Traphaco Joint Stock Company Annual General Meeting of Shareholders 2026

Accelerating Execution, Driving Productivity Breakthroughs for a New Phase of Growth

On April 17, 2026, in Hanoi, Traphaco Joint Stock Company held its 2026 Annual General Meeting of Shareholders, approving key matters relating to its 2025 business performance, 2026 business plan, development orientation for the 2026–2030 term, as well as a number of important issues concerning corporate governance, profit distribution, and the organizational structure for the new term.

The Presidium chaired and conducted the General Meeting

On the morning of April 17, Traphaco Joint Stock Company (Ticker: TRA) convened its 2026 Annual General Meeting of Shareholders. The meeting provided an opportunity to review a dynamic and challenging year for the pharmaceutical market in 2025, while also discussing and approving major priorities for 2026 and the 2026–2030 development period.

For the full year 2025, Traphaco recorded positive growth, with consolidated net revenue reaching VND 2,657 billion, achieving 105% of the annual target and increasing by 13% compared with 2024. Consolidated profit after tax reached VND 278 billion, equivalent to 104% of plan and up 8% year-on-year. In addition to exceeding its revenue and profit targets, the Company also made notable progress in terms of development depth, launching 18 new products to the market. Revenue generated from products introduced during the 2021–2025 period reached VND 320.3 billion, while the total number of registrations and published ownership declarations rose to 313.

A notable feature of 2025 was not only its growth figures, but also a series of foundational changes. Traphaco accelerated the restructuring of its logistics and distribution system, establishing Traphaco Pharmaceuticals One Member Limited Liability Company to specialize in logistics operations, while streamlining its OTC business system to make it more centralized and agile. At the same time, the Company made clear progress in digital transformation, applying technology to governance, operations, sales, and quality control. Research and development activities continued to be strengthened, while the multi-channel sales model expanded significantly, particularly through growth in pharmacy chains, e-commerce, and strategic product groups such as premium herbal medicines and high-quality pharmaceuticals, most notably technology transfer products.

At this year’s General Meeting, shareholders also approved the 2025 profit distribution plan, including a cash dividend of 40% of charter capital. Of this, the Company has already paid an interim dividend of 20% and plans to distribute the remaining 20% in 2026. This serves as a clear highlight, demonstrating Traphaco’s continued ability to strike a balance between investing for long-term growth and safeguarding shareholder interests.

Entering 2026, Traphaco has set a target of VND 2,923 billion in net revenue and VND 306 billion in consolidated profit after tax. The Company also aims to launch 19 new products, generate VND 27 billion in revenue from products introduced during the year, and increase the total number of registrations and published ownership declarations to 327. The action message for 2026 has been defined as “Speed of Execution – Productivity Breakthrough”, reflecting the Company’s determination to accelerate implementation, improve operational efficiency, and more effectively translate internal transformation into concrete business results.

To realize these goals, Traphaco remains committed to its product development strategy of “Premium Herbal Medicines – High-Quality Pharmaceuticals”, while continuing to optimize its multi-channel distribution system and accelerate growth in hospital channels, pharmacy chains, and e-commerce. In 2026, the Company will also continue to standardize logistics operations, promote digital transformation, and apply data and AI to management and business operations. At the same time, it will implement a brand rejuvenation strategy, enhance workforce capabilities, and strengthen risk governance and quality control across the entire system.

One of the most closely watched topics at the Meeting was the investment plan for a solid-dosage pharmaceutical manufacturing plant meeting EU-GMP standards at Traphaco Hung Yen. The project is designed with an expected capacity of 900 million tablets per year, with a total investment of VND 698 billion, and is scheduled for implementation during the 2026–2029 period. This is considered an important preparatory step for Traphaco to enhance its capacity for producing high-quality medicines and to expand its growth opportunities in segments requiring more stringent standards in the coming years. In parallel, as part of its development orientation for the new phase, the Company will also consider an appropriate increase in charter capital in line with its business scale, in order to support strategic investment projects and optimize capital utilization.

