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SON HA ENERGY DEVELOPMENT JOINT STOCK COMPANY: LEADING THE CLEAN ENERGY TREND

15/06/2021

June 15, 2021, at the 2021 Annual General Meeting of Shareholders, Son Ha Energy Development Joint Stock Company (Stock code: SHE) passed a report on the summary of production and business activities in 2020 and the business plan in 2021, which continues to promote investment in the electric motorcycle industry, aiming to become one of the largest electric vehicle manufacturers in Vietnam.

2020: Steady growth before the pandemic

In 2020, the unexpected Covid 19 pandemic has seriously affected the entire domestic economy, causing many businesses to be in crisis, even shut down production. In this situation, from the beginning of the year, the Board of Directors of Son Ha Energy Development Joint Stock Company analyzed and identified the situation and made plans ready to respond to new developments in the market. Although more or less affected and difficult due to the epidemic, the company still actively implements the set production and business plans, always ensuring the items to serve the essential needs of the people. With the right strategy and wise steps of the Board of Directors and the highest efforts of all employees of the company, in 2020, SHE has achieved high growth with impressive numbers. Last year, SHE’s total revenue reached VND 246.2 billion, completing 107% of the annual plan; profit after tax reached VND 22.7 billion, reaching 108% compared to the annual plan.  The company’s charter capital increased by 31% compared to 2019 (from VND 50 billion to VND 65.75 billion). The dividend/charter capital ratio in 2020 for shareholders is 30%, of which 10% is in cash and 20% in shares.

Mr. Le Vinh Son – Chairman of the Board of Directors of Son Ha Group reported on the activities of the Board of Directors in 2020 and the operation plan in 2021

In addition, 2020 marks a strong transformation of SHE company when deciding to invest in expanding the field of production and business of the Electric Motorcycle industry, EVgo brand. The company has completed the investment of the electric motorcycle manufacturing and assembly plant in Bac Ninh and has been evaluated and certified cop by the Vietnam Register for the assembly of electric motorcycles. Previously, SHE has embarked with Bosch Group (Germany) – the leading corporation in the world in providing technology solutions and equipment used for electric vehicles – to develop EVgo electric motorcycle production technology, researched and manufactured by Son Ha. EVgo electric motorcycle has shown to the market two models of EVgo C and EVgo D at Head EVgo Center (462 Commune Dan, Hanoi). The company has also cooperated with distributors/ stores / agents to open product selling points in provinces and cities: Hanoi, Da Nang, Hai Phong, Ha Tinh …

In 2020, SHE has also completed investment and electricity supply in 02 rooftop solar power plants in Quang Nam with a total capacity of 1,750 KWP, total investment of about VND 25.8 billion, annual electricity sales of about VND 4.5 – 4.9 billion / year.

In addition, SHE’s traditional industries such as Thai Duong Energy have always held the no. 1 position in the market, quality is improved, developing more new product lines, especially Thai Duong Energy product lines combined with large capacity heat pumps for projects. The RO industry has a tremendous growth in sales, launching many new products to serve a variety of customer needs.

Moving closer to the goal of becoming one of the 3 largest electric vehicle manufacturers in Vietnam

At the meeting, sharing about the focus of production and business plan in 2021, Mr. Hoang Manh Tan – Director of SHE company said: For traditional items (Thai Duong Energy, RO), the company continues to promote form improvement, improve quality and diversify product designs. , production stability; at the same time, it continues to maintain and enhance the position of products in the market.

Mr. Hoang Manh Tan – Director of SHE Company approved the company’s business plan in 2021

Continue to consolidate management to ensure stable production and business operation of rooftop solar power projects that the company has invested in before.

Especially, for the electric motorcycle industry, EVgo label: this is identified as the focus of production and business of the company in the coming years. The company continues to promote investment in factory completion, stability and production development, bringing to the market more new models to diversify products to serve the full range of market segments, customers; at the same time, it aims to improve the ecosystem as well as create the best values for the development of the country. With the advantages of this “Green Vehicle” compared to vehicles using internal combustion engines, she said that in the near future, electric motorbikes will become the main personal means of transportation to replace motorcycles using internal combustion engines; at the same time, we believe that this is the right investment orientation, in line with the trend of the times and will surely bring great achievements and successes to the company in the near future.

 

ACHIEVEMENTS AT THE GENERAL GENERAL OF SHAREHOLDERS OF SON HA ENERGY DEVELOPMENT JOINT STOCK COMPANY IN 2021

The 2021 Annual General Meeting of Shareholders unanimously approved the following contents:

1. Approval of business plan 2021 with revenue of VND 300 billion, profit of VND 20 billion.

2. The General Meeting elects members of the Board of Directors and Supervisory Board for the new term 2021 – 2026. Mr. Le Vinh Son was elected as Chairman of the Board of Directors and Mr. Nguyen Mai Chung was elected as the Head of the Supervisory Board for the new term.

3. SHE will increase its charter capital to VND 79,879,970,000 through the issuance of shares to pay dividends with the issuance rate of 20% and the issuance of shares under the employee selection program.

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