The inspection team made a record of the incident at CP's store in My Xuyen district - Photo: KHAC TAM
Charoen Pokphand Foods (CPF)'s financial report shows that this leading Asian agricultural and food enterprise headquartered in Thailand owns 83.18% of Vietnam Joint Stock Company by the end of 2024.
The data also shows that the Vietnamese market is contributing quite a lot to their consolidated revenue structure.
Revenue from Vietnam is the largest in CP's international segment.
Specifically, according to a report from CPF, revenue in the Vietnamese market accounted for about 21% of the company's total revenue last year with more than 122 billion baht, an increase of more than 5% compared to 2023.
The above figure, converted to the exchange rate at the end of 2024, is about VND95,000 billion. This level also makes Vietnam the international market with the largest revenue contribution to CPF last year.
Not only until 2024, looking back at data over the past 5 years, Vietnam market revenue regularly contributes about 20% of CPF's consolidated revenue.
Data is converted from Thai baht to Vietnamese dong, so there will be a certain difference (+-) depending on the exchange rate determination at each time.
CPF's 2024 report also showed that overseas market activities brought in 63% of total consolidated revenue, remaining stable compared to the previous year.
Revenue growth in some markets is supported by higher product prices compared to 2023 and improved supply-demand after oversupply in 2023, especially in Vietnam, Cambodia and the Philippines.
About CPF, this is a subsidiary of Charoen Pokphand Group (CP Group) - one of the largest multi-industry corporations in Thailand and Asia.
According to financial reports, CPF has invested in 17 countries, including Vietnam. It also distributes meat and products to more than 50 countries.
With a large distribution and investment network, the revenue from sales of this Thai group in 2024 is 580.74 billion baht, equivalent to more than 462,000 billion VND, a decrease but not significant compared to 2023. Meanwhile, gross profit is more than 85 billion baht, equivalent to about 66,000 billion VND, a sharp increase of 50% compared to the previous year.
Expanding from livestock to aquaculture
According to information from the website, Thailand's Charoen Pokphand Group invested in Vietnam in 1988, after Vietnam opened its doors in 1986 under the renovation policy, by opening a representative office in Ho Chi Minh City.
In 1993, CP Vietnam Livestock Company Limited was established and an animal feed factory was built in Bien Hoa 2 Industrial Park, Bien Hoa City, Dong Nai Province.
In 2009, CP Vietnam Livestock Company Limited merged with Charoen Pokphand Vietnam Company Limited to form CP Vietnam Livestock Joint Stock Company.
By 2021, CP Vietnam signed a strategic cooperation agreement with PAN Group to invest 25% of shares in Sao Ta Food Joint Stock Company to promote the seafood sector.
What did the Vietnamese government say when accused?
In recent days, a petition accusing Mr. N. of violating food safety laws has been circulating on social media and is attracting public attention.
In the petition, Mr. N. accused the Joint Stock Company of mixing diseased pork to sell to consumers. Along with the petition, Mr. N. also posted messages discussing related incidents.
The Joint Stock Company immediately sent a dispatch to the Department of Culture, Sports and Tourism of Soc Trang province, requesting to handle the act of posting false information, defaming the reputation of the enterprise.
CP Vietnam affirms that all information posted by Zalo account "Ngan Tech" and Facebook account "Jonny Lieu" is fabricated and untrue with the aim of causing damage to the company.
According to this enterprise, the attached images are unclear and are not images of CP Vietnam products. CP Vietnam has also proposed to review, verify, and handle in accordance with legal regulations; request the removal of all infringing content and have a form of public correction of information to restore the honor and reputation of the enterprise.
On May 31, the Department of Agriculture and Environment of Soc Trang province also quickly reported the inspection results at Fresh Shop on Trieu Nuong Street, My Xuyen town after feedback from Mr. N.
At the time of inspection, the delegation did not detect any trading of diseased pork and chicken products with foul odors or expired products.
However, the food safety certificate of the business location has expired; at the same time, the original business registration certificate and food safety training certificate of the owner and sales staff have not been presented.
Source: https://tuoitre.vn/he-lo-doanh-thu-khung-cua-de-che-chan-nuoi-cp-tai-viet-nam-20250531194214236.htm
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