It is expected that nearly 347.2 million HBC shares will be transferred from Ho Chi Minh City Stock Exchange (“HOSE”) to UPCOM, of the Hanoi Stock Exchange (“HNX”).

On July 26^th, 2024, Hoa Binh Construction Group received information from Ho Chi Minh City Stock Exchange (“HOSE”) about the delisting of HBC shares because as of December 31^th, 2023, HBC's total accumulated loss was VND 3,240 billion, exceeding the actual contributed charter capital of VND 2,741 billion. To ensure the trading rights of shareholders, HBC will transfer the listing of nearly 347.2 million shares to the UPCoM of the Hanoi Stock Exchange (“HNX”). This transfer is expected to be completed in August 2024.

During the transfer process and after listing on UPCOM, HBC commits to continue to strictly perform its information disclosure obligations as prescribed, ensuring transparency and protecting the rights of shareholders and investors. We are fully aware of the importance of maintaining a continuous and reliable information channel with the investment community, especially during this transition period.

In the first 6 months of 2024, Hoa Binh has made efforts to overcome and recorded improvements in many financial indicators: revenue reached VND 3,810.82 billion, up 10.1% over the same period in 2023 and profit after tax reached VND 740.91 billion, significantly improved compared to the loss of VND 713.21 billion in the same period last year. We will continue to implement the increase in equity according to the plan reported at the 2024 Annual General Meeting of Shareholders.

We completed the conversion of VND 730.8 billion of debt into 73.08 million shares for 99 suppliers and subcontractors on June 29, 2024, increasing charter capital to VND 3,472 billion, equivalent to an increase of 21.05%. In addition, the Company is actively restructuring comprehensively, including: optimizing the management apparatus, streamlining human resources, improving labor productivity and efficiency of production and business operations.

Regarding business strategy, HBC continues to promote the expansion of domestic and foreign markets. In the United States, we started construction of The Grove Apartments project in California in April 2024. In addition to the potential projects that Hoa Binh is participating in in many countries, Hoa Binh will soon implement the construction of 2 large infrastructure projects in Cambodia in 2024. These steps demonstrate our commitment to diversifying products, markets and seeking new growth opportunities.

In addition to strengthening the D&B general contractor capability, we also improve our capacity for investment, management, operation and execution of social housing projects at home and abroad. In addition, HBC also cooperates with many domestic investors to participate in the implementation of apartment renovation projects, urban areas in many provinces and cities across the country, including: Ho Chi Minh City, Hanoi, Hai Phong, Vinh Phuc, Bac Giang, Quang Nam, Da Nang, Binh Thuan, Dong Nai, ...

We would like to emphasize that the transfer of the trading exchange from HOSE to UPCOM does not affect the basic rights and interests of shareholders. After a period of turmoil, Hoa Binh has gradually improved its financial indicators, with outstanding efforts and the determination to "Restore position", we commit that in the next two years, HBC shares will grow well and are determined to soon re-list and trade on the HOSE.

HBC is always ready to have dialogues with shareholders and investors to clearly explain each content in this press release. At the same time, in the near future, the Board of Directors of Hoa Binh will organize an Analyst Meeting to directly discuss with investors, securities experts and media agencies.

The Board of Directors of Hoa Binh Construction Group is committed to making every effort to overcome the difficult period, gradually recover and develop, ensuring long-term benefits for shareholders, partners and employees. We believe that with the companionship and support of shareholders and partners, along with the efforts of all staff, HBC will overcome the current challenges and continue to affirm its position in the Vietnamese construction industry.

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