Annual General Meeting of Shareholders 2025: Petrolimex orients development strategy for the next 10 years based on 3 main pillars

Overview of Petrolimex 's 2025 Annual General Meeting of Shareholders

The meeting was convened according to Notice No. 0668/PLX-HĐQT dated April 4, 2025 of the Board of Directors (BOD) of Petrolimex to discuss and vote to approve annual contents under the authority of the General Meeting of Shareholders announced to shareholders on the website Petrolimex.com.vn.

Attending and directing this year's Petrolimex General Meeting of Shareholders was Mr. Lai Xuan Lam - Deputy Secretary of the Government Party Committee. On behalf of the Owner, there were Mr. Cao Anh Tuan - Deputy Minister of Finance ; Mr. Nguyen Thanh Cong - Deputy Director of the State Enterprise Development Department.

The Presidium of the General Meeting of Shareholders consists of 5 members: (1) Mr. Pham Van Thanh - Chairman of the Board of Directors of the Group: Chairman (2) Member of the Board of Directors, General Director of the Group Dao Nam Hai; (3) Member of the Board of Directors, Deputy General Director of the Group Tran Ngoc Nam; (4) Member of the Board of Directors Tran Tuan Linh and (5) Member of the Board of Directors Endo Tsuyoshi.

At the Congress, the reports and proposals under the authority were approved by shareholders with a high voting rate.

Petrolimex successfully completed the 2024 production and business plan targets.

In 2024, the Board of Directors of the Group has fully performed its responsibilities and powers as prescribed. Based on the Resolution of the 2024 Shareholders' Meeting, the Board of Directors has led and directed the implementation of synchronous solutions, overcoming difficulties and challenges, thereby completing the assigned plan targets and the contents approved by the 2024 Annual Shareholders' Meeting.

In addition to exceeding the important targets assigned by the General Meeting of Shareholders, other areas of operation of the Group also achieved good results, the key and outstanding tasks completed during the year are as follows:

(1) Seriously implementing the directions of the Government, the Prime Minister, and the Ministry of Industry and Trade , in 2024, the Group organized the creation of sources to complete 109% of the total source limit assigned by the Ministry of Industry and Trade, ensuring supply and stabilizing the petroleum market in all situations. In particular, proactively responding and promptly implementing scenarios to ensure uninterrupted petroleum supply, serving the essential needs of the people, minimizing risks to people and property when there are natural disasters, storms and floods, especially Typhoon Yagi occurring in September 2024.

(2) The Board of Directors thoroughly grasps the goal of ensuring absolute safety in the production and business process and continues to implement solutions to improve the quality of corporate governance. Continue to improve the quality of corporate governance to approach OECD standards. Organize a review of all internal governance regulations and rules to supplement and improve them to comply with current regulations of the Party and the State.

(3) Continue to promote the implementation of the Comprehensive Digital Transformation Strategy: with the implementation of a series of key projects such as: Project to deploy Automation at warehouses and gas stations; Automatic payment via RFID technology, smart cameras; SMO order management solution; Upgrade Petrolimex App Version 2; Upgrade the interface and features of Digital Office; Smart BI report; Digital transformation of the Group's internal management regulations; Survey of the current status of digital culture...

(4) Green energy transition: Implement the Plan to build a net-zero and carbon neutral strategy for scope 1&2 by 2026 (Handing over 2,000 water purifiers in Lao Cai, Ha Giang, Yen Bai, Researching investment in afforestation, Conducting greenhouse gas inventory across the Group; Promoting research consulting to create carbon credits, Registering to participate in JETP projects...).

(5) Continue to implement the approved Petrolimex restructuring project for the period 2021-2025, with a vision to 2035; Continue to implement the content of land rearrangement and handling in accordance with the provisions of law in Decree No. 67/2021/ND-CP of the Government, amending and supplementing a number of articles of Decree No. 167/2017/ND-CP dated December 31, 2017 of the Government regulating the rearrangement and handling of public assets as directed by the State Capital Management Committee.

(6) Implement social security work well in 2024: including supporting the National Fund to join hands to eliminate temporary and dilapidated houses for poor households and other social security programs; Compensating for costs to create resources for units in remote areas with difficult business locations to ensure the supply of gasoline to serve social needs, contributing to ensuring national energy security in all regions of the country.

