2025 Annual General Meeting Of Shareholders Tools Joint Stock Company No.1

On April 26, 2025, in Hanoi, Tools Joint Stock Company No.1 successfully held its 2025 Annual General Meeting of Shareholders (AGM). The meeting approved the Company’s 2024 performance report and the business and investment plan for 2025.

Attending the meeting were Mr. Vu Trung Thuc – Member of the Board of Directors, Deputy General Director of Machines and Industrial Equipment Corporation (MIE); members of the Board of Directors, Supervisory Board, Executive Board of Tools Joint Stock Company No.1, along with 16 shareholders representing 96.81% of the voting common shares.

nder the guidance of the Presidium including Mr. Pham Thanh Dong – Chairman of the Board, and Ms. Nguyen Thi Nga – Member of the Board, the AGM reviewed the report on production and business results for 2024 and the business and investment plan for 2025.

Tools Joint Stock Company No.1 exceeded its key targets set by the 2024 AGM by 12%–16%. Despite facing significant challenges during the year, such as limited working capital, high loan interest expenses, rising input material costs, and increased production expenses, the Company managed to maintain stable employment, with an average monthly income of approximately VND 13.575 million per employee. Employee welfare, social insurance, health insurance, and unemployment insurance policies were fully ensured.

Mr. Pham Thanh Dong, Chairman of the Board, delivers the Board’s report

On behalf of the Board of Directors, Mr. Pham Thanh Dong presented the report evaluating the performance of the Board of Directors and the Executive Board in 2024, along with the direction for 2025. Based on the 2024 results and an assessment of internal and market conditions for 2025, the Board proposed business targets for 2025, including an estimated 8% growth in industrial production value and total revenue compared to 2024, a planned profit of VND 271 million, and an average employee income of VND 15.24 million/month. The company also plans to invest VND 3.5 billion in fire prevention and fighting, VND 500 million in environmental protection, and VND 300 million to purchase an additional salt furnace for production.

At the AGM, Mr. Vu Trung Thuc, Member of the Board and Deputy General Director of MIE, provided clear and focused guidance, emphasizing the need for the Company’s leadership to implement specific measures to carry out both investment activities and production-business tasks effectively in 2025.

Mr. Vu Trung Thuc, Member of the Board, Deputy General Director of MIE, delivering remarks at the meeting

 

Shareholders attending the meeting highly appreciated the Company’s 2024 results and expressed their understanding of the challenges faced. They also offered feedback and suggestions to the Executive Board regarding the Company’s operations. Shareholders expressed strong confidence in the leadership of the Board of Directors and Executive Board, as well as in the efforts of all Company employees to achieve the 2025 business targets.

The strategic directions and management solutions presented at the AGM received broad consensus from shareholders. 

The meeting approved the full agenda with 100% of participating shareholders voting in favor of several key matters, including:

- Report by the Executive Board on 2024 business results and key tasks for 2025.

- Report on the Board of Directors’ activities in 2024 and directions for 2025.

- Report on the Supervisory Board’s performance in 2024 and directions for 2025.

- Self-assessment report of the Supervisory Board and its members in 2024.

- Proposal for approval of the remuneration report for 2024 and the 2025 plan for the Board of Directors, Supervisory Board, General Director, and other key managers.

- Approval of the 2024 financial statements, fund appropriation and dividend distribution, and the 2025 proposed plan for fund allocation, dividend distribution, and selection of an independent auditor. 

-  Approval of the AGM resolution on all matters presented during the meeting.

Shareholders voting on the contents presented at the meeting

The 2025 Annual General Meeting of Shareholders of Tools Joint Stock Company No.1 concluded successfully. The leadership and employees of the Company are determined to fully accomplish the 2025 business targets approved by the General Meeting of Shareholders.