HVC holds the Annual General Meeting of Shareholders, Approved many important contents

     Recently, HVC Investment and Technology Joint Stock Company held the General Assembly of Shareholders in 2018, approved many important contents such as business results in 2017 and business plan in 2018, changes BoD member, bringing the total investment of HVC Hung Yen factory and plan to geton HOSE in 2018.

      According to financial report at the congress, HVC achieved revenue of 246 billion dong, after tax profit of 15.5 billion dong, reaching 107% of the plan.

     In 2018, HVC plans to achieve revenue of VND320 billion, improve 30% comparing to 2017 and net profit of VND32 billion, raising 66% as of last year. HVC plans to pay 10% dividend by 2018.

     In the year 2017, HVC has also started construction of infrastructure and workshops in Hung Yen province to produce and install ventilation, cable ladder and electrical cabinets to directly serve the M & E sector. This initial investment is 60 billion dong and the General Shareholders' Meeting unanimously approved the increase of total investment to 80 billion dong. The additional amount is used to invest in the land rent for 50 years and construction of next stage infrastructure for  HVC Hung Yen. "For HVC products in HVC - Hung Yen, HVC will produce good quality products at reasonable prices," said Tran Huu Dong, Chairman of HVC.

     One of the important issues approved by the shareholders at the meeting is that the company will get on the HOSE in 2018. This is the plan that HVC cherishes to increase transparency. The General Meeting of Shareholders has also approved the amendment of the charter and management regulations to be in line with the common standards for this plan. In addition, HVC has started to apply management procedures such as performance appraisal by KPIs, building corporate culture ...

     For business activities in 2018, HVC will strongly develop the M & E general contractor with over 50% revenue and 70% sales volume. In 2010, M & E accounted for 23% of HVC's revenue, reaching over 50 billion VND, accounting for 46%. Projects involving HVC in the M & E sector include Vinhomes Riverside, Vinmart - Vincom Ha Tinh, The Harmony, Vinpearl Cua Sot, Vinhomes Golden River, Vinhomes Imperial Hai Phong ... HVC has a 100 billion M & E contract at Vinhomes Imperial Hai Phong with 75% of the value to be implemented in 2018.

     Explaining this goal, Mr Tran Huu Dong said: "The technology equipment sector is not possible for high growth, because it is not dependent on the real estate market but depending on the ideas of investors, The forecasting task is very passive. Meanwhile, M & E is closest to the core field of HVC, so in the future, the company will promote this array.

     A representative asked whether HVC had ambitions for M & A in the real estate sector. In response to this, Mr Tran Huu Dong said, "M & A has been set up since mid-2017. Our industry is working closely with real estate, so we also learn some experiences from the owners. In 2017, HVC has negotiated with many investors and there is projects which have came very close to the acquisition, but probably lacked the word 'charm'. In 2018, HVC can think of M & A businesses in the same industry if those companies has financial difficulties. "

At the meeting, the shareholders voted to approve 12 important contents as follows:

• Report of BOD's activities in 2017 and plan for 2018

• Report on the activities of the Board of Supervisors and verify the financial statements of 2017, the plan of 2018 of the Board of Supervisors.

• The audited financial statements for 2017

• Profit distribution plan for 2017

• Approved the change of Board members

• Approved raising the total investment of Hung Yen HVC Co., Ltd

• Approved the plan to join HOSE

• Approved 2018 production and business plan and dividend payment plan 2018

• Approval of the Charter Amendment

• Amendments to the governance regulations

• Approved the Board of Directors to select auditors for the 2018 financial statements

• Approved the remuneration for BOD and Supervisory Board in 2017, approved by the Board of Directors and the Board of Supervisors

     HVC was established in 2010 and has chartered capital of VND200 billion, over 70% of which is held by the company's employees.

     In the field of swimming pools, HVC is in the top of Vietnam in terms of import, distribution and installation. Report of the Board of Directors said that in 2017, the company provides swimming pool equipment in Vietnam with nearly 350 swimming pools, 5 water parks were HVC completed and handed over to the owner to operate as Ocean Park - Sungroup; Ha Tinh, Phu Quoc Casino - Vingroup; Muong Thanh; Thai Binh - Tan Binh Company; and many fountains, pools of GYM Spa at the resort, amusement park ...

     Speaking at the congress, on behalf of the Presidium, Mr. Tran Huu Dong is happy to share about the achievements of HVC has achieved in the past. He said, "The advantage of HVC is business leadership, the biggest asset is the leadership. We have a relatively well-fitting frame. Since then, the way of management is different from other businesses. Hopefully in the 10th year - the beginning of the start-up process, the stature of HVC will be raised to new levels. "

Business targets for 2017, business plan 2018 was approved by the Congress: