The Executive Committee hosted the Congress.
CIENCO4 Group Joint Stock Company (stock code: C4G) has successfully held the 2024 Annual General Meeting of Shareholders.
In attendance at the Congress were 40 shareholders, representing 260,507,400 shares and comprising 72.91% of the total shares with voting rights. Based on the Law on Enterprise and the regulations of the CIENCO4 Group Charter, the meeting was qualified to be held in accordance with regulations.
The General Director’s report on the production and business operation results for 2023 at the Congress: in 2023, CIENCO4 Group signed contracts for a number of construction bid packages with large values such as: North-South Expressway, Hau Giang-Ca Mau section: 6.466 billion; North-South Expressway, Khanh Hoa-Buon Ma Thuot section – XL03 bid package: 2.974 billion; Hanoi Ring Road 4 – XL11 bid package: 889 billion; Ho Chi Minh City Ring Road 3 – XL08 bid package: 1.418 billion); Ho Chi Minh City Ring Road 3 – XL10 bid package: 1.637 billion; Long Thanh Airport – Bid package 4.6: 7.244 billion; QL14B Da Nang City: 481 billion.
In investment work: The group has joined forces with T&T Infrastructure Investment and Development Co., Ltd. to win the Quang Tri Airport bid with a total investment of: 5.821 billion.
Transportation construction projects invested in the form of BOT contracts: QL1 project, Nam Ben Thuy Bridge section – Ha Tinh bypass; QL38 project, Yen Lenh – Vuc Vong section; QL1 project, Nghi Son – Cau Giat section; QL3 project, Thai Nguyen – Cho Moi section: Toll collection, management, and exploitation are good, ensuring safety. The obstacles of BOT projects are being resolved by the State and ministries and sectors, such as the Thai Nguyen – Cho Moi project; The Cau Cau Resort project is being restarted.
Mr. Nguyen Van Tuan – Chairman of the Board of Directors – Presenting the Board of Directors’ Report.
As for the Group’s real estate projects, they are currently being exploited effectively, such as: 116 Dinh Tien Hoang Office Building; 37 Dao Duy Anh building; 29 Quang Trung Office – Vinh City; Building No. 19 – Alley 043 Giai Phong; 61 Nguyen Truong To project, Vinh City; Project 180 Nguyen Thi Minh Khai,…
In particular, in the context of general difficulties, closely following the contents and indicators of the Resolution of the General Meeting of Shareholders, the Group’s Board of Directors has focused on deploying and assigning the General Director, departments, offices, and specialized units to organize implementation. In the process of implementing regular direction, inspection, supervision, and adjustment of the plan in accordance with each period in terms of cash flow of enterprises in 2023, CIENCO4 Group has basically ensured capital sources to maintain production and business activities. The revenue of CIENCO4 Group in 2023 reached 2,733 billion VND, and the consolidated profit after tax reached 139,241,741,896 billion VND.
Anticipating the opportunity for recovery in the field of transport infrastructure construction, CIENCO4 has focused on prioritizing resources to promote investment in both breadth and depth in the following areas: transport infrastructure, real estate, resort tourism, financial business, renewable energy,…
In 2023, the Group successfully offered 112.36 million shares to existing shareholders at a ratio of 2:1 and successfully issued 20.22 million shares to pay dividends to shareholders (6%), thereby increasing charter capital to 3,573 billion VND. This result has given the Group enough counterpart capital to participate in bidding for North-South Expressway projects and key projects.
In which, large construction contracts with a total value of 12,900 billion VND, typically projects belonging to the North-South Expressway Construction Project, phase 2021-2025, with a total contract value of 4,150 billion VND; projects in the field of airport construction, repair, and upgrading, with a value of over 3,000 billion VND; Bid packages XL8 and XL10 “Construction of Ho Chi Minh City Ring Road 3”: 940 billion VND; Construction bid package for Ring Road 4 – Capital Region of Hanoi: 436 billion VND… These projects are the foundation for the success of the Group’s following years.
The opportunity for CIENCO4 is great as the Government and the Ministry of Transport are implementing a series of strategic transportation infrastructure projects such as the North-South Expressway, East (phase 2), Long Thanh International Airport, Hanoi and Ho Chi Minh City ring roads, and many other important transportation projects.
In the coming years, the Government and ministries and sectors will continue to focus on investing in strategic transportation infrastructure routes, including the North-South Expressway, East (phase 2), high-speed railway, airport, and seaport… This is a great opportunity for construction businesses in general and CIENCO4 in particular. Bringing into play the results achieved in the previous term, it is forecasted that the following years will be a favorable term for CIENCO4 to continue to develop further, maintaining its position as a leading enterprise in transportation infrastructure construction in Vietnam. The Board of Directors is confident that it will fulfill the targets set for 2024 and the following years.
Regarding the production and business plan for 2024: in 2024, the Government and ministries and sectors will focus on strategic transportation infrastructure routes such as highways, Long Thanh airport, and a number of other important transportation projects. This is a great opportunity for construction businesses in general and CIENCO4 in particular. CIENCO4’s 2024 production and business plan sets a revenue target of 4,500 billion VND, a post-tax profit of 250 billion VND, a dividend payout of 8%, and a due debt repayment ability coefficient of > 1.
