{"id":55360,"date":"2025-10-21T23:06:27","date_gmt":"2025-10-21T16:06:27","guid":{"rendered":"https:\/\/www.coteccons.vn\/?p=55360"},"modified":"2025-10-23T13:24:28","modified_gmt":"2025-10-23T06:24:28","slug":"cotecons-2025-annual-general-meeting-vision-2040-balance-is-sustainability","status":"publish","type":"post","link":"https:\/\/www.coteccons.vn\/en\/cotecons-2025-annual-general-meeting-vision-2040-balance-is-sustainability\/","title":{"rendered":"COTECONS 2025 ANNUAL GENERAL MEETING: VISION 2040 \u2013 BALANCE IS SUSTAINABILITY"},"content":{"rendered":"<p><strong><em>On the morning of October 20 at its Ho Chi Minh City headquarters, Coteccons Construction Joint Stock Company (HOSE: CTD) held its 2025 Annual General Meeting of Shareholders. Setting an ambitious revenue target of VND 30,000 billion for 2026 \u2014 the highest in its history \u2014 Coteccons reaffirmed its belief that \u201cwe don\u2019t need to run; we just need to move in the right direction.\u201d<\/em><\/strong><\/p>\n<figure id=\"attachment_55338\" aria-describedby=\"caption-attachment-55338\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55338 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture1.jpg\" alt=\"\" width=\"1379\" height=\"896\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture1.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture1-300x195.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture1-1024x665.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture1-768x499.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55338\" class=\"wp-caption-text\">Coteccons Executive Board at the 2025 Annual General Meeting of Shareholders<\/figcaption><\/figure>\n<p><strong style=\"font-size: 16px;\">COTECCONS\u2019 JOURNEY \u2013 AN OLYMPIC RACE \u201cDESTINED FOR A MEDAL\u201d<\/strong><\/p>\n<figure id=\"attachment_55342\" aria-describedby=\"caption-attachment-55342\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55342 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture2.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture2.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture2-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture2-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture2-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55342\" class=\"wp-caption-text\">Mr. Bolat Duisenov \u2013 Chairman of the Board of Directors of Coteccons delivering the opening speech at the AGM<\/figcaption><\/figure>\n<p><em style=\"font-size: 16px;\">\u201c2025 marks 20+1 years of Coteccons\u2019 presence in Vietnam, and at the same time, it is also a new milestone in the company\u2019s development journey. This is an occasion for us to present the business results for the fiscal year 2025, the plan for the fiscal year 2026, and at the same time share upcoming strategies, especially in human resource development, with the hope of receiving valuable feedback from shareholders and partners. On the occasion of Vietnamese Women\u2019s Day, I would also like to extend my congratulations to all the women present here and to the grandmothers and mothers at home\u201d,<\/em><span style=\"font-size: 16px;\"> Mr. Bolat opened his speech at the 2025 Annual General Meeting of Shareholders.<\/span><\/p>\n<p>The business chart of the past year shows that we are <strong>moving in the right direction.<\/strong><\/p>\n<p>As Coteccons turns <strong>20+1<\/strong>, the company\u2019s goal is to build a <strong>strong next-generation leadership team<\/strong> and reduce reliance on the direct presence of the current management. \u201cI believe that by 2030, the next-generation leadership system will be firmly established, and my personal role will appear less in daily operations,\u201d Mr. Bolat emphasized.<\/p>\n<p>In the <strong>next 20 years (2040)<\/strong>, Coteccons\u2019 vision is described through four concepts:<\/p>\n<p>First, <strong>Coteccons will develop sustainably on the principle of BALANCE<\/strong>. Looking ahead 20 years to 2040, Coteccons will become a company that harmoniously combines two elements that are inherently opposite but complementary to each other: balance between logic and emotion, between growth and sustainability, and between today\u2019s generation and the next.<\/p>\n<figure id=\"attachment_55346\" aria-describedby=\"caption-attachment-55346\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55346 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture3.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture3.