KDC Ar 2022 en (Final)

CONTENTS
STRONG BELIEF IN INNOVATION

ACCELERATION TO LEAD
ABSOLUTE CONFIDENCE
REACHING NEW HEIGHTS
STRONG POSITION
SUSTAINABLE DEVELOPMENT
SOLIDIFIED INTERNAL RESOURCES

ACCELERATED SUCCESS
CONSOLIDATED FINANCIAL
CORPORATE OVERVIEW STRATEGY REPORT CORPORATE GOVERNANCE
REPORT
Message from the Chairman of the Board of Directors 06 Message from the CEO 48 Corporate governance 82 General information 115
General information 10 Business results 52 Risk management 84 Report of Management 118
Vision - Mission - Core Values 12 Corporate strategy 58 Management of environmental protection 86 Independent audit report 120
History of establishment and development 16 Reports related to environmental and social Report of the Board of Directors & Supervisory Board 98 Consolidated balance sheet 122
70
responsibility
Organizational structure 22 Consolidated income statement 125
Assess growth potential in each category 72
STRONG ENGAGEMENT
Shareholder's structure 28 SPREADING VALUE Consolidated cash flow statement 126
Business model 74
Business network and subsidiaries 30 Notes to the consolidated financial statements 128
Digitalization and automation process 76
Board of Directors 36
Supervisory Board 40
Board of Management 42
CORPORATE SOCIAL
RESPONSIBILITIES
Combined responsibilities to the community 108
Public recognition 110

STRONG POSITION
SUSTAINABLE DEVELOPMENT
CORPORATE OVERVIEW
FORTIFIED POSITION ANNUAL REPORT 2022 KIDO GROUP 1 CORPORATE OVERVIEW 6 7
YEARS Reaching New Heights www.kdc.vn
MESSAGE
from the Chairman of the Board of Directors
The Centralized Management model has both

strategic and operational significance, helping
to ensure consistency in development strategy,
ENTERING IN 2023, KIDO MARKS THE 30-YEAR JOURNEY OF ESTABLISHMENT
synchronization in operating policies and in business
AND AFFIRMS ITS LEADING POSITION IN THE ESSENTIAL FOOD MARKET BY
activities of this Group with the announced first
LEADING THE ICE CREAM BUSINESS UNIT IN VIETNAM (44.5% MARKET SHARE),
steps from the first half of 2022. Accordingly, the
1ST POSITION IN THE MARGARINE BUSINESS UNIT IN VIETNAM (74.9% MARKET
management operation will be located at KIDO to
SHARE), 2ND POSITION IN THE WHOLE COUNTRY'S EDIBLE OIL BUSINESS UNIT.
perform functions such as: Supporting subsidiaries
KIDO GROUP HAS NOW FULLY CONVERGED FACTORS TO MOVE TO A NEW
in business strategy orientation and development
DEVELOPMENT PHASE - "CENTRALIZED MANAGEMENT".
model; Guiding of investment activities, and business
strategies for companies in the group; Supporting
subsidiaries, BUs (Business Units) in legal, financial,
IT infrastructure and other issues related to daily
operations… This is one of the important strategies,
Dear Shareholders! in line with the Group's current operating structure.
For KIDO, the Centralized Management strategy
will be reflected on all fronts of group operation,
I
n 2022, the world economy continued to fall into a "multi-crisis" in the face of great challenges, in which 05 main aspects are focused, including:
rapid fluctuations, unpredictable and high instability from climate change and conflict. There is Operational Strategy - Brand Development &
still no end to the military conflict between Russia and Ukraine... Since then, the global supply Management - Development of Distribution Channel
chain has been broken, it is difficult to circulate goods, the price of production materials has System - Human Resource Management - Finance &
increased - decreased dramatically, and inflation has increased to the highest level in many Investment Activities. Specifically:
decades…, affecting the Group's production and business activities when most of our production
materials are imported from abroad, and the inflation caused that Consumers are gradually OPERATIONAL STRATEGY
tightening their spending. The year of 2023 continues to be considered an extremely difficult
year and how can KIDO overcome this difficult period. The Board of Directors and the Board of Management
will keep the task of directing and controlling all
Looking back on the past 5 years, with the orientation "Design for Success", we have been on activities of the company. The Executive Management
the right track, affirming the internal strength and leading capacity of the Board of Directors, Committee (EMC) will lead and supervise the
capacity of leaders of the Group continuously achieving new successes. In the first stage of the implementation of the Group's strategic goals, drive
implementation process, KIDO designed and upgraded the management system by applying the overall business results. This matches the role
information technology in operation, contributing to the company's value chain from a very and mission of Team 1, Team 2, Team 3 at the present
early age with the following platforms: management such as SAP, DMS, KIDO Shop..., helping time. Leading to decisions, strategies are agreed to be
to improve business efficiency, managing distributor system and market team... so that each deployed from top to bottom.
member quickly adapts to the digital transformation model, volume and reduced time getting
the job done. At the same time, the strength of the channel system is maximized and KIDO has BRAND DEVELOPMENT AND
successfully designed and expanded the sales channel system nationwide. In the period 2017 MANAGEMENT
- present, the Group has increased the number of points of sale of frozen products from 70,000
points of sale to 120,000 points of sale nationwide. In addition, the system of 450,000 points KIDO Group currently owns many famous brands,
of sale in the dry products, with proper investment efforts to maintain and, has grown steadily which are among the top market leaders in Vietnam
with a wide coverage, making KIDO become one of the companies with the best sales and the such as Merino, Celano, Tuong An (margarine and
most effective system in the country. Along with that is the outstanding success in designing and edible oil products), KIDO's Bakery... All current brands
operating the products under the Group. existing or new brands are centrally managed by the
Group. At the same time, strategies for promotion,
Entering in 2023, KIDO marks the 30-year journey of establishment and affirms its leading brand development, Marketing and Communication
position in the essential food market by leading the ice cream industry in Vietnam (44.5% market must all be approved by the Group and implemented
share), 1st position in the margarine segment in Vietnam (74.9% market share), 2nd position in the by the Board of Directors.
whole country's edible oil business unit. KIDO Group has now fully converged factors to move to
a new development phase - "Centralized Management".
MESSAGE
from the Chairman of the Board of Directors (continued)
THE DEVELOPMENT OF DISTRIBUTION CHANNEL SYSTEM

PLANNED
The group currently holds a wide distribution channel channel system of dry and frozen products. As part PLANNED NET REVENUE
PRE-TAX PROFIT
15,000 billion
system in Vietnam with 450,000 points of sale of
900 billion
of the development strategy throughout Vietnam,
essential food products, 120,000 points of sale of the Group will continue to expand and develop the
frozen products. Based on the compatibility of each VND VND
distribution channel system for the bakery business
19.7% compared to 2022 76.3% compared to 2022

product line with the distribution channel, the Group unit in addition to use the current channel strengths.
will consider and allocate products/categories On the other hand, the spice business unit will
into each distribution channel or orient to develop develop along with Tuong An's existing distribution
appropriate new distribution channels. Typically, the channel system. This helps to increase the operational
bakery business unit (Fresh Cakes and Mooncakes) is efficiency of the new BU, and at the same time, saves
developing synergistically on the Group's distribution time, cost and personnel to operate the channel.
Dear Shareholders,
HUMAN RESOURCE MANAGEMENT In the coming time, the economy is expected to continue to have many fluctuations when the war situation
between Russia - Ukraine has not come to an end, the supply chain has not recovered, and inflation is still one
All nearly 4,000 employees from member companies and factories are managed by the Human Resources
of the impacts directly influencing consumer behavior. Therefore, KIDO sets a growth target in 2023, specifically,
Department of the Group. Based on the different resource development needs, and the strengths and weaknesses
the planned net revenue is VND 15,000 billion, an increase of 19.7% compared to 2022 and the target profit before
of each employee, the Human Resources Department of the Group will conduct planning, arrangement, exploitation,
tax is VND 900 billion, an increase of 76.3% compared to 2022.
and placement of personnel in appropriate positions/sectors in order to promote the working capacity of employees
to the maximum, achieve high efficiency in work. Each employee, when assigned and appointed to the right position, With a foundation of sustainable development, combined with the strengthening of centralized management,
will create a lot of value for the development of the company and its industry. In the case of limited resources, how to we will make efforts, resonating internal and external strengths to fulfill the set targets, as well as ensure the best
optimize. On the other hand, the Group also seeks, trains and fosters high-quality labor resources, allocates them to long-term value for shareholders in all current and future business activities of the KIDO Group.
key positions of the Group, creates added value under the motto of win-win between the Group and workers.
Together with a team of enthusiastic and dedicated staff, I hope that KIDO Group will continue to receive the
support and companionship of shareholders, investors, and customers to join KIDO to conquer the new target in
the near future.
FINANCE & INVESTMENT ACTIVITIES
Cash flows, investment strategies, capital mobilization, the way we have successfully done for KIDO Foods (Ice
etc. will be directly managed and controlled by the cream business unit); Tuong An, KIDO Nha Be, Vocarimex Best wishes to you
Group, ensuring effective cash flow, thereby generating (edible oil business unit) simultaneously have M&A
profits for the Group in addition to main business strategies for other sectors in the essential food sector HEALTH - HAPPINESS - SUCCESS!
production activities. Accordingly, based on the source in each period. CHAIRMAN OF THE BOARD OF DIRECTORS - TRAN KIM THANH
of money and development needs at each time, the
Group will continue to study the development of the At the same time, we continue to focus on monitoring
market, look for opportunities for cooperation, M&A, and supervising to allocate appropriate investment
select and be willing to acquire potential companies and capital for potential industries with good room for
product categories to expand the Group's essential food development, especially when combined with the
portfolio, continuing to build a strong new category like existing system of the company. The Group will bring
outstanding financial performance.
GENERAL INFORMATION BUSINESS LINES ACCORDING TO THE VIETNAM ECONOMIC SECTOR SYSTEM
Industry code Name of industry, Business Line Industry code Name of industry, Business Line
Processing and preserving of fruits and vegetables Installation of electrical systems (except for
COMPANY OVERVIEW 1030 - Details: Processing agricultural products and 4321 mechanical processing, waste recycling,
food (Doesn't work at headquarters) electroplating at the office)
Processing milk and dairy products 4329 Installation of other construction systems
1050
TRADING NAME (Doesn't work at headquarters) 4330 Completion of construction works
Manufacturing of starch and starch products 4390 Other specialized construction activities
Vietnamese name: CONG TY CO PHAN TAP DOAN KIDO 1062
(Doesn't work at headquarters)
Wholesale of food (except rice, cane sugar, beet
4632 (Main)
English name: KIDO GROUP CORPORATION 1071
Manufacturing of cakes from flour sugar and not operating at headquarters)
4633 Wholesale of beverages (except alcoholic beverages)
Abbreviation name: KIDO GROUP Manufacturing of pasta, noodles and similar
1074 4641 Wholesale of fabrics, ready-made goods, shoes
products (Doesn't operate at headquarters)
Business registration Certificate: No. 4103001184 issued by the Department of Planning Wholesale of other household goods (except
Producing dishes, ready-to-eat food 4649
and Investment of Ho Chi Minh City on September 6, 2002 and according to the revised BRC. 1075 books, newspapers, magazines, pharmaceuticals)
Wholesale of other machinery, equipment and
Business code: 0302705302. Manufacturing of other foods n.e.c. 4659
1079 spare parts
(Doesn't operate at headquarters)
Listing information: The Company's shares are listed on the Ho Chi Minh City Stock Financial services support activities n.e.c
Producing non-alcoholic beverages, mineral 6619 - Details: Investment consulting (except
Exchange under the Listing License No. 39/UBCK-GPNY issued by the State Securities 1104
water (Doesn't work at headquarters) financial, accounting and legal advice)
Commission on November 18, 2005 with the stock trading code is “KDC”.
Wholesale of other installation materials and Installation of water supply, drainage, heating and
4663
Charter capital: equipment in construction air-conditioning systems (Except for mechanical
processing, waste recycling, electroplating at
Retail sale of games and toys in specialized
2,797,413,560,000 VND
4764 4322 the office; excluding installation of refrigeration
stores (with permitted content)
equipment (freezing equipment, cold storage, ice
4311 Demolition machine, air conditioner, water chiller) use R22
refrigerant in the field of seafood processing)
4312 Site preparation
(In words: Two thousand seven hundred and ninety-seven billion four hundred thirteen million five Manufacturing of cocoa, chocolate and
1073
hundred and sixty thousand dong.) confectionery (doesn't work at headquarters)
Head office address:

