Separate Interim Financial Statement 30.06.2025

* Deloitte.

uOA PHAT GROUP JOINT STOCK COMPANY

(Incorporated in the Socialist RepvbJ/c o/ Vietnam)

REVIEWED INTERIM SEPARATE

" FINANCIAL STATEMENTS

For the 6-month period ended 30 June 2025

I•iOA PHAT GROUP JOINT STOCx COMPANY

Pho Noi A Industrial Zone, Nguyen Van Linh Commune, Hung Yen Province, Vietnam

TABLE OF CONTENTS

CONTENTS

STATEMENT OF THE BOARD OF MANAGEMENT

REPORT ON REVIEW OF INTERIM SEPARATE FINANCIAL STATEMENTS

INTERIM SEPARATE BALANCE SHEET

PAGE(S)

1-2

3-4

5 - 6

'N

INTERIM SEPARATE INCOME S7ATEMENT 7 / p

INTERIM SEPARATE CASH FLOW STATEMENT

NOTES TO THE INTERIM SEPARATE FINANCIAL STATEMENTS

8 - 9

10-37

HDA PHAT GROUPJQINT SToCK COMPANY

Pho Noi A Industrial Zone, Nguyen Ven Linh Commune,

Hung Yen Province, Vietnam

STATEMENT OF THE BOARD OF MANAGEMENT

The Board of f«anagament of Hoa PhHGroup Joint Stod‹ Company (the "Company") presents this report together with the Company's interim separate financial statements for tM 6-month period ended 30 June 202S.

BDARD OF DIRECTDRS, BOARD DF MARAOEMENY, BOARD OF SUP¥RVISORS AND CHIGFACCOUNTANT

The members of the Board of Directors, Board of Management, Board of Supervtors and Chief Accountant of the Company during the period and to the date of this report are as follows:

Mr. Tran Dlnh Long Mr. Tran Tuan Duong

Mr. Nguyen Manh Tuan Mr. Doan Gla Cuong

Mr. Nguyen Ngoc Quang Mr. Hoang Quaug Viet Mr. Nguyen Vtet Yhang

Chairman Member Member Member Member Member Member

Mr. Chu Qu8ng Vu

Independent Mgmber ri

Mr. Dang Ngoc Khanh

Boerd of Msnagemant

Mr. Nguyen Viet Thang

Ms. Nguyen Thf Thao Nguyen Ms. Tran Thi Thu Hien

Ms. BuITh1 Hai Van Ms. Ngo Lan Anh Ms. Thai Tht Loc

Ms. Pham Thi Kim Oanh

Independent Member

Chief ExecutNe Officer Deputy Chief Executive Officer

Deputy Chtef Exeaitfre Ofñcer

Head of the Board of Supervkors Member

Member

"

BOARD OF MANAGEMEKT'S STATEMENT OF RESPDfg5IBILff¥

TheBoard ofManagement of the Companyisresponsible for prepartngthe interim separate financial statements, whlch give a true and fair view of the ftnanctal position of the Company as at 30 June 2o2s, and frs flnandal perfartricnce and Its cash flows for the 6-month period then ended In accordance wtth Vietnamese Accounting standards, sccounttng raglme for enterprises and legat regulations relating to Interim flnandal reporttng. In preparing these Interim saparate financial statements, the Baard of Management Is required to:

• select sukable accounting polkJes and then apply them consbtantly;

• make}vdgrnents and estimates that are reasonable and prudem;

• state whethw applicable accounting prindples hava been followed, subject to any material departures disclosed and explained In the Interim separate financial statements;

• prepare the Intertm separate financial statement on the going concern basis unless It b Inappropriate to

  praume that the Company wlll continue in business; and

• design and Implement an effecthe Internal control system for the purpose of properly preparIr›g and presenting the Interim separate flnandal statemenu so as to minimize errors and frauds.

HOA PHAT GROUP JOINT STOCX COMpANy

Pho Noi A Industrial Zone, Nguyen Van Linh Commune,

" Hung Yen Province, Vietnam

The Board of Management is responsible for ens«ring that proper accounting records are kept, which disclose, " with reasonable accuracy at any time, the financial position of the Company and that the interim separate financial statements comply with Vietnamese Accounting Standards, accounting regime for enterprises and legal

regulations relating to interim financial reporting. The Board of Management is also responsible for safeguardinB " thp assefs of the Company and hente for taking reasonable steps for the prevention and detection of frauds and

other irregularities.

