VIMID 2023 ANNUAL GENERAL MEETING OPENS A NEW DEVELOPMENT CYCLE: MORE BREAKTHROUGHS, GREATER DYNAMISM

On April 22, at Hall P406, Nam Cuong Building (Ha Dong, Hanoi), the 2023 Annual General Meeting of Shareholders of Vietnam Machine Investment Development Joint Stock Company (VIMID) was successfully held. The meeting approved multiple key documents with nearly 100% of votes in favor, reflecting shareholders’ strong consensus and trust in the company’s development direction, as well as in the leadership of the Board of Directors and the executive team.

United for a stronger and thriving VIMID

VIMID’s 2023 meeting took place in a solemn and professional atmosphere, attended by Chairwoman of the Board of Directors, Ms. Nguyen Thi Thu Huyen; Vice Chairman of the Board, Mr. Nguyen Vu Tru; and a large number of shareholders. Thanks to meticulous preparation, the meeting was organized smoothly, with shareholders welcomed thoughtfully, ensuring the meeting proceeded exactly as planned.

Shareholders attending the meeting received thoughtful guidance and warm reception

Shareholders attending the meeting received thoughtful guidance and warm reception

Throughout the three-hour session, the meeting addressed and approved key items, including: The 2022 business performance report; The 2023 business plan; 2022 profit distribution and the 2023 profit distribution plan; Selection of the auditing firm to audit the company’s 2023 financial statements; 2022 Board of Directors remuneration and the 2023 remuneration plan; 2022 dividend payment; Issuance of preferential shares to selected employees.

Mr. Nguyen Vu Tru, Vice Chairman of the Board of Directors and Chairman of the meeting, presented the Board of Directors’ report and the 2022 business performance report.

Mr. Chu Quang Huy, Independent Member of the Board of Directors and Chairman of the Audit Committee, presented the assessment report from the independent Board members within the Audit Committee, as well as the proposals submitted to the 2023 Annual General Meeting of Shareholders.

Shareholders engaged in lively discussions, providing high-quality input and suggestions for the meeting.

Shareholders cast their votes at the meeting.

With a Spirit of open discussion and direct responses, shareholders’ concerns were fully addressed. During the meeting, shareholders engaged in frank discussions and received direct answers from the Board of Directors to all questions raised. The meeting concluded with final resolutions passed with unanimous approval, reflecting a shared determination to elevate VIMID to new heights, achieve breakthrough revenue growth, and continue contributing to socio-economic development.

Highlights of the 2023 Action Plan

According to the 2022 performance report, VIMID successfully overcame market challenges to achieve impressive revenue, surpassing VND 4,000 billion for the first time since its founding. Net profit after tax in 2022 increased by 64.71% compared to 2021, reaching over VND 28 billion.

Continuing to grow, despite acknowledging that 2023 will remain challenging, VIMID has set an ambitious revenue target of VND 4,400 billion. The company’s core focus for the year will continue to be the importation and trading of tractor units, dump trucks, and medium to heavy-duty trucks – its key strengths.

In addition, VIMID will continuously research and develop new product categories, expand market reach to better meet the evolving needs of customers in Vietnam, strengthen partnerships with suppliers, and complete the nationwide development of 3S-standard branch/service stations, ensuring a maximum distance of 100 km between stations for timely, convenient, and responsive service.

Notably, in 2023, VIMID will accelerate the deployment of e-commerce platforms to enhance sales efficiency, fully leverage market demand, and build a community of VIMID truck users as a foundation for developing a comprehensive ecosystem. This will support the company’s mission to provide customers with the most complete transportation solutions.

Chairwoman Nguyễn Thị Thu Huyền presents flowers to Mr. Nguyễn Vũ Trụ – Chairman of the meeting, and Mr. Chu Quang Huy – Chairman of the Audit Committee

VIMID’s Board of Directors and Shareholders united in determination for breakthrough growth

With the close attention and guidance of the Board of Directors, the cooperative support of shareholders, and the trust and support of valued customers and partners, VIMID is looking forward to a remarkable 2023. The company aims to achieve outstanding milestones and move closer to its goal of becoming one of the Top 3 leading truck manufacturing and trading groups in Vietnam.