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).

On February 1st 2023, the leadership team of Construction Joint Stock Company 47 (HOSE: C47), comprised of Mr. Phong, Pham Nam, Chairman of the Board of Directors (BOD), and Mr. Quang, Duong Minh, Member of the BOD, General Manager, visited the Nam Phak Hydropower Project construction site in Lao People’s Democratic Republic and encouraged all employees. The C47 Board of Directors also met with Song Da 5 Joint Stock Company during this trip.

Nam Phak Hydropower Project is a large project requiring a high level of professionalism and the collaboration of some significant construction companies in Vietnam. C47 is also the constructor of Nam Pha, Nam Phak, and Phoupong Dams, with a total contract value of nearly VND 800 billion.

Nam Phak hydropower project is situated in the southwest corner of Bolaven Plateau, approximately 10 kilometers southwest of Paksong town in southern Lao PDR, and makes use of the 700-meter elevation difference between the plateau and the plain to the south. The project will collect flows from several northwest- and southwest-flowing streams on the plateau and redirect them through two streams to Nam Pha reservoir. The preferred plan consists of two reservoirs and two power generation facilities, the larger of which is situated on the shore of Houay Namphak at the base of the plateau cliff, with a total installed capacity of 128MW.

Since the project’s inception, C47 has utilized approximately 500,000 m3 of soil, excavated a variety of rocks, and simultaneously implemented measures such as excavating the left abutment foundation and the right abutment dam (Nam Pha, Phoupong, Nam Phak), etc.

The progress of the project requires both a capable workforce and suitable equipment. C47 prioritized securing experienced personnel and necessary equipment upon the execution of the contract to facilitate construction progress on the site. To date, C47 has assembled a team of approximately 185 employees and procured approximately 100 pieces of equipment, vehicles, and machinery, including dump trucks, excavators, bulldozers, drills, and others. Further workforce and equipment augmentations are anticipated in the future to maintain progress, with a particular focus on completing the foundations of Phoupong and Nam Pha dams, including the left abutment, right abutment, and riverbed, as the schedule.

According to the construction plan for the C47 project, more than 3,129,000 cubic meters of diverse soil and rock materials will be required to be excavated in the year 2023. C47 and Song Da 5 have collaborated to organize “Launching ceremony for the 120-day campaign to achieve the targets for the first 6 months of 2023”. The objective of this initiative is to complete the excavation plan while concurrently preserving the progression of the overall construction project.

In addition to implementing the Nam Phak Hydropower Project, C47 is currently focusing on accelerating the construction progress of key projects of the Company, such as: Hoa Binh Hydropower Plant Expansion Project (worth nearly VND 1,000 billion); Phu Phong Weir Dam Project (worth nearly VND 600 billion); Hoa Phat Dung Quat 2 Project (pre-tax valued VND 440.9 billion) and other projects to ensure a 2023 revenue plan value of VND 1,400 billion. C47 is also continuing to implement and bid on large projects to improve production scale, revenue, and profit to protect the interests of Shareholders and Company.

On January 5, 2023, in Hanoi, Vietnam Report JSC (Vietnam Report) and VietNamNet Newspaper held the VNR500 Announcement Ceremony. According to the announced rankings, this is the 15^th consecutive time for Construction Joint Stock Company 47 (HOSE: C47) ranked in the Viet Nam’s Top 500 Largest Private Enterprises, the first time C47 ranked in VNR500 is 2008.

The VNR500 entered it’s the 16th year on the journey to finding, recognizing and honoring the worthy achievements of the largest enterprises in Vietnam, gained the remarkable achievements in production and business activities. The main criterion to rank the enterprises is revenue, as per the Fortune 500 model (USA). In addition, VNR500 also judge the factors of total assets, total number of employees, growth rate, profit, reputation in the media to assess the current overall strength of the companies.

Being honored in the Viet Nam’s 500 largest enterprises for 15 consecutive years is an affirmation of the right development orientation of C47, thereby affirming the brand, prestige and professionalism in the management and operation, showing the suitability of the development orientation set out by the Company’s leaders.

Currently, C47 is the leading company in sector of the construction of irrigation, hydropower, civil and industrial projects across the country, of which very new technologies for the first time developed by C47 such as roller compacted concrete (RCC), tunneling technology using TBM Robot, etc., with many key projects worth trillions of Vietnamese dongs. In the last 15 years, C47 has completed more than 30 irrigation and hydropower projects national-wide, which have been making an important contribution to the management and efficient use of water resources, ensuring 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).

Nam Phak hydropower project is located in the southwest corner of Bolaven Plateau, about 10km southwest of Paksong town in the southern of Lao PDR and takes advantage of the high elevation variations of 700m between the plateau and the plain to the south. The project will gather flows from several streams on the plateau flowing in the northwest and southwest directions and divert this flow through two streams to Nam Pha reservoir. The preferred scheme includes two reservoirs and two power generation facilities, of which the larger one is located on the shore of Houay Namphak at foot of the plateau cliff, the project with total installed capacity of 128MW. Construction Joint Stock Company 47 (HOSE: C47) is the constructor for Nam Pha, Nam Phak and Phouphong Dams, with total contracted value of nearly VND 800 billion.

Upon receiving the construction site on August 25, 2022, C47 promptly gathered manpower and construction equipment for speeding up the work items according to the approved construction plan.

As of date, the items such as Magazines, Workshop, Warehouses, Site Camps and Site Management Office, etc, have been basically completed by C47. In addition, the construction activities such as Site clearing work (right abutments of Nam Pha dam, Phou Pong dam, Disposal Areas No.1, 2 & 6) with completed volume over 287,000m2; The excavation of foundation pits, road embankment for access roads of TC12, TC04, TC06, R3 with completed volume of soil and rocks up to 84,000m3 that also met the projected schedule.

C47 is currently concentrating on manpower and equipment, executing three shifts per day for continuous construction, in which priority for construction of the dam foundation pits (Nam Pha, Phou Pong) to complete the target project milestones.