On April 16, An Phat Plastic and Green Environment JSC (An Phat Plastic – Hose: AAA) successfully organized the 2019 annual shareholder meeting at the company’s head office – Lot CN11 + CN12, An Dong industrial cluster, TT Nam Sach, Hai Duong.
The meeting summarized the activities in 2018 and approved the 2019 business plan, as well as the contents in proposals and reports related to the activities and operation of the Company
2018 revenue reached VND 8,011 billion, exceeding VND 2,000 billion compared to the plan of 2018 General Meeting of Shareholders. AAA aims to reach VND 6,000 billion in revenue and VND 330 billion in profit. Business results, in 2018, the company achieved VND 8,011 billion in revenue, exceeding 33.51% of the year plan. Profit after tax of 180 billion VND reached 54.55% compared to the plan.
Revenue in 2018 grew strongly and surpassed the main target of expanding production and business activities, trade activities were strengthened, boosting market dominance with the increase of operating capacity of the two Packaging factory: Factory No. 6 and No. 7, factory producing Calbest and stone powder.
However, the target of profit after tax decreased compared to the same period last year and temporarily did not meet the business plan. The reason is that a number of important commercial contracts with domestic partners have been implemented slowly compared to the set plan and must be postponed to 2019, the second reason is that AAA strengthens the search for new markets, so In the past year, although the price of raw materials increased, the Company did not increase the price of many products in order to maintain price stability and expand the customer network. Besides, AAA has promoted investment in a key project of An Phat High-tech Industrial Park (An Phat Complex) in 2018, so it has not been immediately generated profit.
In general, in 2018, AAA invested to create a stepping stone to prepare for a strong growth cycle in revenue and profit in 2019.
Strong growth forecast in 2019
- In 2019, AAA will reach VND 10,000 billion of consolidated revenue and VND 510 billion of consolidated after-tax profit. Expected dividend rate from 10% – 20% in cash for shareholders.
- In addition to continuing to improve production, the Company continues to upgrade comprehensively, reaching an international level in all areas of operation. Specifically: Scale: Continue to invest and complete the infrastructure of An Phat High-tech Industrial
- Park, reaching the exploitation rate of 40% for 2019. The company continues to invest in machinery, lines, and expand production at the AAA factory. Investing in the construction of a US-based factory specializing in packaging and environmentally friendly plastic products.
- Promote the development of supporting plastics industry, including factories producing architectural plastic materials, engineering plastics, bio-plastics, industrial textile packaging, etc.
- Regarding the quality of products and services: AAA focuses on producing high-tech, environmentally friendly plastic products, increasing the capacity of compostable bags AnEco and product lines in AnEco chain such as knives, spoons, forks, paper cups, iron, etc., capable of self-decomposing without polluting the environment.
- Regarding governance, the Board of Directors will continue to improve and improve the quality of internal management.
Issuing 8.5 million ESOP shares to employees
The AGM also approved a plan to issue shares under the Employee Selection Program (ESOP). Accordingly, AAA will issue a maximum of 8,500,000 ESOP shares, total issuance value of VND85 billion at the Issuing rate 4.96%.
Subjects of issuing are employees of the company in order to recognize the contribution of employees at the company, as a long-term foundation and sustainable development with the company. Issuing price is 10,000 VND / share. Total capital is expected to reach VND 85 billion, which will be used to supplement working capital for the company. These ESOP shares will be restricted for transfer within 01 year. The number of shares not registered to buy will be decided by the Board of Directors to continue offering to other employees in the company.
Change the name of the Company to An Phat Bio Plastics Joint Stock Company The AGM approved the change of the Company’s name according to the following contents:
Current business name: Vietnamese name: An Phat Plastic and Green Environment Joint Stock Company
English name: An Phat Plastic & Green Environment Joint Stock Company
Abbreviated name: AnPhat., Jsc
New name:
– Vietnamese name: An Phat Green Plastic Joint Stock Company
– English name: An Phat Bio Plastics Joint Stock Company
– Abbreviated name: An Phat Bioplastics
This name change aims to match the new development strategy of the Company to bring the most sustainable values to customers and investors .
