Thien Long (TLG) wants to add more people to the Board of Directors of Phuong Nam (PNC)

VHO - Phuong Nam Culture Joint Stock Company (stock code: PNC) has just announced documents for the 2025 Extraordinary General Meeting of Shareholders, the meeting is scheduled to be held on August 2 in Ho Chi Minh City.

Phuong Nam plans to elect 3 additional members to the Board of Directors and 2 members to the Board of Supervisors. Illustrative photo

Phuong Nam presented to shareholders the dismissal of Ms. Nguyen Nhu Quynh, Mr. Vo Thanh Dong Phuong and Mr. Nguyen Duc Long from the Board of Directors; and the dismissal of Ms. Ha Thi Mai Phuong and Ms. Huynh Thi Thanh Truc from the Board of Supervisors.

On the other hand, Phuong Nam plans to elect 3 additional members to the Board of Directors and 2 members to the Supervisory Board for the 2022-2026 term.

The list of candidates for Board of Directors includes Ms. Vo Thi Hoang Quan, Mr. Nguyen Ngoc Trung Chanh, Ms. Tran Tue Tri and Ms. Nguyen Thi Lan; the list of candidates for Board of Supervisors includes Ms. Dang Thi Nhu Lieu and Ms. Nguyen Thi Huong Lan.

This personnel change took place right after Thien Long consolidated its position as the controlling shareholder at Phuong Nam. On June 3, Tan Luc Mien Nam Trading and Service Company Limited, a subsidiary of Thien Long, purchased nearly 5.2 million PNC shares, thereby increasing its ownership ratio from 1.65% to 49.49% of charter capital.

In terms of business performance, both companies show their own pictures. At the end of the first quarter of 2025, Thien Long recorded net revenue of VND 794.4 billion and after-tax profit of VND 78.9 billion, a slight decrease compared to the same period last year. Thien Long's management expects results to grow strongly again in the second quarter, which is the peak business season.

Meanwhile, Phuong Nam is still facing many challenges. In the first quarter of 2025, the company recorded revenue of VND 146.3 billion and after-tax profit of only VND 2.5 billion, almost unchanged compared to the same period. Notably, the gross profit generated was not enough to cover operating costs, the company only escaped losses thanks to financial income.

Previously, at the 2025 General Meeting of Shareholders, Ms. Tran Phuong Nga, General Director of Thien Long, also revealed: “The company is very close to closing an M&A deal. However, Thien Long will not grow at all costs in the context of a complex world change, and will carefully consider the suitability of each deal.”

Source: https://baovanhoa.vn/kinh-te/thien-long-tlg-muon-dua-them-nguoi-vao-hoi-dong-quan-tri-phuong-nam-pnc-157871.html