On April 4, 2026, Construction Joint Stock Company 47 (HOSE: C47) successfully held the 2026 Annual General Meeting of Shareholders at the Hall on the 11th Floor, Building 47, No. 8 Bien Cuong, Quy Nhon Nam Ward, Gia Lai Province.
Hai Au Hotel, Building 47 – No. 8 Bien Cuong, Quy Nhon Nam Ward, Gia Lai Province
The venue accompanying the 2026 Annual General Meeting of Shareholders
Based on the agenda approved by the General Meeting with a high level of consensus, the session continued to be conducted in a structured, rigorous, and focused manner. At the Meeting, Mr. Pham Nam Phong – Chairman of the Board of Directors – presented the Report on the Board of Directors’ activities in 2025 and the operational plan for 2026; Ms. Chu Thi Tu Anh and Mr. Bui Quoc Thanh, as independent members of the Board of Directors serving on the Audit Committee, presented the Report on the activities of independent members of the Board of Directors within the Audit Committee in 2025 and the operational plan for 2026.
The comprehensive and transparent presentation of key reports at the Meeting not only demonstrated a strong commitment to transparency and accountability in corporate governance, but also provided shareholders with a clearer view of the Company’s performance, management priorities for the coming year, and long-term development orientation.
Mr. Bui Quoc Thanh – Independent Member of the Board of Directors and Member of the Audit Committee, on behalf of the Shareholder Eligibility Verification Committee, presenting the report on shareholder eligibility
Mr. Pham Nam Phong – Chairman of the Board of Directors of Construction Joint Stock Company 47 presenting at the Meeting
Ms. Chu Thi Tu Anh – Independent Member of the Board of Directors and Chairwoman of the Audit Committee presenting at the Meeting
Mr. Duong Minh Quang – Member of the Board of Directors and General Director of Construction Joint Stock Company 47 presenting at the General Meeting
Mr. Pham Nam Phong – Chairman of the Board of Directors at the 2026 Annual General Meeting of Shareholders
The success of this year’s Meeting was not only reflected in the completion of all agenda items, but also in the strong level of consensus achieved. At the opening, the Meeting recorded 37 shareholders in attendance, representing 19,872,484 voting shares, equivalent to 54.68% of total voting shares, satisfying the quorum requirements in accordance with the law. Notably, key items at the beginning of the Meeting such as the Working Regulations, the composition of the Presidium, the Secretariat, and the Meeting Agenda were approved with 100% of votes in favor. This represents a positive indicator of trust, unity, and shareholder alignment with the Company’s governance direction.
The 2026 AGM took place in the context of C47 having just completed a pivotal year with many positive developments. According to the documents presented, in 2025 the Company achieved VND 1,666.8 billion in revenue from sales and service provision, fulfilling 111.2% of the plan; profit after tax reached VND 52.24 billion, achieving 130.6% of the plan; and the dividend payout ratio was maintained at 10%. These figures not only reflect the Company’s ability to exceed its targets, but more importantly demonstrate its execution capability in a market environment that remains volatile.
Building on this foundation, the Meeting approved key targets for 2026, including revenue of VND 1,800 billion, profit after tax of VND 60 billion, and a dividend payout ratio of 10%. Compared to the 2025 results, this represents an increase of 7.99% in revenue and 14.85% in profit after tax, conveying a clear message: C47 is not only pursuing growth in scale but is also focusing more strongly on improving earnings quality, operational efficiency, and shareholder value.
Shareholders voting on general matters at the General Meeting
A notable aspect of the Meeting was that it went beyond merely “approving targets” and clearly reflected a strong action-oriented mindset and commitment to execution. The discussion session demonstrated that shareholders raised substantive questions, ranging from dividend policies and Board remuneration to the feasibility of achieving the 2026 plan amid geopolitical volatility, fuel price fluctuations, and global supply chain risks. The open and transparent exchange, along with detailed responses from the Presidium, transformed the Meeting into a meaningful dialogue platform, thereby further strengthening shareholder confidence in the Company’s governance and accountability.
The Presidium presiding over the 2026 Annual General Meeting of Shareholders
In response to shareholder concerns regarding the feasibility of achieving the 2026 targets, the Presidium affirmed that the VND 1,800 billion revenue plan is built upon projects already underway and those in the pipeline. At the same time, the Executive Board will continue to expand bidding activities, seek additional projects in irrigation and transportation sectors, further develop existing hydropower projects domestically, and simultaneously explore energy investment opportunities in other countries through cooperation with major domestic and international partners. This message is particularly valuable to investors, as it demonstrates that C47’s growth is grounded in real projects, selective expansion strategies, and a development vision that extends beyond traditional markets.
From a risk management perspective, the Company also demonstrated a proactive approach. For overseas projects, the Presidium stated that contracts include force majeure clauses, and the Executive Board is actively working with project owners to agree on cost-sharing mechanisms in the event of adverse developments. For domestic projects, particularly those funded by the State, the Company indicated that there are mechanisms for price adjustments in line with market fluctuations; additionally, there remains potential to supplement revenue from certain works not yet included in the official 2026 plan. This indicates that C47 is not only pursuing growth but is also preparing contingency measures to safeguard project progress, profit margins, and shareholder interests under various scenarios.
The positive atmosphere of the Meeting was further reinforced by details reflecting a responsible governance culture. Regarding the proposal to increase Board remuneration, the Presidium proposed maintaining the original submission and indicated that any difference would be considered for allocation to employee incentive funds. For investors, this is not merely a cost-related decision but also a signal of a sharing mindset, alignment between management and employees, and a governance philosophy that prioritizes long-term efficiency over short-term benefits.
From a strategic perspective, the 2026 AGM further clarified C47’s growth story built on its core construction capabilities. The Meeting documents show that in 2025, the Company continued to leave its mark on key projects such as Hoa Binh Hydropower Expansion, Nam Phak, and Nam Neun 1 in Laos; while maintaining its strategic focus on core sectors associated with irrigation and hydropower construction, expanding opportunities in energy, and exploring international markets. This provides the basis for the market to recognize C47 not merely as a traditional construction contractor, but as an enterprise gradually expanding its growth space based on experience, execution capability, and long-term vision.
Another factor reinforcing investor confidence is that, following the audit of the 2025 financial statements with an unqualified opinion, C47 shares were removed from the supervisory status as of March 10, 2026. This represents a significant improvement in corporate image, enhancing transparency, strengthening market confidence, and creating a more favorable foundation for investor relations activities in the coming period.
Overall, the 2026 Annual General Meeting of Shareholders of C47 was a success in terms of organization, content, and the message conveyed to the market.
- It was a message of consensus, as key contents received strong shareholder approval.
- It was a message of confidence, as the 2025 results laid the foundation for higher targets in 2026.
- Above all, it was a message of growth ambition, demonstrating that C47 is entering a new phase with a more proactive mindset, a broader vision, and stronger determination to enhance sustainable value for shareholders.
The 2026 Annual General Meeting of Shareholders concluded successfully, completing all agenda items in a spirit of discipline, consensus, and responsibility, further affirming the strong alignment between the Board of Directors, the Executive Board, and shareholders.
With an increasingly solid foundation, clearly defined growth targets, and reinforced market confidence, C47 is ready to embark on a new development journey with a proactive mindset, strong determination for breakthrough transformation and global expansion, and a commitment to creating sustainable, long-term value for shareholders and investors.
Some highlights from the Meeting:
C47