The Board of Management confirms that the Corrpany has complied with the above requirements in preparing these interim separate financ aI statements.

For and on behalf of the Board of Managemen

o

TAP 00

G t Thang Chief Executive Officer

29 August 2025

,'N

2

Deloitte.

Dctokte Vletnam Audft

Company Mmft•d

12"' F1oor, Diamond Park Plaza Bulldiny, No. 16 Lang Ha, Giang Vo Ward,

Ho Koi Cry, v‹emarn

Tel: *84 24 710 SOOOO

Tha shareholders,

Hoa Phat Group Joint Stoch company

We have reviewed the accompanying interim separate financial statements of Hoa Phat Group Joint Stock CompanY (the "Company"), prepared on 29 August 2025, as set out from page 0S to page 37, which comprise the interim separate balance sheet as at 30 June 2025, and the interim separate statement of Income, and interim separate statement of cash flows for the 6-month period then ended, and a summary of significant accounting policies and other explanatory information.

The Board of Management is responsible for the preparation and fair presentation of these interim separate fnanñ»I statement In accordance with Vietnamese Accounting Standards, accounting regime for enterprises and legal regulations relating to interim financial repo «B and for such internal control as the Board of Management

" determines is necessary to enable the preparation of interim separate financial statements that are free from material misstatement, whether due to fraud or error.

Our responsibility is to express a conclusion on the accompanying interim separate financial statements based on our review. We conducted our review in accordance with Vietnamese Standard on Review Engagements {VSRE) 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity.

A review of interim separate financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytiCal and other review protedures. A review is substantially less in scope than an audit conducted it accordance n'ith Vietnamese Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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Deloitte.

REPORT ON REVIEW Dfi INTERIM SEPARATE FINANcIAL STATEMENTg (Continued)

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim separate finandal statement do not present fairly, in all material respects, the financial position of the Company as at 30 June 2025, and Its financial performance and iu cash flows for the 6-month perlod then ended in accordance with Vtetnamese Accounting Standards, accounting regime for enterprises and legal regutations relattng to interim financial reporting.

The Company's separate flnandal statemeMs for the year ended 31 December 20Z4 were audited by another auditor who expressed an unmodified opinion on thase statement on 24 March 2025. The Company's interim separate financial statements for the 6-month period ended 30 June 2024 were reviewed by another auditor who expressed an unmodified conclusion on those statements on 29 August 2024.

" Audit Practising Registration Certificate No. 0929-2021-001-1

DEkOFt-FE VIETNAM AUDIT COMPANY LIMITED

4

ffOA PHAY GROUP JOINT STDCX COMPANY

Pho NOi A Industrial Zone, Nguyen Van Linh Commune,

" Hung Yen Province, Vietnam

Issued under Circular No. 2 M1B D dated 22 December 2014 af the M"inn'stry af F*mance

- As at 30 June 202'fi

The occompanying notes are an integral pen o/these interim separate finonciol statements

s

HOA PNAT GROUP 7C NTSTOCK COMpANy

Pho Noi A Industrial Zone, Nguyen Van Unh Commune,

ronu B o3a-ON

Issued under Ctrcular No. 200/3014/TT-BTC

" many yen Province, Vletnam dated 22 December 2014 of the Ministry of Nnance

INTERIM SEPARATE BALANCE StfEET(Continued)

As at 30 June 2025

Unit: VND

Opening balance 1,012,889,937,592

i.

2.

3.

" 4.

5.

6.

" 7.

8.

Mrtent IlabIIit1es

Short-term trade payables

Taxes and amounts payable to the State budget

Payables to employees

Short-term accrued expenses Short-term unearned revenue Other current payables

Short-term loans

Bonus and welfare knds

310

311 15

313 11

314

3zS 318

319 16

320 18

322 17

17,586,S86,287

7,387,985,106

1,659,682,S22

3,250,488,025

31,S01,9S6,117

572,500,000,000

1,091,43S,512,509

1,012,8B9,937,592

20,302,825,821

11,898,040,627

8,11o,460,639

480,866,916

3,151,245,281

30,484,725,723

938,461,772,585

11. tong-term Il»bilitfes

1. Long-term loans

D. EQUITY

338 19

4,350,000,600,000

aO,780,186,S78,0S2

t.

