Speech in response to Message No. 20 of THACO Leaders and Member Corporations

Within the framework of the Opening Ceremony/At Ty 2025 Launch Ceremony, THACO Leaders and member corporations responded to Message No. 20 - 2025 of THACO Chairman of the Board of Directors Tran Ba ​​Duong, pledging to make efforts to implement the plan, affirming its position and sustainable development in the new period.

1. Mr. Pham Van Tai - General Director of THACO

Along with production and business activities is management. In 2025, THACO and its member corporations will continue to focus on implementing the "Completing and Upgrading Management" Program - a core factor ensuring THACO's sustainable development. The focus is on promoting digital transformation and human resource development.

THACO General Office is the workplace of the Board of Directors, the Board of Management and the Basic Management Departments. These are the Departments: Strategy - System Management & Digital Transformation, Human Resources, Legal, Accounting, Finance, Culture, Communications, Marketing and Administration with advisory functions for THACO's Board of Directors & Member Corporations; at the same time, participating in management (through consulting, support, supervision and training activities) and performing a focal role for specialized and highly complementary and integrated operations.

2025 is the starting year to implement commitments to complete the production and business plan based on the standard and digital management platform. Therefore, the Basic Management Departments at THACO Headquarters need to proactively grasp the practical production and business activities to promptly advise, support and coordinate to resolve the proposals of member corporations on management work; at the same time, proactively develop appropriate operational plans, focusing on the following main tasks:

1. Complete the Management System:

- Focus on completing the Structure & Position Title, Organizational Chart and Functions - Duties at THACO and the TVETs; complete the operating and management model according to the 3-level principle, standardize regulations, framework regulations and operating procedures based on practical basis to increase transparency and efficiency.

2. Complete human resources:

- Focus on perfecting the personnel structure of the Basic International Staffing Boards at THACO's Headquarters and the DTTVs, focusing on the leadership and potential staff, personnel with high professional qualifications, and at the same time having a positive attitude and moral qualities, suitable for the development requirements in the new period. Implement continuous training programs to improve professional capacity and management skills, digital skills to help personnel adapt to rapid changes in line with the trend of the times.

- Focus on rejuvenating the staff, combined with training and education to develop the next generation of leaders.

3. Digital transformation:

- Accelerating the progress of deploying the ERP system according to the digital transformation roadmap across THACO's ecosystem as a tool to manage production and business activities and administration, ensuring the integration of resources to optimize costs and increase efficiency.

- Play a leading role in directing the upgrading of IT infrastructure, ensuring stability and effective operation of digital platforms at THACO and its subsidiaries.

4. Effective work management according to KPI:

- Apply KPI to measure and evaluate work efficiency to increase productivity, increase employee income and reduce costs across the system.

- Complete the synchronous KPI management system at all levels from THACO to member corporations, blocks/corporations, departments and individuals to ensure good implementation of the following groups of indicators: 1) Production and business, 2) management and 3) personal development training.

- Strengthen training/coaching to motivate and support employees to proactively and voluntarily implement assigned KPI targets appropriately.

5. Developing corporate culture:

- Developing the culture of THACO and its member corporations with the characteristics of THACO's industrial people "discipline, technique, creativity", along with a positive working attitude, standard behavior with the mindset "Each employee is an ambassador of the THACO brand".

- Implement internal, cultural, and union activities and social responsibility activities to create solidarity, promote endogenous strength, collective spirit, and spread the beauty of THACO culture. At the same time, build a culture of "doing real, living real" as the foundation for THACO's cultural development.

With the strong direction of the Chairman of the Board of Directors and the high determination of all employees, we believe that the 2025 Plan and the 5-year Plan (2023 - 2027) will be implemented seriously, effectively and in accordance with the set strategic goals.

On behalf of all THACO employees, we pledge to uphold the spirit of attachment, contribution, and dedication to THACO and through THACO, contribute to the country's economy. At the same time, we constantly study, strive to practice a positive attitude, improve professional and management capacity to meet the requirements of the job towards sustainable development in the context of international integration and digital transformation, which is also the development aspiration of each of our THACO employees.

