of the new mill may coincide with the Vietnamese government’s decision to levy an anti-dumping tax on Chinese hot-rolled coin (HRC) steel. “We reckon that HPG’s HRC sales depend greatly on the [Vietnamese] government’s HRC protectionism. A final decision on [anti-dumping tax] will be positive for the company.”

新工廠的運作可能恰逢越南政府決定對中國熱軋硬幣（HRC）鋼徵收反傾銷稅。 「我們認為 HPG 的熱軋捲銷售在很大程度上取決於（越南）政府的熱軋捲保護主義。關於[反傾銷稅]的最終決定將對公司有利。

HPG said it booked a net profit of VND3,022 billion ($119.78 million) in Q3/2024 on revenue of VND34 trillion, up 51% and 19% year-on-year, respectively.

HPG 表示，2024 年第三季淨利為 30,220 億越南盾（1.1978 億美元），營收為 34 兆越南盾，年比分別成長 51% 和 19%。

In Q4, the group’s earnings will likely improve as construction activity is forecast to accelerate after the Chinese central bank announced the biggest stimulus package since Covid-19 to revive the real estate market.

第四季度，隨著中國央行宣布自 Covid-19 以來最大規模的經濟刺激計劃以重振房地產市場，建築活動預計將加速，該集團的盈利可能會有所改善。

Meanwhile, the world iron ore price dropped to $91 a ton in Q3, and coal prices touched a three-year low at $186 a ton. Therefore, HPG’s profit margin is expected to improve in the time ahead.

同時，第三季世界鐵礦石價格跌至每噸91美元，煤炭價格觸及每噸186美元，創三年新低。因此，HPG 的利潤率預計未來將有所改善。