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture3-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture3-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture3-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55346\" class=\"wp-caption-text\">Chairman Bolat sharing about the sustainable development philosophy centered around the keyword BALANCE<\/figcaption><\/figure>\n<p><span style=\"font-size: 16px;\">Over the past twenty years, Coteccons has built a solid foundation based on discipline, precision, professionalism, and technical capability. The company has become one of the most reputable brands in the construction industry, yet that image has at times appeared somewhat rigid and technical.<\/span><em style=\"font-size: 16px;\"> \u201cIn the future, we aim for balance \u2014 where engineering and logical structure go hand in hand with creativity, emotion, and passion. Like the left and right hemispheres of the brain, we want Coteccons to be both a well-organized, efficient company and a place that nurtures creativity, education, imagination, and culture\u2026\u201d<\/em><\/p>\n<p>According to Mr. Bolat, logical and technical thinking will be reflected in the B2B aspect, while when reaching the end customers, B2C will be where company elevates emotional value to build a brand that is associated with meaningful experiences. Coteccons aspires to be respected for its capabilities, while also recognized for its human-hearted and emotional values that go beyond concrete and steel.<\/p>\n<p><strong>Second, the company will continue to build diversified, strategic market segments. <\/strong>Coteccons will focus on segments where the company can take a leading position, not only in Vietnam but also internationally.<\/p>\n<p>When expanding abroad, Coteccons will concentrate on its areas of strength, targeting high-demand niches such as semiconductor infrastructure, data centers, stadiums, and airports.<\/p>\n<p>This strategy is similar to competing in the Olympic Games: one cannot win a gold medal in every sport, but by focusing on the core strengths, and select the right game to compete in, it is possible to achieve the best results.<\/p>\n<p>Third, pursuing sustainability and diversification. Coteccons aims for diversity and resilience against both macro and micro fluctuations \u2014 including political shifts, international trade dynamics, and pandemics. The company will continue to pursue diversified sources of revenue, markets, and customer segments.<\/p>\n<p>This diversity helps minimize risks and enhances adaptability in all situations.<\/p>\n<p>\u201cWe have been and will continue diversifying our operations \u2014 not only to mitigate risks but also to harmonize the technical and creative aspects I mentioned earlier. Once our internal strength is consolidated and continuously develops, Coteccons will be ready to face any challenge, no matter how volatile the external environment may be,\u201d the Coteccons Chairman affirmed.<\/p>\n<p><strong>Fourth, becoming the first construction enterprise to put people at the center.<\/strong><\/p>\n<figure id=\"attachment_55350\" aria-describedby=\"caption-attachment-55350\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55350 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture4.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture4.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture4-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture4-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture4-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55350\" class=\"wp-caption-text\">Coteccons aims to become the first \u201chuman-oriented construction company\u201d<\/figcaption><\/figure>\n<p><span style=\"font-size: 16px;\">This is the core principle that Coteccons consistently upholds throughout its development journey. The spirit of \u201c\u0110\u1ed3ng ch\u00ed h\u01b0\u1edbng\u201d (Shared Purpose) connects more than 3,000 engineers, 30,000 subcontractor workers, and thousands of suppliers \u2014 all united by a common goal: to build not only with concrete and steel, but with meaning, safety, and human value.<\/span><\/p>\n<p>Coteccons remains steadfast in pursuing this ideal in the years ahead \u2014 to ensure that everyone in the organization feels inspired by their work and finds happiness along the journey of building.<\/p>\n<p><strong>BRINGING THE \u201cVIETNAMESE CONSTRUCTION DNA\u201d TO THE WORLD<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55294 size-full\" style=\"font-style: inherit; font-weight: 600; text-align: center;\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture5.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture5.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture5-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture5-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture5-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><\/p>\n<p>Mr. Tran Ngoc Hai \u2013 Deputy CEO of Coteccons, Chief Commercial Officer presented the Business Performance ReportIn the 2025 Business Performance Report, Mr. Tr\u1ea7n Ng\u1ecdc H\u1ea3i, Deputy CEO of Coteccons, Commercial Division, announced that 2025 marked another year of compound growth for Coteccons, with a 22% increase, maintained consistently throughout the period 2021\u20132025.