Viet Tien achieves profit of over 200 billion VND in 2022

On April 28, in Ho Chi Minh City, Viet Tien Garment Joint Stock Corporation (Viet Tien) held its 2023 Annual General Meeting of Shareholders. On this occasion, Viet Tien elected members of the Board of Directors and Supervisory Board for the 2023-2027 term. Members of the Board of Directors and Supervisory Board of Viet Tien for the 2023-2027 term. Attending the Congress were Mr. Vu Duc Giang - Chairman of the Vietnam Textile and Apparel Association (Vitas), Chairman of the Board of Directors of Viet Tien; Mr. Le Tien Truong - Chairman of the Board of Directors of Vietnam Textile and Garment Group (Vinatex); Mr. Bui Van Tien - General Director of Viet Tien along with members of the Board of Directors, Executive Board, Directors of member units, key officers of units under the Corporation and representatives of shareholders. Reporting at the Congress, Mr. Bui Van Tien - General Director of Viet Tien said that in 2022, the domestic and world economic situation continuously reversed, along with high salary costs, narrowing markets and customers, which affected the efficiency of the Corporation's production and business activities. However, with the sharpness and determination of the Board of Directors, the Executive Board, together with the solidarity and efforts of all employees, the Corporation has completed the targets on production and business activities according to the Resolution of the 2022 General Meeting of Shareholders and the Board of Directors. Specifically, revenue reached VND 8,462 billion, exceeding 30% of the plan, exceeding 40.9% over the same period; Pre-tax profit reached VND 209 billion, exceeding 39.5% of the plan and 108.5% over the same period; Average income reached more than VND 11.3 million/person/month, up 22.6% over the same period; Expected dividend is 25%. In 2023, the domestic and world economic situation is forecasted to face many difficulties, in that context, maintaining stability in labor, market, customers, ensuring jobs for employees, and maintaining production activities are the core tasks of the Corporation. In 2023, Viet Tien aims to achieve revenue of VND 8,030 billion (equal to 95% compared to 2022); Pre-tax profit of VND 200 billion (equal to 96% compared to 2022); Average income of employees reaching VND 11.5 million/person/month. Mr. Vu Duc Giang - Chairman of Vitas, Chairman of the Board of Directors of Viet Tien spoke at the Congress. On behalf of the Board of Directors, Mr. Vu Duc Giang - Chairman of Vitas, Chairman of the Board of Directors of Viet Tien highly appreciated the sense of responsibility, concern and sharing of shareholders, especially major shareholders Vinatex, South Island. "In the coming time, Viet Tien will implement the strategy of developing human resources, arranging and restructuring the management model of the Corporation, and at the same time promoting financial restructuring to ensure cash flow for operations in the entire system. Implement the goal of diversifying markets, diversifying products and customers. Building solutions on technology, digital management, management software to create transparency and timely control of the activities of the parent company and units in the entire system. Viet Tien calls on all employees of the Corporation and shareholders to join hands to share, accompany, and unite to overcome difficulties and challenges to help Viet Tien continue to stand firm and develop" - Chairman of the Board of Directors of Viet Tien emphasized. Chairman of the Board of Directors of Vinatex Le Tien Truong gave a speech at the Congress. Speaking at the Congress, Mr. Le Tien Truong - Chairman of the Board of Directors of Vinatex commented that in the 2023 - 2027 term, Viet Tien will face many difficulties. Changes in behavior and key products for the Vietnamese textile and garment industry will not coincide with Viet Tien's strategic strengths, requiring the unit to flexibly transition to a stage of adapting to the market and niche products that are completely different from before. In addition, Viet Tien is located right in the center of Ho Chi Minh City, so labor costs are high but it is difficult to recruit workers... Therefore, in the 2023 - 2027 term, the Board of Directors and the Executive Board of Viet Tien need to focus on developing resources in a streamlined, efficient direction, with competitive remuneration to attract high-quality human resources... The Congress listened to the contents of the report on production and business results and the financial report of the Corporation in 2022; unanimously voted on profit distribution and fund allocation for 2022; Report on selecting an independent auditor for the 2023 financial statements... 100% of shareholders approved the Resolution of the Congress. Also on this occasion, the Congress elected a Board of Directors of 5 members, Mr. Vu Duc Giang holds the position of Chairman of the Board of Directors of the Corporation; Elected 3 members of the Board of Supervisors, Ms. Thach Thi Phong Huyen holds the position of Head of the Board of Supervisors for the term 2023 - 2027. Source: https://www.viettien.com.vn/vi/tin-tuc/tin-thi-truong/viet-tien-dat-loi-nhuan-hon-200-ty-dong-nam-2022