In the afternoon of December 8th, 2021, Hanoi Plastic Joint Stock Company (HPC) (Hose: NHH) successfully organized an Extraordinary General Meeting of Shareholders 2021 to approve the plan of preferred stocks offering for existing shareholders.
Mr. Bui Minh Hai – Chairman of the Board of Directors of Hanoi Plastics Joint Stock Company speaks at the meeting
NHH will offer 36,44 million shares for existing shareholders with the selling price is VND 15.000/share ($0.65/share). As a result, the company will be able to generate approximately VND 546,6 billion (~ $23.68 million) and will use the capital to boost investment for the architectural plastic building materials and mold segment, which recently brought the outstanding interest and profit for NHH. According to the most recent finance report of the company, the issue price is determined by 104,10% of NHH’s book value and by 35,67% of NHH’s shares value being trade on the market.Following to the proposed plan, NHH will utilize the raised capital to completely contribute and concentrate on An Cuong High-tech Building Materials Joint Stock Company. With high-tech interior finishing products of the brand name AnPro including floor, PVC Wall Panels, 3D Wall Panel, ceilings, and decorative molding, these products have received many positive feedbacks and great results from customers on the international market. Despite of the high increase of transportation costs, revenue of NHH from high-tech architectural plastic building materials segment is the most prominent point in 2021.
NHH Extraordinary General Meeting of Shareholders has approved the plan of preferred stocks offering for existing shareholders
In the last 3 quarters, the general profit margin of NHH has increased significantly, rising by 14.6% in the first quarter, 15.7% in the second quarter and 20% in the third quarter. Architectural plastic segment has contributed mainly to the overall results of the business because of its high profit margin. In addition, accumulated in the first 9 months of 2021, NHH’s consolidated revenue reached VND 1,515 billion (~ $65.65 million), a growth of 103% over the same period in 2020 and consolidated profit reached VND 57 billion (~ $2.47 million), an increase of 67% over the same period.
NHH is currently focusing on exporting high-tech interior plastic products to the international market, with the United State serving as the primary export. At the same time, NHH is developing the new product lines such as floor models, wood grain panels, stone textures, and carpet patterns in order to catch up with the trend of finishing projects in early 2022.
Furthermore, NHH orients An Cuong High-tech Building Materials JSC to become the leading brand in the Vietnamese market in the field of environmentally friendly materials ạnd safe for health in order to protect resources and life living.
Besides, the precise mold segment also recorded the positive points when commencing to utilize a series of new machines from reliable brands including Yasda, Makino, Fanuc…
In this NHH Shareholders’ General Meeting, the Boards of Directors also approved An Phat Bioplastic Joint Stock Company (Hose: AAA) to own up to 45% of voting shares of Hanoi Plastic JSC without offering shares in public in accordance with the current law.