Vingroup approves 2024 business plan, to list Vinpearl on market

At the General Meeting of Shareholders held in Hanoi on April 25, Vingroup received approval for its ambitious 2024 business plan.

 At the meeting (Photo: VNA)

At the General Meeting of Shareholders held in Hanoi on April 25, Vingroup received approval for its ambitious 2024 business plan.

The company aims to achieve a remarkable revenue milestone of 200 trillion VND, marking a significant 23.7% increase compared to 2023.

Additionally, Vingroup targets a profit after tax of 4.5 trillion VND, representing an impressive 119% growth.

In 2023, Vingroup demonstrated strong performance, with net revenue reaching 161.4 trillion VND, a substantial 59% rise from the previous year. The profit after tax amounted to 2.05 trillion VND, maintaining the same level as in 2022. These figures surpassed the targets set at the 2023 Annual General Meeting of Shareholders, reaching 85% and 103%, respectively.

Nguyen Viet Quang, Vice Chairman of the Board of Directors and General Firector of Vingroup, highlighted the success of VinFast in the technology and industry sector. VinFast's listing on the US Nasdaq Stock LLC stock exchange served as an inspiration for Vietnamese businesses.

In the trade and service sector, Vinhomes made significant progress in 2023. The company successfully handed over nearly 29,000 apartments, villas, and commercial townhouses at Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3. The occupancy rate in the real estate rental segment reached 84.8%, showing improvement compared to the previous year.

Looking ahead to 2024, VinFast plans to expand its distribution channels globally, leveraging local networks and agent expertise. The goal is to establish approximately 400 sales points by the end of the year. Moreover, VinFast aims to enter the US market with new models and export commence cars to Europe, while also initiating distribution in Indonesia.

In the residential real estate sector, Vinhomes will focus on enhancing its online business system to improve the purchasing experience, transparency of policies and product pricing, in preparation for the upcoming growth cycle in the market.

Regarding the listing of its subsidiaries, Chairman Pham Nhat Vuong revealed that Vingroup is currently undertaking procedures to list Vinpearl Company on the Vietnam stock exchange, with hopes of achieving a successful listing by the end of the year./.

VNA