138-142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh City. GENERAL INTRODUCTION
E
Phone number: +84 8.38270468
stablished in 1993, KIDO was formerly known as Kinh Do Construction and Food Processing Co., Ltd. The company
Fax: +84 8.38270469 mainly operates in the field of production, processing and distribution of consumer food products such as edible
oil, ice cream, confectionery, snack food and beverage. KIDO has officially operated under the model of a joint stock
Website: www.kdc.vn company since 2002 with a charter capital of VND 150 billion.
The stages of formation and 1993 - 2003: Building foundation and Building differentiating factors.
development have brought 2004 - 2014: Strengthening competitive edge and Solidifying leading positions.
MAIN LINE OF BUSINESS
many good results. 2015 - 2022: Brand expansion and growth from internal resources.
Currently, KIDO owns a factory producing cakes from flour Continuing the mission of becoming the No.1 Food Group
Wholesales food; in District 12, Ho Chi Minh City with scale of 19,044 tons of in Vietnam and expanding into Southeast Asia, KIDO has
products/year and 02 Frozen Food factories in Bac Ninh and developed a nationwide retail distribution network with
Cu Chi; 04 Cooking Oil factories in Nghe An, Ba Ria - Vung Tau, a wide range of unique and convenient essential foods at
Nha Be, ... Total capacity supplied to the market includes: 21 450,000 points of sale of dry products, 120,000 points of
Producing and trading in food and beverage products such as ice million liters of yogurt/year; 24 million liters of ice cream/year; sale of frozen products.
cream, milk and dairy products, non-alcoholic beverages, mineral 15,000 tons of dumplings and steamed buns/year; more than Through the flexible conversion of sales channels nationwide
400,000 tons of finished oil per year at 02 Tuong An Oil Plants such as GT, MT, KA, CVS, online channels, e-commerce
water;
and KIDO Nha Be Oil Factory (formerly Golden Hope Nha Be). platforms (Lazada, Shopee, Tiki...), KIDO will continue to
Annual capacity at Vocarimex Oil Factory reaches 130,000 expand the market towards luxury and diversification in
tons of refined oil, 120,000 tons of finished oil and 4,000 tons order to serve daily consumption needs for consumers of
Producing, trading and exporting products made from oil, vegetable of sesame oil. In addition to the advantages brought by the all ages across the country and to the world.
oil, seeds oil, coconut jelly; manufacturing and trading all kinds subsidiary, KIDO also owns a warehouse system of nearly
of packaging; export of raw materials to serve the production and 8,000 m2; 22,300 m3 liquid tank and 04 berths at Nha Be Port
processing of vegetable oil industry. with capacity: 20,000 DWT of cargo, 5,000 tons of oil.
VISION - MISSION - CORE VALUES

MISSION
For SHAREHOLDERS
VISION | FLAVOR YOUR LIFE
To shareholders, KIDO's
mission is to allocate capital
to maximize shareholder value
BECOME THE NO.1 FOOD CORPORATION IN VIETNAM AND EXPAND TO For CONSUMERS in the long term and manage
SOUTHEAST ASIA BY “FLAVORING YOUR LIFE” risks to create stability and
KIDO's mission to consumers is confidence in investments,
AND “FILLING IN VIETNAMESE KITCHEN” WITH DELICIOUS PRODUCTS,
to provide convenient, affordable bringing expected benefits to
SAFE AND UNIQUE ESSENTIAL FOOD.
products including common and shareholders.
essential foods, supplements
and beverages. We provide safe,
delicious, nutritious, convenient
and unique foods to all our
customers to stay at the forefront
of the food market.
For EMPLOYEES
We always incubate and
create all conditions to satisfy
the needs and expectations
at work in order to promote
the creativity, dedication and
enthusiasm of our employees.
Therefore, KIDO always has
a dynamic, creative, loyal,
adaptable and reliable staff.
For PARTNERS
With partners, KIDO's mission is
to create sustainable values for
all members of the supply chain
through innovative products. We
aim for a harmonious profit for all
parties, improving processes for For COMMUNITY
quality and productivity to create
sustainable development. To contribute to the
development and support of the
community, we actively create,
participate and contribute to the
programs toward to community
and society, environmental
protection activities towards
sustainable development.
VISION - MISSION - CORE VALUES

(CONTINUED)
CORE VALUES
VISION QUALITY
PIONEER - LEADING CREDIBILITY
CREATIVITY - INNOVATION DYNAMISM

HISTORY OF ESTABLISHMENT AND DEVELOPMENT
KIDO - A 30-YEAR PATHWAY WITH MULTIPLE HISTORICAL IMPORTANT

MILESTONES CREATING INCREDIBLE IDENTITIES 1999-2001
Opened the first bakery system. Increased charter

capital to 51 billion dong, expanded factory area to
“CORRESPONDING TO EACH STAGE OF DEVELOPMENT, KIDO HAS more than 40,000 m2. The company's products were
MARKED ITS OWN FOOTPRINTS, AFFIRMING ITS TRUE VALUE WITH exported to the US, France, Canada, Germany, Japan,
ITS CREATIVE, DYNAMISM, AND PIONEERING VISION ON THE WAY Thailand, Singapore,...
TO CONQUER VIETNAM MARKET AND GO TO THE WORLD.”
1993-1998: Building the foundation 1999-2003: Building differentiating factors
1993 1994-1998 2002 2003
Formerly Kinh Do Construction and Food Invested in building a new factory with an area Kinh Do Joint Stock Company Acquired Wall's ice cream factory from Unilever
Processing Co., Ltd., owns a snack cake of 6 hectares; Invested in cookie production was established with charter Group and established KIDO Company Limited,
manufacturing and trading factory (100m2) in line, bread production line, industrial sponge capital of 150 billion VND. developed 2 brands of Merino and Celano.
District 6, Ho Chi Minh City, with 70 workers and cake and put chocolate candy production line Imported chocolate production line (1 million
with investment capital of 1.4 billion VND. into operation. USD) and increased charter capital to 200
billion VND.
Launched snack products, cookies, fresh cakes,
moon cakes, chocolate.

(CONTINUED)
2004 2010-2012 2015
Established Kinh Do Binh Duong Company. Kinh Do was voted as National Brand for Signed the principle contract to transfer the confectionery business to
the 2nd time. Mondelez and officially entered the essential food industry. October 2015,
Northern Kinh Do Company officially listed officially changed its name to KIDO Group Joint Stock Company.
on the stock market (Stock code: NKD). Merger of Northern Kinh Do Company
into Kinh Do Joint Stock Company.
Continued to merge Vinabico into KDC.
2004-2008: Strengthening 2010-2014: Solidifying leading positions 2015-2018: Brand expansion

competitive edge
2005 2013-2014 2016-2018
Kinh Do Joint Stock Company was Received the Second Class Labor Medal. Combined two large enterprises in the edible oil business unit, Tuong An
officially listed on the stock exchange Voted as National Brand for the 4th time and Vocarimex, into the Group. KIDO acquired 51% shares of Golden Hope
(Listed code: KDC). subsequently. Nha Be and changed its name to KIDO Nha Be.
Launched of Solite sponge cake. No.1 brand in the confectionery industry Top 10 reputable food companies.
and in the Top 10 famous brands in
Vietnam. KDF led the ice cream market; TAC ranked 2nd and KIDO Nha Be ranked 3rd in
terms of edible oil market share.
2006-2008
The company received the Labor Medal

class III, was voted for the famous brand
in Vietnam, and National Brand.
FORTIFIED POSITION ANNUAL REPORT 2022 KIDO GROUP

(CONTINUED)
2019-2020
Focused on the high-end segment with the product line "Tuong An Premium - premium
product line" with the golden elephant logo.
Marked the return of KIDO in the snacking market. Merging KDF into KDC.
Top 10 reputable food companies. Top 50 leading brands.
2019-2022: Growth from internal resources
2021-2022
Continued the mission of becoming the No.1 Food Group in Vietnam.
Launched fresh bakery products of KIDO's Bakery brand in the style of "Fashionable Enjoyment".
Returned to the mooncake industry with the brand name KIDO's Bakery with the desire to
reactivate the inherent meaning and tradition of the mid-autumn festival, quickly ranking third
in the market in terms of scale.
Continued to lead the ice cream market; Continuing to rank 2nd in edible oil market share with
Tuong An brand. Honored National Brand 16 subsequent years.
Was the enterprise to win Ho Chi Minh City Gold Brand Award in 2022 for the third time.
ORGANIZATIONAL STRUCTURE
ORGANIZATION AND HUMAN ORGANIZATIONAL CHART

RESOURCES SHAREHOLDERS
O
n the Board of Directors is the Board of
Shareholders. The Board of Directors
assigns the task of managing all
production and business activities to the Board SUPERVISORY BOARD BOARD OF DIRECTORS
of Management.
The Supervisory Board accompanies the Board

of Shareholders, the Board of Directors and the
Board of Management in the role of controlling all BOARD OF MANAGEMENT
activities of the company.
In order to create a balance between short-term

and long-term goals, and at the same time ensure
the correct implementation of the planned
STRATEGIC EXECUTIVE MANAGEMENT COMMITTEE (EMC)
strategic direction, the Board of Management
established an Executive Management PLANNING
Committee (EMC) to submit topics and requests “EXECUTIVE MANAGEMENT COMMITTEE (EMC) LEADS AND
to 3 TEAMs and regulate the whole operation.
After that, a series of horizontal problems are the
SUPERVISES THE PERFORMANCE OF STRATEGIC OBJECTIVES OF THE
center for Teams and departments to implement; GROUP AND PROMOTION OF GENERAL BUSINESS RESULTS.”
combined with the capacity of each TEAM is
specialized and professionalized along the lines.
TEAM 01 TEAM 02 TEAM 03

BUSINESS TEAM TEAM SUPPLY CHAIN SUPPORT TEAM
MANAGEMENT (SCM)
BUSINESS DEVELOPMENT ADMIN, HUMAN
R&D PRODUCTION, QA/QC, LOGISTICS, RESOURCES, FINANCIAL SYSTEM,
MARKETING MATERIALS PURCHASING ACCOUNTING
EDIBLE OIL
ICE CREAM
BAKERY
SPICE
ORGANIZATIONAL STRUCTURE (CONTINUED)
ROLES AND RESPONSIBILITIES OF EACH TEAM IN THE GROUP