Looking further ahead, the General Meeting also approved the business objectives and plan for the 2026–2030 term, with the strategic orientation of transforming Traphaco from a pharmaceutical enterprise into one of Vietnam’s leading groups providing comprehensive healthcare products and services. During this period, the Company targets annual growth in revenue and profit before tax of 10.1%, while continuing to invest strongly in R&D, technology transfer, data governance, digital transformation, brand development, and sustainability based on ESG principles.

In addition to matters relating to business operations and strategic direction, the General Meeting also reviewed and approved the report of the Supervisory Board, the plan for entering into contracts with subsidiaries within the value chain, and the governance structure for the new term, including a seven-member Board of Directors and a three-member Supervisory Board for the 2026–2030 term. These matters falling within the authority of the General Meeting further reflect Traphaco’s commitment to sound, transparent, and well-aligned governance in support of its development requirements for the new phase.

The elected members of the Board of Directors for the 2026–2031 term are as follows:

·         Mr. Lee Choong Hwan

·         Mr. Nguyen Phu Khanh

·         Ms. Dao Thuy Ha

·         Mr. Tran Tuc Ma

·         Mr. Kim Dong Hyu

·         Mr. Dinh Quang Hoa

·         Mr. Cha Junwoo

The elected members of the Supervisory Board for the 2026–2031 term are as follows:

·         Mr. Lee Jungwoo

·         Ms. Dang Son Nguyet Thao

·         Ms. Dao Thi Minh Hoa

The resolutions adopted at the General Meeting demonstrate that Traphaco is not merely pursuing growth targets for a single year, but is proactively building the foundation for a new development cycle—leaner in organization, more modern in operations, stronger in research, manufacturing, and distribution capabilities, and more clearly defined in brand positioning. Building on the foundation reinforced in 2025, 2026 is expected to be a year in which Traphaco accelerates execution, expands its room for growth, and steadily realizes its long-term development vision.

The 2026 Annual General Meeting of Shareholders concluded in a solemn, open, and constructive atmosphere. The discussions at the meeting reflected the attention, support, and expectations of shareholders for the Company’s next stage of development. The high level of consensus reached at the Meeting not only ensured a successful session in terms of substance, but also conveyed a very clear message: Traphaco is entering a new phase with a spirit of acceleration, confidence in the internal strengths it has cultivated, and a strong aspiration to further affirm its position as a Vietnamese pharmaceutical brand built on quality, innovation, and sustainable responsibility.

Some pictures: 

Mr. Nguyen Phu Khanh – Vice Chairman of the Board of Directors delivered the opening speech

Delegates attending the General Meeting

Mr. Tran Tuc Ma – Member of the Board of Directors, Former Chief Executive Officer presented the 2025 business performance and the 2021–2025 term results

Ms. Dao Thuy Ha – Member of the Board of Directors, Chief Executive Officer presented the Board of Directors’ activities in 2025 and the 2021–2025 term, the development orientation for the 2026–2030 term, and the 2026 implementation plan

Mr. Pham Hoang Anh – Deputy Chief Executive Officer (Finance & Planning) presented the audited consolidated financial statements for 2025

Ms. Nguyen Thi Luong Thanh – Head of the Supervisory Board presented the Supervisory Board’s report for 2025 and the 2021–2025 term, and proposed the selection of an auditing firm for the 2026 financial statements

Mr. Kim Dong Hyu – Member of the Board of Directors, Deputy Chief Executive Officer in charge of ETC & Specialized Products presented the 2025 profit distribution and the 2026 plan

ÔMr. Dinh Quang Hoa – Member of the Board of Directors submitted to the General Meeting the proposal on the number of members of the Board of Directors and the Supervisory Board for the 2026–2030 term

Shareholders participated in the election

Discussion questions raised by attending shareholders

Discussion questions raised by attending shareholders

Mr. Nguyen Huy Van – Party Committee Secretary, Deputy Chief Executive Officer in charge of Research & Development presented flowers to congratulate the members of the Board of Directors and the Supervisory Board for the 2026–2030 term

Mr. Lee Choong Hwan – Representative of the Board of Directors for the 2026–2030 term presented flowers to congratulate the Supervisory Board members for the 2021–2025 term on successfully fulfilling their duties