1. Owners' contributed capital

- Ordlnaryshares carrying

votjng rights

110 zo B5,736,753,041,082

411 63,R62,502,000,Q¥t

411a 63,962,fi02,000,000

63,962,502,000,000

w 2. Investment and development fund 418 1,388,437,800,829

3. Retainedearnings 421 20,38S,813,240,Z53

- Retained R0TDlnQS 0MNf7/ulatedto the 4210 15,005,817,052,223

788,437,800,829

16,o29,246,777,223

5,781,846,305,123

- Retained eomIng$ of the current

period/year

421b

TOTAL RESOURCES (440=3g0+400) 440

914¥4,994,94Z,317

g1,793 176,515,644

Nguyen D{au Mnh Pham I Klm Oanh Thang

The accompanying notes are on Integral part of these interim separate financial statement

6

HOA PHAT GROUP JOINT STOCK COMPANY

Pho Noi A Industrial Zone, Nguyen Van Linh Comm one,

" Hung Yen Province, Vietnam

FORM B 02a-DN

Issued under Circular No.200/20}4/TT-BTC dated 22 December 2014 of the Ministry of Finance

INTERIM 5EPApATE JNCOAfE STATFMENT

For the 6 month period ended 30 June 2025

3.

Nguyen Dieu Linh

Prepared

Pha Thi Xim Oanh

ChiPf Accountant

a

""Ch ef Execut Tvh Officer

29 Au gus t 2025

The accompanying notes are an inregral part of tfjese interim separate financial stotemen ts

7

HOA PHAT GROUP JOINT STOCK COMPMY

Pho Noi A Industrial Zone, Nguyen Van Linh Commune, Hung Yen Province, Vietnam

FORM B 03c•DN

issued under Circular No.200/2014/TT-BTC dated 22 December 2014 of the Ministry of Finance

INTERIM SEPARATE CASH FLOw STATEMENT

For the 6-month period ended 30 June 2025

"

'

rhe accompanying notes are an integral part of these interim separate financlal statements

HOA PHAT GROUP JOINT STOCX COMPANY

Pho Noi A Industrial Zone. Nguyen Van Linh Comm une,

" Hung Yen Province, Vietnam

FORM B 03a-DN

Issued under Circular No *00/2014/TT-BTC dated 22 December 2014 of the Ministry of Finance

INTERIM SEPARATE CASH FLOW STATEMENT (Continued)

for fhe 6-month period ended 30 June 2025

Pham Thi Kim Oanh

Chief Accountant

Thang

xecutive Officer

Nguyen Dieu Linh ,

Preparer ‹'

29 Augus 1 2025

The accompanying notes are on integral part of these interim separate finon ial statements

NQA PhAT GROUP JOtMT STBCK 0DMPAN¥

Pho Noi A Industrial Zone, Nguyen Van Mnh Commune, Hung Yen Province, Vlemam

NDTESTO THE INTERIM MPARATE FtNANOAL STATEMENTS

FOBM B fI9-DN

issued under Orcular to.za/zo1

aated 23 0ecama‹1oz‹aaeulnawa no

Tfiese nates ore an Integral part af and should be read in conjunction with the accompanying inte m separate

• financial stoteznems

  
  
  

  GENERAL INFORMATION

  •• Hoa Phat Group Jelnt Stock Company ("Company") was originated from Hea Phat Steel Joint Stock Company Incorporated under the Law on Enterprise off Vlemam pursuant to the the InRlal Business Regsoaflon Certificate No. 050300tXXI8 Issued by Hung yen Department of Finance (formerly known as

• the Department of Planning and InvestrneM of Hung Yen Province) on 26 October Z001. In accordance wkh its 8th amended Business Registration Certificate dated 9 January 7, Hoa Phat Steel Joint Stod‹ Company wcs Uansformed Into Hoa Phat Group Joint Stock Company.

  
  
  

  The Company's Entwprise Registration Certificate has been amended several times, the latest 38 amendment dated 11 August 2025, issued by Hung Yen Department of Bnance.

  The Company's shares have bean offidafly listed and traded on the Ho Ch) Minh Gty Stock Exchange (HOSE) under the tlcker symbol HPG since 15 November 2007.

  The total number of employees of tha Company as at 30 June 2025 Is 128 people (as at 31 December 2024: 154 people).

