FECON Joint Stock Company (stock code: FCN) has officially declared that it is unable to hold its annual shareholders' meeting for 2026 due to not meeting the required attendance threshold. As per the company’s regulations, more than 50% of shareholders must be present for the meeting to proceed.

On the cutoff date of May 25, 2026, FECON had 14,902 shareholders representing 157.44 million voting shares. However, when the meeting was scheduled to commence at 8:55 AM on June 27, 2026, only 67 shareholders were present, either in person or through proxies, representing just 46.64 million shares, which equates to approximately 29.626% of the total voting shares.

This lack of participation means the annual meeting cannot be conducted as planned. The company has indicated that it will organize a second meeting in compliance with legal requirements. FECON had set ambitious targets for 2026, aiming for a consolidated revenue of around 5.6 trillion VND, marking a 15% increase from 2025, and a post-tax profit of 250 billion VND, which would represent a 163% rise compared to the previous year.

The growth strategy is based on the anticipated demand for infrastructure investment, industrial development, and continued foreign direct investment (FDI) inflows, which are expected to drive the construction sector. FECON is not only focusing on its role as a foundation and underground contractor but is also expanding into integrated infrastructure development, engaging more deeply in large-scale projects.

In 2026, the company plans to intensify its efforts in several key areas, including transportation infrastructure, industrial facilities, energy, and urban real estate development. One notable project is the social housing initiative in Vạn Xuân, Thái Nguyên, which has recently commenced construction. This project, with a total investment of over 1.223 trillion VND, spans approximately 2.1 hectares and will include around 910 social housing units and 247 commercial apartments, aiming to meet the housing needs of approximately 2,670 residents.

Furthermore, FECON is also advancing in industrial real estate to capitalize on the wave of production relocation and foreign investment. The Hòa Yên Industrial Park in Bắc Ninh is a key project for the company in 2026, covering approximately 256.68 hectares with a total investment exceeding 3.7 trillion VND, aimed at attracting high-tech and electronic enterprises.