The Annual General Meeting of Shareholders in 2022

On May 25th, 2022, Phan Vu Investment Corporation successfully held the Annual General Meeting of Shareholders at Phan Vu Head office, A2 Truong Son, Ward 2, Tan Binh District, HCM City. The General Meeting approved the reports in 2021 and plans in 2022.

Chairman of the meeting (from left to right): Mr. Nguyen Duc Dung - Member of the Board of Directors, Mr. Phan Khac Long - Chairman of the Board of Directors, Chairman, Mr. Tran Vu Anh Tuan - Deputy General Director

Due to the pandemic, three members of the Board of Directors including Mr. Akira Kurose, Mr. Yoshihito Yamamoto, Mr. Kazunori Okuyama authorized Mr. Phan Khac Long to execute the rights of members of the Board of Directors as well as shareholder rights of Asia Pile Holdings. The General Meeting voted 100% unanimously to approve the Presidium of the General Meeting including: Mr. Phan Khac Long - Chairman of the Board of Directors, Chairman of the General Meeting; Mr. Nguyen Duc Dung - Member of the Board of Directors; Mr. Tran Vu Anh Tuan - Deputy General Director.

According to the report in 2021, the market had many fluctuations and challenges due to the impact of the Covid-19 pandemic, notably the real estate construction for industrial zones and residential construction all decreased significantly (more than 50%), while the high price of materials affected the Group's business results. Faced with these challenges, the Board of Directors has come up with production and business solutions suitable to each market fluctuation, well implemented the policy of safe and effective business. Accordingly, the consolidated sales targets (reaching 107%) and revenue (92%) have been basically completed according to the set plan. In which, the most outstanding result is that Phan Vu has occupied up to 80% of the market share of concrete piles for the turbine pillar foundation of wind power plant projects.

Continuing to report to the General Meeting, Mr. Phan Khac Long presented the directions, tasks and activities in 2022 of the Board of Directors. According to the assessment, 2022 has gradually stabilized in the "new normal" state, but it will still be a year with many difficulties and challenges when the broken supply chain has not been fully restored, material prices increased. But after the rain, the sun will shine again, the Covid-19 pandemic has gradually stabilized, other countries are starting to open up, the supply chain is being restored and the real estate market is showing strong signs of recovery despite difficulties and especially renewable energy projects are expected to continue to explode in 2022. This is the basis for Phan Vu to set a target for production and business activities in 2022 with a sales target of VND 5,400 billion (up 20% compared to 2021) and Revenue is VND 4,400 billion (up 15% compared to 2022).

The General Meeting also voted to approve other Documents with high consensus such as: Financial statements for 2021 audited by Ernst & Young Vietnam Co., Ltd; Proposal of profit distribution plan from production and business results in 2021; Report on production and business orientation in 2022; Statement of operating budget and remuneration of the Board of Directors and Supervisory Board in 2021 and operating budget in 2022; Proposal on authorization to select an audit unit for the fiscal year 2022: Authorization letter for the Board of Directors to decide on additional business lines; Application for approval of the decision to appoint the General Director cum Chairman of the Board of Directors.

The General Meeting of Shareholders of Phan Vu Corporation voted to approve the Minutes and draft Resolution of the General Meeting of Shareholders, reaching 100% consensus. The 2022 Annual General Meeting of Shareholders of Phan Vu Investment Corporation ended at 11:30 am on the same day after the closing statement of the Chairman.

Phan Vu Investment Corporation

Address: No. A2, Truong Son Street, Tan Binh District, HCMC, Vietnam

Email: - Phone: +84 (028) 22200884-6 - Fax: +84(028) 22200887

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