What HOA SEN GROUP does

Hoa Sen Group (Công Ty Cổ Phần Tập đoàn Hoa Sen, HOSE: HSG) is Vietnam's largest steel sheet manufacturer and a leading Southeast Asian steel exporter, founded on August 8, 2001 and headquartered at 183 Nguyen Van Troi, Phu Nhuan District, Ho Chi Minh City. The company operates 10 factories distributed across Northern, Central, and Southern Vietnam near major seaports, producing Tôn Hoa Sen coated steel sheets and coils, Ống kẽm nhúng nóng Hoa Sen hot-dip galvanized steel pipes, and Ống nhựa Hoa Sen plastic pipes (PVC-U, PP-R, HDPE, LDPE) along with over 1,000 pipe fittings. FY2024-2025 consolidated production reached 1,845,466 tons with revenue of VND 36,538 billion (~USD 1.46B) and after-tax profit of VND 732 billion at a 0.39x debt-to-equity ratio.

The group operates a vertically integrated manufacturing-to-retail model: products flow from 10 owned factories into a nationwide distribution network of 400+ retail branches and stores, including the Hoa Sen Home supermarket chain offering more than 15,000 building material and interior SKUs across 122-145 modern outlets. The company holds over 30% domestic market share in coil steel and approximately 20% in steel pipes, and exports to more than 90 countries and territories. Recent strategic moves include a Cooling-as-a-Service (CaaS) and rooftop solar partnership with SP Group (1,900 refrigeration tonnes, 17.6 MWp solar, targeting 30%+ cooling electricity reduction by Q2 2026), a strategic cooperation with HDBank and the London Stock Exchange for cross-border capital market access (April 2026), and a USD 89.84 million expansion project in Binh Dinh province. Customer segments span B2B construction and infrastructure companies, B2C individual consumers via Hoa Sen Home, and international export markets, with no disclosed named anchor customers.

Name

HOA SEN GROUP

Legal name

Công Ty Cổ Phần Tập đoàn Hoa Sen

Website

https://hoasengroup.vn

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hoa Sen Group is Vietnam's largest steel sheet manufacturer and a leading Southeast Asian steel exporter, operating 10 factories and 400+ retail stores to deliver coated steel, galvanized pipes, plastic pipes, and integrated building materials to construction, infrastructure, and consumer customers across Vietnam and 90+ export markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Hai Duong

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Steel and coated steel sheet sales: Core revenue from manufacturing and selling galvanized steel coils, sheets, and coated steel products. The company holds over 30% market share in Vietnam's coil steel segment.
2. Steel pipe sales: Manufacturing and distribution of galvanized steel pipes, with nearly 20% market share in Vietnam's steel pipe segment.
3. Plastic pipe sales: Production and sale of plastic pipes including PVC-U, PP-R, HDPE, and LDPE pipes under the Nhua Hoa Sen brand.
4. Building materials retail (Hoa Sen Home): Operation of Hoa Sen Home supermarkets offering integrated building materials and interior products, serving both B2B contractors and B2C consumers with over 400 store locations.
5. Export sales: Export of steel and coated steel products to over 90 countries and territories across Southeast Asia and globally, contributing significantly to regional export leadership.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Hoa Sen Group manufactures and distributes galvanized and coated steel sheets, hot-dip galvanized steel pipes, and plastic pipes (PVC-U, PP-R, HDPE, LDPE) through its 10 factories and over 400 retail branches across Vietnam. The group operates the Hoa Sen Home supermarket chain, offering more than 15,000 integrated building material and interior products, and exports its steel products to over 90 countries and territories.

Product overview

Hoa Sen Group operates as Vietnam's leading steel and building materials conglomerate with a vertically integrated model spanning manufacturing and retail. Its core product portfolio consists of Tôn Hoa Sen steel sheets (manufactured across 10 factories in the North, Central, and South regions positioned near major seaports), Ống kẽm nhúng nóng Hoa Sen galvanized steel pipes, Ống nhựa Hoa Sen plastic pipes (PVC-U, PP-R, HDPE, LDPE, and accessories), and export products shipped to over 90 countries. The Hoa Sen Home sub-brand extends the group into retail distribution through more than 400 stores nationwide (including 145 modern supermarkets), offering an integrated ecosystem of over 15,000 building material and interior products — from structural steel through finishing — under one roof. The Cooling-as-a-Service (CaaS) module, delivered via the SP Group partnership, adds industrial energy efficiency services at manufacturing facilities.

