VIETNAM ITALY STEEL JSC SUCCESSFULLY ORGANIZED THE 2025 ANNUAL SHAREHOLDERS MEETING
On the morning of March 28, 2025, Vietnam Italy Steel JSC successfully organized the 2025 Annual Shareholders Meeting with the total shares voting right attending the meeting accounting for 99.41%.
Members of the Board of Managers, Board of Supervisors, and Shareholders of the Company attended the meeting.
Vietnam's steel industry in 2024 continues to face many difficulties when selling prices drop sharply in the context the real estate industry, which has improved but not much, and the severe impact of typhoon Yagi in the Northern region, causing construction demand to plummet. Steel prices this year have adjusted down to the lowest level in the past 4 year and compete fiercely with cheap Chinese steel.
In that context, the company has made efforts and implemented many synchronous solutions to ensure business operations and stable income for employees such as: minimizing costs, reducing consumption in the production process...
In 2025 the steel market is forecasted to recover soon based on 3 main drivers: The real estate market will recover, public investment is expanded, and steel prices are expected to rise. The global steel demand outlook is forecast to be positive.
Based on the forecast of the market situation in 2025, the plan to operate the new rolling line at the Hai Phong factory, and the equity expansion plan; Vietnam Italy Steel JSC sets the target of 2025 sales output reaching 420,000 tons of steel, an increase of 131%; revenue reaching 5,891 billion VND, an increase of 129%; average salary reaching 13.83 million VND/person, an increase of 106%.
At the meeting, shareholders approved the following reports: Report on 2024 operation result and the plan for 2025 of BOM; report on the result of implementing the resolution of General meeting of Shareholder in 2024 and plan in 2025 of the BOD, submission on the audited financial statement in 2024; report on 2024 operation result and 2025 operation plan of the Inspection Committee, report on expense payment for the BOM and IC in 2024 and the remuneration and salary payment plan for the BOM and IC in 2025; submission on selecting the Audit Unit of 2025 financial statement.
The meeting also voted to approve the plan for the private placement of shares to increase the company's charter capital with the number of shares to be offered: 118,510,000 shares at an offering price of VND 10,000/share.
At the General Meeting, Shareholders have elected members of the BOM for the 2025 – 2030 period. Accordingly, shareholders voted to elect Mr. Yasuhiro Yonemura as a member of the BOM.
The 2025 Annual Shareholders Meeting ended successfully with high consensus and support from shareholders. In 2025, the Board of Managers, along with the Board of Directors and all employees will continue to gradually overcome difficulties, unite, and make continuous efforts to achieve the production and business plan approved by the General Shareholders Meeting.
Some pictures at the meeting:
