Van Phu – Invest successfully organized the 2023 annual general meeting of shareholders

Establishing a foundation for long-term development

This orientation was shared by the Board of Directors of Van Phu – Invest at the 2023 Annual General Meeting of Shareholders on the morning of April 26. This is also part of the vision strategy to 2032 developed by the Company's Board of Directors and is considered a breakthrough, demonstrating the vision and long-term thinking of the Board of Directors and Executive Board of the Company.

To implement the strategy, the Company has proposed a methodical and feasible business plan applicable throughout the value chain from project selection, sales methods, to construction and after-sales service.

In 2023, Van Phu – Invest will continue to implement developing projects and conduct bidding and auctions for new projects in key economic regions in the long-term strategic plan such as Hanoi, Ho Chi Minh City, Bac Giang , Bac Ninh, and Hai Phong.

Specifically, regarding investment preparation, Van Phu – Invest will continue to implement the TT39-40 low-rise housing project in Van Phu Urban Area, Ha Dong District, Hanoi City; Urban Area No. 22 project in Bac Giang City; and invest in the construction of the Song Khe – Noi Hoang housing project, Bac Giang City.

In addition, the Company will continue to implement transitional projects from 2022, including the project of building houses and mixed-use commercial housing in Subdivision 2.

Southern urban area, Bac Giang city and residential and commercial service project in Yen Phong, Bac Ninh . At the same time, completing project development procedures for Vlasta – Thuy Nguyen project in Hai Phong and Grandeur Palace – Pham Hung in Nam Tu Liem district, Hanoi city.

Chairman of the Board of Directors To Nhu Toan speaks at the General Meeting of Shareholders

Adapting in a volatile economic context

Also at the General Meeting of Shareholders, the Company's Board of Directors said that the goal of maintaining financial stability will be the Company's top priority in 2023, while at the same time the Company will choose good opportunities to expand land funds and implement projects.

Accordingly, the Board of Directors presented and received approval from shareholders attending the meeting for the 2023 business plan with total revenue of VND 2,200 billion, profit after tax of VND 2,200 billion.

Tax at 550 billion VND, up 4% and 10% respectively compared to the results achieved in 2022.

The basis for the business to set the business target for 2023 comes from the realization of recording about 1,800 billion VND in revenue at the Vlasta - Sam Son project and opening new projects, specifically the Housing Construction project, mixed-use housing and commercial housing in Subdivision No. 2, Southern Urban Area, Bac Giang city, and the Yen Phong workers' housing and commercial service project, Bac Ninh province. These are all projects with prime locations in strategic provinces and cities with high development potential.

With the Oakwood Residence project in Hanoi, the Company will also maximize operating capacity and improve service quality to ensure the project operates according to the original financial plan.

Members of the Board of Directors of Van Phu - Invest

To serve future production and business needs, the Board of Directors also proposed and received approval from shareholders to list VPI bonds for public offering in 2024 (if successfully issued) after the end of the offering.

Regarding dividends, the Board of Directors of the company has submitted and received approval from shareholders for a plan to pay cash dividends at a rate of 10% ( shareholders owning 01 share will receive 1,000 VND - PV ). The source of funds for dividend payment comes from the accumulated undistributed profit after tax up to the end of 2022 when the company plans to allocate nearly 242/906 billion VND of undistributed profit to do this.

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