On March 31, VINAHUD Housing and Urban Development Investment Company (VHD) held the 2022 Annual General Meeting of Shareholders in Hanoi.
At the meeting, the shareholders unanimously approved the report on business results in 2021 and the plan in 2022; Audited financial statements for 2021; Plan for distribution of profit after tax in 2021. Report of the Board of Directors on the management of production and business activities in 2021 and orientation in 2022.
Reporting at the congress, Vinahud’s leadership said that in 2021, despite being heavily affected by the Covid-19 epidemic, VINAHUD still exceeded the set operating plan. According to the audited report, in 2021, the company achieved revenue of more than 357 billion VND, profit after tax reached more than 13 billion VND.
In the 2022 plan, VINAHUD sets a target of 1,195 billion VND in revenue, 181 billion VND in after-tax profit, equivalent to 334.36% and 1,389.52% respectively compared to 2021.
At the meeting, the shareholders also approved the issuance of shares to increase the charter capital of the Company, authorizing the Board of Directors to organize the implementation. Accordingly, in 2022, VINAHUD will issue shares to existing shareholders at the ratio 1:3 (shareholders who own 1 share are entitled to buy 3 new shares at the issue price of 10,000 VND/share).
According to the Board of Directors of VINAHUD, this plan will raise an additional VND 1,140 billion, which is expected to be used to increase the ownership rate to the largest possible extent in existing projects in order to actively control business investment activities, such as: Vien Nam ecological urban area and entertainment project in Quang Tien commune, Hoa Binh city; Grand Mercure Hoi An project in Dien Ban town, Quang Nam province; ParaHills Hoa Binh Resort and Spa project in Binh Thanh and Thung Nai communes, Cao Phong district, Hoa Binh province. Supplementing working capital for commercial real estate purchase and sale to supplement revenue in 2022.
Shareholders attending the meeting also approved plans related to dismissal and election of members of the Board of Directors. In this term, the new Board of Directors has the presence of Mr. Nguyen Dinh Ngon – currently Chairman of the Board of Directors of AAA Insurance JSC, member of the Board of Directors of Capital Securities JSC, Chairman and General Director of VIG Automotive Investment JSC; Mr. Nguyen Ho Nam – Chairman of Bamboo Capital, Mr. Tran Son Hai – Vice Chairman and General Director of Tien Phong Securities Joint Stock Company.
The General Meeting also accepted Mr. Truong Quang Minh’s resignation from the position of Chairman of the Board of Directors and elected Mr. Nguyen Dinh Ngon as the new Chairman of VINAHUD. At the General Meeting, VINAHUD elected to replace and supplement members of the Board of Directors, including Mr. Nguyen Dinh Ngon holding the position of Chairman of the Board of Directors, Mr. Truong Quang Minh – Vice Chairman of the Board of Directors; Mr. Tran Son Hai – Vice Chairman of the Board of Directors and Ms. Pham Thi Hanh Vice Chairman of the Board of Directors; Mr. Nguyen Ho Nam – Member of the Board of Directors.
Speaking after becoming the new Chairman of VINAHUD, Mr. Nguyen Dinh Ngon assessed: “The year 2022 is a pivotal year, a crutial year that creates new opportunities and positions for VINAHUD to build its brand and affirm its position in the world. market and create a premise and orientation for VINAHUD to list securities on HOSE.”
According to Mr. Ngon, the trend of the real estate market is changing currently, the game gradually for units with great financial potential, methodical, systematic and transparent investment is a challenge, but also a great opportunity. In 2022, VINAHUD’s goal is to launch the real estate market at the Vien Nam ecological urban area project, with a scale of 65ha in Quang Tien commune, Hoa Binh city, Hoa Binh province.