Expectations of profit growth and cost optimization for listed companies
Mr. Nguyen The Minh, Director of Research and Development of Individual Client Block Products, Yuanta Securities, believes that the business performance of companies in 2024 can be brighter due to two main factors: Firstly, economic recovery; Secondly, input costs.
On one hand, cost reduction is expected to come from external factors such as lower interest rates. With low interest rates in 2023, it is likely that interest rates this year will continue to decrease, stimulating the demand for credit growth. The pressure on interest costs will decrease, leading to better net profit margins for companies compared to 2023.
On the other hand, cost reduction requires internal actions from companies such as streamlining the workforce, applying digital transformation, especially in operational activities and shareholder interactions. Despite no longer being affected by the Covid pandemic, many companies still choose to organize and vote online before the peak season of the shareholders’ meeting in March and April this year.
“In the past, with traditional shareholder meeting formats, the preparation process usually started early, from 2-4 months. However, in the past 3 years, with a plan to combine direct and online organization with 100% online shareholder operations, we have shortened the preparation time to only 1 month. This helps the company save about 60% of costs and 2/3 of the personnel operating the meeting.” – Mr. Hoang Duc Minh – Investment & Shareholder Relations Specialist of FPT Corporation.
More than just an economic issue, it is the value of the company
In addition to cost savings in time, labor, and personnel, applying technology in general meetings or activities with shareholders also helps improve the experience of investors, demonstrating a commitment to digital transformation and the sustainable value of the company.
Vinamilk is one of the pioneering companies that use technology platforms in management, interaction with shareholders, and annual general meetings. In a podcast about building a sustainable relationship with shareholders, Mr. Dong Quang Trung – Head of Shareholder Relations at Vinamilk shares about the optimal strategy for organizing online general meetings in the past 5 years. Initially, this form was to overcome geographical and communication barriers during the Covid period, however, online operations gradually became the top priority choice for Vinamilk due to its convenience, cost savings, and especially the ability to ensure transparency and security in the voting and election process.
Steps for shareholders on the online general meeting system
According to Ms. Hoang Thi Lan Huong – Product Manager of UVote Solutions under FPT, “When working with customer companies, we realize that the need for exchange and interaction between shareholders and businesses is very high. When mentioning the option of organizing online general meetings, many companies are usually concerned that investors cannot ask questions, leading to dissatisfaction with the company. In fact, when receiving feedback from customers, UVote realizes that 90% of businesses agree that the interaction process with shareholders on the online platform is very easy due to the direct connection capability and 1:1 Dialogue feature.”
Choosing the right solution to ensure legality and optimize operations
Currently, Clause 3, Article 144, the 2020 Law on Enterprises has updated the methods for shareholders to participate and vote, including through online conferences, electronic voting, or other electronic forms. However, there are still many legal corridors that need to be synchronized and tightened to ensure the rights and information security of investors.
As a solution for organizing general meetings and online developed by FPT, the operation process of UVote includes all steps to organize meetings, from entering shareholder data, sending personalized invitations, supporting shareholders to log in and authorize, voting, vote counting, and generating reports all fully automated. At the beginning of 2024, in addition to identification methods for shareholders such as OTP, QR code, and eKYC, UVote is the pioneer in adding identification form through Chip-attached ID card with FPT.IDCheck technology certified by the Ministry of Public Security. Especially, the solution also adds the feature of requiring the signature of shareholders or authorized persons to increase security and tighten legal responsibilities.
UVote has passed strict audits on information security, safety, and ISO/IEC 27001:2013 international security certificates to become the leading choice for large companies such as Vingroup, VinaCapital Fund, VietJet, Vinamilk, HDBank, Manulife… and connect with more than 1,000,000 shareholders.
Accompanying listed companies in optimizing input costs, UVote introduces the promotion “Give away 01 free annual general meeting” and “Up to 50% off for groups organizing 2 general meetings”. For promotion details, visit: https://uvote.vn/ or UVote Fanpage.
