An Phat Plastic (AAA): AAA successfully organized the 2019 annual shareholder meeting

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16
Apr

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 .

An Phat Plastic (AAA): Toyota Vietnam highly appreciates the improvement and innovation of An Phat at Hanoi Plastic Joint Stock Company

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04
Apr

On April 4, 2019, President of Toyota Vietnam, Mr. Toru Kinoshita and other managements such as Finance Director, Purchasing Director … paid a working visit to Ha Noi Plastic Joint Stock Company (HPC), a member of An Phat Holdings.

Senior management representative of An Phat Holdings and all HPC’s BoD were attended and welcome Toyota Vietnam leaders. The visit and work of Toyota Vietnam’s delegates was a part of supporting program on management and production organization since 2018 for HPC. Under this program, HPC has carried out Dandori (quick mold installation) and Tei-Tei (arranging production on a continuous machine according to plastic type and keep rotating the same principles base on Toyota’s global production principles) to organize scientific production and reduce production costs to the level the shortest.

Currently, Toyota Vietnam is one of HPC’s largest customers.

At the meeting today, the representative of An Phat Holdings and HPC presented the improvements that HPC has applied under the program as well as achievements in production and organizational management.


Mr. Toru Kinoshita highly appreciated the efforts and innovation of all HPC employees. Mr. Kinoshita said that during this visit, he saw clearly the positive changes of HPC compared to 1 year ago, thanks to the spirit of changing and the serious investment of An Phat Holdings since officially owned HPC as a member company.

Representative of HPC, Chairman Bui Minh Hai committed to maintain and further improve to match with Toyota target so that 2 companies can speed up the localization strategy.
Toyota Vietnam and HPC have good cooperation during last decade
–  2010, the number of product was only 01 part.
– 2018, the number of product increased impressively to 30 parts.
– 2019, forecast numbers still continue to increase with strong intention from An Phat Holdings and plastic supporting industry

Certainly, with the new orientation of An Phat Holdings, Hanoi Plastic will have more achievements in meeting the increasing requirements of Toyota Vietnam in particular and other customers in general.

AN PHAT PLASTIC (AAA): ANNOUNCEMENT ON 2019 ANNUAL SHAREHOLDERS’ MEETING

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To: Shareholder!

An Phat Plastic and Green Environment Joint Stock Company (Head office – Lot CN11 + CN12, An Dong Industrial Park, Nam Sach Town, Nam Sach District, Hai Duong Province; Business registration No. 0800373586 26th issued by Hai Duong Department of Planning and Investment dated  September 24th 2018; Ticker: AAA) would like to invite Shareholder to attend 2019 Annual Shareholders’ General Meeting (AGM), details of the AGM are as follows:

  1. Time: 8:00 am, Tuesday, 16th April 2019
  2. Venue: Head Office of the Company

Lot CN11 + CN12, An Dong Industrial Park, Nam Sach Town, Nam Sach District, Hai Duong Province.

Please Click here to check full Meeting Invitation.

Documents for the meeting please download here.

US Embassy lauds An Phat Holdings for new factory in US

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31
Jan

The environmentally-friendly packaging factory of An Phat Holdings JSC is expected to be put into operation in the first quarter of 2020 to deliver products to the northern US area. 

On January 31, 2019, An Phat Holdings JSC (code: APH) received the high-level delegation of the US Embassy in Vietnam, including Eric Hsu (commercial counsellor), Ton That Tuan, and Tuyet Tress, visiting An Phat Plastic and Green Environment JSC (An Phat Plastic), a subsidiary producing plastic thin film packaging. 

APH has been strengthening business and affairs in the US recently. Accordingly, APH will develop a factory to produce environmentally-friendly packaging in the country, namely An Phat USA. The factory is expected to be put into operation in the first quarter of 2020 and deliver products around the northern US first. 

An Phat Plastic welcoming the US Embassy delegation
An Phat Plastic welcoming the US Embassy delegation

The products of An Phat US contain biodegradable microcomputer bags, PE bags, and other environment-friendly plastic items. The factory will apply high-technology, synchronous automation, and optimise capacity through 300 modern machines. 

This move is part of the strategy of expanding and developing APH’s global market, as well as show the group’s determination to become a leading group of high-quality and environmentally friendly plastic products in Southeast Asia. 

An Phat Plastic's chairman Pham Anh Duong introducing some of the company's products
An Phat Plastic’s chairman Pham Anh Duong introducing some of the company’s products

APH’s plastic thin film packaging is now present in more than 100 countries and regions over the world, including fastidious and demanding markets like Japan, the US, and the EU. Especially, biodegradable microcomputer bag AnEco has been highly appreciated by customers over the world. Developing a new factory in the US will enable APH to approach global customers with environmentally friendly and affordable products. 

Also during the visit to An Phat Plastic, Eric Hsu, commercial counsellor, and Pham Anh Duong, chairman of APH, discussed the business opportunities of APH in US. Eric Hsu highlighted APH’s efforts in developing its business network across international markets, particularly in the US, which will strengthen trade exchange and the socioeconomic development of the two countries. 

