VISSAN building brand name by quality productFriday, April 21,2017
AsemconnectVietnam - Vissan Joint Stock Company (VISSAN) successfully hosted an initial public offering on March 7, 2016 with a bid volume 5-6 times that of the offered volume. The average winning price of a share was VND80,053, 4.7 times higher than the starting price.
On October 21, 2016, the State Securities Commission of Vietnam (SSC) approved of VISSAN’s share listing on UPCOM, a stock exchange administered by the Hanoi Stock Exchange (HNX). Ending the first year with the first half operated as a one-member limited liability and a second half run as a joint stock company, challenges and pressures of the new change dramatically affected the Board of Directors and the Board of Executives in access strategies and promoted their potential management power. Inheriting the core values built up after 47 years of construction and development, the synergy of its valued partners together with its own determination and effort, VISSAN achieved encouraging results in 2016. Specifically, its revenue reached VND3,684 billion, equal to 92 per cent of the full-year plan and profit before tax was VND148.2 billion, 19 per cent in excess of the yearly plan.
Self-made pressure development is an obligatory requirement in transformation and change to continue its leadership. In 2017, the company still pursues its strategy towards food safety, quality and traceability with the mission of bringing the highest benefit to the community and the greatest benefit for employees and shareholders. The company highly expected that its pig output will rise 35.5 per cent to 28,500 tonnes and its pork output will grow 14.5 per cent to 19,760 tonnes from a year earlier. The company’s revenue in 2017 will jump 23 per cent year on year to VND4,545 billion and its profit pick up 5 per cent to VND156 billion.
The 2017 Annual General Meeting of Shareholders was also a forum for shareholders to discuss and vote on key issues of development strategy and on business plans in 2017 and subsequent years. Also at this meeting, shareholders and proxies proposed valuable opinions for the company’s sustainable development.
Currently, VISSAN is one of leading food companies specialised in manufacturing and trading fresh and frozen meat and processed meat-based foodstuffs. Its main products include fresh foodstuffs: pork and beef, etc.; dried processed foodstuffs: sterilised sausage, sausage and canned food, etc.; frozen foodstuffs: spring rolls, grilled rolls, dumplings, wontons, hams and assorted pork.
VISSAN holds 65 per cent of sausage market share, 75 per cent of Chinese sausage market share, 40 per cent of frozen food market share, 30 per cent of pork pie market share, and 20 per cent of canned food market share. The company also has more than 130,000 outlets across the country.
In 2016, VISSAN was still one of 1,000 biggest taxpayers in Vietnam, named the National Value, and voted the Vietnam High Quality Product for 21 consecutive years and many highly regarded brand awards.
VISSAN’s majority shareholders include Satra - a major corporation under the People's Committee of Ho Chi Minh City; and Masan Group - a conglomerate and one of the 10 biggest listed companies on HOSE by market capitalisation. It also has more than 1,000 other shareholders, including its employees.
Set up 47 years ago, VISSAN, with a strong brand name featured with three yellow apricot flowers, is a familiar brand for all classes of consumers in Vietnam. VISSAN currently holds 65 per cent of sausage market share and 75 per cent of Chinese sausage market share, and has a nationwide distribution system with 130,000 outlets.
In its development strategy, VISSAN set clear goals and directions, including infrastructure investment, capacity building and equipment synchronisation in accordance with HACCP standards; and production facility investment in central, northern regions and some other potential areas in the country and in foreign nations. The company continues to develop distribution channels, especially expanding fresh meat retail networks, and expand food chain stores in Vietnam and other countries. Furthermore, the company upgrades its stores with VISSAN brand identity. It has also concentrated on investing in VISSAN Processing Industrial Complex and building high-quality, traceable cattle breeding areas.
The Board of Directors of VISSAN Joint Stock Company is determined to carry out the development strategies and business plans adopted by the Annual General Meeting of Shareholders in 2017, to make VISSAN the largest producer, processor and distributor of foodstuffs in the country and the region, and to complete the Feed - Farm - Food supply chain, trace the origin and expand distribution networks. With historical inheritance plus the synergised strength of shareholders, particularly the two majority shareholders Satra and Masan, VISSAN absolutely believes in its goal of delivering “Vitality Everyday” to Vietnamese people and increase the value for shareholders and investors in the future.