A construction business plans to triple its profit in 2022
1369 Construction Joint Stock Company (code C69) has just announced the documents of the 2022 Annual General Meeting of Shareholders. Accordingly, C69 sets a revenue target of 1,600 billion dong this year, up 373% compared to 2021. Profit after tax also tripled to 48 billion dong. The dividend payment rate in 2022 is expected to be 4%-6%, up from 3% in 2021.
In addition, Construction 1369 submitted a plan to increase charter capital through the issuance of a total of 43.8 million shares to pay dividends and offer to existing shareholders. Specifically, the Company will issue 1.8 million shares to pay dividends in 2021 at the rate of 3%. In addition, businesses also plan to offer to existing shareholders 42 million shares at the rate of 70% with the selling price of 10,000 VND/share.
The issuance of charter capital in 2022 is aimed at improving the financial capacity of the Company through principal repayment of bank loans and supplementing working capital. In addition, it also contributes to ensuring the timely supply of capital to implement the projects that the Company has won the contract and won the investor.
At the same time, the additional capital also helps the Company to continue its M&A strategy and maintain its dominance in member companies to meet the capital needs for implementing projects to bring about investment efficiency.
Thus, vThe charter capital of the company will increase from 600 billion dong to 1,038 billion dong if the above two issuances are successfully implemented.
Regarding the investment plan in 2022, the Company plans to continue to focus on core business activities:
+ Real estate segment: The enterprise will implement a number of specific projects as follows: residential real estate, industrial real estate with a number of projects such as the Ca Village Project – Thuan Thanh District – Bac Ninh Province to accelerate construction work. build raw houses (98 units) to be able to open for sale in 2022; investment project on construction and infrastructure business of Luong Dien 2 industrial cluster (Cam Giang district, Hai Duong), project of cultural, sport, education and new residential center in Thai Hoc commune (Binh district). Giang, Hai Duong). In addition, this enterprise will also aim to participate in a number of urban residential projects in Hai Duong, Lam Dong and Son La.
+ Construction segment: TILLIONContinue to expand the search for new construction and installation contracts for 2022. Besides completing a number of construction projects for Housing in Trang Ha Ward (Bac Ninh), Muong Lum Intercommunal Road Project, Yen Chau crosses the stream to Tan Lap, Moc Chau, Son La,…
+ Service area, the company also plans to invest capital in Toan Thang Co., Ltd (Hyundai Hai Duong) to restructure, develop operations and promote the commercial segment in the second quarter with the capital contribution rate of 51%. After making capital contribution, it is expected that Hyundai Hai Duong will contribute ~ VND 900 billion, equivalent to the rate of 51% of Construction Joint Stock Company 1369) to total revenue.
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