The Board of Directors of Thanh Cong Textile has just passed many important resolutions, including a plan to increase charter capital for a subsidiary specializing in real estate with an amount of 223 billion VND.
TCM said it has received enough orders for the first quarter of 2025, is accepting orders for the second quarter and has started accepting orders for the third quarter - Photo: TCM
Thanh Cong Textile - Investment - Trading Joint Stock Company (TCM) has just announced many plans that the company will implement this year.
Garment company "pumps" more capital into real estate, pays 5% dividend
Specifically, according to the decision of the board of directors, TCM will increase the charter capital of TC Tower Company Limited by an additional VND 223 billion by contributing additional cash.
TC Tower's charter capital after the increase is 372.3 billion VND. TC Tower is a subsidiary of TCM, 100% owned by TCM, located in Tan Phu district, Ho Chi Minh City, specializing in real estate business activities.
In addition to "pumping" more money into the real estate sector, TCM 's board of directors also approved the closing of the shareholder list on March 18 to pay the first dividend for 2024, at a rate of 5% in cash (ie 1 share receives 500 VND).
In addition, TCM also finalized its 2025 plan with net revenue of more than VND4,525 billion, up 19% compared to last year. Net profit remained flat at VND278 billion.
In the parent company's business results report for January 2025, TCM recorded revenue of VND346 billion, up 3% over the same period last year. Profit after tax reached VND26 billion, up 13%.
TCM has also received enough orders for Q1-2025, is accepting orders for Q2 and has started accepting orders for Q3.
To carry out the plan set for this year, Thanh Cong Textile's management board said it will focus on R&D, diversify products, especially environmentally friendly, recycled and high-value products.
The company also invests in custom design and private label design, aiming for the ODM (original design manufacturing) model.
At the same time, TCM will take advantage of the opportunity to shift orders from China due to concerns about high import taxes from the US and expand export markets, develop the domestic market to increase revenue.
At the same time, businesses will focus more on the domestic market, especially on textile products, to take advantage of tariff incentives on origin from FTA agreements.
TCM made big profits last year
Last year, this enterprise achieved net revenue of VND3,810 billion, completing 102.78% of the plan and net profit of VND278 billion, reaching 178.46%.
TCM leaders said that in 2024, despite still facing challenges such as international competition, pressure on labor costs and strict requirements on environmental standards, the Vietnamese textile and garment industry will still achieve positive results.
The US is both the largest export market for Vietnamese textiles and garments and a market with significant export growth in 2024.
TCM leaders believe that the results achieved in the US market in 2024 will be a premise for Vietnam to continue promoting textile and garment exports to the market in 2025.
Despite many advantages and opportunities, TCM's leadership also believes that in 2025, textile and garment enterprises will continue to face challenges such as low order prices while input costs continue to increase; brands will have major changes in purchasing and payment methods, and reduced output...
Or strict criteria and standards related to "greening" in production; self-sufficiency in raw materials and labor standards, traceability and low carbon emissions... are also big challenges for this industry.
Notably, experts predict that in the next 2-4 years, the textile and garment industry will have to face more than 35 new laws related to sustainable development in most major markets such as the US, EU, Japan, China, India... If they cannot meet market requirements, businesses will lose orders and reduce revenue.
Source: https://tuoitre.vn/dai-gia-nganh-det-may-bom-hang-tram-ti-vao-cong-ty-bat-dong-san-o-tp-hcm-20250301083643367.htm
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