  
  
  

  Operating Industry and prIr›cgzal actMtles

  The operating Industry of the Company Include:

  Flnandal Investments;

  
  
  

  Integrated Investment in and construction of Infrastructures, Indusb1al zopes and urban areas; Production of tanks, reservoirs and comalner5 of metal;

  Production of structural metal products;

  
  
  
  
  
  

  Exploration aztd exploltadon of minerals;

  Leadng madllnes, equipment and motor vehldes;

  Dealing in automobiles, matorcydas, equipments, parts for transport and mining sectors, transport

  
  
  

  Production and trading of construction machlnery and mlnlug machlnertes;

  • Dealing of electrical, ekctronlc appliances, opttal and medical equipment;

    
    
    
    
    
    

  • Production, Uadin$, acgembly, installation, repair and maintenance of electrical, electronic, eiectrtcal refflgaration and cMl electrical appliances and air-conditioners;

  • Production and tradtng of raw materlab and plastic products;

    CMI and industrial construction; Exploltaion of sand, stones and gfdvef;

  • Productton, trading and assembly of construction equipments; Real estate trading(excludingland prtce consultancy);

  • domestic and foreign Investment advisory(exduding law adylsory);

  • Production and trading of non-ferrous metak and non-ferrous metal soaps; Trading and expon and import of steel and supplies for steelm8Mng and rolling; Production of rolled steal and roofing cheeB;

    HOA PHAT GROUP JOINT wDcK COMPANY

    NOTES TO THE INTERIM scrxnnzz n civ wxnuizMTS(Continued) PORM B 09a-DN

    Exploitation of metal ores;

    Trading metals, metal ores and iron and steel scraps;

  • Making cast Iron and steel and casUng cast iron, iron and steel;

  • Production of plated and non-plated steel pipes, and Inox pipes;

Production and trading of galvanized steel sheet, color coated steel sheeu and galvalum steel sheets;

Entrusted export-import activities; Raising pigs;

Raising cows;

Raising poultry;

Raising other animals; Provision of raising services;

Processing and preserving of meat and meat products; Producing feeds for cattle, poultry and aquaculture sector; Producing fertilizer and nitrogen compounds;

Trading agdcultural equipment, machineries and accessories; Construction of railway works;

Site preparation;

General support services;

Restaurants and mobile catering services; h'

Provision of catering services under non-regular contracts with customers;

Beverage serving servlces;

Coastal, inland waterway and ocean transportation;

Import, export, trading and distrlbution of goods not included in the jist of goods prohibited from trading in accordance with Vietnamese laws;

Import, export, trading and distribution •t BE not inClfJded in the list of goods prohibited from trading in accordance with Vietnamese laws;

Mechanical processing, metal treatment and coating;

Investing, manufacturing and trading in electrical and household appliances; Manufacturing and trading of refrigeration products; and

Production of freezers and refrigerators.

The Company's main business activities during the period are office leasing, advertisement, and financial investments.

|''

Normal production and budness cycle on

The Company's normal production and business cycle Is carried out for a period of 13 months or less. The company's smiaure

As at 30 June 2025, the Company has dependent units and directly owned subsldlarles as follows:

Plaoe af establishment

Hoa Phat Group Joint Stock No. 66, Nguyen Du Street, Cua Certificate of Branch Operation Company-HanolBranch Nam Ward, Nanol City Registration No. 0900149284-0D2, dated 5

" September 2002

HOA PHATGROUP JOIMT STOCK COMPANY

fiIOt fi TO THEfMT£R/M SEPARATE FINANCIAL STAT£M£NTs (Gmtfnued)

Company name Raoa of establishment certificate of

and operation Branch Operation Reglstratton

Noa Phat Group Jolnt Stock No. 22, Vo Van Kiet Street, Ben Certificate of Branch Operation Company - Ha Chi Mlnh Thanh Ward, Ho Chl Mlnh City Registration No. 0900189284 5, dated 3 City Branch January 2009

Noa Phat Group Joint Stock No. 171, Truong Chinh Street, Certificate of Branch Operation Company Da Nang Branch An Xhe Ward, Da Nang City Registration No. 0900189284 3, dated

19 June 2002

and opcratlon(9t) rtght (%)

Principle actlvltles

1a'i

" (I)

On 28 February 2025, the Company'5 Board of Directors approved Resolution No. o3/NQHP-2025 regarding an additional capltal contrihution of VND 12,200,D00,0O0,000 to Hoa Phat Iron and Steel Joint Stock Company, with the contribution schedule no later than 31 December 2025. As at 30 June 202s, the Company had contributed VNO 5,110,000,000,000 via bank transfer. Accordingly, the Company's percentage of ownership and voting rights In Hoa Phat Iron and Steel Joint Stock Company Increased from 99.9987% to 99.P988%.

