The company stated that this selection was based on an evaluation of UHY's professional capabilities and experience in providing services to enterprises of similar scale and operational scope.

CC1 plans to continue its operational restructuring process while ensuring timely and full information disclosure, especially regarding the preparation and release of financial statements.

CC1's headquarters. Photo: CC1

Previously, CC1 had signed an audit contract with Deloitte Vietnam Co., Ltd. (Deloitte Vietnam) to audit its 2025 financial statements.

This marked the first year of collaboration between CC1 and Deloitte Vietnam. CC1's operational scale significantly expanded, with revenue increasing by 21% year-on-year. Its project portfolio also diversified across many locations, focusing on complex key infrastructure works. CC1 explained that Deloitte Vietnam, adhering to international quality control procedures, required additional time to complete necessary audit procedures. This timeline did not align with CC1's expectations for its annual general meeting.

To ensure the timely completion of the audited financial statements as required, after discussing the workload and progress, CC1 and Deloitte Vietnam mutually agreed to terminate the audit contract.

"Both parties commit to close cooperation in communicating with the replacement auditor in accordance with regulations and standards, enabling the new firm to take over the work seamlessly and efficiently," a CC1 representative stated.

Recently, CC1 published its Q1/2026 financial report, indicating continued expansion despite the construction market facing pressure from input costs and material price fluctuations. Revenue for the period reached 2,290 billion VND, a 62% increase compared to Q1/2025 (approximately 1,415 billion VND).

Net cash flow from operating activities also saw a significant improvement, reaching 735,4 billion VND, in contrast to a negative 481,6 billion VND in the same period last year. This result reflects an enhanced ability to recover cash flow from construction activities and project payments. This is considered a bright spot in the company's financial picture, primarily due to reducing the scale of receivables and controlling inventory, thereby strengthening the quality of cash flow during the period.

CC1's gross profit increased by 29% year-on-year, reaching 109 billion VND. However, pre-tax profit saw a slight 6% decrease, partly indicating the impact of fluctuating material prices.

As of 31/3, total assets reached over 18,756 billion VND, a 9,3% increase compared to the end of 2025 (an increase of 1,593 billion VND).

Perspective of Me So bridge, part of Ring Road 4 - Hanoi Capital Region, implemented by CC1. Photo: CC1

Analysts suggest that CC1 still has growth potential as many large-scale projects are entering completion phases and are set to record revenue. Its focus on infrastructure construction, coupled with consistently participating in and winning bids for key national projects recently, has established a foundation for sustained growth and stable operations.

The company currently holds an estimated backlog value of over 42,500 billion VND, alongside a portfolio of large contracts across major infrastructure projects such as Ring Road 4 - Hanoi Capital Region, Bao Loc - Lien Khuong Expressway, Cat Lai bridge, and Long Hung bridge (Dong Nai 2 bridge).

Hoai Phuong