In particular, the employee stock option plan at Bach Hoa Xanh Technology and Investment Joint Stock Company (Bach Hoa Xanh Investment) will be offered to key management personnel of Bach Hoa Xanh Investment and its subsidiaries within the same corporation who have made direct and significant contributions to Bach Hoa Xanh.
The MWG Board of Directors stated that the program aims to create breakthrough incentives, recognize contributions, and strengthen alignment with Bach Hoa Xanh’s long-term development goals.
The MWG Board of Directors authorized the Chairman of the Board and/or the General Director of the Company to represent and exercise shareholder rights, including but not limited to attending, deciding, and voting at the Bach Hoa Xanh Investment’s General Meeting of Shareholders regarding the above content.
According to MWG’s Q1 2025 business update report, the Bach Hoa Xanh food chain recorded over 2,000 stores as of the end of the quarter. In the first three months of this year, 232 stores were opened by this food chain, with 50% of the stores located in the central provinces.
The chain achieved more than VND 11,000 billion in revenue in the last quarter, a 20% increase compared to the same period last year, contributing nearly 31% to MWG’s revenue structure. Overall, all product categories maintained positive growth compared to Q1 2024. The average revenue of stores operating for 6 months or more reached VND 2.1 billion per month, while newly opened stores achieved VND 1.2-1.5 billion per month.
Bach Hoa Xanh Technology and Investment Joint Stock Company is a subsidiary in which MWG holds 94.99% of the capital. More than a year ago, on April 9, 2024, CDH Investments – a Chinese asset management company – completed a minority investment in Bach Hoa Xanh Investment through Green Bee 2 Private Limited. Following the deal, MWG remained the controlling shareholder, alongside CDH Investments and the company’s management team.
The announcement quoted Mr. Nguyen Duc Tai, Chairman of the Board of MWG, as saying, “We welcome CDH Investments as a partner of Bach Hoa Xanh Investment. We have a long history of working effectively with the CDH Investments team and look forward to developing towards becoming the leading grocery company in the country.”
On the same day, MWG announced that Bach Hoa Xanh Investment had completed a private placement to investors at a rate of 5%, lower than the initial plan of up to 20%. MWG explained: “With positive cash flow and continuously improving business results of Bach Hoa Xanh, especially the goal of Bach Hoa Xanh starting to make after-tax profits at the company level from 2024, Bach Hoa Xanh Investment does not need to offer to sell up to 20% of the shares as initially planned.”
The proceeds from the offering were used to finance the general operating and business development needs of Bach Hoa Xanh Investment and its subsidiary, Bach Hoa Xanh Trading Joint Stock Company.
Bach Hoa Xanh Investment within the MWG ecosystem – Source: MWG 2024 Annual Report
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The recent meeting of the MWG Board of Directors also approved important personnel-related matters. Specifically, Mr. Nguyen Duc Tai will continue as Chairman of the MWG Board of Directors for the 2025-2028 term. On the Audit Committee, Mr. Dao The Vinh was removed, and Independent Board Member Mr. Do Tien Si was elected to replace him.
Thus, after this change, the composition of the MWG Audit Committee remains at two members, including Mr. Do Tien Si and the Chairman of the Committee, Mr. Nguyen Tien Trung.
Huy Khai
– 13:18 14/05/2025
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The Magic Formula for Nguyen Duc Tai’s Success: Transforming Bach Hoa Xanh into a Mini-Supermarket Chain with an Emphasis on Branded Produce, Meat, and Seafood.
Mr. Nguyen Duc Tai, Chairman of MWG, has devised a strategy to build Bach Hoa Xanh into a formidable force. With a vision to “bring money home to mothers,” he aims to transform this chain into a powerhouse this year.
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In 2024, the leader of Bach Hoa Xanh is confident that this retail chain will make a profit, even a profit of thousands of billions in the next 2-3 years. Meanwhile, with gradually reduced financial pressure, 2024 is also expected to be the first year of positive profit for WinCommerce.
