Find good plastic products: AAA ‘assets’ are interested in by investors

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The price of input plastic beads on the trend of falling oil price is a supporting factor for the profits of enterprises in the plastic industry. The position of enterprises will be better than the period of 2017 – 2018. Seizing this opportunity well , along with a sustainable growth strategy throughout, An Phat Bioplastics JSC (AAA) is becoming an “asset” of investors’ interest.

Positive business results

In the third quarter of 2019, AAA’s business results grew sharply over the same period last year. Specifically, net revenue reached VND 2,364 billion, up 8%, profit before tax reached VND 86 billion, up 49% compared to the same period in 2018.

In the third quarter, all production, trade and industrial zones grew over the same period. Profit before tax increased by 49% in the third quarter, thanks to the phenomenal growth of the manufacturing segment.

Accumulated 9 months, AAA reached VND 7,406 billion revenue and VND 520 billion profit before tax, up by 28% and 174% over the same period. Due to the contribution of the industrial zone segment in three quarters of 2019 and the strong growth of the manufacturing segment, AAA’s profit before tax increased by 2 times compared to the whole of 2018. In particular, core profit contributed about 50% of AAA’s profit before tax, up 35% over the same period in 2018. Compared to the business plan for the whole year 2019, the company now fulfills 74% of the revenue plan and 85% of the profit after tax plan.

This positive result was due to AAA’s shift in market structure and products.

Specifically, the company promotes market development to the US and Japan. Recent meetings such as the meeting with the Governor and Nebraska State Mission, the US and the Governor and the delegation of Kagoshima Province, Japan have shown quite clearly the strategy of AAA’s market expansion.

In addition, the company’s push towards 100% compostable products and increasing factories’ capacity have helped improve margins. AAA’s 100% compostable products now contribute to 10% of export sales.

Bright growth prospects

Plastic industry is expected to grow 6.5% in the period of 2019 – 2024. In Vietnam, the plastic industry is divided into 4 areas, including packaging, household appliances, construction and engineering. In terms of value scale, plastic packaging accounted for the largest proportion with 37%, construction accounted for about 18% of the industry value.

In the field of construction plastic, Binh Minh Plastic JSC (BMP), Tien Phong Plastic JSC (NTP) are the two leading companies listed on HOSE and currently trading at P/E valuation are 10,3 and 10,12 times. The growth capacity of these businesses in the past 5 years was only 2.9% and 2.7%/ year, and the growth potential in the future, according to SBSI, is only about 3% – 4%.

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Meanwhile, AAA’s profit has grown at a compound annual growth rate (CAGR) of 21% per year for the past 5 years and is expected to increase by an average of 10% – 15% in the next 5 years.

Assuming BMP and NTP are priced at a reasonable level corresponding to the growth potential, with the high growth rate of AAA, SBSI expects a reasonable price of AAA of 36,100 dong/ share. However, at present, the price of AAA shares is trading around VND 15,350/ share, which is not true compared to its capacity.

Based on the stable operation of factories and the first 9 months’ output, SBSI forecasts that AAA’s production output in 2019 will reach 95,000 tons, equivalent to an increase of 10% compared to the previous year. The policy of moving products to markets outside Europe such as the US and Japan will help AAA maintain maximum output as well as reduce dependence on a market, ensuring a stable growth prospect.

Notably, according to the Plastics Association, Vietnam imports 80% of plastic materials for domestic production. Therefore, the import market of plastic resins is quite wide for businesses to operate.

An Thanh Bicsol JSC, a member company of An Phat Holdings, is currently one of the largest plastic resin importers in the country. With a large market share of plastic resins, combining advantages when having a contract of product consumption, An Thanh’s commercial revenue is expected to reach over VND 3,600 billion/ year and profit after tax is estimated at VND 50 billion/ year.

Quickly catching up with the trend of using self-destructing plastic products, AAA has invested methodically in the past. Currently, 100% compostable products are accounting for 10% of the product structure and are expected to increase sharply in the near future, when An Phat Holdings introduces the compostable material production line (PBAT) in action.

The PBAT project, after being put into operation, will help cut down about 30% of AAA’s production costs compared to the present. In addition, AAA will be proactive in sourcing raw materials, improving inventory turnover and increasing gross profit margin of production.

An Tien Industries’ employees actively raise the awareness of occupational safety and health

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04
Nov

Last week, An Tien Industries Joint Stock Company (HII) organized a training course on occupational safety and health (OSH) for all of its employees.
Within just 2 days, all of the employees have been tested and trained on occupational safety at area I:
• Thoroughly grasping the purpose and meaning of occupational safety and health; legal provisions on occupational safety and health such as rights and obligations of employers and employees.
• Labor protection policies and regimes; general knowledge training on occupational safety and health; requirements on labor safety and health at the workplace; requirements on labor safety and hygiene when performing tasks.
• Ways of handling situations and first-aid methods for victims when working.
In particular, HII also collaborated with Regional Occupational Safety Training Center to conduct field surveys withing the company, incorporating the curriculum with factors that may cause labor insecurity during the production process.
Through this training course, all of the employees have been raising the awareness and understanding of the importance of occupational safety and health to themselves, their families and the community. At the end of the training, all trainees took a post-training condition test, all of them responded enthusiastically and achieved good results.

