(NDH) HVH plans a profit of 80 billion dong, development rate of 57%

According to The Companion Page - Electronic Journal of the Digital Life. See details here. 

HVC Investment and Technology Joint Stock Company (HoSE: HVH) has just announced documents of the 2019 Annual General Meeting of Shareholders discussing the profit distribution plan, business plan for 2019, bond issuance, personnel changes, ...

In 2018, the company recorded double revenue to VND 490 billion. Profit after tax is 51 billion dong, 3.3 times higher than the same period and double the yearly plan. With that profit, the company decided to distribute 20 billion dong to pay 2018 cash dividend of 10%.

In 2019, the company put a business plan with a revenue target of VND 800 billion, up 63%. Profit after tax is expected to be 80 billion, 57% higher than the previous year. The dividend rate is 15%.

HVH said there has been a transition contract from 2018 to a total value of VND 100 billion; The Vincity project which was assigned by Vingroup to deploy the mechanical and electrical equipment, playing equipment, ... worth VND400 billion; Other projects are about VND 350 billion.

In terms of investment, HVH will boost Hung Yen factory's productivity by about 50% compared to the fourth quarter of 2018 average, ensuring 100% of products to ensure technical standards. In addition, the company also plans to enter the real estate market when there is a chance of good profitability.

HVC Hung Yen Factory

At the congress, HVH also asked shareholders about the plan to issue convertible bonds to supplement capital for business activities and investment in real estate projects. The total value of bonds issued is about VND 100-150 billion.

In terms of personnel, the BOD submitted the General Meeting of Shareholders to elect additional members of the Board of Directors, Mr. Haihui Liu, a Chinese national. He is working for the Hong Kong-Clock Group.