ANNUAL GENERAL SHAREHOLDERS’ MEETING 2024

On April 26, 2024, Tan Binh Cultural Joint Stock Company (ALTA Group – stock code ALT) successfully held its Annual General Shareholders’ Meeting for 2024. The meeting approved the 2024 business plan, business development solutions for the company, the dividend payment plan, additional capital contribution to subsidiaries, expansion of business activities, and several other proposals.

At the meeting, the Board of Directors (BOD) and the Executive Board (EB) of ALTA presented reports on the production and business operations in 2023, reports and assessments by the Executive Board, the BOD’s assessment of the Company’s operations, the development orientations for 2024, and appropriate solutions for each sector.

At the end of 2023, the Vietnamese economy still faced many difficulties, with political and economic instabilities, high inflation, and continued impacts on import-export activities. However, alongside these challenges, the Vietnamese economy also achieved many positive and noteworthy accomplishments that were highly regarded by international organizations.

Against this general backdrop, in the past year of 2023, ALTA company has strived to achieve the business plan targets set by the General Shareholders’ Meeting, maintaining stability across all production and business activities, while also laying a solid foundation for the upcoming years’ operations.

First, according to the BOD’s assessment of the Executive Board, there have been practical changes to stabilize and develop the business activities in various new directions. The Executive Board has developed reasonable production plans to both maintain the existing market and customers, while also continuing to improve the organizational structure and increase productivity to capture new markets and customers.

The BOD evaluated, commented on and recognized the results of the production stabilization process and revenue growth, as well as the understanding of consumption trends and new environmental protection requirements. The Executive Board has quickly developed the R&D area to accelerate the digital transformation and development of the GREEN Enterprise.

In 2023, ALTA also launched new products serving the plastics manufacturing and media/communications industries. In the plastics manufacturing sector, with the upgrade and manufacture of new machines fully utilizing differential systems, easy adjustments, and inverter technology that can save up to 15% in electricity. They also manufactured a 4-color printing machine with over 30% increased productivity, and a new product line of biodegradable bags, combining organic and inorganic materials.

For the media/communications sector, ALTA aims to focus and research to develop customized software products. They will also manufacture customized Robots for brand promotion, and concurrently build a Recycling Station Project with a 3R (Reduce, Reuse, Recycle) approach to contribute environmental protection solutions globally.

Regarding the production and business results, the Executive Board (EB) reported and evaluated as follows: As a multi-industry company, in 2023 ALTA had the opportunity to focus on developing its suitable sectors, ensuring financial stability, and accumulating resources for upcoming new trend projects. ALTA continued to uphold its GREEN brand identity, balancing the stabilization of production and business operations while also manufacturing and developing new products and services.

Regarding the company’s financial situation, it remained quite stable and healthy, with net revenue in 2023 reaching 116.14%, while post-tax profit decreased by 25.58%, and EPS reached VND 1,224, down 25.58% compared to the previous year. The plastics industry’s revenue increased by over 20%, while the paper towel manufacturing and trading sectors maintained stable revenues. The media, entertainment, and other service sectors showed growth, but due to competition, the profits have not reached high levels.

The 2024 business plan is based on the company’s actual situation, analyzing the business environment to identify the company’s strengths, weaknesses, opportunities, and challenges. Based on these factors, the company will set business directions, plan targets, and implementation measures to improve the efficiency of production and business activities, bringing benefits to shareholders and employees. At the same time, the company will proactively adjust the business plan to align with market developments.

In its 2024 business strategy, ALTA is fully committed to investing, researching, and developing new products in the plastics and information technology sectors. The focus is on increasing investment in assets and useful equipment to support production, while also deploying various forms of brand promotion. ALTA aims to build win-win relationships with traditional customers while also making efforts to find potential new customers.

For the information technology sector, ALTA will continue to finalize projects and R&D products on the website and social media platforms like Facebook, YouTube, etc. They will also further intensify technology events and forums both domestically and internationally to reach potential customer segments. The productivity of building the Alta Media brand is aiming to place it among the top 10 in Vietnam in providing consultancy solutions and implementing digital transformation for enterprises and public services.

For the plastics manufacturing sector, the targets are to increase production volume by 18% to 20% compared to the previous year, further developing traditional product lines such as garbage bags, roll bags, and tablecloths. The company will also introduce the new biodegradable plastic packaging product to consumers. The Recycling Station project will be finalized to contribute effective environmental protection solutions. With the new products that ALTA has researched and is implementing, they promise to bring tremendous success to the company as well as positive market development in general.

The Annual General Shareholders’ Meeting 2024 was successfully and smoothly conducted with 100% consensus from shareholders, complete approval of the reports presented by the BOD, Executive Board, and Supervisory Board, and the adoption of the Resolution of the Annual General Shareholders’ Meeting 2024 with 100% of attending shareholders.