2023 Annual General Meeting of Shareholders – EMC sets a revenue target of VND 770 billion
On the morning of April 15, 2023, in Ho Chi Minh City, Thu Duc Electro Mechanical Joint Stock Company (EMC) successfully held the 2023 Annual General Meeting of Shareholders. With high consensus and consensus, the General Meeting approved all reports, presentations and many other important contents.
According to the document sent to shareholders, this meeting of EMC will discuss a number of main contents, including: Report on operating results, production and business in 2022 and orientation for 2023. Electing members Board of Directors for the new term. Some other issues related to the selection of audit units, distribution of profits, remuneration for the Board of Directors and Audit Committee, etc.
Looking back at 2022 – Focusing on investment and capacity building
Reporting at the General Meeting, Member of the Board of Directors and General Director Vo Tien Dung shared difficulties, advantages and results of 2022. In 2022, the domestic economic outlook and the electrical equipment industry in particular There are also risks to economic growth in the long run. The large reserve balance in the public sector, the difficulties of the domestic economy and the electromechanical manufacturing industry in particular, have affected the products of electromechanical equipment manufacturers such as Joint Stock Company. Thu Duc Mechatronics. However, with the collective efforts of the employees, the determination of the Board of Directors, the Board of Directors, the Company has flexibly applied appropriate production and business strategies at each time to try achieve the set business plan.
Although facing many difficulties as mentioned, but Thu Duc Electromechanical Joint Stock Company was determined to overcome, has sought and implemented many economic and technical solutions, reducing costs to offset the increased costs. . The results of the implementation of the planned targets assigned by the 2022 General Meeting of Shareholders, specifically:
- The company’s net revenue from sales and service provision reached VND763,304 million, an increase of 22.63% compared to 2021, an increase of 17.43% compared to the plan in 2022.
- The company’s profit after tax reached VND 552 million, down 79.47% compared to 2021, down 77% compared to the 2022 plan.
In 2022, after-tax profit will reach 23% of the plan set by the 2022 Annual General Meeting of Shareholders; down 79% compared to 2021. In general, the Company completed the revenue plan set out by the 2022 Annual General Meeting of Shareholders. The reason for the low profit is that the cost of raw materials, selling expenses, and administrative expenses increased compared to 2021. Therefore, profit after tax in 2022- reached 555 million dong.
2023 – EMC sets a revenue target of VND 770 billion
In 2023 and the following years, the Company will continue to implement an investment program to improve the production capacity of transmission transformers up to 220kV, with a vision to 500kV. Research and invest in new production premises in line with development orientations, planning and long-term stability; invest in equipment in the direction of advanced modern technology to increase competitiveness.
In the production and business plan for 2023, EMC sets a target of at least VND 770 billion in sales and service provision. Target accounting profit before tax is expected to reach 3.5 billion dong.
Member of the Board of Directors for the term of 2023 – 2028
100% of the shareholders attending the meeting (12 shareholders and their proxy, holding shares equivalent to 95% of the total number of voting shares) voted to approve the meeting agenda, working regulations and voting rules. decide to elect members of the Board of Directors of the General Meeting. The meeting elected 5 members of the Board of Directors:
- Mr. Nguyen Van Hang – Member of the Board of Directors.
- Mr. Vo Tien Dung – Member of the Board of Directors.
- Mr. Ho Dac Ngoc – Independent member.
- Mr. Hoang Minh Bach – Member of the Board of Directors.
- Mr. Nguyen Van Tho – Independent member.
Finally, the Resolution of the Annual General Meeting of Shareholders 2023 was approved. The Board of Directors is responsible for directing and supervising the Executive Board to organize the implementation of the contents of the Resolution in accordance with the provisions of the Charter on organization and operation of Thu Duc M&E Joint Stock Company and current laws.
