FECON is expected to issue nearly 87.5 million shares, mobilize nearly 875 billion VND to invest in equipment to serve metro projects, supplement working capital and pay part of short-term loans. Along with the capital increase plan, the enterprise sets a consolidated after-tax profit target for 2026 of 250 billion VND.
Recently, FECON Joint Stock Company held the 2026 Annual General Meeting of Shareholders in Hanoi, approving the business plan, capital increase plan, financial restructuring and development orientation for the period 2026–2030.
Expected mobilization of nearly 875 billion VND
One of the notable contents approved by the General Meeting is the plan to issue nearly 87.5 million shares.
In which, FECON is expected to offer more than 55.1 million shares to existing shareholders at a ratio of 20:7; private placement of 24.5 million shares and issuance of nearly 7.9 million shares under the Employee Choice Program (ESOP).
If successfully implemented, businesses can mobilize nearly 875 billion VND, increasing charter capital from more than 1,574 billion VND to over 2,449 billion VND.
The mobilized capital is expected to be used to invest in machinery and equipment to serve the construction of metro projects; supplement working capital for production and business activities and pay part of short-term loans.
The capital supplement takes place in the context that FECON is increasing its presence in large-scale infrastructure projects, posing higher requirements for financial capacity, equipment and construction organization.
After-tax profit target of 250 billion VND
In 2026, FECON sets a consolidated revenue plan of 5,600 billion VND, an increase of about 15% compared to 2025; consolidated after-tax profit reaches 250 billion VND, an increase of over 160%.
The after-tax profit of the parent company is expected to reach 60 billion VND, while the consolidated EPS plan is 1,115 VND/share.
According to the orientation approved by the General Meeting, businesses will focus on cost control, improve the efficiency of working capital use and prioritize projects with conditions for payment and appropriate cash flow. Accelerating acceptance, settlement and debt recovery are also identified as one of the key tasks.
In the first 6 months of 2026, FECON recorded nearly 3, 213 billion VND in revenue, an increase of 49.6% compared to the same period. Pre-tax profit reached more than 107 billion VND, after-tax profit nearly 79 billion VND.
Notably, net cash flow from business activities reached positive VND 172 billion, reversing compared to negative VND 356 billion in the same period in 2025. As of the end of Q2. 2026, FECON's total assets reached VND 11,105.3 billion, an increase of 9.1% compared to the beginning of the year.
In addition to improved business results, FECON currently has a transferred workload of about 10,000 billion VND, coming from projects in many fields of transportation infrastructure, industry and urban areas.
The project portfolio includes Gia Binh Airport, My Thuy Port, metro lines in Hanoi, Hoa Yen Industrial Park and many large-scale industrial and infrastructure projects. This source of work creates a basis for businesses to be more proactive in human resources, equipment and cash flow plans for 2026 as well as the following years.
Notably, FECON is increasing its participation rate in projects with high requirements for geotechnical expertise, underground works, specialized equipment and construction management capacity - areas where businesses have accumulated experience over many years.
Restructuring to prepare for the 2026–2030 period
In parallel with increasing capital, FECON continues to review the investment portfolio in the direction of prioritizing projects that are suitable for core capacity, have clear legal status and the ability to generate cash flow. Investments that are no longer suitable will be considered for restructuring, transfer or divestment to recover resources and reduce financial costs.
Businesses also set a goal to improve project management capacity, standardize operating procedures, strengthen digital transformation, supply chain management and cost control.
In the period 2026–2030, FECON identified a number of key areas including urban railways, underground infrastructure, high-speed railways, industry – energy and industrial park investment, urban development oriented towards public transport (TOD).
Also at the General Meeting, FECON shareholders approved the name change from "Fecon Joint Stock Company" to "Fecon Group Joint Stock Company".
According to the business, the name change reflects the scale and operating model that has been expanded after 22 years of development. From a deeply specialized foundation and underground works platform, FECON is currently participating in more fields, from infrastructure construction to industrial park, urban and energy investment.
The new name is therefore considered a step of adjustment in line with the development orientation according to the integrated model, connecting technical capacity, construction and project investment in the next phase.
