Services
The members of the Board of Directors of Văn Phú – Invest
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Establishing a platform for long-term development
At the meeting, Mr. To Như Toàn, Chairman of the Board of Directors of Văn Phú – Invest, said that 2023 is the first year of implementing the 10-year strategy of the business, with a series of events to implement strategic initiatives according to the planned plan. set out.
With project development work, the business remains steadfast in its strategy of developing and expanding land funds by participating in bidding for projects, acquiring and merging (M&A) projects in localities with development potential and has such as Bac Giang, Bac Ninh, Hai Phong, Quang Ninh…
In the context of unfavorable market developments, Văn Phú – Invest has basically completed the targets approved by shareholders attending the 2023 Annual General Meeting of Shareholders. Specifically, successfully participating and auctioning off the project to invest in the construction of housing and Song Khe – Noi Hoang commercial service area, Bac Giang province; complete infrastructure, trees and a part of the rough CT2 building of the workers’ housing project combined with trade services in Yen Phong district, Bac Ninh; complete the terraced house component of the project to invest in building houses, houses combined with mixed commerce in Sub-zone 2, the urban area in the South of Bac Giang city, Bac Giang province (the Terra – Bac Giang project); complete the construction of infrastructure items and supplement artwork, enhance lighting systems at Vlasta – Sam Son project, the entire project has been handed over to customers buying houses.
With internal governance work, based on the strategy to 2032 that has been approved, 2023 is the first year that Văn Phú – Invest has implemented strategic initiatives, aiming at the goal of developing systems to fully prepare mechanisms and policies. … in order to anticipate a new cycle of the real estate market, gradually promote digitization in governance and management through the rigorous application of application software and big data. Specifically, the business has deployed and completed many important tasks related to finance, personnel, infrastructure and professional software, strictly controlling the operation process, making adjustments to unsatisfactory points, and improving internal services.
In addition, the business’s leadership has promptly implemented optimal solutions such as saving operating costs, classifying projects and concentrating all resources on completing legal procedures for projects nearing completion in potential localities, implementing optimal solutions for construction to save costs.
“At a time when the capital market is fluctuating, which has a major impact on the stable and continuous operation of businesses, Văn Phú – Invest has maintained financial stability, optimized cost management, and efficiency,” said Mr. Toan
Mr. To Như Toàn, Chairman of the Board of Directors of Văn Phú – Invest, speaks at the AGM meeting
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In addition to improving the quality of internal governance, the business also focuses on research and development (R&D) work to apply research results to design, construction, and operation such as: project review and evaluation. stages according to the green orientation, sustainable, optimal, Smart City application solutions; playgrounds for children using green materials, recycled materials…
The above efforts contribute to helping the business end 2023 with revenue and after-tax profit reaching VND 1,877 billion and VND 463.2 billion, respectively, achieving 85% of revenue and 84% of after-tax profit targets for the year approved by shareholders attending the 2023 Annual General Meeting of Shareholders. This result is considered relatively positive in the context of the real estate market facing many difficulties from the second half of 2022 to the present.
Focusing on core business
With the forecast that the real estate market in 2024 will still face many difficulties, Mr. To Như Toàn said that Văn Phú – Invest will focus on developing the real estate business sector, not expanding other industries.
Besides the main area of residential real estate, the business also develops service real estate sector to create periodic income.
Văn Phú – Invest aims to be a “Humanitarian” real estate developer, taking people as the center of every thought and action. The main segment chosen for projects is considered “core business” (core product – PV) is the mid-range real estate segment in the central and suburban areas of potential provinces and cities. The products are all carefully researched from the needs of customers, meticulously designed, constructed, fully equipped with utilities, complete legal procedures, and supported by banks, thus bringing customers a product. the most suitable.
Typical projects are The Terra Bac Giang – opened for sale from 2023, Vlasta Thuy Nguyen project – Hai Phong expected to open for sale in the fourth quarter of 2024, Vlasta Quang Binh project – Quang Binh expected to open for sale in 2025 and bring to business. revenue of about VND 7,000 billion in the period 2024-2025.
With investment preparation work, the business’s leadership will adhere to the strategy set out, which is to continue implementing projects in key localities with great potential and great room for growth, including: implementing projects related to site clearance, land allocation at Bao Ninh 8 urban area project, Bao Ninh commune, Dong Hoi city, Quang Binh province; implementing work related to the feasibility study of the project to invest in the construction of mixed housing and Song Khe – Noi Hoang commercial service area; completing legal procedures for Nhon Trach project – Dong Nai, Urban Area No. 22 – Bac Giang, Pham Hung project – Hanoi, continue to implement the BT Pham Van Dong – Go Dua project with the goal of being assigned land in 2024.
In addition, Văn Phú – Invest continues to re-plan projects, transferring some projects that are not in the strategy to partners. At the same time, continue to promote M&A activities, explore potential auction projects to increase the land fund as a source of projects for the next years, creating a sustainable development momentum in accordance with the Company’s development strategy. .
With construction and construction work, in 2024, Văn Phú – Invest will continue to implement projects transferred from 2023 such as: Project to build houses, houses combined with mixed commerce in Sub-zone 2, the urban area in the South, Dinh Ke ward, Bac Giang city, Bac Giang province; CT2 block of the workers’ housing and Yen Phong commercial service project, Bac Ninh. At the same time, carry out the construction of the Vlasta Thuy Nguyen project – Hai Phong.
With business operations, with the target of total revenue, profit before tax and after tax for the year reaching VND 2,775 billion, VND 405 billion and VND 350 billion, respectively, Văn Phú – Invest recorded revenue from projects in Bac Giang with revenue. bringing in about 2,250 billion VND, Oakwood Residence Hanoi project bringing in 180 billion VND, other projects 350 billion VND. During the year, the company opened for sale in some new projects such as Vlasta Thuy Nguyen – Hai Phong; workers’ housing and commercial service area Yen Phong, Bac Ninh.
Regarding the after-tax profit distribution plan in 2023, at the Annual General Meeting of Shareholders held on April 26, 2023, the Board of Directors requested opinions on the 2023 after-tax profit distribution plan and was approved by the General Meeting of Shareholders. Resolution No. 2604/2023 with the expected dividend payment rate of 10%.
However, 2023 is the 20th anniversary of the establishment of the enterprise, so the Board of Directors has submitted and been approved by the shareholders attending the 2024 AGM to change the dividend payment ratio from 10% to 20%, in the form of additional payment. issue shares to pay dividends to existing shareholders. The source of implementation is taken from retained earnings after tax. Thus, shareholders holding 10 shares on the record date will receive an additional 2 new shares.
For 2024, the business’s expected dividend payment ratio is 10%.
