Viglacera: Many member companies hold General Meeting of Shareholders

Last week, 7 member companies of Viglacera Corporation - JSC held the 2025 Annual General Meeting of Shareholders..

Member enterprises of Viglacera Corporation - JSC hold the 2025 Annual General Meeting of Shareholders

The shareholders' meetings at member units took place in accordance with regulations, with the full participation of shareholders, the Board of Directors, the Supervisory Board and the Company's Board of management. The meetings focused on analyzing the causes and results of production and business activities in 2024, providing solutions for 2025 in the spirit of respecting the law and protecting the legitimate and sustainable interests of shareholders.

It should be noted that 2024 is a year with two specific difficulties: The whole market is in difficulty for the first 9 months of the year, and then there is the "rebound" after Typhoon Yagi. These are unprecedented challenges. However, the direction from the Board of Directors of the companies and the production and business management boards at the enterprises have made every effort to bring about the most feasible results..

The results of the General Meeting of Shareholders at Viglacera enterprises all showed a high spirit of consensus, unanimously passing many important resolutions, laying the foundation for sustainable development in 2025 and the following years, affirming the transparency and commitment to sustainable development of Viglacera in the coming time..

VIGLACERA TILE TRADING JOINT STOCK COMPANY 

Mr. Quach Huu Thuan - Chairman of the Board of Directors of Viglacera Ceramic Tiles Trading Joint Stock Company received congratulatory flowers

On March 19, 2025, the Annual General Meeting of Shareholders of Viglacera Tiles Trading Joint Stock Company was held.

In the 2024 Business Performance Report and 2025 Business Plan, Mr. Mai Xuan Duc - Member of the Board of Directors, General Director of Viglacera Tile Trading Joint Stock Company said: "In 2024, consumption in the whole market will stagnate, the operating capacity of ceramic tile factories nationwide will average 50-60%, maximum 80%. Many companies will reduce capacity, compete strongly on price”.

In such a context, Viglacera Tiles Trading Joint Stock Company has proactively coordinated with production units in the Ceramic Tiles Department to promptly adjust production plans to match actual consumption, ensuring financial safety and inventory for the Factories..

In 2024, Viglacera Tile Trading Joint Stock Company achieved some remarkable results: The Company's net revenue in 2024 completed the revenue plan, pre-tax profit reached 212% of the plan. 2024 is a year in which Viglacera autoclaved aerated concrete products achieved great success. In addition to completing 104% of the committed revenue with the manufacturing unit, inventory was also reduced by 14.7 billion VND. Export turnover increased by 7% of the plan compared to 2023.. 

Viglacera branded tile products have conquered the most demanding markets such as Japan, USA, UK, Australia... and affirmed the No. 1 position in exporting Porcelain in Vietnam.

The 2025 Annual General Meeting of Shareholders of Viglacera Tiles Trading Joint Stock Company also elected new Board of Directors according to Decision No. 55/TCT-HĐQT dated March 14 of the Board of Directors of Viglacera Corporation, accordingly, Mr. Tran Manh Huu ceased to be a member of the Board of Directors and ceased to hold the position of Chairman of the Board of Directors. Election results: Mr. Quach Huu Thuan - Deputy General Director of Viglacera Corporation, member of the Board of Directors of the Company replaced Mr. Tran Manh Huu as Chairman of the Board of Directors. Mr. Nguyen Chi Hoa, Director of Viglacera Hanoi Joint Stock Company, was also elected by the General Meeting of Shareholders to the position of member of the Board of Directors of the Company.

VIGLACERA THANG LONG JSC: Paying 15% cash dividend - Many financial indicators have impressive growth

Members of the General Meeting of Shareholders of Viglacera Thang Long Joint Stock Company

On March 20, Viglacera Thang Long Joint Stock Company held its 2025 Annual General Meeting of Shareholders. Here, shareholders were delighted to receive financial indicators showing signs of growth, showing that production and business efficiency has significantly improved compared to 2023 and the previous period.

