Recently, on June 15, 2025, in Binh Tuong commune, Tay Son district, Binh Dinh province, Van Phong Hydropower Joint Stock Company (VHP), a subsidiary of Construction Joint Stock Company 47 (HOSE: C47), held successful Annual General Meeting of Shareholders (AGM) for 2025.
Attending the Meeting, there were 37 delegates who owned and were authorized to represent 9,670,500 voting shares, accounting for 86.34% of total voting shares.
At the AGM, shareholders listened to the report on the operation of the Board of Directors (BOD), the Report on production and business results, the Report of the Supervisory Board in 2024 and the Operation plan for 2025, important contents to be submitted to the General Meeting of Shareholders.
According to the Report, in 2024, although there are still many difficulties due to weather changes affecting the amount of water for power generation. However, with the drastic and timely direction of the BOD and the Executive Board, as well as VHP’s flexible and appropriate operating policies, the power generation plan has been ensured. As a result, VHP’s commercial electricity output in 2024 was recorded at 16,061,442 kWh, reaching 107.55% and total revenue before lease was higher VND 19 billion, reaching 113.29% compared to the plan assigned by the AGM 2024. Van Phong Hydropower Plant uses bulb-type turbine technology, which can generate electricity with a low water column. The outstanding advantage of low water column hydropower is that it is environmentally friendly, makes the most of hydropower, with an installed capacity of 6.0MW, Van Phong Hydropower Plant will contribute to supplying about 22.778 million kWh of electricity annually to the national grid.
After listening to the reports, the shareholders discussed and contributed their opinions.
Recorded at the AGM, with high consensus and unity (100% rate), the AGM approved important contents such as: Production and business plan in 2025 with main targets such as commercial electricity output of 18,102,998 kWh and electricity sales revenue of 17,106,615,825 VND, total revenue of 20,021,236,900 VND.
During the meeting, the AGM approved the dismissal of Mr. Vo Thanh Quynh – Member of the BOD for term 2023-2026, taking a leave of absence according to personal wishes, and at the same time electing a new member of the BOD to ensure the succession and executive capacity of the company’s leadership. The election took place openly, transparently and received a high consensus from shareholders. According to the election results, with high confidence (100%), Mr. Nguyen Thanh Hai was elected to the BOD of VHP for term 2023 – 2026.
The AGM took place in a transparent, democratic and effective atmosphere, demonstrating a high consensus between the BOD and shareholders in VHP’s development strategy. The successful organization of the AGM is an important premise to help VHP continue to affirm its position in the field of clean energy and make a positive contribution to the development of C47.
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