VIGLACERA CORPORATION - JSC ORGANIZES 2025 ANNUAL GENERAL MEETING OF SHAREHOLDERS - Viglacera Corporation

On the morning of June 10, Viglacera Corporation - JSC (Code: VGC) held the 2025 Annual General Meeting of Shareholders (AGM). The meeting was attended by shareholders representing more than 415.6 million shares, accounting for 92.7% of voting shares (including direct attendance and authorization).

The Congress approved all reports and proposals, completed the senior staff, elected the Chairman of the Board of Directors and many other important contents.

Mr. Nguyen Van Tuan - Chairman of the Board of Directors of the Corporation and the Presidium chaired the Congress.

The congress conducted shareholder qualification verification rituals and approved the congress agenda by voting.

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Affirming achievements in production, business and investment development

Reporting at the Congress, Mr. Tran Ngoc Anh - Member of the Board of Directors - Deputy General Director of the Corporation said: In 2024, in the context of many difficulties due to the decline in demand for construction materials (VLXD), severe impacts of natural disasters, and many challenges in the global economic context, Viglacera has proactively and flexibly adapted and implemented many strong and effective solutions, bringing results exceeding the plan: Consolidated net revenue reached 11,906 billion VND; Consolidated pre-tax profit reached 1,630 billion VND - exceeding 47% compared to the plan approved by the General Meeting of Shareholders; Dividend payout ratio is 22% - 2% higher than the target committed to the General Meeting of Shareholders.

Mr. Tran Ngoc Anh - Deputy General Director of the Corporation presented the Report of the Corporation's Board of Directors to the entire Congress.

This impressive result shows that in 2024, Viglacera has maintained stable growth, becoming the most profitable enterprise among enterprises under the Ministry of Construction .

In both the real estate and construction materials sectors, Viglacera has strongly implemented major policies and programs of the Party, Government and Ministry of Construction.

In industrial park real estate investment , a new model of modern and humane industrial park was activated by Viglacera - starting from the announcement of Thuan Thanh Eco Smart IP developed according to green and smart criteria. Viglacera also added 839 hectares of industrial park land to its land fund through the Government's approval of the investment policy for 3 new industrial parks, respectively Doc Da Trang Industrial Park (Khanh Hoa province), Song Cong II Industrial Park (Song Cong City - Thai Nguyen province) and Tran Yen Industrial Park (Tran Yen district - Yen Bai province). Viglacera's industrial parks are all invested in worker housing with full infrastructure, utilities and services, providing the best living environment for workers.

A 5-star resort hotel project (Angsana Quan Lan Ha Long) was inaugurated and put into operation in the island area considered the new marine economic center of Quang Ninh province.

Regarding construction materials, the Viglacera brand is associated with the reputation of green, environmentally friendly, smart and energy-saving materials . The green and synchronous construction materials ecosystem for all projects is widely announced by Viglacera to the entire market, leading a civilized trend from production to consumption. Behind the appearance of new and typical products such as veined terracotta, PVD-coated shower faucets, smart antibacterial and water-saving sanitary porcelain, etc. are methodical investment programs in depth of modern production technology. Also in 2024, Viglacera focused resources on consolidating and developing the business network system, expanding the market to regions across the country. Therefore, the profits of the tile and aerated concrete groups both exceeded the plan.

Regarding exports , the export value reached 46.86 million USD, an increase of approximately 1.2% compared to 2023. This is not only the year with the highest export value, but also expanded exports to a series of countries with high standard requirements of the US, EU, UK, Australia, Japan, Korea, the Middle East and countries in the region.

In terms of management depth , a series of areas from financial management to control work are enhanced, in line with the model of a public company.

Promoting social responsibility: In 2024, on the occasion of its 50th anniversary, Viglacera implemented many support packages with a total value of 47.6 billion VND in construction materials. The products were sent to many localities in support programs, repairing temporary houses, dilapidated houses for the poor; or contributing to the renovation of public works, schools, medical stations, and community cultural houses. Viglacera also participated in the reconstruction program of Lang Nu and Nam Tong village (Lao Cai) after the landslide disaster after Typhoon Yagi, contributing to stabilizing the lives of local people.

In 2024, Viglacera was honored to receive the 7th National Brand Award along with many other prestigious awards.

Therefore, In 2024, Viglacera Corporation was honored to receive many other prestigious awards such as: The 7th time being honored to receive the "National Brand 2024"; the 9th consecutive time from 2016 to present, being in the Top 500 largest enterprises in Vietnam (VNR500), leading the Top 10 construction material manufacturing companies; Top 100 most valuable brands in Vietnam 2024, Top 10 Green Brands 2024; Top 50 Most Effective Business Companies in Vietnam 2024 and "Typical Real Estate 2024 - Typical Construction and Construction Materials Supply Enterprise"; Enterprise with social housing project recognized as "Worth Living Project"; Top 100 best workplaces in Vietnam...

Key tasks for 2025

Reporting to the entire General Meeting of Shareholders, Mr. Nguyen Trong Hien - representative of the Board of Directors of the Corporation pointed out the key goals and tasks for 2025. Accordingly, Viglacera's 2025 Plan was approved by the General Meeting of Shareholders with the following main targets: Consolidated net revenue of VND 14,437 billion, consolidated pre-tax profit of the Corporation - Joint Stock Company of VND 1,743 billion, increasing by 21% and 7% respectively compared to 2024, paying dividends of 22% of charter capital, ensuring shareholders' rights.

Mr. Nguyen Trong Hien - representative of the Board of Directors of the Corporation reported to the General Meeting of Shareholders on key goals for 2025.

