Becamex Investment and Industrial Development Group - JSC (Becamex Group, HOSE: BCM) has just announced information related to not fully meeting the conditions of a public company according to current regulations.
According to Law 56/2024/QH15, public companies with shares listed before January 1, 2021 must meet the requirements for shareholder structure no later than January 1, 2026. Specifically, at least 10% of voting shares must be held by at least 100 investors who are not major shareholders.
Based on the list of shareholders who were finalized to attend the 2026 Annual General Meeting of Shareholders (AGM) on May 25, Becamex Group recorded a total of 9,221 shareholders. However, among these, there are 9,220 non-large shareholders who only hold the corresponding amount of shares with only 4.56% of voting rights. With this ratio, Becamex Group does not meet the conditions on the shareholder structure of a public company as prescribed.
However, Becamex Group said that the Company still falls under the case of maintaining the status of a public company according to the transitional regulations of the Law on Management and Investment of State Capital in Enterprises, effective from August 1, 2025.
According to Clause 7, Article 59 of Law No. 68/2025/QH15, during the implementation of the restructuring plan approved by competent authorities, state-owned enterprises converted from the 100% state-owned capital model to joint-stock companies listed and registered for trading on the stock market will not have their public company status cancelled.
To handle the above issue, Becamex Group said that it has proactively developed a plan and proposed to the Ho Chi Minh City People's Committee to consider and approve reducing the state capital ownership ratio from the current level of 95.44% to over 65% in the period 2026-2030, through the form of public offering shares, in order to ensure meeting the conditions on the shareholder structure of a public company.
Closing the first quarter of 2026, Becamex Group's profit fell to the lowest level in 8 quarters, due to revenue from real estate running out of steam. Net revenue was VND 1,105 billion, down 40%; net profit was nearly VND 280 billion, down 22% compared to the same period, also the lowest level in the past 8 quarters, since the second quarter of 2024. The main reason comes from the stagnation of the real estate pillar segment, bringing in only more than VND 754 billion, down 47%. Along with that, financial revenue was more than VND 344 billion, down 38%.
In 2026, Becamex Group plans total consolidated revenue of VND 10,230 billion and after-tax profit of VND 3,883 billion, an increase of 4% and 10% compared to 2025. With this target, the enterprise has only achieved 12% and 7%.
As of the end of March 2026, Becamex Group's total assets reached more than 61,300 billion VND, a slight increase compared to the beginning of the year. In which, most of the assets are concentrated in investments in joint ventures and associates up to more than 24,200 billion VND, an increase of 1% and accounting for 40% of total capital. Inventory is more than 22,600 billion VND, an increase of 2%.
Payables are still more than VND 38,800 billion, an increase of 3%; with financial loans of more than VND 25,500 billion, an increase of 7% and accounting for 66% of total debt; of which more than VND 13,700 billion is outstanding bond debt.
Regarding stocks, closing the trading session on June 2, BCM shares decreased by 1,400 VND to 53,300 VND/share, corresponding to a capitalization of 55,165.5 billion VND.
