Camimex Group Joint Stock Company (stock code CMX) held the 2024 Annual General Meeting of Shareholders, with notable information related to its plan to jump into a new field of fish processing (cod, pollock, seabass, salmon). ) and investing in fish farming (salmon, seabass).
In particular, Camimex will buy back the fish factory of Hung Vuong company, because the company currently has a shrimp processing factory but is not suitable for fish production. Not to mention, renovating a shrimp factory to invest in machinery is also not appropriate.
With the above move, Camimex's board of directors will invest in a factory specializing in fish production, Thao Anh Fish Joint Stock Company is a related party that will process fish in the future.
"In the Ca Mau area, workers specialize in shrimp production, so when switching to fish production, there are many difficulties, labor productivity for fish production is very low," the leader added.
It is known that Camimex is one of the largest shrimp processing and exporting enterprises in Vietnam. In particular, this enterprise is one of the few large-scale organic shrimp producers in the world and is the only Vietnamese manufacturer currently meeting organic standards throughout the entire supply chain (from shrimp to the table) Naturland, EU Organic and BIO SUISSE.
Camimex Group currently operates 3 modern processing factories with a total design capacity of more than 15,000 tons of finished products/year. Earlier this year, the Company had information about being considered by the Dutch Business Development Bank (FMO) for the possibility of investing 15 million USD (equivalent to 370 billion VND).
In 2024, Camimex targets export turnover of 75 million USD from 10,000 tons of finished products. Corresponding to the planned revenue growth of 22% to 2,500 billion VND, profit after tax increased sharply by 57% to 105 billion VND.
According to the consolidated financial statements for the first quarter of 2024, Camimex recorded a 3-fold increase in net revenue over the same period last year to 790 billion VND. Profit after tax reached 31 billion VND, up 35% over the same period last year. According to the explanation, the above strong growth is due to the quantity and structure of sales, and the market demand has a difference in price between the two periods.
Accordingly, the Company has implemented about 32% of the revenue plan and nearly 30% of the year's profit target.
This year, the Company plans to develop the ecological shrimp farming area to 20,000 hectares, invest in high-tech shrimp farming, aiming to be 15-30% self-sufficient in shrimp input materials.
