Hoang Anh Gia Lai Agriculture Joint Stock Company (HAGL AGRICO) convened its 2024 Annual General Meeting on May 4 at the Thiskyhall Sala Convention Center in Ho Chi Minh City.

During the meeting, Mr. Tran Bao Son, the HAGL AGRICO President presented the company's 2023 production and business results, outlined the strategy and investment plan for 2024-2028, and provided details on the specific production and business plan for 2024.

HAGL AGRICO's highlights from 2023: planted 62 hectares of new banana trees and achieved a yield of 28,258 tons, maintained and cared for a total of 2,366 hectares, consisting of 2,146 hectares of mango and 220 hectares of grapefruit, maintained 5,430 hectares of rubber trees for latex extraction, producing 7,270 tons of rubber, built 5 new semi-intensive breeding cattle farms, planted 157 hectares of grass for grazing, and imported 2,420 breeding cows to grow the herd, invested in and handed over Nong Khang Airport to the Lao Government.

Despite generating revenue of VND 606 billion, HAGL AGRICO incurred a net loss in 2023. The company's total investment expenditure was VND 1,179 billion. This resulted in a loss from production and business activities of VND 1,060 billion, and a net loss after tax of VND 1,098 billion.

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HAGL AGRICO is embarking on a large-scale agricultural project in Laos. From 2024 to 2028, the company will develop a project called "Large-scale fruit cultivation combined with cattle farming" across 27,384 hectares of land in Attapeu and Sekong provinces. The Lao government has approved licenses for Hoang Anh Attapeu and Hoang Anh Quang Minh. The plan includes dedicating 10,000 hectares to specialized fruit trees, with 8,000 hectares for bananas and 2,000 hectares for pineapples. The project also integrates cattle raising with fruit cultivation on an additional 14,000 hectares. Within this area, 5,000 hectares will be dedicated to growing mango, grapefruit, and durian trees, while allowing for cattle grazing. The project also includes a herd of 210,000 cattle. The total investment capital for this project is estimated at VND 18,090 billion.

Building on their investment strategy, HAGL AGRICO is set to expand banana production in 2024. They plan to plant 1,533 hectares of new banana trees, aiming for a yield of 29,783 tons. The company also expects to harvest 950 tons of mangoes from their 2,490-hectare mango area, with a dedicated fruit production area of 152 hectares. Additionally, HAGL AGRICO will continue to manage 220 hectares of grapefruit, with an anticipated harvest of 500 tons from the 100-hectare fruit production area. With a total rubber area of 14,462 hectares, of which 6,328 hectares are dedicated to latex tapping, the company expects to harvest 8,770 tons of rubber latex.

In 2024, HAGL AGRICO is establishing seven new breeding cattle farms and a factory cluster specifically for producing barn bedding and organic fertilizer. Additionally, it will build a general warehouse cluster to streamline the supply chain for food ingredients and livestock supplies. The company will import over 5,800 cows, bringing their total herd size to 11,300 by year-end. They also plant an additional 595 hectares of grass, producing more than 34,000 tons of organic fertilizer from cattle manure.

This year, HAGL AGRICO also plans to make investments in transportation, irrigation, electricity infrastructure, land development, and mechanized machinery and equipment. The total expected investment expenditure for these projects is VND 1,574 billion. The company anticipates generating VND 694 billion in revenue in 2024. It also forecasts a loss before tax of VND 120 billion.

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Speaking at the meeting, Mr. Tran Ba Duong, THACO Chairman and HAGL AGRICO Chairman said: We acknowledge the complexities involved in large-scale, mechanized agriculture. Our guiding principles are honesty, transparency, and creating real value with a focus on long-term sustainability. In supporting HAGL AGRICO, we aim to foster a complementary partnership that allows them to operate effectively and remain a publicly traded company, delivering value to all stakeholders.