One of Hoa Binh Construction Group’s projects
Hoa Binh Construction Group JSC (Hoa Binh Construction) has just announced
information on “Explanation of measures and roadmap to overcome the reasons
leading to the situation of securities being warned and controlled” on Ho
Chi Minh City Stock Exchange (HoSE).
According to Hoa Binh Construction, the company received a decision to
transfer its shares from restricted trading to controlled trading from January
19.
The company said that in the past time, it has closely coordinated with the
auditing unit to complete and announce the 2023 audited financial statements
on time as regulated on March 30. On July 17, the company also announced the
second-quarter 2024 separate financial statements and consolidated financial
statements ahead of the prescribed deadline.
In the future, Hoa Binh Construction strives to complete and announce the
2024 semi-annual reviewed separate financial statements and reviewed
consolidated financial statements on time as regulated.
In addition, Hoa Binh Construction’s shares were put on warning from July
13, 2023, due to the reason that the after-tax profit undistributed at
December 31, 2022, on the 2022 audited consolidated financial statements was
negative.
Hoa Binh Construction explained that in the context of the economy in
general and the construction – real estate industry, in particular, being
affected by many unfavorable events in the country and in the world, the
company has been implementing a comprehensive restructuring to improve
production efficiency and business performance to overcome the crisis.
On June 28, 2024, Hoa Binh Construction announced information on the
results of the issuance of shares to swap debts with a total amount of
73,080,000 shares, helping to increase its charter capital by VND 730.8
billion. The company also oriented to expand the construction market for
industrial projects, infrastructure, social housing, and develop the foreign
market.
The company also continues to implement the development strategy in the
processing and manufacturing industry market following the wave of
investment shifting to Vietnam.
According to the leadership of Hoa Binh Construction, the company
orients its strategy to find customers with prestige and good financial
potential. The company expands the provision of construction services in
the world market, cooperates to provide construction-related services,
building materials, designs… with partners, and increases value in the
business activity chain.
The company also mobilizes the maximum human resources to serve the
collection of overdue debts and uses many effective solutions to recover
debts.
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