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: