2024 ANNUAL GENERAL MEETING OF SHAREHOLDERS: VIMID DRIVES SUSTAINABLE GROWTH AND ENHANCES OPERATIONAL EFFICIENCY IN EVERY ACTION

Hanoi, April 20, 2024 – Vietnam Machine Investment Development Joint Stock Company (VIMID) successfully held its 2024 Annual General Meeting of Shareholders (AGM), with an almost unanimous approval rate on all agenda items. The meeting took place at Hall P406, Nam Cuong Building, Ha Dong District, Hanoi.

The Board of Directors and Shareholders of VIMID stand united in their commitment to enhancing efficiency in every action.

Attending the meeting were major shareholders including Ms. Nguyen Thi Thu Huyen – Chairwoman of the Board of Directors, Mr. Nguyen Vu Tru – Vice Chairman of the Board of Directors. Representing M&A Holding, Mr. Nguyen Thanh Binh – Member of the Board of Directors was also present. The meeting was attended by 138 shareholders, representing 99.8% of the total voting shares, ensuring the legitimacy and full representativeness of the meeting.

Mr. Nguyen Vu Tru – Chairman of the Meeting, and Mr. Chu Quang Huy – Chairman of the Board of Supervisors.

Key highlights of the 2024 annual general meeting of shareholders:

Business Performance Report for 2023: The year 2023 presented significant global economic challenges. As a highly open economy, Vietnam was deeply affected by global market fluctuations. VIMID, too, faced considerable pressure in navigating this demanding environment.

Throughout 2023, VIMID focused on research and development of new products, enhancing the quality of its products and services, and expanding its network of 3S-standard branches and service stations across key regions. In addition, the company’s leaders adapted its business strategies in line with market dynamics, introduced solutions to achieve sales targets, and maintained effective financial management and cost control in accordance with the approved annual budget.

Despite the difficult market conditions, VIMID remained among the Top 500 largest enterprises in Vietnam and was honored with the “Strategic Partner of Shandong Heavy Industry Group” Award — the parent company of SINOTRUK. The company was also recognized by the People’s Committee and Customs Department of Lang Son Province as one of four exemplary enterprises for its proactive participation in the pilot program for voluntary compliance with Vietnam’s customs regulations.

In terms of financial results, VIMID recorded total revenue of VND 2,274 billion in 2023, achieving 52% of the pre-tax profit target set at the beginning of the year.

Mr. Nguyễn Vũ Trụ – Vice Chairman of the Board of Directors and Chairman of the Meeting – presented the Board of Directors’ Report and the 2023 Business Performance Report.

Development strategy for 2024–2025: A breakthrough opportunity for VIMID

As the leading company in Vietnam’s medium and heavy-duty truck segment and with a vision to enter the Top 3 truck brands nationwide by 2025, VIMID continues to accelerate its growth strategy, aligning with market trends and capitalizing on emerging opportunities to reinforce its leading position.

• Product Development: VIMID remains committed to researching and developing new truck models, spare parts, and service solutions tailored to the needs of Vietnamese customers and suited to the country’s diverse terrain, climate, and regulatory requirements. Looking ahead to the 2026–2030 period, the company aims to pioneer the development of environmentally friendly trucks, electric trucks, and smart transportation solutions under a Vietnamese brand. Its long-term goal is to become a leading industrial group in the truck sector, integrating artificial intelligence, robotics, and clean energy applications across Vietnam and the region.
• Market Expansion: The company will continue to broaden its dealership and branch network nationwide, while enhancing marketing and brand promotion activities to strengthen its market presence.
• Service Quality Enhancement: VIMID is dedicated to expanding partnerships and enriching its transportation ecosystem, delivering professional and comprehensive after-sales services to ensure customer satisfaction and loyalty.
• Digital Transformation: To enhance operational efficiency, cost control, and competitiveness, VIMID will accelerate the adoption of digital platforms and e-commerce solutions, digitizing all business and production activities for smarter, data-driven management.
• Human Resource Development: VIMID prioritizes building a professional, highly skilled, and innovative workforce, encouraging continuous learning, creativity, and dedication as the foundation for sustainable growth.

At the conclusion of the General Meeting, all seven proposals submitted by the Board of Directors were approved with an overwhelming 99.9% approval rate. Shareholders also expressed unanimous support (100%) for VIMID’s development direction, growth plan, and sustainable strategy for 2024.

Shareholders raise their voting cards during the General Meeting

Shareholders cast their votes at the General Meeting

Closing the meeting, Mr. Nguyễn Vũ Trụ – Vice Chairman of the Board of Directors and CEO of VIMID – expressed his deep appreciation for the significant contributions, companionship, and support of all shareholders. He noted that 2024 and the coming period will present many challenges, requiring strong determination and concerted efforts from the company’s leadership and employees. VIMID will accelerate the implementation of its 2024 business plan, targeting VND 3,000 billion in revenue and VND 28 billion in profit before tax, while focusing on cost optimization, profit improvement, and employee welfare enhancement.

Mr. Nguyễn Vũ Trụ affirmed his confidence that, with the dedication and responsibility of the Board of Directors, management team, and staff, along with the trust and collaboration of shareholders, customers, and partners, VIMID will continue to achieve new milestones in fulfilling its mission: “To provide comprehensive transportation solutions that meet the highest customer demands and elevate the value of Vietnam’s logistics and transportation industry. We are committed to delivering prosperity and value to our customers, shareholders, employees, and partners, while making a positive contribution to the community.”