AN CUONG (ACG) ORGANIZED THE ANNUAL MEETING OF SHAREHOLDERS 2022

(Ho Chi Minh City) On June 6, 2022, at New World Saigon Hotel, An Cuong Wood Joint Stock Company (Code: ACG) held the Annual General Meeting of Shareholders (GMS) in 2022. with the attendance of the Company's Board of Directors, strategic shareholders are Sumitomo Forestry, VinaCapital-DEG, Company shareholders and representatives of press agencies.

This General Meeting of Shareholders approved the business plan for 2022. Accordingly, the company is expected to achieve revenue target of VND 4,242 billion and profit after tax of VND 550.1 billion, up 28.8% and 21 percent respectively. .9% compared to 2021. According to the assessment of ACG Board of Directors, the plan for 2022 is feasible because it is based on the results achieved in the first 5 months of the year and the forecast for the rest of the year until the end of the year (if there is no change). In the event of a big impact like the Covid epidemic in 2021), the company can completely meet or exceed the 2022 plan.

In the first 6 months of 2021, the company experienced strong growth, reaching VND 1,709.6 billion in revenue and VND 237.5 billion in profit after tax, up 5.8% and 43.1% respectively over the same period last year. 2020. However, in the second half of 2021, under the strong impact of the Covid-19 epidemic, the company's revenue and after-tax profit were significantly affected. For the whole year of 2021, the company's consolidated revenue reached VND 3,293.5 billion (down 12.3% compared to 2020). Thanks to proactively cutting costs and focusing on orders with good profit margins, the company's consolidated profit after tax reached VND 451 billion (down only 8.3% compared to 2020). Although the results in 2021 are lower than in 2020, the Company's business results are highly appreciated (when compared to other companies in the same industry) in the context of Covid-19

Entering 2022, the company's first quarter business results grew positively. Specifically, thanks to the control of the epidemic and the Government's economic recovery measures, the demand for the company's goods has been strengthened, and the company's revenue and after-tax profit in the first quarter of 2022 kept maintaining the growth trend, increasing by 8.7% and 18.7% respectively over the same period in 2021. Besides, according to available data, business results in April and May 2022 continue the growth momentum. , with an increase of more than 20% over the same period in 2021.

In terms of business orientation, ACG continues to be steadfast in its core business; promote R&D; constantly improve the company's reputation and brand, product and service quality, continue to dominate the domestic market share in the field of wood and industrial wood materials in the high- and mid-end segment, and open Expanding export markets, focusing on developed countries.

In addition, in 2022, ACG has accepted the project "Operation Process Improvement". At the same time, promulgate, implement and supervise the implementation of the process within the parent company and its subsidiaries. On that basis, the company combined with the implementation of digitization and digital transformation of the entire company's operations to improve operational efficiency, reduce costs and increase the effectiveness of the control system. internal.

From 2021, the company promotes financial and investment activities with positive results, the CAGR of financial revenue and financial profit in the period 2017-2021 will reach 51.6% and respectively. 58.9%. In 2022, the company will continue to promote investment and M&A activities in a prudent and safe direction to support core business activities and increase capital efficiency. It is expected that financial profit of ACG will continue to increase in 2022 and increase strongly in 2023-2024.

Regarding dividends, in 2021, ACG approves paying dividends at the rate of 80%. In which, 50% of shares have been paid and the company has also advanced a cash dividend at the rate of 5%. ACG plans to pay a cash dividend at the rate of 20% right in June 2022.

According to the latest update, on May 31, HOSE received an application to list 135.8 million ACG shares with charter capital of VND 1,358.46 billion.