Steadfastly rowing through the covid wave, SBV broke through with its intrinsic value
Present at the meeting were familiar faces of customers, distributors and investors who have been with the company since the early days of the roadmap to explore the Vietnamese market as well as becoming the first company in Vietnam. of the fishing gear industry listed on the Ho Chi Minh City Stock Exchange.
At the AGM, the representative of the Board of Directors of the company – Ms. Ngo Tu Dong Khanh reported on the company’s business results in 2021. It is noteworthy that despite experiencing a period of intense social distancing since May. From July to September, while a series of businesses closed down, not to mention this was the end of the quarter, which was the peak of sales according to the operating characteristics of the industry, SBV still recorded positive growth in sales revenue with a slight growth of 0.79%. The anti-epidemic distancing measures have paralyzed the economy, the blockade between localities has seriously affected the consumption of goods, and at the same time, maintaining production on the spot makes production costs. increased suddenly compared to 2020. The high price of plastic resins compared to the previous year also increased product prices, reducing the company’s profit before tax in 2021, so the company could not maintain its growth momentum with only pre-tax profit target only reached 71.9% of the set target.
A really difficult and challenging period for the Board of Directors and all employees of the company, maintaining safe production in the situation of extremely complicated epidemic developments, accepting to sacrifice a part of the company’s profits. profits to ensure the delivery schedule for the contracts signed with customers. One of the long-time investors expressed his appreciation at the meeting: “Although the number is modest, it also proves the company’s efforts in maintaining business operations and protecting the interests of shareholders, It’s a very respectful thing.”
After two consecutive years of being affected by the pandemic, a remarkable thing of SBV from the perspective of a listed company is its ability to maintain a cash dividend at the rate of 12%, making SBV stock a a fairly stable holding instrument for investors to choose tokens with sustainable value. More specifically, the presentations at the General Meeting highlighted bold ideas in the direction of the Board of Directors and the long-term vision of the Board of Directors, such as changing the structure of the Board of Directors to enhancing the role of research and development function when there is a member of the Board of Directors directly in charge of this function, equitizing subsidiaries, issuing more shares to increase charter capital to invest in the system new machinery for the purpose of manufacturing “specialized products” and “expanding export markets to at least four countries”, said Mr. Tran Thanh Long – Deputy Commercial Director presented at the congress.
Ms. Ngo Tu Dong Khanh – General Director presented the goals set by the company for the new year
With caution and certainty, the company submitted and was approved by the General Meeting of Shareholders to achieve revenue target of VND 618 billion and pre-tax profit of VND 77 billion. According to Ms. Khanh, in addition to focusing on production and business, the company always maintains the orientation of sustainable development through activities towards the environment and contributes to society right where the company operates. With this in mind, the company has allocated human resources and resources to support people affected by the pandemic in the areas where the company operates. Specifically, SBVN has supported food (rice, fish and bananas) through competent agencies such as People’s Committee of Ward District 12, City Union, Church branch and charity kitchen. In addition, with the vision and belief that everything will return to normal, the company has also chosen to support future recovery in remote, isolated and poor areas, specifically by contributing to the construction a preschool in Phung Hiep district, Hau Giang province, hoping that this facility will go into operation on time so that children can go back to school during the recovery period. Environment and corporate social responsibility are hot topics globally, each activity of the company is affirming the right long-term development path that every business today is aiming for.
It is clear that the reports, figures and orientations given at the 2022 Annual General Meeting of Shareholders of Siam Brothers Vietnam Joint Stock Company have become concrete evidences of the company’s internal strength. .
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