Mr. Nguyen Hung Cuong resigned from his position as Deputy General Director of Hoa Binh Construction after 5 years in office and 17 years with the Company.
Hoa Binh Construction Group Joint Stock Company (stock code: HBC) recently approved the dismissal of Mr. Nguyen Hung Cuong from the position of Deputy General Director according to his personal wishes.
Mr. Cuong has worked at HBC since 2007. He was appointed as a construction engineer when he first joined the company, then promoted through many positions such as Commander, Project Director and Senior Project Director before taking the position of Deputy General Director in April 2019.
After Mr. Cuong resigned, the HBC Executive Board had 5 members left. Specifically, Mr. Le Van Nam held the position of General Director, Mr. Le Viet Hieu held the position of Permanent Deputy General Director, the remaining 3 Deputy General Directors were Mr. Dinh Van Thanh, Mr. Nguyen Khanh Hoang and Mr. Le Van Vien. Of which, Mr. Le Van Vien was appointed to this position in early May, replacing Mr. Nguyen Tan Tho.
Regarding the business situation, in the first half of 2024, Hoa Binh Construction's audited net revenue reached VND3,812 billion, up slightly from the previously announced VND3,811 billion. The company reported a revised gross profit of VND105 billion, down 13% from the VND121 billion in its self-made report. The difference comes from the parent company's adjustment of data related to the classification of cost of goods sold and other income.
Financial income increased after auditing due to the parent company recording additional interest on late payments from customers, from VND 160 billion to VND 195 billion. Other profits also fluctuated strongly, increasing from VND 518 billion to VND 555 billion after auditing due to upward adjustments at the parent company and at the subsidiary related to receivables from investors . An Hai bridge project .
This is the main reason why the company's after-tax profit increased from VND 740 billion to VND 830 billion after auditing, an increase of VND 90 billion.
Compared to the total revenue target of VND10,800 billion (up 43.3% over the same period) and after-tax profit of VND433 billion set at this year's general meeting of shareholders, Hoa Binh Construction has completed 35.3% of the revenue plan and exceeded 91.6% of the profit target.
As of the end of June, Hoa Binh Construction's total assets reached VND15,790 billion, an increase of VND540 billion compared to the beginning of the year and an increase of VND158 billion compared to the self-reported report. Short-term items accounted for VND14,169 billion in the company's asset structure. Of which, the company's cash and cash equivalents were nearly VND305 billion.
As of June 30, 2024, the company had an accumulated loss of VND2,403 billion and some overdue debts. “These signs indicate the existence of material uncertainties that may cast doubt on Hoa Binh Construction’s ability to continue as a going concern,” the auditors said in the financial report.
On the stock exchange, HBC is currently at VND5,300, down nearly 8% compared to the reference price when switching to trading on the UPCoM exchange from September 18. Market capitalization is approximately VND1,875 billion.
Previously, according to HoSE's decision, HBC was forced to delist from September 6 due to undistributed profit after tax as of December 31, 2023 being negative VND 3,240 billion, exceeding the company's actual contributed charter capital of VND 2,741 billion.
Source: https://baodautu.vn/pho-tong-giam-doc-xay-dung-hoa-binh-tu-nhiem-d225689.html
Comment (0)