An Phat Bioplastics Joint Stock Company (Ticker Symbol: AAA) announced that the Board keo ty le 88 Directors has appointed Mr. Nguyen Le Thang Long – a member keo ty le 88 the Board keo ty le 88 Directors as the new Chairman keo ty le 88 the Board keo ty le 88 Directors from June 21, 2022, with the aim keo ty le 88 bringing AAA into a new phase keo ty le 88 development, promoting green transformation and focusing on eco-friendly product line.
Drastic changes in the structure keo ty le 88 AAA’s Board keo ty le 88 Directors
Specializing in the field keo ty le 88 compostable materials, Mr. Nguyen Le Thang Long – who currently holds the position keo ty le 88 Deputy CEO keo ty le 88 An Phat Holdings JSC (Ticker symbol: APH) cum General Director keo ty le 88 PBAT An Phat JSC has been elected as the new Chairman keo ty le 88 the Board keo ty le 88 Directors at An Phat Bioplastics, according to the announcement from An Phat Bioplastics JSC (Ticker Symbol: AAA).
Mr. Nguyen Le Thang Long graduated with a doctorate degree from Ecole Polytechnique – one keo ty le 88 the four prestigious engineering training universities in France. With extensive experience in the field keo ty le 88 bioplastics, Mr. Nguyen Le Thang Long is expected to bring AAA into a new phase keo ty le 88 development, strongly developing compostable product segment with high profit margins, thereby realizing the goal keo ty le 88 green transformation, helping AAA to grow sustainably in the long term.
Mr. Nguyen Le Thang Long has taken over the position keo ty le 88 Chairman keo ty le 88 the Board keo ty le 88 Directors at An Phat Bioplastics JSC from June 21, 2022.
Meanwhile, Mr. Nguyen Le Trung also resigned as AAA’s member keo ty le 88 Board keo ty le 88 Directors to focus on the position keo ty le 88 General Director keo ty le 88 AAA, being responsible for operating production and business activities and giving orientation on production and financial issues keo ty le 88 the Group as Vice Chairman keo ty le 88 An Phat Holdings.
At the same time, Mr. Phan Tri Nghia – former Chairman keo ty le 88 the Board keo ty le 88 Directors keo ty le 88 Vinh Plastic and Bags JSC (Ticker symbol: VBC), who has more than 20 years keo ty le 88 experience in the field keo ty le 88 industrial packaging was also appointed as an independent member keo ty le 88 AAA’s Board keo ty le 88 Directors. Currently, the industrial packaging segment potentially makes a great contribution to AAA’s revenue and profit with high profit margins. Besides, these products are widely consumed, meeting high demands keo ty le 88 manufacturers. In the following years, AAA’s industrial packaging segment is expected to grow strongly while expanding the scale and operating capacity keo ty le 88 existing factories.
The drastic changes in the structure keo ty le 88 AAA’s Board keo ty le 88 Directors during this period shows the determination keo ty le 88 the enterprise in accelerating growth, pursuing green growth strategies, and improving the capacity keo ty le 88 the Board keo ty le 88 Directors through new members. However, the Company’s development orientation will ensure consistency in accordance with the Group’s orientation as the members keo ty le 88 AAA’s Board keo ty le 88 Directors are also key members at APH.
Setting a profit target to increase 63% in 2022
At the Annual General Shareholders’ Meeting taking place earlier in the morning June 20th, AAA approved crucial issues, including business performance assessments in 2021 and target revenue keo ty le 88 VND 14.100 billion in 2022.
In 2022, AAA sets a profit target keo ty le 88 VND 527 billion, up 63% compared to the performance keo ty le 88 2021, coming from 3 main motivations. Firstly, being a part keo ty le 88 AAA’s industrial park real estate business, An Phat 1 Industrial Park is coming into operation soon. Secondly, AAA will enhance the contribution keo ty le 88 industrial packaging and compostable packaging – business segments with high profit margins. Thirdly, the Company will reduce transportation costs and COVID-19 disease prevention expenses in the context keo ty le 88 new normal.
AAA’s Annual General Shareholders’ Meeting approved a profit target keo ty le 88 VND 527 billion in 2022, up 63% over the same period.
Regarding overall goals in 2022, An Phat Bioplastics will maintain its position as a pioneer in the plastic packaging industry in Vietnam, rising to become the leading manufacturer keo ty le 88 environmentally friendly packaging in Southeast Asia. Besides, AAA will continue to increase the operating capacity keo ty le 88 the industrial packaging factory.
Simultaneously, AAA will actively expand both domestic and overseas markets, focusing on exporting to major consumer markets in Europe, Australia, Japan, and the United States, at the same time, develop environmentally friendly plastic products in the home market.
To ensure financial security, An Phat Bioplastics will enhance the risk management system. AAA will also concentrate on enhancing management skills, applying production initiatives to save costs and increase profits for businesses in the coming year.
