Trung Do Joint Stock Company Annual General Meeting of Shareholders 2022

2021 is the second consecutive yearTrung Do Joint Stock Companydeploying tasks in the context of the whole country being affected byCovid-19 pandemic,Due to many months of isolation and lockdown, the Company's production and business have encountered many difficulties, output and input markets have been interrupted and stagnant, production costs have increased...

Overview of the 2022 annual general meeting of shareholders of Trung Do Joint Stock Company. Photo: Nguyen Hai

In that difficulty, although more or less affected and affected, the Company has made many efforts to overcome difficulties to best implement the targets set out in the 2021 Shareholders' Meeting Resolution.

Specifically, reported financial revenue reached VND 802.3 billion, up 36.6% compared to 2020; pre-tax profit reached VND 118.1 billion, up 30% compared to 2020; average employee income reached VND 7.7 million/month, up 6.9% compared to 2020; State budget payment was VND 56.2 billion, up 6.4% compared to 2020; dividend/capital ratio was 16%.

Mr. Nguyen Duy Hien - Director of Trung Do Joint Stock Company, representing the Board of Directors, reported on the 2021 production and business results and the 2022 direction to shareholders. Photo: Nguyen Hai

Construction materials production and trading continues to be the core business of the Company, accounting for 57.4% of total revenue. Currently, there is 1 factory producing granite tiles and ceramic tiles, 3 tunnel brick factories, and 2 commercial concrete stations. In 2021, revenue reached 461.3 billion VND, producing 2.053 million m²granite tiles, 7.174 million m²ceramic tiles; 98.1 million standard bricks; 119,140 million m³ready-mixed concrete

Installing a large-sized crusher at Trung Do Slab Stone Factory in Nghi Van Construction Materials Complex. Photo: Nguyen Hai

Trung Do Tower 21 building in the new urban area of ​​Nam Nguyen Sy Sach is invested, constructed and operated by Trung Do Joint Stock Company. Photo: Contributor

In addition to the above fields, in 2021, the Company actively implemented production investment projects, including the ProjectTrung Do Construction Materials Complex in Nghi VanPriority is given to focusing resources to complete phase 1. By the end of 2021, the project has basically completed 95% of construction and installation items, the value of machinery and equipment received at the construction site reached 50% of the foreign contract value. Accumulated implementation by the end of the year reached 523 billion VND.

Machinery and equipment of the imported high-grade material production line have been installed at Nghi Van Trung Do Construction Materials Complex. Photo: Pham An

By early April 2022, all equipment of the Trung Do Nghi Van Construction Materials Complex project had been fully handed over to the construction site and was in the process of installing the spray drying tower line, technology tower, Continua+ rolling line... Most recently, the Trung Do Raw Material Processing Factory investment project in Tan Ky was approved for investment by the People's Committee of Nghe An province on September 7, 2021 with a total investment of 235.9 billion VND, capacity of 300,000 tons/year...

Representative shareholders and general shareholders of Trung Do Joint Stock Company voted to approve the targets at the 2022 General Meeting of Shareholders. Photo: Nguyen Hai

At the 2022 Annual General Meeting of Shareholders, along with the review of the 2021 production and business results, based on the identification of difficulties and advantages in 2022, the Company has proposed innovative and breakthrough solutions in management to achieve production and business goals. Accordingly, the Company strives to achieve revenue of VND 823.7 billion, pre-tax profit of VND 90 billion, expected dividend of 15-20%, budget contribution of VND 55 billion; expected to invest an additional VND 470 billion to implement projects and purchase equipment for production and business...

Mr. Nguyen Hong Son - Chairman of the Board of Directors of Trung Do Joint Stock Company spoke about the Company's operational orientation in 2022 and the following years. Photo: Nguyen Hai

Speaking at the General Meeting of Shareholders, Mr. Nguyen Hong Son - Chairman of the Board of Directors of Trung Do Joint Stock Company affirmed that the Company's implementation of investment projects in the production of construction materials demonstrates the Company's perseverance, determination and long-term vision and is also in line with the Government's major policies and orientations. Not only that, the Company has a number of previously invested production lines that are outdated and must be converted. During the conversion process, the Company must choose a roadmap suitable to its capacity conditions to have a capital mobilization plan; at the same time, prioritize productivity and efficiency.

In 2022, the construction materials market will "explode", so the Company must be proactive and creative to capture the market, take advantage of opportunities, and promote production and business. Although there are some advantages, the difficulties and challenges ahead are huge, competition in the field of construction materials production is very fierce, so the Company's shareholders must realize this to share and work with the Company's Board of Directors to implement major policies to increasingly improve the Company's production and business. In the near future, along with improving the efficiency of operations, investment management, and business, the Company will have a number of new policies to care for and improve the lives of employees, senior people and those who have made great contributions to the Company.

Mr. Nguyen Hong Son - Chairman of the Board of Directors of Trung Do Joint Stock Company