Vinh Hoan, will invest an additional VND 50 billion (USD 2.14 million, EUR 2.11 million) in its subsidiary Vinh Hoan Fish Hatchery Co.
The latest capital contribution raised Vinh Hoan Fish Hatchery’s total chartered capital to VND 148 billion (USD 6.33 million, EUR 6.26 million), with Vinh Hoan holding a 98 percent stake in it.
Vinh Hoan Fish Hatchery was established in 2019 as the linchpin of a plan to establish its own pangasius fingerling production in An Giang province. Vinh Hoan previously injected VND 48 billion (USD 2.05 million, EUR 2.03 million) in 2019 and VND 50 billion (USD 2.14 million, EUR 2.11 million) in 2020 into the subsidiary to expand its reach. When complete, the first phase of the project is expected to produce 30 million pangasius fingerlings annually.
Vietnam’s 2022 spending plan, approved at its general stakeholders meeting in April 2022, also includes VND 100 billion (USD 4.27 million, EUR 4.23 million) for aquafeed production; VND 350 billion (USD 14.94 million, EUR 14.79 million) for building a new processing line and conducting renovation work at its Thanh Binh plant in Dong Thap province; VND 150 billion (USD 6.41 million, EUR 6.34 million) for construction and renovation work at its collagen plant; VND 280 billion (USD 12 million, EUR 11.84 million) for farming expansion; and VND 150 billion (USD 6.4 million, EUR 6.33 million) for renovation work at other plants.
Vinh Hoan has set a goal of earning consolidated sales revenue of VND 13 trillion (USD 555 million, EUR 549.5 million) in 2022, up 43.6 percent from its 2021 total of VND 9.05 trillion (USD 386.8 million, EUR 383 million). Its 2022 goal for consolidated net profit is VND 1.6 trillion (USD 68.4 million, EUR 67.7 million), up 45.6 percent year-on-year.
Photo courtesy of Vinh Hoan
