Hòa Phát Group's shares (HPG) have recently experienced a significant downturn, dropping below 21,000 VND, which is the lowest point in over a year. This decline comes amid a generally unstable market, with a noticeable decrease in investment flows into blue-chip stocks.

On July 20, 2026, HPG shares fell by more than 4%, continuing a downward trend that has persisted for four consecutive sessions. As a result, the market capitalization of Hòa Phát has shrunk to less than 179 trillion VND. The current market conditions have made investors more cautious, especially following the issuance of nearly 768 million HPG shares as dividends for the year 2025, which began trading on HoSE on July 15.

Additionally, the steel market's dynamics have contributed to this cautious approach. Earlier in July, Hòa Phát reduced the selling price of hot-rolled coil (HRC) by approximately 34 USD per ton compared to the previous month. Market sources suggest that domestic HRC prices are under pressure from increased competition, particularly with rising imports from India following the EU's tightening of import quotas.

Despite these challenges, Hòa Phát's recent business performance has shown positive results. In the second quarter of 2026, the company produced over 3.6 million tons of crude steel, marking a 48% increase compared to the same quarter in 2025 and a 9% rise from the first quarter of 2026. The sales volume of construction steel, high-quality steel, hot-rolled coils, and crude steel reached 3.5 million tons, a 35% increase year-on-year.

For the first half of 2026, Hòa Phát produced nearly 7 million tons of crude steel, a 36% increase from the same period last year. Sales of HRC, construction steel, high-quality steel, and crude steel amounted to 6.5 million tons, up 32% compared to the first half of 2025. The company also supplied 453,000 tons of steel pipes, a 13% increase, while galvanized steel sheet sales decreased by 5%.

In a recent report, Vietcombank Securities (VCBS) projected that Hòa Phát's revenue for the second quarter of 2026 would reach approximately 59.628 trillion VND, a 66% increase year-on-year. The estimated after-tax profit is expected to be around 5.335 trillion VND, reflecting a 25% increase. For the entire year of 2026, VCBS forecasts Hòa Phát's revenue to reach 194.33 trillion VND, a 25% increase, with an after-tax profit of 18.055 trillion VND, up 17%.