On April 24, Vinhomes Joint Stock Company (stock code: VHM) held its annual General Meeting of Shareholders (GMS) for 2024. This year, the company planned its business in 2024 with a revenue of VND 120,000 billion and a profit after tax of VND 35,000 billion; increasing by 16% and over 4% compared to that of 2023.
Regarding the profit distribution plan in 2023, the Board of Directors of Vinhomes plans to submit to the GMS to allocate VND 5 billion to the Reserve Fund as prescribed by the company’s Charter. The remaining profit is expected to be invested in the company’s production and business activities.
The remuneration level for the Board of Directors is expected not to exceed VND 20 billion, and the remuneration for the Supervisory Board is not to exceed VND 2 billion. Accordingly, this corporation will not pay dividends in 2023, marking the second consecutive year.
According to the leaders of Vinhomes, Vinhomes’ business situation and the launch of new projects have been favorable. Notably, the company has recently introduced the Vinhomes Royal Island urban project on an 877-hectare scale. In less than a month since its launch, 2,000 customers have placed orders. In addition, low-rise subdivisions in Vinhomes Ocean Park 2-3 and apartment buildings in Vinhomes Ocean Park, Vinhomes Smart City, and Vinhomes Grand Park, developed by Vinhomes in collaboration with secondary investors, are still attracting the attention of many customers.
Vinhomes has also recently launched a new retail real estate product in the Grand World subdivision of the Ocean City mega-project (Vinhomes Ocean Park 1, 2, and 3), with an average of nearly 100,000 visitors coming to experience it every weekend. Following the success of The Venice subdivision in this complex, on April 26, Vinhomes will open the K-Town subdivision with 343 shops designed in a distinctly Korean style, completing the puzzle of the Grand World super complex of cuisine, entertainment, and shopping.