Mr. Nguyen Trong Hien said that in 2025, he will focus on directing the main tasks such as: Implementing divestment according to plan; Implementing the Development and Restructuring Strategy of the Corporation, including arranging and streamlining the management model of departments at the parent company. Focusing on developing domestic and export markets; building new market policies, organizational models, training, and recruiting sales teams, suitable for each product area.

In 2025, Viglacera Corporation - JSC will continue to strongly implement restructuring in management and administration from the Parent Company to its affiliated units to proactively overcome difficulties and challenges, and improve the efficiency of production and business activities. In addition, during the implementation process, the 2025 plan will continue to be reviewed and flexibly adjusted to suit the market fluctuations, ensuring adherence to reality while minimizing risks.

At the Congress, Ms. Tran Thi Minh Loan - Member of the Board of Directors, Deputy General Director of the Corporation presented the contents of the proposal to the General Meeting of Shareholders and passed the vote. The main contents were also voted and passed by the congress.

Ms. Tran Thi Minh Loan - Member of the Board of Directors, Deputy General Director of the Corporation presented the contents of the report to the Shareholders' Meeting.

Discuss in the spirit of openness, transparency and goodwill to build a sustainable development future.

The Congress conducted discussions in the spirit of transparency, sharing, frankness in dialogue, and contributed ideas towards the goal of completing the 2025 plan in the context of many new developments in the economy, especially the US's reciprocal tax.

Sharing with shareholders, Mr. Tran Ngoc Anh - Member of the Board of Directors of Viglacera commented that from a psychological perspective, traditional investors from Korea, Japan, Taiwan, Hong Kong and many other Asian markets are considering investing in new investment projects. However, Viglacera has proactively closely followed the tariff negotiation process between the two governments, and at the same time met with associations and foreign investors to receive opinions, assess the situation and propose the most positive support solutions possible, to ensure that investors' goods always have optimal competitiveness...

Currently, Viglacera focuses on attracting investors who are less affected by the new tax policy, along with upgrading the quality of infrastructure and utilities, and implementing a “one-stop” service model. The housing category for workers in industrial parks is also being promoted, bringing peace of mind to investors.  

In 2025, Viglacera will continue to develop new industrial parks in localities with advantageous infrastructure locations, capable of attracting investment and doing business effectively; Promote digital transformation in operation management; Improve the quality of the industrial park environment with integrated green and smart technology solutions to enhance competitiveness, towards forming a model of an industrial city integrated with an ecological urban area.

In a dialogue with shareholders, Mr. Nguyen Anh Tuan, General Director of Viglacera Corporation - JSC said: Viglacera is making efforts to implement new sources of revenue to ensure shareholders' rights and sustainable development for the enterprise.

Regarding the construction materials sector, Viglacera General Director - Mr. Nguyen Anh Tuan said: In 2025, resources will be focused on investing in depth in technological and technical solutions, improving the level of automation, recovery rate, and cost reduction in production areas. Thereby meeting new requirements in the high-end market, products serving export and import substitution, high-value and effective products such as fireproof glass, power-generating glass, anti-reflective glass, and high-end glass processing technology, etc.

Faced with concerns about the future of the Industrial Park real estate sector in the scenario that the US continues to impose high reciprocal taxes on Vietnam, General Director Nguyen Anh Tuan has helped shareholders feel more secure by showing that Viglacera has been proactively promoting the housing - urban investment sector to bring in new sources of revenue.

For the field of social housing and worker housing: Focus on developing social housing/worker housing areas in sync with existing industrial parks in Ha Nam, Phu Tho, Quang Ninh, Bac Ninh, Hanoi... and localities with development cooperation needs.

The Congress also approved the development orientation of the Corporation in the new period: To become the leading corporation in Vietnam and the region in the field of construction materials and real estate development, integrating services - streamlined and specialized operations management - enhancing innovation capacity, modern digital operations - committed to sustainable development.

Shareholders vote

Strengthening the Board of Directors and Supervisory Board

At the General Meeting, Viglacera shareholders approved the resignation of Chairman Nguyen Van Tuan as a member of the Board of Directors, and elected Mr. Tran Manh Huu to the Board of Directors. In addition, the General Meeting also elected Mr. Nguyen Viet Trung to the Board of Supervisors, replacing Mr. Tran Manh Huu who submitted his resignation to take on a new assignment.

The Board of Directors met and elected Mr. Tran Manh Huu as Chairman of the Board of Directors of Viglacera Corporation - JSC for the 2024 - 2029 term, and the Board of Supervisors also elected Ms. Nguyen Thi Tham as Head of the Board of Supervisors.

Viglacera has completed its senior personnel of the Board of Directors. Mr. Tran Manh Huu was elected to hold the position of Chairman of the Board of Directors of Viglacera Corporation - JSC.

Mr. Tran Manh Huu became Head of the Board of Supervisors of Viglacera from April 2021. At the 2024 Annual General Meeting of Shareholders, VGC's parent company, Gelex Infrastructure JSC, continued to nominate Mr. Tran Manh Huu to the Board of Supervisors for the 2024-2029 term, and was then selected as Head of the Board of Supervisors.

The Board of Supervisors of Viglacera Corporation - JSC for the 2024-2029 term was introduced to the Congress.

With the new orientation, Viglacera Corporation - JSC identifies key strategic goals in 2025 and the following development stages: Building Viglacera into a strong economic group in both construction materials and real estate. Comprehensively transforming operational management towards streamlining and specialization by group and industry, ensuring efficiency and autonomy in each field, while enhancing the role of strategic planning and effective control at each level of management. In 2025, strive to successfully achieve the profit target of VND 1,743 billion, an increase of 7% compared to 2024.