The online event, held on 26 June, saw investors approve all management proposals, including a three-pronged restructuring of operations, debt and human resources. Hoa Binh recorded a difficult 2025, marked by project delays, rising material costs and squeezed margins across the sector.

Rather than chasing revenue targets, the board opted to shrink its pipeline, renegotiate supplier contracts and divest non-core assets to shore up its balance sheet.

The group’s total assets at the end of the year were recorded at VND16.1 trillion ($619.23 million), an increase of 4.48 per cent compared to 2024, with equity reaching VND1.96 trillion ($75.38 million). Regarding business performance, net revenue in 2025 reached VND4.62 trillion ($177.69 million), equivalent to 51.34 per cent of the target plan.

This result reflects the objective market challenges as well as the group’s prudence in project selection, risk control, and prioritisation of restructuring objectives to ensure long-term sustainable development. Moving into 2026, the group targets total revenue of VND10 trillion ($384.62 million) and a net profit of VND250 billion ($9.62 million).

One of the key agenda items approved by the 2026 AGM was the plan to issue shares for debt swaps. Accordingly, the group will issue over 51 million shares to swap debts with a total value of more than VND514 billion ($19.77 million). This solution aims to help reduce liability pressure, improve the capital structure, and strengthen long-term financial capacity. Behind the decision to participate in the debt swap is the trust of partners who have accompanied Hoa Binh through many years.

They are entities that have built hundreds of projects alongside Hoa Binh, sharing both successes and difficult times. Such companionship transcends the value of contracts or projects, evolving into a relationship nurtured by trust and a mutual desire to create sustainable values.

Regarding the HBC stock price, the Board of Directors believes that the 2025 profit results do not fully reflect the true value. However, with relentless efforts in management and strategy execution – especially the expansion into international markets – Hoa Binh is gradually regaining its proper standing and bringing its stock price to its rightful value.

Overall, the 2026 strategy aims to strike a balance between growth and efficiency, step-by-step enhancing operational quality and laying a solid foundation for medium and long-term sustainable development. Hoa Binh is concentrating resources on core growth levers across three main pillars: enhancing cash flow, improving profit margins, and consolidating core competencies.

As part of its long-term strategy, Hoa Binh has officially established Hoa Binh Invest Holding as a strategic legal entity to directly hold, operate, and manage various sectors such as technology, education, and finance, providing robust support to the group.

Speaking at the meeting, Le Viet Hai, chairman of the Board of Directors of Hoa Binh Construction Group, said, "Hoa Binh has passed through the most difficult period without losing its core capacities and values. Gold is tested by fire, and hardship is tested by strength – Hoa Binh has undergone another trial to prove its resilience and has been tempered into an even more solid collective."

Le Viet Hai, chairman of the Board of Directors of Hoa Binh Construction Group

On the same day, Hoa Binh was recognised for its environmental, social and governance (ESG) efforts, earning a place in the Top 10 ESG Vietnam. Hoa Binh defines ESG not merely as compliance standards, but as a foundational value and a 'passport' for the enterprise to step confidently into the international market.

Building on these positive signals, Hoa Binh has been appointed as general contractor for construction, mechanical and electrical (M&E), and fire protection systems at the mixed-use apartment project in Dam Lieng Area, Hoang Mai ward, Hanoi, developed by Tan A Dai Thanh Development Investment JSC. The developer had previously selected Hoa Binh as general contractor for the Galia project in Hanoi and Meypearl Harmony in Phu Quoc. Hoa Binh is currently executing all three projects to meet the agreed timelines.

At the same time, Hoa Binh continues to win bids for M&E construction packages, technical infrastructure for the construction, and the northern scope of the project within the Thanh Phu residential and commercial services area, the Viet Tien LB headquarters project in Hanoi, and H55 in Quang Ninh province. The total value of these packages reaches nearly VND1.5 trillion ($57.69 million).

As a result, in the first half of 2026, Hoa Binh won several new contract packages, affirming its reputation and general contracting capabilities in the market. With a solid foundation, Hoa Binh is step-by-step expanding development opportunities, increasing its presence in key markets, and continuing its journey to create quality projects for the community.