On 28 February 202S, the Company's Board of Directors approved Resolution No. 04/NQHP-3025 regarding an additional capital contribution of VND 420,000,000,000 to Hoa Phat Steel Products Joint Stock Company. As at 30 June 2025, the Company had fully contributed this amount yia bank transfer. Accordingly, the Company's ownership and votfng rights In Hoa Phat Steel Products /o(nt Stock Company Increased from 99.9958K to ss.sssox.

(III) On S May 3025, the Company's Board of Directors approved Resolution No. 08/NQHP-2025 regarding the withdrawal of a capital conrrlbution of VND 249,99Y,980,0£ I from Hoa Phat Agricultural Development JotM Stock Company. As at 30 June 2o25, the Company had fully received thls amount via bank transfer. Accordingly, the Company's ownership and voting rt@ts In Noa Phat AgricuKural Development Jolnt Stock Company Is 99.9992%.

On 12 March 2025, the Company's Board of Directors approved Resolution No. 05/NQHP-2O2S regarding an additional capltal contribution of VNO3,800,000,000,£XXI to Hoa Phat Real Estate DevelopmeM Joint Stock Company. As at 30 June 2025, the Company had fully contributed this amount via bank transfer. Accordingly, the Company's ownership and voting rights In Noa Phat Real Estate Development Joint Stoct Company Increased from 99.9706% to 99.98119a.

12

NDTES YOYNE INTERIM SEPARATE nNANDAL STATEMENTS (Contlnued) FOeM B 09e•oN

(v) On S May, 2025, the Company's Board of Directors approved Resolution No. OS/NQHP-2025 regarding an addMonaT capital contribution of ¥ND 200,fXIo,00o,000 to Hoa Phat Home Appliances Joint Stock Company, with the contribution schedule no later than 30 September zo2S. As at 30 June 302S, the Company had contributed VND 100,000,QXt,000 via bank transfer. Accordingly, the Company's ownership and veting rights in Hoa Phat Home Appliances Joint Stock Company Inweased from 99.9090% to 99,9091%.

Comparative figures in the Interim separate baBnce sheet and the correspondinB ••‹•• arE the figures of the audited separate financial statements fbr the year ended 32 Oecernber 2024.

Comparative figures In the Interim separate lncemestaternent,interim separate cash flow statement and the corresponding notes are the figures of the reviewed interim separate flnandal statement for the 6-month period ended 30 June 2024.

accou«nus couw«zio«wo ouun«s Seaton

Accountlng conueutlon •

The accompanying interim separate flnandal statements, expressed in Vietnam Dong (VND), are prepared under the histodcal cost convention andin accordance wkh Vletnamese Accounting Standards, accounting regime for enterprises and legal regulations reladng to interim financial reporti

The accompanying Interim separate financial statements are not intended to present the financial position, results of operations and cash flows In accordance with accounting principles and practkes generally accepted in countries and jurisdictions other than Vietnam.

These intertm separate finandal statements should be read In conjunction with the Company's Interim consolidated financial statements for the 6-month pertod ended 30 June 2025 for a more comprehensive understanding of the Company's financial position, operating results, and cash flows.

Azzountlng period

The Company's financial year begtns on 01 January and ends on 31 December.

These friterfm separate financial statement are prepared for the 6-month period ended 5oAtne 2025.

1. SUMMARY OF 5fONlFl€ANTACCOUMTlNC POMOES

   Thesignificant accounting poltdes, whkh have been adopted by the Company in the preparation of these lntcñm separate flnandal satemenu. are as lotions:

   
   
   
   
   
   

   The preparation of Interim saparzte flnandal statements in conformity with vietnamese Accounflng SQndards, accounting ragime for enterprise and legal regulations relating to inteffm financial reporting requires the Board ofManagemmt to make estimates and cssumpdons that affect the reported amounts of assets, liabilities and dbclosures of contingent assats and IiablfMes at the date of the Interim separate financial statements and the reported amounts of revenues and expenses during the reporting period. Althou@ these:accounting estimates are based on the Board of Management's best knawledge, actual results may differ from thoce estimates.

   HOA PHAT GROUP 1OINT STDCK COMPANY

   
   
   

   NOTES TO THE INTERIM SEPARATE F{NAJgClALSTATEMENT5 (Continued)

   cash and cach equhzalents

   Cash and cash equivalents comprise cash on hand, bank demand deposits, and short-term, highly Ilquld Investment (with orlgtnal term not exceeding 3 months) that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes In value.