<\/p>\n<p>The company recorded revenue of VND 24,885 billion, profit after tax of VND 456 billion, gross profit of VND 815 billion, a profit margin of 3.28%, and a carryover backlog of VND 35,353 billion.<\/p>\n<p>The infrastructure and public investment segment achieved its first fruitful results with four ongoing projects: The APEC Phu Quoc Mega Project and Phu Quoc International Airport serving APEC 2027; Several components at Long Thanh International Airport; Several components at Gia B\u00ecnh International Airport.<\/p>\n<p>Mr. H\u1ea3i emphasized that Coteccons views public investment as a \u201cresponsibility to the nation.\u201d Beyond merely completing projects, the company will continue to participate in major public infrastructure developments that reshape the national landscape \u2014 such as metro systems, expressways, and bridges.<\/p>\n<p>In the international market, Coteccons has completed and handed over the VinFast project in India and is preparing to launch three new projects in Taiwan. This reflects the growing call of global markets for the international expansion plans Coteccons has been steadily advancing over the past two to three years.<\/p>\n<p>\u201cCoteccons continues to expand its international footprint in India, Taiwan, and other promising markets \u2014 realizing our aspiration to bring the \u2018Vietnamese Construction DNA\u2019 to the world,\u201d Mr. H\u1ea3i shared.<\/p>\n<p><strong>REVENUE TARGET: A RECORD 30,000 BILLION VND<\/strong><\/p>\n<figure id=\"attachment_55298\" aria-describedby=\"caption-attachment-55298\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55298 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture6.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture6.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture6-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture6-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture6-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55298\" class=\"wp-caption-text\">Coteccons Sets a Revenue Target of VND 30,000 Billion for Fiscal Year 2026<\/figcaption><\/figure>\n<p><span style=\"font-size: 16px;\">Mr. Hai noted that while the construction market continues to face numerous challenges, it also presents abundant opportunities. Forecasts indicate that FDI inflows in 2025 will increase by 8%\u201310% year-on-year, with 7% of GDP invested in infrastructure and USD 36 billion allocated to public investment.<\/span><\/p>\n<p>For 2026, Coteccons has set an ambitious target of VND 30,000 billion in revenue, with gross profit of VND 1,291 billion, profit after tax of VND 700 billion, newly signed contracts worth VND 31,000 billion, and a customer retention rate of 76%.<\/p>\n<p>Although the VND 30,000 billion target is challenging, Mr. H\u1ea3i emphasized that 2026 will be a pivotal year of opportunity for Coteccons. To realize this goal, he highlighted the critical role of the supply chain, which has always been a distinctive strength of Coteccons.<\/p>\n<p>\u201cCoteccons\u2019 responsibility extends beyond construction sites \u2014 it lies in the value of service and dedication across every link of the system where Coteccons plays the role of general contractor,\u201d Mr. Hai shared.<\/p>\n<p><strong>&#8220;GOOD FENCES MAKE GOOD NEIGHBORS&#8221; WORKS FOR LEADERS WITH SHARED PURPOSE. TO EMPOWER IS TO FOSTER TRANSPARENCY <\/strong><\/p>\n<figure id=\"attachment_55302\" aria-describedby=\"caption-attachment-55302\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55302 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture7.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture7.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture7-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture7-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture7-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55302\" class=\"wp-caption-text\">Coteccons honored at HR Asia Awards 2025 with two prestigious titles<\/figcaption><\/figure>\n<p><strong style=\"font-size: 16px;\">Ms. Nguyen Trinh Thuy Trang, Deputy CEO of Coteccons, Chief Operation Officer, <\/strong><span style=\"font-size: 16px;\">expressed her pride as Coteccons was honored at the HR Asia Awards 2025 with two distinguished accolades: \u201cThe Best Companies to Work for in Asia\u201d, and \u201cThe Most Caring Company.