Mr. Tuan Anh only recently joined EIN’s Board of Directors on June 28, 2024, following his election at the 2024 Annual General Meeting of Shareholders. Initially, he served as an Independent Director, and on July 4, he was elected as Chairman of the Board. Conversely, the previous Chairman, Mr. Pham Minh Khanh, stepped down to assume the role of Independent Director.
Mr. Tuan Anh’s appointment to EIN’s Board was proposed by Hanoi Electrical Equipment and Technology Joint Stock Company, a major shareholder owning 33.03% of EIN’s capital, at the 2024 Annual General Meeting. According to his resume, Mr. Tuan Anh was born in 1975, and at the time of his election, he served as the General Director of Mirea Real Estate Investment Company Limited. EIN’s 2024 management report indicates that Mr. Tuan Anh does not own any shares in the Company.
Continuing the expectation of returning to profitability
Regarding the agenda of the Annual General Meeting, EIN’s management set targets for 2025, aiming for a total revenue (including financial income) of VND 10 billion and a pre-tax profit of VND 500 million. The revenue target is only a quarter of the 2024 revenue; however, if the profit goal is achieved, 2025 will be the year the Company returns to profitability since 2022.
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EIN’s 2025 Business Plan
Source: EIN
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In 2024, EIN surpassed its revenue plan by nearly VND 11 billion (reaching nearly VND 41 billion) but incurred a pre-tax loss of nearly VND 32 billion. The revenue mainly came from hotel and restaurant services, and the Company has not recorded any revenue from real estate and goods sales in the last two years.
In 2023, EIN encountered an incident involving its former Chairman, Mr. La Quang Binh. Currently, all of the Company’s assets are temporarily restricted from transfer to verify their ownership, as requested by the Ministry of Public Security. This situation significantly impacts the Company’s business operations and project implementations. EIN is cooperating with the Ministry of Public Security until a conclusion is reached regarding this matter, and all projects are also on hold, awaiting the investigation results.
Specifically, the commercial floors in Peridot Apartment are still being leased out, and this asset is used as collateral for the Company’s financial activities. Additionally, the building at 25A Tang Bat Ho, Binh Thanh District, is currently mortgaged at a bank.
Tycoon La Quang Binh’s scheme causes a loss of over VND 948 billion for banks
EIN denies involvement in La Quang Binh’s alleged bribery case
– 14:58 06/06/2025
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