Vietnamese property major Hoang Huy’s subsidiary plans new share issuance before HoSE listing

By Huu Bat, Minh Hue
Mon, July 7, 2025 | 2:29 pm GMT+7

CRV Real Estate Group JSC, a member of Vietnam's major property developer Hoang Huy Group, has approved a plan to issue an additional 16.81 million shares to existing shareholders at a 40:1 ratio and the price of VND26,000 ($1) per share.

An overview of the Hoang Huy New City-II project in Hai Phong city, northern Vietnam, in May 2025. Photo courtesy of Haiphong Highlights.

An overview of the Hoang Huy New City-II project in Hai Phong city, northern Vietnam, in May 2025. Photo courtesy of Haiphong Highlights.

The public offering is expected to take place in 2025, once the company receives a registration certificate from the State Securities Commission, according to the plan, which was approved at CRV’s 2025 AGM held on Friday.

All proceeds will be used to invest in the 50-hectare Hoang Huy New City-II urban area in Thuy Nguyen district, the northern port city of Hai Phong. This is the company’s key project with a total investment of over VND15 trillion ($573.78 million).

On June 24, Hai Phong's Department of Construction confirmed that 543 future-formed commercial houses (low-rise residential units) within the Hoang Huy New City-II project met the conditions for sale. This represents a significant supply for the vibrant Thuy Nguyen and Hai Phong real estate markets.

Real estate is CRV’s core business sector. In addition to Hoang Huy New City-II, the company has launched several projects in Hai Phong since 2022, including Hoang Huy Commerce-H1 Tower (with an investment of over VND3.7 trillion or $141.52 million) and Hoang Huy-So Dau (VND1.49 trillion or $56.99 million).

In 2024 alone, the real estate segment generated VND841.7 billion ($32.2 million), accounting for 94% of the company’s gross profit. Consequently, CRV posted revenue of VND2.2 trillion ($84.14 million) and post-tax profit of VND462 billion ($17.67 million), exceeding the year’s targets by 15.5% and 12.8%, respectively.

Real estate will remain the firm’s strategic focus in 2025, driven by large-scale investment projects. Its board of directors stated that over the next 3-5 years, as more projects are completed and handed over, the company’s profitability will be maintained.

For the fiscal year 2025 (April 1, 2025 - March 31, 2026), shareholders at the AGM approved a target of VND4 trillion ($153 million) in sales revenue, up 82% year-on-year; and a post-tax profit of VND1.6 trillion ($61.2 million), 3.46 times higher than 2024.

The planned dividend payout ratio for 2025 is 20%. Business performance is expected to remain strong in 2026, with projected revenue of VND5 trillion and post-tax profit of VND2 trillion.

At the AGM, CRV also approved the proposal on listing its shares on the Ho Chi Minh Stock Exchange (HoSE). Earlier, on June 14, 2024, the company submitted its listing application to the HoSE. By June 20, 2024, the exchange issued a notice confirming receipt of the application, which is currently under review.

CRV is the core legal entity within the Hoang Huy Group ecosystem. In this structure, Hoang Huy Investment Services JSC (HoSE: HHS) owns 51% of CRV, while Hoang Huy Financial Services Investment JSC (HoSE: TCH) is the parent company holding a 51% stake in HHS.

Analysts expect that HHS’s increased ownership and status as CRV’s parent company will yield significant benefits, given CRV’s forecast strong and stable growth.

Furthermore, completing the parent-subsidiary holding structure will help Hoang Huy Group optimize operations, reduce costs, and create balanced value for shareholders across all member companies.

Comments (0)
  • Read More
Vietnam, Russia eye setting up joint venture for maritime transport route

Vietnam, Russia eye setting up joint venture for maritime transport route

Vietnam and Russia are studying establishing a joint venture operator of a maritime transport route, underscoring their shared commitment to deepening cooperation in shipbuilding, logistics, and maritime infrastructure.

Companies - Thu, September 18, 2025 | 9:31 pm GMT+7

Coteccons consortium wins Long Thanh Airport contract worth $128 mln

Coteccons consortium wins Long Thanh Airport contract worth $128 mln

HANTA2, a consortium of Coteccons Construction JSC, Hanoi Construction Corporation – JSC and ATAD Steel Structure Corporation, has won the bid for a construction package worth VND3.38 trillion ($128 million) at Long Thanh International Airport.

Companies - Thu, September 18, 2025 | 9:22 pm GMT+7

Vietnam PM orders full disbursement of public investment in 2025

Vietnam PM orders full disbursement of public investment in 2025

Prime Minister Pham Minh Chinh has requested ministries, central agencies, and localities to ensure 100% disbursement of public investment capital in 2025.

Companies - Thu, September 18, 2025 | 9:18 pm GMT+7

EU, Indonesia to sign trade deal next week

EU, Indonesia to sign trade deal next week

The European Union and Indonesia have finalized a trade agreement that is expected to be signed on September 23.

