Construction Corporation No. 1 – JSC (CC1) recently held its 2026 Annual General Meeting of Shareholders, approving several items related to the business plan, capital increase plan, and restructuring of the Board of Directors for the new term.
According to documents approved at the general meeting, CC1 aims for consolidated net revenue of VND 18,607 billion in 2026, an increase of approximately 571 TP2T compared to the results achieved in 2025. Pre-tax profit is expected to reach VND 492 billion, corresponding to an increase of 821 TP2T.
The company also presented to shareholders a plan to issue shares to pay dividends for 2025. Specifically, CC1 plans to issue nearly 23.7 million shares, equivalent to a ratio of 5% on the total number of outstanding shares. The total value of the issuance at par value is estimated at over 237 billion VND.
The capital for the issuance will come from undistributed after-tax profits as of December 31, 2025, based on the audited consolidated financial statements for 2025. The issuance is expected to take place in 2026, after the company completes all necessary procedures. If completed, CC1's charter capital is projected to increase from approximately VND 4,747 billion to over VND 4,984 billion.
The CC1 Board of Directors also approved a proposal regarding a mechanism to empower the Board of Directors to decide on investment activities and asset sales. According to current laws and CC1's charter, the General Meeting of Shareholders has the authority to decide on investments or sales of assets valued at 35% or more of the total asset value recorded in CC1's most recent financial statement. However, in the current context, investment projects that CC1 has the capacity to participate in often involve very large capital investments and require rapid decision-making to seize bidding and negotiation opportunities. Therefore, to increase proactiveness, the CC1 Board of Directors is proposing to the General Meeting of Shareholders to approve granting the Board of Directors the authority to approve investment activities exceeding the aforementioned asset value threshold.
The General Meeting also elected five members to the Board of Directors for the 2026-2031 term. Three members were re-elected: Mr. Phan Huu Duy Quoc, Mr. Le Bao Anh, and Mr. Nguyen Van Ngoc. Two members did not continue on the Board of Directors: Mr. Nguyen Thanh Vinh and Mr. Tran Huu Phong.
In the new term, the CC1 Board of Directors includes two new members: Mr. Nguyen Thai Phien and Mr. Vo Quoc Khanh.
Mr. Nguyen Thai Phien (born in 1981) holds a Master's degree in Finance and Banking and is currently the General Director of KAS Capital Co., Ltd.
He has experience in the finance and investment sector, having held positions such as Deputy Investment Director at Vingroup (2010-2013), Investment Director at Vietnam-Oman Investment Joint Stock Company (2013-2015), Chief Financial Officer at Novaland, and Deputy General Director of NovaGroup from 2015 to 2022.
Mr. Vo Quoc Khanh (born in 1979) is a Civil Engineer and holds a Master's degree in Business Administration. He previously served as the General Director of Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land) from September 2020 to April 2024, and has been a member of the company's Board of Directors since 2021. Prior to that, he held various management positions in businesses operating in the construction, trade, and real estate sectors.
Immediately after the General Meeting, the CC1 Board of Directors met and unanimously agreed to appoint Mr. Phan Huu Duy Quoc to continue serving as Chairman of the CC1 Board of Directors. Mr. Le Bao Anh continues to serve as Vice Chairman of the Board of Directors and General Director of CC1, and Mr. Nguyen Van Ngoc serves as Vice Chairman of the Board of Directors and Chairman of the CC1 Human Resources, Remuneration, and Benefits Committee. For the remaining members, Mr. Nguyen Thai Phien was appointed as an independent Board Member and Chairman of the CC1 Audit Committee; Mr. Vo Quoc Khanh serves as a Board Member, Chairman of the Strategy and Investment Committee, and a Member of the CC1 Audit Committee.
Here are some more photos from the annual general meeting held on July 30, 2026:
