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Trading activity in PC1 stock surged ahead of the long holiday, with multiple sessions reaching the price floor. On 29 April, PC1 intermittently escaped the down circuit and recorded a record trading volume. By mid-afternoon, total trading volume had surpassed 38 million shares, equivalent to more than 9.3% of the company’s outstanding shares and setting a record for the ticker. The share price hovered around 19,800 VND per share, down roughly 28% over 10 trading sessions, while market capitalization remained above 8.1 trillion VND.
PC1’s “rescue” followed the company’s release of the minutes of its annual general meeting (AGM) held on 22 April. The minutes state that there were 29,052 shareholders in total. Of these, 81 attended the meeting, representing more than 215 million voting shares, or over 52% of total shares.
At the AGM, shareholders approved PC1’s 2026 business plan, including consolidated revenue of 15,618 billion VND, up 19% year-on-year, and consolidated net profit after tax of 1,056 billion VND, down 22%.
Management reiterated four core growth pillars: power generation; electrical EPC contracting (including expansion into international markets beyond traditional power); green industrial zones and liquid housing real estate; and mining.
For Q1 2026, management estimated revenue at about 15% of the annual plan, while profit was estimated at around 25%. Management noted that the construction segment often contributes less in the first quarter, with a peak in Q4.
Shareholders also approved three methods to increase PC1’s charter capital. The company plans to issue more than 12.3 million shares under an ESOP at 10,000 VND per share, raising about 123 billion VND to strengthen working capital. PC1 will also issue nearly 62 million shares to pay 2025 dividends at 15%, and will offer up to over 74 million shares to existing shareholders.
In total, PC1 expects to issue more than 148 million shares. If completed, charter capital would increase from 4,112 billion VND to nearly 5,594 billion VND.
PC1 is among Vietnam’s leading EPC contractors for transmission lines and substations, with more than 60 years of experience. In manufacturing, it is the only and largest Vietnamese player in designing and fabricating 110 kV and 220 kV single-tower steel poles (1, 2, 4 circuits) and 750 kV tied steel towers.
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