An Tien Industries organized meaningful activities to celebrate Vietnamese Women’s Day – October 20th

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21
Oct

On the occasion of the 89th anniversary on the Establishment of Vietnam Women’s Union (October 20, 1930 – October 20, 2019), the Trade Union of An Tien Industries Joint Stock Company (HII) organized a sharing meeting to motivate its female staff.
This activity created motivation among employees, contributing to the improvements of business results in the fourth quarter, completing the company’s production and business plan in 2019.

An Tien Industries Joint Stock Company (HII) organized a sharing and encouraging meeting for female staff of various departments.

Up to present, An Tien Industries has 107 female staff, equivalent to 37.5% of the total company employees. Especially, there are female staff who have been working for the company for nearly a decade. Although people in the Northwest region have still been facing a lot of difficulties, no matter what position women take, they perform their jobs well, making an important contribution to the 10-year overall development of An Tien Industries.
On behalf of the Board of Directors of An Tien Industries, Mr. Nguyen Viet Dung – Deputy General Director would like to send his best wishes to all female staff and their families, wish them good accomplishment, happiness and beauty.
Ms. Ha Thi Anh Dao, QC staff, on behalf of female staff, expressing thanks to Board of Directors and male staff, promising to try their best to deserve as Vietnamese traditional women.

Mr. Nguyen Viet Dung – Deputy General Director of An Tien Industries congratulated all female staff

Ms. Ha Thi Anh Dao, QC staff, on behalf of female staff, expressing thanks to Board of Directors and male staff, promising to try their best to deserve as Vietnamese traditional women.

In addition, to enhance solidarity within the company, to show the beauty of female staff, and to develop the culture of An Phat Holdings, An Tien Industries also organized a photo contest exclusively for female staff on the company’s fanpage. The contest lasts until the end of October 20. The female staff with the most interactive photo will receive a special reward on October 21. The contest has attracted a lot of attention inside and outside the company.

An Phat Holdings expands opportunities to cooperate with Japanese partners

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18
Oct

Governor of Kagoshima province, Japan, Mr. Satoshi Mitazono, together with 22 officials and journalists has just paid a visit to An Phat Bioplastics Joint Stock Company (An Phat Bioplastics) – a member of An Phat Holdings.

Kagoshima is a province with a lot of trading activities, manpower development, and economic cooperation with Vietnam. The province has received a large number of trainees and workers from Vietnam as well as having a close cooperation with Vietnam in the field of high-tech agriculture.

Mr. Pham Anh Duong, Chairman of An Phat Holdings introduced An Phat Holdings and shared the investment opportunities between the two parties.

With the strength of producing high-tech, environmentally friendly plastic in Southeast Asia, An Phat Holdings has exported its products to more than 50 countries worldwide, including markets that require high quality standards such as Japan, USA, EU …

In Japanese market only, An Phat Holdings has supplied it with thousands of tons of thin-film packaging, accounting for 32% of export revenue, ranking the second among An Phat Holdings’ export markets.

In addition, An Phat Holdings has maintained a sustainable cooperation with some Japanese big corporations such as Honda and Toyota in the supporting industry.

Mr. Pham Anh Duong, Chairman of An Phat Holdings, said that Kagoshima is a coastal province and An Phat Bioplastics currently produces 100% bio compostable and environmentally friendly fishing nets.

The product is being recommended by a number of countries around the world. “”We hope that this product, along with other bio compostable products of An Phat Bioplastics such as bags, knives, spoons, forks, agricultural films … will reach the people of Kagoshima province,”” he said.

An Phat Bioplastics stopped the ESOP program

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16
Oct
On October 15th, Board of Directors of An Phat Bioplasticcs Joint Stock Company (HOSE code: AAA) issued a Resolution on Stopping Employee Stock Ownership Plan (ESOP).
Previously, AAA’s Board of Directors approved the plan of issuing shares under the ESOP program, corresponding to issuing a maximum of 8.5 million shares at the price of VND 10,000 / share in accordance with Resolution of 2019 Annual General Meeting of Shareholders on April 16.
Up to now, AAA’s Board of Directors have decided to stop this ESOP program, then the company will report and present the cancellation of ESOP issuance plan at the nearest General Meeting of Shareholders.

