AsemconnectVietnam - On the morning of July 26, 2023, Vietnam Electric Cable Joint Stock Company (CADIVI - stock code CAV) - a member unit of GELEX Group, successfully held the 2023 Annual General Meeting of Shareholders, approving the business production plan in 2023 and many other important contents.

Reporting on business results in 2022, Mr. Le Quang Dinh - Member of the Board of Directors, General Director of CADIVI said that in the context of high inflation affecting production and business activities, revenue CADIVI's consolidated net profit reached VND11,334 billion, completing 94% of the plan in 2022, consolidated pre-tax profit reached VND482 billion, reaching 92% of the plan.
Notably, in 2022, CADIVI has implemented many digitization policies and successfully operated the SAP S/4HANA business management system to help digitize all production and business activities of enterprises.
Regarding the financial situation, as of December 31, 2022, CADIVI's total assets reached VND4,710 billion, the company actively settled more than VND730 billion short-term loans and more than VND99 billion long-term loans, helping to reduce risks and pressures from fluctuations in macro factors, thereby focusing on internal resources to improve operational efficiency.
In 2022, CADIVI continues to be confirmed as the "No.1 market share in Vietnam" (2021-2023), a brand trusted by customers with a nationwide distribution agent system (according to market survey results of the Business Association of High Quality Vietnamese Goods). The company also continued to be voted as Vietnam National Brand for the 8th time.
In 2023, CADIVI's management assessed that the market continued to have many unpredictable fluctuations, so the Company set a target of consolidated revenue of VND12,079 billion, consolidated pre-tax profit of VND450 billion, equivalent to VND450 billion equivalent to 107% and 93% respectively compared to the implementation in 2022.
To achieve this plan, the Board of Directors has given specific orientations and solutions, focusing on sales, marketing, production and product research and development.
With the base market, CADIVI determined to continue to maintain the market through the dealer system with transparent sales regulations, increase the interest of agents by customer conferences, and focus on traditional products with high turnover and profit ratio. With the export market, the company advocates keeping traditional customers, increasing revenue in these markets, and at the same time looking for new partners and potential markets.
In production, the Company builds close links with manufacturing plants to process orders quickly, operate production processes to provide a full range of products to customers and balance well between material supply and customer demand in order to reduce costs and increase production efficiency.
In addition, the Company actively captures technology and material information to update new technologies, improve features, and lower product costs. At the same time, optimizing product design, proposing research and improvement, shortening stages, reducing production costs, thereby increasing competitiveness.
In addition, the company strengthens, maintains, applies and regularly improves the product quality control and management system; attract and retain talents with appropriate and competitive policies, build a team of highly qualified and capable human resources, etc.
At the end of the meeting, shareholders expressed their trust and appreciation for the stable and sustainable development of CADIVI and expressed their wish that the Board of Directors would be proactive in management and administration to successfully implement the objectives. , business plan in 2023 and bring the highest benefits to shareholders and investors.
At the end, the General Meeting also approved all contents and proposals.
N.Nga
Source: VITIC/Tinnhanhchungkhoan