Eric Hsu reviewing some products of An Phat Plastic
Eric Hsu reviewing some products of An Phat Plastic

APH is a leading company in the field of advanced technology and environmentally friendly plastic production in Southeast Asia. With 11 member companies, two of which have been listed on the stock market in Vietnam, focusing on the sectors of environment-friendly plastic bags, high-tech plastic resin, chemical and plastic additives, polyester fibre, and plastic inputs, the company set the target of $1 billion in revenue by 2025. 

Along with the world trend to shift the consumption of high-tech plastic products to replace normal ones, APH has poured so much into R&D and upgraded machines to produce environmentally friendly products. AnEco has achieved numerous international certificates for its “clean” and “green” products. 

The company is also planning to develop a self-destructive fork and knife manufacturing factory in Vietnam, contributing to protecting the environment and the Earth. 

AN PHAT PLASTIC (AAA): LETTER 2019 FROM CHAIRMAN

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29
Dec

Dear Our Valued Shareholders and Investors,

As 2018 comes to a close, first and foremost, we would like to send best wishes and our sincere thanks to you, our valued shareholders and investors who have been greatly supporting AAA for the past year.

The year of 2018 saw numerous changes in the global politics and economy with countries increasing protectionism, the China – US trade dispute, and the unpredictable fluctuations of oil prices resulting in significant difficulties to companies in plastic industry. Meanwhile the Board of Management and our employees did make substantial progress in reaching the business plan set by General Meeting of Shareholders, which were:

– The consolidated revenue for 2018 is expected to reach VND 7,000 billion, exceeding the plan by 17%. Specifically, the revenue of packaging segment has risen by 40% compared to 2017’s due to Factory No. 6 and 7 operating at nearly full capacity. Our market share in the European and Japanese market has remained stable while exports to the USA is on the increase.

– Net profit for 2018 is expected to reach VND 200 billion, accounting for 60.6% of our business plan. The earnings results fell behind our plan because: 1) to ramp up utilization rate of Factory 6 and 7 that just came into operation in 2H17, we maintained stable selling price despite fluctuations in raw material prices; 2) the resin offtake contract with domestic producers was behind schedule.

2019 is likely to create both opportunities and challenges for us. The unpredictable movements in oil prices require us to seek for strategic suppliers to secure competitive raw material prices and to adjust sales policies in favor of short-term orders to mitigate the input price risk. On the other hand, the current global trade tension, specifically the China – US trade dispute, has enabled us to increase exports to the US market. Also FDI companies moving their manufacturing from China to Vietnam has fostered extensive opportunities for An Phat High Technology Industrial Park’s increasing occupancy rate.

In 2019, we expect to reach VND 7,900 billion of consolidated revenue and VND 510 billion of net profit (up 155% y-o-y), enabling the earnings per share (EPS) of VND 2,550 and the expected dividend rate of 10-15% for shareholders. The strong earnings growth will come from our great efforts to improve profit margins by optimizing product portfolio in packaging segment; the increasing occupancy rate of the industrial zone An Phat Complex; the higher profit margins in trading segment thanks to resin offtake contract as well as the profits contributed by recently launched the industrial packaging project, An Vinh, and the injection molding engineering plastic project, An Trung.

We hold the strong belief that backed by your trust, the significant steps we have made towards the strategic goals and the tireless efforts of our executives and employees, AAA will continue to strengthen the position in the plastic industry and improve shareholder returns in 2019 and the years to come. Once again, we would like to thank you all for your support and trust in us!

Sincerely,

                                                                                                                                                         Chairman of the Board

(Signed)

 

 

                                                                                                                                                                Pham Anh Duong

An Phat Bioplastics (AAA): Management Letter in 2019

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Dear Shareholders and Investors!

2019 is coming, we would like to send our best wishes and sincere thanks to our shareholders and investors who have supported and accompanied AAA in recent years.

In 2018, the global economy and politics was unstable, with an increase in trade protectionism, the US-China trade war kept happening, the oil prices frequently fluctuated causing many difficulties for plastic producers. In this context, Board of Directors, Board of Management and the total employees of AAA have made every effort to achieve the goals set by the General Meeting of Shareholders, specifically:

–           Consolidated revenue in 2018 was expected to reach VND 7,000 billion, exceeding 17% of the plan. In particular, revenue from packaging increased by 40% compared to 2017 thanks to the operation and increased capacity of factories 6 and 7. Export market share in Europe and Japan remained stable, along with increasing exports to the US market.

–           Profit after tax was estimated at 200 billion VND, equivalent to 60.6% of the plan. Due to the policy of stabilizing the selling price to accelerate the operation capacity of new factories for packaging, and owing to a number of delayed contracts to early 2019, the profit did not meet the proposed plan.

–           Profit after tax was estimated at 200 billion VND, equivalent to 60.6% of the plan. Due to the policy of stabilizing the selling price to accelerate the operation capacity of new factories for packaging, and owing to a number of delayed contracts to early 2019, the profit did not meet the proposed plan.