\u201d<\/span><\/p>\n<figure id=\"attachment_55306\" aria-describedby=\"caption-attachment-55306\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55306 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture8-e1761113863537.jpg\" alt=\"\" width=\"1379\" height=\"920\" \/><figcaption id=\"caption-attachment-55306\" class=\"wp-caption-text\">Ms. Nguyen Trinh Thuy Trang \u2013 Deputy CEO of Coteccons, Chief Operation Officer, shared the company\u2019s human capital development strategy<\/figcaption><\/figure>\n<p>Ms. Trang expressed her pride in these recognitions, emphasizing that for Coteccons, \u201cPeople are our greatest asset \u2014 the DNA of Coteccons.\u201d This aligns with the company\u2019s vision of building a Human-Hearted Company, where culture is centered around people.<\/p>\n<p>She noted that Coteccons is not only focused on constructing physical structures but also on building an environment where talent is nurtured and empowered to shine.<\/p>\n<p>To realize this ambition, Coteccons has introduced a new Executive Committee (ExCom) model, consisting of seven key members. Each member holds distinct expertise and defined clear scopes of work aka &#8220;good fences&#8221; to ensure effective delegation and coordination.<\/p>\n<p>Ms. Trang emphasized that Coteccons\u2019 core philosophy in talent management and development is to find people who share the same purpose and empower them. The company\u2019s operations must strike a harmonious balance between democracy and discipline.<\/p>\n<p>\u201cThe ExCom\u2019s mindset is not about consolidating power, but about creating more \u2018successful people\u2019 to empower. Trust must always go hand in hand with transparency so that everyone can grow together,\u201d Ms. Trang shared.<\/p>\n<figure id=\"attachment_55310\" aria-describedby=\"caption-attachment-55310\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55310 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture9.jpg\" alt=\"\" width=\"1379\" height=\"919\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture9.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture9-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture9-1024x682.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture9-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55310\" class=\"wp-caption-text\">Ms. Nguyen Trinh Thuy Trang \u2013 Deputy CEO of Coteccons, Operations Division, shared Coteccons\u2019 vision to become a \u2018human-oriented construction company\u2019<\/figcaption><\/figure>\n<p><span style=\"font-size: 16px;\">\u201cWe create iconic buildings, and through that unwavering commitment, we shape our identity and our future\u201d, Ms. Trang shared a personal perspective that also reflects Coteccons\u2019 broader vision of becoming a \u2018human-oriented construction company\u2019.<\/span><\/p>\n<p><strong>\u201cNO NEED TO RUN, JUST NEED TO MOVE IN THE RIGHT DIRECTION\u201d<\/strong><\/p>\n<p><strong>How did Unicons perform in 2025?<\/strong><\/p>\n<figure id=\"attachment_55314\" aria-describedby=\"caption-attachment-55314\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55314 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture10.jpg\" alt=\"\" width=\"1379\" height=\"919\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture10.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture10-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture10-1024x682.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture10-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55314\" class=\"wp-caption-text\">Mr. Nguyen Chi Thien \u2013 Deputy CEO, shares about Unicons\u2019 development direction<\/figcaption><\/figure>\n<p><strong>Mr. Nguyen Chi Thien, Deputy CEO of Coteccons, <\/strong>said: \u201cCoteccons operates through multiple Business Units (BUs) \u2014 some are performing strongly, while others are facing certain challenges. This structure provides us with balance and resilience.<\/p>\n<p>Unicons\u2019 business performance in 2025 did not fully meet expectations. For 2026, we have reviewed and set directions to sustain what works well while improving and restructuring areas that need enhancement. Unicons has undergone an organizational restructuring, in which I now serve as Chairman of the Members\u2019 Council.<\/p>\n<p>We are reigniting our spirit to pursue greater goals and bring Unicons back to the race \u2014 as I often say, \u201cMake Unicons great again\u201d.<\/p>\n<p><strong>According to Coteccons\u2019 \u201cGo Global\u201d strategy, how has the company expanded into international markets through joint ventures and\/or M&amp;A since last year? Which specific markets is the company currently focusing on, and what are the latest developments?<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55318 size-full\" style=\"font-style: inherit; font-weight: 600; text-align: center;\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture11.