Shark Hung Resigns from Cen Land (CRE) Board Ahead of AGM

Overview

Pham Thanh Hung, widely known as Shark Hung, has submitted his resignation from the board of directors of Cen Land (CRE), citing personal reasons and new directions. The resignation will be put to a shareholder vote at the company’s annual general meeting scheduled for May 22, 2026. The news comes amid recent social media speculation about Hung’s personal activities, which he has publicly stated are unrelated to CRE.

Key Facts

• Pham Thanh Hung (Shark Hung) submitted his resignation from the board of Cen Land (CRE), effective upon shareholder approval.
• The resignation is due to personal reasons and new directions, as stated in his letter.
• The resignation will be presented at CRE’s annual general meeting on May 22, 2026.
• CRE’s 2025 consolidated net revenue reached VND 1,323 billion, down 14% year-on-year.
• Despite lower revenue, gross profit improved due to reduced cost of goods sold.
• Pre-tax profit for 2025 was VND 101 billion, nearly double the prior year.
• Hung recently addressed social media rumors, clarifying that his personal investment activities have no legal, financial, or operational ties to CRE.

What Happened

Cen Land (CRE) announced that it has received a resignation letter from board member Pham Thanh Hung (Shark Hung). In the letter, Hung stated that he was elected to the board for the 2023-2028 term but now wishes to focus on personal matters and pursue new directions. The resignation will be submitted to the annual general meeting of shareholders for approval, as per regulations.

Hung’s departure follows a period of social media speculation about his personal activities. In a recent Facebook post, Hung acknowledged the spread of unverified information and urged the public to rely on official sources. He emphasized that his personal investment activities are entirely separate from Cen Land, where he serves as Vice Chairman of the board. He expressed concern that unchecked rumors could affect investor and shareholder sentiment.

Market Context

CRE shares trade on the Ho Chi Minh Stock Exchange (HOSE). The company’s 2025 results showed resilience: although revenue fell 14% to VND 1,323 billion, cost controls and expense reductions enabled pre-tax profit to double to VND 101 billion. The resignation of a high-profile board member like Shark Hung may introduce short-term uncertainty, but the company’s improved profitability provides a counterbalance. The broader real estate sector in Vietnam has been recovering gradually, with policy support and easing credit conditions.

Strategic Significance

Shark Hung’s resignation removes a well-known figure from CRE’s board, potentially affecting the company’s public profile and investor confidence. However, Hung’s clarification that his personal ventures are unrelated to CRE suggests the company’s operations and strategy remain unchanged. The doubling of pre-tax profit in 2025 indicates operational improvements that could support the stock’s valuation. For long-term investors, the key question is whether CRE can sustain its margin recovery without Hung’s involvement and whether the board will seek a replacement with complementary expertise.

What to Watch

• Shareholder vote on the resignation at the AGM on May 22, 2026.
• Any announcement of a successor board member or changes to board composition.
• CRE’s Q1 2026 earnings release to assess whether profit momentum continues.
• Market reaction and trading volume in CRE shares around the AGM date.
• Any further statements from Hung or CRE regarding his future involvement with the company.