   Finanaal Investments

   • Held-to-maturity investment comprise Investments that the Company has the positive intent or ability to hold to maturity. Held-to-maturity Investment includes term deposits.

   • Post-acquisltlon interest Income from held-to-maturity investments Is recognised In the Interim separate Income statement on accrual basls.

     
     
     
     
     
     

     Loan receivables are measured at cost less provision for doubtful debts. Provision for doubtful debM relating to loan receivables is made In accordance with prevailing accounting regulations.

     A subsidiary is an entity over which the Company has control. Control is achieved where the Company has the power to govern the financial and operating poiicies of an Investee enterprise so as to obtain benefits from its activities.

     
     
     

     Investments in subsldlaries are carried in the interim separate balance sheet at cost less provision for Impairment of such investments (if any). Provisions for Impairment of these Investments are made when there is reliable evidence for declining in value of these investments at the balance sheet date.

     
     
     

     Receivables represent the amounts recoverable from customers or other debtors and re.stated at book value less provision for doubtkl debu.

     w Provision for doubtful debts is made for receivables that are overdue, or when the debtor is In dissolution, In bankruptcy, or is experiencing similar difficulties and so may be unable to repay the debt.

     inventories are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and thase overheads that have been Incurred in bringing the inventories to their present location and condition. Cost Is calculated using the weighted averagemethod.

     Net realisable value represent the estimated selling prlce less all estimated costs to completion and costs " to be Incurred in marketing, selling and distribution.

     The evaluation of necasary provision for Inventory obsolescence follows current prevailing accounting

     " regulations which allow provklons to be made for obsolete, damaged, or sub-standard inventories and for those which have coso hi8her than net realisable values as at the balance sheet date.

     
     
     

     HOA PHAT GROUPJDINT sToca COMPANY

     
     
     

     NQI'ESTO TflE INTERIM SEPARATE FtNANOAL STATEMENTS(Contlnuad)

     Tangible ftxnd aaaats and depredadon

     Tangible fixed ascets are stated at cost less accumulated depredation.

     The costs of pur‹:hased tangible Axed assets comprise thoir purchase pñces and any directly attributable ousts of brlnging the assets to their working condltlon and lemtlon for their intended use.

     ••• The costs of self-constructed or manufactured assets are the actual conmuctton or manufacturing cost plus Installation and trial testtng cosu.

     Tangible fhed assets are depreciated using the straight-line method over their estimated useful lNes as

     
     
     

     Buildings and structures Machinery and equipment Office equipment

     Motor vehklas

     10

     
     
     

     o2 - 10

     o2 - 1o

     Leases are dasslfled as finance leases whenever the terms of the lease transfer substantially all the risks • " and rewards of ownership to the lessee. All other leases are classified as operattng)eases.

     
     
     

     The Company as lessor

     
     
     

     Rental Income from operating leases Is recognbad on a straight-line basis over the term of the relevant lease. Inhial direct casa incurred in negotiadng and arranging an operating lease are charged to the Income statement using strai@t-lTne method over the lease term.

     
     
     

     The Company as lessee

     
     
     
     
     
     
     
     
     

     Leases where substantially all the rewards and risks of ownership of assets remaln wkh the leasing company are accounted for as operating leases. Rentab payable under operadng leases are charged to the Income statement on a straight-line basls over the term of the relevant lease Benefits received and receivable as an incentive to entor into an operating lease are also spread on a straight-line bask over the lease term.

     Intangible assets represenflng indefinite and definite land use rights are sated at cost less accumulated amortisaflon. Land use dghts wtth indefinite term are not amortised. Deftnlte land use rlghts are amortised using the straight-line method based on the useful lives of the land pios.

     
     
     

     The purchase cast of ne• computer sofMare, whkh is not an Integral part of the related hardware, k capitalized and recorded as an Intangible ssset. Computer software k amortized using the straight-lina method oyer zs years to 6 yaars.

