TTC AgriS completed more than 50% of the 2024-2025 fiscal year plan

Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, HOSE: SBT) said that in the first 6 months of the 2024-2025 fiscal year, TTC AgriS has completed more than 50% of the annual plan.

According to the Board of Directors of TTC AgriS, the Company's business results in the second quarter of the 2024-2025 fiscal year recorded positive growth with net revenue reaching more than VND 7,500 billion, up 7.4%, pre-tax profit reaching more than VND 265 billion, up 16% over the same period. Profit after tax reached more than VND 230 billion, an impressive growth of 30% over the same period last fiscal year.

Accumulated in the first 6 months of the 2024-2025 fiscal year, total net revenue reached VND 14,360 billion, completing 55% of the plan, pre-tax profit reached VND 530 billion, completing 59% of the fiscal year plan. Consumption output in the second quarter reached more than 360 thousand tons of sugar, up 11.25% over the same period, in which the industrial channel (B2B) and the domestic trade channel (trader) both grew well.

With the above results, TTC AgriS leaders said that promoting growth closely following the goal of completing the 2024-2025 fiscal year plan, implementing the transformation of the operating model closely following the orientation of applying the Circular Commercial Value Chain model, creating a solid foundation to accelerate the implementation of the 2025-2030 strategy, aiming for a revenue target of 60,000 billion VND by 2030.

On January 23 in Tay Ninh, TTC AgriS successfully held the Extraordinary General Meeting of Shareholders for the fiscal year 2024-2025. Accordingly, the TTC AgriS General Meeting of Shareholders unanimously approved the proposed contents. The TTC AgriS General Meeting of Shareholders has just unanimously approved 4 proposals with the main contents related to amending and supplementing the Charter; amending and supplementing the internal regulations on corporate governance (CG); amending the regulations on organization and operation of the Board of Directors (BOD) and the Plan for offering convertible bonds.

All proposals were unanimously approved by shareholders with a rate of more than 99.99%. Specifically, the proposals on amending the Charter, internal regulations on corporate governance, regulations on organization and operation of the Board of Directors were approved by the General Meeting of Shareholders, aiming to establish a more complete legal framework on governance, closely following the new business model, while ensuring consistency and compliance with legal regulations, aiming to increase transparency in corporate governance activities, ensuring maximum benefits for shareholders, especially small shareholders, and complying with the best corporate governance practices according to international standards.

C TTC AgriS successfully held the 2024-2025 Extraordinary General Meeting of Shareholders on January 23, 2025.

In particular, the proposal for the convertible bond offering has received much attention from shareholders. The purpose of the issuance is to increase capital scale and supplement working capital to implement the strategy of participating in the food - beverage - milk - confectionery market (FBMC).

According to the plan, TTC AgriS will issue convertible bonds with a total value of nearly VND 500 billion to existing common shareholders with an exercise ratio of 16,291/100 (for each common share owned by a shareholder on the shareholder record date, that shareholder will have 1 purchase right and a shareholder owning 162.91 purchase rights will be able to buy 1 bond).

The bonds can be converted into common shares at the discretion of the bondholders at the maturity date. These bonds are expected to be issued by the Company in 2025, immediately after receiving approval from the State Securities Commission.

Regarding the proposal to increase 1 member of the Board of Directors, the General Meeting of Shareholders agreed that it is necessary to add more members to meet the higher operational needs for the next fiscal year as well as the long-term development scale of the company. Therefore, this content will be drafted and continued to be submitted to the General Meeting of Shareholders in the next meeting.

Source: https://baodautu.vn/ttc-agris-hoan-thanh-hon-50-ke-hoach-nien-do-2024-2025-d242526.html