“The ESOP program was approved at 2019 General Meeting of Shareholders, but after considering the actual situation, taking into account the long-standing benefits of shareholders, AAA Board of Directors decided to stop the 2019 ESOP program and cancel this at the General Meeting of Shareholders in 2020”– added AAA representative
In addition, Ho Chi Minh City Stock Exchange also forecast that AAA’s net revenue and profit after tax in 2019 will be VND 9,884 billion and VND 501 billion, increasing by 12% and 25% respectively compared to 2018. Based on these profit estimates and the current number of shares (due to no increase in ESOP stocks), AAA’s EPS can be reached at VND2,930 / share. According to the report of Ho Chi Minh City Stock Exchange (HOSE: HCM), on July 7, estimating that AAA’s after-tax profit in the 2019 third quarter will reach around VND 55-65 billion, correspondingly increasing by from14.5% to 35.4% compared to the same period last year.
In early October, An Phat Holdings (APH) registered to buy all 4,000 AAA warrants issued in 2018 to increase its ownership in AAA from 46.62% to 54.54% from October 17 to November 15.

300 elementary students “Draw a green future” with An Phat Holdings

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08
Oct
From September 27 to October 4, 2019, An Phat Holdings in cooperation with My Dinh I Primary School (Hanoi) organized a drawing contest entitled “Drawing a Green Future”.
The competition received more than 300 diverse and impressive works of elementary school students. The authors of these paintings surprised the organizers because of their understanding and responsibility when expressing creative ideas to protect the green planet, human life, as well as the environment.

Some children also showed their concern about the alarming situation the environment pollution and the plastic waste problem as well.
The works of “Draw a green future” were expressed with a variety of colorful materials such as pencils, pigments, crayons, oil paints, watercolors, etc. through the clever, creative hands of little artists.
An Phat Holdings’ representative said: “We hope that, by this contest, we can spread environmental protection messages to our future generations. Children play an important part in developing a green Vietnam in the future.”
The final contest results of “Draw a green future” will be announced on October 10, 2019.
Some impressive paintings made by students of My Dinh I Primary School:

An Phat Open Football Cup 2019 was a great success

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06
Oct
An Phat Open Football Cup 2019 was successfully organized to celebrate 17th anniversary of An Phat Holdings’ establishment and development. This year, there were 14 football teams of member companies, together with 07 guest teams.
With careful preparation, the football teams joined the matches with the spirit of solidarity, playing hard, creating vibrant matches, making fans emotionally engaged with all teams.

After all rounds, Taseco team won the championship of the An Phat Open Footaball Cup 2019. The expected final match ended with a score of 1 – 0 in favor of Taseco. Although Viexim team competed tremendously, luckiness was not for Viexim this year.
In summary:
CHAMPION: TASECO
Table A:
+ First Prize: VIEXIM
+ Second Prize: WAREHOUSING
+ Third Prize: FACTORY 6
Table B:
+ First Prize: TASECO
+ Second Prize: HAI DUONG UNIVERSITY
+ Third Prize: BIDV SGD1 – VIETINBANK HAI DUONG IZ
Congratulations to all teams!

An Tien Industries JSC – 10 years of development

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01
Oct

Over 10 years of establishment and development, An Tien Industries Joint Stock Company has marked a milestone of continuous effort to reach the goal of becoming the leading plastic additives producer in Southeast Asia and the dominant manufacturer of engineering plastic and environmental friendly plastic materials in Vietnam.

On October 1, 2019, An Tien Industries Joint Stock Company celebrated its 10th anniversary. The participants included Ms. Nguyen Thi Tien – Deputy General Director in charge of Internal Affairs of An Phat Holdings, Mr. Vu Thanh Binh – Chairman of Board of Directors of An Cuong Building Materials JSC, Mr. Doan Minh Duc – Sales Deputy General Director of An Phat Holdings, General Director of An Tien Industries Joint Stock Company, Mr. Nguyen Viet Dung – Deputy General Director of An Tien Industries Joint Stock Company and representatives of other departments.

At the ceremony, Ms. Nguyen Thi Tien thanked all employees for their dedication and effort, wishing the company further success.

10-year establishment anniversary of An Tien Industries

10 years ago, in the second half of 2009, An Phat – Yen Bai Mineral and Plastic Joint Stock Company, a subsidiary of An Phat Holdings, was established in the southern industrial park, Van Tien commune, Yen Bai, Yen Bai province. In 2018, An Phat – Yen Bai Mineral and Plastic Joint Stock Company was renamed An Tien Industries Joint Stock Company.
Over the years, An Tien Industries has built and effectively put two large factories into operation. These include a plastic additive factory inaugurated in 2010, with an area of 8,400 m2, with a capacity of 10,000 tons / month and a Caco3 stone powder factory inaugurated in 2017, with an area of 19,000 m2, with a capacity of 8,000 tons / month.