     HOA PNATGROUPJOINTSTDCX COMPANY

     NOTSSTO TNE INTERIM SEPARATE FlNAf4ClM STATEMEMTS (Cbntlnued) FORM B 09n•DN

     Investment property k the offlCe building located at Z9 Nguyen Dinh Chieu Street, Hal Ba Trung Ward, Hanoi Oty held by the Company to earn rentals. Invesonent properties held to earn rentab are staied at cost tess accumulated depreciation. The costs of self-constructed Investment properties are the finally accounted for construction or directly attributable costs of the properties.

     subsequent expenditures Incurred aRer an investment property has been put into operation for rental purposes, such as repair and maintenance expenses, are recognized in the interim separate income statement in the period In which they are incurred. In cases where It an be dearly demonstrated that

   • such expendltures increase the future economic benefits expected to be obtained from the use of the investment property beyond its originally assessed standard of performance, such expenditures are capitalized as an addition to the hbtorical cost of the investment property.

     n

     
     
     

     Investment properUes held to earn rentaB are depredated using the straight-line method over their estimated useful lives of 20 years.

     
     
     

     Properties In the course of construction for production, rental or administrative purposes, or for other purposes, arecarried ar cost that fnc/udingcosrs thataranecessary to form the atsets inaccofdaoce wfth the Company's accounting policY. Depreciation of these assets, on the same basis as other assets, commences wham the assets are ready for their intended use.

     
     
     

     accountlng pel1ods. Prepsyments indude advertisement expenses; office rental casa; costs of tools and supplies Issued for consumption; repair expenses and mher prepaid expenses.

     
     
     
     
     
     

     Office rentals represent rentals that kave been paid in advance. Prepaid office rentals are charged to the Interim separate intome statement using the straight-line method over the laase term.

     
     
     

     Advertisement expenses, tools and supplies issued for consumption, repair expenses and other prepaid expenses are allocated to the Interim separate Income statement ustng the straight-llne method in accordance with tha airrem prevailing accounting regulations.

     Accrued expenses lndude payables for goods and services received from suppliers or already provided to customers during the reporting pertod but not yet paid, and expenses which have not yet actually arisen but are accrued In advance into production and budness expenses of the current accounting period. Accrued expenses are settled against the amual expanses Incurred, and any differences between the accrued amounts and theactualexpenses are recorded as reversals or additional chargestoexpenses

     Share premium is recorded as the difference between the Issue prtce and the par value of shares at the " dme of initial or additional Issuance, and the difference between the re-issue price and the book value of treasury shares. Direct experoes relating to additional share ksues and the re-issuance of treasury

     shares are deducted from share premium.

     16

     MOA PHAT GROUP JOIKT STOCIt CDMpANY

     
     
     NOTES TDTffE tf€FEflfM SEPARATE NNANOAt 5TAyEM5fiTs fcontfnued) Profit distribution

     Net pram we corporate income tax may be distributed to shareholders upon approval by the General

     Meeting of Shareholders and after appropriations to reserves In accordance wlth the Company's Charter and the regulatlons of Vietnamese law.

     The Company dlstrlbutes Its net profit after corporate income tax based on the proposal of the Board of Directors and the approval of the shareholders at the Annual General Meeting of Shareholders.

     Bonus and wefi›re fund

     This fund is appropriated to reward and provide material Incentives, to bring common benefits and to Improve employees' welfare, and Is presented as a payable In the Interim separate balance sheet.

     Ofvidends

     
     
     

     Income is recognized when the Company's right to recelve dividend payments Is established.

     
     
     
     
     
     

   • Unearned revenue Is the amounts received in advance relating to results of operations of for one or multiple accounting periods for services that have been yet provided. The Company recognizes unearned revenue In proportion to its obllgatlons that the Company will have to perform in the future. When the revenue recognNon conditions are satisfied, unearned revenue will be recognized In the Interim separate

     income statement for the period correspondinB to the portion that meets the revenue recognition conditions.

     scvrnue remgnhlon

     Revenue from services rem:tered

     
     
     

     Revenue of a transaction Involving the rendering of services is recognised when the outcome of such transactions can be measured reliably. Where a transaction Involving the rendering of services Is attributable to several periods, revenue is recognised in each period by reference to the percentage of

     
     
     

     completion of the transact)o»at the baWce sheet date of that perio‹t The outcome of a transaction can :C

     be measured reliably when all four (4) followlng conditions are satisfled:

     1. the amount of revenue can be measured reliably;

     2. it is probable that the economic benefits assoctated with the transaction will flow to the Company;

        
        
        

     3. the percentage of completion of the transaction at the balance sheet date can be measured reliably; and

     4. the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

     Interest income is accrued on a time basis, by reference to the prlndpal outstanding and at the applicable Interest rate,

     Salas deductions

     Sales deductions Indude sales discount.

     Sales deductions incurred in the same pertod of the related revenue from rendering of services are recorded as a deduction from the revenue of that period. In case that sales deducttons for salas of products, goods or rendertzg of services sold in the reporbog period Incurred after the balance sheet date but before the ksuance of the financial statement, the Company recorded as revenue deductions for the reporting period.

