Page 532 - Ebook HTKH 2024

The decrease in revenue is also due to a number of reasons related to the company's
marketing activities.

Labor productivity decreased due to a decrease in after-tax profit while the labor
force increased; the company needs to control the newly recruited labor force. Efforts
on resource use and environmental pollution treatment of other member units outside
the two iron and steel production complexes of Hai Duong and Quang Ngai are not
significant. The reason is that the leaders have not proactively built a positive
development strategy for the members; on the other hand, the government's progress
requirements are not urgent.
4.6. Development direction and forecast of HPG’s revenue situation in the

period of 2024-2028
4.6.1. HPG's development orientation to 2028
Hoa Phat will prioritize investment in developing high-tech steel, special steel for
the mechanical engineering industry, automobile industry, shipbuilding, steel, etc.
Hoa Phat will optimize all production stages in a circular, closed direction,
reducing energy consumption and building a roadmap for developing green steel,

reducing CO2 emissions according to the Government's orientation, the goal of carbon
neutrality by 2050.
Specifically, Hoa Phat continues to implement 8 actions to reduce greenhouse gas
emissions including: Training and practice for the Company's employees according to
Decree 06/2022/ND-CP, energy audit, CBAM; using the residual heat of hot gas from
coke ovens to produce electricity; applying CDQ dry coke stamping technology to
produce electricity; using residual heat to produce electricity in sintering; utilizing hot

rolling from casting to rolling using furnaces; using blast furnace wind energy recovery
turbine (BPRT) technology. Hoa Phat also changed the method of transporting raw
materials by conveyor belt instead of cars, planting trees to absorb CO2, ...
Continue to cooperate with the world's leading partners in metallurgy to research
and implement the carbon-neutral metallurgy technology roadmap: Increase the use of
renewable energy, direct reduction technology DRI; replace fossil fuels by using natural

gas to reduce iron ore, apply continuous casting and rolling technology to reduce energy
consumption, towards zero CO2 emissions.
4.6.2. HPG’s revenue forecast for the period 2024 - 2028
Table 4.9: HPG’s revenue forecast table (Unit: Million VND)
Year 2019 2020 2021 2022 2023

Revenue 64,677,907 91,279,042 150,865,360 142,770,811 120,355,232

Year 2024 2025 2026 2027 2028

Revenue 165,695,369 183,202,200 200,709,031 218,215,861 235,722,692

Source: Authors forecast based on Trend function

524