Sonadezi Long Binh sets revenue target for 2024 to exceed 500 billion VND

Sonadezi Long Binh Shareholding Company (Stock code: SZB) held the 2024 Annual General Meeting of Shareholders on March 28, 2024.

2024 Annual General Meeting of Shareholders of Sonadezi Long Binh

According to the 2023 report, SZB achieved total revenue of more than 402.3 billion VND, reaching 103.3% of the yearly plan. Profit after tax was 116.4 billion VND, reaching 104.3% of the yearly plan.

Revenue and profit after tax increased by 9%, dividend payment 35%.

Compared to the results of 2022, SZB's revenue and profit after tax both recorded an increase of 9%. The profit after tax/equity ratio reached 28.27%; the profit after tax/revenue ratio reached 28.92%. This is a positive sign for the development of the Company in the context of many general difficulties and increasing competition in the market. As of December 31, 2023, SZB's total assets reached about VND 1,487 billion.

Regarding investment activities, in 2023, SZB will focus resources on accelerating site clearance in Thanh Phu Industrial Park, investing in construction and putting into operation new factories in Chau Duc Industrial Park and Thanh Phu Industrial Park. At the same time, the Company continues to upgrade and reinvest in infrastructure in existing industrial parks to improve product/service quality.

According to the audited financial report, in the 5-year period (2019 - 2024), SZB's business activities maintained stable growth over the years, the  financial investments were effective, preserving and developing investment capital.

SZB sets revenue target of over 500 billion VND in 2024

In 2024, SZB aims to exceed VND500 billion in revenue, specifically VND520 billion; after-tax profit of more than VND189 billion. These targets increase by 29.2% and 62.7% respectively compared to the results achieved in 2023.

To achieve the plan, SZB will focus on exploiting available land funds and factories in Thanh Phu, Xuan Loc and Chau Duc Industrial Parks. At the same time, continue to invest in factory clusters on a total land fund of 54,000m² to meet the needs of investors. In addition, seeking new projects, research and propose investment cooperation projects within the Sonadezi Corporation as well as potential investors.

The General Meeting of Shareholders unanimously approved the 2023 business results and the 2023 profit distribution plan, the 2024 business plan and profit distribution plan, along with the reports presented at the General Meeting.

Also at the Congress, an important content that the General Meeting of Shareholders conducted was the election of members of the Board of Directors and the Supervisory Board for the fourth term (2024 - 2029). As a result, Ms. Luong Minh Hien was re-elected as Chairwoman, Ms. Luu Thi Thuy Van continued to be appointed as Head of the Supervisory Board and Mr. Nguyen Ba Chuyen continued to be appointed as General Director.

Board of Directors and Supervisory Board of Term IV (2024 - 2029) appeared at the Congress