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Trading session on April 24, continuing the previous day’s momentum, PC1 shares of PC1 Group Joint Stock Company quickly hit the floor price of 22,450 dong per share at the open, with more than 22.5 million shares remaining on the floor. This is the second consecutive floor-trading session for PC1; after two sessions on the floor, PC1’s share price has fallen by more than 13%. Along with PC1, TV1 is another name whose stock price fell sharply in the last two sessions, down 7.33% and 4.91% today. PC1 is a major company in the power construction sector. It is carrying out many national power transmission projects, ranging from being an EPC contractor and PC, to supplying 500 kV voltage, and a series of specialized projects such as Gis substations, power delivery to islands, and submarine cables. In addition, PC1 operates seven hydropower plants and is constructing two new plants with total capacity of about 212 MW. PC1 owns 57.27% of Tan Phat Minerals JSC, the investor in the open-pit nickel-copper mining project in Quang Trung commune, Hoa An district, Cao Bang Province. The company also engages in residential real estate and industrial real estate. Earlier on April 22, PC1 Group Joint Stock Company held its 2026 annual general meeting of shareholders. Some key 2026 targets include: consolidated revenue aiming at 15,618 billion VND, up 19%; consolidated after-tax profit of 1,056 billion VND, down 22% from 2025; dividend payout target to maintain a 15% payout ratio, the same as 2025. Regarding business results, Ms. Tran Minh Viet – Head of PC1 Finance Department – said that due to the nature of construction, Q1 revenue shares are not high; peak activity typically occurs in Q4. Q1 revenue is estimated at around 15%, and profit around 25% of plan. In 2026, PC1 plans to raise its charter capital through three options. First, issuing shares under an Employee Stock Ownership Plan (ESOP). The company intends to issue more than 12.3 million shares at 10,000 dong per share, raising about 123 billion dong to boost working capital. The issued shares will be non-transferable for two years. Second, issuing shares to pay a stock dividend at 15% (i.e., 100 shares entitle 15 new shares). The issuance is expected to be nearly 62 million new shares, drawn from undistributed after-tax profits as of the 2025 audited financial statements. These shares are not restricted from transfer. Third, a rights issue to existing shareholders. PC1 plans to offer up to more than 74 million shares. The rights issue ratio is 18% (one share gives one right, and 100 rights can buy 18 new shares). However, the rights to buy are non-transferable. The offer price is not lower than 20,000 dong per share, raising about 1,480 billion dong. The funds will be used to fund projects and repay debt.
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