Licogi 14

What Licogi 14 does

Licogi 14 (Công ty cổ phần Licogi14, HNX: L14) is a Vietnamese construction and infrastructure development joint stock company founded in 1982 and headquartered in Việt Trì, Phú Thọ province. The company operates as a member of Tổng Công ty Xây dựng và Phát triển Hạ tầng LICOGI, a state-owned conglomerate under Vietnam's Ministry of Construction, providing it privileged access to public infrastructure tenders. Its core operations span four business segments: (1) Specialized construction including hydropower dam construction, foundation work, and hydraulic infrastructure (notable projects include Hòa Bình, Sơn La, Bắc Hà 90MW, and Bảo Nhai 14MW hydropower); (2) Civil and industrial construction including roads, bridges, and expressways (contractor on Tuyên Quang–Phú Thọ and Tuyên Quang–Hà Giang expressway packages); (3) Real estate development including the Minh Phương, Nam Minh Phương, and Phù Ninh eco-urban areas, plus student housing and the Phượng Mao eco-resort; and (4) Trading operations comprising the Licogi14 branded fuel station network in Việt Trì and Lào Cai and construction materials distribution.

The company generates revenue primarily through project-based competitive bidding for government infrastructure contracts, supplemented by direct property sales to end buyers and retail fuel sales. Its customer base is concentrated in Vietnamese state-owned and provincial-government entities across northern Vietnam (Phú Thọ, Yên Bái, Lào Cai, Tuyên Quang, Hà Giang). The go-to-market motion is enterprise field sales for construction tenders and direct-to-consumer for real estate and fuel. Pricing is set through competitive public bidding rather than market-rate pricing. The company maintains four regional offices (Việt Trì HQ, Yên Bái, Lào Cai, Hà Nội), 251–500 employees, and trades on the Hanoi Stock Exchange under ticker L14 since 2016. Reported financials show declining top-line performance, with revenue contracting from approximately 7,345 billion VND in 2022 to 3,600 billion VND in 2025 according to its disclosed financial statements, alongside recent senior leadership turnover in 2024–2025.

Name

Licogi 14

Legal name

Công ty cổ phần Licogi14

Website

https://licogi14.vn

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

251–500 employees

Short description

Licogi 14 is a Vietnamese state-affiliated construction and infrastructure firm operating construction, real estate, hydropower investment, and fuel/materials trading businesses, primarily serving government clients across northern Vietnam.

Ownership category

akta.pro rank

Headquarters

HQ city

Viet Tri

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Construction and Infrastructure Services: General construction services including roads, bridges, foundations, and infrastructure for government and private clients. Revenue from project-based contracts through competitive bidding.
2. Real Estate Development: Urban development projects including residential plots, apartments, and student housing. The company develops and sells properties in projects like Khu đô thị Minh Phương, Khu đô thị Nam Minh Phương, and Khu đô thị sinh thái Phù Ninh.
3. Petroleum Products: Retail fuel sales through Licogi14 branded gas stations operating in Việt Trì and Lào Cai locations.
4. Building Materials: Trading and distribution of construction materials as part of the company's diversified commercial operations.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Licogi 14 is a Vietnamese construction and infrastructure-development joint stock company that primarily performs construction services for government infrastructure projects (highways, expressways, hydropower plants, foundations), develops and sells urban real estate (Minh Phương, Nam Minh Phương, Phù Ninh urban areas), and operates Licogi14-branded fuel stations and construction-materials trading. It functions as a contractor for the Ministry of Construction and provincial governments in northern Vietnam, and as a developer/seller of residential property to individual buyers.

Product overview

Licogi 14 is a Vietnamese construction and infrastructure development company structured as a joint stock company. The company operates across four main business segments: (1) Real Estate Development - including urban area projects like Khu đô thị Minh Phương and Khu đô thị Nam Minh Phương; (2) Specialized Construction - including hydropower plant construction (Dự án thủy điện Bắc Hà), foundation work, and technical infrastructure; (3) Civil Construction - residential, commercial, and industrial buildings; and (4) Trading Operations - fuel station networks and construction materials. The company also invests in major infrastructure projects including expressway construction (Cao tốc Tuyên Quang - Phú Thọ, Cao tốc Tuyên Quang - Hà Giang).

Differentiator

Problem solved

Functional benefit

Products and services

• Specialized Construction Services (Xây dựng chuyên dụng) Specialized construction services for hydropower plants, foundation engineering, earthwork, and technical infrastructure, delivered to government and private clients in northern Vietnam. Includes project experience on Hòa Bình, Hàm Thuận, Thác Mơ, Sơn La and Bắc Hà hydropower facilities.
• Civil Construction Services (Xây dựng dân dụng) Civil and industrial building construction for residential, commercial, institutional and industrial projects, primarily in northern Vietnamese provinces. Includes school construction (e.g., joint-venture win for Bản Máy inter-level boarding school in Tuyên Quang).
• Expressway Construction Package-level contractor services for Vietnamese government expressway projects, including construction of highway sections (e.g., KM0+00 to KM11+300 of Tuyên Quang–Phú Thọ and package 21 of Tuyên Quang–Hà Giang).
• Real Estate Development (Bất động sản) Development and sale of urban-area residential projects in Phú Thọ province, including Khu đô thị Minh Phương (48–58 ha in Việt Trì), Khu đô thị Nam Minh Phương, Khu đô thị sinh thái trung tâm huyện Phù Ninh (91.53 ha), and student housing at Minh Phương Urban Area. Sold as land plots, townhouses and apartments to individual buyers.
• Licogi14 Fuel Station Retail (Hệ thống cửa hàng xăng dầu Licogi14) Retail sale of petroleum products through Licogi14-branded gas stations operating in Việt Trì (Phú Thọ) and Lào Cai, serving local consumer and small-business markets.
• Building Materials Trading Trading and distribution of construction materials as part of Licogi 14's diversified commercial operations, complementing its construction projects.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered operational, core and project-based.

• Công ty TNHH Kiểm toán An Việt (An Viet Audit Co., Ltd.)operationalOthers · 16 March 2026Licogi 14 engages An Viet Audit for annual financial statement audits and semi-annual review services. Contract signed for 2025 and 2026 audit engagements, with Audit Report No. 21/2026/KT-AVHN-TC dated March 16, 2026 for 2025 audited financial statements.
• Tổng công ty Xây dựng và Phát triển Hạ tầng LICOGI (LICOGI Corporation)coreStrategic or Co-development PartnerLicogi 14 is a member/affiliate company of Tổng công ty LICOGI under the Ministry of Construction. The parent company provides organizational oversight and strategic direction for member companies including Licogi 14.
• Liên danh D&T – Quang Vinh (Joint Venture with D&T and Quang Vinh)project-basedStrategic or Co-development PartnerLicogi 14 formed joint bidding consortium with D&T and Quang Vinh companies to win public investment project: Construction of Bản Máy Inter- level boarding school (Primary and Secondary) in Tuyên Quang province.

Scale indicators10 records

Recent moves6 records

Expansion highlights4 records

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 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 Licogi 14