AsemconnectVietnam - On the morning of June 23, Ton Dong A Joint Stock Company held the Annual General Meeting of Shareholders in 2023.

Regarding the forecast for 2023, Representative Ton Dong A forecast that the world economy will still have many difficult fluctuations, many potential risks, low GDP growth, inflation, unemployment, bad debt... Vietnam is in a phase restructuring to stabilize the long-term sustainable development of the economy. The government is stepping up public investment to promote a long-term stable recovery for the Vietnamese economy.
Based on the forecast, Ton Dong A will promote and continue to develop its main business and production activities and at the same time seek and expand into new business areas suitable to its operational capacity, helping to create added value for the sustainable development of Ton Dong A.
The company continues to look for opportunities in areas related to other industries such as real estate, agriculture-industry, overseas investment to develop Ton Dong A's resources and focus on controling sustainable safety risk.
Profit plan of VND200 billion in 2023
In 2023, Ton Dong A targets total revenue of VND17,000 billion, equaling 78.4% over the same period and an expected profit after tax of VND200 billion, up 172% compared to the result in 2022. In which, Total production is expected to be 760,000 tons, or 98.7% of that realized in 2022.
Mr. Pham Quoc Thang - Deputy General Director shared that up to now, the production output of the Company has reached more than 50% of the plan of 760,000 tons, the estimated profit in the first 6 months is VND150 billion. In which, on average, the domestic market structure accounts for 45% and the remaining 55% comes from the export market.
It is known that in 2022, Ton Dong A has produced more than 767,000 tons, reaching over 90% efficiency. In which, the actual output sold more than 770,000 tons. Notably, the market share of Ton Dong A has increased to 17.11% (same period of 13.84%), keeping the top two market share in Vietnam market, shortening the gap compared to the leading company in the industry and being the leading enterprise in the industry. top three enterprises with output scale in the galvanized steel industry. In which, the domestic market share reached 13.83% (same period 13.31%) and export accounted for 20.43% (same period 14.15%). In addition, the Company has supplied galvanized steel products used in the production of household appliances to foreign manufacturers, including Samsung, LG, etc. For this segment, the product is highly demanded in terms of technical specifications and quality, but Ton Dong A has constantly improved its products and production to gradually gain acceptance.
In particular, the Company has promoted the application of digital transformation, using many tools for E-office, ERP, BI software, applications for customers App Ton Dong A, production and business, competitiveness and increase many advantages and benefits in production and business activities of the Company.
From April 2023 to present, the Company has started to carry out documents and procedures to register for trading of GDA shares at the Hanoi Stock Exchange (HNX) on UPCoM after changing the listing plan, time Expected transaction period in 2023.
Planning to invest in a new factory to increase the total capacity to 2 million tons/year
Regarding the investment plan, the Company plans to continue to plan, research and invest in the third galvanized sheet steel factory with a capacity of 1.2 million tons/year, bringing the total capacity of the whole system to 2 million tons, with the final product being coated steel sheet for construction, household appliances and automobile industries.
Specifically, the investment project of the third galvanized steel factory is divided into 3 phases, with a total investment of about VND7,000 billion and deployed from 6 to 8 years from the time of approval of the investment license. In which, phase 1 is expected to be implemented in 2 years with a capacity of about 350,000 tons/year.
The contents of reports and plans submitted at the General Meeting were reviewed and approved with a high rate.
N.Nga
Source: VITIC/Tinnhanhchungkhoan