AsemconnectVietnam - At the Annual General Meeting held on April 26 at Sen Viet Hotel, District 3, Ho Chi Minh City, Southern Battery Joint Stock Company (Pinaco, stock code PAC) will present shareholders with a rather cautious business plan for 2025.

Specifically, in 2025, Pinaco sets a revenue target of VND4,000 billion, pre-tax profit of VND165 billion, increasing by 4% in revenue and 1% in profit compared to 2024.
To implement the 2025 business plan, in the annual report, Pinaco Chairman of the Board of Directors Le Hoang stated that the Company's key task is to promote exports, especially to the Middle East and ASEAN markets. At the same time, continuously improve and enhance product quality, research new products to meet customer needs.
By the end of 2024, the Company will export to 44 countries and territories with traditional markets in the Middle East, Southeast Asia, and South America.
In addition, Pinaco plans to start construction of a battery factory to meet growth demand and relocate the Dong Nai battery factory in Bien Hoa Industrial Park.
In addition, the Company focuses on accelerating investment progress to quickly meet the demand for CMF batteries for export customers, for Vinfast and develop new products...
In the first quarter of 2025, Pinaco plans to achieve revenue of VND996 billion and pre-tax profit of VND41 billion. If this plan is achieved, PAC can complete 25% of the annual revenue and profit plan.
By the end of 2024, the Company recorded total revenue of VND3,849 billion, up 7% over the same period and exceeding the plan by 1%; pre-tax profit reached VND164 billion, exceeding the plan by 3% and increasing by 6% over the same period.
According to the 2024 financial report, Pinaco's payable debt as of December 31, 2024 was VND1,565 billion (up 5% compared to the end of 2023), mainly short-term debt (VND1,550 billion), loans and financial leasing debt alone were more than VND1,220.1 billion, accounting for 77.9% of total debt.
Pinaco's total outstanding debt is currently accounting for 61.7% of Pinaco's total capital and is 1.6 times higher than the company's equity (equity reached VND968.8 billion). Pinaco is using financial leverage to serve production expansion activities.
As of December 31, 2024, Pinaco's total assets were nearly VND2,534.8 billion, up 4.2% compared to the beginning of the year. Of which, inventories were more than VND696.2 billion, accounting for 27.5% of total assets, investments held to maturity were VND555 billion, accounting for 21.9% of total assets.
Recently, Pinaco was fined and had a total of VND2.3 billion collected for administrative violations of tax. At the same time, the tax authority also requested Pinaco to declare an adjustment to reduce the deduction of more than VND175.8 million in the value-added tax declaration of the tax period receiving this decision.
Currently, Pinaco has a charter capital of over VND464.7 billion, of which the two major shareholders are Vietnam Chemical Group (51.4% ownership) and The Furukawa Battery (10.5% ownership). The Furukawa Battery is a Japanese battery manufacturing company.
N.Nga
Source: VITIC/Tinnhanhchungkhoan