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture11.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture11-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture11-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture11-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><\/p>\n<p>Mr. Bolat Duisenov, Chairman of the Board of Directors, during the Q&amp;A session at the General Meeting<strong>Mr. Bolat Duisenov, Chairman of the Board of Directors: <\/strong>\u201cFrom a strategic standpoint, Coteccons is focusing on the markets of Hong Kong, the Middle East, and Taiwan. We will also not overlook other promising markets such as India and Kazakhstan. It is important to emphasize that when exploring markets like the Middle East or Taiwan, we strictly comply with local regulations \u2014 the approval process alone can take 15 to 18 months for each license. Therefore, as a general contractor, Coteccons\u2019 path to global expansion has no shortcuts \u2014 we choose to walk instead of rushing to fly. We don\u2019t need to run; we just need to go in the right direction\u201d.<\/p>\n<p><strong>Regarding the new ExCom model \u2014 from one CEO to now seven \u2014 does that mean the CEO\u2019s salary is divided by seven or multiplied by seven?<\/strong><\/p>\n<figure id=\"attachment_55357\" aria-describedby=\"caption-attachment-55357\" style=\"width: 2161px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55357 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture12-1.jpg\" alt=\"\" width=\"2161\" height=\"1440\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture12-1.jpg 2161w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture12-1-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture12-1-1024x682.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture12-1-768x512.jpg 768w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture12-1-1536x1024.jpg 1536w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture12-1-2048x1365.jpg 2048w\" sizes=\"(max-width: 2161px) 100vw, 2161px\" \/><figcaption id=\"caption-attachment-55357\" class=\"wp-caption-text\">Coteccons\u2019 Executive Board shared their perspectives during the Q&amp;A session at the General Meeting<\/figcaption><\/figure>\n<p><strong style=\"font-size: 16px;\">Mr. Vo Hoang Lam, Deputy CEO: <\/strong><span style=\"font-size: 16px;\">\u201cCoteccons\u2019 strategic goal is long-term \u2014 focusing on diversifying our customers, markets, and products. With an empowerment-based operating model, every leader is entrusted to fully leverage their expertise \u2014 what we call the ExCom model. This model has been implemented for a year, and its effectiveness is clearly reflected in our reported figures.\u201d<\/span><\/p>\n<p><strong>Mr. Bolat Duisenov, Chairman of the Board: <\/strong>\u201cWhen we introduced the ExCom model, our intention was neither to divide nor to multiply the CEO\u2019s role. The point isn\u2019t to cut the cake into seven pieces \u2014 the goal is to make the cake seven times bigger. That\u2019s how we gradually expand, elevate, and multiply value to generate greater profit for the company.\u201d<\/p>\n<p><strong>Mr. Tran Ngoc Hai, Deputy CEO, Commercial Division: <\/strong>\u201cCompared to a single-engine system, a seven-engine system is much stronger and faster. If one engine slows down, the remaining six can help stabilize performance, ensuring sustainable growth \u2014 so that our services reach clients faster and more efficiently.\u201d<\/p>\n<p><strong>Mr. Nguyen Chi Thien, Deputy CEO: <\/strong>\u201cSeven people are not to divide the work \u2014 but to accelerate.\u201d<\/p>\n<p><strong>VND 51 TRILLION BACKLOG: A JOY, BUT ALSO AN ALARM CLOCK<\/strong><\/p>\n<p><strong>Coteccons\u2019 current backlog has reached its highest level in years \u2014 does that make this year\u2019s revenue target too easy to achieve?<\/strong><\/p>\n<figure id=\"attachment_55326\" aria-describedby=\"caption-attachment-55326\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55326 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture13.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture13.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture13-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture13-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture13-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55326\" class=\"wp-caption-text\">Mr. Tran Ngoc Hai, Deputy CEO, shared during the Q&amp;A session at the General Meeting<\/figcaption><\/figure>\n<p><strong style=\"font-size: 16px;\">Mr. Tran Ngoc Hai, Deputy CEO, Commercial Division: <\/strong><span style=\"font-size: 16px;\">\u201cA large backlog is certainly a positive sign, contributing to the company\u2019s operational stability for the next few years. However, for us, it also serves as a \u2018daily alarm clock.