About LUKS GROUP (VN) Company

The main business and assets of Lu's Group are located in Vietnam. More than 95% of the Group's revenue comes from Vietnam, and about 75% of its non-current assets are located in Vietnam. The Group is mainly engaged in infrastructure and real estate related businesses in Vietnam, including cement business, property investment and real estate development business. History and development The Group began investing in the Vietnamese market in 1991. Before investing in Vietnam, the Group was already a pioneer in investing in the Chinese market in 1979, when China began opening its market to the outside world; the Group also formally established a production base in China in 1982 to manufacture televisions and TV components. Benefiting from the rapid development of the Chinese economy at the time, the Group also grew rapidly and was listed on the Hong Kong Stock Exchange in 1987. At the beginning of the 1990s, it was anticipated that competition in the Chinese market would intensify, particularly in the electronics industry, where management understood that the Group would diversify its investments in different industries and/or regions in due course. After years of studying other Asian countries, management discovered that Vietnam, like an unmined jewel, has rich resources and huge potential, and is in many ways very similar to the early days of China's opening up in the 1980s. Why Vietnam A country located in Asia, with a land area of about 330,000 square kilometers, more than 1,600 kilometers of coastline, and a population close to 100 million, is probably reminiscent of Japan. But if it has the youngest population in Asia, and the average national income is only 1,130 dollars in terms of population (in 2010), then it is Vietnam. Vietnam is a very rich country in terms of real resources. It is rich in natural resources, including oil, coal and various minerals, large hydroelectric power generation potential, abundant agricultural products (rice and coffee are among the top three exporters in the world), and rich marine resources. With a population of over 87 million, it can not only become a huge market for various commodities, but also provide sufficient labor. In fact, Vietnam's labor costs are among the lowest in Asia. However, this does not mean that their quality is poor; Vietnamese workers are generally rated as smart, hardworking, skilled, and relatively well-educated (according to official statistics, over 90% of the country's literate population is over 90%). Perhaps because of the war and post-war baby boom, Vietnam has the youngest population in Asia. About 70% of the population is 15 to 64 years old, while the median population is only 28 years old. The Socialist Republic of Vietnam - From the name of the country, it can be seen that the political system and government structure adopted are very similar to China's. Over the past 20 years, starting with the reform and opening up in 1986 (called Doi Moi), there has always been great political stability. This situation is particularly obvious compared to some other Southeast Asian countries. Although Vietnam's economy has experienced a number of ups and downs over the past 20 years, it is believed that when it officially joined the WTO in January 2007, it became a catalyst, speeding up its economic growth and unleashing its huge potential. Looking at China's rapid economic development since joining the WTO, there seems to be no reason why Vietnam's economic development will go backwards in the future. Why infrastructure and property related business in Vietnam In developing countries such as Vietnam, management believes that when the economy starts to develop, the first wave of economic growth should be in the infrastructure-related industries. Therefore, investing in infrastructure and property related businesses should be in an advantageous position to benefit from economic development. Strategy and Objectives Supported by stable income and cash inflows from the property investment business and cement business, the Group's development goal is to seize the opportunity to invest in the real estate development business in Ho Chi Minh City. The real estate development business strategy is to build middle to high-end residential apartments to meet the rising demand of the local middle class, whose numbers are growing rapidly in line with economic development.