Khang Dien House (HOSE: KDH)| KDH 2025 AGM Note

2025 Business guidance:

o       Revenue: VND 3,800 bn (+15.9% YoY)

o       NPAT: VND 1,000 bn (+23.4% YoY)

Q1/2025 earnings:

Consolidated revenue of VND 716.3 bn (+114.5% YoY) and NPAT of VND 118.7 bn (+85.6% YoY), completing 18.9% and 11.2% of the full-year target, respectively. Project Updates

o       The Privia: 60% of units were handed over in 2024, with the remaining 40% to be handed over in 2025. KDH has also issued land use right certificates (LURCs) to 30% of customers.

o       Clarita & Emeria – in partnership with Keppel Land (new commercial name: Gladia): KDH expects to launch the low-rise segment for sale in Q3/2025, comprising 226 units. The high-rise segment, including 600 apartment units, will begin construction in 2026.

o       Le Minh Xuan Expansion (109 ha): 89 ha have received land lease approval, and KDH is currently developing infrastructure on this area. The company plans to start commercial operations in 2027. KDH has also received several partnership proposals from interested parties.

o       Tan Tao A: This is currently Khang Dien’s largest project, and the 1/500 master plan has been approved.

o       Binh Hung 11A (16.4 ha): The project has obtained 1/500 approval, land handover, and a construction permit. The company is currently developing infrastructure.

Other Activities

o       Dividend policy: KDH plans to (i) pay a 10% stock dividend (2024) and 10% stock dividend (2025) in Fiscal Year 2025; and (ii) issue ESOP at rate of 0.985%, equivalent to 9,960,000 cổ phiếu with issue price of VND 14,000/share.

AGM documents 2025: https://www.khangdien.com.vn/co-dong/dai-hoi-dong-co-dong

AGM resolution 2025: https://www.khangdien.com.vn/wp-content/uploads/2025/04/20250425-kdh-nq-bbh-dhdcd-thuong-nien-2025-ve-sign.pdf