AsemconnectVietnam - Petroleum Equipment Assembly & Metal Structure JSC (code PXS) has just announced documents for the 2025 Shareholders' Meeting scheduled to be held on May 23 in Ba Ria - Vung Tau.

In 2025, the Company plans to submit to the Shareholders' Meeting a business plan with an output value of VND784 billion, an increase of more than 44% compared to the results of 2024. Accordingly, expected revenue is VND725 billion, an increase of 25%; and pre-tax profit is VND12.2 billion, an increase of 14% compared to the results of the previous year. This year, the Company will not pay dividends to shareholders.
The Board of Directors said that this year, in addition to the projects under construction from 2024 such as Lot B, Lac Da Vang, P15, etc., a number of new projects are also in the Company's production and business plan such as Dai Hung Nam, O Mon 4 Thermal Power Plant, Cuu Long. The Company will also act as a subcontractor for units such as VSP, PTSC, PTSC M&C, etc.
However, the Company believes that in recent years, there has been the participation of foreign-invested enterprises, along with the growth of a number of domestic private enterprises with large investment capital. This has caused the construction and mechanical processing market to increasingly tend to decrease in price and compete fiercely on price, leading to a reduction in the opportunity to win bids and a reduction in the scale and scope of the bid package if awarded.
Not to mention that many units operating in the same construction and installation sector, due to lack of work, still have to accept the risk of participating in the implementation to maintain production activities, so there is fierce competition in price.
To ensure the achievement of the growth plan, PXS will focus on implementing the projects of Topside fabrication of Lot B - Package 2 Phu Quoc, P15, Lac Da Vang base fabrication, ...; strictly control the costs of implementing the projects. In addition, the Company also prepares the best conditions and resources to be able to implement construction immediately after the Company's new projects begin implementation such as: Taiwan wind power, Topside for MDL, ...
For the Lot B - O Mon project, PXS will join the parent company PetroCons and other partners to participate in bidding and construction of downstream works in this project chain such as: onshore gas pipeline, valve stations, gas distribution stations and O Mon 4 Thermal Power Plant according to the implementation progress of each project.
N.Nga
Source: VITIC/Tinnhanhchungkhoan