AN PHAT PLASTIC (AAA): 10M2017 BUSINESS PERFORMANCE REPORT
FIRST 10 MONTHS 2017 BUSINESS PERFORMANCE REPORT
AN PHAT PLASTIC & GREEN ENVIRONMENT JOINT STOCK COMPANY
Security code: AAA
Dear Shareholders and Investors,
An Phat Plastic & Green Environment Joint Stock Company would like to announce “The Business performance report of first 10 months 2017”, details are as follows:
1. Maintain stable output
Continuing the breakthroughs and successes in the previous months, the company's consolidated sales for the first ten months of this year were estimated at 75,446 tons, up 52.26% YoY, achieving 78.59% of the year plan, export volume to major markets continue to grow, especially in the Japanese market, which accounts for 30%-40% of the production structure at the end of the year. By the end of 2017, the total output of all factories will reach 8.000 tons of bags per month and the consolidated production will reach 13.500 tons per month.
2. An Phat Holdings purchased successfully AAA warrants
October 17th 2017, AnPhat Holdings with 3 companies: Viet and Duong Investment Limited Company, Duong Pham Investment Limited Company, and Trung and Hoa Investment Limited Company have successfully purchased the remaining warrants of AAA with the average purchase price of 39,500,000 VND per warrant, equivalent to 39,500 VND per share or 28,000 VND per share before conversion price of 11,500 VND per share.
3. Welcomed investors and attend to the Vietnam Enterprise Conference
Accepting the invitation of Samsung Securities, Chairman of the company, Mr. Pham Anh Duong attended to the Vietnam Enterprise Conference in Seoul, Korea on October 21st, 2017. An Phat is honored to be one of the top 3 Vietnamese companies to attend and present to more than 300 Korean investors at this seminar.
In order to develop the major markets, in October, the Board of Directors of the Company had a business trip in Europe to meet customers, discuss production plans, types of products and quality criteria with long-term orders in the fourth quarter and 2018.
Currently, AAA has received much attention from investors and Securities Company. In October, Maybank Kim Eng Securities Co., Ltd, VPBank Securities, SSI, FPT Securities… have visited and explored the company's performance, and future plans, then introduce fully about the company to investors. After attending to the Vietnam Enterprise Conference, the company also received much attention from Korean investors. On 2ndNovember 2017, Core Trend Investment Co., Ltd. and Korea Value System Asset Management Co., Ltd. have visited company, the factories, and understood clearly business performance of the company.
4. Decision to invest capital to establish a subsidiary
On 23rd October 2017, the Company's Board of Directors held a meeting and decided to invest VND 65 billion to establish a subsidiary - An Phat Plastics Complex Joint Stock Company which is located in An Dong Industrial Cluster, Nam Sach Town, Nam Sach District, Hai Duong Province. The main business of the company is the production of high-tech plastic and electronic components. Mr. Pham Hoang Viet - Member of the BOD cum Permanent Vice Director of AAA will be the representative of the management of capital contribution in subsidiary. Before establishment of An Phat Plastics Complex Joint Stock Company, AAA's Board of Directors researched market, policies and development needs of supporting industries in Vietnam as well as in the world. The main products of the company will be high-tech plastic, plastic injection molding and small plastic parts. These products will mainly serve FDI enterprises in Vietnam, taking advantage of tax incentives in industrial parks and stable customer source. According to the research, Vietnamese supporting enterprises are enjoying relatively high margins (about 10% after tax) when producing products for FDI enterprises in the electronics and automobile sectors.
5. November 2017 plan
The company will follow the general plan for output, sales and profit for the fourth quarter of 2017. The Board of Director is working on the 2018 business targets to get approval from the board of management.
To: GENERAL DIRRECTOR
- As above. (Signed)
- Office for record./.
NGUYEN LE TRUNG