HVC Group successfully held an extraordinary general meeting of shareholders, officially launching the first real estate project

On August 16th, HVC Group successfully held the first extraordinary general meeting of shareholders in 2024. During the meeting, beside the content of issuing individual shares to increase charter capital, HVC also officially launched and introduced the real estate project of Garden villas, afforestation combined with eco-tourism in Hoa Binh province.

Two important contents were discussed at the meeting

On the morning of August 16th, at Wyndham Garden Hotel Hanoi, HVC Investment and Technology Joint Stock Company (HVC Group, stock code: HVH) successfully held the 1st Extraordinary General Meeting of Shareholders (EGM) in 2024.

Attending this extraordinary General Meeting of Shareholders there were Mr. Tran Huu Dong - Chairman of the Board of Directors, Mr. Do Huy Cuong - Vice Chairman of the Board of Directors, Mr. Le Van Cuong - Member of the Board of Directors and General Director. The meeting was also attended by members of the Board of Directors, members of the Executive Board, the Supervisory Board of HVC Group and especially the presence of the company's shareholders.

In the opening speech, Mr. Tran Huu Dong - Chairman of the Board of Directors also as the Chairman of the Meeting said: “After years of business, the Company's Board of Directors has carefully and meticulously prepared to enter the real estate investment field. Now, the opportunity is ripe for HVC to decide to invest in real estate. One of the important factors needed when engaging a project is to enhance the financial capacity. Therefore, the main content of this extraordinary General Meeting of Shareholders is that the Board of Directors will present a plan to issue additional shares to increase capital as well as introduce the project in detail so that shareholders can clearly understand, consider and decide.”

On behalf of the Board, Mr. Le Van Cuong presented the proposal for Issuing private shares to increase charter capital. The purpose of this content is to grow the working capital for the company's production and business activities; growing the capital contribution to increase the charter capital of the subsidiary - HVC Ho Guom Hoa Binh Company Limited to execute the project of Garden Villas, afforestation combined with eco-tourism in Mong Hoa Commune (Hoa Binh City, Hoa Binh Province).

The expected amount of capital raised from the share offering to professional investors is 300 billion VND. In which, the company plans to use 250 billion VND to execute the company’s first real estate project.

“Presenting” the real estate project in Hoa Binh

On behalf of the company's board, Mr. Do Huy Cuong - Vice Chairman of the Board of Directors presented a report authorizing the Board of Directors to decide and execute contents related to capital raise, supervising the execution process of the Garden Villa project, afforestation combined with eco-tourism.

The project has a total area of ​​28.17 hectares, with a population of about 1,396 people in Mong Hoa commune (Hoa Binh city, Hoa Binh province). The project includes 2 subdivisions: Northern Europe and Southern Europe with 263 villas designed in European style

The total estimated investment of the project is 791.8 billion VND, including construction costs, site clearance costs and resettlement support. The deployment progress in the period of 2023 - 2026, in specific: from the first quarter of 2023 - the fourth quarter of 2023: carry out the investment preparation procedures; from the first quarter of 2024 - the second quarter of 2026, carry out site clearance, investing in construction of project structural items and rough construction, completing the exterior of the house; in the third quarter of 2026, complete project construction and hand over to operations.

The project has a long-term land-use period for residential land; for commercial and service land, the land use period is 50 years from the date the investor receives the land transfer decision, land lease decision, or land-use change decision from the government.

Until now, 89.95% of land owners and land users of the project have agreed to receive compensation for site clearance. The work of screening for bombs, mines and explosives at the project to ensure safety and overcome the consequences of the war has also been completed. Currently, the project is about to complete legal procedures and prepare to start construction of the model villa.

Previously, the project was approved by the People's Committee of Hoa Binh province to adjust the detailed construction planning at a scale of 1/500 according to Decision No. 3039/QD-UBND dated December 20, 2021.

On March 14, 2023, the People's Committee of Hoa Binh province signed Decision No. 14/QD-UBND on approving the project investment policy. On May 15, 2024, the People's Committee of the province issued a decision approving HVC Investment Company Limited and Hoa Binh Sword Lake as the project investor

In addition, the project has been approved by the Department of Transport of Hoa Binh province for road route and traffic connection points; approved to be supplied electricity by Hoa Binh Electricity Company; approved to be supplied water for the entire project by Hoa Binh Clean Water Joint Stock Company.

Also at the 1st Extraordinary General Meeting of Shareholders in 2024, HVC Group officially launched and introduced to shareholders and the press about the project of Garden Villas, afforestation combined with eco-tourism in Mong Hoa Commune, Hoa Binh City, Hoa Binh Province (trade name is Euro Villas).

Euro Villas is the only project in Hoa Binh that owns the privilege of “lake in the heart of the city” when it is located around the shore of Ho Du and considered as a precious gem of the “epic land”. The project possesses all three proximity points “first is close to the market, second is close to the river, third is close to the road” when it is located next to National Highway 6, about 20km from the center of Hoa Binh City, about 10km from the Da River, and about 60km from the National Convention Center. With this location, residents and visitors can easily travel to neighboring areas and famous tourist attractions of Hoa Binh Lake, Kim Boi mineral spring, Phoenix golf course, Hilltop Valley golf course…

Taking advantages of the local nature, many villas in the project are equipped with private swimming pools, possessing a million-dollar view "leaning on the mountain, facing the water" to welcome prosperity.

Not only a high-end resort, the project also focuses on establishing a chain of utilities, modern and synchronous health and mental care services with a series of valuable utilities such as: a 9-storey hotel apartment complex with a floor area of ​​nearly 1,700m2, restaurant areas, clubhouse, mineral bath spa area, Kidgame area...

Seizing the advantages from nature, the investor is aiming to develop Euro Villas as a Blue Zone land - respecting the natural ecosystem with diverse and rich vegetation, protecting the clean environment and beautiful nature. It promises to bring residents and visitors a living space, relaxing, peaceful, healthy and classy resort in the suburbs.

At the meeting, with 100% of the votes, shareholders approved the report and proposal of the Board of Directors on the proposal for private issuance of shares to increase charter capital and the proposal for authorization for the Board of Directors to execute the real estate project.

At the end, on behalf of the Board, Mr. Tran Huu Dong committed that HVC Group will strive to execute the project on promised schedule and at the same time develop the company further, thereby bringing benefits to shareholders, the Board of Directors and employees of the company.

In the first 6 months of 2024, HVC Group has achieved positive and promising business results. Net revenue achieved 57% of the 2024 plan, up to 52% higher ​​compared to the first 6 months of 2023. Profit after tax achieved 63% of the 2024 plan, 2.24 times higher than the first 6 months of 2023.