Ahead of the 2023 Annual General Meeting: VIMID Targets Revenue of VND 4,400 Billion

Following its official listing of 20.5 million shares on the UPCoM under the ticker symbol VVS in October 2022, Vietnam Machine Investment Development Joint Stock Company (VIMID) is now preparing to hold its first Annual General Meeting of Shareholders (AGM) since being recognized as a public company — an event drawing significant attention from investors.

Ready for a special Annual Meeting

In line with the period where all Vietnam’s listed companies holding their annual general meeting of shareholders, VIMID has completed all necessary preparations for the 2023 Annual General Meeting, which will be held at 8:00 AM on Saturday, April 22, 2023, at Hall P406, 4th Floor, Nam Cuong Building, Nguyen Thanh Binh Street, Duong Noi New Urban Area, La Khe Ward, Ha Dong District, Hanoi.

VIMID has completed all preparations for the 2023 Annual General Meeting

The meeting will cover major discussion points, including the 2022 business performance report, the 2023 business plan, profit distribution for both years, and the selection of the auditing firm to review the company’s 2023 financial statements.

Additionally, the meeting will address shareholder-related matters, such as remuneration for the Board of Directors (BOD) in 2022, remuneration plan for 2023, dividend payments for 2022, and the issuance of employee share incentive. Notably, shareholders will also discuss raising the foreign ownership limit to 49% and adjusting the company’s registered business sectors.

VIMID’s 2023 Annual General Meeting is expected to welcome a large number of shareholders and delegates. All information related to the meeting will be transparently and continuously updated by VIMID through official media and press channels.

Encouraging Business Performance

According to shareholders and company leadership, VIMID has maintained strong fundamentals both before and after becoming a public company. In 2022, the company achieved an amount of VND 35.25 billion of profit before tax, an increase of VND 13.26 billion (over 60%) compared to 2021 — the highest profit in the company’s history. This solid performance provides a strong foundation for VIMID’s ambitious goal of reaching VND 4,400 billion in revenue in 2023.

VIMID continues to enhance its services and expand its nationwide network of branches and service stations.

Beyond financial results, VIMID continues to demonstrate its growth through nationwide expansion of branches and service stations, alongside diversified products and enhanced services. The company also emphasizes innovation and digital transformation, integrating Industry 4.0 technologies to optimize productivity, improve management efficiency, and foster an ideal working environment with standardized operational procedures.

Thanks to the dedication of its employees and the strategic direction of the leaders, VIMID has firmly established itself as a leading enterprise, recognized as the first company approved for public listing in 2022.

Notably, in the same year, VIMID’s brand reputation grew significantly as it was ranked among Vietnam’s Top 500 Largest Enterprises (VNR500) and placed 43rd in the Top 50 Fastest-Growing Enterprises (FAST500) by Vietnam Report.

With these strong achievements, VIMID looks forward to a successful Annual General Meeting of Shareholders that will mark another milestone in its development journey — continuing to create value for shareholders, employees, and partners, and contributing to Vietnam’s overall economic prosperity.