Differentiator

Problem solved

Functional benefit

Brands

• Hoa Sen Home: Hệ thống Siêu thị Vật liệu xây dựng và Nội thất (Building Materials and Interior Supermarket Chain) - operates over 400 stores including 145 modern supermarkets nationwide offering more than 15,000 products
• Tôn Hoa Sen
• Nhựa Hoa Sen
• Ống Thép Hoa Sen

Products and services

• Tôn Hoa Sen (Hoa Sen Steel Sheets) Galvanized and coated steel sheets (tôn) manufactured across 10 factories in Vietnam's Northern, Central, and Southern regions positioned near major seaports. Hoa Sen Group's primary product line, serving construction companies, contractors, industrial buyers, and export markets across 90+ countries.
• Ống kẽm nhúng nóng Hoa Sen (Hot-dip Galvanized Steel Pipes) Hot-dip galvanized steel pipes for construction and industrial applications, offering corrosion resistance and durability. Hoa Sen Group holds approximately 20% share in Vietnam's galvanized steel pipe segment.
• Ống nhựa Hoa Sen (Hoa Sen Plastic Pipes) Plastic pipes including PVC-U, PVC-U electrical conduit, PP-R, PP-R UV-resistant, HDPE, LDPE, and PVC plastic mesh pipes, along with PVC adhesive and over 1,000 types of pipe fittings. Distributed under the Nhựa Hoa Sen brand, recognized as Vietnam National Brand for 6 consecutive years.
• Hoa Sen Home Building Materials and Interiors Supermarket Chain Building materials and interior products retail supermarket chain offering more than 15,000 products across over 400 stores nationwide (including 145 modern supermarkets). Provides a one-stop shopping ecosystem from structural steel through finishing products, serving both B2B contractors and B2C consumers.

Quantifiable outcome

• Production volume: 1,845,466 tons; Revenue: VND 36,538 billion; After-tax profit: VND 732 billion (146% of plan)
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• HDBankcoreStrategic or Co-development Partner · 14 April 2026Strategic cooperation agreement signed on April 14, 2026 in Ho Chi Minh City between HDBank and London Stock Exchange, with Hoa Sen as one of the cooperating companies. The partnership aims to help Vietnamese businesses access international capital markets through cross-border fundraising activities including share and bond issuances on the London market.
• SP GroupcoreStrategic or Co-development Partner · 23 July 2025Partnership to deploy Vietnam's first Industrial Cooling-as-a-Service (CaaS) system with 1,900 refrigeration tonnes capacity alongside 17.6 MWp rooftop solar PV at Hoa Sen's two largest manufacturing facilities in Phu My and Nghe An. The CaaS solutions are expected to be fully operational by Q2 2026, reducing cooling electricity consumption by over 30% annually and preventing 14,000+ tons CO2 emissions per year.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hoa Phat Group: Vietnam's largest integrated steel producer (HOSE: HPG). Direct competitor across steel coils, pipes, and construction steel, with broader upstream integration into iron ore and blast furnaces that compete with Hoa Sen's coil and pipe lines.
• Ton Dong A (Dong A Steel): Established Vietnamese galvanized steel sheet producer overlapping with Hoa Sen's core coated sheet and roofing product lines for domestic and export customers.
• Pomina Steel Corporation (Pomina 3): Vietnamese steelmaker with operations in billet, construction steel, and coated products; directly competes with Hoa Sen in the domestic steel market and in export channels.
• Nam Kim Steel Corporation: Vietnamese steel manufacturer focused on galvanized and color-coated steel sheets, directly competing with Tôn Hoa Sen in coil/coated sheet segments for construction and roofing applications.
• Sun Steel JSC: Vietnam-based steel manufacturer competing with Hoa Sen in coated steel sheets and galvanized products for both domestic construction and export markets.

Broad incumbents

• Tata Steel Limited: One of the world's largest steel producers with a growing Asia footprint; serves overlapping customer segments in coated and galvanized steel products across emerging markets.
• BlueScope Steel Limited: Australian-headquartered global leader in coated and painted steel products (ZINCALUME®, COLORBOND®). Competes with Hoa Sen in coated steel sheets for roofing and construction across Asia-Pacific export markets.

Others

• Novaland / Vietnam construction-materials supply chain (aggregated upstream buyers): Major Vietnamese real estate developer and key customer segment rather than direct competitor; included to reflect Hoa Sen's customer-concentration exposure in the construction value chain.

Regional players

• China Steel Corporation (CSC): Taiwan's largest integrated steel producer; not a direct Vietnam competitor but a major regional exporter that supplies the same Southeast Asian construction and industrial markets Hoa Sen serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@hoasengroupofficial
• Facebookfacebook.com/hoasengroup.vn

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HOA SEN GROUP