In 2019, it is expected that there will be a lot of opportunities as well as challenges for AAA, when the oil price oil is unpredictable, requiring AAA to expand the supplier network to get the competitive material sources, and continue applying the policy of signing short-term orders to minimize the risk of fluctuations in raw material prices. However, the world trade tensions, particularly the US-China trade war, also create opportunities for AAA to boost exports to the US market and the shift of FDI enterprises from China to Vietnam also brings potential opportunities to take advantage of An Phat Complex High-Tech Industrial Park.

In 2019, we expect a revenue of 7,900 billion and profit after tax of 510 billion (an increase of 155% over the same period, equivalent to 310 billion). This profit growth ensures the earnings per share (EPS) of VND 2,550 and the expected dividend of 10-15% in 2019. Strong growth in profit after tax comes from the improvement of profit margin and restructure the product portfolio of AAA, accelerate the exploitation of An Phat Complex Industrial Park, improve the net profit margin of An Thanh Biscol’s raw material trading activities and profit from An Vinh industrial packaging project and An Trung engineering plastic project.

AAA’s Board of Directors and Management believe that based on the positive foundations that it has built with the appropriate business strategy, competence, will and responsibility of the management team and employees, AAA will continue to consolidate and enhance the position in the plastic industry and strive to create higher value for shareholders in 2019 and the following years.

Sincerely yours,                                                                                                                              

Common decomposition measurement certificates

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As you know, there are a lot of products on the market now labeled with “bio compostable bags”, but it is still unclear between the concept of decomposition and decay into microplastics.
Below are the most specific concepts about the “bio compostable” standards that the world follows, and you can be assured of the quality when seeing these standards:
•    Biogradable Product institute (BPI): The product will safely decompose under the separate industrial composting conditions.
•    European Bioplastic: The product will safely decompose under the separate industrial composting conditions.
•    Vincotte OK bio based: The product is made from plants, without assuring of decomposition.
•    Vincotte OK compost: The product will safely decompose under the separate industrial composting conditions.
•    Vincotte OK compost HOME: The product will decompose under home composting.
•    Vincotte OK biodegradable SOIL: The product will decompose when buried in the ground.
•    Vincotte OK biodegradable WATER: The product will decompose in water (without assuring of decomposition under seawater).
For the final product, as in this case, a bio compostable bag, the input materials must satisfy the standards above, of which the two most widely used types of bio compostable plastics are PLA and PBAT. An Phat’s “bio compostable bags” are made from Ecovio materials of BASF and Mater-Bi – the world’s largest chemical groups from Germany, Novamont respectively.
Ecovio is a compound of both PLA-PBAT, ensuring smooth and softness. Mater-Bi, meanwhile, is primarily a PBAT resin extracted from non-GMO corn starch and vegetable oil, grown in Europe wiht conventional agricultural methods. Most importantly, both of those ingredients are certified with Vincotte OK compost HOME.
With the information above, you are assured of the quality of An Phat’s bio compostable bags, by using these bags, you have make a great contribution to the environmental protection!

Refer:

http://www.okcompost.be/en/home/

https://pure.tue.nl/ws/files/3048453/712662.pdf

https://www.basf.com/vn/vi/company/news-and-media/magazine/archive/issue-6/naturally-good-searching-for-new-bio-based-raw-materials-for-industry.html

http://materbi.com/en/use-of-renewable-resources/

http://www.okcompost.be/data/pdf-document/Doc-09e-a-Requirements-of-norm-EN-13432.pdf

An Phat Plastic (AAA): Aneco products participated in “Anti-plastic Waste Program” organized by Ministry of Natural Resources and Environment

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On 12th October, 2018, in response to the campaign “Make the world cleaner in 2018”, Ministry of Natural Resources and Environment presided over “Anti-plastic Waste Program”. On the same day, Ministry of Natural Resources and Environment held a launching ceremony and participated in the signing commitment between the Ministry and other enterprises.

In response to the campaigne “Make the World Cleaner” in 2018, the Ministry of Natural Resources and Environment has hosted “Anti-plastic Waste Program”. Ms. Nguyen Le Hang – Deputy General Director of An Phat Holdings (APH), on behalf of more than 2,500 employees made a commitment to Deputy Minister of Natural Resources and Environment in propagating and disseminating policies to encourage consumers to limit their usage of nilon bags and disposable plastic products.

 

 

AnEco bio compostable bags are made from two main materials: biodegradable materials and Eco vio granules. Thanks to features of these two materials, AnEco products, when released to the environment, will decompose by soil microorganisms within 6 months. The final decomposition substance produces water, C02 gas and compost, which is beneficial for plants and people. AnEco bio compostable bags are now exported to European countries with an output of 8000 tons / month. An Phat Holdings hopes that those products can contribute to solving environmental issues in both Vietnam and in the region. In the coming time, besides AnEco bio compostable bags, An Phat Holdings continues to research and produce bio compostable products such as knives, forks, spoons, cups … to replace products made from recycled plastic.