AsemconnectVietnam - Yen Bai Industrial Minerals Joint Stock Company (stock code YBM) has just announced the document of the Annual General Meeting of Shareholders with a business plan to grow both revenue and profit despite the difficult market.

According to the company, the socio-economic situation in the first three months of 2023 of Vietnam takes place in the context of the world economy continuing to have many complicated fluctuations and instability. Global inflation, although cooled down, remained at a high level, with a slow recovery and a decline in consumption demand of major trading partners.
The instability of some banks in the US and Europe affects people's confidence in the banking system while central banks continue to raise interest rates and use tight money policies. The world energy prices are high, the Russia-Ukraine conflict is prolonged... International organizations have different opinions on the world economic growth in 2023, but they agree on the forecast that the growth rate will be lower than 2022 from 2022. 0.5 - 1.2 percentage points.
In Vietnam, the government has stepped up to control and limit the exploitation of domestic resources, so the shortage of limestone raw materials is serious. Especially in the first quarter of 2023, the supply of limestone was scarce, and there were times when there were not enough materials to produce orders.
With the challenges of 2023 such as the sharp increase in input material prices, the USD and the high interest rates, the production and business situation is not expected to have many expectations.
In 2023, the Company focuses on stabilizing product quality, seeking new customer opportunities, new markets, maintaining stable development of the company. Yen Bai Minerals plans to produce 480 thousand tons, of which 400 thousand tons domestically and 80,000 tons internationally. Total revenue reached VND480 billion, of which VND370 billion came from domestic sales of semi-finished products, VND90 billion from international sales and VND20 billion from other commercial revenue.
In terms of profit, the company is expected to reach VND11.2 billion of profit after tax.
Compared to last year's results, the Company's revenue and profit targets for this year increased by 11.8% in revenue and 13.1% in profit, respectively.
Business results in the first quarter of 2023, the Company recorded revenue of VND118 billion, profit after tax reached more than VND3.5 billion, an increase of more than VND646 million compared to the same period last year; completed 24.5% of the revenue plan and 31.2% of the whole year profit plan.
By the end of March 31, 2023, Yen Bai Industrial Minerals Joint Stock Company had total assets of more than VND406 billion, equity of more than VND178 billion. Liabilities are VND227 billion, accounting for nearly 56% of total assets.
N.Nga
Source: VITIC/Tinnhanhchungkhoan