PC1 stock fluctuates after annual general meeting as 2026 plan outlines revenue target and capital-raising measures

PC1 has set out its business plan for 2026, targeting consolidated revenue of VND 15,618 billion, up 19% compared with 2025, and consolidated after-tax profit of VND 1,056 billion, down 22% year-on-year. Finance Director Tran Minh Viet said the 2026 targets are lower than 2025 due to several operating factors across the group’s key segments.

Reasons the 2026 profit target is lower than 2025

Ms. Viet said the plan reflects weaker performance drivers in energy, minerals and construction:

• Energy segment: Some energy plants were affected by hydrological conditions, resulting in lower revenue and profit. The energy segment accounts for a large share of the group’s profit.
• Minerals segment: Ore quality is expected to be less favorable in 2026 than in 2025, which will affect profitability.
• Construction segment: While construction revenue is expected to remain high, input costs are rising due to the Middle East conflict and higher interest rates, weighing on 2026 profits.

Expected quarterly pattern

Ms. Viet noted that construction work is typically contracted, so quarterly results may be uneven. For Q1 2026, she expects revenue to be around 15% of the full-year plan and profit to be around 25% of the full-year plan.

PC1’s 2026 strategic direction

For 2026, PC1 said it will continue to optimize its investment portfolio, prioritizing long-term resources for renewable energy projects, green and smart industrial parks, and real estate projects tied to genuine housing demand. The company also plans to strengthen turnkey capabilities, accelerate digital transformation, apply AI technologies, operate lean, and improve financial governance, with cash flow and efficiency at the center of risk management.

Planned increase in charter capital in 2026

PC1 plans to increase its charter capital in 2026 through three options:

• Employee stock option plan (ESOP): Issue more than 12.3 million shares at VND 10,000 per share, raising about VND 123 billion to support working capital. The shares will be restricted from transfer for two years.
• Dividend issuance: Issue shares as a dividend at a rate of 15% (100 shares receive 15 new shares). The expected issuance is nearly 62 million new shares, sourced from undistributed post-tax profits on the audited 2025 balance sheet. These shares are not restricted from transfer.
• Rights issue to existing shareholders: Offer up to more than 74 million shares. The exercise ratio is 18% (one share per one right to buy; 100 rights can buy 18 new shares). Rights to purchase are non-transferable. The offering price will be not lower than VND 20,000 per share, expected to raise about VND 1,480 billion. Proceeds will be used to contribute capital to projects and to repay debt.