Southeast Asia - Thu, September 18, 2025 | 9:06 pm GMT+7

The first project at VSIP Can Tho industrial park licensed

The first project at VSIP Can Tho industrial park licensed

Can Tho city's export processing and industrial zones authorities have granted an investment registration certificate for the $100 million Bestway Can Tho sports technology plant project in Vinh Trinh commune.

Industries - Thu, September 18, 2025 | 9:04 pm GMT+7

Lego Manufacturing Vietnam signs direct power purchase agreement with VSIP

Lego Manufacturing Vietnam signs direct power purchase agreement with VSIP

Lego Manufacturing Vietnam has signed a Direct Power Purchase Agreement (DPPA) with Vietnam-Singapore Industrial Park (VSIP) as part of the company's ambition to operate its new factory, which opened in April 2025, on 100% renewable energy.

Industries - Thu, September 18, 2025 | 4:07 pm GMT+7

Con Vanh golf course in northern Vietnam to debut in 2028

Con Vanh golf course in northern Vietnam to debut in 2028

Huy Hoang Urban Development and Investment JSC aims to put its VND2,156 billion ($81.75 million) Con Vanh golf course project in Hung Yen province into operation in early 2028.

Real Estate - Thu, September 18, 2025 | 3:21 pm GMT+7

No new grade B office supply in HCMC’s CBD until 2028: Knight Frank

No new grade B office supply in HCMC’s CBD until 2028: Knight Frank

No new Grade B office supply is entering Ho Chi Minh City's central business district (CBD), marking a significant shift in the market as developers are forced to build affordable office space further afield, said Knight Frank Vietnam.

Real Estate - Thu, September 18, 2025 | 1:42 pm GMT+7

What are expectations for Vietnam's stock market from Fed rate cut?

What are expectations for Vietnam's stock market from Fed rate cut?

The Federal Reserve's interest rate cut is expected to support Vietnam's effort to have its stock market status upgraded by FTSE Russell from "frontier" to "secondary emerging" and attract foreign capital after the strong net selling momentum in recent times.

Economy - Thu, September 18, 2025 | 12:33 pm GMT+7

UOB's latest USD/VND forecast is 26,300 in Q4/2025, 26,200 in Q1/2026

UOB's latest USD/VND forecast is 26,300 in Q4/2025, 26,200 in Q1/2026

Singaporean bank UOB predicted that the USD/VND exchange rate will be on a decline in the coming quarters to 26,300 in Q4/2025, 26,200 in Q1/2026, 26,100 in Q2/2026, and 26,000 in Q3/2026.

Economy - Thu, September 18, 2025 | 9:07 am GMT+7

Agribank - A Strategic gateway for Vietnam’s carbon credits to global market

Agribank - A Strategic gateway for Vietnam’s carbon credits to global market

Carbon credits are emerging as a valuable form of “green asset.” However, to unlock their full potential and turn it into tangible value, Vietnamese businesses require strong financial backing, technical expertise, and market linkages.

Companies - Thu, September 18, 2025 | 9:05 am GMT+7

Care For Vietnam joins ASEAN forum, signs MoU in New Zealand

Care For Vietnam joins ASEAN forum, signs MoU in New Zealand

Care For Vietnam (CFVN) had the honor to be the only Vietnamese enterprise invited to share insights at the "ASEAN Forum 2025: 50 Years + $50 Billion" held at ANZ Centre in Auckland, New Zealand on August 28.

Companies - Thu, September 18, 2025 | 9:00 am GMT+7

Digital technology transforms Vietnam’s food industry

Digital technology transforms Vietnam’s food industry

Amidst robust digital transformation across all sectors, the food processing industry has tapped such digital technologies as Internet of Things, AI, blockchain and Big Data to optimize production processes, control supply chains, and meet consumers’ demands.

Companies - Thu, September 18, 2025 | 8:16 am GMT+7

VPBank issues Vietnam’s first international sustainable bonds

VPBank issues Vietnam’s first international sustainable bonds

VPBank has become the first bank in Vietnam to successfully issue $300 million in sustainable bonds on the international market.

Companies - Wed, September 17, 2025 | 10:24 pm GMT+7

Vietnam’s private conglomerate Vingroup reclaims market capitalization crown after 5 years

Vietnam’s private conglomerate Vingroup reclaims market capitalization crown after 5 years

Vingroup has surpassed state-controlled lender Vietcombank to become the largest market capitalization company in Vietnam as its stock price rose 3.5 times in the past seven months.

Companies - Wed, September 17, 2025 | 10:16 pm GMT+7

First wave of ETF buying could exceed $680 mln if Vietnam secures FTSE market upgrade: broker

First wave of ETF buying could exceed $680 mln if Vietnam secures FTSE market upgrade: broker

Vietnam’s stock market has a strong chance of being upgraded by FTSE Russell in its October 2025 review, a move that could unlock billions of dollars in foreign inflows, said an analyst at broker ASEAN Securities.

Economy - Wed, September 17, 2025 | 4:16 pm GMT+7