Specifically in 2024: Pre-tax profit reached 15,257 billion VND, equal to 305% of the annual plan and 296% compared to 2023. Net revenue reached 630,257 billion VND, equal to 110% of the annual plan and 109% compared to 2023. Average income per employee was 15.33 million VND/person/month, equal to 112% of the annual plan and 115% compared to 2023.

The most significant improvements of the Company in the past year include the application of technology and R&D to reduce the price of glaze mixes from 4.2% to 5%; Implementing equipment improvements to increase production capacity, reduce labor, improve working conditions and environment with a total estimated profit value of 1.2 billion VND; Developing many new products such as F-Aurora tiles, ridge tiles, SQ edge tiles, multicolor nibs and digital printing, along with tile accessories. Types of tiles for export to the US and solar tiles, etc.

All those efforts bring results not only reflected in revenue and profit but also in the "hidden" indicators behind such as: Owner's equity on total capital increased by 2% compared to 2023; Pre-tax profit margin on net revenue is 2.42% (in 2023 it is 0.89%); after-tax profit margin on total assets is 3.74% (in 2023 it is 1.25%). Indicators of solvency and operating efficiency are all improved such as capital turnover, fixed capital utilization efficiency, etc.

Based on positive business results, the General Meeting decided to pay 2024 dividends at a rate of 15% in cash, while maintaining the view of maximizing benefits for shareholders after setting aside bonus and welfare funds.

In addition, the Congress also elected a replacement member of the Board of Directors according to Decision No. 54/TCT-HĐQT dated March 14, 2025 of Viglacera Corporation - JSC. The Congress voted to approve Mr. Le Duc Tai's resignation as a member of the Board of Directors for the 2024 - 2028 term, and elected Mr. Dang Minh Tam as the representative of the capital of Viglacera Corporation - JSC as a member of the Board of Directors of Viglacera Thang Long Joint Stock Company for the 2024 - 2028 term. Mr. Dang Minh Tam is authorized to manage the capital contribution of the Corporation, equivalent to 9.07% of the charter capital of Viglacera Thang Long Joint Stock Company.

VIGLACERA VIET TRI JOINT STOCK COMPANY: Paying 20% ​​dividend in cash

On March 20, 2025, Viglacera Viet Tri Joint Stock Company held the 2025 Annual General Meeting of Shareholders. At the meeting, shareholders highly appreciated the positive financial results, thereby showing that production and business efficiency has improved significantly compared to 2023 as well as previous periods.. 

Overview of the General Meeting of Shareholders at Viglacera Viet Tri Joint Stock Company 

In 2024, the Company achieved important financial results: Pre-tax profit was recorded at VND 11,946 billion, reaching 106% of the plan and increasing by 49% compared to 2023. Net revenue reached VND 199,968 billion, equivalent to 112% of the annual plan and increasing by 115% compared to the same period last year. Average income of employees reached VND 15.66 million/person/month, equivalent to 102.7% of the plan and increasing by 11.1% compared to 2023. These figures reflect that corporate governance is becoming more effective, while finding a way to develop in difficult times.

To serve the export target, the Company continues to maintain and expand cooperation with international partners to meet strict standards such as ASME (USA) and KS (Korea), creating favorable conditions for exporting to major markets such as the US and Korea. The ISO 9001 and ISO 14001 quality management systems are strictly maintained, while applying international quality control standards such as Australia Watermarks, Standard Marks, PS Marks and SASO (Saudi Arabia). The Company also affirms its membership of the Sedex Smeta organization in compliance with the principles of business ethics and social responsibility.

These efforts have brought comprehensive results, not only reflected in revenue and profit but also in other important financial indicators. The ratio of equity to total capital increased by 10.5% compared to 2023; the ratio of pre-tax profit to net revenue reached 6.0%, higher than 4.5% of the previous year; the ratio of after-tax profit to total assets reached 10%, improved from 6.1% in 2023. These indicators are contributing to the goal of capital preservation, ensuring stable production and profitable business activities, consolidating a solid financial foundation.

