At the shareholders’ meeting on the morning of April 27, shareholders of Ha Do Group Corporation Joint Stock Company (stock code HDG) asked many questions about how the generational transfer in Ha Do would be implemented, and how the position of General Director would be selected.
Sharing at the general meeting of shareholders, Chairman of the Board of Directors Nguyen Trong Thong said that Ha Do used to be a state-owned enterprise, starting from zero, so the company paid great attention to sustainable development.
According to Mr. Thong, in the next 5 years, the company will invest heavily in 3 main areas: industrial real estate, energy development and financial investment, in which it will promote the transfer of wind power technology. Solar power is simpler while wind power is currently managed and operated by foreign experts.
For Ha Do to develop sustainably, the company must not rely on any individual. Experience shows that many large corporations develop very quickly but are not sustainable and have collapsed in the past. Therefore, when transferring, the responsibility of the next term Board of Directors is to complete the company’s charter and regulations. To do this, the candidates for the Board of Directors themselves must make a plan for corporate governance development. Recently, the market has had many problems, Ha Do must ensure that all investment activities must be safe, in accordance with the law, in order to develop sustainably. Currently, 2 projects of the company are facing difficulties in legal procedures.
Ha Do’s Chairman wants to expedite the generational transfer.
Speaking about the generational transfer, Mr. Nguyen Trong Thong said that Ha Do’s Board of Directors is different from others. The person transferred to the Board of Directors will have to completely build and complete the company’s charter, from strategy, orientation to building a workforce, especially the process. The person who is transferred to the management position must achieve the assigned results with clear results.
He also frankly said that he personally thinks that the current Board of Directors is still short of staff. The remuneration of the Board of Directors approved by the general meeting of shareholders has not been fully used. One of Mr. Thong’s concerns is the desire to transfer sustainable power to the next generation.
“This year I am over 70 years old, my responsibility is to transfer as soon as possible. Shareholders should support me to transfer sustainably, it is better for shareholders than me sitting here”, said Mr. Thong.
Ha Do’s 7A wind power project in Ninh Thuan.
Shareholders also requested clarification on the exchange rate loss of up to 50 billion VND in the financial report as well as the solutions to ensure risks.
Answering shareholders’ questions, Ha Do’s representative said that in 2022, there were large exchange rate fluctuations because the company had to buy in euros and suffered an exchange rate loss of up to 80 billion VND. However, in 2023, the Euro exchange rate has recovered, so the company has a profit and has a loss of only 50 billion VND. Financial investment must be viewed in the long term.
According to the assessment of the company’s management, 2024 continues to be assessed as having many challenges. Therefore, the business plan for 2024 proposed at the meeting has a consolidated revenue of 2,896 billion VND, after-tax profit of 972 billion VND, up 0.24% and 12.24% respectively compared to 2023. In the period of 2024 – 2029, the company will focus on energy and real estate investment.
The General Meeting of Shareholders approved the expected dividend payment ratio for 2024 at 15%.
In terms of personnel, the conference also elected the Board of Directors for the term 2024 – 2029 with a structure of 7 members, including 5 regular members and 2 independent members.
