On June 19, Horuco held a ceremony to announce and appoint Mr. Nguyen Chon Cuong as the new CEO. The event was attended by representatives from the Vietnam Rubber Industry Corporation and key officials of Horuco.
Mr. Nguyen Chon Cuong receiving congratulations at the ceremony for the announcement and appointment as Horuco’s CEO
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In fact, the position of CEO of Horuco has been vacant since June 2023, when Nguyen Van Quang stepped down and returned to the Vietnam Rubber Industry Corporation. Instead, Deputy CEO Vu Quang Khai was assigned to manage the company. In November 2023, Mr. Nguyen Chon Cuong (then Chief Accountant) was appointed as Deputy CEO.
As for Mr. Nguyen Van Quang, he became the Chairman of the Board of Directors of Horuco in February 2025, replacing Mr. Tran Khac Chung.
Horuco’s personnel situation is expected to change in the near future, as the company recently received resignation letters from Mr. Tran Khac Chung, a member of the Board of Directors for the 2022-2027 term, and Ms. Huynh Thi Ngoc Thu, a member of the Supervisory Board for the same term.
Mr. Chung resigned due to his new role as CEO of Baruco Joint Stock Company (Baruco, UPCoM: BRR), while Ms. Thu attributed her resignation to her busy work in the Planning and Business Department, which left her unable to fulfill her role as a Supervisory Board member.
The upcoming 2025 Annual General Meeting of Shareholders, to be held on June 26, will consider the acceptance of these resignations. Meanwhile, Deputy CEO Vu Quang Khai and Trinh Dinh Phi, an employee of the Inspection and Protection Department, are expected to be nominated and elected as members of the Board of Directors and the Supervisory Board for the 2022-2027 term, respectively.
The meeting will also discuss other important issues, notably the 2025 business plan, which includes a total revenue target of over VND 216 billion (mainly from rubber production and trading) and a profit after tax of over VND 20 billion. Other agenda items include the profit distribution plan, salaries and allowances for the Board of Directors and Supervisory Board, and the selection of an audit firm.
In the first quarter of the year, Horuco achieved nearly VND 38 billion in total revenue and over VND 1.4 billion in profit after tax, fulfilling over 17% and nearly 7% of the annual plan, respectively.
On the stock market, HRC shares have been on a downward trend since the beginning of 2024, following a prolonged period of sideways movement. HRC closed the latest trading session (June 20) at VND 31,050 per share, down nearly 34% year-on-year, with an average liquidity of just over 1,100 shares per day.
| HRC share price has performed poorly in recent years |
– 13:53 23/06/2025
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