HVC Group successfully held the Annual General Meeting of Shareholders in 2023

On April 26, at the National Convention Center, HVC Investment and Technology Joint Stock Company (HVC Group, stock code HVH) successfully held the Annual General Meeting of Shareholders (AGM) 2023.

Attending the 2023 AGM were the presence of 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 cum General Director, members of the Board of Directors, members of the Board of Management. Director, Supervisory Board (BOS) HVC. In addition, there were also the participation of shareholders - important members of the meeting, press agencies and employees of the company.

2022 – Looking back on the past journey

Reporting at the General Meeting, Board member and General Director Le Van Cuong said that in 2022, the Covid-19 epidemic was basically controlled, Vietnam returned to normal life in the mood of a "normal" state. new". Last year, everyone expected the economy to grow stronger and more vibrant, but the reality was not as expected. High inflation, unexpected movements of the bond market, stock market, real estate market ... made difficulties continue to recur, even some aspects of social life were more stressful than the previous period pandemic.

HVC Group's business line is closely related to the real estate sector, which means that the company is also affected by many impacts such as: "escalating" raw material prices, higher management costs than expected, difficult debt recovery, customer expansion was not as expected… However, with the experience of overcoming difficulties during the Covid-19 years, HVC Group has stabilized the situation, creating many bright spots.

In the field of M&E general contractors, last year, HVC continued to firmly consolidate its position in the Top prestigious and quality M&E contractors in Vietnam by signing many contracts in large projects. Specifically: Vinhomes Dream City, Vinhomes Dai An, The Horizon Bay Ha Long... Completing and handing over projects of Danko City Thai Nguyen commercial center, Vinhomes Grand Park,...

In the field of general contractor of high-end entertainment equipment, HVC still affirms its leading position in the market by cooperating with large investors such as Vingroup, Sun Group, Apec Group, Thang Long Invest, Masterise Home,… HVC has completed and handed over many projects to the investor, such as: Dai An urban mini water park, Novaworld Phan Thiet water park, Son Tien water park, swimming pool system at projects Projects of many reputable investors...

Especially, 2022 marks a major turning point in the field of water music when HVC Group designs and completes the largest water music project in Southeast Asia at The Global City (HCM). Completing the package of equipment supply and renovation of water music in Van Phuc City. Thereby, greatly contributing to raising the brand name of HVC in this field.

Besides, production and investment activities are also interested by HVC, focusing on the motto "Prestige - Creativity - Responsibility".

In the face of difficulties and challenges faced, the Board of Directors and staff have shown their efforts and efforts when exceeding the plan of the AGM in 2022. Specifically, actual revenue of VND 443 billion increased by 15%, profit after tax reached VND 22 billion, reaching 71%, paying dividends to shareholders 10%, reaching 100% of the plan. employees are stable, the company's benefits are better than in 2021.

With this result, shareholders have recognized and highly appreciated the policies and directions of the Board of Directors and the Board of Management in implementing the resolutions of the AGM in 2022.

2023 – Continue to keep the faith

Entering 2023, in the context of socio-economic fluctuations and unpredictable challenges, HVC continues to maintain faith and strives to overcome difficulties to bring benefits to shareholders, customers and employees. employees. Accordingly, HVC sets a production and business plan target in 2023 with a total revenue of VND 443 billion, profit after tax of VND 26.5 billion, and is expected to pay a dividend (in cash or stock) of 10%.

At the AGM of 2023, shareholders approved the report and submission of the Board of Directors, the Board of Directors and the Board of Supervisors on the controlled financial statements for 2022; report on production and business plan in 2023; Proposal for approval of the profit distribution plan in 2022 and other important reports under the authority of the General Meeting of Shareholders. The meeting unanimously approved the issuance of shares to pay dividends in 2022 for existing shareholders, with a dividend rate of 10% on equity.

At the meeting, shareholders asked: “I know the opinion of HVC leaders to minimize the use of bank loans, however, monitoring the growth of the company's outstanding loans from 2020 - 2022 from 65 billion VND to 94 billion VND, I would like to ask HVC leaders how to evaluate this issue?"

Answering this question, Mr. Tran Huu Dong said: "HVC is the main sales contractor from Vingroup. In recent years, Vingroup's investor has used the option of paying contractors in the form of insurance. maths. That is, the investor commits to pay this loan to the bank. So with the figure of 94 billion, HVC actually only borrowed 12 billion from the bank, the remaining 82 billion was factoring. And that also means that the company's receivables will also decrease by 82 billion, the financial indicators will certainly be much better than the audit report.

The view of the Company's leaders is to minimize the use of financial leverage, especially financial leverage from bank loans. In the current difficult period, we still keep the plan to minimize the use of financial leverage to ensure the safety of the company's financial activities."

The General Meeting also conducted the election of the Board of Directors and Supervisory Board for the term 2023-2028. According to the vote counting results, the new Board of Directors consists of 5 members: Mr. Tran Huu Dong, Mr. Do Huy Cuong, Mr. Le Van Cuong, Mr. Truong Thanh Tung and Mr. Dao Thanh Son. The new Supervisory Board consists of 3 members: Ms. Dao Thi Dung, Ms. Ha Thi Linh and Ms. Nguyen Thi Thuy Lan.

At the end of the AGM, on behalf of the Board of Directors of HVC Group, Mr. Tran Huu Dong - Chairman of the Board of Directors expressed his deep thanks to shareholders, partners and customers for always trusting and supporting HVC. At the same time, we want to continue to receive the companionship and support of our shareholders, partners and customers in order to help HVC Group overcome difficulties, realize aspirations, build more values and develop more and more. develop.