Production and business plan for 2025

Entering the final year of implementing the 2020-2025 plan, responding to and seriously implementing the policies and guidelines of all levels, Petrolimex sets the following goals:

TT	Target	Plan 2025
1	Consolidated petroleum output for sale (m3, tons)	17,009,900
	In which, Parent Company	11,868,000
2	Consolidated revenue (billion VND)	248,000
	In which, Parent Company	148,000
3	Consolidated profit before tax (billion VND)	3,200
	In which, Parent Company	1,936
4	Expected dividend payout ratio	10%

To strive to complete the plan and contents assigned by the General Meeting of Shareholders, the Board of Directors and the Executive Board focus on implementing the following main tasks and groups of solutions:

1. Ensure sufficient resources for business operations: Negotiate effective contracts with domestic refineries, while researching to expand partnerships with suppliers, manage inventory appropriately according to market developments, and ensure sufficient sources of goods to meet the needs of the economy.

2. Business and business support: Focus resources to promote strong growth in all retail, wholesale, TNNQ, TNPP methods to complete the 8% output growth plan, including:

- For the retail system: Prioritize the development of a system of gas stations, rest stops on highways, main roads, key areas, etc.; Determined to complete projects on schedule; Promote in-depth renovation and repair of gas stations with the aim of increasing labor productivity and output.

- For other methods: Find effective solutions, allocate resources reasonably, to increase the number of TNNQ, the number of wholesale customers; Promote in-depth renovation and repair of CHXD with the aim of increasing labor productivity and output; Focus on and improve marketing activities, enhance competitiveness...

3. Synchronously deploy solutions to ensure security and safety: Strengthen measures to ensure security and safety in all weather conditions, especially during holidays, Tet, hot and rainy seasons; Deploy a fire prevention and fighting database management system and an incident warning system at petroleum projects; Review, update and issue new environmental protection regulations in accordance with current legal regulations...

4. Investment in technical facilities: Proactively, closely follow and work with relevant agencies to promote and advance research on the Lach Huyen petroleum warehouse - port investment project; Participate in investing, owning and operating aviation petroleum warehouses, underground filling systems, aviation fuel supply in Long Thanh International Airport and pipelines and warehouses outside Long Thanh International Airport; Continue to implement new brand identity at the petroleum station system.

5. Business management, administration and restructuring: Review, update and synchronize the system of regulations and financial management processes in accordance with regulations and practices of petroleum business; Implement plans to practice thrift and combat waste according to the direction of the Party and State; Improve the effectiveness of risk management, build a culture of internal control; Strengthen inspection and supervision work...

6. Labor and salary organization: Well control the labor quota at construction companies in the direction of streamlining, efficiency, and improving labor productivity; Proactively review and evaluate to arrange and streamline the apparatus in the spirit of Resolution 18-NQ/TW; Continue to research and propose to improve income and remuneration for employees throughout the system in accordance with the actual conditions of the Group; Strengthen training, capacity development, professional expertise, strive to improve labor productivity and work efficiency...

7. IT application, automation and digital transformation: Further strengthen digital transformation in the spirit of Resolution 57-NQ/TW; Continue to promote the implementation of the Comprehensive Digital Transformation Strategy; Apply advanced technology solutions to serve the management, administration and supervision of goods at all stages; Promote the entire system to use centralized and shared services, especially the Group's core business and service application systems...

8. Green transition: Research and evaluate the market to propose and develop plans for blending and trading high-quality biofuels; - Implement a greenhouse gas emission reduction plan aiming at carbon neutrality and net-zero; Implement a greenhouse gas emission reduction plan aiming at carbon neutrality and net-zero;

9. Innovation and creativity: Continue to promote innovation and creativity throughout the system; Research, develop and propose a plan to establish the Vietnam National Petroleum Group Innovation Center; Coordinate with the National Innovation Center (NIC) to participate in activities to promote innovation in business, focusing on researching and applying advanced technologies and developing solutions to develop green, clean and environmentally friendly energy sources.

10. For Corporations/Joint Stock Companies: Focus on implementing the arrangement and streamlining of the apparatus of units according to the approved restructuring project for the period 2021-2025, vision 2035; Have breakthrough and innovative plans in administration, business, and access to new markets outside the petroleum channel; Increase investment, application, and exploitation of digital tools and platforms in sales and business activities; Strengthen management, administration, and internal control...

Source: https://www.petrolimex.com.vn/ndi/thong-cao-bao-chi/dai-hoi-dong-co-dong-thuong-nien-nam-2025-petrolimex-dinh-huong-chien-luoc-phat-trien-10-nam-toi-dua-tren-3-tru-cot-chinh.html