[Kinhtedothi] HVC Group establishes a growth target of 50% and ventures into real estate

Kinhtedothi - Despite numerous challenges, HVC Group remains committed to achieving a minimum growth target of 50% in 2024 compared to 2023, driven by pragmatic strategies. Concurrently, it will venture into the real estate sector...

According to the Kinhtedothi.vn newspaper, for comprehensive information, please refer to Here!

On April 23, 2024, in Hanoi, HVC Investment and Technology Joint Stock Company (HVC Group) convened the 2024 Annual General Meeting of Shareholders to present the operational, production, and business results for 2023, as well as to outline the production and business plan for 2024. During the event, shareholders ratified the report and its submission in compliance with regulations.

Board member and General Director Le Van Cuong presented the production and business results for 2023. Given the specific business lines closely associated with the real estate sector, HVC Group faced significant and direct challenges last year. Management costs exceeded expectations, and debt collection proved increasingly difficult, leading the company to hesitate in enhancing sales.

"Although HVC Group's revenue achieved only 60% of the target, it remained profitable, thereby securing employment and stability for its workforce. This can be regarded as the most positive aspect of HVC Group over the past year, especially in comparison to numerous companies within the same industry," he stated.

In 2023, HVC distributed a 10% dividend to existing shareholders in the form of shares, achieving 100% of its planned target. Consequently, the company's charter capital rose to over 406 billion VND.

In the realm of operations, Vice Chairman of the Board of Directors Do Huy Cuong takes pride in HVC's successful completion and handover of the Vinhomes Dream City project (Ocean Park 2), Apec Mandala Sky Villa Hoa Binh, along with various packages encompassing infrastructure mechanical and electrical engineering, hotel mechanical and electrical engineering, and luxury villas.

HVC Group continues to secure numerous high-value contracts at Vinhomes Dai An (Ocean Park 3), Vinhomes Dream City, Vinhomes Bac Luan Mong Cai, and The Global City. Notably, the general contract package for M&E infrastructure at The Global City project represents one of the largest contracts ever signed by HVC Group. The company's dedication and ambition to achieve new heights were swiftly acknowledged as it ascended into the Top 10 Vietnamese M&E Contractors.

Furthermore, HVC Group reaffirmed its stance by entering into a comprehensive contract for the design, construction, installation, and technology transfer of the remarkable water music show at Mega Grand World Hanoi (Ocean City).

The year 2023 is regarded as a successful period for HVC in the domain of swimming pool design and construction, marked by the completion of a series of infinity pools, villa pools, outdoor pools, and four-season saltwater pools at projects including Apec Mandala Wyndham Mui Ne, Vinhomes Dai An, Vuon Vua Resort & Villa, Eurowindow Twins Parks, and Vinhomes Star City. Concurrently, numerous new swimming pool projects were initiated at L'Aurora Phu Yen, InterContinental Residences Ha Long Bay, and Vinhomes Bac Luan Mong Cai.

Following an extensive process of production, investment, research, and rigorous testing, HVC Group's electrical cabinets have successfully undergone evaluation and received the KEMA Type Test Certificate from KEMA (Netherlands). This significant milestone instills complete confidence in HVC Group's ability to design and manufacture high-quality products that adhere to international standards, all while ensuring rapid progress and competitive pricing.

Chairman of the Board of Directors Tran Huu Dong provided extensive information and addressed inquiries concerning the real estate project. By the conclusion of 2023, only a minor portion of the completed volume that generated revenue in 2023 had been executed. The total value of contracts signed in 2023, which will be transitioned to implementation in 2024, amounts to 360 billion VND.

From early 2024 to the present, HVC Group has entered into contracts with investors totaling nearly 60 billion VND. Currently, HVC Group is actively engaged in negotiations to secure additional contracts. Based on the signed agreements and forthcoming initiatives, HVC Group aims to achieve a growth rate of at least 50% in 2024 compared to 2023.

After conducting thorough research and evaluating the project's feasibility, HVC Group intends to invest in the "Garden Villa Area, Afforestation Combined with Eco-Tourism" project in Mong Hoa commune, Hoa Binh city (Hoa Binh province). The project encompasses an area of 28.74 hectares with a total investment nearing 800 billion VND. Its objectives include enhancing land use efficiency, generating employment opportunities, establishing a housing fund for Hoa Binh city, and contributing to socio-economic development while increasing state budget revenue. Currently, HVC Group is in the process of submitting documents for investor approval, which is viewed as a foundational step for businesses to invest in the challenging real estate sector, as noted by a representative.

HVC Group was founded on March 21, 2011, and presently collaborates with Vingroup, Sungroup, Doji, Delta, Apec, Danko, Thang Long Invest, Phenika, Novaland, Bitexco, Alma, Sigma, Suoi Tien, BIM Group, Masterise Home, Van Phuc Group...