The General Meeting of Shareholders of QP Holdings Joint Stock Company (Ticker: HKT) approved a number of important resolutions relating to real estate investment, merger and acquisition (M&A) activities, capital mobilization plans for land bank expansion and project development, as well as the Company’s renaming.

Accordingly, QP Xanh will officially change its name to QP Holdings and relocate its headquarters to Level 16, Vietcombank Tower, Me Linh Square, Sai Gon Ward, Ho Chi Minh City.

According to the Company’s management, the rebranding to QP Holdings reflects its strategic restructuring and expansion into a new phase of development, transitioning from a traditional real estate enterprise to an investment holding company. The Company is currently pursuing multiple initiatives involving M&A transactions, capital raising activities, and the expansion of its real estate investment portfolio for the 2026–2030 period.

Going forward, QP Holdings will focus on three key business pillars: residential real estate, industrial real estate, and financial investment.

QP Green Park and Investment Expansion Plans

Shareholders approved a proposal allowing Quang Phuc Housing Development Co., Ltd., a subsidiary owned 99.63% by QP Holdings, to enter into a construction contract with QP Construction Investment Joint Stock Company for the implementation of the Quang Phuc Residential Area Project 3 (QP Green Park). The contract value is capped at VND 881.25 billion and is expected to be executed during 2026–2027.

As the project developer, Quang Phuc Housing Development owns a project site of 137,821 square meters with a total investment value of approximately VND 1,137.6 billion. Construction costs account for around VND 881.25 billion. The company currently has shareholders’ equity of VND 270 billion and total assets of VND 390.6 billion.

The Company also obtained shareholder approval for the acquisition of a residential real estate project located in Thu Dau Mot area (Ho Chi Minh City, formerly part of Binh Duong Province), with a maximum investment value of VND 500 billion. To support the transaction and project development, QP Holdings plans to secure financing of up to VND 400 billion.

The target project covers more than 6,000 square meters and is planned for apartment development, with implementation expected from the second quarter of 2026 through 2027. The acquisition is intended to expand the Company’s land bank and support its growth strategy for the 2026–2030 period.

To finance the investment, shareholders approved a borrowing plan of up to VND 400 billion from banks, financial institutions, organizations, or eligible lenders. The funds will be used for acquisition activities and project-related financial obligations, including land-use fees, construction costs, development expenses, consulting, and legal services.

 

 

At the meeting, shareholders also approved the execution of an Exclusive Marketing, Distribution, and Project Development Service Agreement for the D17 Residential Apartment Project, with a contract value of up to VND 2.5 trillion.

The project is located in Binh Duong Ward, Ho Chi Minh City and is developed by Phu Thinh City Joint Stock Company. It comprises 71,725.3 square meters of gross floor area, 45,677 square meters of saleable area, and 737 residential units.

From a legal perspective, the project has received approval for the transfer of a portion of the New Urban Area Project within the Binh Duong Industrial-Service-Urban Complex. Land Use Rights Certificates were issued to Phu Thinh City on June 4, 2025. The project has submitted its feasibility study report and obtained appraisal results during the second quarter of 2026. Construction is expected to commence within 2026.

To facilitate implementation of the agreement, shareholders also approved a financing package of up to VND 800 billion. The proceeds will be used to fulfill payment obligations under the signed agreement with the project owner.

Business Plan and Capital Structure

For 2026, HKT targets revenue of VND 116 billion, representing growth of more than 179% compared to 2025. Profit attributable to shareholders of the parent company is projected at VND 31 billion, approximately 5.7 times higher than the previous year.

The Company also plans to issue more than 1.33 million shares as a stock dividend, equivalent to 4% of outstanding shares.

In 2025, revenue reached VND 41.5 billion, down 63.48% year-on-year, primarily because the Company’s existing land bank is being utilized for the development of QP Green Park and therefore has not yet met revenue recognition conditions.

To achieve its strategic objectives for 2025–2026, QP Holdings will focus on restructuring its capital base through diversified funding channels with lower capital costs, gradually reducing dependence on short-term traditional bank financing.

The General Meeting of Shareholders also approved changes to the Board of Directors for the 2026–2030 term. Newly elected members include Mr. Pham Tu Trong, Mr. Nguyen Hong Anh Kha, Mr. Pham Duy, and Ms. Nguyen Thi Thuy Ngan.

Source: Dau Tu Chung Khoan (Securities Investment Newspaper)