AsemconnectVietnam - After more than two years of comprehensive restructuring, Pha Le Plastic Production and Technology Joint Stock Company (HOSE: PLP) entered 2025 with the first positive signals. The first quarter of 2025 recorded revenue of VND561 billion, after-tax profit of VND5.9 billion, marking a spectacular comeback from a loss of VND10.7 billion in the same period last year - an important milestone when the SPC flooring factory in Hai Phong officially went into stable operation.

Comprehensive restructuring: From intermediate materials to final products
Having started as a mineral mining and processing enterprise with its main product being Filler Masterbatch plastic additives, PLP realized the limits of growth in a saturated market with low profit margins. Since then, the company has boldly moved the entire filler production line to Nghe An, and invested in building a high-tech flooring factory (SPC) right at its headquarters in Hai Phong, gradually realizing the strategy of "exploitation - deep processing - production of final products". Currently, the Hai Phong High-tech Flooring Factory has operated 8 modern production lines, with a capacity of nearly 9 million m²/year, and is continuing to expand, expected to complete the installation of a full capacity of 11 million m²/year with 10 lines in the third quarter of this year. SPC flooring - with more than 75% of its ingredients from CaCO₃ stone powder - is a consumer trend in developed markets such as the US, Europe, Australia... thanks to its water-resistant, termite-resistant, durable and environmentally friendly properties. PLP has also achieved many prestigious international certificates such as SGS, CE, GreenGuard, ISO, and Unilin (Belgium) locking copyright, opening the door to demanding export markets.
2025 Annual General Meeting of Shareholders: High consensus - Confidence for new steps
On June 23, 2025, Pha Le Plastic Production and Technology Joint Stock Company successfully held the 2025 Annual General Meeting of Shareholders at the conference room of the Company's headquarters, which is also the location of the Hai Phong high-tech flooring factory. The program attracted the participation of representatives of over 60% of the total number of voting shares, and all contents were approved by the General Meeting with a high consensus rate - demonstrating the consensus and confidence of shareholders in the Company's long-term development strategy.
A special highlight of the program is the tour of the SPC flooring production line right at the factory, where shareholders are introduced in detail to the production process, superior features as well as strict international standards that Pha Le Plastic's high-tech flooring product line is applying. This is a visual demonstration of PLP's strong transformation in its strategy of focusing on high-value-added end products.
At the meeting, shareholders approved the 2025 business plan, with a target revenue of VND2,700 billion and pre-tax profit of VND25 billion - equivalent to a growth rate of 184% compared to the results of 2024. The Board of Directors affirmed that these targets are completely feasible, based on the stable operation of the SPC Factory, the increase in export orders, as well as positive signals from the supply chain and international markets.
Destination: Comprehensive value chain, trend-leading products
With a clear direction, PLP is gradually increasing the proportion of high-tech flooring products in its revenue structure, focusing on segments with higher added value. At the same time, the company is committed to investing heavily in R&D to develop more products with outstanding features, better meeting global market demand.
PLP aims to achieve an export output of 45 million m² of flooring/year by 2027 and a revenue of VND9,000 billion, gradually completing a closed production - business chain from raw material exploitation to final consumption.
N.Nga
Source: VITIC/Tinnhanhchungkhoan