2. Mr. Nguyen Quang Bao - General Director of THACO AUTO

THACO AUTO is steadfast in its strategy: Manufacturing and trading a full range of vehicles (trucks, buses, passenger cars, new energy vehicles) with product segments (mid-range, high-end) bearing international brands and the THACO brand to meet the conditions of use in Vietnam and the specific needs of customers. Production, business and management activities are carried out throughout the value chain from product research and development; production & distribution; vehicle retail, repair services and supply of spare parts - materials. The automotive retail system with diverse models is "integrated and complementary" to the multi-brand business activities of THACO AUTO, for THACO and its member corporations, in order to bring maximum value to customers and the economy.

In 2024, with timely support policies from the Government, the automobile market increased by 30% compared to 2023, THACO AUTO sold more than 91,000 vehicles of all kinds and exported more than 1,100 vehicles .

In 2025, THACO AUTO will continue to focus on perfecting the systematic and standardized management system to move towards digital-based management ; proactively prepare production and business organization plans, complete the plan targets according to the message set by the Chairman of the Board of Directors of THACO, with specific directions in 2025 as follows:

- For the Production Block in Chu Lai : complete the investment in construction and put into operation the new automobile R&D Center; focus on product research and development activities; research technological solutions for manufacturing components, spare parts, and accessories to become the Production Center of the ASEAN region. Develop and expand export markets, especially THACO brand trucks and buses; strengthen cooperation with international partners: Mercedes, Volvo, MAN, ... to produce and export vehicles to designated markets. Increase export vehicle sales and promote the export of spare parts researched, developed, and manufactured by THACO.

- For Business Blocks at the Executive Office: including the Tourist Vehicle Business Block, Tourist Service Business Block, Truck and Bus Vehicle & Service Business Block will manage vehicle and service business activities from the Executive Office directly to the Corporations - Branches; Executive Board - Agents (affiliated and independent) to customers. In which, focus on Market Forecasting, transactions with partners, business planning to ensure sales and market share targets; inventory management, ordering - coordination through policies and regulations.

- For the retail system in 02 regions (North, South) : organize the management of the operations of the Agents (affiliated and independent) with the goal: the affiliated Agents organize the management activities in a systematic manner, the business activities are stable and growing, aiming for the operational efficiency in 2025 and sustainable development as a real enterprise; the independent Agents organize the operation as an affiliated Agent, effectively to accompany and develop with THACO.

- Control operating costs, effectively manage the finances of the Units by vehicle model, business activity, location and legal entity.

- Implement digital transformation strategy: complete ERP for assembly factories and Provincial/City Companies; integrate database information into THACO AUTO MIS Information Management System.

- Plan to develop human resources with discipline, technicality, creativity and a spirit of dedicated service; manage human resources based on standard criteria, identify training needs and solutions for human resource development. Form a suitable human resource team to implement THACO AUTO's "differentiation" strategy.

The message of the Chairman of the Board of Directors of THACO also inspired and aroused the determination for all THACO AUTO employees to train in willpower, expertise and management, always uphold the spirit of dedication , confidently overcome challenges, continue to promote the pioneering role in developing breakthrough solutions, implementing the program of perfecting and upgrading management in a systematic manner to successfully implement the proposed strategy and plan.

3. Mr. Tran Bao Son - General Director of THACO AGRI

2025 is the 3rd year in THACO AGRI's 5-year plan (2023 - 2027); it is the most important pivotal year to implement the set strategic goals.

In 2024, THACO AGRI planted 2,300 hectares of new bananas , with an export output of 56,700 tons of fresh bananas; developed cattle farming combined with fruit tree planting (including durian, mango, grapefruit) with a total herd of 111,500 cows , fresh fruit output of 920 tons ; organized production according to the Enterprise model and gradually completed the model of a large-scale integrated circular agricultural production complex . At the same time, developed pig farming combined with forestry planting with a herd of 85,000 pigs , with an output of 99,400 pigs for sale. THACO AGRI's total revenue in 2024 reached 2,200 billion VND .

