2024 - Development strategies based on core values

On April 24, Everpia Joint Stock Company (stock code: EVE - HoSE) held the 2024 Annual Shareholders ' Meeting. The General Meeting approved all important statements submitted for approval, such as: Business Plan for 2024, Profit Distribution and Cash Dividend 2023, ...

Opening the Meeting, Mr. Lee Jae Eun - Everpia 's General Director shared: "In business, whether the economy is developing or facing recession, risks and opportunities always coexist. The success or failure of a business lies in how quickly we approach and respond to changes in customer behavior. We will constantly brainstorm and improve on strategies to accompany and develop relationships with customers, suppliers, the local community and employees. The Board of Management, as well as our employees will make every effort for Everpia to become a sustainable business even in a volatile business environment."

Mr. Lee Jae Eun - General Director, made a statement at the meeting.

As a company manufacturing and distributing consumer goods, Everpia is not immune to the general economic downturn. In 2023, Everpia achieved a net revenue of 786.8 billion VND, a 23% decrease compared to the previous year. The net profit after tax was nearly 19 billion VND, and the net profit margin reached 2.3%, which did not meet the targets set at the annual shareholders ' meeting in 2023.

In light of this situation, Mr. Lee emphasized his awareness of the responsibilities and missions towards the company and promised that he and the company 's executives would strive to bring efficiency and growth to the company this year.

In 2024, Everpia aims to achieve a revenue of 1,000 billion VND and an after-tax profit of 60 billion VND. In terms of business direction, the company will comprehensively restructure its product portfolio to enhance internal strength and be ready for sustainable growth in the future.

Mr. Truong Tuan Nghia - Chief of the Board of Supervisor, presented his report

One of the issues that shareholders raised many questions to Everpia 's Board of Management was related to the Online sales activities. Mr. Lee stated that the revenue of Online channel currently accounts for less than 5% of the revenue of the bedding segment. However, the company has implemented plans to develop and expand this channel, aiming for it to contribute approximately 30% of the bedding’s revenue. Mr. Lee emphasized that Everpia 's strength lies in its nationwide network of agents, which gives them an edge in terms of delivery. For example, when receiving an online order from Cao Bang, the company will work with an agent in Cao Bang to timely deliver the product directly to the customer. With this strength, the company will build and improve the Online sales channel.

Mr. Le Kha Tuyen - Independent BOD member read his report at the ASM.

Responding to the shareholder 's question about the methods to prevent counterfeit goods, Mr. Lee admitted that this situation is very complicated and challenging for the company to solve this problem alone. Korean agencies have worked with Vietnamese authorities several times to discuss and exchange solution ideas for the issue of counterfeit goods. Mr. Lee also expressed concern that it was unclear which direction the results would go. He emphasized that Everpia needs the support of the press and the public to change the culture of a healthy competition in Vietnamese market. He also pointed out the measures that Everpia is currently implementing to increase consumer awareness and avoid the situation of consumers buying counterfeit goods, such as constantly providing information on the company 's website regarding the purchases, a list of the company 's official distribution agent, attaching barcodes containing product information, cooperating with telecommunications units...
Furthermore, Mr. Lee mentioned that with the Giang Dien factory started is production operations in July 2023, production capacity is expected to increase by about 30%. This year, the company will focus on developing the agent distribution network, the differentiated product portfolio and the brand equity - the core assets and foundation for the company 's development. Through these efforts, the company lays the foundation to become a sustainable business based on the experience and know-how accumulated over many years.