THROUGH THE APPLICATION OF DIGITAL TECHNOLOGY, 3 TEAMS
ARE CLOSELY LINKED TO PROMPTLY RESPOND TO MARKET
FLUCTUATIONS BOTH VERTICALLY AND HORIZONTALLY.
TEAM 1 - BUSINESS TEAM
The team that sets the direction of activities in sales, distribution, marketing, product development
and consumer research. Team 1 regularly interacts, connects closely with consumers, studies the
competitive environment and market trends. From there, the departments of Team 1 can deeply
understand the needs and bring the best services to customers. The role of Team 1 is to provide
and feedback information to the entire Company and work closely with the Company's functional
departments towards the goal of providing the right product, at the right time, in the right place,
and meet consumer needs. The tasks of Support Teams (Team 2 and Team 3) are placed around
Team 1 to provide support, provide ideas to respond to or forecast customer needs, market trends
and always takes consumer-centered.
TEAM 2 - SUPPLY CHAIN MANAGEMENT (SCM)
Responsible for finished product manufacturing, quality control, warehouses and logistics
operations. Team SCM is the core strength of the Group. Team SCM is responsible for managing
the production of goods, efficiency in production and distribution of products with the highest
efficiency. Team 2's close coordination with Team 1 helps ensure that the right products, the
right quantities are delivered to the right customers at the most competitive prices. This is an
important step in customer policy and strengthens the development of competitive advantages
for the Group.
T
he role of 3 TEAMs is extremely important in operation. When the market is volatile, the role of 3 teams is
introduced into the business cycle with the capacity designed from within at different rates of increase/
decrease from time to time to meet demand according to fluctuations. Digital technology will solve the
TEAM 3 - SUPPORT TEAM rapid growth of businesses, connecting 3 teams will be closer when digital technology is applied and optimized
by the Group.
Is a Team with specific functions to support the Company's activities including human resources,
▶ CAPACITY OF EACH TEAM NEEDS TO BE SPECIALIZED AND PROFESSIONAL VERTICALLY.
administration, financial accounting and management accounting. The nature of the services
provided by Team 3 is related to infrastructure, services such as IT, Business Process Management,
▶ CONNECTING INFORMATION HORIZONTALLY.
Communications, Investor Relations, Purchasing Management and Finance centrally managed
by the Group. This allows each company to focus on creating profits and other value without the
(A lot of information is two-way and works together to solve the problem)
problems associated with long-term infrastructure investments.
ORGANIZATIONAL STRUCTURE (CONTINUED)
HUMAN RESOURCES STRATEGY ORIENTATION OF HUMAN RESOURCES

As of December 31, 2022, the total number of employees of KIDO Group is 3,982 people.
People are the decisive factor for the success of an enterprise, KIDO always
Bachelor's Degree: 23.43% creates a safe, friendly and professional working environment with the spirit
of thinking as an owner and many opportunities for career development and
Master's Degree: 0.28% encourage employees to work in the long-term. Experiencing an environment
of openness, teamwork, unlimited help employees discover their potential,
Doctor's Degree: 0.08% always trust the leadership from the Board of Directors to jointly lead the
Company to realize the vision and mission. In addition, KIDO also focuses on
% identifying talents and creating opportunities for employees to develop their
careers at subsidiaries of the Group.
Elementary level: 0.10%
Simultaneously, with the enthusiasm for knowledge transfer, KIDO's Board of
Management has designed professional training courses for managers, officers
Intermediate level: 11.40%
and employees. Each training program is a series of values drawn from practical
experiences and the latest updated knowledge of successful businesses in the
Associate level: 11.98% world. The sharing of knowledge from the Group's Board of Directors has opened
up a different, flexible, creative way of thinking for employees, and can adapt to
all changing circumstances of the business environment, and at the same time
shorten the time for employees to complete the work to achieve the goal.
Education level Number of people
Not only creating a learning environment for employees, KIDO also creates
Doctor 3
playgrounds for young people through the internship program. Young
people are guided, shared and rubbed with reality by experienced staffs and
Master 11
concluded with the knowledge they have learned. After that, they were officially
Bachelor 933 recruited and the Group continued to nurture young talents to be able to take
on important positions that the subsidiaries under the Group are expanding.
Associate 477
Intermediate 454
Elementary (Vocational) 4
The remaining 2,100 people are not classified according to the level mentioned in the table above (52.74%).
SHAREHOLDER'S STRUCTURE
Shareholder structure according to the ownership ratio of institutional shareholders and individual
shareholders as of November 23, 2022
SHARES
▶ TOTAL NUMBER OF SHARES
The total number of shares of KIDO as of December 31, 2022 is 279,741,356 shares 279,741,356
(equivalent to charter capital 2,797,413,560,000 VND), in which:
Shares
Institutional shareholders 154,632,515 (55.3%)

279,741,356 shares Individual shareholders 125,108,841 (44.7%)
▶ TOTAL OUTSTANDING BONDS
None
Shares
VOLUME OF SHARES OUTSTANDING Shareholder structure according to the ownership ratio of domestic shareholders and foreign shareholders as
257,224,010 (92.0%) of November 23, 2022
NUMBER OF TREASURY SHARE
22,517,346 (8.0%)

279,741,356
Shares
Shareholder structure according to the percentage of ownership of major shareholders and small shareholders
as of November 23, 2022
Domestic shareholders 207,976,189 (74.3%)
Foreign shareholders 71,765,167 (25.7%)

Tran Le Nguyen 25,864,655
PPK . Company Limited 22,979,565
KIDO Investment Co., Ltd 18,554,201 Shareholder structure according to the CHANGE IN OWNER'S CAPITAL
ownership ratio of state shareholders and
other shareholders as of November 23, 2022 In 2022, KIDO has no change in owner's investment capital.
STAR PACIFICA PTE. LTD. 15,345,000
Liva Holdings Limited 13,200,000

Major shareholder Number of shares TRADING TREASURY SHARES
279,741,356 In 2022, KIDO sold 5,600,000 treasury shares. The number
shares 95,943,421 State shareholders 0 of treasury shares remaining is: 22,517,346 shares.
Major shareholder
(34.3%)
Other shareholders 279,741,356 OTHER SECURITIES
Remaining 183,797,935 In 2022, the Company has not issued other securities.
Total 279,741,356
shareholder (65.7%)
BUSINESS NETWORK
and subsidiaries
BUSINESS NETWORKS
01 05 SUBSIDIARIES 22,300 m 04
WHARF AT NHA BE PORT
HEAD OFFICE LIQUID TANK 3 load capacity: 20,000 DWT
cargo, 5,000 tons of oil
DISTRIBUTION CHANNEL
SYSTEM ALL OVER THE No. Company Name, Factory Name Address
COUNTRY
KIDO Group Joint Stock Company 138 - 142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh
15
1
Headquarter City.
TRANSIT WAREHOUSES KIDO Group Joint Stock Company Lot 07-12, Area A5, Tan Thoi Hiep Industrial Park, Hiep Thanh
2
300
Branch Ward, District 12, Ho Chi Minh City.
KIDO Group Joint Stock Company Box 32, Lot 10, Den Lu 1 Immigration Area, Hoang Van Thu
DISTRIBUTORS 3
Representative office Ward, Hoang Mai District, Hanoi City.
450,000 4
Tuong An Vegetable Oil Joint Stock 138 - 142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh
Company City.
POINTS OF SALE OF
DRY PRODUCTS Lot A2-7, Road No. N4, Cu Chi Northwest Industrial Park, Cay
120,000
Frozen Food Joint Stock Company
5 Sop Hamlet, Tan An Hoi Commune, Cu Chi District, Ho Chi
KIDO
Minh City.
POINTS OF SALE OF
58 Nguyen Binh Khiem, Da Kao Ward, District 1, Ho Chi Minh
FROZEN PRODUCTS 6 Vietnam Vegetable Oil Industry Corporation
City.
370, Go O Moi, Quarter 2, Phu Thuan Ward, District 7, Ho Chi

7 KIDO Nha Be Co., Ltd
Minh City.
01
Lot A2-7, Road N4, Cu Chi Northwest Industrial Park, Cay Sop
FACTORY PRODUCING CAKES FROM FLOUR Hamlet, Tan An Hoi Commune, Cu Chi District, Ho Chi Minh City.
scale of 19,044 tons of products/year in District 12, HCMC 8 Frozen Food Factory (Cu Chi)
Lot C2-3-2, Road No. D6, Cu Chi Northwest Industrial Park, Ap
Cay Sop, Tan An Hoi Commune, Cu Chi District, Ho Chi Minh City.
No. 8 - Road No. 3A - VSIP Bac Ninh Urban & Service Industrial
9 Frozen Food Factory (Bac Ninh)
Park, Phu Chan Ward, Tu Son City, Bac Ninh Province.
02
FROZEN FOOD FACTORY
in Bac Ninh and Cu Chi 01 OIL REFINING FACTORY 10 Oil Refinery and Sesame Oil Press Factory Port of District 7, Phu Thuan Ward, District 07, Ho Chi Minh City.
01
11 Phu My Edible Oil Factory Phu My Town, Tan Thanh District, Ba Ria - Vung Tau Province
SESAME OIL PRESS FACTORY
03
12 Vinh Edible Oil Factory, Nghe An Hung Dung Ward, Vinh City, Nghe An Province.
8,000 m
FINISHED OIL FACTORY
in Nghe An, Ba Ria - Vung Lot 07-12, Area A5, Tan Thoi Hiep Industrial Park, Hiep Thanh
WAREHOUSE SYSTEM NEARLY 2 13 The factory produces cakes from flour
Tau, Nha Be - HCMC Ward, District 12, Ho Chi Minh City.
BUSINESS NETWORK
and subsidiaries (continued)
SUBSIDIARIES
OWNERSHIP IN SUBSIDIARIES KIDO FROZEN FOOD JOINT STOCK COMPANY
Business Registration Certificate No. 4103001557 issued by Ho Chi Minh City

Business License
DPI on April 14, 2003 and subsequent amended BRCs.
95.46% 87.3% 93.77% 73.03% 100%
Lot A2-7, Road No. N4, Cu Chi Northwest Industrial Park, Cay Sop Hamlet, Tan An
Address
Hoi Commune, Cu Chi District, Ho Chi Minh City, Vietnam.
Producing and trading in food and beverages such as ice cream, milk and dairy
Food for daily use Edible oil Export Commerce B2B Frozen Products Ice cream Edible oil Commerce Business Line
and yogurt products, non-alcoholic beverages, mineral water and frozen foods.
Charter capital 541,600,000,000 VND.

TUONG AN VEGETABLE OIL JOINT STOCK COMPANY
Ownership rate KDC owns 73.03% equity and 100% voting rights.
Business License BRC No. 4103002698 dated September 27, 2004 and subsequent amended BRCs.
Address 138 - 142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam. Business value Modern frozen food distribution platform in Vietnam.
Business Line Producing and trading in vegetable oils, animal and vegetable fats.

