Mr. Bui Thanh Nhon said that this enterprise will open more housing segments for middle-income people - Photo: NV
On the afternoon of April 24, speaking at the 2025 annual shareholders' meeting, Mr. Bui Thanh Nhon - Chairman of the Board of Directors of Novaland - said that 2025 will be the year marking the return of this enterprise with a new strategy, opening up a new housing segment for middle-income people.
This strategy does not bring much profit but will be sustainable because it has a stable cash flow for Novaland and follows the national development strategy, according to Mr. Nhon.
Specifically, Mr. Nhon said that Novaland is asking for permission to convert Phu Dinh port area (District 8, Ho Chi Minh City) of nearly 50 hectares and Quan Tre area (District 12, Ho Chi Minh City) of nearly 10 hectares into social housing and housing for middle-income people.
However, due to the project's legal problems not being completely resolved, there are still some requests from customers and partners that have not been resolved.
According to Mr. Nhon, over the past 3 years, due to legal problems, the group has not collected sales revenue but has had to pay interest of more than 40 billion VND per day, depleting resources.
“Financial losses are still not as bad as the loss of customer trust,” said Mr. Nhon.
In 2025, Novaland set out two business plan options with expected revenue growth of 15-48%, but both options resulted in losses. Option 1 had net revenue of VND13,411 billion, loss after tax of VND12 billion, and option 1 had net revenue of VND10,453 billion, loss after tax of VND688 billion.
This year, Novaland aims to hand over 1,546 products from projects, of which the fourth quarter is identified as the peak handover period and Novaland aims to issue nearly 7,000 pink books to residents in 2025.
Elect 2 new members of the Board of Directors
In addition, the congress also approved important contents such as canceling the plan to issue a maximum of 1.17 billion additional shares to existing shareholders and replacing the plan to issue a maximum of 200 million individual shares with a plan to issue a maximum of 350 million individual shares to a maximum of 20 professional investors, with an issuance price of VND 10,000/share.
The congress also approved the resignation of Mr. Ng Teck Yow as a member of the Board of Directors and the resignation of Ms. Nguyen My Hanh as an independent member of the Board of Directors, and elected and completed the executive board with two new members of the Board of Directors, Mr. Duong Van Bac and Mr. Doan Minh Truong.
This year, Novaland plans to issue shares under the employee stock option program (ESOP) to replace the issuances that have not been implemented in the past 3 years with 2 approved ESOP issuance plans in 2025 with a total issuance ratio of 5%, the total number of shares expected to be issued is 97,505,226 shares.
Source: https://tuoitre.vn/novaland-xin-chuyen-2-du-an-lon-o-tp-hcm-sang-nha-o-xa-hoi-nha-o-cho-nguoi-thu-nhap-trung-binh-20250424175552655.htm
Comment (0)