SAO MAI GROUP (ASM) SETS A TARGET PROFIT OF 800 BILLION VND, A 217.46% INCREASE IN 2024, PLANS TO DISTRIBUTE 10% DIVIDENDS, AND PLANS CLEAN ENERGY INVESTMENT IN LAOS

On April 21st, at the Dong Xuyen Hotel Convention Center in Long Xuyen City, An Giang Province, Sao Mai Group (stock code ASM) held its 2024 Annual General Meeting of Shareholders, aiming for a 217.46% increase in after-tax profit.

At the meeting, many important issues were approved. According to the published documents, Sao Mai set a target of 14,222 billion VND in consolidated revenue and VND 800 billion in total after-tax profit for 2024. Previously, in 2023, Sao Mai recorded consolidated revenue of over 11,973 billion VND and after-tax profit of nearly 252 billion VND. Compared to the results of 2023, Sao Mai Group's business plan for 2024 is expected to grow by 18.8% in revenue.

Regarding the profit distribution plan and dividend payment for 2023, Sao Mai Group submitted to the General Meeting of Shareholders a plan to pay dividends for 2022 and 2023 in shares at a rate of 10%. As of December 31, 2023, Sao Mai Group had total assets of over 20,307 billion VND, an increase of 6.4% compared to the beginning of the year.

Sao Mai Group is a multi-industry Group with many business areas, including seafood, clean energy, real estate, aquaculture feed production, tourism, and financial investment, which are regaining their strength after the COVID-19 pandemic.

Sharing with shareholders at the General Meeting, Mr. Le Thanh Thuan, Chairman of the Founding and Development Board of Sao Mai Group emphasized: "For Sao Mai, the 2019-2024 strategic period is gradually coming to an end with Sao Mai having completed all important financial goals. To continue sustainable development, Sao Mai, on the one hand, promotes the achievements of the past strategy and, on the other hand, makes necessary adjustments to further enhance the Group's position. Among them, the plan to invest in clean energy in Laos is being seriously studied by the Board of Directors to find the most feasible solution."

The 2024 Annual General Meeting of Shareholders elected a new Board of Directors and Board of Supervisors for the term 2024-2028, with Mr. Le Van Thanh as the Chairman of the Board of Directors of Sao Mai Group.