Canon Distributor Le Bao Minh is no longer a public company.

The State Securities Commission has just announced the cancellation of the public company status of Le Bao Minh Joint Stock Company from January 1, 2025.

Le Bao Minh Joint Stock Company is located at 184 Nam Ky Khoi Nghia, Vo Thi Sau Ward, District 3, Ho Chi Minh City, the legal representative is Ms. Le Thi Ngoc Hai, Chairwoman of the Board of Directors.

Le Bao Minh Joint Stock Company was established in 1997 and became a public company in 2020. Thus, Le Bao Minh has closed its journey as a public company after 4 years.  

According to the company's second quarter 2024 financial report, Le Bao Minh's total assets are at 1,635 billion VND.

With a charter capital of VND500 billion, the largest shareholder of Le Bao Minh is currently Ms. Le Thi Ngoc Hai with a contribution ratio of 44.5%. The next two largest shareholders are Mr. Le Trung Hau and Ms. Le Hong Bao Tram with ownership ratios of 5.2% and 5% respectively. Ms. Le Thi Ngoc Hai is currently the Chairwoman of Le Bao Minh Company.

In the first 6 months of 2024, Le Bao Minh's net revenue from sales and service provision reached VND939 billion, up 22% over the same period last year. However, due to high cost of goods sold and operating expenses, Le Bao Minh suffered a net loss and almost suffered a net loss in the first 6 months of 2024 if it had not had other profits of more than VND20 billion. As a result, Le Bao Minh still had a profit of VND6.1 billion after tax in the first half of 2024, down 82% over the same period in 2023.

Previously, Le Bao Minh's after-tax profit for the whole year of 2023 reached only 11.6 billion VND, down 79%.

Having been the official and exclusive distributor of Canon products in Vietnam since 2003, Le Bao Minh will no longer distribute Canon imaging equipment in Vietnam by early 2024. This activity will be replaced by Canon Marketing Vietnam Co., Ltd. Le Bao Minh will continue to be the distributor of Canon Office Equipment and Printing Equipment products in the Vietnamese market and Canon Marketing Vietnam will continue to coordinate with Le Bao Minh to provide warranty and after-sales services for genuine Canon products.