KBC plans to increase profits 7 times; Biwase focuses on M&A with Tan Hiep Water; Shrimp King Minh Phu reports record loss

Gemadept issues 6.2 million ESOP shares; An Cuong Wood closes 1 branch after sharp profit decline in Q4; Handico and VGC are assigned land in Dong Anh for social housing...

KBC plans to increase profits 7 times; Biwase focuses on M&A with Tan Hiep Water; Shrimp King Minh Phu reports record loss

Gemadept issues 6.2 million ESOP shares; An Cuong Wood closes 1 branch after sharp profit decline in Q4; Handico and VGC are assigned land in Dong Anh for social housing...

KBC plans to increase profit 7 times compared to last year

Kinh Bac Urban Development Corporation - JSC (KBC) plans to lease more than 200 hectares of industrial park land in 2025, from Nam Son Hap Linh Industrial Park, Tan Phu Trung Industrial Park, Hung Yen Industrial Cluster, Trang Due 3 Industrial Park. Therefore, this enterprise plans to make a profit in 2025 7 times higher than last year.

KBC expects the total leased area in 2025 to reach more than 200 hectares.

The information is contained in the document sent to shareholders before the first Extraordinary General Meeting of Shareholders in 2025, scheduled to be held on the morning of March 6.

Regarding this year's ambitious goals, KBC said that the Company's industrial parks have received positive signals regarding the legal status of projects and attracted investment since the beginning of 2025, in which Nam Son Hap Linh Industrial Park and Hung Yen Industrial Cluster have signed memorandums of understanding and deposit agreements with large rental areas.

Therefore, KBC expects the total leasing area in 2025 to reach more than 200 hectares, coming from Nam Son Hap Linh Industrial Park, Tan Phu Trung Industrial Park, Hung Yen Industrial Cluster, Trang Due 3 Industrial Park. At the same time, it will record revenue from social housing (NOXH) in Nenh town, NOXH in Trang Due urban area and continue to build NOXH buildings in 2 projects.

In addition, Trang Cat urban area has compensated, paid land use fees, is investing in infrastructure and has obtained important legal documents, the project is expected to be put into operation from 2025; Loc Giang - Long An Industrial Park has a scale of 466 hectares, has compensated 110 hectares, is continuing to invest in infrastructure, and can be put into operation soon.

Notably, in the first month of the year, Trang Due 3 Industrial Park (area of ​​over 652.7 hectares), Trang Cat urban and service area project (nearly 585 hectares) in Hai Phong and Kim Thanh 2 Industrial Park project phase 1 (nearly 235 hectares) in Hai Duong were approved for investment policy.

“These projects will accelerate infrastructure investment progress from the beginning of 2025 and are expected to bring breakthrough business results to KBC from 2025 and the following years,” according to KBC's submission.

Biwase focuses on M&A with Tan Hiep Water

The Board of Directors of Binh Duong Water - Environment Joint Stock Company (Biwase) has announced important information about the Company's business activities and development plans to investors.

Biwase acquires 43% of shares of Tan Hiep Water Investment JSC

Accordingly, Biwase affirmed its optimism about business prospects, setting a target of 2025 with commercial water output reaching 220 million m3, an increase of 10% over the previous year.

Revenue is expected to reach VND5,200 billion, including internal revenue, and consolidated profit after tax of at least VND680 billion, up 6%.

In 2024, Biwase recorded revenue of nearly VND 3,959 billion, an increase of 12% compared to 2023. However, profit after tax decreased slightly by 3% to VND 664 billion. Net profit reached about VND 642 billion, down 5%.

Biwase's management expects the domestic waste treatment tariff to be approved in the second quarter of 2025, and water prices to be adjusted upward in the second half of 2025 after legal issues are resolved.

In terms of financial position, Biwase has hedged USD 40 million out of USD 113 million of USD debt through foreign currency swap contracts, fixing VND interest rates at 7%. The company plans to continue to hedge an additional USD 40 million by 2025.

Another important information is that Biwase acquired 43% of Tan Hiep Water Investment JSC. Although it does not hold a controlling stake of over 50%, Biwase is still the largest shareholder and holds the position of Chairman, ensuring an important role in Tan Hiep Water's operations.

Tan Hiep Water, established in 2013, currently operates a water plant with a capacity of 300,000 m3/day and night, with great potential for capacity expansion thanks to abundant raw water resources from the Saigon River. The Company's strategic location also facilitates expansion to key areas.

Biwase's management believes that Tan Hiep Water will bring stable cash flow through cash dividends of VND7,000/share, equivalent to a dividend yield of 8-9%.

Gemadept issues 6.2 million ESOP shares

The positive business results are the premise for Gemadept Corporation to "generously" spend ESOP on employees.

Gemadept is a company with a tradition of issuing ESOP shares.

Gemadept has just announced a plan to issue ESOP shares to officers and employees with outstanding achievements in 2023. Accordingly, the Company will issue more than 6.2 million ESOP shares, equivalent to 1.5% of the total number of outstanding shares, at a preferential price of VND 10,000/share. These shares will be restricted from transfer within 2 years.

The purpose of issuing ESOPs is to retain and attract talent, while enhancing employee engagement and motivation.

Gemadept is a company with a tradition of issuing ESOP shares, with the issuance condition linked to business results. The company only issues shares when it completes the pre-tax profit plan assigned by the annual General Meeting of Shareholders. If pre-tax profit reaches 100-110% of the plan, the ESOP issuance rate is 1.2%; if it exceeds 110% of the plan, the issuance rate increases to 1.5%.

Previously, in mid-December 2024, Gemadept completed the offering of 103.5 million shares to existing shareholders at a ratio of 3:1, raising VND3,014 billion. After this issuance, the Company's charter capital increased from nearly VND3,105 billion to VND4,140 billion.

