On April 24, at the 2025 Annual General Meeting of Shareholders (AGM) held at NovaWorld Phan Thiet (Binh Thuan), Mr. Bui Thanh Nhon, Chairman of the Board of Directors of No Va Real Estate Investment Group Joint Stock Company (Novaland), emphasized that 2025 will be a key time for Novaland to consolidate its foundation and prepare for a new growth phase.

Novaland has proposed two business scenarios. In the positive scenario, revenue reaches VND13,411 billion, with a loss after tax of VND12 billion. The lower scenario targets revenue of VND10,453 billion, with a loss after tax of VND688 billion. Both scenarios do not pay dividends for 2024, instead retaining more than VND13,281 billion in undistributed profits to serve the recovery plan.

Novaland aims to hand over 1,546 products in 2025, focusing on the fourth quarter when legal problems have been partially resolved. At the same time, the group also plans to issue nearly 7,000 pink books to residents this year, showing its determination to thoroughly handle legal backlogs.

Mr. Bui Thanh Nhon, Chairman of the Board of Directors of No Va Real Estate Investment Group Corporation (Novaland)

Regarding capital mobilization, Novaland has approved the cancellation of the plan to issue 1.17 billion shares to existing shareholders, replacing it with a maximum issuance of 550 million individual shares to no more than 20 professional investors, with an expected offering price of VND10,000/share. In addition, the company also continues to restructure the international convertible bond package listed in Singapore, this plan has been approved by shareholders.

The congress also witnessed changes in the leadership: Mr. Ng Teck Yow and Ms. Nguyen My Hanh withdrew from the Board of Directors, two new personnel, Mr. Duong Van Bac and Mr. Doan Minh Truong, were elected. Novaland also plans to issue 97.5 million ESOP shares to employees in 2025.

In particular, Chairman Bui Thanh Nhon said that the group is seeking approval to convert nearly 60 hectares of land in Ho Chi Minh City into social housing and middle-income housing projects, including Phu Dinh Port (District 8) and Quan Tre Area (District 12). This is a new strategy, aiming for stability and sustainability rather than short-term profits.

Mr. Nhon affirmed: “We are not restructuring just to survive, but to break through. Novaland will go hand in hand with the country’s double-digit growth momentum, raising its position on the regional map. We choose the ‘three harmonies’ strategy – benefits for the business, customers and the country.”

Source: https://nld.com.vn/ong-bui-thanh-nhon-tap-doan-len-ke-hoach-cap-gan-7000-so-hong-cho-cu-dan-trong-nam-nay-196250424145330323.htm