An Phat Holdings ecosystem has revenue of tens of thousands of billions, net profit margin of just over 1%
An Phat Holdings Corporation (Code: APH) is a "giant" in the plastic manufacturing industry in Vietnam with a charter capital of more than VND 2,400 billion. APH's ecosystem has 3 notable subsidiaries, including: An Phat Xanh Plastics Corporation (Code: AAA); Hanoi Plastics Corporation (Code: NHH); An Tien Industries Corporation (Code: HII).
Thanks to owning leading manufacturing facilities in the plastics industry, APH's revenue recorded each year reaches tens of thousands of billions of VND.
The An Phat Holdings (APH) ecosystem is experiencing major changes as the Chairman of the Board of Directors resigns and sells all shares right before the Shareholders' Meeting. (Photo TL)
For example, in the period 2021-2023, APH's annual revenue was over 10,000 billion. In 2021, the company recorded revenue of 14,794 billion VND, profit after tax reached 238 billion VND. In 2022, revenue increased to 17,327 billion VND but net profit decreased to only 57 billion. In 2023, the company's revenue decreased to 14,522 billion VND but profit after tax increased again to 219 billion VND.
Notably, in these 3 years, An Phat Holdings' net profit margin was extremely low, only from 0.3% to 1.6%. Equivalent to each 100 VND of revenue only giving from 0.3 to 1.6 VND of net profit.
This situation has improved in the first 6 months of 2024. Revenue in the period reached 6,643 billion VND, profit after tax reached 271 billion, equivalent to a net profit margin of more than 4%.
The reason is explained by the controlled cost of goods sold. Along with that, the increase in financial revenue and the decrease in financial expenses by nearly 60 billion VND compared to the same period helped APH increase its profit during the period.
Top-level turmoil right before the 2024 Annual General Meeting of Shareholders
Despite the significant improvement in business results, the top management structure of An Phat Holdings is undergoing major changes. In just a short time, Mr. Pham Anh Duong, Chairman of the Board of Directors of An Phat Holdings Corporation, registered to sell all of the shares he holds.
In early September, Mr. Duong registered to sell 6.67 million APH shares, with the trading period from September 6, 2024 to September 24, 2024. After the above transaction, Mr. Duong reduced the number of APH shares he held from 11.87 million to 5.2 million units, equivalent to 2.13%.
Immediately after that, Mr. Duong continued to register to sell the remaining shares, the expected transaction time is from October 1, 2024 to October 30, 2024. In addition to registering to sell APH shares, Mr. Duong also submitted his resignation from the position of Chairman of the Board of Directors and resigned from the position of member of the Board of Directors of An Phat Holdings.
In addition to Mr. Duong, many leaders of An Phat Holdings have also sold large amounts of shares they hold. Notable transactions by leaders include: Mr. Pham Do Huy Cuong - Member of the Board of Directors and General Director sold 750,000 shares; Ms. Tran Thi Thoan - Deputy General Director in charge of production sold all 500,000 shares; Ms. Nguyen Thi Tien - Permanent Vice Chairman of the Board of Directors and Deputy General Director sold 750,000 shares; Ms. Hoa Thi Thu Ha - Deputy Director in charge of finance sold 500,000 shares.
The resignation of the Chairman of the Board of Directors and a series of leaders selling shares right before the 2024 Annual General Meeting of Shareholders of An Phat Holdings has made many shareholders worried.
APH stock price has also been affected recently, falling significantly. Compared to the most recent peak, APH has decreased from VND 10,750/share at the end of May to VND 6,310/share in the session on September 27, 2024. The decrease rate is equivalent to 41%.
Source: https://www.congluan.vn/doanh-thu-chuc-nghin-ty-bien-loi-nhuan-rong-chi-hon-1-chu-tich-an-phat-holdings-aph-bat-ngo-tu-nhiem-truoc-them-dhdcd-thuong-nien-post314185.html
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