Ninh Van Bay Real Estate Joint Stock Company (code: NVT, HoSE) recently announced a change in personnel.
Accordingly, Mr. Vu Hong Quynh no longer holds the position of CEO from June 27th due to personal reasons. On the other hand, Mr. Do Quang Hai, Executive Advisor, assumes the role of CEO also from June 27th.
Mr. Vu Hong Quynh, born in 1972, holds two master’s degrees in Business Administration and Economics and a bachelor’s degree in Law. He was elected to the Board of Directors and the Executive Board of Ninh Van Bay in 2022. However, in May 2024, Mr. Quynh was relieved of his duties as a member of the Board of Directors.
The new CEO, Mr. Do Quang Hai, born in 1970, also joined the NVT Board of Directors on May 27, 2024, replacing Mr. Vu Hong Quynh.

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In the first quarter of 2025, Ninh Van Bay recorded consolidated revenue of over VND 120 billion, an increase of over VND 7 billion compared to the same period last year. After deducting cost of goods sold, gross profit was over VND 73 billion, an increase of over VND 7 billion compared to the previous year.
After tax and expenses, the company’s net income was over VND 22 billion, an increase of VND 7 billion compared to the same period last year. Net income after tax attributable to the parent company was over VND 7 billion, doubling that of the previous year. Thanks to this profit, the accumulated loss at the end of the first quarter of 2025 decreased to VND 715 billion.
With this accumulated loss, NVT shares of Ninh Van Bay continue to be on the warning list.
For the fiscal year 2025, Ninh Van Bay set a business plan with a consolidated revenue target of nearly VND 446 billion and a net income target of nearly VND 51 billion, up nearly 9% and more than double the performance of 2024, respectively.
Accordingly, in 2025, NVT will focus on implementing existing real estate projects. In particular, the company aims to complete all legal procedures to commence the construction of the second phase of the Six Senses Ninh Van Bay resort project.
In addition, NVT continues to research and develop premium products at Six Senses Ninh Van Bay, focusing on creativity and differentiation. These studies are conducted to assess the feasibility and market potential of new products, thereby making informed investment decisions and attracting high-end customers to the project.
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