VINACHEM

In the afternoon of April 23, 2025, in Ho Chi Minh City, the Vietnam Pesticide Joint Stock Company (VIPESCO) successfully organized the Labor Conference 2025 and summarized the 2020-2025 patriotic emulation movement. Attending the conference were Mr. Le Ngoc Quang, Deputy General Director of Vietnam National Chemical Group; Mrs. Ho Thi Mai Huong, Vice president of Vietnam Industrial Chemical Trade Union, along with 96 delegates representing more than 400 employees of the Company.

At the Conference, delegates listened to Mr. Nguyen Than, General Director of the Company, present the Report on the Implementation of the 2024 Employee Conference Resolution and the operational direction for 2025. The report showed that in 2024, the agricultural sector benefited from increased agricultural product prices (such as coffee, durian, pepper, etc.), which boosted investment and production. However, extreme weather conditions (saline intrusion at the beginning of the year, storms and floods at the end of the year, especially Typhoon No. 3 - Yagi) had a significant impact on agricultural production. In addition, increasingly stringent regulations on plant protection products (PPPs), rising raw material prices due to geopolitical fluctuations, and fierce competition pushed production costs up, leading farmers to tend to reduce investment. The situation of oversupply, slow consumption, increased inventory, and the distribution system and people waiting for prices to fall caused many difficulties. Weak liquidity, high receivables, and productivity not commensurate with agricultural product prices further exacerbated the debt recovery issue.

Facing these challenges, the Company faced considerable difficulties in completing the 2024 planned targets. However, with high determination, Vipesco proactively analyzed the situation, seized business opportunities, and promptly implemented appropriate solutions. Specifically, the Company flexibly adjusted its sales policy, implemented appropriate promotional programs, and strengthened the sharing of market information with customers. Selling prices were adjusted in each period to balance input costs and market purchasing power. At the same time, consumption output was strictly controlled according to the actual needs of each region and customer segment. Vipesco also strengthened the management of outstanding debts, temporarily suspended the supply of goods to customers who did not meet credit conditions, thereby ensuring financial stability and sustainable development.

Thanks to the application of flexible and drastic strategies, Vipesco achieved encouraging results in 2024. Specifically: Industrial Production Value at actual prices reached VND 532.091 billion, up 6% compared to the same period in 2023; Revenue reached VND 569.865 billion, up 8% compared to the same period in 2023; Profit reached VND 23.817 billion, up 16% compared to the previous year and exceeding the annual plan by VND 1.817 billion (by 8%).