Therefore, in preparation for the year of At Ty 2025, THACO AGRI reviews resources, focuses on comprehensive management and sets out investment and production plans with the following main objectives: Planting 10,000 hectares of bananas, increasing the total banana production area to 13,300 hectares with a total fresh banana export output of 272,600 tons ; trial planting of 560 hectares of pineapple; investing in synchronous barns to raise more than 254,800 cows . Planting more than 4,000 hectares of fruit trees, increasing the total fruit tree area combined with cattle raising to 9,300 hectares , with a fresh fruit export output of 10,400 tons . Producing 634,000 tons of composted cow manure for cultivation; investing in factories and warehouses to form specialized agricultural industrial parks at each KLH. In addition, THACO AGRI invested in completing existing farms, developing two new farm projects, raising a total herd of more than 197,800 pigs , with a commercial pork output of 230,500 pigs ; the animal feed production and business plan is 167,000 tons. The total investment expenditure in 2025 is expected to be 7,550 billion VND with an estimated revenue of 8,340 billion VND .

To achieve the above-mentioned goals, THACO AGRI focuses on improving the management capacity of basic construction activities , synchronously implementing survey - design - construction work; controlling and improving construction processes and methods to ensure quality, technical standards, speed up progress and optimize investment costs.

At the same time, improve the personnel work of leaders at all levels, recruit workers to meet the needs; take care of the lives of employees so that employees are attached, stable and develop with the company; organize training/coaching according to each level. Deploy ERP software to manage production activities, at the same time, assign KPI targets to increase productivity, control quality, costs and optimize operational efficiency for Units/Departments and individuals.

2025 is certainly a year with many difficulties for THACO AGRI, but from the initial successes achieved in 2024 with a large-scale, integrated and circular agricultural production model, all THACO AGRI's leaders and employees together promote the spirit of dedication, overcome challenges, and commit to completing the 2025 goals to create a sustainable foundation for the following years, contributing to the overall development of THACO.

4. Mr. Do Minh Tam - General Director of THACO INDUSTRIES

THACO INDUSTRIES is a member corporation of THACO implementing a production and business strategy in the field of mechanical engineering and supporting industry, with a centralized, large-scale, regional production model.

In 2024, THACO INDUSTRIES will put into operation the R&D Center and factories: auto glass, auto body components and auto electrical equipment to improve production capacity. We have also just established a sales company in the US to develop the international market. Consolidated revenue reached nearly 10,800 billion VND, of which exports reached nearly 130 million USD.

In 2025, I and all THACO INDUSTRIES employees commit to implementing the message of the Chairman of THACO's Board of Directors with the following solutions:

Regarding business management: this is the input to promote production and business activities from outside, search and develop markets, especially export markets, organize business management by product groups and sell by market:

- Analyze and assess the market promptly and develop business solutions to ensure business targets and plans.

- Enhance the role of business management by product group, sales by market and form a team of sales engineers.

- Effectively operate companies abroad (USA, Korea).

- Promote the THACO INDUSTRIES brand and product brands Thaco Trailers, Thaco Parts, Thaco Machinery.

- Application of Business Data Management and Sales Management software.

Regarding R&D activity management: this is the driving force, creating a difference in proactively proposing product research and development, promoting production and business activities:

- Organize throughout the value chain: Market research - Product research - Material research - Design, simulation - Sample production - Testing and finalizing product calibration.

- Research and develop in-depth products: auto parts, semi-trailers, machinery and equipment, agricultural machinery, with configuration and functions suitable to the usage conditions of customers and the market.

- Research and apply metal and non-metal materials; test suitable materials and components, meeting material standards and product quality standards according to customer and market requirements.

- Providing consulting, design, testing and product testing services.

Regarding production management, production activities include 19 factories organized for large-scale production, but still meet individual customer requirements and are managed from a perspective of both combination and specialization, with high complementarity and integration in the value chain.

- Improve production capacity and increase competitiveness through upgrading and expanding factories and investing in automation technology in production.

- Organize lean production towards specialization and automation. Apply and operate ERP software in units to manage production and business activities.

