On March 20th, 2020 – Today, An Tien Industries JSC (Ticker: HII) successfully organized the 2020 Annual Shareholder Meeting in at its headquarters – Southern Industrial Park, Van Tien Commune, Yen Bai City, Yen Bai province.
The meeting summarized its business performance in 2019, approved the 2020 business plan and direction as well as reports related to the company’s management and operation activities.
Approving An Phat Bioplastics Joint Stock Company (An Phat Bioplastics – Ticker: AAA) for increasing its ownership to 65% with no public tender offer
The meeting approved An Phat Xanh Plastic JSC for increasing its ownership to 65% without requiring a public tender process.
AAA currently owns 51% of HII, equivalent to 51% of the company’s equity. In the long-term development plan, AAA continues to joint hands with HII to develop business and maintain its position as the No. 1 enterprise in Southeast Asia in terms of film packaging production.
Particularly, AAA purchases additional shares from existing shareholders of HII with no public tender offer.
2019 revenue reached VND 4,632 billion, exceeding nearly VND 1,700 billion of the original plan
In the 2019 Annual Shareholder Meeting, HII aimed to achieve VND 3,000 billion in consolidated revenue and VND 70 billion in profit. Regarding business results in 2019, HII reached VND 4,632 billion in revenue, exceeding 54.4% of the set plan; profit after tax earned VND 54 billion, reaching 77.14% compared to the set plan.
In 2019, HII had the dividend payout ratio of 15%
The 2019 revenue considerably grew exceeding the set plan mainly thanks to its current manufacturing segment with a high gross profit margin, and the reduced revenue from the commercial segment, with a very low gross profit margin.
At present, HII is producing stone powder and plastic fillers (70% exported to foreign markets, to about 62 countries, accounting for nearly 20% of Vietnam’s total export of plastic fillers), ranked among the top 2 in Vietnam with continuous revenue growth.
Estimated strong growth in 2020
By 2020, HII will achieve VND 3,300 billion of consolidated revenue and VND 60 billion consolidated profit after tax, increasing by 11% compared to 2019. In response to shareholders about these figures, Chairman of HII, Mr. Dinh Xuan Cuong said that the total profit has an expected growth of 11% but in 2019 HII had a financial profit of VND 18 billion, so the actual profit in 2020 is estimated to increase by 67% compared to 2019. The dividend rate is around from 10% to 15%.
Besides its continuous effort for investment activities, productivity improvement, HII plans to increase its core earnings, details as below:
– Scale: Continue to invest in machines, production lines, expand manufacturing activities.
– Production orientation: Focus on gradually promoting the product quality. The company will produce engineering plastic materials (compound), starting from low-end products, then deploying a joint venture to make intermediate and almost-premium ones. Half of these products will be provided to An Phat Holdings (HII is a subsidiary of An Phat Holdings), another half will be sold on the market.
– Regarding its administration, Board of Directors will keep improving the quality of its internal governance.
In addition, the meeting also passed the decisions proposed by B.O.D, dismissing a member of B.O.D, Mr. Nguyen Huu Long, electing Mr. Nguyen Trung Kien as a new member of B.O.D.
HII Annual General Meeting was successfully organized!
