DUC THANH WOOD: CONFIDENTLY IDENTIFY THE BRAND WITH ITS OWN WAY
DUC THANH WOOD: CONFIDENTLY IDENTIFY THE BRAND WITH ITS OWN WAY
In the context of the global economy being heavily affected by inflation and the Russia-Ukraine war, the epidemic is still lurking and threatening, a series of companies are on the verge of bankruptcy. Facing these difficulties, GDT still finds ways to maximize its potential, find suitable solutions, and ensure sustainable development. GDT's Annual General Meeting of Shareholders held on March 25th was one of the actions that demonstrated the unit's fierceness on the path of its own brand identity.
Overview of the 2023 Annual General Meeting of Shareholders of Duc Thanh Wood Joint Stock Company in the morning of March 25th
On the morning of March 25, the 2023 Annual General Meeting of Shareholders of Duc Thanh Wood Joint Stock Company (HOSE: GDT) took place with the content revolving around the strong growth business plan of 2023 and the plan of private placement for investors. suppliers and partners of the Company. As usual, every year shareholders come to attend in large numbers, reaching the ratio to conduct the meeting right from the first round.
As Ms. Le Hai Lieu, Chairman of the Board of Directors of the Company, said that 2022 is a year "unlike any other year", but GDT does not flinch because of that, on the contrary, the unit has been and is increasingly trying to cope with difficulties. difficulties, gradually adapting to the present to reach the ultimate goal of being successful on the journey they choose, so that the unit revenue reached VND 400 billion, an increase of 18% compared to the same period in 2021, a net profit of more than 69 billion, up 13.7% over the same period. Regarding the profit distribution plan in 2022, the company adjusted the dividend payout ratio to 30% compared to the expected 40%.
Ms. Le Hai Lieu, Chairman of the Board of Directors of GDT Company took a souvenir photo
It can be said that, in addition to the numbers that are more successful than expected, GDT is still confident that it has adapted to the current context. Of course, as Ms. Lieu said, the revenue target of VND 520 billion, an increase of 30% over the same period in 2022 and a profit after tax of VND 83.2 billion, an increase of 20% over the same period in 2023 is "in the next year". reach".
Mr. Nguyen Hoang Ngan, former CEO of Binh Minh Plastic Company, recently retired (the one holding flowers) has just been elected as a new member of the Board of Directors of GDT.
Because, with inherent experience and potential capacity, GDT has gradually applied it to suit reality. Especially to bring the desire to sell products under Duc Thanh's brand, with the "made in Vietnam" origin gradually becoming a reality, the company has started a sales strategy in close markets such as India, Laos, Thailand, Cambodia, Malaysia and Indonesia instead of "hit directly" on the European and American markets.
As someone who has experienced many crises over the past 30 years, Ms. Lieu said that "there is still not much light ahead". However, female leaders know that any crisis will have an end and it is GDT's job to always be ready when the crisis is over to prepare for the time when the market gets better again. As Ms. Lieu said, "after the crisis, businesses are very "thirst" for goods because during the crisis, they do not dare to buy. So when the crisis is over, whoever is ready will win big.”
The opinions of shareholders are also very enthusiastic
In addition to preparing mentally for the "battle" to confront the immediate difficulties, GDT has also prepared three key elements "necessary" and "enough" for spectacular comebacks, which are raw materials. materials, personnel and factory premises. Specifically, the acquisition of the factory by Duc Tam export wood processing company in 2022 has contributed to bringing the total number of GDT factories to 5, the unit is also continuing to expand 2-3 factories. Along with proactively setting out policies to stimulate consumer demand, such as reducing prices, sharing with customers to stimulate orders, with the goal of finding jobs for employees. Currently, GDT has orders until May 2023, and is setting out a strategy to develop furniture for the domestic and export markets, in addition to key products such as household appliances, kitchens, and toys.
Duc Thanh wood factory (Source: GDT)
Also at the meeting, shareholders approved the plan to issue more than 1 million shares, the expected offering price is 20,000 VND/share for 65 suppliers and partners of Duc Thanh Wood. Private placement shares will be restricted from being transferred for 3 years from the date of completion of the offering, instead of 5 years as previously proposed.
The company is estimated to earn 21.3 billion dong after successfully issuing private shares. Duc Thanh Wood plans to spend 16 billion VND to buy materials such as wood, varnish, glue, packaging materials, and 5.3 billion VND to buy other materials, tools, etc.
In addition, the unit will cancel the sale of 259,810 treasury shares in the form of a private placement of shares to 4 strategic investors.
At this meeting, the General Meeting of Shareholders approved the additional election of Mr. Nguyen Hoang Ngan as an independent member of the Board of Directors to replace Mr. Tran Xuan Nam who had just resigned on November 24, 2022. It is known that Mr. Ngan is currently the Vice Chairman of the Board of Directors of Binh Minh Plastic Joint Stock Company (HOSE: BMP).
Hoang Chau
Source vietnamhoinhap.vn 27/3/2023