On the morning of June 27, 2020, Hai Phat Investment Joint Stock Company (MCK: HPX) held a meeting of the General Meeting of annual shareholders in 2020 to report to the Meeting on the business results of 2019 and the business plan 2020. Reporting at the meeting, Mr. Doan Hoa Thuan - General Director of Hai Phat said that by the end of 2019, Hai Phat recorded revenue from real estate activities contributing 87.4%, continuing to account for a high proportion in total revenue. In particular, the highlight is the sale of most of the stock funds of the Roman project and the The Vesta project. Sharing about the business plan of 2020, Mr. Thuan said that Hai Phat set a target of 1,600 – 2000  billion VND in revenue and 350-400 billion VND in constituency after-tax profit. This plan was set up by HPX in the context of economic impact strongly by Covid-19, the urban land fund in two key markets, Hanoi and Ho Chi Minh City, is defeated, plus obstacles in the completing legal projects in key markets as Hanoi, HCMC. HCMC, etc.

< figcaption>General Meeting of Investment Shareholders Hai Phat Investment Joint Stock Company 2020.

In order to achieve the business targets set out by Hai Phat's representative, the target in 2020 needs to implement site clearance and procedures for An Binh 1 & 2 (Can Tho) projects with the scale of 223 Mai Pha project (Lang Son) with a scale of 91.7 ha and Dong Quang project (Hanoi) with a scale of 30 ha to ensure implementation in phases in 2021 - 2025 ; The Phu Hai 5 ha land project (Phan Thiet) will be implemented from October 2020; Deploying the investment in the project of building commercial houses under the Fidel Park project, Dong Ha city (Quang Tri) with a scale of 1.1 hectares of commercial land. At the same time, the company will complete the construction of a 2.6 ha commercial service area project north of Tuy Hoa airport in Phu Yen (trade name is The Seahara Phu Yen Shop Villas); Notably, Hai Phat aims to find at least two more projects in 2020 to be able to conduct short-term business, restructure its portfolio towards transferring some projects and withdrawing capital investment cooperation.

During the meeting, Hai Phat's Board of Directors submitted to the General Meeting of Shareholders to approve the Proposal to increase charter capital, specifically, the capital increase will be through two phases including opening shares to pay 2019 dividend at the rate of 15% and issue shares to swap shares in order to increase the ownership rate in Hai Phat Thu Do Investment Joint Stock Company. The meeting also approved other important contents about the Proposal accept the plan to change the organizational and managerial model of the Company, the Proposal on amendments to the Company's Charter, Proposal on waiting appointment and elect additional members of the Board of Directors for the term of 2018 - 2023, etc. Proposals were approved by the General Meeting of Shareholders with a high rate of consensus.

Over the past years, Hai Phat always maintains a high growth rate. In 2020, Hai Phat is cautious about profit growth due to the impact of epidemics and difficulties in legal procedures of the real estate market. However, CEO Hai Phat approves that if the situation in the last 6 months of the year gets better, Hai Phat will strive to bring business results sideways compared to 2019, and will continue to expand its land fund and preparing resources to take over market share when the market bounces back.