That is the through direction of Board of Directors and Management Board of Construction Joint Stock Company 47 (HOSE: C47) since this year beginning to accelerate the construction progress for Nam Phak Hydropower Project, Lao PDR particularly and the on-going projects that being undertaken by C47 generally. At the weekly meetings, C47 leaders urge and direct the functional departments to regularly follow-up the project schedule and actively support and propose the appropriate solutions to the actual problems (if any) on the construction sites.

Nam Phak hydropower project is a professional construction project with high level of expertise, with complex topographic and geological features, but thanks to timely direction of C47 leaders, along with cohesion and unceasing efforts from the experienced engineers, skilled workers and enthusiastic workers team of Nam Phak construction site, and with new, modern and synchronous equipment line that accelerated the construction progress and completed more than 110% of the plan “The 120-day emulation campaign to complete the plan, target for the first 6 months of 2023 at Nam Phak Hydropower Project” was previously launched on February 1, 2023.

Up to date, completed the important project items such as the right abutment of Nam Phak Dam, the foundation excavation to the design elevation from chainage K0+400 to K0+940 and completed the upstream slope cutting work; the upstream side of dam left abutment completed the excavation work up to the permanent support EL.955.0m, the downstream side reached EL.959.6m and continuous excavation down to EL.939.6m, with volume of excavation and transportation of rock and soil is 1,502,300m³. Now, C47 focusing on construction of the remain volume of zone I (expected to be completed by June 20, 2023), slope cutting for remaining part of zone II and construction of zone III.

According to the 2023 production plan, C47 must focus on executing many projects such as: Phu Phong Weir PJT, Tan An – Dap Da Irrigation System PJT, Cat Tien – Diem Van Road PJT, Becamex VSIP Binh Dinh PJT (Binh Dinh province), Ta Hoet Reservoir PJT (Lam Dong province), Hoa Phat Dung Quat 2 Iron and Steel Production Complex PJT (Quang Ngai province), Hoa Binh Hydropower Expansion PJT (Hoa Binh province), Nam Phak Hydropower PJT (Lao PDR), etc. of which some of them are important projects contributing for water-resource security, energy security, serving economic – social development and daily life needs such as projects of Phu Phong Weir, Tan An Dap Da Irrigation System and Hoa Binh Hydropower Expansion, etc. The works progress and quality are the special concerns of the project owners. Grasping this importance, C47 always aims to ensure the project schedule and quality firstly, during the process of construction tasks, focusing on allocating human resources and equipment suitable for each project, always ensure to bring the project to the set-up target in advance or on schedule.

On April 23, 2023, at the 11^th Floor Hall, Building C47 – Hai Au Bien Cuong Hotel, #8 Bien Cuong Str., Quy Nhon city, Binh Dinh province, Construction Joint Stock Company 47 (HOSE: C47) held the 2023 Annual General Meeting of Shareholders. Attending the Meeting were 36 ownership and authorized delegates represented 14,503,734 voting shares, accounting for 52.68% of total number of voting shares.

The General Meeting heard the 2022 Operating Reports of the Board of Directors (BOD), the Audit Committee and the 2023 Operating Plan; the proposals of the Board of Directors to the General Meeting.

In 2022, with the overall context of the economy facing many difficulties, the financial and credit situation is tight, the Client’s disbursement for some projects and works is still slow, affecting the cash flow for production activities. The Board of Directors has made great efforts, always closely following the actual situation, production and business conditions, flexibly and promptly responding to the Company’s production activities in each period, in order to ensure the construction progress of the projects, especially key works to be completed for taking-over and plans for the flood overcome such as Dong Mit Reservoir, Phu Phong Weir (Binh Dinh province), etc. From the beginning of 2023, the Board of Directors directed the Executive Board concentrate resources to speed up the construction progress, research and innovate the construction methods, saving costs for the ongoing projects such as: Hoa Phat Dung Quat 2 Iron and Steel Complex Project (Quang Ngai province), the projects of Phu Phong weir, Cat Tien – Diem Van highway, Becamex Binh Dinh IP, Tan An – Dap Da Irrigation system (Binh Dinh province), Hoa Binh hydropower plant expansion project (Hoa Binh province), Nam Phak hydropower project (Lao PDR) and continue to bid for new projects, especially exploiting the tourism, hotel and restaurant sectors (Seagull hotel, 4-stars and Hai Au Bien Cuong hotel, 3 stars) to increase revenue and profit, ensuring the harmony of interests of Shareholders and the Company in 2023, shared by Chairman Pham Nam Phong.

At the Meeting, the Board of Directors of C47 submitted to the General Meeting the 2023 business plan with total revenue: VND 1,000 billion, profit after tax of VND 25 billion and a minimum dividend payment rate of 5%, form of payment in cash or shares.

At the same time, the Board of Directors of C47 also submitted to the General Meeting to approve other important contents such as: Audited financial statements for 2022; Select an audit unit to review the semi-annual financial statements and audit the financial statements for 2023; plan to pay remuneration to the Board of Directors in 2022 and 2023; The plan to issue the shares to pay dividends in 2022 at the rate of 10%; amending the internal regulations on corporate governance, operating regulations of the Board of Directors and unanimously approved by all shareholders with the rate of 99.98%.

