Updated: 14/2/2022 | 4:47:56 PM

The leaders of the units will report on the business performance in January 2022 as well as the implementation strategy for February 2022 during this meeting.

Before beginning each category's report, Chairman of the Board of Directors - General Director Bui Minh Luc conveyed Tet wishes to all representatives of the Department's leaders and members, as well as providing a review of the accomplishments in 2021. Despite the fact that the Covid-19 pandemic had some negative effects on the Group's economic performance, Hoa Binh Minh continued to invest in a car project in Binh Phuoc and Ha Nam. Hoa Binh Minh successfully completed the M&A of the Vinfast Vung Tau and HEAD Honda Binh Duong projects, was designated as a Mitsubishi dealer in Bien Hoa, and successfully divested the CMC brick factory. In addition, the automobile and motorcycle categories received high certifications from Honda Vietnam – TOP 10 excellent car dealers, TOP 3/802 HEAD motorbikes at Ki97.

Chairman of the Board of Directors - General Director Bui Minh Luc provided strategic direction for the years 2021 to 2030. Hoa Binh Minh will become Vietnam's foremost Trading, Service, and Investment group, maintaining its leadership in existing industries while seeking new investment opportunities.

The years 2021-2025 are designated as a breakthrough in Hoa Binh Minh's development, with the Group developing production and business in tandem with system reform and action targets. In which 2022 is set to be the critical year of acceleration, as the company approaches its revenue target of over 2 billion dollars. According to the 2022 plan, in addition to restructuring the management and operating systems of the business, the Group will cooperate in a joint venture with A My Company to produce ceramic tiles, deploy the construction of industrial zones and clusters, open 06 car dealerships in Yen Bai, Binh Phuoc, Dong Nai, Binh Duong, Ha Nam and Bac Giang, complete the hotel in Yen Bai, and upgrade the system of dealers and showrooms for motorcycles, cars, and building materials.

The Board of Directors and the member units of Hoa Binh Minh Group at the online progress meeting

REPORTS ON CATEGORIES

In 2021, the categories of the Hoa Binh Minh Group have all made significant efforts to overcome challenges, closely following the authorized business plan to meet the allocated targets.

In January 2022, the automotive category sold 1,271, a rise of 138% over the same time in 2021. The number of automobiles entering the repair business increased by 134% to 32,452. Sales increasing services increased by 125%. Service increasing services increased by 136%.

Northern Motorcycles sold 5,070 motorcycles in January 2022, up 127% over the same period and 112% more than the target. The total number of vehicles sold in wholesale was 547, up 207% over the same period in 2021. In addition, compared to the plan, all other services such as selling accessories, car stickers, registration, and insurance increased by more than 100%. The category is predicted to have retail sales of 2,189 automobiles in February 2022. Northern Motorcycles will also finish the stores of Binh Minh 2, Binh Minh 3, Binh Minh 6, and Minh Thanh 1 before March, according to the plan registered with Honda Vietnam.

Southern Motorcycles also had growth in January 2022. The number of vehicles sold was 4,902 vehicles, an increase of 120% over the same period and 118% of the target. In comparison to the plan, accessories jumped by 114%. Car stickers service reached 109%. Registration reached 110% of the plan. Insurance accounted for 121% of the plan, up 127% over the same period. In February, the plan is to sell 5,036 vehicles, a rise of 124%, with installment sales up 125%, accessories up 120%, registration up 111%, insurance up 127%, insurance increased by 116%.

Campaigns to boost offline and online sales will be implemented, along with policies to reward retail targets, inventory discarding and customer gratitude programs.

The steel category in January 2022 saw an increase in steel imports by 181%, cement by 33% over the same period. Steel sold 35,195 tons, up 178% over the same period. Cement output was 10,660 tons, up 53% compared to the plan. The category's total income climbed 101% over the plan and 186% over the same period in 2021. Steel's aim for February 2022 is anticipated to be 29,900 tons, up 117% over the same time in 2021, while cement's target is estimated to be 497,243 tons, up 136%.

The brick category had a fantastic month at the start of the year, exceeding its sales objective. In January 2022, 35 branches around the country achieved a total output of 400,700 m2 and generated 45.4 billion VND in revenue, up 10% from the same time in 2021. The brick industry is predicted to reach a sales volume of 256,000 m2 in February 2022. In addition to the successful negotiation on sales policy with brick factories CMC, A My, Trung Nguyen, Catalan, Vicenza, the brick category has completed a new 60x60 tile model at TTC (garden), 60 Ceramic or 15x90 at A My and 50x50 tiles at Vicenza.

The Agricultural Center of the Group has experienced general challenges of the animal market as a result of the blue ear epidemic, African cholera outbreak, and Covid-19 pandemic, which have driven up raw material prices. To address the revenue shortfall, the Center has devised a strategy that adapts to the current situation, focusing all human and material resources on epidemic control and production stabilization. In terms of financial outcomes, the Center earned 3.3 billion VND in January 2022.

Hoa Binh Yen Bai had a great month of business at the beginning of the year, with total sales of more than 117 billion VND in January 2021, up 147% over the same period, with motorcycle revenue up 132%, building material revenue up 172%, and transportation revenue up 109%.

Chairman - General Director Bui Minh Luc speaking at the online progress meeting

Chairman - General Director Bui Minh Luc praised the work of the leaders of member units. Despite confronting numerous challenges in production and commercial activities as a result of the pandemic, all categories have made good progress in the first month of the year. Cars and motorbikes, for example, performed better than expected, while the building material category had good debt recovery, inventory management, and well-prepared goods for the Spring sales plan.

Chairman - General Director Bui Minh Luc was pleased to announce that Hoa Binh Minh has been approved by Honda Vietnam to become a dealer at Honda Automobile in Thu Dau Mot city, Binh Duong province - a potential market ranked 3rd in the country.

Chairman, General Director Bui Minh Luc requires each individual, department, and member unit to arrange themselves and restructure all activities in order to carefully prepare for the business plan in the coming months of 2022 while ensuring connectivity, and improving Hoa Binh Minh culture in the working environment. All motivations for action must be for the benefit of the group. When putting the company plan into action, it's critical to keep a careful eye on the market. Within each category and department, there is a requirement to properly administer training and advice. Each individual must have a spirit of self-learning, self-improvement, and awareness, with over 4,300 employees in the entire system, to form a collective strength in knowledge and culture, which will be the foundation for an innovative, different, and breakthrough Hoa Binh Minh when fully exploited.