911 Group Chairman Suddenly Passes Away Before Extraordinary Shareholders' Meeting

911 Group Corporation (HoSE: NO1) has just sent a notice to the State Securities Commission and the Ho Chi Minh City Stock Exchange stating that Mr. Luu Dinh Tuan, Chairman of the Board of Directors (BOD) and legal representative, passed away on November 22 - right before the company's extraordinary General Meeting of Shareholders (GMS) held on November 23.

Mr. Luu Dinh Tuan (1979), originally from Thanh Hoa, has held the position of Chairman of the Board of Directors since March 2011 and owns 5 million shares, equivalent to more than 20.8% of capital.

Mr. Luu Dinh Tuan passed away at a time when 911 Group was entering a very positive phase of change. Shares doubled in the past 3 months, from around 6,000 VND/share to 13,300 VND/share by the end of the session on November 22.

911 Group was established in 2011, operating in the field of providing excavators, concrete mixers, forklifts, road construction equipment, dump trucks, plastic injection machines, concrete spraying trucks, environmental equipment, port equipment...

This extraordinary shareholders' meeting has important content, including approving the car purchase and sale contract and battery rental service with VinFast Trading and Services Company Limited.

NO1 has just announced a cooperation plan with electric car company VinFast to deploy a taxi service branded "911 taxi" with the target of 200 cars by the end of 2024 and 2,200 cars by the end of 2025, initially deployed in Dong Nai and Binh Duong.

In the third quarter, 911 Group recorded net revenue of VND226 billion, down 13% year-on-year, but profit reached nearly VND5 billion, up 26%. In the first 9 months, revenue increased by 63% to VND673 billion, profit increased more than 3 times to VND19 billion.