Dear:       - Shareholders of the company

First of all, on behalf of the Board of Directors, Executive Board of BR - VT HousE Development Joint Stock Company (stock code: HDC), I would like to send my respectful greetings and deep thanks to our shareholders for accompanying us and supporting the Company in the past time!

In recent days, the stock market has been having a series of strong downward correction sessions due to many fluctuations in the environment. Besides, there are also negative information affecting a number of industry groups, including Real Estate, which has a certain influence on investors' psychology. In that situation, HDC shares also dropped a lot and were sold quite strongly, many shareholders gave questions about the private placement and the implementation of the Company's business plan. On behalf of the Board of Directors and the Executive Board, I would like to inform shareholders of some following contents:

1. The private placement of shares is to increase the financial capacity of the Company so that the Company can grow faster in the medium and long term future. However, due to an unfavorable market, the Board of Directors asked for permission to postpone the plan for the private placement because it didn’t bring benefits to shareholders and the Company. However, the Company confirmed that it did not affect the production and business plans of the Company much.
2. Currently, the Company's projects are still deployed normally, the real estate market is good and the Company still ensures the plan to grow revenue and profit according to the announced 5-year plan, not depending on the capital raising from the private placement, as presented at the general meeting of the Board of Directors of the Company. The Company's 5-year plan is built on the basis of prudence and feasibility and on the basis of ongoing projects.
3. The tightening of capital into the real estate market will not affect the Company much. The company will take the initiative in flexible financial measures, the banks will continue to support us because we are a reputable business.
4. The Company also believes that when the real estate market is checked, cleaned and stabilized, it will be an opportunity for the prestigious companies like HODECO.

The Board of Directors, the Executive Board believe that the recent effects of the market on HDC stock are short-term and will not affect the Company's long-term development prospects. We believe that with the trust, support and companionship of the shareholders, HODECO will grow stronger and stronger in the coming time.

Best regards!

Attached file: Open letter