After Restructuring, QP Holdings (HKT) Plans a 578% Profit Jump and Eyes Trillion-Dong Property Projects in HCMC

At the 2026 annual general meeting held in Ho Chi Minh City, QP Holdings (ticker: HKT) approved a plan to rename the company to QP Holdings Joint Stock Company, with a 2026 profit-growth target of 578% and a large-scale real-estate project portfolio.

In 2025, the company recorded consolidated net revenue of VND 42 billion, down 64% from VND 115 billion in 2024. Profit after tax reached VND 5.4 billion, 21 times the VND 260 million of the previous year.

In Q1 2026, profit after tax reached VND 3 billion, 11 times the VND 261 million of Q1 2025, but came entirely from financial revenue and other income from compensation activities (over VND 2.7 billion).

2026 BUSINESS PLAN AND OPERATING-MODEL CHANGE

The meeting approved the 2026 financial targets, with a consolidated net-revenue plan of VND 116 billion, up 279% versus 2025. The planned profit after tax is VND 31 billion, up 578% year on year.

To suit the new model, the company is renamed QP Holdings Joint Stock Company and is relocating its head office. It also adjusted its business lines, removing 19 old lines and adding 10 new ones related to trade, transport and real-estate brokerage.

On profit distribution, the company will pay a 2025 dividend in shares at 4%, equivalent to issuing an additional 1,333,401 shares with a total par value of over VND 13.33 billion, while targeting a minimum 2026 dividend of 5% on par value.

PROJECTS AND PERSONNEL PLAN

On capital flow, total proceeds from the company’s private placement reached VND 272 billion. Of this, the company spent nearly VND 271 billion to acquire 99.63% of Quang Phuc House Development Co., Ltd.

In 2026, the company plans to add about VND 500 billion for an industrial product and about VND 1,000 billion for a residential one. Revenue this year will come from the QP Green Park project, leasing factories to engineers and short-term financial investment.

For the flagship projects, the meeting approved development plans with large sums. The QP Green Park project covers 137,821 m2 with total investment of about VND 1,137 billion, in which the company’s subsidiary will sign a construction contract with QP Construction Investment JSC worth up to VND 881 billion in 2026-2027.

At the apartment project on Lot D17 in Thu Dau Mot, the company carries out an exclusive marketing, distribution and development contract for 737 apartments with a floor area of 71,725 m2, a total contract value of up to VND 2,500 billion and a loan plan capped at VND 800 billion.

In addition, an M&A plan for a housing project in Thu Dau Mot covering over 6,000 m2 was announced, with total investment of up to VND 500 billion and a bank-loan limit of up to VND 400 billion.

On personnel, the meeting elected a 2026-2030 Board of Directors of four members, with Mr Pham Tu Trong as Chairman and Mr Nguyen Manh Tuan as General Director.

In 2026, the company maintains a zero-pay policy for the Board and the Audit Committee, applying an adjustment of up to 10% based on a bonus tied to profit after tax. The company’s long-term orientation is to apply technology to management and implement ESG standards to access international capital.

Source: CafeF.