Hoa Phuoc Livestock Company Limited (Vietnam)

HOA PHUOC LIVESTOCK CO., LTD is a member of Hoa Phat Group. It is directly under HOA PHAT DEVELOPMENT OF LIVESTOCK JOINT STOCK COMPANY, focusing on raising pigs. Founded in 2015, the subject has started running the commercial operation since the end of 2017. The first pig farm is situated at the headquarter with a designed capacity of 6,000 sows and about 50,000 commercial pigs. Since early this year, it has been additionally investing in the second farm Bu Ka 2 Hamlet, Long Ha Commune, Phu Rieng District, Binh Phuoc Province, Vietnam. The second farm is expected to be completed in the first quarter of 2021, said the Chief Accountant - Ms. Pham Thi Binh. As revealed, it only serves local demand, mainly in the Southern area via wholesale and retail sales channels. According to the annual report 2021 of Hoa Phat Group, the agricultural aspect of the Group met significant difficulties due to the negative impact of the COVID pandemic, which might be also the main cause for the subject's business result depression. Particularly, net sales were depressed by 27.86% over the year 2020. The profitability clearly declined because of an enlargement of the costs of goods sold (mainly caused by an increase in the material price as a revelation from the Chief Accountant). Generally, its self-financing capacity was still good thanks to the high owner's investment capital and retained earnings from its efficient operation.