Based on the results achieved, the Congress approved the decision to pay 2024 dividends at a rate of 20% in cash. 

The General Meeting of Shareholders also completed the Company's Board of Directors with a new structure: Mr. Nguyen Van Tien - Chairman of the Board of Directors (replacing Mr. Nguyen Minh Khoa). Mr. Le Anh Tuan - Member of the Board of Directors and General Director of the Company; Mr. Nguyen Viet Cuong - Member of the Board of Directors (replacing Mr. Nguyen Manh Hieu); Mr. Khuat Quang Thuc - Member of the Board of Directors; Ms. Nguyen Thi Thanh - Member of the Board of Directors.

VIGLACERA HA LONG: Amending the Charter and Electing 3 additional members to the Board of Directors

On March 23, 2025, Viglacera Ha Long Joint Stock Company held the 2025 Annual General Meeting of Shareholders. The meeting approved the report of the Board of Directors, the report of the Executive Board and the report of the Board of Supervisors on the results of operations in 2024 and the orientation of operations in 2025.

Members of the General Meeting of Shareholders of Viglacera Ha Long Joint Stock Company 

Reports at the Congress showed that, in the past year, Viglacera Ha Long was one of the Corporation's enterprises that suffered two unfavorable factors at the same time: Unprecedented challenges in the market for traditional products, and especially the extremely severe consequences of Typhoon Yagi. This is the double reason why the main goals in the 2024 business plan were not completed. This means that the Company faced a situation of negative after-tax profit for 2 consecutive years, forcing the Company's Board of Directors and the Corporation's Board of Directors to strengthen control and support measures.

Facing the long-term interests of shareholders, the policy of the Board of Directors from 2025, the Company needs to innovate comprehensively and comprehensively. First of all, separate the roles of the Board of Directors and the Executive Board, aiming to ensure effective management, avoid conflicts of interest and protect transparency in the Company's operations.

Focusing on urgent tasks, promoting the sustainable development of the Company, the 2025 Annual General Meeting of Shareholders of Viglacera Ha Long Joint Stock Company has approved the amendment of the Company's Charter, with 2 basic points: First - amend the content in Clause 1, Article 26: "The number of members of the Board of Directors is 07 people" to "The number of members of the Board of Directors is 05 people". Second, amend the content in Clause 1, Article 35: "The Board of Directors appoints one (01) member of the Board of Directors as General Director" to "The Board of Directors appoints one (01) member of the Board of Directors or hires another person as General Director”.

Accordingly, the 2025 Annual General Meeting of Shareholders dismissed members of the Board of Directors who had previously submitted their resignations on March 13. At the same time, 3 new members were elected to the Board of Directors, namely Mr. Quach Huu Thuan - Deputy General Director of Viglacera Corporation - JSC; Mr. Dang Minh Tam - Director of Viglacera Automobile Packaging and Brake Pads JSC; Mr. Le Dinh Tai - Deputy General Director of Viglacera Ceramic Tiles Trading JSC. Mr. Nguyen Duc Luyen holds the position of Chairman of the Board of Directors of the Company.

To ensure the completion of the Company's production and business plan in 2025 with a profit of VND 1.55 billion instead of a loss of VND 60.826 billion in 2024, the Board of Directors and the Executive Board proposed a number of immediate solutions in the early stages of 2025 and are gradually proving to be effective in practice.

Mr. Dinh Quang Huy - member of the Board of Directors spoke at the General Meeting of Shareholders about urgent tasks and solutions to reduce costs and improve the competitiveness of the Company's products. According to Mr. Dinh Quang Huy - these are key issues that the new Board of Directors of Viglacera Ha Long and the Executive Board need to urgently carry out, in order to quickly bring the Company's position and sustainable benefits to shareholders. Hopefully, Viglacera Ha Long, a unit with a good brand and production foundation, with a large domestic and foreign market, will quickly regain its strength and development opportunities in difficult times.

The 2025 Annual General Meeting of Shareholders of Viglacera Ha Long Joint Stock Company was a great success with the high consensus and unanimity of the attending shareholders.