1,257
Ownership rate KDC owns 95.46% equity and 95.41% voting rights.
1,059
Business value The distribution platform for packaged food is nationwide.
Tuong An Vegetable Oil Joint Stock Company ranks

second in edible oil market share in Vietnam. With
7,563 prestige, pioneering and quality for more than 45
years, Tuong An brand has held an important position
in the hearts of Vietnamese consumers. Brand value
is proven through a series of prestigious awards KDF
such as: National Brand Award for many years, Top 10
Prestigious Food Companies in 2022, Top 10 Most Total assets (Billion VND) Net Revenue (Billion VND)
Selected Brands in the region Urban in 2022, Top 1
2,512
best growth brand in 2022 according to Kantar
Worldpanel's Brand Footprint Report in 2022, more
than 25 years of winning the title of Vietnamese Goods KIDO Frozen Foods Joint Stock Company has maintained the No.1 position in the ice cream market for many
- High Quality voted by consumers... Especially , Tuong years in a row, with a market share of up to 44.5% (According to market survey data from Euromonitor, 2022),
An margarine has maintained its No.1 market position of which the Merino brand accounted for 24.2% and Celano brand holds 19.2% market share. In addition, KIDO
TAC
in Vietnam for more than 10 consecutive years with a Foods is also honored to be in the Top 10 prestigious food companies in 2022 in the group of milk and dairy
Total assets (Billion VND) Net Revenue (Billion VND)
market share of 74.9% (According to market research products and won the National Brand Award in two brands Merino and Celano.
data from Euromonitor, 2022).
BUSINESS NETWORK
and subsidiaries (continued) 1,759
SUBSIDIARIES (continued)
KIDO Nha Be Co., Ltd. is the third largest integrated
commercial edible oil company in Vietnam.
VIETNAM VEGETABLE OIL INDUSTRY CORPORATION 396
Business Registration Certificate No. 0300585984 issued by Ho Chi Minh City

Business License KDNB
DPI on December 31, 2014.
Total assets (Billion VND) Net revenue (Billion VND)
Address 58 Nguyen Binh Khiem, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam.
Business Line Producing and trading in animal and vegetable oils and fats.
Charter capital 1,218,000,000,000,000 VND. KIDO LONG AN CO., LTD
Ownership rate KDC owns 87.3% equity and 87.3% voting rights. Business registration certificate No.1102018632, first registered on October 17,
Business License
2022.
Business value Strong logistics foundation for edible oil import, storage and distribution. Lot B2, Road No. 3, Southeast Asia Industrial Park, Long An, Tan Lap Commune,
Address
Can Giuoc District, Long An Province, Vietnam.
1,992
1,613 Business Line Trading, producing food and beverages.
Vietnam Vegetable Oil Industry Corporation Charter capital 250,000,000,000 VND.

(Vocarimex) is a state-owned enterprise established
with the aim of promoting the development of Ownership rate KDC owns 100% equity.
the edible oil business unit in Vietnam. Over the
years, Vocarimex has invested and promoted Business value The distribution platform of packaged food in the Mekong Delta region.
the development of the business unit with many
strategic partners in the region. With many strategic
investments, production capacity and a strong KIDO Long An Co., Ltd. is a new member of KIDO Group, carrying out the task of commercial edible oil integrated
VOC logistics system, Vocarimex has become a leading with the distribution of packaged foods in the Mekong Delta region and nationwide according to the general
company in the distribution of ingredients for the orientation of the Group.
Total assets (Billion VND) Net revenue (Billion VND) edible oil business unit in Vietnam.
AFFILIATED COMPANIES
NHA BE KIDO CO., LTD (KDNB)
BRC No. 0300832672 issued by Ho Chi Minh City DPI on September 9, 2008 and
Business License
subsequent amended BRCs.
OWNERSHIP IN JV, ASSOCIATE COMPANIES
Address 370, Go O Moi, Quarter 2, Phu Thuan Ward, District 7, Ho Chi Minh City, Vietnam.
Business Line Producing animal and vegetable oils and fats. 50% 50% 24% 40% 49%
Ownership rate KDC owns 93.77% equity and 100% voting rights.
REAL ESTATE PORK MEAT EDIBLE OIL COSMETICS FOOD & BEVERAGES
Business value Extensive industrial customer base.
BOARD OF DIRECTORS
MEMBERS OF THE BOARD OF DIRECTORS
Mr. TRAN KIM THANH Mr. TRAN LE NGUYEN Ms. VUONG BUU LINH Ms. VUONG NGOC XIEM
Founder member, Co-founder, Vice Chairman of the Board Co-Founder, Member of the Board of Directors Co-Founder, Member of the Board of Directors
Chairman of the Board of Directors of the Group of Directors & CEO of the Group & Deputy CEO of the Group & Deputy CEO of the Group
As a Founder member of KIDO Group with more than As an experienced businessman in creating and As one of the founder members, Ms. Linh is currently a She is one of the founder members, Ms. Xiem is currently
30 years of experience in business management and developing businesses, Mr. Tran Le Nguyen is a founding member of the Board of Directors and Deputy CEO of a member of the Board of Directors and Deputy CEO
operation, along with a strategic vision, harmonizing member of KIDO Group. As a founding member and CEO, KIDO Group. of KIDO Group. With over 20 years of experience in
decisiveness and prudence in risk management, he has played a key role in the development of KIDO operating retail chains and franchising the Bakery chain,
Mr. Thanh plays a key role in the Group's development Group over the past 30 years. Under his leadership, he In the early stages of founding the Group, with she has contributed to the management and operation
strategies. Always be keen to seize opportunities, has made an important contribution to leading KIDO to her experience in production management and of the business since its establishment
analyze risks and make decisions to achieve goals, he develop, becoming one of the famous brands in Vietnam administration, she helped the Company overcome
is leading KIDO towards the goal of becoming one of the and owning a rich product portfolio, dominating the challenges and expand its scale in the market. Flexible, creative in approach and market expansion in
largest food groups in Vietnam. market. He has led the KIDO Group's M&A deals and built In addition, with her ability and deep understanding the chain of retail stores, she has helped the Company's
the diverse portfolio of brands that have made KIDO what in the field of management, supply chain operations, brand become more and more connected with
He is devoted to all activities and in each milestone and it is today. cost management, quality assurance and enhancing consumers through the distribution of quality, safe, and
development stage of KIDO Group, he always inspires competitive advantages of enterprises, she has built nutritious products and in line with consumer trends.
and clears development direction for KIDO Group and its He is currently a member of the Executive Committee of and developed departments in the Group's supply chain, With her practical approaching experience, she plays a
member companies. Taking care of and building the next the Vietnam Chamber of Commerce and Industry (VCCI), making an important contribution to the formation of key role in the management team, greatly contributing
generation of talented leaders, his strategy is to create a member of the Ho Chi Minh City Fatherland Front one of the largest food enterprises in Vietnam. to the development and success of KIDO Group during
the best company with a professional staff and operating Committee and a member of the Board of Directors of the past 30 years.
process. many other large companies in Vietnam. Ms. Linh is the leading "architect" in implementing the
ERP system (Enterprise Resource Planning) in KIDO
Mr. Thanh is an experienced businessman in management Group to enhance the Group's ability to make timely
and operation, besides being the Chairman of the Board and accurate decisions. In addition to her in-depth
of Directors of KIDO Group, Mr. Thanh is also a member management skills, she also has experience in the field
of the Board of Directors of a series of other corporations of education investment.
operating in the private sector in Vietnam.
BOARD OF DIRECTORS (CONTINUED)
MEMBERS OF THE BOARD OF DIRECTORS (continued)
Mr. TRAN QUOC NGUYEN

Mr. NGUYEN DUC TRI
Member of the Board of Directors, Deputy CEO of the Group
CEO of KIDO Frozen Food JSC Member of the Board of Directors
Mr. Nguyen has more than 20 years of experience in managing and Mr. Tri has been an independent member of the Board of Directors
operating member companies of KIDO Group. He is currently a member of KIDO Group since 2013. As a Doctor of Business Administration at
of the Board of Directors, Deputy CEO of the Group, and also currently Nanyang Technological University in Singapore, Mr. Tri has worked for
holds the role of CEO of KIDO Frozen Foods Joint Stock Company. In his a sugar manufacturing company under the Ministry of Agriculture and
position, he has made an important contribution to the development Rural Development. teaching for Touro University International, now
and expansion of the frozen food business. Trident University International (California, USA); Faculty of Economics
at Rissho University (Tokyo, Japan); University of Economics. Ho Chi
He played an important role in developing the product portfolio, from Minh City and other joint training programs in Vietnam. In 2016, he was
ice cream, dairy products to frozen food, as well as expanding the appointed to the position of Associate Professor at Stenden University
distribution channel to make the Company become an enterprise with of Applied Sciences, now NHL Stenden University of Applied Sciences
a leading frozen product distribution system in Vietnam, which plays a (Netherlands).
key role in building the two largest ice cream brands in Vietnam today.
Mr. NGUYEN VAN THUAN

Member of the Board of Directors Ms. NGUYEN THI XUAN LIEU
Member of the Board of Directors (the Head of the Internal Audit Committee)
Mr. Thuan is an independent member of the Board of Directors of KIDO Group. Deputy CEO of the Group
As a Doctor of Economics, Mr. Thuan is currently the Dean of the Faculty of CEO of Vietnam Vegetable Oil Industry Corporation
Taxation - Customs, University of Finance - Marketing. He has more than 35 Chairman of the Members' Council of KIDO Nha Be
years of teaching experience in the field of Banking and Finance.
Besides his professional work at the university, he is also a financial Ms. Nguyen Thi Xuan Lieu has been with KIDO Group since 2014 and is
advisor for many foreign companies and organizations in Vietnam. currently Deputy CEO of KIDO Group, Chairman of the Members' Council
of KIDO Nha Be, Member of the Board of Directors of Tuong An Vegetable
Oil Joint Stock Company, CEO of Vietnam Vegetable Oil Industry
Corporation (Vocarimex). She is a Doctor of Economics, she has many
years of experience and holds senior management positions in Finance
of the Vietnam Commercial Bank system.
Mr. NGUYEN GIA HUY CHUONG
Member of the Board of Directors She was honored to receive a certificate of merit from the Prime
Minister; Certificates of Merit from Ministries and Departments; Vietnam
Entrepreneur Award; Golden Rose Award and Labor Medal awarded by
Mr. Chuong has been an independent member of the Board of Directors the President.
of KIDO Group since 2013. He holds a Master's degree in International
Commercial Law from Bristol Law School (UWE, UK). Mr. Chuong is the
co-founder and CEO of Global Vietnam Lawyers GV Lawyers Limited.
He has more than 20 years of experience in practicing law consulting
for multinational companies and large corporations in Vietnam in SUBCOMMITTEES IN THE BOARD OF DIRECTORS
international transactions in many investment fields. He has been
recognized as one of the Top 100 leading lawyers in Vietnam for many
consecutive years, through the lawyer directories in Southeast Asia and Subcommittees in the Board of Directors include Internal Audit under the Board of Directors of the Company.
Asia Pacific such as Asian Legal Business (ALB), IFLR1000, Legal500,
InHouse-Community (IHC),… Ms. Nguyen Thi Xuan Lieu - Member of the Board of Directors is the Head of the Internal Audit Committee.
SUPERVISORY BOARD
MEMBERS OF THE SUPERVISORY BOARD
Ms. NGUYEN THI NGOC CHI Ms. LUONG MY DUYEN

