1369 Construction

What 1369 Construction does

1369 Construction Joint Stock Company (HNX: C69) is a Vietnamese holding-company-based construction and real estate developer headquartered in Hai Phong, Vietnam, founded in 2003 with initial charter capital of 3.5 billion VND that has grown to 618 billion VND. The company operates through four core business segments: real estate development (residential urban projects, industrial zones, commercial properties across multiple provinces), construction contracting (civil, infrastructure, and industrial works as main contractor and joint-venture partner), import-export (limestone and construction stone exports to China, Taiwan, Bangladesh, India, and Japan, plus clean energy equipment imports), and commerce (trading of construction materials, automotive retail).

C69 serves Vietnamese provincial governments as the primary client base, winning infrastructure, urban development, and industrial zone projects through competitive bidding and direct negotiation, with additional enterprise customers in construction/mining and individual consumers via its 51%-owned Hyundai Hai Duong automotive dealership. The group structure includes three core subsidiaries (KCN 1369 industrial zone developer at 70%, Hyundai Hai Duong dealership at 51%, Dong A Construction consulting at 100%) and two associates (Sunfeel Vietnam silk production at 35%, Hai Duong Agricultural Mechanics at 48%).

The company has no proprietary technology platform and its differentiation rests on regulatory approvals, multi-province operational footprint, bank financing relationships (notably VietinBank), and a holdings structure that diversifies revenue across construction, real estate, automotive, and manufacturing. It is listed on the Hanoi Stock Exchange (HNX) under ticker C69 since 2017, with 61,799,972 shares outstanding and 400+ employees.

Name

1369 Construction

Legal name

Công Ty Cổ Phần Xây Dựng 1369

Website

https://cpxd1369.com.vn

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

Vietnamese construction and real estate developer (HNX: C69) operating since 2003 across real estate, construction, import-export, and commerce, serving provincial governments, enterprises, and consumers through its Hai Phong-headquartered holding structure.

Ownership category

akta.pro rank

Product category

Construction and Real Estate Development

NAICS

Commercial and Institutional Building Construction (23622), Land Subdivision (23721), Nonresidential Building Construction (2362)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Commercial General Contracting (New Build) (IMAFAAAA)

akta.pro secondary industries

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Government & Civic Building Construction (Courthouses, City Halls, Public Safety) (IMAFACAF), Office & Corporate Building Construction (IMAFACAA)

Keywords

• Construction services
• Real estate development
• Industrial zone development
• Construction materials trading
• Infrastructure contracting

Headquarters

HQ city

Hai Duong

HQ country

Vietnam

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Bất động sản (Real Estate Development): Development of residential urban projects, industrial zones, and commercial real estate across multiple provinces. Primary growth driver as of 2025, contributing the largest share of consolidated profit. Real estate projects span urban residential (Thai Hoc, Dak Nong), industrial zones (Yen Chau, Nam Dinh), and commercial properties in Bac Ninh.
2. Xây dựng (Construction): General construction contracting services including civil construction, infrastructure works, road building, and construction of public facilities. Projects executed both as main contractor and as part of joint ventures. Revenue from construction contracts awarded by government and private clients.
3. Thương mại (Trading/Commerce): Trading of construction materials including cement, steel, and stone; automotive dealership through Hyundai Hải Dương (51% owned subsidiary); and solar energy equipment imports. Commerce segment historically generated fastest cash flow for the company.
4. Xuất nhập khẩu (Import/Export): Export of limestone and construction stone to international markets including China, Taiwan, Bangladesh, India, and Japan. Import of clean energy equipment (solar panels). Historically contributed approximately 25% of revenue.
5. Cụm công nghiệp Yến Châu (Industrial Zone Development): Development and operation of the Yen Chau Industrial Zone in Nam Dinh province. Total investment of 876 billion VND. C69 owns 70% of the managing entity (Công ty Cổ phần Khu Công nghiệp 1369).

