On March 18, 2025, Vimeco Joint Stock Company held an annual general meeting of shareholders in 2025 to approve the production and business plan for 2025 and elect additional members of the Board of Directors.
Reporting to shareholders at the Congress, Mr. Dang Van Hieu - General Director of Vimeco said that in 2024, the Company recorded revenue of VND 1,118 billion, equal to 92% of the plan. Pre-tax profit reached VND 8.55 billion, reaching 74% of the plan.
According to Mr. Hieu, although not completing the targets set for 2024, the Company's production and business activities still have stable profits, consolidated revenue and the parent company in 2024 continues to reach over 1,100 billion VND. The main reason is that the revenue from construction and installation activities is lower than planned due to some projects and works being delayed and implemented slowly.
Vimeco's Board of Directors has also submitted to the General Meeting of Shareholders a business plan for 2025 with total consolidated revenue reaching VND 1,160.28 billion, an increase of 3.77% compared to the results in 2024. Pre-tax profit and after-tax profit increased by 10.52% and 26% to VND 9.45 and VND 4.05 billion, respectively.
In 2025, the Company will still focus on the fields of construction and real estate. Typical construction projects will continue to be implemented such as: North-South Expressway, Vung Ang - Bung section, North-South Expressway, Van Phong - Nha Trang section, Ha Giang - Tuyen Quang Expressway, phase 1, Hoa Binh - Mong Cai Avenue Urban Area, phase 2, Bang Lang Hai Duong Urban Area Project, ... The company also continues to implement a number of bid packages for the Tuyen Quang - Ha Giang Expressway projects, Long Thanh Airport, ...
Regarding real estate investment and business activities, the Company will continue to research investment projects and linkage options with a number of investors with economic potential, promote research, planning finance, and investment proposals for real estate projects in provinces and cities across the country such as Hanoi, Bac Ninh, and Kon Tum.
At the meeting, shareholders questioned whether Vinaconex would lose its existing advantage as a member of Vinaconex after divestment?
Responding to shareholders, the Board of Directors affirmed that in addition to being a member and strategic partner for many years, Vinaconex still has Deputy General Director - Mr. Tran Dinh Tuan participating as a member of the Board of Directors of Vimeco. Vinaconex will still need Vimeco's own potential and strengths. The advantages will not be affected, on the contrary, Vimeco will also be more proactive in the production and business process.
At the end of the Congress, 100% of shareholders voted in favor of the plan to issue 2.613 million shares to increase equity capital from equity capital with an issuance rate of 10%. After completing the issuance, Vimeco will increase its charter capital from VND 261.3 billion to VND 287.5 billion.
The Congress also approved the resignation of Chairman of the Board of Directors Duong Van Mau and Chairman of the Board of Directors Nguyen Khac Hai, the resignation of Mr. Nguyen Tien Khanh and the election of additional members of the Board of Directors, Mr. Vu Minh Hoang and Mr. Nguyen Dac Truong, while the candidate for the Board of Directors is Ms. Nguyen Thi Thuy Linh.
