Mid-year Conference of Business Review for the first half and Strategic Outlook for the Second Half of 2025

The Machines and Industrial Equipment Corporation (MIE) convened its Mid-Year Conference to assess performance for the first six months of 2025 and outline strategic plans for the remainder of the year in Hai Phong.
The conference was chaired by Mr. Tran Quoc Toan, Chairman of the Board of Directors, and Mr. Le Huy Hai, General Director.
 

Mr. Tran Quoc Toan, Chairman of the Board of Directors of MIE, delivers a keynote address at the Conference 

 

The Conference assessed the Corporation’s core product portfolio, which primarily includes hydro-mechanical equipment for hydropower projects, products for foreign partners, and FDI enterprises, etc. Overall, the Corporation faced significant challenges due to the broader impact of the global economic downturn. In addition, fierce competition within the same industry and the limited number of major domestic hydropower projects being launched have further constrained business opportunities. As a result, the Corporation’s production and business activities encountered considerable difficulties, particularly in securing new orders. Moreover, longstanding internal issues—such as outdated technology, the absence of standardized mass-produced products, and limited financial resources—have continued to negatively affect overall business performance. 
 

Mr. Vu Trung Thuc, Deputy General Director of MIE, presents the business performance report for the first half of 2025

 

At the conclusion of the first six months of 2025, the Corporation achieved the following key performance indicators: 

* Parent Company

- Total Revenue: VND 123.44 billion, reaching 46.34% of the annual target. Full-year performance: VND 271.9 billion, achieving 102.10% of the annual plan. 

- Industrial Production Revenue: VND 94.32 billion, reaching 41.48% of the annual target. Full-year performance: VND 227.39 billion, achieving 100% of the annual plan. 

- Pre-Tax Profit: VND 1.38 billion, reaching 55.75% of the annual target. Post-Tax Profit: VND 1.03 billion, reaching 52.07% of the annual target.  

- Average Monthly Income per Employee: VND 19.307 million/person/month, reaching 96.58% of the annual target. 

* Consolidated Corporation 

- Industrial Production Value: VND 589.48 billion, reaching 42.33% of the annual target. 

- Total Revenue: VND 710.65 billion, reaching 45.75% of the annual target. Of which, Industrial Production Revenue: VND 559.58 billion, reaching 42.0% of the annual target.

- Export Turnover: USD 3.07 million, reaching 33.81% of the annual target. Import Turnover: USD 0.26 million, reaching 52.0% of the annual target.

- Pre-Tax Profit: VND 6.59 billion, reaching 57.5% of the annual target.

- Average Monthly Income per Employee: VND 13.60 million/person/month, reaching 105.16% of the annual target.

 

Mr. Le Huy Hai, General Director of MIE, delivers the closing remarks at the Conference

 

To fulfill the 2025 business and production plan, the Conference proposed several implementation solutions for the second half of the year as follows: 

1. Proactively seek new orders and customers through a combination of approaches, with a focus on large-scale, integrated equipment packages. Strive to expand and increase export product volumes. 

Mobilize all available resources to complete and exceed the annual targets at the highest level, in alignment with the spirit of the National Assembly’s Resolution, the Prime Minister’s directives, and the Ministry of Industry and Trade’s guidance on socio-economic growth objectives for 2025.

2. Strengthen corporate governance and management, accelerate digital transformation, streamline organizational structure, promote cost-saving practices, and prevent waste. 

3. Continue improving capital efficiency by focusing on debt recovery and reducing inventory levels, especially stagnant or slow-moving products, to ensure sound asset and capital management. Based on this, reduce credit borrowings to enhance capital utilization.

4. Review, assess, and supplement documentation for the finalization of the Corporation’s equitization process.

5. Research and propose corporate restructuring solutions (e.g., joint ventures, divestments, equitization) for submission to competent authorities for consideration and approval. 

6. Prioritize human resource development to enhance management capabilities, technical expertise, and foreign language proficiency.

7. Encourage stronger inter-unit collaboration and support to enable participation in major bidding packages and large-scale projects.

During the same period, delegates also visited and participated in a ceremonial incense offering at the Ho Chi Minh Sea Trail historical site - No Number Pier in Do Son, Hai Phong City.