Mr. Ho Quynh Hung, Chairman of the Board of Directors of Dien Quang Group, is no longer the legal representative of this enterprise. His replacement is Mr. Tran Quoc Toan.
Mr. Ho Quynh Hung - Chairman of Dien Quang Group - Photo: DQC
Dien Quang Group Joint Stock Company (DQC) has just announced the decision to change its legal representative.
Accordingly, Mr. Ho Quynh Hung, Chairman of the Board of Directors, is no longer the legal representative since December 18. The person replacing Mr. Hung is Mr. Tran Quoc Toan, General Director of Dien Quang Group.
This change was made by the company that owns the Dien Quang light bulb brand by obtaining shareholders' opinions in writing.
The total number of votes sent to 2,629 shareholders, equivalent to more than 27.55 million shares, accounting for 100% of outstanding voting shares.
The vote counting results showed that 30 shareholders participated in the vote, of which 29 were valid votes representing more than 18.54 million shares, accounting for 67.31% of the total outstanding voting shares. Regarding the approval of the change of legal representative, 67.3% agreed.
According to information from Dien Quang Group, Mr. Ho Quynh Hung (53 years old) joined the Board of Directors from April 2009. In May 2010, Mr. Hung was appointed as Chairman of the Board of Directors and General Director of Dien Quang Group Joint Stock Company. Then in 2020, Mr. Hung left the position of General Director.
Regarding professional qualifications, Mr. Hung graduated from Ho Chi Minh City University of Technology, majoring in computer science , and has a master's degree in business administration from GRIGGS School, USA.
Dien Quang suffers losses after a long period of profit
According to the consolidated financial report for the third quarter of 2024, Dien Quang recorded revenue of nearly 600 billion VND in the first 9 months of this year, down 10% compared to the same period last year. Dien Quang's after-tax profit was negative by nearly 5.5 billion VND, down from a loss of nearly 9.5 billion VND in the same period.
Dien Quang said that thanks to cutting expenses and personnel costs, it has reduced losses. In 2024, Dien Quang set a revenue target of VND1,000 billion and pre-tax profit of VND20 billion. With the results achieved, the goal of fulfilling the promise to shareholders is still quite far away.
Dien Quang started losing money last year with 33 billion VND. This is also the first year the company has suffered a loss, after continuously making profits since listing on the stock exchange in 2008.
According to the explanation of Dien Quang's board of directors at that time, business results were not positive due to decreased revenue, but the company still increased promotional costs and set aside provisions for financial investments according to regulations.
Source: https://tuoitre.vn/dien-quang-thua-lo-kha-nang-hoan-thanh-muc-tieu-kinh-doanh-2024-con-kha-xa-20241219204736168.htm
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