AsemconnectVietnam - On June 12, the General Meeting of Shareholders of Chuong Duong Joint Stock Company (code CDC - HOSE) approved the 2025 business plan with revenue of VND3,053 billion and pre-tax profit of VND48.5 billion, respectively increasing by 161% and 316% compared to 2024.

Mr. Van Minh Hoang, General Director of CDC, said that for construction and installation activities, the Company will develop projects and marketing activities for bidding for infrastructure, transportation and industrial projects; increase the winning rate to at least 30% of the total number of projects participating in bidding. At the same time, build strategic cooperation relationships.
For commercial business activities, CDC will focus on internal supply sources, especially social housing projects in Dong Nai; Increase cement sales to units that are constructing public investment projects, partners that are doing business with the parent company and subcontractors.
"Regarding real estate investment and business activities, we will promote the establishment of procedures to request competent authorities to grant Certificates to residents of Tan Huong Tower and Chuong Duong Home social housing projects to ensure completion in 2025. At the same time, we will launch the sale of apartments for the Long Binh Tan social housing project...", Mr. Hoang informed.
According to the 2025 investment plan, the total investment value of the enterprise is expected to reach VND845 billion, focusing mainly on the real estate sector, especially the Central Garden 2 project in Hoc Mon (HCMC).
Specifically, the Central Garden 2 project has a scale of 13.5 hectares, implemented in two phases. Phase 1 covers an area of 4.2 hectares with a total investment of VND2,502 billion, phase 2 expands by 9.3 hectares with an investment of up to VND3,424 billion. In 2025, the disbursement plan for this project is VND450 billion. The project includes a 20-storey apartment complex, 90 villas (area of 160 m²/unit, 4 floors), 187 townhouses (100 m²/unit, 4 floors) and 112 shophouses (100 m²/unit, 4 floors).
In addition, Chuong Duong also implements the Dong Cau Huong An residential area project in Quang Nam, with a scale of 22.4 hectares and a total investment of VND788 billion. In 2025 alone, the disbursement value for this project is VND35 billion.
In addition to specific projects, the 2025 investment plan also allocates VND250 billion for other real estate projects, VND100 billion for mergers and acquisitions (M&A), and VND10 billion for investment in machinery and equipment.
Regarding the plan to increase charter capital, Chuong Duong has approved the plan to offer 30 million individual shares to professional securities investors at a price not lower than VND12,000/share. The selected investor will be able to advise on management and operations, in line with the Company's development goals.
The total amount expected to be raised from the offering is VND360 billion, Chuong Duong will use VND81.34 billion to contribute capital to Chuong Duong Homeland Joint Stock Company; VND67.25 billion to implement the Social Housing Project at Apartment Land No. 3 in Area B - Nam Cau Cam Le Residential Area", the remaining VND211.4 billion to restructure short-term bank loans.
In case of urgent need to contribute capital to Chuong Duong Homeland first, the Company will use other capital sources to implement and use the capital obtained from the offering to repay later.
After successfully increasing capital, Chuong Duong's charter capital will increase from VND439.8 billion to VND739.8 billion. The expected implementation time is in 2025 - 2026, after being approved by the State Securities Commission.
In 2024, Chuong Duong will not pay dividends. After-tax profits (after being allocated to funds) will be retained to supplement business capital, increase equity capital to improve competitiveness and invest in development of the Company.
Regarding personnel, the congress agreed dismissed two members of the Board of Directors, Mr. Dao Van Son and Mr. Tran Mai Cuong, and appointed Mr. Robert James Field McPhail (British nationality) as an independent member of the Board of Directors and Mr. Vo Quoc Khanh as a member of the Board of Directors for the 2023-2028 term.
At the end of the meeting, all proposals were approved.
N.Nga
Source: VITIC/Tinnhanhchungkhoan