Construction Joint Stock Company 47 (HOSE: C47) – an associate company of Vu Phong Energy Group – successfully held the Annual General Meeting of Shareholders (AGM) 2022 on April 24, 2022, at Hai Au Hotel Bien Cuong, City. Quy Nhon, Binh Dinh.
- The cooperation of Vu Phong Energy Group, C47 and INTRACO towards sustainable development goals
- Associated company of Chairman of the Board of Directors has registered to purchase 550,000 C47 stocks
- The MOU signing ceremony between C47 – Vu Phong – Steag for the wind energy development in Vietnam
C47 Holds Successful 2022 AGM: Key Decisions
There were 46 respective presents who owned and were authorized to represent 15,157,040 voting shares, representing for 55.06 percent of total voting shares. Many important contents were approved by Congress, including a 2022 production and business plan; a profit distribution plan for 2021 and a dividend payment plan for 2022; a stock offering plan to increase charter capital; and the election of additional members to the Board of Directors (BOD) for the 2020-2025 term…
Financial Performance and Future Plans
Mr. Phong, Pham Nam, Chairman of the BOD of C47, presented the BOD’s report for 2021 and the operating plan for 2022 at the meeting. According to the consolidated financial statements, C47’s pre-tax profit reached more than 56.7 billion VND at the end of 2021, and profit after tax reached more than 43.2 billion VND, representing an increase of more than 235 percent over the previous year. In 2021, in the company’s main field of activity, which is installation contracts, C47 had signed many bidding packages for large projects such as the Hoa Binh Hydropower Plant Expansion, Phu Phong Weir Dam (Binh Dinh), a separate wastewater collection system and sewers to transfer rainwater to the Han River (Da Nang), and Ta Hoet reservoir (Lam Dong)… C47 continues to sign contracts and participate in the construction of new projects in early 2022, including Long Thanh Airport (Dong Nai) and the Hoa Phat Iron and Steel Complex Project Phase 2 (Quang Ngai). C47 is now negotiating the execution of overseas projects to increase market share and company efficiency. C47’s the production and business plan for 2022 aims for total revenue of 1,400 billion VND and profit after tax of 60 billion VND, an increase of 52% and 39%, respectively, over the implementation in 2021.
Mr. Phong, Pham Nam – Chairman of the BOD of C47 (also Chairman of the BOD of Vu Phong Energy Group) – presented at the 2022 Annual General Meeting of Shareholders
Dividend Payment Plan
C47’s General Meeting of Shareholders also adopted the profit distribution plan for 2021 and the dividend payment plan for 2022. C47 will pay a dividend of 10% in shares from undistributed after-tax profit and 10% bonus shares from the Investment and Development Fund when profits were distributed in 2021. In 2022, the dividend payment rate will be at least 10% of profit after tax, in cash or stock payments.
- Promoting sustainable development for businesses
- Various Activities of Vu Phong Energy Group in June 2023
C47 Shareholders Approve Stock Offering to Increase Capital
The C47 General Meeting also approved the plan to offer stocks to increase the charter capital of Shareholders. More than 41.1 million stocks are expected to be offered for sale, including more than 15 million shares for existing shareholders, up to 25 million individual shares, and 1.1 million shares for employees (Employee Stock Ownership Plan – ESOP). At par value, the total expected value mobilized exceeds 411 billion dongs.
Delegates participating in voting at the General Assembly
Election of New Board Members
The General Meeting of Shareholders also approved the election of new members to the Board of Directors for the 2020-2025 term during the meeting. As a result, Mr. Lam, Le Dong was elected to the C47 BOD for the 2020-2025 period. The new C47 BOD includes the Chairman, Mr. Phong, Pham Nam, Vice Chairman, Mr. Binh, Ta Nam, and Board members Mr. Nam, Le Trung, Mr. Quang, Duong Minh, Mr. Tuynh, Bui Van, Mr. Lam, Le Dong, Mr. Hieu, Vo Trong, and Mr. Hai, Nguyen Huu.
| Construction Joint Stock Company 47 (C47) is a leading enterprise in the construction industry of irrigation, hydropower, civil and industrial works throughout the country. Over the course of 46 years of establishment and development, C47 has gradually mastered the construction technology of irrigation, hydropower, civil and industrial works throughout the country, was also the first to implement new technologies such as roller compacted concrete (RCC), tunneling technology using TBM Tunneling Robot (more than 15km has been implemented), and so on, with many key projects worth trillion dong, which were highly valued by investors and agencies.
Furthermore, the company also expands its lines of business into other industries such as restaurants, hotels, travel, tourism; overhaul of construction motorcycles, production of mechanical engineering products, production of fresh concrete and precast concrete components; training and labor export; electricity production; testing the mechanical strength of structural concrete, exploiting and transporting construction materials… In addition to traditional business segments, C47 is increasing its participation in new segments to gradually increase its revenue proportion, such as highway projects; anti-flood, anti-salinity projects, embankments to prevent rivers and seas; Metro project; airport and port infrastructure; renewable power plant projects; civil building projects, factories, industrial park infrastructure… In the field of renewable energy, in 2021, C47 – Vu Phong Energy Group – STEAG (Germany) signed the Memorandum of Understanding (MoU) to provide consulting services for the development and implementation of wind power projects in Vietnam. |
Vu Phong Energy Group
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