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

1369 Construction (C69) is a project-based construction and real estate developer operating across four verticals: real estate development (residential, urban, and industrial zones), general construction contracting (civil and infrastructure works), import/export of construction stone and clean energy equipment, and commerce (construction materials trading and Hyundai automotive dealership). Projects are executed as main contractor or joint venture with provincial authorities, private developers, and industrial zone operators primarily across northern and central Vietnam.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Development (Bất động sản) Development of residential, urban, and industrial real estate projects across multiple provinces in Vietnam, including urban districts, cultural centers, and industrial zones. Sold to provincial authorities, enterprises, and individual buyers.
• Construction Services (Xây dựng) General construction contracting services including civil construction, infrastructure works, road building, and industrial facility construction across northern Vietnam. Contracts awarded by government and private clients through competitive bidding or direct negotiation.
• Import-Export Trading (Xuất nhập khẩu) Export of construction stone (limestone) and import of clean energy products (solar panels/batteries). Exports shipped to China, Taiwan, Bangladesh, India, and Japan; historically contributing approximately 25% of revenue.
• Commerce (Thương mại) Trading in construction materials including cement, steel, and stone; commercial real estate operations; and solar energy equipment imports. The commerce segment historically generated the fastest cash flow for the company.
• Hyundai Hai Duong – Toan Thang (Hyundai Dealership) 51%-owned subsidiary operating as an authorized 3S Hyundai automobile dealership (sales, spare parts, service) in the Hai Duong/Hai Phong region, with a 3,000 m² showroom at 245A Nguyen Luong Bang, Hai Phong. Established in 2002, acquired by C69 in May 2022.
• Yen Chau Industrial Cluster – Nam Dinh 75 ha industrial cluster project in Yen Chau commune, Giao Thuy district, Nam Dinh province, with total investment of 876 billion VND, implemented in two phases (Phase I: 39.6 ha 2024–2027; Phase II: 35.4 ha 2026–2027). C69 holds 70% equity stake in the project company Cong ty Co phan Khu Cong nghiep 1369. Established by Nam Dinh People's Committee Decision No. 411/QĐ-UBND dated 20 February 2025.
• New Urban Area – Nghia Duc Ward, Gia Nghia City, Dak Nong 94.07 ha new urban development project in Gia Nghia city, Dak Nong province, with infrastructure, commercial services, and residential amenities. Sold to local residents and investors.
• Thai Hoc Cultural, Sports, Education and New Residential Center 9.96 ha urban development project in Binh Giang district (now Duong An commune, Hai Phong city), with total investment of 184 billion VND. Jointly developed with Hung Phat HD construction company under a credit facility signed with VietinBank Hai Duong branch on 24 October 2025.
• Solar Energy Systems Import and installation of solar energy battery systems for deployment within C69-developed industrial zones and factories, supporting net-zero and clean energy goals.
• Sunfeel Vietnam (Silk Production) 35%-owned associated company operating a silk production facility in Lam Dong province with 3.5 ha and 10 production lines, exporting raw silk (grade 4A-5A) to India and other markets. C69 contributes 35% equity to diversify into natural-origin products.

