On April 25, 2022, Imexpharm successfully held its 2022 Annual General Meeting of Shareholders at its headquarters in Cao Lanh City, Dong Thap Province. This important annual event was organized meticulously and professionally, with the attendance of shareholders and authorized representatives representing over 91% of Imexpharm's voting shares.
In addition to shareholders and investors, the meeting was attended by Mr. Doan Tan Buu, Vice Chairman of the Dong Thap Provincial People's Committee, along with representatives from banks, investment funds, and long-standing business partners. During the meeting, Mr. Nguyen Quoc Dinh, Chairman of the Board of Directors, presented governance and supervision reports, while General Director, Pharmacist, Ms. Tran Thi Dao, delivered an update on the company’s operations and business activities.
Reflecting on 2021, a year of unprecedented challenges due to the fourth wave of the pandemic starting in May, Vietnam faced an unparalleled healthcare crisis, leading to disruptions in production and business operations across sectors.
The OTC market slowed significantly, and the ETC market nearly froze as hospitals shifted focus to pandemic prevention. Moreover, supply chain and logistics disruptions caused transportation challenges and soaring input material costs.
However, financial figures alone do not fully capture the effective management demonstrated by Imexpharm in 2021, an unprecedented year in the company's nearly 45-year history. People's Doctor, Pharmacist Tran Thi Dao, Imexpharm’s General Director, shared: "2021 was a year filled with immense challenges, but the most valuable and significant achievement for Imexpharm was safeguarding the health of more than 1,200 employees to the fullest extent possible. All Imexpharm staff were fully vaccinated at the earliest opportunity during the peak of the fourth pandemic wave. Additionally, the company maintained stable income policies and benefits, ensuring that employees could work with peace of mind."
Reflecting on this, Ms. Dao expressed her deep gratitude to healthcare professionals, local authorities, and the leadership at all levels of the Party and State who supported businesses in general, and Imexpharm in particular, during this "once-in-a-century" crisis.
Imexpharm encountered numerous obstacles, including stringent pandemic prevention measures to ensure employee safety and uninterrupted production. Implementing 3 (4) on-site production models drove up costs, negatively impacting profitability. For the first time in many years, Imexpharm reported a nearly 10% decline in after-tax profit compared to the previous year.
For 2022, Imexpharm set a revenue target of VND 1,450 billion and a profit target of VND 275 billion. Key objectives include securing EU-GMP certification for the IMP4 factory, maintaining effective management of its existing facilities, and strengthening risk control measures for products and markets. Additionally, good news was announced that a new invested and relocating plan will replace the current factory in downtown Cao Lanh and move to an industrial zone on the city's outskirts. This new facility will be a state-of-the-art pharmaceutical production complex, applying the most advanced technologies globally, poised to drive Imexpharm's breakthrough growth in the coming years.
After more than four hours of focused, diligent, yet warm and collaborative discussions, the 2022 Annual General Meeting of Shareholders concluded successfully. All agenda items were approved with high consensus from shareholders. The meeting highlighted Imexpharm’s steadfast commitment to sustainable development and reassured shareholders and investors of the company’s promising growth prospects in 2022 and beyond.