An Tien Industries’ factories

With the strong management skills of Board of Directors and high working spirit of nearly 300 employees, over the past 10 years, An Tien Industries JSC has become a partner of large enterprises in Russia, Arabic, Indian, Indonesian, Brazilian, etc.
Since June 2017, An Tien Industries has officially listed HII shares on HOSE stock with the charter capital of VND 278.5 billion.
In the first 6 months of 2019, the company achieved about 2,500 billion VND in revenue, completing 85% of the revenue plan, contributing 3.4 billion VND to the government budget.

Mr. Doan Minh Duc – Deputy General Director of An Tien Industries Joint Stock Company shared the upcoming direction of the business: “We will develop An Tien into a company manufacturing plastic additive materials (plastic fillers, plastic additives, stone powder) in Southeast Asia, becoming the leading manufacturer of engineering plastic and environmental friendly plastic materials in Vietnam. In addition, An Tien also aims to become a large corporation while balancing the interests among customers, employees and social responsibilities.”

Not only focusing on increasing labor productivity, achieving high efficiency work results, An Tien Industries JSC also actively participates in voluntary activities such as taking care of 5 Heroic Vietnamese Mother, donating 200 million VND to Yen Bai province’s fund for the poor in 2018, making donations to help overcome consequences of floods, landslides in Mu Cang Chai district in 2016 and Van Yen district in 2018, etc.
10 years of establishment and development is considered as a firm foundation for An Tien Industries Joint Stock Company to overcome challenges in the market, becoming a strong enterprise in the field of plastic additives domestically and internationally.

 

An Tien Industries assures the work of Fire Prevention and Fighting and Rescue

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30
Sep

The work of fire prevention and fighting and rescue has always been paid special attention by An Tien Industries JSC.

On the morning of September 30, 2019, Yen Bai Police Department of Fire Prevention and Fighting and Rescue (PDFPFR) and An Tien Industries JSC conducted an inspection to record the company’s current situation of fire prevention and fighting and rescue.
Through the inspection, An Tien Industries has fully implemented legal procedures and equipped its factory and workplace with full devices for fire fighting and rescue activities, all of its employees are professionally trained and ready for any situations.
During 10 years of establishment and development, An Tien Industries has always cared about the work of fire prevention and fighting and rescue. Before the construction work, the technical design project was approved by related departments. During the operation, An Tien Industries has always complied with regulations, trainings, instructions and periodic inspections to ensure a stable ready system to minimize any possible damage.
Previously, on August 30, 2019, the Directive for the implementation of Safety, Fire Protection and Fighting was issued by An Phat Holdings’ Board of Directors. Accordingly, Board of Directors of subsidiaries will review the procedures of safety, fire protection and environmental work to draft and issue necessary regulations timely. Conduct trainings and propaganda to raise awareness, responsibilities and skills among staff on safety and fire protection and fighting regulations. Notice and implement effectively the rules and regulations. Deploy prevention methods, regularly organize inspections, timely review and evaluate fire protection and fighting and rescue activities. Those violating the regulations on fire protection and fighting and rescue will be disciplined as prescribed by the law.
Some photos of the events:

 

An Tien Industries received a certificate of merit from Department of Taxation of Yen Bai

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18
Sep

On the morning of September 18, 2019, Department of Taxation of Yen Bai held a conference on “Commending taxpayers with good implementation of tax laws and policies in 2018” in the province. An Tien Industries Joint Stock Company – a subsidiary of An Phat Holdings was honored to be awarded a Certificate of Merit for its achievements in cooperation with tax authorities in implementing the government budget collection in 2018.
The participants included Mr. Ta Van Long – Permanent Vice Chairman of Yen Bai Provincial People’s Committee, Mr. Nong Xuan Hung – Director of Department of Taxation of Yen Bai and representatives of more than 1,000 businesses in Yen Bai.

Mr. Ta Van Long acknowledged the results that the tax sector, organizations, households and individual taxpayers have made many contributions to the provincial and national budgets over the years.
An Tien Industries is one of the leading enterprises in Yen Bai province. In 2018, An Tien Industries has contributed about VND 10.5 billion to the government budget, creating jobs for more than 300 local workers.

In order to successfully fulfil the budget collection task in the coming time, Mr. Ta Van Long proposed that all levels and branches continue to implement systematically, drastically and effectively solutions to the economic – social development matter, improve the business investment environment, promote investment attraction, actively remove difficulties and obstacles for enterprises to increase production create sustainable revenue streams; improve the quality of tax administration, proactively review and manage all subjects related to tax declaration and payment according to the provisions of law.
In addition, it is necessary to step up the reform of tax administrative procedures associated with effective implementation of online tax declaration and payment; strengthening the inspection and post-tax checking, effectively implementing measures to enforce tax debt and tax exemption, reduction and extension; strictly managing the use of land from the planning stage, making cadastral records, developing land funds, land transferring to promptly perform the budget collection.