On April 29, 2024, SCI Joint Stock Company (HNX: S99) successfully held the 2024 Annual General Meeting of Shareholders in an online form, reviewed the Report on Production and Business activities in 2023, Production and Business Plan in 2024 and many other important contents with high consensus.
In 2023, in a general context that was still volatile and unfavorable, we have proactively adapted, been flexible, and creative, implemented many appropriate response solutions, and achieved quite impressive results. According to the 2023 Audited Financial Report, SCI Group's consolidated revenue recorded 1,721.2 billion VND, completing 72.02% of the plan, and consolidated profit before tax reached 123.601 billion VND, completing 137.46% - exceeding the set plan. SCI Joint Stock Company (“SCI”), in particular, reached 1,422 billion VND, completing 110.38% of the plan, and pre-tax profit reached 145.839 billion VND, reaching 294.59% of the plan.
Regarding the results of Production and Business activities in 2023, SCI has successfully connected the power grid of two projects Nam Lum 1 and Nam Lum 2 in early 2023 and put Nam Xe hydropower plant into operation from June 2023 with a total capacity of 46 MW. At the same time, we have continuously maintained stable production at power plants: Ca Nan 1&2 hydropower plant cluster reached 116.8 billion VND in revenue (90% of the plan), Nam Lum 1&2 hydropower plant cluster, Nam Xe (since put into operation) reached 145.5 billion VND in revenue (95% of the plan).
In addition, SCI has continued to carry out construction contracts in Laos: EPC contract for Nam Sam 3 Hydropower Project, Signed and implemented EPC contract for Nam Mo 2 Hydropower Project with various items which have completed 60%-90% of the workload for each item - reaching the set progress.
In 2023, SCI has continued to research 02 potential wind power projects in Quang Tri that have been approved for survey, closely follow the status of Power Development Plan VIII, seek investment opportunities, and/or work as a Contractor for Energy and Hydropower projects in Vietnam and Laos. Meanwhile, we are also consulting, designing, surveying, preparing Feasibility Study reports, and supervising the construction of projects in Laos to ensure all the progress and requirements of the work are satisfied.
In 2024, the economy is gradually recovering after the COVID-19 pandemic, but there are still numerous difficulties in the State's price policy for renewable energy, challenges of increasing raw material prices, lack of human resources, economic recession, and rising inflation globally. In this context, the Production, Business, and Investment Development Plans for 2024 were voted on and approved at the Meeting with the following basic targets: SCI Group's consolidated revenue reached 2,264 billion VND, and pre-tax profit reached 137.129 billion VND.
The 2024 Annual General Meeting of Shareholders of SCI Joint Stock Company took place successfully and agreed on the following goals: Focus on production and stable operation of power plants; continue to seek and invest in renewable energy power plants; promote inherent strengths in the fields of infrastructure and hydropower; develop, negotiate, and sign projects in Laos and other countries in the region.
SCI is entirely confident in delivering exceptional business outcomes in 2024, generating momentum for long-term, sustainable development and constantly increasing benefits for shareholders, customers, and partners. Simultaneously, SCI continues to prioritize human factors by implementing policies to recruit talent, ensuring that employees are well-cared for and their rights are protected.
