Shareholders scrutinize VCG's price; what does Vinaconex say?

At the 2026 Annual General Meeting, many Vinaconex shareholders expressed concern over the poor performance of VCG shares despite the company winning numerous large projects. Company leaders explained the reasons and affirmed their strategy to ensure long-term value for shareholders.

Vinaconex leaders answer shareholders' questions about VCG share price movements at the 2026 Annual General Meeting.

Recently, Vietnam Construction and Import-Export Corporation (Vinaconex, ticker: VCG) held its 2026 Annual General Meeting of Shareholders in Hanoi , approving all important proposals. However, the focus of the discussion revolved around the price movements of VCG shares, a matter that received many questions from shareholders.

According to shareholders, despite Vinaconex consistently winning bids for large-scale projects such as Long Thanh Airport and the North-South Expressway, its share price remains sluggish, even facing strong selling pressure in many periods. This has led many investors to question the market's ability to reflect the company's true value.

Responding to this issue, Mr. Nguyen Xuan Dong, General Director of Vinaconex, stated that stock price movements are heavily influenced by market factors, especially foreign capital flows. Recently, there has been a significant trend of foreign funds withdrawing capital due to exchange rate fluctuations and global capital flows.

According to Mr. Dong, the net selling pressure is not unique to VCG but is a general trend in the market. Once a stock is listed, its price will move according to the law of supply and demand, and the company cannot directly intervene in the market price.

"There are times when stocks rise, but then selling pressure from funds emerges, causing prices to reverse and fall. This is a market-driven development," Mr. Dong shared.

Despite acknowledging the less-than-positive price movements, Vinaconex's leadership affirmed that the company always aims to ensure long-term benefits for shareholders. Accordingly, a strategy of safe and efficient management, investment efficiency, and asset value appreciation remains the top priority.

In 2026, Vinaconex plans to maintain a dividend payout of approximately 16%, comprising 8% in cash and 8% in shares. The management believes this is a reasonable payout level, ensuring a balance between shareholder benefits and reinvestment needs.

Mr. Nguyen Xuan Dong emphasized that investing in VCG yields stable returns, although it may not generate a "sudden" price increase like some other stocks on the market. In the long term, when market conditions are more favorable, the share price is expected to improve, accurately reflecting the intrinsic value of the company.

In addition to its traditional construction activities, Vinaconex is accelerating its expansion strategy into the environmental sector through an investment of over 1,000 billion VND in the Vietnam Water and Environment Investment Corporation (Viwaseen - ticker VIW).

According to business leaders, the water supply and wastewater treatment sector still has significant growth potential. Currently, the nationwide demand for clean water is approximately 14 million m³/day, while the wastewater treatment capacity is only over 2 million m³/day.

Viwaseen currently owns 6 factories with a total capacity of approximately 200,000 m³/day, along with a system of subsidiaries and potential land reserves. Vinaconex plans to leverage its construction strengths to implement projects in this field, while also seeking experienced partners to enhance investment efficiency.

The company also expects that future wastewater fee policies will provide impetus for growth in this new business segment.

In 2026, Vinaconex aims for total revenue and income of VND 15,423 billion, a 22% decrease compared to the previous year. Net profit after tax is projected at VND 1,037 billion, a sharp decrease of 73%.

Company leaders explained that this decline stemmed from the high comparison base of 2025, when the company recorded a record profit of VND 3,865 billion, mainly due to divestment from the Cat Ba Amatina project.

In the first quarter of 2026, Vinaconex recorded consolidated revenue of VND 3,708 billion and after-tax profit of VND 380 billion, indicating that its core business operations remained stable.

In the context of a volatile market, Vinaconex has chosen a strategy of balancing growth and risk control, while gradually expanding into areas with long-term potential.

Although the share price has not met expectations in the short term, the company's management affirms that it will continue to focus on its internal strengths, considering this a key factor in increasing shareholder value in the medium and long term.

Source: https://thoibaonganhang.vn/co-dong-soi-gia-vcg-vinaconex-noi-gi-181210.html