Press release of the Vinacontrol Group's Annual General Meeting of Shareholders in 2021

Today (May 27, 2021), Vinacontrol Group Corporation holds the Annual General Meeting of Shareholders 2021 at the International Conference Center with the participation of the General Manager, Board of Directors, Board of Supervisors, and shareholders of Vinacontrol Group. The Annual General Meeting of Shareholders has approved the report on business results and profit distribution of 2020, the business plan for 2021, and other important contents.

In 2020, the Covid-19 pandemic has caused a serious crisis in most economies and economic regions around the globe. Global trade stagnated, a wave of business bankruptcies spread around the world. In Vietnam, natural disasters and epidemics also have a significant impact on the activities of the economy and people's lives. Like many domestic enterprises, Vinacontrol has also experienced the tumultuous year 2020.

The implementation of isolation in many provinces and cities across the country makes it difficult or impossible to perform the assessment requirements; the source of raw materials and goods imported from China at times slowed down, causing the demand for inspection to fluctuate sharply; changes in policies of state management agencies, Customs expands the scope of designation, authorizes many assessment organizations, abolishes/reduces specialized procedures, tends to gradually reduce designation for independent inspection organization. Therefore, groups of goods/services serving the State Administration that account for a very large proportion of Vinacontrol's revenue structure is currently decreasing significantly. The fierce competition from domestic and foreign inspection organizations put pressure on service fees to gradually decrease to gain market share… All of which have greatly affected Vinacontrol's business activities.

But with the right policy and direction, determination, creativity, Vinacontrol has taken advantage of opportunities to overcome challenges and completed the annual tasks assigned by the General Meeting of Shareholders, specifically as follows:
- Reported consolidated revenue reached 581,176,441,329 VND (over 5.66% of the assigned plan)
- The combined reported profit after tax reached 34,249,693,850 VND (exceeding 1.33% of the assigned plan).
- The dividend paid in 2 installments in 2020 is 15%/charter capital.

Vinacontrol continues to be the leading inspection, certification, and testing organization in Vietnam.

Oriented in the coming time, Vinacontrol continues to have a policy of keeping core and traditional services; focus on investing in appropriate technical/professional personnel to meet the requirements for new services, state management services, and bidding projects. Besides, Vinacontrol is also gradually applying technology, digital transformation into the process to help the management/implementation become more and more professional, save cost and time, improve competitiveness in the international market.

It is forecasted that in 2021, the world economy still has many unpredictable unknowns, the epidemic still contains risks that show no signs of stopping. Based on analysis and assessment of the general economic situation, Vinacontrol set the business plan target of 2021 to slightly increase compared to the same period last year, specifically, revenue reached 585 billion VND, profit after tax reached 36.5 billion VND and the minimum dividend rate is 12% on charter capital.