Head of Supervisory Board Member of the Supervisory Board
Ms. Chi graduated from University of Economics in 2007, Ms. Duyen has been working for KIDO Group since 1993 and
majoring in Accounting and Auditing and also in this year started has held many important positions including Deputy Head of
working at the Internal Audit Department of the Group. In 2012, Accounting Department and Chief Accountant of KIDO. Since
she graduated with a Master's degree in Banking and Finance 2006, Ms. Duyen has held the position of Chief Accountant of
from the Open University of Ho Chi Minh City. Currently, Ms. Chi KIDO Real Estate Joint Stock Company. She graduated from
is the Head of Budget Department of KIDO Group and also holds University with a major in Finance and Accounting.
the position of Deputy Managing Director of KIDO Nha Be.
AUDIT COMMITTEE
Mr. LUONG QUANG HIEN
Currently, the personnel in the Supervisory Board are performing good corporate governance activities, so the establishment
Member of the Supervisory Board of subcommittees in the Supervisory Board is not really necessary in this period.
Mr. Hien has more than 20 years of experience in Finance,

Management and Financial Transactions. During his 12 years at
KIDO from 1999 - 2011, he was involved in financial management,
partnerships, as well as participating in a series of mergers and
acquisitions (M&A) and other corporate restructuring projects.
In addition to the position of Head of Supervisory Board of KIDO,
he is the Managing Director of Hung Vuong Joint Stock Company.
Mr. Hien graduated from Foreign Trade University of Ho Chi

Minh City and holds a Master of Business Administration from
Washington State University, USA.
BOARD OF MANAGEMENT
MEMBERS OF THE BOARD OF MANAGEMENT
Mr. TRAN LE NGUYEN Ms. NGUYEN THI XUAN LIEU Mr. BUI THANH TUNG Mr. MAI XUAN TRAM
Co-founder, Vice Chairman of the Board Member of the Board of Directors Deputy CEO of the Group Deputy CEO of the Group
of Directors & CEO of the Group Deputy CEO of the Group CEO of Tuong An Vegetable Oil JSC Deputy CEO of KIDO Frozen Food JSC
CEO of Vietnam Vegetable Oil Industry Corporation CEO of KIDO Nha Be Co., Ltd
Chairman of the Members' Council of KIDO Nha Be Deputy CEO of Vietnam Vegetable Oil Industry Corporation
As an experienced businessman in creating and Ms. Nguyen Thi Xuan Lieu has been with KIDO Group Mr. Tung has nearly 30 years of experience in Joining KIDO Group for more than 22 years, he was one
developing businesses, Mr. Tran Le Nguyen is a founder since 2014 and is currently the Deputy CEO of KIDO manufacturing and trading in domestic and foreign of the first people to build and operate the distribution
member of KIDO Group. As a founder member and CEO, Group, Chairman of the Members' Council of KIDO enterprises. In particular, he has a deep understanding system model of the Group. Currently, he is a member of
he has played a key role in the development of KIDO Nha Be, Member of the Board of Directors of Tuong An of the SBU model that KIDO is operating. Currently, he the Board of Management, responsible for managing the
Group over the past 30 years. Under his leadership, he Vegetable Oil Joint Stock Company, CEO of Vietnam is the Deputy CEO of the Group, CEO of KIDO Nha Be, company's conditional business activities. As a person
has made an important contribution to leading KIDO to Vegetable Oils Industry Corporation (Vocarimex). She is CEO of Tuong An Vegetable Oil Joint Stock Company who understands the market, has a strategic vision as
develop, becoming one of the famous brands in Vietnam a Doctor of Economics, has many years of experience and Deputy CEO of the Vietnam Vegetable Oil Industry well as planning and building an operating management
and owning a rich product portfolio, dominating the and holds senior management positions in Finance of Corporation (Vocarimex). system, he has a deep understanding of the company,
market. He has led the KIDO Group's M&A deals and built Vietnam's commercial banking system. the level of competition and the market through practical
the diverse portfolio of brands that have made KIDO what He graduated from the Faculty of Business experience. He graduated with a Bachelor of Business
it is today. She was honored to receive a certificate of merit from Administration at the University of Economics and Administration from the University of Economics Ho Chi
the Prime Minister; Certificates of Merit from Ministries completed the Advanced Leadership Skills training Minh City and a MBA from California Miramar University
He is currently a member of the Executive Committee of and Branches; Vietnam Entrepreneur Award; Golden course from UCLA Anderson University (Los Angeles, (USA).
the Vietnam Chamber of Commerce and Industry (VCCI), Rose Award and Labor Medal awarded by the President. USA).
a member of the Ho Chi Minh City Fatherland Front
Committee and a member of the Board of Directors of
many other large companies in Vietnam.
BOARD OF MANAGEMENT (CONTINUED)
MEMBERS OF THE BOARD OF MANAGEMENT (continued)
Mr. WANG CHING HUA Mr. TRAN TIEN HOANG Mr. MA THANH DANH
Deputy CEO of the Group Deputy CEO of the Group Deputy CEO of the Group
Mr. Wang has more than 30 years of experience in the Mr. Hoang joined KIDO Group in 1997 and has more Mr. Ma Thanh Danh has been with KIDO Group since the
food processing and manufacturing industry. With his than 25 years of experience in managing and operating early days of its establishment. He has been appointed
experience, he has contributed with the founders of the purchasing system in the field of consumer goods to the position of Deputy CEO of the Group since 2013,
the Group to lay the foundation for KIDO's production (FMCG). In 2011, he was appointed as Deputy CEO of in charge of risk management and internal control for
activities from the early days of its establishment to the Supply Chain. the Group. He has more than 13 years of experience in
expansion of KIDO's production scale in the food market business strategy management, brand management
in Vietnam. Currently, he holds the position of Deputy Currently, he is the Deputy CEO in charge of the supply consulting, mergers and acquisitions (M&A).
CEO of the Group. chain segment of the whole Group. He graduated with
a BA from the University of Economics and a Advanced He is also a BigData implementation consultant for
Leadership Training course from UCLA Anderson many businesses in Vietnam. He holds a Bachelor
University (Los Angeles, USA). of Electrical Engineering, a Bachelor of Business
Administration from the University of Economics, a
MBA majoring in International Business Strategy and
Brand Management in Belgium.
CHANGES IN THE EXECUTIVE BOARD
In 2022, KIDO has not had any changes in the Board of Management
STRONG BELIEF IN INNOVATION
ACCELERATION TO LEAD
STRATEGY REPORT
FORTIFIED POSITION ANNUAL REPORT 2022 KIDO GROUP 2 STRATEGY REPORT 48 49
MESSAGE
from the CEO
FROZEN FOOD
BUSINESS UNIT
FACING THE GENERAL DIFFICULTIES OF THE ECONOMY, KIDO GROUP SETS The clearest and most successful
OUT DEVELOPMENT STRATEGIES FOR EACH PERIOD, AND AT THE SAME results of the business unit in
TIME MAKES EFFORTS TO MAINTAIN THE OPERATION OF THE CATEGORIES. 2022 include the summer LAP
promotion campaign: “Have
delicious ice cream - Win gifts
right away”, the winter LAP
campaign “Don’t be afraid of
winter - Eat ice cream at home
and win the gifts" deployed to
the North and Central regions,
I
has created very positive signals
n 2022, the situation of the Covid-19 to increase revenue for the low
epidemic in Vietnam was almost under season of the business unit. At
control. People's lives, tourism situation, the same time, the business unit
socio-economic development activities... has also continued to implement
are gradually reactivated. However, along the "Bring ice cream to home"
with the development in the new normal, activity to penetrate take-home
new difficulties and challenges have consumption.
gradually appeared such as: The prolonged
military conflict between Russia and
With many activities and promotions implemented, KIDO's ice cream business unit continues to maintain its
Ukraine; inflation remained high, especially
leading position in the ice cream market in Vietnam with a market share of 44.5%, of which Merino brand accounts
in Europe and the US; the trend of increasing
for 24.2% and Celano brand holds 19.2% market share (According to market survey data of Euromonitor 2022).
interest rates, narrowing monetary policy in
many countries; unusual weather changes
in many continents… The fluctuations EDIBLE OIL BUSINESS UNIT
of the socio-economic situation in the Faced with world fluctuations that caused broken supply chains, sharp fluctuations in raw material prices and
country and the world have caused many high transportation costs, difficulties in shipping schedules, ship arrangement... The Group did not stop updating
businesses in Vietnam to be seriously and forecasting the situation so that it can be flexible in regulating the source of raw materials, optimizing costs,
affected, leading to business closures or combined with optimal exploitation of the supply chain, increasing the capacity of the tanks to ensure reserves
cutting personnel. for production.
With nearly 90% of raw materials imported In 2022, the edible oil business unit actively focused on developing mid and high-end products, promoting
from the international market (Edible activities in sales channels by implementing a series of brand activation programs such as the campaign
Oil Business Unit), KIDO is one of the "Tuong An 45 years - Spread happiness"; The "happy bus" to Vietnam's provinces and cities with a series of
enterprises that is greatly affected by promotional activities, playing games and checking-in to receive gifts, stimulating shopping demand, increasing
the above impacts when the price of raw connection with consumers; Campaign "Tet with Tuong An - Lucks and Prosperities"… In addition, KIDO
materials increases but the selling price in has boosted sales by expanding commercial and industrial customers nationwide, oil-using facilities in the
the market remains unchanged, the cost of production and processing of local products, continue to promote export activities.
corporate management increased... Facing
the general difficulties of the economy, Besides focusing on market-oriented activities, in 2022, through boosting production, investing in machinery
KIDO Group set out development strategies and equipment, and upgrading capacity... the edible oil business unit will continue to develop and maintain
for each period, and at the same time made its 2nd position in the business unit in Vietnam, leading the margarine business unit with 74.9% market share
efforts to maintain the operations of the (According to data from Euromonitor, 2022).
categories. Specifically, the activities of
each category are as follows:
MESSAGE
from the CEO (continued)
OTHER BUSINESS UNITS Dear Shareholders,

