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Monday, June 27, 2022

Hung Thinh Incons maintains growth momentum

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The board of directors of Hung Thinh Incons JSC (HTN) will submit a plan to pay a cash dividend of 12% for 2021. HTN will also mobilize resources to conduct a series of projects, and venture into the construction of giant urban area and infrastructure projects.

HTN has published documents for its annual shareholders’ meeting in 2022, including reports and proposals, to ask its shareholders for approval of the company’s finance and governance plans, such as the business plan for 2022, a plan to distribute the 2021 profit, a plan on the private placement of shares and a plan to issue ESOP (Employee Stock Ownership Plan) shares.

The annual shareholders’ meeting of HTN will be held online and in person at 9:00 a.m. on June 5, 2022 at the Capella Convention Center at 24 Ba Thang Hai Street, District 10, HCMC.

In 2021, Hung Thinh Incons continued maintaining its growth momentum as it exceeded its business targets although the entire construction sector struggled in the Covid-19 pandemic. In the company’s audited consolidated financial report in 2021, it posted net revenue of nearly VND6.2 trillion and after-tax profit of VND241 billion, meeting 107% and 103% of the targets and rising 35% and 19% year-on-year, respectively.

To ensure the benefits of stakeholders and the company’s development plans, HTN’s board of directors will seek stakeholders’ approval for a 12% cash dividend payment plan, which is supposed to be an appropriate level while HTN is gathering resources to carry out multiple projects and foray into the construction of large urban area and infrastructure projects.

With 15 years of experience, Hung Thinh Incons is executing more than 20 projects nationwide

Although the real estate sector may continue facing huge pressure on the progress of projects, HTN has remained steadfast with its growth plan, looking to generate nearly VND7.5 trillion in revenue and VND265 billion in after-tax profit this year, up 21% and 10% against 2021, respectively.

While finance is the lifeline of enterprises, manpower is always considered an important factor to help enterprises realize their strategies. Therefore, to attract and retain talents, HTN’s board of directors will seek shareholders’ approval for a plan to issue ESOP shares to key managerial staff and employees who have contributed to the company’s development. Nearly 2.7 million shares, equivalent to 3% of the company’s total outstanding shares, were planned to be issued at VND10,000 each.

In addition, the company will submit a plan to issue 25 million shares with the issuance period extended to the end of the second quarter of 2023 due to the impact of the Covid-19 pandemic. The share issue is aimed at strategic investors with a high financial capacity who can support the company’s business development or professional stock investors. If successful, the company’s charter capital will near VND1.2 trillion, picking up 31% versus the end of last year. The proceeds from the share issue will be used to improve the company’s financial capacity and expand its business activities, hereby cementing its position and increasing its competitiveness.

Hung Thinh Incons is executing more than 20 projects nationwide, such as the world-class commercial and tourism peninsula city MerryLand in Binh Dinh Province’ Quy Nhon City, Richmond Quy Nhon in the same city, New Galaxy Nha Trang in Khanh Hoa Province’s Nha Trang City, Bien Hoa Universe Complex in Dong Nai Province’s Bien Hoa City, and Moonlight Centre Point in HCMC’s Binh Tan District.

The total backlog value of the company in 2021 amounted to nearly VND30 trillion, contributing to ensuring the company’s revenue in the medium term. Over the past few years, HTN’s backlog value has ceaselessly grown thanks to the promotion of the company’s strength as part of Hung Thinh Corporation’s ecosystem with a closed value chain. As a result, the company has repeatedly won tenders for the corporation’s new projects. With the current financial, manpower, management and construction technology capability, together with its experiences in developing multiple large projects, Hung Thinh Incons has been affirming its leading position and brand in Vietnam’s construction sector.

For further information about documents for the annual shareholders’ meeting in 2022 of Hung Thinh Incons, please access the link: www.hungthinhincons.com.vn/quanhecodong/thongtincodong

The investor relations unit of Hung Thinh Incons

Email: ir@hungthinhincons.com.vn

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