AsemconnectVietnam - At the extraordinary General Meeting of Shareholders (AGM) of Ba Ria Vung Tau Housing Development Joint Stock Company (Hodeco - stock code HDC) held this morning, September 30, 2025, Mr. Le Viet Lien, General Director of Hodeco, said that after 9 months, revenue reached VND763 billion, pre-tax profit reached VND666 billion, and after-tax profit was VND533 billion.

It is estimated that for the whole year, Hodeco will achieve revenue of about VND1,080 billion, pre-tax profit of VND755 billion, equal to 142% of the yearly plan, and after-tax profit of VND608 billion, equal to 143% of the plan, an increase of nearly 850% compared to last year.
In 2024, Hodeco plans to have a revenue of more than VND1,600 billion, after-tax profit of VND424 billion. Thus, after 9 months, the annual profit plan has been exceeded. Meanwhile, revenue has completed 65% of the plan, because the financial revenue from transferring shares of the Dai Duong project only records net revenue, not the entire value of the transferred project.
With this business result, Mr. Doan Huu Thuan, Chairman of Hodeco, said that the Company is expected to pay dividends at a higher rate than last year, possibly 20%.
In the preliminary report before the extraordinary General Meeting of Shareholders on production and business activities, Mr. Lien said that Ba Ria - Vung Tau becoming a part of Ho Chi Minh City, the most dynamically developing area, has brought Hodeco into a new stage of development. In the first 9 months of 2025, the real estate market in the country in general and Ba Ria - Vung Tau in particular has not yet fully recovered its liquidity, and customer sentiment is still cautious. Thanks to a flexible adjustment strategy, Hodeco has maintained growth. The company has focused on restructuring investment and transferring projects, bringing in good revenue and profit.
The goal of the last 3 months of the year is to increase project consumption speed, optimize cash flow and increase project value through legal and utility completion. Currently, The Light City project has completed the adjustment of the investment progress of phase 1, adjusted the local planning 1/500 of the school area, worked with state management agencies in changing the land use purpose for the 2nd and 3rd times, and received the handover of 1.1 hectares of land interspersed in the project. Due to administrative mergers, some work has not been completed.
Regarding construction, the park has been completed, and 266 townhouses out of 490 units of phase 1 have been built.
Ngoc Tuoc 2 project has handled 3 cases of undelivered land and completed procedures for granting land use right certificates to customers. Successfully transferred shares of Dai Duong project, worth nearly VND2,000 billion. Tay 3/2 project adjusted planning and continued to implement the project. Phuoc Thang Urban Area project is completing procedures for transferring 1 more hectare of land. Long Dien project has completed and submitted documents for transferring 8 more hectare. Bien Da Vang project, target ownership up to 99%. Co May, Tran Phu, Wonderland projects continue to complete procedures.
Maintaining a healthy financial structure, total revenue of more than VND2,250 billion, including more than VND1,250 billion from customers, VND426 billion from loans and VND875 billion from other sources.
The company has been proactive in investing in a reasonable capital structure. Specifically, the total expenditure reached VND2,285 billion, of which VND886 billion was spent on the project, VND1,062 billion was paid for principal and interest on bonds, the rest was paid for taxes and other expenses. After successfully issuing VND500 billion of individual bonds, the company is also preparing to issue convertible bonds to supplement capital for strategic projects.
Credit loans are disbursed on schedule. Cash flow management is tightened, ensuring liquidity and supporting business investment implementation.
Hodeco's Board of Directors has set out a number of specific tasks for the last 3 months of the year, including promoting sales at key projects to maximize profits such as The Light City, Ngoc Tuoc 2 and the CC1 social housing area, especially at the end of the year, there will be a sale of more than 40 products of The Light City.
N.Nga
Source: VITIC/Tinnhanhchungkhoan