Quantifiable outcome

• Lợi nhuận sau thuế hợp nhất năm 2025 đạt 43 tỷ đồng, hoàn thành 143% kế hoạch năm
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• Công ty Cổ phần Đầu tư Xây dựng và Thương mại Hưng Phát HDcoreStrategic or Co-development Partner · 24 October 2025Liên danh chủ đầu tư cùng C69 trong Dự án Khu trung tâm văn hóa, thể thao, giáo dục và dân cư mới xã Thái Học. C69 đứng đầu liên danh với tư cách chủ đầu tư chính. Hưng Phát HD là doanh nghiệp uy tín trong lĩnh vực xây dựng và phát triển hạ tầng đô thị tại Hải Dương.
• Công ty Cổ phần Sunfeel Việt NamminorStrategic or Co-development Partner · 1 May 2025C69 góp vốn 35% vào Công ty Cổ phần Sunfeel Việt Nam — doanh nghiệp sản xuất và xuất khẩu tơ tằm tại Lâm Đồng (KCN Phú Hội, 3,5 hecta, 10 dây chuyền). Động thái nhằm đa dạng hóa nguồn thu từ sản phẩm có nguồn gốc tự nhiên trong chuỗi giá trị tơ tằm.
• Công ty Cổ phần Khu Công nghiệp 1369coreStrategic or Co-development Partner · 20 February 2025Công ty liên kết do C69 sở hữu 70% vốn điều lệ, thực hiện Dự án Cụm công nghiệp Yến Châu quy mô 75 ha tại Nam Định với tổng mức đầu tư 876 tỷ đồng.
• Chính quyền tỉnh Nam ĐịnhcoreOthers · 20 February 2025Dự án Cụm công nghiệp Yến Châu được thành lập theo Quyết định số 411/QĐ-UBND ngày 20/02/2025, với sự phê duyệt của UBND tỉnh Nam Định.
• Công ty TNHH Tokumo (Nhật Bản)minorStrategic or Co-development Partner · 1 January 2025C69 đầu tư góp vốn vào Công ty TNHH Tokumo của Nhật Bản, tiếp cận các tiêu chuẩn quản trị tiên tiến và công nghệ hiện đại, nâng cao sức cạnh tranh trên thị trường và sẵn sàng tham gia các dự án quốc tế.
• Công ty TNHH Toàn Thắng – Hyundai Hải DươngcoreChannel Partner/ Reseller/ Distributor · 31 May 2022C69 nắm giữ 51% vốn góp tại Hyundai Hải Dương thông qua thương vụ M&A năm 2022, đưa đơn vị này trở thành công ty con. Hyundai Hải Dương là đại lý ủy quyền 3S của Hyundai Thành Công tại Hải Dương, thành lập từ 2002, sở hữu showroom 3.000m² tại 245A Nguyễn Lương Bằng, Hải Phòng.
• Các đối tác xuất khẩu đá (Trung Quốc, Đài Loan, Bangladesh, Ấn Độ, Nhật Bản)minorOthersC69 xuất khẩu đá vôi và đá xây dựng cho các đối tác tại Trung Quốc, Đài Loan, Bangladesh, Ấn Độ và Nhật Bản. Các hợp đồng xuất khẩu lớn đã được ký kết với các công ty như Công ty TNHH Quốc tế Blooming (6 hợp đồng).

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Licogi: HNX-listed Vietnamese construction and infrastructure group. Comparable to C69 as a smaller-cap, listed general contractor pursuing infrastructure and real estate projects, often with government counterparts.
• Hoa Binh Construction Group: HNX-listed Vietnamese general contractor building commercial, residential, and industrial projects nationwide. Closely comparable to C69 in business model (general contracting + real estate development) and target customers (private developers and government).
• Dat Xanh Group: HOSE-listed Vietnamese real estate services and developer group active across residential and industrial property. Comparable to C69 in real estate development, with overlapping geographic focus in southern Vietnam.
• FECON Corporation: HOSE-listed Vietnamese foundation and civil engineering contractor active in infrastructure, industrial, and energy projects. Comparable to C69 in infrastructure/heavy construction exposure and project-based contracting model.
• Novaland (NovaLand Group): Major HOSE-listed Vietnamese real estate developer focused on urban residential and township projects. Comparable to C69 in real estate development orientation, though at significantly larger scale and concentrated in HCMC.
• Song Da Corporation: HNX/HOSE-listed Vietnamese construction and infrastructure group with hydropower, civil, and real estate operations. Comparable to C69 in combining infrastructure construction with real estate development and overseas project activity.
• Phat Dat Real Estate Development: HOSE-listed Vietnamese real estate developer active in residential and township projects. Comparable to C69 in residential real estate development focus, with similar involvement of urban-area master-planned communities.

Broad incumbents

• Coteccons Construction: Largest HOSE-listed general contractor in Vietnam focused on commercial and industrial projects. Comparable to C69 in core construction contracting but operates at materially larger scale across higher-tier developments.
• Vinaconex: Large state-linked Vietnamese construction and infrastructure group active in civil, industrial, and real estate. Comparable to C69 in combining general contracting with real estate development, but with a much larger and more diversified project portfolio.

Emerging players

• Xuan Mai Corporation: Vietnamese construction and real estate group active in industrial and residential development. Comparable to C69 as a smaller-scale integrated developer-contractor pursuing industrial-park and urban projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Cpxd1369

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 1369 Construction