Members unit

On March 24, 2026, Ha Bac Fertilizer and Chemicals Joint Stock Company held its 2026 Employee Delegates Conference—an important forum to promote employees’ direct democratic rights, comprehensively review the 2025 production and business performance, and agree on goals and solutions for 2026.

Attending the conference were Mr. Phung Quang Hiep, Secretary of the Party Committee and Chairman of the Members’ Council of the Vietnam National Chemical Group (Vinachem); Mr. Dao Trong Cuong, Deputy CEO of the Group; Mr. Nguyen Huy Thong, Chairman of the Vietnam Chemical Industry Trade Union; along with 120 delegates representing nearly 1,300 employees of the Company.

2025: Maintaining Efficiency, Ensuring Employment and Income

In 2025, the Company operated in a volatile market environment. However, thanks to decisive leadership and the efforts of its workforce, it maintained stable production, achieving urea output of 384,626 tons, sales of 382,168 tons, and total revenue of VND 4,353 billion.

Notably, this marked the fifth consecutive year of profitability, creating a solid foundation for ensuring employment, income, and employee welfare. The Company maintained full implementation of salary, bonus, insurance, and welfare policies, helping employees remain committed and confident in their work.

Employee welfare programs continued to be effectively implemented through the collective labor agreement, improved working conditions, ensured occupational safety, and practical welfare activities. Welfare and reward funds were managed transparently, enhancing internal cohesion.

In addition, the Company proactively managed production operations and flexibly secured raw material supply, contributing to increased output and business efficiency. Export volume reached 65,340 tons, valued at approximately USD 28 million. Innovation and technical improvement initiatives remained effective, with 18 recognized initiatives generating benefits of VND 26.5 billion and cost savings of approximately VND 48 billion.

2026 Orientation: Growth Linked with Improved Employee Well-being

For 2026, the Company targets revenue of VND 4,875 billion and profit of VND 242 billion; urea production of 452,000 tons and sales of 448,000 tons.

To achieve these goals, the Company will focus on enhancing governance capacity; ensuring safe and stable operations; optimizing costs; proactively securing material supply; expanding markets; and accelerating investment and digital transformation in corporate management.

At the same time, the Company continues to place employees at the center of development, prioritizing income growth linked to business performance; improving working conditions; strengthening training and skill development; maintaining regular dialogue; and promoting the role of the trade union in protecting employees’ legitimate rights and interests.

Directive from Group Leadership: Balancing Efficiency and Human Development

In his speech, Mr. Phung Quang Hiep emphasized that the Employee Conference is an important occasion for Group leadership to directly engage with and listen to the Company’s management and workforce. He also praised the Company’s strong cultural tradition, where each conference provides an opportunity for generations of leaders and employees to connect, share, and reflect on the development journey. This cohesion, he noted, is a fundamental factor strengthening internal capacity and driving sustainable growth.

Regarding the 2025 report, he expressed general agreement and appreciation for the Company’s thorough and responsible preparation. The report not only highlighted positive achievements but also candidly pointed out shortcomings. He stressed that correctly identifying weaknesses is essential to formulating effective solutions—without accurate diagnosis, there can be no effective remedy.

Despite challenges in 2025, including natural disasters, market fluctuations, and pressure on product consumption, the Company achieved commendable results. However, he emphasized the need for objective assessment: strengths must be further promoted, while shortcomings must be seriously addressed.

For 2026, he outlined key priorities:

• Production operations: Ensure stable, continuous, and safe operations; capitalize on favorable market conditions and positive price levels to maximize efficiency. 
• Materials and equipment: Develop contingency plans and ensure sufficient supply of essential materials; adopt a long-term perspective to avoid short-term cost-saving decisions that may lead to long-term inefficiencies. 
• Products and markets: Leverage core product strengths while diversifying offerings; maximize the use of raw materials and by-products; maintain stable markets and build sustainable customer relationships. 
• Investment and development: Accelerate project implementation with a focus on efficiency; prioritize automation and modernization to reduce reliance on manual labor and improve productivity and quality. 
• Organization and human resources: Streamline the organizational structure for efficiency; strengthen training and leadership development; promote internal talent. 
• Cost optimization: Review and optimize consumption norms; explore alternative materials to reduce costs while maintaining product quality. 
He emphasized that failure to invest and innovate would be a disservice to past, present, and future generations, urging decisive and proactive action without delay.
While 2026 is expected to bring both opportunities and challenges, he expressed confidence that, with unity, responsibility, and a strong commitment to innovation, the Company will achieve and exceed its targets.

Creating Momentum for Sustainable Development

The Conference announced the election results of the new People’s Inspection Board (2026–2028 term), honored outstanding collectives and individuals, and signed the 2026 Collective Labor Agreement—an important foundation for building stable and sustainable labor relations.

The Conference Resolution was adopted with high consensus, reflecting the strong determination of all employees to successfully accomplish the 2026 tasks.

The 2026 Employee Delegates Conference of Ha Bac Fertilizer and Chemicals JSC concluded successfully, creating new momentum for the Company to maintain stable growth, enhance competitiveness, and continuously improve employee well-being—the core foundation for sustainable development.