Mr. Danny Le – Chairman of Masan High-Tech Materials shared the company’s strategic vision for 2022-2025 “In the very near future, Masan High-Tech Materials will be more than a supplier of strategic high-tech materials, partnering with disruptive consumer technology platforms to create direct-to-consumer products where tungsten is a key element. Most importantly, we envision a circular platform where we can recycle these products to drive sustainability and productivity”.
In 2022, the Company will continue to focus on recycling raw materials, implementing carbon neutrality initiatives and promoting the benefits of the circular economy. In the context of the global economic recovery after Covid-19, positive signals in the tungsten market and the shift from gasoline to electric vehicles, Tungsten prices will be likely to go up in 2022. The company expects to achieve 2022 revenue of about VND 14,500-15,000 billion, pre-allocated net profit to shareholders is about VND 300 billion to 500 billion.
At the meeting the shareholders also approved the issuance of new shares under the employee stock ownership program (ESOP) at the price of VND20,000 /share, which is expected to take place in the second quarter of 2022. This incentive policy aims to recognize contributions of outstanding employees to the company. Proceeds from the issuance will be used to improve capital conditions, fund business activities, and replenish the company’s working capital.
Towards building a long-term sustainable business for Masan people and the community, Masan High-Tech Materials remains committed to ‘Growth through Sustainability’, striving to affirm its position and brand in the domestic market and area. In the future, Masan High-Tech Materials will not only be a supplier of strategic high-tech materials. We focus on research and development and cooperate with the world’s leading innovative businesses to create strategic and high-tech advanced materials. We also strive for steady improvement of our processes to meet the ever-changing needs of high-tech industry customers. Our ambitions remain on going downstream and building a global consumer business. “Instead of just supplying key materials to make smartphones, cars, planes, and submarines, Masan High-Tech Materials may one day create practical consumer products for these critical industries”, Bradshaw said.
ABOUT MASAN HIGH-TECH MATERIALS
Masan High-Tech Materials is the global leader in providing advanced tungsten materials used in key industries such as electronics, chemical, automotive, aviation and aerospace, energy and pharmaceuticals with production facilities in Vietnam, Germany, Canada and China, servicing the world. As the largest manufacturer of mid-stream tungsten products outside of China, the company has two research and development centers in Germany and Vietnam, and it is currently operating the Nui Phao polymetallic mine and a state-of-the art processing plant in Thai Nguyen province. Masan High-Tech Materials is also a globally significant producer of fluorspar and bismuth.
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