- Develop a diverse supply chain and control product quality, costs, and prices throughout the chain. Control ordering plans, inventory, and investment expenses to reduce financial costs.

In 2025, we will continue to improve our organization and upgrade our management towards streamlining and efficiency. Promote the application of digitalization in production and business activities.

Based on the characteristics of THACO industrial people, we inherit and develop the unique characteristics of THACO INDUSTRIES to form a team of personnel that ensures new criteria and standards, meeting the strategy with the goals of "pioneering, flexible, safe, quality" .

THACO INDUSTRIES has always been steadfast in its goal of participating in the global value chain. Up to now, the Group has exported to 20 countries with more than 60 international customers and 165 domestic customers. This year, we continue to adhere to our strategic goals and, at the same time, continue to improve our apparatus and upgrade our management, apply digitalization, and ERP software to our production and business activities.

5. Mr. Tran Anh Vu - Permanent Deputy General Director of THADICO

2024 is a year of many difficulties and challenges for THADICO and the Investment - Construction sector in general. However, with efforts to overcome difficulties, THADICO's staff have: completed the construction of the Ba Son Bridge art lighting project (phase 1); handed over the Chu Lai 50,000-ton port expansion and upgrade project to THILOGI; completed and handed over to THACO INDUSTRIES to put into operation the R&D Center and manufacturing plants; deployed the construction of the main infrastructure of the industrial parks in Chu Lai and Thai Binh; handed over to THISO to put into operation the Hong Kong restaurant on the 4th floor of Thiso Mall Sala.

Entering 2025, THADICO is determined to change and make breakthroughs to complete key tasks according to Message No. 20 - 2025 of the Chairman of the Board of Directors of THACO, with specific management solutions as follows:

- Establish and operate the Public Administration Relations Department (including Regional Departments), specializing in developing and implementing operational solutions for Public Administration Agencies at local/relevant ministries and sectors for each specific project. Implement the consolidation and upgrading of the legal management at the Executive Office to perform the function of forecasting and advising the Board of Directors on policies, guidelines, and specialized legal regulations (on investment, land, planning and construction), and at the same time appraising, controlling and coordinating the implementation of legal procedures for THADICO's key projects.

- Working with THISO and the TĐTVs to build design models that are suitable for the strategy and business model of each project ; at the same time, preside over and manage all models and design ideas throughout the implementation process, ensuring and preserving internal design technologies and processes.

- Focus on developing human resources in line with THACO's philosophy, culture and industrial management methods, promoting "integrity and honesty" of human resources in the Investment - Construction sector.

- Applying Artificial Intelligence and Digital Technology in design and construction; at the same time, deploying the ERP system , improving management capacity, increasing operational efficiency, aiming for comprehensive digitalization from 2027.

Message No. 20 - 2025 has inspired and aroused the determination of all THADICO employees to complete the goals, first of all the 2025 plan and further the goal of developing the THADICO brand (Dai Quang Minh) - a pioneering Group in the field of Investment - Construction; and developing human resources with superior, industrial characteristics, especially the leadership team.

On behalf of the Board of Directors and all THADICO employees, with the highest determination, I hereby commit to completing the key tasks according to the content of Message No. 20 - 2025 of the Chairman of the Board of Directors of THACO.

6. Ms. Tran Vien Ngoc Oanh - Deputy General Director of THISO

In 2024, after more than 3 years of establishment, THISO has gradually invested in completing and consolidating the strategic model "One destination - Many utilities and services", integrating Thiso Mall, Emart Supermarket, Thiskyhall Wedding Center (TC) and F&B models developed by THISO. Total revenue in 2024 reached more than 5,780 billion VND.

The year 2025 is forecasted to still have many challenges, but at the same time, it also brings many development opportunities if we know how to take advantage of and promote the available potential. At today's Opening Ceremony, THISO pledges to be highly determined and make every effort to complete the goals set out in Message No. 20 - 2025 of the Chairman of the Board of Directors of THACO, specifically as follows:

For Real Estate Business & Management: revenue target is 2,300 billion VND. In 2025, 4 more commercial and service real estate projects will be started to operate from 2026. Regarding consumer retail business at the Emart Supermarket system: revenue target is 3,737 billion VND.

