AsemconnectVietnam - On the morning of March 10, Hoa Sen Group Joint Stock Company (HSG code - HOSE) held the Annual General Meeting of Shareholders for the financial year 2022-2023.

Mr. Le Phuoc Vu, Chairman of the Board of Directors of Hoa Sen Group, said that in 2022, the company has ensured the best sales volume, cash flow, and business cash flow stability. At the end of the financial year 2021-2022, the business situation remained stable, all medium and long-term debts were settled, cash flow was positive...
In addition, with difficulties expected to last in 2023, even by the end of 2024, the Company's Board of Directors said that it will focus on deepening consolidation, promoting competitive advantages to increase production; expand Hoa Sen home system (Currently the system has 112 stores), research to expand business product portfolio; restructuring, transforming business models according to the roadmap…
In the year 2022-2023, Hoa Sen sets a business plan based on two scenarios.
In the first scenario with the finished product output option of 1.4 million tons, the Company plans a revenue of VND34,000 billion, down 32% over the same period and an expected profit of VND100 billion, down 60% compared to the same period last year.
The second scenario is more positive with finished product output of 1.5 million tons, estimated revenue of VND36,000 billion, down 28% over the same period and expected profit of VND300 billion, up 20% over the same period last year. Hoa Sen Plastic Joint Stock Company IPO in the period of 2023-2026
Hoa Sen's Board of Directors said that steel exports in 2023 still have many potential uncertainties and uncertainties in the context of increasing competition challenges and trade barriers. In addition, fierce competition in the domestic market, tight monetary policies, increasing interest rates, and escalating exchange rates may negatively affect demand and production and business activities of units. in the industry. However, from an internal perspective, Hoa Sen is still maintaining stability in financial situation and production and business situation.
For the plastic production and business segment, the Company continues to strengthen the production and business efficiency of Hoa Sen Plastic JSC, and at the same time prepares the necessary conditions for the IPO at a suitable time, expected time will be from 2023 to 2026 if the economic situation is favorable.
For the business of distributing building materials and furniture, the Company continues to expand and strengthen the business efficiency of the Hoa Sen Home system. At the same time, research and prepare necessary resources and conditions to establish Hoa Sen Furniture - Building Materials Distribution Joint Stock Company (Hoa Sen Home Joint Stock Company) and organize the transfer of the distribution of building materials to Hoa Sen Home Joint Stock Company. at a suitable time, expected 2024-2026.
For the profit distribution plan, for the year 2021-2022, the Company recorded VND251.3 billion profit, the Company approved the setting up of a bonus fund of 2%, a welfare fund of 2% and 4% of sponsorship, charity fund.
Particularly for shareholders, the Company approved a 3% stock dividend plan for the year 2021-2022. It is known that, for the fiscal year 2020-2021, the dividend is 20%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan