According to the 2021 corporate governance report, the Executive Board made great efforts to stabilize and develop production sectors in various new directions to ensure continuous operations during the Covid-19 pandemic. This was achieved by implementing the “three-on-site” model safely and effectively, maintaining production output and product quality, avoiding salary cuts and workforce reductions, and fostering a positive working environment with a spirit of unity, creativity, and resilience in the face of challenges.

The General Meeting reviewed and summarized the corporate governance activities of the Board of Directors (BOD) and the Executive Board (EB), recognizing their swift adaptation in business mindset to both stabilize production, increase output, and develop new products. Despite the EB’s flexibility in adjusting business plans and leveraging all available resources, the BOD did not observe strong cohesion and effective collaboration among the executive leadership during the first half of the year.

The business strategy of the corporation shows that it will focus on strengthening the development of new customers and continue introducing new products into supermarket systems. It plans to expand the offering of commercial bags distributed to systems such as Mega, BHX, etc.; boost sales of items such as shrink films, medical gloves, tapes, and ropes; in the communications sector, the company’s strategy involves providing high-tech products ahead of the market and combining them with creative, compatible content, which has successfully increased the number of new customers and resulted in good revenue.

The company’s financial situation is quite stable and healthy. In 2021, net revenue increased by 15.87% compared to the previous year, and after-tax profit rose by 28.67%. Earnings per share (EPS) reached 917 VND, reflecting a 28.67% increase. Revenue from the plastic industry remained stable; revenue from the paper production and trade sectors saw significant growth; and revenue from the media, entertainment, and other services sectors increased compared to the previous year.

The short-term investment ratio in 2021 increased from 53.98% to 56.30%, resulting in a decrease in the long-term asset ratio from 46.02% to 43.70%. These changes are not significant. The self-financing ratio for fixed assets was 2.45 times, which indicates the financial stability of the company.

The following annual matters were approved: The Board of Directors (BOD) is authorized to select the auditing company for the 2022 financial statements; the total remuneration for the BOD in 2022 will be 5% of the company’s after-tax profit, with the allocation to be determined by the Chairman of the BOD based on actual participation; the total remuneration for the Supervisory Board (SB) in 2022 will be 1% of the company’s after-tax profit, with the allocation to be determined by the Chairman of the SB based on actual participation; approval for a bonus to be allocated to the Executive Board based on 5% of the company’s after-tax profit, contingent upon the successful completion of the 2022 General Meeting’s plan.

For the 2022 objectives, Alta Group set the goal to improve production and business efficiency in a sustainable development direction; increase income for employees while ensuring dividend payments to shareholders; invest in and carry out research and development of new products and technologies; and ensure comprehensive management information, including accurate analysis and forecasting.

The General Meeting was held with a high level of consensus, and the shareholders approved the content regarding the business performance results for 2021, the business plan for 2022, the dividend distribution plan, and many other important matters. The shareholders also proceeded with the election of the Board of Directors (BOD) and the Supervisory Board (SB) for the 6th term (2022-2027).

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Closing the General Meeting, Mr. La Thế Nhân – Member of the Board of Directors, presented the Resolution of the Meeting. The Annual General Meeting of Shareholders approved the minutes of the 2022 Annual General Meeting with a 100% approval rate. At 4:30 PM on June 22, 2022, the 2022 Annual General Meeting of Shareholders of Tan Binh Culture Joint Stock Company was successfully concluded.