Regarding the business situation in 2024, Gemadept's revenue reached VND 4,832 billion, the highest in the past 10 years, thanks to strong growth in port operations. However, due to a sharp decrease in financial revenue (in the same period, there was a profit from transferring capital from Nam Hai Dinh Vu port), resulting in a net profit of VND 1,459 billion, down 35% compared to 2023, but still significantly higher than previous years.

Shrimp King Minh Phu reports record loss

Minh Phu Seafood Corporation has just recorded its biggest loss in history, in complete contrast to the record high profit target set at the beginning of the year.

Minh Phu Seafood Corporation has just recorded the biggest loss in history.

According to the consolidated financial statements for the fourth quarter of 2024, the "shrimp king's" revenue increased by 21% to nearly VND 3,900 billion, but the cost of goods sold increased at a higher rate, causing the company to lose VND 187 billion - a record.

Minh Phu Seafood explained that the business efficiency of commercial shrimp farming and seed production companies was low due to the off-season harvest. Despite a sharp reduction in sales costs, financial costs and an increase in financial revenue, the Company still could not avoid losses.

In 2024, Minh Phu Seafood lost more than VND240 billion - the highest ever, despite a 38% increase in revenue to more than VND14,700 billion. Last year's gross profit margin was only 7.6%, lower than the bottom of 2016, while other expenses did not increase significantly.

After a loss in 2023, Minh Phu Seafood had set high expectations with a revenue target of VND 18,568 billion and a profit after tax of VND 1,265 billion - both record numbers. Although the first half of the year's results were not positive, the leadership still maintained the plan and expected a strong recovery in the second half of the year. However, the actual developments were completely contrary to predictions.

An Cuong Wood closes 1 branch after sharp profit decline in Q4

From February 10, 2025, the branch that will be terminated is Branch 5 - An Cuong Wood JSC in Binh Hung Hoa, Binh Tan, Ho Chi Minh City for the reason of restructuring the operating apparatus.

By the end of 2024, An Cuong Wood's total assets will reach more than 5.6 trillion VND.

The Board of Directors authorizes the General Director to be responsible for paying debts (including tax obligations), resolving issues related to labor regimes and completing necessary procedures with competent state agencies.

The closure of a branch comes as An Cuong Wood has just experienced a relatively sharp decline in Q4/2024. Specifically, Q4 revenue reached more than 1.2 trillion VND, up 6% over the same period last year. Minus cost of goods sold, gross profit reached 376 billion VND, up 11%.

However, financial revenue dropped sharply by 32% to VND34 billion; while sales expenses remained high, and business management expenses increased sharply to VND164 billion (3 times higher than the same period). This eroded the final results, causing the business to only earn VND90 billion in net profit, 44% lower than the same period.

The company said the main reason for the decrease in profits was due to increased provisioning costs and staff costs.

Despite the sharp decline in the fourth quarter, An Cuong Wood's cumulative results still grew. After 12 months, the wood industry enterprise achieved nearly 4 trillion VND in revenue, up 6% over the previous year; net profit increased slightly by 2% to 420 billion VND. Compared to the plan approved by the General Meeting of Shareholders, An Cuong Wood exceeded the revenue target (5%) and nearly completed the after-tax profit plan (96%).

At the end of 2024, An Cuong Wood's total assets reached more than 5.6 trillion VND, a slight increase compared to the beginning of the year, with more than 4.1 trillion VND in short-term assets, a slight decrease. Cash and deposits increased by 16% to 2.2 trillion VND. Inventory recorded 968 billion VND, a decrease of 15%.

On the capital side, short-term debt accounts for most of the payable debt, increasing slightly to about 1.45 trillion VND, lower than the amount of cash held. This shows that the enterprise has no risk in completing the obligation to pay the debt when due.

Handico and VGC were assigned land in Dong Anh for social housing.

The Hanoi People's Committee has just decided to allocate land to the consortium of Hanoi Housing Development and Investment Corporation (Handico) and Viglacera Corporation - JSC (VGC) to implement the project of building a social housing area in Dong Anh district.

Handico and VGC are assigned land in Dong Anh for social housing.

On February 13, the Hanoi People's Committee decided to hand over more than 2.4 hectares of land (phase 2) with completed site clearance at plot CT3 in the new urban area of ​​Kim Chung, Kim Chung commune, Dong Anh district to the joint venture of Handico and VGC to implement the social housing construction project.

Of which, nearly 0.3 hectares are used for traffic construction land; more than 2.1 hectares are used for urban residential land.

Regarding the form of land allocation: The State allocates land with land use fees collected. Land use term: for investors, the land can be used from the date of signing the land allocation decision until November 10, 2061; for apartment owners, the land can be used stably and permanently.

Land allocation without auction of land use rights, without bidding to select investors to implement projects using land.

The Handico and VGC consortium is responsible for using the allocated land area within the boundary and in accordance with regulations; locating construction works in accordance with approved planning and construction permits; implementing investment projects in accordance with the provisions of law on land, investment, construction, environment, etc.; handing over nearly 2,702 m2 of internal traffic land to the local government for management and common use in the city according to regulations.

According to the approved planning, the CT3 land plot will build 3 high-rise apartment buildings with the symbols CT3A, CT3B, CT3C; each building is 12 floors + 1 attic, with an elevator. The total construction floor area is about 109,410 m2, meeting the population of 3,902 people with a total of 1,104 apartments.

Source: https://baodautu.vn/kbc-len-ke-hoach-lai-gap-7-lan-biwase-doc-luc-ma-nuoc-tan-hiep-vua-tom-minh-phu-bao-lo-ky-luc-d246572.html