Doan Hoang Nam, the son of Doan Nguyen Duc (known as “Bau Duc”), Chairman of Hoang Anh Gia Lai JSC (HAG), has registered to purchase 27 million HAG shares while his father is set to sell 25 million shares between August 15 and September 13.

If completed, the transaction will cost Nam about VND 440 billion (approximately USD 17.25 million), giving him a 2.55% stake in HAG. This marks his debut as a shareholder of the group, in what appears to be an internal share transfer from father to son.

The move comes as HAG shares trade at their highest in three years, up nearly 30% since the start of 2025, closing at VND 16,200 (USD 0.64) on August 13. Bau Duc currently holds nearly 330 million HAG shares (31.2% stake), valued at about VND 5.346 trillion (USD 209.5 million).

Bau Duc has three children  -  daughter Doan Hoang Anh and sons Doan Hoang Nam and Doan Hoang Nam Anh. All three studied and lived in Singapore from a young age and have kept a low public profile. Hoang Anh currently owns 13 million HAG shares (1.23%).

In Q2 2025, HAGL reported net profit of VND 483 billion (USD 18.9 million), up 86% year-on-year, driven by strong banana sales. For H1 2025, revenue rose 34% to over VND 3.7 trillion (USD 145 million), while net profit surged 72% to VND 824 billion (USD 32.3 million), achieving 78% of the year’s profit target. The company has also erased all accumulated losses by the end of June.

At its 2025 annual general meeting, HAGL reported revenue composition of 76% from fruit (mainly durian), 19% from pig farming, and 5% from other products  -  affirming its “two trees, one animal” strategy.

HAGL’s debt load has dropped dramatically in recent years, from over VND 32 trillion and accumulated losses of VND 7 trillion in 2021 to about VND 7 trillion in Q1 2025. By Q2 2025, total debt rose to VND 9.3 trillion due to expansion, but bond debt decreased sharply to VND 280 billion short-term and nearly VND 815 billion long-term.

The group is investing in new sectors, including 2,000 hectares of mulberry plantations for silk production, 2,000 hectares of Arabica coffee, and a sturgeon farming project in Laos with 700,000 fingerlings, expecting its first harvest in September–October 2025.

Manh Ha