Deo Ca Transport Infrastructure Investment Joint Stock Company (stock code HHV) said it will hold its 2024 annual general meeting of shareholders in May 2024, at Deo Ca Practical Training Center (Lien Chieu District, Da Nang City).
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| HHV is currently one of the leading construction units of traffic infrastructure projects in Vietnam. |
Accordingly, at the upcoming Annual General Meeting of Shareholders, HHV will present and seek shareholders' opinions on the production and business results in 2023 and the plan for 2024; submit for approval the contents of additional share offering in 2023; profit distribution, dividend payment in 2023 and profit distribution plan in 2024, along with many other important contents.
According to information released by HHV, in 2023, consolidated revenue reached VND 2,685 billion (up 28% over the same period), after-tax profit reached VND 364 billion (up 23% over the same period).
In 2023, HHV successfully issued shares to increase its charter capital to more than VND 4,116 billion. Regarding dividend payment, HHV representative said that if the plan is approved by the general meeting of shareholders, the company will pay dividends in shares to existing shareholders at a rate of 5%.
Regarding the business plan, HHV representative said that 2024 will continue to be the year to promote the construction of key and important national traffic works with 422,000 billion VND of investment capital for traffic infrastructure works, equivalent to 62.3% of the total public investment capital plan. As an enterprise with specialized capacity in operation management, participating in the role of general contractor for large-scale projects, HHV has an advantage over the public investment group. HHV sets a target of 17% increase in revenue in 2024, 11% increase in profit compared to 2023, HHV's construction and installation segment alone sets a target of 26% increase.
Right from the first quarter of 2024, HHV's production and business results have recorded positive indicators. Specifically, revenue in the first quarter of 2024 is estimated at 674 billion VND, an increase of 25% over the same period. Profit after tax is estimated at 109 billion VND, an increase of 32% over the first quarter of 2023.
It is expected that by 2025, HHV will invest in nearly 400 km of highways, specifically the Dong Dang - Tra Linh project (Cao Bang), Huu Nghi - Chi Lang (Lang Son), Tan Phu - Bao Loc (in Lam Dong), Ho Chi Minh City - Chon Thanh, Ring Road 4 through Binh Duong province, Ho Chi Minh City - Trung Luong - My Thuan highway (phase 2) ..., with a total investment of nearly 100,000 billion VND.
All projects are being implemented on schedule, Dong Dang - Tra Linh expressway with a total investment of more than 14,300 billion VND was started on January 1, 2024. Next is Huu Nghi - Chi Lang expressway (connecting Dong Dang - Tra Linh expressway) with a total investment of more than 11,300 billion VND was started on April 21, 2024. In the projects, the State budget capital participation is from 50% - 70%.
In these projects, HHV participates as a direct investor or business cooperation partner (BCC). The estimated construction value of HHV alone is about VND 5,700 billion.
As of December 31, 2023, HHV's contracted but unimplemented work volume is about VND 2,000 billion, mainly from the Quang Ngai - Hoai Nhon Expressway Project and Binh Dinh coastal road. In 2024, HHV will start implementing the Dong Dang - Tra Linh Expressway Project; Huu Nghi - Chi Lang Expressway, helping to increase HHV's contracted but unimplemented work volume to about VND 3,500 billion.
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