TCH successfully organized the Annual General Meeting of Shareholders in 2018

(Updated: 19/6/2018)

On 15/06/2018 in Hai Phong, Hoang Huy Investment Financial Services Joint Stock Company (TCH) organized the Annual General Meeting of Shareholders in 2018. There are 82 shareholders attending the meeting, equivalent to 61.7 % of the number of voting shares of the company. At the meeting, the shareholders approved the business results in 2017 and business plan in 2018; paid the dividend in 2017 by cash with the rate of 8.5% and some other content.

General Meeting of Shareholders of TCH takes place at the head office of the Company

Speaking at the opening of the meeting, Chairman Do Huu Ha said that 2017 was a successful year when the company fulfilled all the targets and the prospect from 2018 will be very clear because every aspect of the operation is well prepared, especially the real estate projects of the company are in the implementation process and very effective.

Specifically for each field of operation, Mr. Do Huu Hung – Member of the Board of Directors has presented the shareholder report with details of the operation results in 2017 and the plan for 2018:

  • American International Truck Business:

Continuing the impressive growth of 2016, in 2017, the company continued to deliver satisfactory results when the sales of American International vehicles, parts and services reached its highest level in the last three years.

Specifically, in 2017, revenue from sales of vehicles, parts and services reached over 1,583 billion dongs, an increase of 33.1% compared with 2016.

  • Real estate business in Hai Phong and Hanoi:

At present, the Company is implementing many projects with fast progress, ensuring the quality of works and products. Expected from 2018 and the coming years, revenue and profit from real estate business of TCH will maintain high with good growth.

TCH is currently implementing some big projects such as Gold Tower at 275 Nguyen Trai, Thanh Xuan District, Hanoi with 33 floors, investment capital of 941 billion dongs; Project N1, N2 Le Loi, Ngo Quyen District, Hai Phong with investment capital of 110 billion dongs; Project HH3, HH4 Dong Quoc Binh, Ngo Quyen District, Hai Phong with investment capital of 1,668 billion dongs; Hoang Huy Riverside, No. 1 & 8 Chi Lang, Ngo Quyen District, Hai Phong with 325 semi-detached villas with investment capital of 1,064 billion dongs; Hoang Huy Mall project in Le Chan, Hai Phong with 174 semi-detached houses with investment capital of 604 billion dongs and many other potential projects.

The report of the Executive Committee has reviewed the business results achieved in 2017, accordingly, at the end of 2017, turnover of sales and services of TCH reached 1,840 billion dongs, after-tax profit of 439 billion dongs, completing 105% of the plan.

With these results, the BOD also proposed to pay dividends by cash at a rate of 8.5% (higher than the rate in 2016 of 8%) for shareholders in the coming July - September.

Executive Committee also made and submitted the business plan for 2018 to the General Meeting of Shareholders to approve with the net revenue of 1,950-2,200 billion dongs, after-tax profit of 600-620 billion dongs. This is a high growth rate, an increase of 40% compared to the results achieved in 2017.

During the discussion, the shareholders attending the meeting highly appreciated the success that the Board of Directors, the Executive Committee and the Company's employees have been trying to achieve in 2017, the shareholders also noted the reliability, the prestige in business operating activities of the Company.

In addition, the shareholders also made some questions about the company's business plan as well as its plan to pay dividends in 2018. Mr. Do Huu Ha reaffirmed the Company's after-tax profit plan for the year at a minimum of 600 billion dongs and dividend payout ratio of 2018 would be 10% or more.

Mr. Do Huu Ha, Chairman of the Board answers shareholders' questions.

In addition to the above contents, the meeting also considered and approved the reports on the selection of audit units, the remuneration of the Board of Directors and the Board of Supervisors in 2018, and elected one additional member to the Board of Supervisors for the term of 2015-2019.

Shareholders attending the meeting vote to approve the reports

2018 is a milestone marking the development of the company. Many major plans and projects in all major areas of business, especially in real estate business which is being implemented, promising in the coming period, revenue and profit of TCH will continue to grow well. This is a great step, step by step to create a new level and strength for the brand of "Hoang Huy Group", thereby to increase the benefits for shareholders and to contribute positively for community and society development.

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