VINACONEX SUCCESSFULLY HOLDS ANNUAL SHAREHOLDERS' MEETING 2025
Tue , 22/04/2025, 10:00:00 (GMT+7)
On the morning of April 21, 2025, VINACONEX Corporation successfully held its 2025 Annual General Meeting of Shareholders. With high consensus among attendees, the meeting approved the results of business operations in 2024 and the business plan for 2025, which includes projected growth in revenue and profit, as well as addressing several key issues related to the enterprise's development direction.
On April 21, 2025, the annual shareholders' meeting was held in a formal and professional atmosphere, chaired by Chairman of the Board of Directors Nguyen Huu Toi, General Director Nguyen Xuan Dong, and Deputy General Director Duong Van Mau.
In his report to the meeting, General Director Nguyen Xuan Dong highlighted that despite the overall economic challenges in 2024, VINACONEX continued to grow and perform effectively across its three core pillars: construction, real estate, and financial investment. The corporation's profits exceeded the set targets and grew significantly compared to the previous year. Consolidated revenue reached VND13.176 trillion, with a net profit of VND 1.108 trillion, which was 117% of the target and 280% compared to 2023. The holding company contributed VND 9.746 trillion in revenue and VND 861 billion in net profit, meeting 100% of the target and 391% of 2023's performance, marking the highest results in recent years. The dividend rate stood at 16%, reaching 160% of the target and 133% of 2023’s performance.
Looking ahead to 2025, the corporation has set ambitious growth targets. The consolidated revenue and holding company’s revenue are projected to reach VND 15.5 trillion and VND 11.5 trillion, respectively, which is 118% of the 2024 figures. The consolidated and parent company’s net profit is expected to be 1.2 trillion VND and 1 trillion VND, respectively, representing 108% and 116% of 2024 results. The dividend rate remains at 16%, in line with the previous year.
During the AGM, the shareholders voted to approve important matters concerning the Corporation’s strategic development, as well as officially relieved Mr. Dao Ngoc Thanh and Ms. Tran Thi Thu Hong from their roles as members of the Board of Directors. Additionally, two new members, Mr. Tran Dinh Tuan and Mr. Le Minh Tu, were elected to the Board.
In his remarks to shareholders, Chairman of Strategic Council Nguyen Huu Toi stated that VINACONEX would continue to develop based on three pillars: construction, real estate investment, and financial investment. The focus will be on enhancing the corporation’s construction contracting capabilities, expanding targeted investment activities, and developing a sustainable business ecosystem. The corporation will also drive innovation, apply AI to improve labor productivity, and increase operational efficiency across the entire system, ensuring that VINACONEX moves forward with Vietnam into a new era of national growth.
In 2024, VINACONEX implemented a comprehensive set of solutions to optimize costs and enhance operational efficiency across its three core areas: construction, real estate investment, and financial investment. VINACONEX continues to assert the leading contractor's capacity In 2024, VINACONEX maintained the strong focus on major projects in transportation, airports, large bridges, modern industrial complexes, and high-demand FDI projects, which require high technical, aesthetic standards, as well as strict adherence to quality and timelines. These efforts reaffirm VINACONEX's position as one of the leading contractors in Vietnam and the region. Bidding and project searching continued to be a highlight of VINACONEX’s construction activities in 2024. The total value of new contracts secured in 2024 exceeded VND11.6 trillion, ensuring stable work opportunities for 2025 and beyond. Key projects include the North-South Expressway, Ring Road No. 3.5 in Hanoi, the Hoa Binh – Moc Chau Expressway, Long Thanh International Airport, the T2 Terminal expansion at Noi Bai International Airport, and the Nam Dinh General Hospital, etc. As for FDI projects, VINACONEX signed multiple contracts with Taiwanese investors (Huayi, Cheng Loong) and is actively engaging with major contractors from South Korea, China, Taiwan, and Japan for collaboration on additional FDI projects. Several VINACONEX projects completed in 2024 exceeded deadlines and were highly appreciated by the government, ministries, local authorities, and investors. Expanding real estate presence in key economic regions VINACONEX continues to solidify the position in the premium real estate market with landmark projects such as the Vinaconex Diamond Tower office building and the Vinaconex Green Diamond residential complex in Hanoi. These projects not only demonstrate VINACONEX's ability to create modern, high-end living and working spaces but also highlight the strong market appeal, with excellent profitability. Real estate projects marking VINACONEX's significant expansion in key economic regions are accelerating. Notable examples include the completed technical infrastructure of the Hoa Binh Boulevard urban area project in Mong Cai city, which is now legally ready for Phase 1 sales; the KM3-KM4 Hai Yen project in Mong Cai, which recorded business results in 2024; and the Cat Ba Amatina project in Hai Phong, which has completed basic infrastructure and is expected to launch products in 2025. Other ongoing projects include office buildings for rent in Trung Hoa – Nhan Chinh and Kim Van – Kim Lu urban areas (Hanoi), mixed-use VINACONEX 1 buildings, and the Ngan Cau urban area in Quang Nam (VINACONEX 25). The Corporation is also exploring investment opportunities in urban and industrial park projects in Hanoi, Quang Ninh, Phu Tho, Vinh Phuc, Khanh Hoa, and Ho Chi Minh City. Regarding industrial real estate, the Hoa Lac High-Tech Park continues to see comprehensive infrastructure development, with a strong focus on attracting tenants. The Dong Anh Industrial Park project, covering nearly 300 hectares with an investment of approximately VND 6.338 trillion, has received approval from the Prime Minister, with VINACONEX designated as the project’s implementing investor. Enhancing production and business efficiency from sustainable financial investment activities Despite general challenges, VINACONEX's subsidiaries across the system have achieved strong profits, with several units generating over VND 1 trillion in revenue, such as VINACONEX CM, VINACONEX 25, and VIWACO. Monitoring and supervision of subsidiary operations have been strengthened in line with corporate law regulations, improving operational efficiency and benefiting the overall corporation. |
