AsemconnectVietnam - Sharing with shareholders at the recent Annual General Meeting of Shareholders, the leader of ST8 Group Joint Stock Company (stock code ST8) said that the consumption market slowed down, the company's profit in the first 6 months of the year reached about VND5 billion, equivalent to 20% of the yearly plan.

Specifically, revenue in the first 6 months is estimated at VND260 billion, completing nearly 30% of the yearly plan, profit after tax is estimated at about VND5 billion, equivalent to 20% of the yearly plan. The reason comes from the slowing consumption market in the first two quarters of the year due to the impact of the US's reciprocal tax policy on the Vietnamese market, affecting some of the company's partners.
ST8's annual general meeting of shareholders held on June 30, 2025 approved the business plan with the target revenue of VND900 billion, after-tax profit of VND25 billion, growth of 90% and 4% respectively compared to 2024.
ST8 has been restructuring the company since 2024, recording significantly improved business results mainly from its subsidiary Ecogreen Agri Vietnam Joint Stock Company and other member companies that have implemented many large contracts in the fields of agricultural products and aquatic products. From the successful results of the restructuring, ST8 said it is on the right track and continues to focus on M&A activities of agricultural processing factories, investing in technology and developing human resources to create sustainable growth momentum.
In the last 6 months of the year, ST8 will focus on promoting the commercial activities of Ecogreen subsidiaries, expanding markets, diversifying agricultural products, and actively seeking strategic partners and new investment opportunities to diversify revenue sources and improve long-term operating efficiency. Previously, in the financial report for the first quarter of 2025, the Company had short-term receivables of more than VND202 billion, of which receivables from Minh Phat Import-Export Trading and Service Co., Ltd. were VND34.4 billion, GP Resource Company VND44.8 billion, X Roads Vietnam Consulting Company VND31.3 billion, Kim An Dung Trading and Service Co., Ltd. were VND27 billion, and other companies were more than VND65.2 billion. In addition, there is a short-term loan receivable of more than VND12.4 billion, of which VND10.2 billion is receivable from Ms. Tran Thi Kim Dung, VND1.4 billion is receivable from Mr. Huynh Quang Minh, and VND850 million is receivable from Hoang Thinh Company.
Responding to shareholders' questions about the company's relatively large receivables, ST8 leaders said that due to the Company's main business line of trading agricultural products, the company needs to pay in advance to rotate capital in business, so at the time of preparing the report, there were large receivables, most of which came from long-term partners, so the Board of Directors determined that there was no risk from these receivables.
In 2025, the Company plans to continue to develop agricultural products, divest from unfeasible projects, and high capital requirements, while promoting the M&A strategy of enterprises, organizations, and asset projects in line with the company's strategy according to the policies of the General Meeting of Shareholders and the Board of Directors.
N.Nga
Source: VITIC/Tinnhanhchungkhoan