Less than 2 years after holding the position of Chairman of Hoa Binh Construction Group, "young master" Le Viet Hieu hastily left the chair

DNHN - The Board of Directors of Hoa Binh Construction Group Joint Stock Company (stock code HBC) has just passed a resolution approving Mr Le Viet Hieu's resignation from the position of General Director on July 23.

Mr Hai once expected this son: "In the country, consider that I have fulfilled my mission of making Hoa Binh a leading company. Now its mission is to make Hoa Binh a famous company that has a name in the world".

However, unfortunately for Mr Hieu, in 2 years as CEO, it was 2 years when the pandemic took place, even though Mr Hieu managed to overcome the difficult period of the pandemic, the results business did not prosper. In 2021, Hoa Binh's revenue increased only 1%, to 11,355 billion dongs; Profit after tax increased by 16%, reaching VND 97 billion, a sharp decrease compared to the years before the epidemic (2017-2019).

In addition to his position on the Board of Directors, Mr Hieu is also a member of the Board of Directors of the Group. He currently owns more than 1.1 million HBC shares, equivalent to 0.46% of capital. Currently, Hoa Binh has not announced a replacement for Mr Hieu as the Group's General Director.

Over the past time, Hoa Binh Construction has continuously experienced personnel changes. Accordingly, the Board of Directors of the Company also approved the dismissal of Mr Dao Vu Nguyen from the position of General Director of Hoa Binh Innovation Center One Member Limited Liability Company from August 1, 2022. Mr Nguyen Duc Dung was elected to hold the position of Acting General Director of this Company in place of Mr Nguyen.

Mr Le Viet Hai, Chairman of the Board of Directors of the Innovation Center is authorized with full authority to consolidate the organizational structure and make decisions on the appointment and dismissal of all positions in the Company to improve production efficiency. business during project implementation.

Regarding stock price, at the beginning of this year, the ticker HBC was around the 8,000 dong mark but then skyrocketed to nearly 35,000 dongs. This also helps the company rise to the leading position in the construction industry in terms of market capitalization on the stock exchange.

Currently, with the general stock market plunging, HBC's stock price is anchored at 19,600 dong/share.

At the 2022 Annual General Meeting of Shareholders, Mr Hieu said that the plan to win contracts for projects this year with a total value of VND 20,000 billion is completely feasible.

In 2022, Hoa Binh Construction Group Joint Stock Company sets a target of 17,500 billion dongs in revenue and 350 billion dongs in after-tax profit, up 54% and 261% respectively compared to 2021.

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