On April 23, 2025, at the 11th floor Hall, Building C47 – Hai Au Bien Cuong Hotel, No. 8 Bien Cuong Str., Quy Nhon City, Binh Dinh Province, Construction Joint Stock Company 47 (HOSE: C47) held the 2025 Annual General Meeting of Shareholders (AGM). The Meeting took place with participation of 45 shareholders owned and authorized to represent 22,657,325 voting shares, accounting for 62.34% of total voting capital.
At the General Meeting, shareholders listened to and discussed on the Performance Reports on the Board of Directors (BOD) in 2024, the Review of the 5-year term (2020 – 2024) and the 2025 Operation Plan; Report of the Independent Member of the BOD in the Audit Committee in 2024 and the 2025 Operating Plan; Reports of the BOD submitted to the AGM and election of BOD members for term 2025 – 2030, and other important issues.
Reporting at the General Meeting, Mr. Pham Nam Phong shared: With the general context of the economy still facing many difficulties after the Covid-19 pandemic, the consumer price index in the market is unstable, especially the prices of materials such as: Iron, steel, cement, gasoline, etc., bank credit finance is increasingly tightening, the disbursement and payment of outstanding debt capital of the Employer for some of the Company’s construction projects with private capital is still slow, etc. However, with the direction of the BOD, the Executive Board always closely follows the actual situation, balances resources, focuses on acceptance, payment and capital recovery to flexibly and promptly meet the production activities of C47 in each stage, ensuring the progress and quality of construction projects, especially key projects such as: Hoa Binh Hydropower Plant Expansion Project (Hoa Binh province), Nam Phak Hydropower Project (Lao PDR), Kazam Reservoir Project (Lao PDR), etc. and some other projects.
In 2024, the BOD focused on directing the Executive Board and actively participating in bidding. Thereby, C47 and its JV members signed the EPC Contract for Nam Neun 1 Hydropower Project in Lao PDR, with total contract value of 184,999,999 USD (equivalent to 4,500 billion VND). In addition, C47 also signed many contracts to construct domestic projects with capital from the State budget such as: Suoi Cai Reservoir Project (Phu Yen province), worth 121.4 billion VND; Ke Go Reservoir, Bac Ai Pumped Storage Hydropower Project (phase 2) with value of C47’s portion is 164.7 billion and 359.5 billion VND, respectively.
Regarding the business plan and profit distribution in 2025, C47 targets total revenue of VND 1,500 billion, after-tax profit of VND 40 billion, minimum dividend payout ratio of 10%, payment in cash or shares. C47’s core business is still the construction of domestic and international irrigation and hydropower projects. At the same time, C47 also promotes the development of domestic and international hotel, restaurant, and tourism services to increase revenue and profit to ensure the harmony of interests of shareholders, investors and the Company in 2025 and the following years.
In particular, at this AGM, the General Meeting of Shareholders elected the BOD for term 2025 – 2030. Through the election results, the C47’s BOD for term 2025 – 2030 has 07 members, including Mr. Pham Nam Phong, Mr. Le Dong Lam, Mr. Duong Minh Quang, Mr. Nguyen Huu Hai, Mr. Vo Trong Hieu, Mr. Bui Quoc Thanh and Ms. Chu Thi Tu Anh. The new Board of Directors held its first meeting and elected Mr. Pham Nam Phong to assume title as the Chairman of the BOD and Mr. Le Dong Lam to assume title as the Vice Chairman of the BOD (non-executive member) for term 2025 – 2030.
The 2025 AGM of Construction Joint Stock Company 47 ended in joyful atmosphere, demonstrating the consensus and high trust of shareholders, this is the motivation for the BOD and Executive Board of C47 to continue to strive, improve operational efficiency and develop the business sustainably in the coming time.
*/ Please see the Resolution and Minutes of the 2025 AGM: Here
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