\u2019 Honestly, the VND 51 trillion backlog figure still gives me chills \u2014 but Coteccons already has a clear plan to transform this backlog into revenue, profit, and quality. For us, growth isn\u2019t just about numbers \u2014 it\u2019s about sustainability and efficiency.\u201d<\/span><\/p>\n<p><strong>What is the business structure of Coteccons\u2019 key segments \u2014 including infrastructure, industrial parks, and public investment \u2014 in 2026? What are the projected gross and net profit margins for 2026? What are the plans for provisioning and reversal of provisions in 2026?<\/strong><\/p>\n<p><strong>Mr. Tran Ngoc Hai, Deputy CEO, Commercial Division: <\/strong>\u201cOur target for 2026 is a gross profit of VND 1,291 billion, with revenue expected to grow by over 20%. This is a challenge given fluctuations in input costs in the construction market, along with labor and material price volatility. For every project we undertake, we aim to avoid prolonged timelines that could impact costs and profitability.<\/p>\n<p>This year, we are not making additional provisions. Instead, we plan to review and address outstanding bad debts from previous years. The pace of resolution will depend on the progress of each project and the payment capability of clients.\u201d<\/p>\n<p><strong>What are Coteccons\u2019 concrete plans for entering the Cambodian market, particularly regarding transparency and legal safety amid the country\u2019s ongoing instability?<\/strong><\/p>\n<figure id=\"attachment_55330\" aria-describedby=\"caption-attachment-55330\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55330 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture14.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture14.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture14-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture14-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture14-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55330\" class=\"wp-caption-text\">Mr. Vo Hoang Lam \u2013 Deputy CEO, sharing during the Q&amp;A session at the AGM<\/figcaption><\/figure>\n<p><strong>Mr. V\u00f5 Ho\u00e0ng L\u00e2m, Deputy CEO: <\/strong>\u201cThe situation in Cambodia also reflects the overall context we face under Coteccons\u2019 Go Global strategy when entering any foreign market. We always evaluate multiple aspects to ensure that project operations meet Coteccons\u2019 standards. Go Global is a long-term journey where our goal is not only profit but also brand development. Regarding potential risks, Coteccons\u2019 Supervisory Board and ExCom carefully analyze strategies to ensure that every step we take is solid, protecting the rights and interests of the company and our shareholders.\u201d<\/p>\n<p><strong>GOLD PRICES RISE, THE COTECCONS FUND SHOULD RISE TOO<\/strong><\/p>\n<p><strong>With gold prices soaring and Coteccons holding a significant amount of cash reserves, how will the company consider reallocating assets to increase profitability?<\/strong><\/p>\n<p><strong>Mr. Bolat Duisenov, Chairman of the Board:<\/strong> \u201cI closely monitor gold price movements \u2014 even studying extraction costs to understand the reasons behind such sharp increases. Interestingly, current mining costs are even lower than in 2000, yet prices have skyrocketed. This shows that gold prices no longer purely reflect supply and demand but rather mirror global macroeconomic uncertainty.<\/p>\n<p>Whenever the market fluctuates, we see it as an opportunity to review our financial strategy. Our experienced finance team monitors the market closely to ensure that our cash is used in the most effective way possible.<\/p>\n<p>I often joke \u2014 though it\u2019s also a serious target \u2014 that as gold prices go up, Coteccons\u2019 fund should go up too.<strong>\u201d<\/strong><\/p>\n<p><strong>In the next 3\u20135 years, how will Coteccons\u2019 revenue structure evolve under its diversification strategy? What are the key business sectors Coteccons aims to focus on?<\/strong><\/p>\n<p><strong>Mr. Bolat Duisenov, Chairman of the Board: <\/strong>\u201cIn the past, Coteccons was mainly associated with civil construction projects, but today we\u2019ve expanded into infrastructure. This year, our infrastructure revenue reached around VND 500 billion and will continue contributing more in the coming years. This figure reinforces our belief that diversification is essential for our long-term survival. Importantly, diversification isn\u2019t just about profit margins \u2014 it\u2019s about sustainability and risk mitigation.