AGM of QP Holdings (HKT): Company Rename, Plans to Spend VND 500 Billion on M&A of Property Projects

The AGM of QP Holdings (ticker: HKT) approved many important proposals on real-estate investment, project M&A and capital-raising plans to fund land-bank expansion and project development, as well as the company rename. Accordingly, the company will be renamed QP Holdings and relocate its head office to Floor L16, Vietcombank Tower, Me Linh Square, Sai Gon Ward, HCMC.

According to management, renaming to QP Holdings aims to reflect a restructured orientation and an expanded operating model in a new growth phase – shifting from a property-business focus to an investment-holding structure. The company is developing several plans for M&A, capital raising and a 2026-2030 real-estate investment portfolio. In the period ahead, QP Holdings will pursue three pillars: residential real estate, industrial real estate and financial investment.

QP Holdings also tabled proposals on M&A plans and capital-raising options, shifting from accumulating resources to seeking new growth capacity through land expansion.

QP GREEN PARK & INVESTMENT PLAN

Specifically, the AGM approved its subsidiary, Quang Phuc House Development Co., Ltd, signing a construction contract with QP Construction Consulting JSC to develop the Quang Phuc 3 residential area (QP Green Park), with a total value not exceeding VND 881.25 billion. The implementation period is 2026-2027.

Quang Phuc House Development Co., Ltd is a subsidiary 99.63% owned by QP Holdings and the owner of the QP Green Park project. The project covers 137,821 m2 of land with total investment of about VND 1,137.6 billion, of which construction costs alone account for about VND 881.25 billion. The developer has owner’s equity of VND 270 billion and total assets of VND 390.6 billion.

QP Holdings also presented information on the M&A investment in a residential real-estate project in the Thu Dau Mot area (HCMC, formerly Binh Duong), with total investment of up to VND 500 billion and a borrowing plan of up to VND 400 billion to serve trade and project development.

The target project spans over 6,000 m2, oriented toward apartment products, with a development period from Q2 2026 to 2027. QP Holdings said its aim is to expand land to serve its 2026-2030 growth strategy.

At the meeting, QP Holdings also disclosed the signing of an exclusive marketing, distribution and project-development contract for the apartment complex on Lot D17, with a total contract value of up to VND 2,500 billion. The company also plans to borrow up to VND 800 billion to perform this contract.

The Lot D17 apartment project is located in Binh Duong Ward, HCMC, with Phu Thinh City JSC as the investor. The project has an area of 71,725.3 m2, a total commercial area of 45,677 m2 and a scale of 737 apartments.

In parallel, QP Holdings sought shareholder approval for a borrowing plan with a limit of up to VND 800 billion from banks, credit institutions, economic organisations or eligible individual lenders. The loan is intended to pay the investor of the Lot D17 project per the signed value.

BUSINESS PLAN AND CAPITAL STRUCTURE

In 2026, HKT plans revenue of VND 116 billion, up more than 179% versus 2025; profit after tax attributable to the parent of VND 31 billion, 5.7 times that of 2025. In 2026 the company expects to issue over 1.33 million shares to pay a 4% stock dividend on shares outstanding.

In 2025 the company’s revenue was VND 41.5 billion, down 63.48% year on year, as current land is being used to build the QP Green Park project and is not yet eligible for revenue recognition.

To realise its 2025-2026 strategic targets, QP Holdings focuses on diversifying its capital structure and choosing low-cost channels, gradually reducing short-term reliance on bank credit.

The AGM also dismissed and added members to the 2026-2030 Board, which now includes Mr Pham Tu Trong, Mr Nguyen Hong Anh Kha, Mr Pham Duy and Ms Nguyen Thi Thuy Ngan.

According to Investment Securities (Tin Nhanh Chung Khoan).