Regarding TTHN-TC and F&B business activities: revenue target is 228 billion VND. Completed putting into operation the 2nd Thiskyhall branch at Thiso TC-PHI Shopping Center and 03 F&B models with private brands developed by THISO.

To achieve the above goals, in 2025, THISO will strengthen training and encourage employees to constantly strive to innovate their thinking and be ready to change to develop with the company. At the same time, deploy ERP programs for direct business units, helping leaders to proactively, promptly and optimally manage resources at the unit. Put into operation the Thiso Rewards application to improve service quality, enhance customer experience and support the business activities of THISO's strategic tenants.

After today's Opening Ceremony, THISO will deploy to each unit to concretize the set goals; move towards assigning KPI targets to each individual, ensuring that each unit/individual has a firm grasp of them to complete the 2025 plan and aim towards THACO's common goal - perfecting the management platform of a large-scale multi-industry corporation by 2027.

Once again, on behalf of the Board of Directors and all THISO employees, with the highest determination, we pledge to closely follow the direction from Message No. 20 of the Chairman of the Board of Directors of THACO and strive to complete the set targets.

7. Mr. Bui Minh Truc - General Director of THILOGI

Starting with the mission of supporting THACO's production activities in Chu Lai, THILOGI has continuously improved and developed to become a full-service logistics provider for domestic and international routes. This journey has contributed significantly to optimizing production and business costs for THACO's factories and gradually creating a foundation for economic development for the locality and region.

In 2025, the logistics industry will still face many challenges due to the impact of tariff barriers imposed by major countries. However, there are still many opportunities to develop a logistics service supply chain at lower costs when the volume of goods in circulation tends to decrease, as well as creating opportunities for export goods from Vietnam to the US and Europe. 2025 will be a pivotal year, marking a strong transformation of the Vietnamese logistics market with many innovative trends. For THILOGI, this is an opportunity to affirm its pioneering position in the Central Highlands region, maximize existing advantages, expand the market, especially international shipping services and full-package logistics; set a revenue target of nearly 5,400 billion VND, an increase of 40% compared to 2024.

To realize this, we focus on key goals that are considered pillars for THILOGI's development strategy in the coming time:

About Investment:

- Establish Indochina transport companies to continue expanding operations in Laos and Cambodia. Accordingly, 200 road transport vehicles will be invested to connect goods from Laos, Cambodia, and the Central Highlands to Chu Lai port for export.

- Complete the project to upgrade the existing Ky Ha channel to increase the capacity to receive large tonnage ships at Chu Lai port. Continue to invest in loading and unloading equipment and wharf infrastructure to improve the capacity of Chu Lai port.

- For maritime transport: invest and put into operation 02 container ships from the first quarter of 2026 to meet the requirements of transporting fresh fruit for THACO AGRI and export container goods of enterprises in Quang Nam, Quang Ngai and neighboring areas.

About the solution:

- Proactively build logistics solutions for goods sources from China, Korea, Japan, and India in the direction of directly implementing and controlling the entire service chain from supplier warehouse to factory warehouse to ensure cost optimization.

- Complete the network of connecting stations from Roads, Seaports - Warehouses, domestic and international sea transport, in which, Chu Lai port is the center to attract and develop import and export sources in the region.

About administration:

- Assign and manage business performance according to KPI targets to each human resource component in the group according to the 3-level management principle from the group to each member unit.

- To accelerate the digital conversion roadmap, focus on completing and deploying ERP applications for affiliated companies.

- In terms of personnel in the current context, we will focus on developing a team of personnel in accordance with the criteria of international logistics and digital transformation.

Over 15 years, Thilogi has passed the first stage of development, logistics will play an important role in Thaco's overall operation. Li is true , creating a real value , worthy of the belief that the Board of Directors entrusted.

We will unite, create, firmly to implement plans in 2025 and further goals in the future!

Source: https://thacogroup.vn/phat-bieu-huong-ung-thong-diep-so-20-cua-lanh-dao-thaco-va-cac-tap-doan-thanh-vien