AsemconnectVietnam - G.C Food Joint Stock Company (stock code GCF - UPCoM) will hold the Annual General Meeting of Shareholders (AGM) 2023 on April 7, with the target of revenue of VND523 billion and profit before tax of VND26 billion in 2023.

In addition, in the three years of 2023 - 2025, GC Food will focus on developing the company's core business and production areas in the direction of enhancing technology, expanding production and developing raw material areas to increase scale and business efficiency; become a leading company in the production and processing of high quality food; meet the requirements of export and domestic market.
Total investment capital in 3 years is expected to be VND438.8 billion; in which the Company's capital is expected to be VND220.8 billion; expected to double sales and profits compared to 2022. Besides investing in technology and developing a large-scale aloe vera raw material area, GC Food will invest in a new product, which is cosmetic chemistry based on aloe vera materials, invested in a factory to produce aloe vera juice and fruit and established a shrimp farm in Mui Dinh.
Also in 2023, GC Food plans to increase its capital by VND100 billion, raising its charter capital to VND360 billion.
Regarding business activities, by the end of 2022, GC Foof recorded net revenue of VND430 billion, an increase of VND96 billion, equivalent to an increase of 29% compared to 2021; gross profit reached VND120 billion, up VND25 billion, equivalent to an increase of 26% compared to 2021; profit after tax reached VND26.5 billion, down VND8.7 billion compared to 2021 due to increased operating costs.
In 2022, marking a remarkable transformation of G.C Food Joint Stock Company when officially listing 26 million shares on UPCOM exchange with stock code GCF. In the first trading session, GCF stock increased by 40% from VND12,000 to VND16,800 per share.
GC Food was established in 2011 in the form of a limited company with an initial charter capital of VND2 billion. In 2017, the Company changed from a limited liability company to a joint stock company, charter capital at the time of conversion was VND50 billion. In mid-2021, the company's charter capital increased to VND260 billion and total assets reached VND374 billion, up 48% compared to the beginning of the year. At the end of 2022, the Company's total assets are VND631 billion. The company has 117 shareholders, including 116 individual shareholders and one institutional shareholder.
GC Food is currently the number 1 exporter of aloe vera and coconut jelly in Vietnam to more than 20 countries, supplying raw materials to large domestic corporations such as Vinamilk, Nutifood… The company owns Vietfarm aloe vera processing factory (Ninh Thuan) is the leading scale in the country with a capacity of 35,000 tons of fresh leaves/year, equivalent to 15,000 tons of finished products. Mr. Nguyen Van Thu, chairman of the company's Board of Directors is also known by the title "king of aloe vera" in Vietnam.
xGCF's portfolio has now expanded from cultivation (aloe vera and fruits such as cantaloupe, apples, grapes, guava...) to livestock (sheep, cows, swiftlets) and processing (aloe vera, coconut jelly, bird's nest...) thanks to the advantage of a land fund of up to 150 hectares to apply the circular economy model.
N.Nga
Source: VITIC/Tinnhanhchungkhoan