The extraordinary general meeting of shareholders of 911 Group officially approved the signing of a contract for the purchase and sale of cars and battery rental services of VinFast.
911 Group wants to buy VinFast electric cars, establish the brand "911 taxi" - Photo: QUANG DINH
911 Group Corporation has just announced the resolution of the 2024 extraordinary general meeting of shareholders.
Accordingly, the resolution approved the signing of a contract for the purchase and sale of cars and battery rental services with VinFast Trading and Service Company Limited.
The value of this contract is up to 500 billion VND, expected time in the second quarter of 2025.
Talking about the reason for switching to electric vehicle transportation, the leader of 911 Group said that the enterprise has a nationwide scope of operations, and is also a supplier of machinery and equipment to the parent company of VinFast, so there is mutual understanding of product quality.
"Along with that, it is in line with the general policy of greening taxi transportation services by the end of 2030," the leader of 911 Group emphasized.
In the context of promoting electric taxis, the leader of 911 Group said that by 2025, the company's expected revenue could reach 1,500 billion VND.
If the above figure is achieved, 911 Group will record a record revenue from the time the enterprise announced its financial report (2019) to the present.
According to the audited financial report for 2023, 911 Group recorded revenue of VND 611 billion, down 54% compared to the previous year; and profit after tax of nearly VND 17 billion, down more than 56%.
The leader of 911 Group said that 2023 is a difficult year for the economy. The total demand of the economy is decreasing, which directly affects the business performance of the enterprise.
"Faced with the difficulties encountered, the company has made efforts to expand the market, develop new products, and focus resources on fulfilling orders to maximize the goals set for 2023.
Although the results in 2023 have not met expectations, the company will have new plans and projects to optimize capital resources and ensure benefits for shareholders," the leader of 911 Group emphasized.
In 2024, in the first 9 months of the year, 911 recorded revenue of 672 billion VND, an increase of 63% over the same period. Meanwhile, profit after tax reached 19.4 billion VND, an increase of more than 3.1 times over the same period.
Businesses want to buy thousands of VinFast cars
On October 26, 911 Group signed a memorandum of understanding with GSM Green and Smart Mobility Joint Stock Company on leasing and purchasing 2,200 VinFast electric cars, with the goal of establishing the 911 taxi brand.
According to the agreement, of the 2,200 vehicles, the first 200 will be handed over to the 911 Group for operation in the fourth quarter of 2024, and the remaining vehicles will continue to be delivered until the end of 2025.
This is a strategic move by 911 Group to expand revenue sources beyond core business areas such as construction equipment, concrete mixing plants and forklifts.
911 Group has been mentioned more by the media recently after appearing at a meeting with 70 businessmen representing 50 car companies in the transportation sector in Hanoi last September by billionaire Pham Nhat Vuong.
At this event, the leader of 911 Group shared the plan to develop a taxi service under the brand name "911 taxi" with the goal of developing more than 200 vehicles by the end of 2024, expanding to more than 2,200 vehicles by the end of 2025, initially focusing on Dong Nai and Binh Duong provinces and then expanding to other regions and cities across the country.
Source: https://tuoitre.vn/mot-cong-ty-chi-500-ti-mua-xe-vinfast-20241127180726261.htm
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