2022 was the first year marking the return of KIDO in the moon cake business unit with KIDO's Bakery brand with In 2023, the economic situation is forecast to continue to be complicated when the war between Russia - Ukraine
the desire to reactivate the traditional values of the Vietnamese mid-autumn season. Accordingly, KIDO's Bakery has has not ended, the global supply chain is still affected... Therefore, the economy will definitely be still many
continued to be well received by Vietnamese consumers with more than 300 tons of cakes produced and supplied to difficulties, the inflation situation will be still complicated in the coming time. However, with the foundation
the market. In terms of results, KIDO's Bakery mooncake, although newly launched, has been in the Top 3 major brands of sustainable development, the room for stable growth in the industries that KIDO participates in, and the
in terms of business scale. At the same time, KIDO's Bakery fresh bakery products are also gradually making their mark strategic direction for the next 5 years is "Centralized Management", expressed in 05 aspects: Operational
on the market and that is a positive signal for KIDO to officially conquer the Northern market. Strategy - Brand Development & Management - Development of Distribution Channel System - Human Resource
Management - Finance & Investment Activities, KIDO Group promises to continue to bring long-term value for
With the efforts and determination of the Board of Besides production and business activities, KIDO shareholders.
Directors and the spirit of solidarity, enthusiasm Group and its member companies in the past year
and high responsibility in all areas of work of the have also been honored with many prestigious awards Along with the above strategy, the Group restructured the way of organization and operation and focused on
Group's employees in 2022, KIDO still maintained such as: 16 consecutive years of having products promoting expansion in 04 key product lines: Edible Oil; Ice Cream; Bakery; Spices, aiming to lead in the business
its growth momentum. Accordingly, in the face of with national brands (KIDO); Top 50 Prestigious & units that the Group participates. In particular, the orientation for each business unit is specifically planned as
objective impacts of the market, from the economy, Effective Public Companies in 2022 (KIDO); Top 25 follows:
and a sharp increase in raw materials and corporate Brands of Leading F&B Company (KIDO); Top 50 most
management costs in 2022, KIDO Group's net revenue profitable enterprises in Vietnam 2022 (KIDO); Top 50 • Edible Oil Business Unit: Expanding strategic competitive products, diversifying segments from popular
reached 12,535 billion VND, completing 89.5% of the most effective companies in Vietnam (KIDO); Typical to mid-range and high-end, bringing many choices to consumers nationwide; Increasing product coverage,
year plan, up 19.4% compared to 2021. Pre-tax profit in enterprises in Ho Chi Minh City in 2022 (KIDO); Top 10 focusing on diversifying distribution channels, expanding margarine product portfolio... Tuong An will
2022 reached 511 billion VND, completing 56.7% of the Brands chosen to buy the most in urban areas in 2022 continue to affirm its position and become a national brand.
whole-year plan. This result did not really reflect the (Tuong An); Top 10 Prestigious Food Companies 2022
• Ice cream Business Unit: Focusing on the goal of maintaining the No.1 position and increasing market
full capacity of KIDO and we needed to clearly show it, (Tuong An & KIDO Foods)… These are positive reviews
share; Continue to expand the market; Launching new products based on the needs of specific target
promote it strongly and developed even more in the for the Group's efforts in the journey to conquer
groups; Focus on implementing brand activation activities, towards building ice cream to become a regular
coming time. Vietnamese consumers.
and preferred consumer product of the majority of consumers.
• Bakery Business Unit: Researching and launching more new products to suit current tastes and trends,
meeting multiple needs: Main meal, snacks, nutritious food, shared-meal... focusing on 03 main groups:
Cakes with short lifetime, cakes with long lifetime and festive gifts (Tet, Mid-Autumn Festival). At the same
time, building more specialized distribution channels for the bakery business unit in addition to resonating
with existing distribution channels.
• Spice Business Unit: Investing in research and thoroughly evaluating products before launching into the
market. Quality and difference in product taste are priority factors to enter the business unit. In addition, we
will take advantage of Tuong An's brand foundation and current distribution channel system to enter the
business unit faster and more efficiently.
In general, the implementation of goals to dominate the market is a long-term process, which needs to be done
carefully in each stage and needs the collective efforts of the Group's employees. In the immediate future, we
need to make efforts to complete the target of net revenue of VND 15,000 billion and pre-tax profit of VND
900 billion in 2023.
Following the successes of the past time, which will create momentum for further development in the coming
period, I hope that all shareholders, investors and all employees of the Group will make more efforts, more
determined to join hands to bring KIDO to affirm its leading position in the essential food segment in Vietnam as
well as conquer the international market in the shortest time.
Once again, I would like to express my sincere thanks to our shareholders who have always trusted, supported
and accompanied us throughout the years. Your trust and companionship will continue to be a great source of
strength to help us complete our strategy and plan.
TRAN LE NGUYEN
Chief Executive Officer of KIDO Group
14,073 14,005
FORTIFIED POSITION ANNUAL REPORT 2022 KIDO GROUP 2 12,349 STRATEGY REPORT 52 53
2020A 2021A 2022A
BUSINESS RESULTS
14,073 14,005
12,349
12,535
2020A 2021A
10,497 2022A
8,324
FINANCIAL HIGHLIGHTS
INDICATION | Unit: MILLION VND
BALANCE SHEET
2020A 2021A 2022A
W ith impressive growth over the years, KIDO Group is one of the companies honored with
Brand" and one of 45 companies that won the "Ho Chi
2020A
products include Tuong An Cooking Oil, Tuong An Season
2020A
Minh City Gold
10,497
2021A
8,324 Cooking Oil, 2021A
Brand" award.
"National
12,535
Honored
2022A
Celano ice cream and
2022AMerino
ice cream. Nearly 30 years of development, KIDO has expanded beyond confectionery including ice cream,
yogurt, edible oil, desserts and fresh cakes.
12,535
▶ Short-term assets 5,477,497 7,013,592 6,980,388 Currently, KIDO Group is leading in Vietnam with the Margarine brand
2020A accounting10,497
for a market share
2021A of 74.9%;
2022A
2,274
Leading the ice cream business unit (accounting for 44.5% market share) and 2nd in2,051
8,324 the edible oil business unit
1,765
▶ Long-term assets 6,871,658 7,059,113 7,024,405 (about 39% market share) in Vietnam. KIDO Group still maintains its position as one of the prestigious and strong
Food Groups in Vietnam.
▶ Short-term liabilities 3,805,345 5,397,243 5,427,180
2020A 2021A 2,274
2022A
▶ Long-term liabilities 844,423 1,780,820 1,524,885 2,051
Total assets Profit before tax
1,765
▶ Equity 7,699,387 6,894,643 7,052,728 2020A 2021A 2022A

Unit: Billion VND Unit: Billion VND
Total assets 12,349,155 14,072,706 14,004,793
14,073 14,005 688 2,274
12,349
2,051
BUSINESS RESULTS 1,765 511
2020A 2021A 2022A
416
▶ Net Revenue 8,323,616 10,496,864 12,535,183
▶ Gross profit 1,764,988 2,051,015 2,273,606 14,073 14,005

688
12,349 511
▶ Profits from Associates 171,986 110,471 104,079 2020A 2021A 2022A 2020A
416
2020A
2021A
2021A
2022A
2022A
▶ Operating Profits 407,904 688,520 498,510

14,073 14,005 688
▶ Profit before tax 416,077 687,829 510,598 12,349
12,535 9.5%
2020A 2021A 511
2022A
10,497
▶ Profit after tax 330,238 653,291 374,656 Net revenue
2020A
8,324
2021A 2022A ROE 416
5.3%
Unit: Billion VND Unit: Percent
4.3%
FINANCIAL RATIOS
9.5%
▶ Quick ratio 1.12 0.84 0.88 12,535
2020A 2021A 2022A 2020A 2021A 2022A
2020A 10,497
2021A 2022A
▶ Current ratio 1.44 1.30 1.29 8,324 2020A 2021A 2022A
5.3%
4.3%
▶ Total Debt / Total Assets 38% 51% 50%

12,535 9.5%
EFFICIENCY RATIOS 10,497 4.6%

2,274
8,324
2020A 2021A
2,051 2022A 2020A 2021A 2022A
1,765 5.3%
▶ Inventory Turnover (times) 5.41 3.39 4.64 4.3%
2.7% 2.7%
▶ Account Receivables Turnover (times) 3.58 4.11 4.25

4.6%
2020A 2021A 2022A
▶ Total Assets Turnover (times) 0.67 0.75 0.90 2,274
2020A 2021A 2022A
Gross1,765
profit 2,051
ROA2020A
2.7% 2021A 2.7%
2022A
PROFITABILITY 2020A 2021A 2022A
Unit: Billion VND Unit: Percent
▶ Gross Profit Margin 21.2% 19.5% 18.1%
688 2,274 4.6%
2,051
▶ Pre-tax profit margin 5.0% 6.6% 4.1% 1,765 511
2020A 2021A 2022A
416 2.7% 2.7%
2020A 2021A 2022A
▶ ROE 4.3% 9.5% 5.3%
▶ ROA 2.7% 4.6% 2.7%

688
2020A
2020A 2021A
2021A 511
2022A
2022A 2020A 2021A 2022A
416
688
9.5%
511
416
2020A 2021A 2022A
Edible oil business unit 2018A - 2022A
BUSINESS RESULTS (CONTINUED)

Unit: Percent
81.7% 84% 85%

85% 82%
81.7% 79.5%
79.5% 84% 82%
EVALUATION REPORT OF THE BOARD OF MANAGEMENT

ASSESSMENT OF THE PERFORMANCE OF THE GROUP IN 2022:
1. Some highlights affecting production and business activities:

2018A
2018A 2019A
2019A 2020A
2020A 2021A
2021A 2022A
2022A
▶ The Group always plans the right goals and strategies. Each implementation strategy always has clear specific
actions.
Food business unit 2018A - 2022A
▶ The price of palm oil material has dropped sharply and gradually stabilized in the last 5 months. Unit: Percent
20.5%
20.5%
▶ The exchange rate and interest rate increased slightly in the last months of the year but were still in the control zone. 18.3%
18.3% 18%
18%
16%
16% 15%
15%
▶ Food businesses are always facilitated by banks and partners to be flexible in terms of business capital flows.
▶ The Group's system of machinery, equipment and oil processing technology is modern and advanced in the region.
▶ Having a team of qualified and experienced employees in the field of investment, processing and trading in
the following business units: edible oil, ice cream, fresh cakes,... 2018A
2018A 2019A
2019A 2020A
2020A 2021A
2021A 2022A
2022A
2. Main indicators
2,274
GROSS PROFIT Gross profit in 2022 reached VND 2,274 billion, up 10.9%
Implementation compared to 2021, showing that the Group achieved high
Implemented
No. Targets Unit Planned in 2022 rate compared BILLION VND efficiency in production management and cost control.
in 2022
to the plan (%) In addition, the Group continues to optimize production
costs at factories to reduce overall production costs in the
10.9% compared to 2021
1 Revenue Billion VND 14,000 12,535 89.5% low season, thereby improving the overall gross profit.
2 Profit before tax Billion VND 900 511 56.7%
The company has the advantage of low inventory prices while market price volatility was high. The Group always
1,446 409
OPERATING EXPENSES
has focused on forecasting and evaluated the market to find a competitive advantage in 2022 and minimized
the impact of volatile oil prices. As a result, the price strategy was adjusted appropriately for each period to help GENERAL
bring profits. SELLING EXPENSES BILLION VND ADMINISTRATION BILLION VND
EXPENSES
With a foundation of sustainable development combined with flexibly adjusting business plans for each period,
11.5% 3.3%
KIDO has maximized its internal and external strengths, bringing many achievements in business activities. With
SELLING EXPENSES/ GENERAL ADMINISTRATION
the support and trust of consumers, we are on the right track in the process of diversifying customers' product
baskets in the Group’s orientation of essential food industry.
REVENUE IN 2022 SELLING EXPENSES/REVENUE
3. Regarding environmental protection:

In 2022, the Group has been flexible in sales methods in line with market trends to increase consumption.
Periodically, the Group registers plans related to environmental protection, performs environmental impact
Accordingly, selling expenses in 2022 reached VND 1,446 billion, an increase of 20.8% compared to 2021.
assessment and measures to treat waste, emissions, dust and noise in accordance with regulations of the
Of which: selling expenses from the edible oil business unit decreased by 25% compared to 2021 and the
Ministry of Resources and Environment.
food business unit increased by 1.31 times compared to 2021. However, selling expenses/revenue in 2022
was 11.5%, which was quite similar to the selling expenses/revenue in 2021 (11.4%).
NET REVENUE
General administration expenses in 2022 were VND 409 billion, General administration selling expenses/
In 2022, consolidated net revenue reached VND 12,535 billion, completing 89.5% of the plan, up 19.4% compared revenue in 2022 was 3.3%, which was under control (under 4%).
to 2021 mainly due to the revenue growth of the edible oil business unit and the revenue contribution of fresh
cakes from the new brand KIDO's Bakery. Net revenue from the edible oil business unit accounted for 82% of the This shows that our cost control activities in the categories are quite strict at a reasonable control rate.
Group's net revenue and the food business unit accounted for 18%.
BUSINESS RESULTS (CONTINUED)
PROFIT BEFORE TAX (PBT) AND PROFIT AFTER TAX (PAT)
511 BILLION VND

