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PC1 Joint Stock Company (ticker: PC1) has released the minutes of its 2026 annual general meeting. Earlier on 24 April, the Ho Chi Minh City Stock Exchange (HOSE) issued a letter delaying the disclosure of information related to the resolution and the meeting minutes held on 22 April.
According to the newly published minutes, PC1 has a total of 29,052 shareholders. Of these, 81 shareholders attended the meeting, representing more than 215 million voting shares, equivalent to over 52% of total shares.
At the meeting, shareholders approved PC1’s 2026 plan with consolidated revenue target of VND 15,618 billion, up 19% year-on-year. The target net profit after tax is VND 1,056 billion, down 22% compared with the previous year.
PC1’s leadership outlined four core growth pillars: power generation; EPC contractor activities (including expansion into international markets and beyond the traditional power sector); green industrial parks and high-liquidity residential real estate; and mining.
For Q1 2026, management estimated revenue at about 15% of the annual plan and profit at about 25%. The company noted that the construction segment typically has lower revenue in the first quarter, with a peak in Q4.
Shareholders approved PC1’s plan to increase charter capital through three issuance options, which together would total more than 148 million shares.
If completed, PC1’s charter capital would increase from VND 4,112 billion to nearly VND 5,594 billion.
Regarding the capital increase, PC1’s leadership said that in 2026–2030 the company expects opportunities to expand scale and invest long-term. The company stated it will take a cautious approach, focusing on project feasibility assessments before making decisions and ensuring execution progress aligns with the plan.
To optimize capital use, PC1 said it will prioritize using part of mobilized funds to reduce short-term debt and increase working capital. When projects complete regulatory procedures, the company plans to shift to long-term funding, including equity and debt financing, to maintain an appropriate financial structure.
PC1 is described as one of Vietnam’s leading EPC general contractors in power transmission lines and substations, with more than 60 years of operation. In manufacturing, PC1 is stated to be the only and largest unit in Vietnam for designing and producing single-armed 110 kV and 220 kV steel poles (1, 2, and 4 circuit) and steel posts up to 750 kV.
In the stock market, PC1’s shares have reportedly underperformed recently due to negative rumors that the company has not verified. Selling pressure reportedly drove the stock price down for nine consecutive sessions, with three sessions on 23, 24, and 28 April each hitting the floor. PC1 is currently trading at around VND 20,900 per share.
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