In its business performance report for 2023, Lideco’s representative reported a revenue of 919 billion VND and a pre-tax profit of 462 billion VND. With this result, the company has achieved 131% and 154% of its 2023 plan, respectively. Regarding the profit distribution plan for 2023, the company plans to pay dividends at a rate of up to 25% in cash.
It is reported that in 2023, the company has implemented investment in a number of key projects such as LIDECO Ha Long Apartment; Housing Development Projects in Cao Thang, Ha Khanh, and Ha Lam wards of Ha Long City, also known as the Bai Muoi project; Social Housing Project within the Housing Development Project in Cao Thang, Ha Khanh, and Ha Lam wards of Ha Long City; Dich Vong Residential Area Project; BQL32 Residential Area Project (LIDECO Urban Area).
In 2024, Lideco set a modest target of achieving 750 billion VND in revenue and 320 billion VND in pre-tax profit, both lower than the figures achieved in 2023. However, according to Mr. Nguyen Van Kha, Chairman of the Board of Directors of Lideco, the Bai Muoi project, which was put into operation at the end of 2023, will contribute to revenue in the year, so it may be higher than the figure set by the Board of Directors.
Regarding the profit distribution plan, the dividend rate (in cash) in 2023 is 25%, and in 2024, it is expected to be 12% (in cash) on the new charter capital.
General view of the congress.
In terms of the 5-year plan, the company will focus on investing in exploiting and completing the procedures, responsibilities, and obligations of the investor for the projects that the company has and is implementing. Specifically, in the following projects: Bac Quoc Lo 32 – Hoai Duc District, Hanoi; Housing Development Project in Cao Thang, Ha Khanh, and Ha Lam wards of Ha Long City; Dich Vong New Urban Area Project, Cau Giay, Hanoi; LIDECO Ha Long Apartment Project; The Project in which the company participated and won the land use auction to build high-rise apartment buildings on plot C1 (5,809 m2) in Xuan Dinh ward, Tu Liem district, Hanoi;
In addition, the Board of Directors will continue to develop a strategy to seek and research 3-5 mid-sized real estate projects in Quang Ninh, Hai Duong, and provinces neighboring Hanoi.
This year, the company will also amend some business lines to attract foreign investment capital, while ensuring the rights and interests of existing foreign investor shareholders.
According to the plan, the enterprise plans to issue 60.98 million shares, increasing the number of outstanding shares after the issuance to 121.9 million shares. If the issuance is successful, the company’s charter capital is expected to increase to nearly 1,220 billion VND, double the current capital. The implementation time is expected to be within this year, and the Board of Directors will decide on the specific time after receiving approval from the State Securities Commission.
Notably, at this Congress, Mr. Nguyen Van Kha reported to shareholders about his resignation as a member of the Board of Directors due to his advanced age and poor health. Therefore, Lideco’s Board of Directors presented to shareholders and approved a list of seven candidates for members of the Board of Directors/independent members of the Board of Directors for the term 2024 – 2029. At the end of the Congress, all the proposals were approved with the high consensus and agreement of the shareholders.