\u201d<\/p>\n<p><strong>Mr. V\u00f5 Ho\u00e0ng L\u00e2m, Deputy CEO: <\/strong>\u201cDiversification is not about following trends; it\u2019s a deliberate, sustainable strategy. Coteccons\u2019 goal is not only to build physical structures but also to contribute value to the market and to society.\u201d<\/p>\n<p><strong>After a period of slowdown in the real estate market, many workers shifted to other industries. Now that the project pipeline is recovering, labor shortages have emerged. Could Coteccons share details on its permanent and seasonal workforce, as well as how this impacts operating costs in the near future?<\/strong><\/p>\n<p><strong>Mr. Nguyen Chi Thien, Deputy CEO:<\/strong> \u201cAfter the market recovered, workload across the country has increased. To retain workers, Coteccons takes care of not only its own employees but also subcontractor workers. We organize meaningful programs such as health checks, scholarships for workers\u2019 children, and welfare support. At the same time, we strive to create a work environment that feels like a second home \u2014 where people feel safe and valued, true to our motto: \u2018Work safely, go home happily.\u2019\u201d<\/p>\n<p><strong>COTECCONS HAS NO \u201cSUPERSTARS\u201d , ONLY \u201c\u0110\u1ed2NG CH\u00cd H\u01af\u1edaNG\u201d<\/strong><\/p>\n<p><strong>With a backlog of over VND 50,000 billion, how is Coteccons\u2019 project structure composed? How does it differ from the 2024 revenue mix?<\/strong><\/p>\n<p><strong>Mr. Tran Ngoc Hai, Deputy CEO, Commercial Division: <\/strong>\u201cCoteccons\u2019 current backlog primarily comes from industrial (FDI) projects, infrastructure, and high-end civil works. The share of infrastructure has increased significantly compared to the 2024 structure. This provides a strong foundation for sustainable growth over the next 3\u20135 years.\u201d<\/p>\n<p><strong>Mr. Bolat Duisenov, Chairman of the Board: <\/strong>\u201cWe want to emphasize that both revenue and stock price are not instant coffee. Our strategy is long-term \u2014 focused on ensuring many \u2018harvest seasons\u2019 ahead. Expanding into infrastructure and diversification isn\u2019t just about making money; it\u2019s also about strengthening our people and organizational capabilities.<\/p>\n<p>We\u2019ve already achieved several \u2018firsts,\u2019 such as the LEGO factory project and multiple airport developments. With every bridge we build, we believe we are also building our own future.\u201d<\/p>\n<p><strong>Coteccons does not glorify \u201csuperstars.\u201d So how do truly talented individuals feel recognized and appreciated for their abilities?<\/strong><\/p>\n<figure id=\"attachment_55334\" aria-describedby=\"caption-attachment-55334\" style=\"width: 1379px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55334 size-full\" src=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture15.jpg\" alt=\"\" width=\"1379\" height=\"920\" srcset=\"https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture15.jpg 1379w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture15-300x200.jpg 300w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture15-1024x683.jpg 1024w, https:\/\/www.coteccons.vn\/wp-content\/uploads\/2025\/10\/Picture15-768x512.jpg 768w\" sizes=\"(max-width: 1379px) 100vw, 1379px\" \/><figcaption id=\"caption-attachment-55334\" class=\"wp-caption-text\">Ms. Nguyen Thi Thanh Huong \u2013 Human Resource Director stated: \u201cCoteccons has no superstars, only \u0110\u1ed2NG CH\u00cd H\u01af\u1edaNG\u201d<\/figcaption><\/figure>\n<p><strong>Ms. Nguyen Thi Thanh Huong, Human Resource Director: <\/strong>\u201cThe nature of construction is that it\u2019s always the result of collective effort. No project can be completed by a single site manager alone. In a team, if you are a \u2018superstar,\u2019 your responsibility is to lead, to guide, and to build your successors \u2014 that is the true mission of those considered superstars. Coteccons is not a stage for a team of superstars, but a stage for a team of \u0110\u1ed2NG CH\u00cd H\u01af\u1edaNG.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the morning of October 20 at its Ho Chi Minh City headquarters, Coteccons Construction Joint Stock Company (HOSE: CTD) held its 2025 Annual General Meeting of Shareholders. Setting an ambitious revenue target of VND 30,000 billion for 2026 \u2014 the highest in its history \u2014 Coteccons reaffirmed its belief that \u201cwe don\u2019t need to [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":55338,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[626,630,634],"tags":[],"class_list":["post-55360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","category-coteccons-next-gen","category-insight"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - 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