On April 27, 2021, Hanoi Plastics Joint Stock Company (HoSE: NHH) successfully held the 2021 Annual General Shareholders’ Meeting, approving many important issues, including assessing the efficiency of production and business activities in 2020 and revenue plan in 2021 of VND 1,900 billion (~$ 80 million).
In 2020, the socio-economic situation faces many difficulties when the Covid-19 epidemic is complicated, NHH has implemented many suitable solutions to optimize costs, enhance production and business activities, therefore, the company still achieved positive results. In 2020, NHH achieved total revenue of VND 1,150 billion (~$ 49 million), profit after tax reached VND 112 billion (~$ 4.7 million).
Besides, NHH still maintains bussiness relationships with major partners, attracts and develops new bussiness relationships, opening up prospects for cooperation with domestic and foreign businesses.
In 2020, NHH will focus its resources on investing in machinery and equipment for production, contributing capital to subsidiaries, and developing new products. In which, Viexim Co., LTD is following NHH model, and highly appreciated by foreign partners while continuing to develop production for neighboring partners. An Trung Industries focuses on developing FDI customers in electrical equipment, electronics and telecommunications. Especially in 2020, An Trung Industries is selected by Foxconn to deploy a number of products. In 2021, this project will go into stable operation, bringing economic efficiency to the company. VMC has now met the diverse needs of customers from cars and motorcycles to printers, computers, and home appliances such as televisions and telephones.
In 2021, NHH set a target revenue of VND 1,900 billion VND (~$ 80 million), profit after tax of VND 150 billion (~$ 6 million), dividend payout ratio is 10%. In particular, NHH continues to promote the company’s strengths in manufacturing plastic molds and industrial products, focusing on Japanese customers, FDI enterprises, and maintaining existing customers in the automobile – motorcycle, electricity – electronics industry. Also, NHH will strengthen the promotion of products and capabilities, review old equipment to evaluate and replace old equipment in the direction of advanced, modern, high quality to meet market demand. Besides, the company will consolidate and improve the quality of governance, review all activities to optimize costs, enhance the design, manufacture and repair of molds to reduce finishing, improve production, and product quality from the stage of product development in order to achieve competitive price targets and still achieve efficiency…
The meeting also approved: Activities of the Board of Supervisors in 2020, plan for after-tax profit distribution, the selection of enterprises providing the financial statement audit services in 2021, the Investment and lending to the parent company and subsidiaries, the dismissal of members of the Board of Directors with Mr. Lim Heon Young, the election of additional members of the Board of Directors for the third term (2019-2024).