An Phat Holdings Corporation (HoSE: APH) on October 9 held an extraordinary general meeting of shareholders in 2024 and approved the dismissal of Mr. Pham Anh Duong from the position of member of the Board of Directors (BOD) and elected Mr. Nguyen Le Thang Long as a member of the BOD.

Also at the General Meeting of Shareholders (GMS), Mr. Nguyen Le Thang Long was elected to hold the position of Chairman of the Board of Directors.

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Mr. Nguyen Le Thanh Long. Photo: An Phat

Mr. Nguyen Le Thang Long (born in 1984) is a familiar name to APH shareholders. Mr. Long was a member of the Board of Directors of An Phat Holdings but resigned 4 months ago. Mr. Long is currently the Chairman of the Board of Directors of An Phat Green Plastics JSC (AAA).

An Phat Holdings is known as a giant in the plastics industry, with a charter capital of nearly VND 2,439 billion and 3 subsidiaries: An Phat Xanh Plastic JSC (HoSE: AAA) with a charter capital of more than VND 3,820 billion; Hanoi Plastic JSC (HoSE: NHH) with a capital of nearly VND 729 billion and An Tien Industries JSC (HoSE: HII) with a capital of nearly VND 737 billion.

These are all well-known companies in the plastics industry, with revenue of several thousand to more than ten thousand billion VND per enterprise per year.

Mr. Nguyen Le Thang Long is introduced as a doctor of materials science. Mr. Long joined An Phat Holdings in 2017 as Deputy Director of the Research and Development Center. In early 2021, Mr. Long became Deputy General Director of An Phat Holdings, then became Permanent Vice Chairman of APH.

Mr. Long currently holds the position of chairman at many enterprises, such as: AAA, Anbio, An Phat PBAT Production JSC, Ankor Bioplastics Co...

Although he was just elected chairman of An Phat Holdings, Mr. Nguyen Le Thang Long only holds 750 APH shares. Mr. Long does not hold any shares in AAA despite being the chairman of this enterprise, nor does he hold shares in Anbio, PBAT An Phat, Ankor Bioplastics Co.

Mr. Long was elected chairman of An Phat Holdings after Mr. Pham Anh Duong resigned from this position last September, after 20 years of dedication to APH. Mr. Duong also sold all of his APH shares.

An Phat Holdings is one of the leading corporations operating in the field of high-tech and environmentally friendly plastic production in Southeast Asia.

With many member companies in the plastics, packaging, biodegradable plastic products and materials, engineering plastics, interior plastics, industrial real estate,... the group's products have been exported to Europe, America, the United Arab Emirates, Japan, Korea, Singapore, Taiwan, the Philippines...

All three stocks AAA, NHH, HII and the stock of parent company An Phat Holdings are securities codes that attract the attention of many investors in the stock market, especially investors following the fundamental analysis school, looking for businesses that do real work and have good business results.

Over the past years, all three enterprises An Phat Xanh Plastic, Hanoi Plastic JSC and An Tien Industries have had quite impressive business results.

An Phat Xanh Plastics recorded revenue of up to 13,000-15,000 billion VND/year in 2021-2023; after-tax profit of about 120-320 billion VND/year. An Tien Industries had revenue of 8,000-10,000 VND/year in the past 3 years, and profit was also quite good. Hanoi Plastics had a more modest revenue of 2,000-2,400 billion VND/year but profit of around 100 billion VND/year, quite positive compared to the capital scale of nearly 729 billion VND.

Although it is a famous ecosystem, the reality is that the "Mr. Duong's group of stocks" have very low market prices, quite different from other plastic industry stocks. At the end of the session on October 10, APH was priced at less than 6,400 VND/share, AAA was 9,550 VND/share, NHH was 14,550 VND/share, HII was 4,760 VND/share; meanwhile, Binh Minh Plastics was priced at 119,900 VND/share, Tien Phong Plastics was 60,400 VND/share...

Along with Mr. Duong, a series of leaders of An Phat Holdings also sold APH shares.

Nam Dinh tycoon resigns, what happens at the giant in the plastic industry? After more than 20 years of working for a large company in the plastic industry, An Phat Holdings Chairman Pham Anh Duong suddenly resigned after selling all his capital. Why did Mr. Duong withdraw from his beloved "child", will there be a takeover and change of ownership?