Hoa Phat Group, Vietnam's largest steel manufacturer, reported a net profit of VND 12.02 trillion ($479 million) for 2024, marking a remarkable 77% increase from the previous year. This performance exceeded the company's profit target by 20%, driven by a 30% rise in raw steel production and a 20% increase in sales. The total revenue reached VND 140.56 trillion ($5.6 billion), with exports contributing significantly to the earnings. Hoa Phat continues to strengthen its market position, holding substantial shares in long steel and steel pipes, while expanding its industrial park developments.