Annual General Meeting of Shareholders of Traphaco Joint Stock Company in 2021

31 3 / 2021
Đăng bởi: lovebird21c

Annual General Meeting of Shareholders of Traphaco Joint Stock Company in 2021

shared via Traphaco,
On March 31st, 2021, Traphaco Joint Stock Company (symbol: TRA) successfully held the 2021 Annual General Meeting of Shareholders with the percentage of shares with the rights of voting reached 96.12%.

Mr. Tran Tuc Ma - Member of the Board of Directors, CEO presents to the Congress the Report on the Company's performance results in 2020 and the Company's direction of operation in 2021. 2020 is a year with lots of pressure for Traphaco. The Company has attempted to exceed the target of consolidated profit. Although the revenue is not completed, the growth of 12% year-on-year is one of the best growing pharmaceutical companies in the industry.

Also in 2020, the Company has implemented many major activities such as: proactively responding to the COVID-19 epidemic, building and applying Traphaco Culture in a new phase, enhancing marketing innovation, implementing orientation of generic products development, hire KPMG consultants and coordinate with Daewoong partners to evaluate the Company's core competencies, implement cost limits, ensure 30% dividend payment, increase employee income 10%, technology transfer and other activities.

Next, Mr. Nguyen Anh Tuan - Vice Chairman of the Board of Directors presents to the Congress the Report on the Company's performance for the term of 2016-2020 and the Company's development orientation for the period of 2021-2025. Accordingly, in the period 2016 - 2020, the Company has achieved many positive results as a premise for the new development period 2021-2025. Although in the period of 2018-2019, after putting Traphaco Hung Yen Factory into commercial operation in 2017, the Company incurs large costs, which makes the Company have to cut down on sales support costs to reduce Revenue in the period of 2018-2019 and profit will also be deeply affected. However, the Company has adjusted and restored revenue and profit from 2020, back to growth.

The AGM agreed to approve the contents, specifically: Report of 2020 and the term of 2016-2020 of the Board of Directors, Board of Supervisors, audited consolidated financial statements; Orientation and missions for 2021; Profit distribution plan for 2020 and expected 2021, Report on the Company's performance for the term of 2016-2020, Development orientation of the Company in the period of 2021-2025. The meeting approved business plans, including consolidated revenue targets of 2,100 billion VND, an increase of 10% compared to 2020, consolidated profit after tax was 240 billion VND, an increase of 11% compared to 2021. 

The General Meeting of Shareholders in 2021 elects the Board of Directors and the Board of Supervisors for the term 2021-2025. The following results:

Entering the term of 2021-2025, the Board of Directors clearly expresses ambition with a rather challenging growth direction: The overall revenue growth rate of the whole Company according to the plan will increase with a compound growth rate of 13.3%, while revenue is set for rapid growth target, gross profit target is also expected to have corresponding growth., maintained at 48%, profit after tax has growth rate of 15%, represents target quickly enhancing operational efficiency, increasing technology usage and optimizing resource use.

Mr. Tran Tuc Ma, CEO of the Company shared, Traphaco defined 2021 as the year of "Standardization of Processes", in which the Company focused on upgrading and improving ineffective working processes, promoting core strengths.

The congress was great successful, took place in accordance with the annual plan of Traphaco, in accordance with the law, demonstrated the activeness of the organization, guaranteed shareholder rights, decision of development of Traphaco, practice the rights and responsibility of shareholders in accordance with the law.
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