Noted at this Meeting, shareholders highly appreciated the efforts and stable and sustainable development of C47; At the same time, expressed desire to continue to support and assign the Board of Directors and the Executive Board to be proactive in management and administration, contributing to the development of C47 and bringing the practical benefits to employees and shareholders.

Some more pictures at the Meeting:

In 2022, thanks to the strong recovery and growth of the tourism industry, along with timely support and facilitation from the Board of Directors and the CEO, the functional departments of Construction Joint Stock Company 47 (HOSE: C47), Hai Au Hotels (Hai Au) recorded an impressive revenue of 104.2% of the 2022 plan, with EBITDA reaching 97.7%.

On April 5, 2023, the Hai Au hotels organized the Meetings on the Business Activities Review for 2022 and the Labor Conference for 2023, to evaluate the business efficiency in 2022 and set business plans for 2023. The Meetings was attended by Mr. Pham Nam Phong – Chairman of the Board of Directors (BOD), Mr. Tran Duc Duong – Deputy General Director, leaders of functional departments C47, as well as all Hai Au’s staffs and employees.

In his keynote address at the Meeting, Chairman Pham Nam Phong, on behalf of the Board of Directors, congratulated and highly appreciated the efforts of the Hai Au’s staffs and employees for their business results in 2022. Mr. Phong also shared that the Board and the Company’s management team will always accompany and provide the best conditions for the Hai Au to develop further, as well as to provide a suitable strategic direction for development based on existing resources. In addition, Chairman Pham Nam Phong also requested the Hai Au’s staffs to make more efforts in seeking opportunities and building effective business plans, especially to promote the brands of Seagull Hotel Quy Nhon and Seagull Travel tourism, in order to increasingly affirm their brand in the national and international hotel and tourism system.

According to the business performance report for 2022, with the effort of all employees of the Hai Au hotels, along with the strong recovery and growth of the tourism industry, the hotels, restaurant, and tour operation of the Hai Au hotels have made impressive development, exceeding the company’s revenue target with a rate of 104.2%, in which the revenue from the hotels and restaurant services accounted for 84.5%, and tour operation accounted for 15.5%; EBITDA achieved 97.7%.

The Hai Au Hotels is wholly owned by C47, includes one four-star standard hotel (Seagull Hotel, located at #489 An Duong Vuong Str., Quy Nhon, Binh Dinh) and one three-star standard hotel (Hai Au Bien Cuong Hotel, located at #8 Bien Cuong Str., Quy Nhon, Binh Dinh), as well as Seagull Travel Co., Ltd. with its Seagull Travel Service Center. Located in the dynamic center of Quy Nhon city, with modern facilities and high-quality accompanying services, chain of hotels, restaurants, and travel services of the Hai Au continuously welcomes MICE groups with many combined leisure travels and organization of the event, seminars, conferences, team building, Gala Dinner, etc. Especially, for many years, the Hai Au Hotel system has become a top accommodation choice for organizations, television units, the local and oversea celebrities.

On February 20, 2023, the People’s Committee of Lam Dong province held the groundbreaking ceremony for construction of Ta Hoet Reservoir Project in Duc Trong district, Lam Dong province. Construction Joint Stock Company 47 (HOSE: C47) and members of the JV contractor for construction of the package 10: Construction and equipment installation of the headworks and cleaning up the lake bed under Ta Hoet Reservoir. Total contract value is VND 319,416 billion.

Once completed, Ta Hoet Reservoir Project has the task of regulating the incoming water sources for multi-purpose use, including: Irrigation water supply for 2,580 hectares of farming land; creating of domestic water supply for about 35-40% of the needs of people in Duc Trong district, especially households in Hiep An commune. In addition to water supply for the people’s needs, Ta Hoet reservoir will help improve the vegetation around the reservoir area, contribute to improving the environment, creating a landscape for tourism and resort development, aquaculture and create driving force for socio-economic development in Hiep An commune in particular and Duc Trong district in general.

Ta Hoet Reservoir Project is a key project of Lam Dong province for period of 2021 – 2025, has an important meaning and brings many great benefits, helping to overcome the flood situation, contributing to stabilizing production of the local people, promoting the development of agriculture and tourism, creating the economic and social development, strengthening national defense and security in the locality. This is one of many irrigation projects that undertaken by C47 during its nearly 50-year development journey. In the last 15 years, C47 has completed more than 30 irrigation and hydropower projects national-wide with value more than VND 20,000 billion.

With a long tradition in the sector of construction of the irrigation and hydroelectric projects, C47 has been making an important contribution to the management and efficient use of water resources, ensuring water security and safety of reservoir dams for sustainability for the agricultural production and people’s lives. That’s why, Goal 6 (Clean Water and Sanitation) is one of the important Sustainable Development Goals that C47 always strives towards in its development journey.

Besides Goal 6, C47 is also working towards Goal 8 (Decent Work and Economic Growth), Goal 7 (Affordable and Clean Energy) and Goal 17 (Partnerships for the Goals).