(ĐTCK) HVC Group AGM: Profit plan increased by 57%

Thus, in 2019, this year's profit plan increased by more than 57% of the results achieved in 2018.

The Board of Management also submitted the plan, if it exceeds the 2019 plan, it will deduct 10% of the excess of the after-tax profit plan for the Board of Management and supervising department of the company.

In 2018, the company set a target of VND 320 billion in revenue and VND 25.6 billion in after-tax profit, and the results exceeded 53% and 99% of the annual plan, respectively with a profit of VND 50.9 billion. . With this result, HVC plans to pay 10% cash dividend to shareholders.

Mr. Tran Huu Dong - Chairman of HVC Group said that the basis of this growth plan is based on the number of contracts that HVC signed to transfer from 2018 to 2019 (about 100 billion dong) and number of contracts are expected to be signed in 2019, including the M&E contract at the VinCity project (VND 400 billion), general contractor of Van Phuc Trade Center and Office and a number of projects like water parks, swimming pools.

Oriented for 2019, HVC will continue to consolidate its leading position in the general contractor of high-class entertainment and recreation areas, improve production efficiency of HVC Hung Yen factory, improve project management and control. Mechanical and electrical control of HVC M&E Co., Ltd. In addition, HVC also said that it will invest in developing real estate field when the market appears to have good profitability opportunities.

Water park project at Cam Mountain - An Giang HVC has just signed a successful contract on 4/2019

Responding to questions of shareholders about the ability to expand more areas of the company's operations, Mr. Dong said, for the entertainment equipment market, HVC has participated deeply with many related items. In the future, we will also import and transfer adventure equipment for amusement parks.

Vietnam currently has great potential for tourism with a long coastline with many advantages, such as Nha Trang can exploit tourism up to 10 months / year. With great potential, when large enterprises invest in resort real estate, it often leads to high-class entertainment areas, with the orientation of developing tourism, so in the next 3-5 years the field of equipment entertainment is still great for HVC to break through.

For M&E segment, 2018 contributed 40% of total revenue, expected to increase by 10-15% in 2019, contributing over 50% of HVC's revenue.

Vincom Cam Pha - one of the HVC Group projects to be M&E general contractor in 2019

HVC has officially participated in the M&E segment  for nearly 2 years but has been ranked Top 10 prestigious mechanical and electrical contractors in 2019, we set the target of 2020-2021 to top 5. " This market is still Huge for HVC development, "said Mr Tran Huu Dong.

In addition, the company also proposed a plan to issue convertible bonds for the total value of VND 100-150 billion to ensure capital sources meet development needs, help the company to achieve the business production targets of 2019 which have set out. This plan does not have details about the time, method of issuance as well as selling price but the management board shared that this plan is expected to serve the big project that HVC will implement in the next few months.

The new Board of Directors at the meeting

The Congress agreed to approve the HVC reports, in addition, the Company also elected Mr. Haihui Liu to the Board after dismissing the Board members for Ms. Vu Thi Nga.