375 BILLION VND
PROFIT BEFORE TAX A SHARP DECREASE
25.8% compared to 2021

COMPARED TO THE SAME
PERIOD LAST YEAR
The world's economy in general and Vietnam's economy in particular need time to shape
and regain its position after 2 years of being affected by the Covid-19 pandemic, all business
activities of all economic sectors are was decelerated, causing profits from business to
decrease, leading to a decrease in profit before tax in 2022 by 25.8% compared to 2021,
reaching VND 511 billion and completing only 56.7% of the plan for the whole year.
The reduction of corporate income tax of the loss-carrying factor for the period 2015-2018
has completed the previous allocation. Since then, profit after tax in 2022 reached VND 375
CAPITAL STRUCTURE
7,053
billion, a sharp decrease compared to the same period last year.
BILLION VND
TOTAL OWNER'S EQUITY IN 2022
With the strength of financial resources, we always take advantage and seek investment opportunities
through mergers and acquisitions to expand the distribution system and strengthen the retail channel
to optimize capital efficiency and contribute to the Group's development. The ratio of Total Debt to
Total Assets as of December 31, 2022 was similar to the same period last year, at 0.5 times.
Total equity in 2022 reached VND 7,053 billion, an increase of VND 158 billion compared to 2021
mainly due to the sale of 5.6 million treasury shares, resulting in a corresponding increase in the
value of share premium.
FIXED ASSETS
2,703
As of December 31, 2022, our fixed assets
BILLION VND reached 2,703 billion VND, down 5.6 billion
VND compared to 2021 due to depreciation
and fixed asset formation from construction
FIXED ASSETS
5.6 Billion VND compared to 2021

in-progress
CORPORATE STRATEGY
MEDIUM AND LONG-TERM STRATEGY EMC
Team 03 Team 02 Team 01

SUPPORT TEAM SUPPLY CHAIN BUSINESS
MANAGEMENT (SCM)
▶ Administration - ▶ Business
Human Resources ▶ QA/QC ▶ R&D
▶ System ▶ Logistics ▶ Marketing
▶ Finance - Accounting ▶ Materials Purchasing
Continue the mission Continue growth

of becoming the strategy through CLIENT
No.1 Food Group in expanding revenue
Vietnam and expand opportunities and
into Southeast Asia. increase customer BRING VALUES TO CUSTOMERS
value.
Price Quality Ready to Various Feature Service Partner Trademark

supply options
Optimize business Diversify the product

performance through basket of consumers and
the application of digital bring the KIDO brand to a
technology in business leading position in the field FINANCE
and management. of essential goods.
OPTIMIZED PERFORMANCE GROWTH STRATEGY

STRATEGY
SHAREHOLDERS'
LONG-TERM
VALUE
Improve Increase Expand Increase
cost asset revenue customer
structure efficiency opportunities value
CORPORATE STRATEGY (CONTINUED)

Focus on 03 Core Strategies: Rapid growth in To-go market, penetration in Take-home market and
SHORT-TERM STRATEGY export market. Specifically:
Based on the restructuring of the Group, KIDO Group is currently divided into 4 SBUs for management & ▶ To-go market: Focus on expanding the product line, building the business unit, expanding the
operation. Therefore, solutions and implementation strategies of each category are clearly oriented by the distribution system.
Board of Directors. Specifically: ▶ Take-home market: Promote the application of technology in the development of the category,
thereby increasing the storage time of ice cream products, solving the market demand for
▶ Continue to affirm its position, becoming eating ice cream at home. Develop more
the leading brand in the business unit new products to meet the needs of many
within products and region. generations of the family.
EDIBLE OIL ICE CREAM
▶ Penetrate and continue to diversify ▶ Export market: Local flavored specialty
products by adding new, healthy BUSINESS BUSINESS products will be the key factor for KIDO to
products, expand strategic competitive
UNIT UNIT expand to the world and make a difference.
products, diversify segments from At the same time, the Group actively
popular to mid-end and high-end, and negotiates with partners in other countries
increase the choice for consumers to quickly bring ice cream products to world
nationwide. customers.
▶ Expand and strongly develop the margarine industry by launching many new products, Continue to improve team capacity, market development, product portfolio. Diversify segments,
enhance its position and continue to maintain its No.1 position in the margarine business consumers, and plan the business unit from ice cream to regular cold snacks.
unit in Vietnam.
The great advantage of the leading brand, the experience in product research & development,
▶ Improve product quality, design packaging. the ability to quickly develop the distribution system will be the competitive advantage, and the
strength for KIDO to make a difference compared to the competitors in the same business unit,
▶ Increase product coverage, focus on diversifying distribution channels to serve
and the basis for strategies to be effectively implemented.
consumers, thereby occupying the market that the business unit wants to penetrate.
▶ Continue to develop Tuong An brand to become a national brand, receive the love, trust
and support of customers nationwide.
▶ For fresh bakery products with short-life: Focus on launching more new product lines:
bread, sponge cake, sandwich..., quickly expanding distribution system, serving high demand
▶ Survey and launch the market of and diversity (full meal, weaning meal,
essential seasoning products: Spice enjoyable meal, nutritious meal, shared
seasoning powder, fish sauce, chili meal) of consumers nationwide.
sauce... on the basis of Tuong An - A
longtime brand loved and appreciated
SPICE BAKERY ▶ For bakery products with a long-life:
Actively looking for delicious, world
by consumers for its quality. BUSINESS BUSINESS famous product lines, distributed in the
▶ Focus on developing essential UNIT UNIT Vietnamese market through the KIDO
product sets that go together, help Group brand.
points of sale have more choices,
increase the consumer experience,
towards the goal of "Filling in
▶ Mooncakes: After a period of testing the market's reaction, KIDO's Bakery mooncakes return
Vietnamese kitchens".
with a different and premium positioning. KIDO's Bakery focuses on innovation, bringing
premium flavors into each mooncake. Invest heavily in developing sophisticated and luxurious
▶ Take full advantage of the advantages of Tuong An brand, distribution channels, human
product sets to serve the needs of gifting during the festive season. Brand development, taking
resources, logistics system ... to develop quickly.
advantage of KIDO's existing distribution channels, combined with developing new distribution
▶ Carefully develop and penetrate in each region/market, adjusting the taste to each region. systems to quickly reach consumers as well as increase brand awareness. Set a goal to rank
Set the goal of ranking 2nd in the fish sauce business unit in Vietnam within the next 5 years. 2nd in the market within the next 3-5 years, and at the same time narrow the gap compared to
competitors.
MARKET STRATEGY
MARKETING STRATEGY
The specific marketing strategy for each business unit in the next period is as follows:
Edible Oil Business Unit Ice Cream/Frozen Food Business Unit
▶ Orientation to develop the edible oil business unit according to consumer needs (fried, ▶ The product development orientation is based on user groups such as children, teenagers, adults,
stir-fired, marinated...), health needs and other special needs (for children, the elderly, etc.) families and product development planning based on the needs of each specific audience.
▶ Focus on exploiting the mid-end segment by expanding the product portfolio that matches ▶ Continue with portfolio strategy, expand product portfolio to increase usage frequency and
the product value and Tuong An's value, proceeding to expand the segment and dominate this business unit penetration across most of the core elements such as: snack, local flavors,
segment. international flavor, nutrition…
▶ Continue to be proactive and lead innovations in product development & business unit sales. ▶ Summer, and winter LAP programs and other promotional activities continue to be the unique
operating foundation of the business unit in order to maintain the highest sales growth in the
▶ Invest and develop the brand so that Tuong An becomes a leading competitive advantage,
business cycle.
becoming a representative of not only the edible business unit but also a series of other
essential food products under the Group, including spices. ▶ Invest in Celano & Merino brands to increase competitive advantages, barriers to entry and lead
business unit growth. In particular, the positioning & core attributes of the two brands will be
based on the consumer audience as the basis for exploitation.
Spice Business Unit Bakery Business Unit
▶ Tuong An brand will be a key factor in the business unit, reaching new consumers. ▶ Development orientation of the bakery business unit in 3 main groups: short-life for essential
daily needs, long-life bakery for snacking, enjoyment needs and festive seasons (Mid-Autumn
▶ Quality & taste are important competitive factors for the business unit, so investing in research
Festival, Tet) for gift demands.
and thorough evaluation before launching into the market is extremely necessary and cannot
be ignored. ▶ Focus on the difference or added value of each product when compared with competitors,
ensure advantages and promote strengths in product development and industry knowledge
▶ Take advantage of the Group's strengths in distribution channels to increase product awareness,
of the Group.
and at the same time attract consumers to try and consume the product in the long-term.
▶ Fresh cakes will be the main spearhead of the Group, exploiting the trend of bakery and enjoying
▶ Focus on trial activities, affirm the prestige, the origin of product quality to ensure long-term
by the majority of consumers in the current business unit.
support, move forward with Tuong An Cooking Oil, and become an indispensable product in
consumers' kitchens. ▶ Mid-Autumn Festival & Tet will be the two main and extremely important festive seasons of
the bakery business unit, helping the Group's cake brand to create a firm belief and conquer
customers.
BRAND STRATEGY
and system of product lines under the group
BUSINESS FROZEN FOODS SNACK FOOD

DAILY ESSENTIAL FOOD
UNIT
PRODUCT ESSENTIAL
THỰC PHẨM CONVENIENT
THỰC PHẨM DRY FROZEN FESTIVE
EDIBLE OIL ICE-CREAM DESSERT LONG-LIFE SHORT-LIFE
SPICES
THIẾT YẾU SEASONING
ĂN VẶT PRODUCTS PRODUCTS GIFTS
PORTFOLIO
BUTTER/MARGARINE COOKIES BREAD

SEASONING SWEET SOUP
NOODLES/DRIED B2B DUMPLINGS
VERMICELLI
TO GO LUNAR NEW YEAR
CRACKERS
MAYONNAISE CUSTARD CAKE
FISH SAUCE INSTANT NOODLES/PHO B2C YOGURT BREAD
OYSTER SAUCE WAFFLES/ SPONGE PASTRY
TAKE HOME
MID-AUTUMN
FESTIVAL
SOY SAUCE MARINATED/DIPPING SAUCE CRISPY FLOUR TRADING FLAN CAKE SPRING ROLL
CANDY/GUM/ SANDWICH
CHOCOLATE
TRADEMARK
Pantone 2146 C Pantone 2146 C