     17

     HDA PHAT 0fiOUP JDINT STDCk COMPANY

     Borrowing costs are recognised in the interim separate income statement In the period when Incurred unless they are capitalised In accordance with Vietnamese Accounting Standard No. 16 "Borrowing costs". Accordingly, borrowlre ‹osts directly attributable to the acquisition, consouction or production of qualifying assets, which are assets that necessarily take a substantial period of flme to get ready for their intended use or sale, are added to the cost of those a¥sets, until such time as the assets are substaMiglly ready for their Intended use or sale. Inydstmeut income earned on the temporary investment of spedfic borrowings pending their expenditure on qualifying auets is deducted from the cost of thase assets. For spedRc borrowings for the purpose of construction of fixed assea and

   • investment properties, borrowing costs are capitalked even when the construction period is unde‹ 12

     Taxation

     
     
     

     Income tax expense represents the sum of the tax currently payable and deferred tax.

     
     
     

     The tax currenUy payable Is based on taxable profh for the parlod. Taxable profit differs from proflt before taX as reported In the 1nterIm separate income statement because it excludes Items of Income or expense that are taxable or deductible In other pertods (indudlng loss carried forward, If any) and It further excludes items that are never taxable or deducttble.

     
     
     

     Deferred tax Is recognised on significant differences between carrying amounts of assets and liabilities in the Interim separate flnandal statement and the corresponding tax bases used In the computation of taxable proflt and 1s accounted for using balance sheet liability methad. Deferred tax IlabltMes are generally recognbed for all temporary differences and deferred tax assets are recognlsed to the extent that it isprobable that taxable profit will beavailable against whkh deductible temporary differences can be utilised. As at3oJune 2025, the Company had nomaterialtemporarydlfferencesbeMeen the carrying amounts and the tax bases of assets or IiabTlities In the interim separate balance sheet,

     
     
     
     
     
     
     
     
     

     Defened tax Is calculated «t the tax rates that are expected to apply in the perlod when the liability b settled or the asset realised. Deferred tax is charged or credited to profit or loss, except when it relates to Items chargad or credited directly to equity, in whlch case the deferred tax b abo dealt with in equity.

     
     
     
     
     
     

     Deferred taaassets and IlabtIItIes are offset when there Is a legally enforceable rtght to set off current tax assets against current tax liabilities andwhen they rdHe to incomeuxes leded by thesame tax authority

     and the Company intends to settle its current tax assets and liabilities on a net basls.

     The determination of the tax currantly payable b based on the current Interpretation of tax regulations. Howeve, these regulations are sub}ec to periodic variation and their ultimate determination depends on the raults of the tax authorities' examinations.

     
     
     

     Other taxes are psld In accordance with the prevailing tcx laws in Vietnam.

     HOA PHAT GROUP 7OIMT STOCK COMPANY

     NOTES TO THE INTERIM SEPARATE FINANCIAL STATEMENTS (Continued)

     FORM B 09a-DN

2. CASH AND CASH EQUIVALENTg

   Cash on hand

   Bank demand deposits Cash equivalents (i)

   Clodng balance opening balance

   VND VND

   9,429,312,921 383,305,265

   61,079,854,406 46,074,571,676

   751,300,000,000 272,800,000,OOD

   g21,809,167,327 319,257,876,943.

   O'

   
   
   

   (i Cash equivalents represent deposits at commercial banks with original terms not exceeding three months with interest rates from 3.19t per year to 4.75K per year (31 December 2024: from 4.29a per year to 4.759t per year).

   
   
   
   
   
   

   FINANCIAL INVESTMENTS

   
   
   

   1. Short-term financial investments

      " Closing balance openlngbalance

      
      
      

      VND "VND

      Cost Carrying amount cost Carrying amount

      I•IeId-to-maturity investments M8,y6y,090,411 yZ8,767',090,411 381,046,575,34d 281,046,57d,

      - Tern› deposits (i) 22B,767,090,41d 228,767,090,412 y8J,046,S75,84J 281,046,S7S,342

      {l)

      Short-term held-to-maturity investments represent deposits at commercial banks with original terms of more than three months and remaining maturity of less than 12 months from the interim separate balance sheet date with interest rates of 5.79a per year (31 December 2024: from 4.69a to 5.4K per year).

   2. Long-term financial investment