Mobile World Investment : MWGNew Release Regarding The Leadership Change Of Bach Hoa Xanh

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NEW RELEASE

REGARDING THE LEADERSHIP CHANGE OF BACH HOA XANH

Ho Chi Minh City, December 31st, 2021

Mobile World Investment Corporation (MWG Group) would like to officially update all stakeholders about the change in leadership of the grocery retailing business (Bach Hoa XANH) in 2022 as followings:

  1. Mr. Tran Kinh Doanh will cease to lead the operation of Bach Hoa XANH for personal reasons. At the parent company level, Mr. Doanh would continue his strategic contribution to MWG’s long-term development as a Board member.
    After 6 years of Bach Hoa XANH’s establishment, Mr. Doanh has fulfilled the mission to develop Bach Hoa XANH:
    1. Being the Top 3 grocery retailers in Vietnam by sales with more than 2.000 stores;
    2. Entering the Top 10 e-commerce websites in Vietnam as the only dedicated grocery retail chain in this list.
    3. Achieving EBITDA break-even at the company-wide level in 2021.
  2. Mr. Nguyen Duc Tai – Chairman of the Board of MWG – will take lead of the Bach Hoa XANH’s operation in 2022.
    In this time, Bach Hoa XANH will focus on:
    1. Fine-turningthe operational cores.
    2. Optimizing procurement capability;
    3. Developing customer care programs and services;
    4. Elevating revenue and maximizing operational efficiency at store level;
    5. Increasing revenue and market shares of Bach Hoa Xanh online; and
    6. Building successors to grow Bach Hoa Xanh sustainably and expanding this retail chain nationwide rapidly from 2023 onwards.
  3. The internal handover and transition have completed. All MWG’s sub-business leadership shall make best effort to realize the 2022 Business Targets of VND140 trillion net revenue and VND6.350 billion net profit after tax (equivalent to an increase of 12% and 34% compared to 2021 targets, respectively).

Regards,

IR Team



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