Hoa Binh Construction Group officially moved to the UpCom trading floor and the company said it would return to HoSE in the next 2 years - Photo: HBC
On September 16, Hoa Binh Construction Group (HBC) announced the official listing of HBC shares on the UpCom exchange.
Accordingly, more than 347 million HBC shares will officially trade on the UpCom floor of the Hanoi Stock Exchange (HNX) from September 18 with a reference price of VND5,700/share.
Along with the floor transfer, HBC also said that this enterprise recorded business results in the first half of 2024 with after-tax profit reaching more than 829.7 billion VND, far exceeding the plan set for the whole year of 2024. Hoa Binh's equity also improved, from the low level at the end of 2023 to more than 1,600 billion VND.
Notably, revenue from financial activities was VND195.4 billion, an increase of 8 times compared to the same period last year. At the same time, net profit from business activities returned to positive levels, reaching VND286.6 billion.
Mr. Le Viet Hai, Chairman of Hoa Binh Construction Group, said these positive results are proof of the effectiveness of the comprehensive restructuring strategy that Hoa Binh is implementing.
"The company has successfully completed the human resources apparatus, optimized management costs, and restructured assets through divesting ineffective subsidiaries and affiliates. In addition, Hoa Binh has also promoted debt collection and restructured products and services, contributing to improving business performance," said Mr. Hai.
The contractor's leader said the company continues to focus on boosting its core business in the construction sector while expanding its market, especially international projects.
Regarding the re-listing on the Ho Chi Minh City Stock Exchange (HoSE), Hoa Binh's leaders said that the company will maintain the transparent reporting regime as it has done since 2006, thereby ensuring re-listing on HoSE in the next 2 years.
Previously, the Ho Chi Minh City Stock Exchange decided to delist HBC shares because as of December 31, 2023, HBC's total accumulated loss was VND 3,240 billion, exceeding its actual contributed charter capital of VND 2,741 billion.
After that, Hoa Binh Construction sent a response letter to the Ho Chi Minh City Stock Exchange (HoSE) regarding the mandatory delisting of HBC shares. However, the Ho Chi Minh City Stock Exchange later announced the decision to delist HBC shares, effective from September 6.
In the last trading session on HoSE on September 5, HBC shares traded at 5,750 VND/share.
In 2024, Hoa Binh Construction plans total revenue of VND 10,800 billion, an increase of 43.3% over the same period, expected profit after tax of VND 433 billion, a loss of VND 1,110.7 billion over the same period.
Source: https://tuoitre.vn/tap-doan-xay-dung-hoa-binh-chinh-thuc-chuyen-sang-san-giao-dich-upcom-20240916105225885.htm
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