On April 25th, 2024, the Annual General Meeting (AGM) for 2024 of Can Tho Agricultural Technical Materials Joint Stock Company (Ticker: TSC) was successfully conducted at the Hanoi headquarters office.
During the meeting, shareholders approved reports from the Board of Directors, Supervisory Board, and Executive Management Team. Items passed included the audited financial statements for 2023, the profit distribution plan for 2023, and the business plan for 2024. Approvals were also granted for the remuneration of the Board and Supervisory Board for 2023 and their pay plan for 2024, along with contracts that generated revenue and costs involving related parties.
In this session, the AGM confirmed the candidate list and conducted elections for the Board of Directors and Supervisory Board members for the new term, 2024-2029, starting from April 25, 2024. The elections were held via secret ballot. Elected members include Mr. Nguyen Trong Thanh, Ms. Nguyen Thi Minh Nguyet, Ms. Vo Thi Hong Tham, and Mr. Le Viet Cuong as Board members; Mr. Nguyen Tuan Tu as an independent Board member; and new Supervisory Board members Mr. Nguyen Anh Tuan, Ms. Pham Thi Thuong, and Ms. Truong Thi Van.
The members of the Board of Directors and the Supervisory Board of TSC for the term 2024 – 2029.
Despite recent economic difficulties and stock market instability, TSC has maintained and incrementally improved its production and business operations. In 2023, the company saw a substantial increase in after-tax profits, over 75% higher than in 2022. In the food processing sector, products such as canned lotus seeds and fruits from Westfood continued to be produced and sold steadily. Additionally, Westfood has begun to penetrate the vast Chinese market, promising a bright future for the export of tropical fruits. The company is also aggressively advancing the expansion of raw material areas and the Westfood Hau Giang Factory project, which aims to produce 30,000 tons of finished products per year. The groundbreaking ceremony for the factory took place in September 2023, with operations expected to start in the first quarter of 2024, creating jobs for thousands.
The 2024 AGM of TSC was conducted professionally and successfully
With this growth trajectory, the company’s leadership believes that business results in 2024 will continue to improve and that TSC stock prices will show signs of recovery, providing positive value to shareholders. The 2024 Business Plan was also approved during the meeting, targeting a 40.74% increase in sales and service revenue compared to 2023, reaching 672.085 billion VND, and after-tax profits expected to surpass 22.465 billion VND by 300.58%.
In 2024, TSC is committed to further enhancing its growth and extending its range of standout products, broadening brand recognition among consumers. The company’s key tasks include closely monitoring the market, implementing flexible solutions, and responding promptly to the volatile and challenging economic landscape. High-performing and potential sectors such as bottled water, cosmetics, and processed foods for domestic consumption and export will continue to be the focus. Additionally, TSC is committed to upholding its environmental and community responsibilities by ensuring occupational safety and environmental hygiene in its factories. The Westfood Hau Giang Factory project will be closely monitored and coordinated with Westfood to ensure timely investment. Moving beyond 2024, the management remains determined to lead TSC and its subsidiaries on a path of sustainable and efficient development.
