An Tien Industries General Shareholders’ Meeting 2021: Approves target revenue of VND 4000 billion, plan to issue 4.8 million bonus shares to existing shareholders

On 28 April, An Tien Industries Joint Stock Company (Ticker Symbol: HII) successfully held the General Shareholders’ Meeting 2021. At the meeting, the Board of Directors evaluated the efficiency of production and business activities in 2020, approving business plan in 2021 and plan to issue 4.8 million bonus shares to existing shareholders, among other important issues.

Regarding business performance in 2020, in the context of a global economic slowdown due to the Covid-19 pandemic, global trade is affected, as an exporter, HII implemented measures to adapt to the general situation, overcome difficulties by restructuring enterprises, searching for new markets, and promoting exports.

As a result, HII’s revenue reached VND 4,083 billion (~$ 173.7 million), after-tax profit reached VND 53 billion (~$ 2.2 million), completing 124% of planned revenue, 88% of planned profit in 2020. Despite the impact of the Covid-19 epidemic, the production output of two main products of the business, CaCO3 and filler, continued to increase 8% over the same period, equivalent to 103 thousand tons. However, revenue in 2020 decreased by 12% over the same period due to a sharp decline in world plastic material prices in the first half of 2020.

Năm 2021, HII đặt kế hoạch doanh thu đạt 4.000 tỷ đồng, lợi nhuận sau thuế đạt 70 tỷ đồng
In 2021, HII targets to achieve VND 4000 billion (~$ 170 million) in revenue and VND 70 billion (~$ 3 million) in profit after tax

In 2020, HII managed to saved production costs, especially the commercial segment applied a new policy of receiving goods when there are orders, reducing inventory, along boosting exports, leading to a sharp increase in profit margin. In detail, the profit margin is improved from 2.5% in 2019 to 3.7% in 2020 for the commercial segment, and from 20.1% to 22.8% in 2020 for the manufacturing segment.

Total assets as of 31/12/2020 were 1,530 billion VND, a decrease of 13% compared to the same period, mainly because HII reduced its liabilities during the year.

In 2021, HII targets to achieve revenue of VND 4,000 billion (~$ 170 million) and profit after tax of VND 70 billion (~$ 3 million), equivalent to 32% growth compares to achieved profit in 2020, payout ratio rate from 10-15% per share.

The General Shareholders’ Meeting also approved the plan to issue 4.8 million bonus shares, an implementation ratio of 100:15, to existing shareholders.

Also in 2021, HII will optimize production at the stone powder and ANCAL additives manufacturing plant, setting a consumption target of 130,000 tons of stone powder and gradually shift to biocompound environmentally friendly products that have good profit margins and high value engineering plastic compound products.

At the end of the first quarter of 2021, HII’s consolidated revenue reached VND 1,282 billion (~$ 55 million), profit after tax reached VND 29.5 billion (~$ 1.3 million), equivalent to growth of 61% and 286% compared to the same period in 2020, completing 32% and 42% of revenue and profit plan in 2021.

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