“CEO Le Van Nam Plans to Divest Entirely From Hoa Binh Construction”

Mr. Le Van Nam, Member of the Board of Directors and General Director of Hoa Binh Construction Group Joint Stock Company (HBC), has reported the sale of 500,000 HBC shares from May 27-29.

Following this transaction, Mr. Nam’s ownership in HBC decreased from 0.18%, equivalent to 623,700 shares, to 0.04%, or 123,700 shares.

During the period of May 27-29, HBC shares traded in the range of VND 6,200 to VND 6,700 per share. It is estimated that Mr. Nam earned more than VND 3 billion from this transaction.

Notably, Mr. Le Van Nam has registered to sell all of his remaining 123,700 HBC shares from June 5 to July 4 due to personal financial needs. If the transaction is successful, the General Director of HBC will no longer hold any shares in the company.

Mr. Le Van Nam, born in 1976, holds a Bachelor’s degree in Construction Engineering from Ho Chi Minh City University of Technology. He was appointed as the General Director of HBC on June 1, 2023.

In related news, Mr. Le Viet Hieu, Vice Chairman of the Board of Directors and Standing Deputy General Director, has registered to purchase 500,000 HBC shares to increase his ownership from 1.21 million shares (0.35% of charter capital) to 1.71 million shares (0.49% of charter capital). The transaction is expected to take place from May 22 to June 20.

It is known that Mr. Le Viet Hieu (born in 1992) is the son of Mr. Le Viet Hai, Chairman of the Board of Directors of HBC. Mr. Hieu holds a Bachelor’s degree in Business Administration with a major in Corporate Finance from California Polytechnic State University, San Luis Obispo (USA). Mr. Hieu previously served as General Director and was appointed as Standing Deputy General Director on July 23, 2022.

In addition to Mr. Hieu, several members of Chairman Le Viet Hai’s family hold HBC shares. As of the end of 2024, Chairman Le Viet Hai held 46.98 million HBC shares (13.53% stake); his wife, Mrs. Bui Ngoc Mai, held 4.7 million HBC shares (1.37% stake); Mr. Le Viet Hung, elder brother of Mr. Le Viet Hai, held 1.3 million HBC shares (0.39% stake); and Ms. Le Thi Anh Thu, sister of Mr. Hai, owned 2 million shares (0.58% stake), among others.

In terms of business performance, in the first quarter of 2025, Hoa Binh Construction recorded a revenue of VND 692 billion, a decrease of 58% compared to the same period last year. However, gross profit increased by 146% year-on-year to VND 52.4 billion. As a result, HBC reported a net profit of VND 5.3 billion, a decrease of 90.5%.

For the full year 2025, Hoa Binh Construction set a target of VND 9,000 billion in total revenue and VND 360 billion in expected net profit. After the first three months of the year, the company has achieved 1.5% of its annual profit plan.