VIMID Successfully Held 2025 Annual General Meeting of Shareholders: VVS opens up a new expansionary phase

On April 19, 2025, in Hanoi, Vietnam Machine Investment Development Joint Stock Company (VIMID – stock code: VVS) successfully held its 2025 Annual General Meeting of Shareholders (AGM). The meeting was attended by 122 shareholders, representing more than 21,457,609 voting shares, equivalent to 99.69% of the total voting shares.

Present at the meeting were Ms. Nguyễn Thị Thu Huyền – Chairwoman of the Board of Directors of VIMID, Mr. Nguyễn Vũ Trụ – Vice Chairman of the Board, members of the Board of Directors, Head of the Supervisory Board, representatives of the company’s management, and 122 shareholders and authorized representatives, collectively representing the total number of voting shares eligible to participate in the meeting.

During the session, shareholders discussed and approved several key agendas, including: Business plan of 2025; The 2024 profit distribution plan and 2025 profit allocation proposal; Proposal on the selection of the auditing firm; The proposal on remuneration for the Board of Directors; The dividend payment plan; Amendments and supplements to the Company’s Charter in line with current legal regulations; The proposal on investment policy for the Truck Manufacturing and Assembly Project; The proposal to continue the registration and listing of VIMID (VVS) shares on UPCOM at the Ho Chi Minh City Stock Exchange (HOSE); and Amendments and supplements to the Company’s Internal Corporate Governance Regulations and the Operating Rules of the Board of Directors.

Board members moderating the meeting

VIMID targets VND 4,200 Billion in Revenue and VND 90 Billion inProfit before tax for 2025

At the Annual General Meeting, Mr. Nguyễn Vũ Trụ – Vice Chairman of the Board of Directors and CEO of VIMID – reported that in 2024, the company focused on mobilizing its entire system to operate with maximum efficiency and flexibility, implementing adaptive solutions suited to real market conditions. Despite economic fluctuations, VIMID successfully enhanced operational efficiency, optimized resources, and maintained sustainable growth while ensuring shareholder benefits, employee welfare, and compliance with tax obligations.

As of December 31, 2024, all key business indicators of VIMID surpassed the targets approved by the previous Annual General Meeting: Total assets reached VND 2,315 billion, up 23.78% (equivalent to VND 445 billion) compared to 2023; Net profit after tax tripled, rising from VND 17 billion in 2023 to VND 68 billion in 2024; Net revenue grew nearly 60%, from VND 2,265 billion to VND 3,609 billion. With these results, VIMID continues to consolidate its position as the market leader in the medium and heavy-duty truck segment in Vietnam.

“We believe that when we approach the market with a realistic mindset and take decisive action, every challenge can become an opportunity,” Shared Mr. Nguyễn Vũ Trụ – Vice Chairman of the Board and CEO of VIMID.

Mr. Nguyễn Vũ Trụ delivered remarks at the Annual General Meeting.

Staying aligned with its strategic vision and management directives, VIMID is resolutely implementing its 2025 business development strategy under the theme “Solid Foundation – Ready to Breakthrough”. The company has set key business targets for 2025, aiming for VND 4,200 billion in revenue and VND 90 billion in pre-tax profit.

Shareholders share high consensus and promising vision

All proposals presented at the meeting were unanimously approved, with 100% of voting shareholders in favor.

A highlight of the meeting was the approval of a cash dividend payout of 10% (equivalent to VND 1,000 per share) — marking the first-ever cash dividend distribution since VIMID’s stock (stock codel: VVS) was listed. This decision not only recognizes the company’s effective operations and transparent governance over the past year but also reaffirms VIMID’s commitment to protecting and enhancing shareholder value.

In addition, shareholders approved the investment plan for a truck manufacturing and assembly plant covering 10–15 hectares, with a total investment of approximately USD 50 million. This project represents a strategic milestone that underscores VIMID’s long-term vision and proactive efforts to upgrade its value chain. The establishment of the plant will allow VIMID to better control its supply chain, ensure product quality, optimize production costs, and pave the way for the development of green and electric trucks — aligning with global energy transition trends and further reinforcing VIMID’s pioneering role in advancing Vietnam’s transportation industry.

The 2025 VIMID Annual General Meeting of Shareholders

At this year’s meeting, shareholders approved the plan to list all outstanding shares of the company (upon approval from regulatory authorities) on the Ho Chi Minh City Stock Exchange (HOSE). The listing on HOSE will not only elevate VIMID’s position in the centralized securities market but also enhance the company’s visibility among investors, particularly foreign investors. This milestone represents an important opportunity for VIMID’s stock to reflect its true market value, strengthen the company’s credibility, and maximize value for shareholders.

The proposal to list VVS shares on HOSE received overwhelming approval from shareholders. Beyond advancing VIMID’s standing in the stock market, the move is expected to broaden investor awareness, attract international capital, and further affirm VIMID’s corporate reputation. The listing will also help ensure that VVS shares are valued accurately, delivering long-term benefits to shareholders.

Additionally, the meeting approved several amendments and additions to the company’s Charter, Internal Corporate Governance Regulations, and Board of Directors’ Operating Rules. These updates aim to optimize management efficiency, enhance compliance, and align VIMID’s governance framework with current legal requirements, supporting the company’s strategic growth direction in the coming years.

The 2025 VIMID Annual General Meeting of Shareholders received full approval from shareholders for presented content.

The VIMID Board of Directors reaffirmed their commitment to implementing comprehensive solutions aimed at enhancing corporate governance, strengthening risk management, promoting digital transformation, advancing investment projects, optimizing operational efficiency, and improving customer experience. These initiatives are designed to ensure that VIMID successfully fulfills all tasks and business targets assigned by the General Meeting of Shareholders, thereby driving sustainable growth in the years ahead.

The 2025 VIMID Annual General Meeting of Shareholders concluded with strong consensus and a spirit of innovation and renewal. The approved resolutions not only pave the way for a new growth phase but also demonstrate VIMID’s long-term strategic vision – one that places sustainable growth and operational excellence at its core.

Marking VIMID’s 15th anniversary, the year 2025 stands as a significant milestone in the company’s journey. Looking ahead, despite the challenges and uncertainties that may arise, VIMID remains confident that with a solid foundation and the support of shareholders, customers, and partners, the company is ready to break through and realize its strategic goals, not only for 2025 but for the many successful years to come.