General Meeting of Shareholders of HVC Group 2020: Be cautious in production and business plan to accomplish the set goals

That is the information given at the Annual General Meeting of Shareholders of HVC Investment and Technology Joint Stock Company (HoSE: HVH) which took place at the National Convention Center (Hanoi) on the 24th. / 06/2020. The plan is carefully designed to ensure that it is fully fulfilled against the severe impact of COVID-19 on the global economy of Vietnam

2019 with recorded results

To sum up in 2019, HVC Group reached VND 526.3 billion of consolidated revenue and VND 46.2 billion of profit after tax, reaching 66% and 58% of the plan, respectively.

These are considered positive results when placed in the context that 2019 is not considered a favorable year for the construction industry in the whole country in general and HVC in particular when the real estate market shows signs of slowdown, many projects meet difficulties in capital sources or delay in approval of legal procedures, this have made new sources of jobs for construction enterprises limited, revenue and profit of many leading construction enterprises also decreased and not achieve the target

In the field of electromechanical general contractor, in 2019, HVC Group has completed and handed over to investors many large projects. The most significant of these is the package at Vincom Cam Pha project, F1 Hanoi racing track, some items of Vinhomes Ocean Park and Vinhomes Smart City projects ... With this acceleration in early June 2020, HVC Group has independently evaluated as TOP 5 of prestigious M&E contractors in Vietnam.

Infinity pool at Sunshine City apartment project

In the field of General Contractor of amusement equipment, in 2019 HVC Group has pushed the progress of An Giang Cam Mountain Water Park Project, expanded Vinpearl Land Water Park and signed a new Son Tien Water Park project; Complete the water park Alma Khanh Hoa. Constructing a series of swimming pools at the project such as: Madison Ho Tram Resort and Spa; Swimming pool of Sunshine City apartment project; the great swimming pool project Vinhomes Ocean Park ....

In addition, the Company is also stepping up investment in the equipment factory in Hung Yen by importing modern machinery systems to increase productivity and product quality. Products at the factory serving HVC Group projects of construction and commercial sale are highly appreciated by customers.

Set a careful plan during difficult times of general disease

Entering 2020, the business situation of HVC Group as well as businesses in the same industry is facing many difficulties right from the first days of the year when the COVID-19 pandemic caused severe social and economic impacts. disrupting supply chains, manufacturing, services, and trade. Even, many analytical organizations have predicted the risk of a global economic recession could return.

In that context, at the newly held annual general meeting, HVC Group set a business target for this year of 520 billion in revenue and 32 billion in profit after tax.

Although the revenue and profit plan has decreased, but it is considered by the company leaders to be the prudence necessary for HVC Group to ensure the completion of the planned goal and proactively respond to the new situation. to prepare the development platform in the following years.

Also at the meeting, HVC leadership set a series of new directions such as finding new strategic partners to expand markets and improve governance capacity; Find the right time to invest in resort real estate; promote the application of information technology and digitalization to production; Parallel with the continuous promotion of strengths in high-class entertainment equipment projects.

At the meeting, Mr. Tran Huu Dong, Chairman of the Board of Directors, also openly and frankly answered the questions of Shareholders around issues of business plan, the use of capital, ...

The Meeting agreed to approve the reports, in addition, the Company also elected Mr. Truong Thanh Tung to be added to the Board of Directors after approving the resignation letter of Mr. Tran Van Duy's Board member; electing Ms. Nguyen Thi Hoa and Ms. Do Thi Le to the Supervisory Board after approving the resignation of the members of the Supervisory Board of Mr. Vu Danh Lam and Ms. Le Thi Thu Huong.