According to the 2023 consolidated financial report, the total revenue in 2023 reached VND 1,585.96 billion; Pre-tax profit reached VND 14.17 billion; After-tax profit reached VND 3.94 billion. Business results compared to the plan: Revenue reached 92.21% of the plan; After-tax profit reached 6.35% of the plan.
This result shows that Mai Linh’s business activities have improved compared to previous years, and at the same time have gradually found a suitable direction in the face of market fluctuations and the impact of the economic recession. Profit figures may not reflect much of the internal strength of this experienced transportation group with a wide ecosystem when it stops making losses, stabilizes, and returns to the race.
In 2023, facing the challenges of the global economic downturn and the international situation of “multiple crises, wars”, Mai Linh Group had to find new business strategies to keep the market stable and prepare for long-term strategies.
Shareholders attending the General Meeting of Shareholders voted through the presentations
In addition, in 2023, technology car companies and newly established car companies participating in the market caused the “transport cake” to be “divided” and created a lot of pressure, forcing Mai Linh to implement various business solutions, optimize operating costs, and marketing to ensure service quality and stabilize business operations.
Why hasn’t Mai Linh invested in electric vehicles? A representative of Mai Linh Group said: Mai Linh has noticed that the trend of electric vehicles is gradually becoming popular in many countries around the world. In Vietnam, this trend is also “shifting” and “favoring” electric vehicles due to the many innovations and benefits they bring. However, after thorough research and analysis, electric vehicles are not really suitable and optimal in the Vietnamese market, due to the inconvenience of traffic infrastructure not meeting the convenient operation when operating electric vehicles, the amount of battery waste affecting the environment. Mai Linh is gradually switching from vehicles using pure gasoline to hybrid vehicles (gasoline-electric).
Mai Linh Group still relentlessly promotes its internal strength and actively cooperates with partners for development. Mai Linh has successfully cooperated with Toyota Vietnam and Toyota Financial Corporation in the project of investing in 9,999 vehicles. In the last quarter of 2023, Mai Linh invested in nearly 1,000 new vehicles of the Avanza and Vios lines.
In 2024, Mai Linh aims to invest in 2,224 vehicles in the 9,999 vehicle project, and expects to complete this project within 3 years, including investing in 1,000 new hybrid vehicles for large markets such as Ho Chi Minh City and Hanoi. With the hybrid vehicle line, Mai Linh will realize the goal of protecting the environment and reducing CO2 emissions compared to conventional vehicles. Hybrid vehicles are environmentally friendly vehicles that use a combination of an electric motor and a gasoline engine.
Mai Linh is also boosting investment in the digital transformation of businesses and technology to diversify ways to call cars and make payments, continue to complete the trading floor system, and connect services with other ecosystems to increase utility for customers; continue to develop the core businesses of the ecosystem; Enhance service capacity and customer experience.
In 2023, Mai Linh focused on investing in nearly 1,000 Toyota taxi vehicles with 4 and 7 seats
On the technology racing track, Mai Linh has many advantages when the Mai Linh Taxi APP is gradually being improved with the functions of calculating money, making one-touch payments, fast, neat, and transparent. Mai Linh also owns the national car-hailing switchboard 1055, cooperating with fintech to bring traditional taxi services to banking applications and e-wallets. The MPASS card – Mai Linh’s exclusive product with prepaid features – is also an advantage to diversify payment methods for customers.
Customers experience new technology application services of the Mai Linh Taxi App
The 2024 target of Mai Linh Group is to focus on sustainable maintenance, stability, and development; investing in quality vehicles and increasing the number of new vehicles. At the same time, Mai Linh will improve service quality, retain corporate customers, traditional customers, apply technology, and enhance customer experience. In addition, Mai Linh will also comprehensively restructure and improve risk management; doing business in compliance with the law, competing civilly, healthily, always keeping the business culture of a decent enterprise.
With an ecosystem spanning the country, Mai Linh sets a big goal and expects to reap the sweet fruits through diversified products and services: taxi, insurance, logistics, tourism, labor export, high-speed transportation ships, insurance products, study abroad, labor export, trade…
