News On Production And Trading

Leaders of Machines & Industrial Equipment Corporation works with member unit, Quang Trung Mechanical Company Limited

21/12/2018

Implementing the 2018 working program of the Leaders of the Corporation with its member unit, on 12/12/2018 at Quang Trung Mechanical Company’s office, address: Quat Dong Industrial Park, Thuong Tin, Ha Noi, the delegation, led by Mr. Nguyen Khac Hai, General Director of Machines and Industrial

Attending the meeting, from MIE, there were representatives of Board of Directors, Head of Supervisory Board, Heads of Boards: Human Resource, Finance and Accounting, Economic and Technical Planning and General Assistant of Director of the Corporation.

From Quang Trung Mechanical Company, attending the meeting, there were Mr. Dau Huy Ngoc Linh, Chairman of Company; Mr. Nguyen Van Thanh, General Director, members of Board of Directors, Heads of Finance and Accounting Department and other specialized departments of the unit.

On behalf of leaders of Quang Trung Mechanical Company, General Director Nguyen Van Thanh reported to General Director Nguyen Khac Hai and MIE delegation about the results of 2018 work: production and business situation; Investment in capital construction; Development orientation of the Company and some other activities of the unit.

After hearing the report of the General Director of the Company, opinions of the Chairman, Deputy General Director, Head of Finance and Accounting Department and heads of other departments of the Company on the content of the meeting and opinions of the specialized divisions of the Corporation, the General Director of the Corporation concluded as follows:

1. General:

In 2018, Quang Trung Mechanical Company has a significant progress. Especially the working environment is improved; thoughts and spirit of workers are stable; employees are united at work.

2. Results:

a. Production and business activities:

Results of basic targets: Revenue, industrial production revenue, profit reached 2018 plan. Employee income increased by about 10% compared to the 2018 plan, up 13% compared to 2017.

b. Construction investment:

The company is deploying to invest in construction of factories and warehouses exceeding the schedule, expected to be completed and put into use about 1-2 months before the plan.

Basically, compling with the provisions of the State.

c. Recruitment:

In 2018, the Company recruited 34 skilled workers meeting the job requirements, contributing to solving difficulties due to lack of human resources.

d. Orders and exports:

In the last six months of 2018, the Company received many orders compared to the first six months of the year, so the 2018 business plan was completed. In addition, export orders increased significantly, exceeding the 100% plan, and the proportion of export products accounted for more than 10% of revenue.

3. Tasks for the next period:

a. Develop plans and tasks in 2019:

Request the company to build targets in 2019 (Revenue, Industrial Production Value, Employee Income, etc.). Targets must be at least equal to the overall growth of the Corporation. In addition, regarding profit targets, the Company is recommended to consider and adjust minimum growth of 12%/year.

b. Financial inspection and supervision:

The Corporation has conducted the inspection and supervision of finance in 2017 at the unit and has issued a working record and a written request for handling problems in business, finance, accounting, etc. to Chairman, General Director for direction and implementation.

c. Development orientation of the Company:

- Propose the Company to restructure its product portfolio, focusing on mass products, on line manufacturing and limiting single production.

- In particular, it is recommended that the Company develops an orientation towards increasing the proportion of products for export so that by 2021, it will account for 25-30% of the Company's production revenue.

d. Receiving 360 Giai Phong office:

According to the progress, in the fourth quarter of 2018, the company would receive 3500 m2 of office floor at 360 Giai Phong, so far it still has not happened. Propose the Company to urge and follow up to receive and put into use.

Some photos at the meeting