Company related to Chairman Ha Quang Tuan wants to withdraw all capital contribution at Hanoimilk

The transaction is expected to be carried out by negotiation and order matching from December 24, 2024 to January 22, 2025. Hoang Mai Xanh Joint Stock Company is a company chaired by Mr. Ha Quang Tuan, Chairman of the Board of Directors of Hanoimilk.

The transaction is expected to be carried out by negotiation and order matching from December 24, 2024 to January 22, 2025. Hoang Mai Xanh Joint Stock Company is a company chaired by Mr. Ha Quang Tuan, Chairman of the Board of Directors of Hanoimilk.

Hoang Mai Xanh Joint Stock Company announced that it has registered to sell all 5.55 million HNM shares of Hanoi Milk Joint Stock Company (Hanoimilk, code HN - UPCoM floor), equivalent to 12.5% of this enterprise to restructure its portfolio.

The transaction is expected to be carried out by negotiation and order matching from December 24, 2024 to January 22, 2025.

Hoang Mai Xanh is a company chaired by Mr. Ha Quang Tuan, Chairman of the Board of Directors of Hanoimilk. Mr. Ha Quang Tuan currently holds more than 14.07 million HNM shares (31.7%). Hoang Mai Xanh is not the only one who wants to divest capital here. Previously, Mr. Hoang Van Thuat, a major shareholder of Hanoimilk, sold more than 4.2 million HNM shares in the session of December 10 to solve personal financial needs. Mr. Thuat has reduced his ownership in Hanoimilk to more than 6.51 million shares, equivalent to 14.66%.

Hanoimilk was established in 2001 and is known as the owner of the IZZI milk brand. This company had a period of loss-making business in 2017-2019. It was not until the end of the second quarter of 2024 that Hanoimilk was able to erase its accumulated losses. For many years, the company has not paid dividends to shareholders due to unfavorable business conditions. In the third quarter of 2024, the company's revenue reached VND 216 billion, an increase of 18% compared to the beginning of the year. However, the high cost of goods sold has reduced the company's gross profit compared to the same period, down to VND 32 billion. In addition, the arising selling costs have reduced Hanoimilk's profit to VND 10 billion, a decrease of 26%.

By the end of the first 9 months of 2024, Hanoimilk recorded revenue of VND531 billion, up 7% over the same period, but profit after tax was only VND23 billion, down 38%. The company has completed 66% of the revenue plan (VND800 billion) and 62% of the pre-tax profit target (VND48 billion) for this year.

On the stock market, HNM shares are trading at VND12,200/share, down about 16% compared to the end of last year.

Source: https://baodautu.vn/cong-ty-lien-quan-den-chu-tich-ha-quang-tuan-muon-rut-toan-bo-von-gop-tai-hanoimilk-d233147.html