# 00358E # 00358E
COMMUNICATION STRATEGY
For communication activities, the Group develops communication activities by focusing

on 03 main spearheads including:
Digital marketing communication: Focus on perfecting the entire

digital infrastructure such as website, youtube, fanpage (facebook),
tiktok, instagram... to create efficiency in terms of customers and
content. Strengthen the implementation of advertising on digital
platforms to quickly increase the number of reach and continue
to find target customers. At the same time, actively build unique
contents to increase interaction on platforms.
Marketing communication of events and

programs: By accompanying and sponsoring
Direct marketing communication at the major events, TV programs/reality programs/
point of sale: Through activities of brand Game show... helps the Group promote its image
recognition, display, promotion, customer widely to viewers, attendees who are interested
service, etc. at the point of sale. in programs/events.
CUSTOMER STRATEGY PRODUCT STRATEGY
A
Edible Oil: Divide into 4 product groups
according to popular, mid-end, high-end &
ll consumers in Vietnam of all ages (from children to the elderly in households) trust and choose KIDO's specialized segments, especially meeting
products. the needs of consumers' cooking behavior
and health. Continue to increase product
convenience through information on packaging,
bottle design and product characteristics
TEENAGER HOUSEHOLD WOMEN according to general consumer trends.
Ice cream: Continue to diversify flavors

according to market & consumer trends,
expand the audience not only to young people
and design separate products to meet the
needs of ice cream takeaway & home eating.
Spices: Safe and healthy products with

natural and suitable ingredients in food,
especially suitable for Vietnamese taste, meet
the convenience of cooking behavior in the
new era.
Bakery: Develop groups of fresh and delicious

bakery products, different in taste & new
consumer trends, which stand out with lines
68% AGED FROM 15 TO 64

of bread, sponge cake, sandwich, pastry and
especially Mid-Autumn cake.
CHILDREN TEENAGER YOUTHS ADULTS ELDERS FAMILIES
AGE BELOW 15 AGED OVER 65
7.7% 24.3%
TO SERVE 26.9 MILLION HOUSEHOLDS 85% OF VIETNAMESE CONSUMERS
HAVE AT LEAST ONE KIDO'S PRODUCT
REPORTS RELATED
to environmental and social responsibility
REGARDING ENVIRONMENTAL AND SOCIAL RESPONSIBILITY OUTSTANDING PROGRAMS IN EACH BUSINESS UNIT
▶ The Activation activity called "Happy car trip" to celebrate

the 45th establishment anniversary of Tuong An aims to
spread happiness to 63 provinces and cities in Vietnam
with minigame activities, check-in to receive gifts, and
encourage consumption in local cities.
▶ Promotion activity "Summer to receive gifts with Tuong
An" for consumers at Co.op Mart, Co.op Xtra, Big C, Go!,
Tops Market nationwide with a series of attractive prizes,
Compliances with the law on environmental protection especially 02 lucky customers won 02 Honda Vision
motorbikes.
▶ The company plays attention to activities that comply with the law on environmental protection.
▶ In 2022, the Company did not have any records related to violations due to non-compliance
with environmental laws and regulations.
▶ Successfully implemented the Annual LAP Program:

Policies related to environment and society Have delicious ice cream - Win gifts right away. The
program's target results exceeded 9% of the plan, sales in the
▶ Paying attention to the working environment and employees' health is always an important implementation phase increased by 40% over the same period.
factor to ensure sustainable development. Every year, the Company always organizes
▶ The winter stimulus campaign "Don’t be afraid of winter
periodical medical examinations for all employees, health insurance and accident insurance
- Eat ice cream at home and win the gifts" deployed to
programs are also applied.
the North and Central regions is also generating a very
▶ Regularly organizing fire practice with professional forces on fire prevention and fighting in positive signal to increase revenue for the business unit's
the area to ensure the good implementation of security and fire prevention in the company. low season.
▶ The quality of human resources plays an important role in the Company's business activities.
The company always builds a specific training plan, selected training contents. Employees have
maximized their capacity, and boldly proposed the application of technology in management
and production, practical efficiency, contributed to the development of the Company.
Pantone 2146 C
# 00358E
▶ Officially returning to the moon cake market with KIDO's

Bakery brand with the message "Enjoy the taste - Give
your love".
Reports regarding responsibility to the local community
▶ The products have received the trust and support of
▶ Maintaining social activities to take care of the local community and disadvantaged many consumers/customers with more than 300 tons
individuals in need of help. In 2022, both the Company and employees have joined hands to of cakes produced by KIDO reaching consumers in the
make practical and effective contributions to the community. mid-autumn festival of 2022. Besides, all of the cakes of KIDO's
Bakery has also officially "sold out" nationwide before the
▶ In addition, the company also has many activities with the local community: coordinating the mid-autumn festival.
work of maintaining security, order, and environmental sanitation.
▶ Accompanying the School Fest program.
ASSESS
growth potential in each category
W
ACCORDING TO EUROMONITOR'S RESEARCH REPORT, THE GROWTH POTENTIAL ith a clear strategic direction in investing in food products with stable growth potential and a sustainable
OF THE BUSINESS UNITS THAT KIDO GROUP IS DEVELOPING, CREATE A development foundation, the Group always aims to bring the best quality to customers along with a
DIFFERENCE WITH AVERAGE REVENUE GROWTH FROM 2020 TO 2025 GET variety of essential product categories to increase value and competitiveness in the market, progressing
STABLE GROWTH. to the leading position in the categories.
INCREASE THE VALUE OF KIDO GROUP
DRY PRODUCTS
CHANNEL
450,000
POINTS OF SALE
OF DRY PRODUCTS
FROZEN PRODUCTS
CHANNEL
SUSTAINABLE
6.4% 8% 8.8%
120,000
POINTS OF SALE
FOUNDATION
FROZEN PRODUCTS
FOOD FOR DAILY USE ICE CREAM AND YOGURT EDIBLE OIL
% 8% 8.8%
POTENTIAL FOR GROWTH OF
EACH
ICE CREAM AND YOGURT EDIBLEBUSINESS
OIL UNIT IN KIDO
% 8.8%
EDIBLE OIL BUSINESS UNIT
STRATEGY
URT EDIBLE OIL STRATEGIC
FROZEN FOOD BUSINESS UNIT
MISSION AND STRATEGY
VISION
BAKERY BUSINESS UNIT
STRATEGY
BUSINESS MODEL
NỀN TẢNG INCREASE THE VALUE OF KIDO GROUP
CHANNEL MARKET CONSUMERS

VOCARIMEX TUONG AN KIDO NHA BE
OIL AND
ADMINISTRATION
FAT
INGREDIENT TRANSPORTATION PROCESSING
DRY PRODUCTS
KIDO FOODS
FINANCE CHANNEL
ICE CREAM
& FROZEN
PRODUCTS 450,000
POINTS OF SALE
INGREDIENT PROCESSING PACKING
OF DRY PRODUCTS
RESEARCH & FROZEN FOOD

DEVELOPMENT PRODUCTS CHANNEL
DABACO FOODS
PROCESSED
FOOD
PROCESSED MEAT HAM PATE PORK HAM
DISTRIBUTION
IMPORT AND EXPORT
120,000
CHANNEL
SPICE
POINTS OF SALE
OF FROZEN PRODUCTS
PRODUCTS
MARKETING AND
EDIBLE OIL SEASON FISH SAUCE SOY SAUCE BRANDING
B2B KEY ACCOUNT

CHANNEL
OEM
PRODUCTS
LOGISTICS
PROCESSING
EXPORT
PARTNERS
SEASONAL CHANNEL
SUGAR SPICES DRINKING WATER INSTANT NOODLES TECHNOLOGY

DIGITALIZATION AND AUTOMATION PROCESS

S
DIGITAL TECHNOLOGY MODEL FOR CUSTOMERS ER RE
S UM POTAI
L
N OF INT
CO SA S
LE
AS AN ENTERPRISE ESTABLISHED IN 1993, THROUGHOUT THE NEARLY

30-YEAR JOURNEY, WE HAVE ALWAYS FOCUSED ON APPLYING DIGITAL
TECHNOLOGY TO STAY AT THE FOREFRONT OF OUR BUSINESS IN THE
VIETNAMESE MARKET.
KIDO's non-stop transformation process started modernizing the workflow with business efficiency
when we applied the DMS system to improve the and customer convenience, aiming to best serve the
efficiency of the distribution channel, bringing needs of consumers at different times of the day.
the company's products to the Distributor system
quickly and accurately. The success of applying Also based on digital technology, we have also
digital technology in the first phase has confirmed implemented KIDO Shop and E-commerce to deliver
the correctness of our digital strategy to improve goods from Distributors to consumers and from
business efficiency. companies to consumers directly.
With the needs of customers as the focus, we have This is the inevitable trend of digital technology 4.0
applied digital technology to bring products from today. We ensure the stability of the digitization
our Distributor system to retail points across the platform by focusing on investing in a flexible,
country. With 450,000 points of sale spread across easy to-use, impressive system structure to serve all
the country, KIDO Shop helps us bring products to types of customers with convenience. DI
ST
the point of sale quickly with products suitable for RI
Y BU
the characteristics of each region, helping us to Besides, we set up the IT system, recruit talents, invest
PAN TO
RS
OM
check the quantity of goods consumed at point of heavily in technology and deploy training courses, to
sale, popular products, the status of our assets at the ensure that our customers from Distributors, Points C
point of sale, ensuring product presence at the point of sales, consumers can use a safe, stable system
of sale based on the positioning of digital software, and ensure information security in the best way.
DIGITALIZATION AND AUTOMATION PROCESS

(continued)
STEPS TO IMPLEMENT DIGITAL TECHNOLOGY TRANSFORMATION
Use digital technology to

Use AI to analyze and Exploit new markets based
Digitize the entire Mine big data for communicate directly with
forecast inventory to on the capabilities of digital
operation, production market analysis and consumers and optimize their
each supplier, point of technology (unified operation
and business processes prediction experience, deliver products
sale via Platform)
according to customer expectations
DIGITAL TRANSFORMATION PATHWAY

APPLY: BUSINESS PROCESS MANAGEMENT SYSTEM
2020-2021 2021-2022 2023-2025 2023-2025
Prepare infrastructure such as: Build Data Business Warehouse, exploit Use AI to analyze inventory forecasts for each Exploit new markets in the capacity
data to analyze and predict the market. supplier, for each point of sale. Apply technology of digital technology, and develop
(1) Standardize the user's terminal/terminal devices for the Office block; Control work through efficiency from to communicate directly with consumers, and E-Commerce channels.
action plans. optimize customer experience.
(2) Upgrade the computer, upgrade the core network system to help
secure and transfer data quickly;
(3) Standardize the process of converting from paper to digitized

documents.
SOLIDIFIED INTERNAL RESOURCES
ACCELERATED SUCCESS
CORPORATE GOVERNANCE
FORTIFIED POSITION ANNUAL REPORT 2022 KIDO GROUP 1 2 3 4 5 CORPORATE GOVERNANCE 82 83
CORPORATE GOVERNANCE
KIDO ALWAYS PUTS THE INTERESTS OF ITS PARTNERS FIRST, INCLUDING

CUSTOMERS, SUPPLIERS, DISTRIBUTORS, POINTS OF SALE, INVESTORS AND
EMPLOYEES.
ACTIVITIES OF THE GENERAL MEETING OF SHAREHOLDERS

Information on meetings and Resolutions/Decisions of the General Meeting of
Shareholders (including resolutions of the General Meeting of Shareholders adopted
POLICY FOUNDATION in the form of written opinions):
We understand that each customer group has a link to each other in terms of benefits, so it is necessary to
be consistent in orientation and communication to ensure that each customer group clearly understands the No. Resolution/Decision No Date Content
Group's strategy and each member company. Resolution of the General Meeting
1 Not available 03/23/2022
of Shareholders Annual 2022
KIDO ensures that our business and innovative ideas not only meet the expectations of our stakeholders, but
also help us adapt to changes in the world’s business environment. Therefore, strengthening the corporate Resolution of the General Meeting
2 Not available 12/20/2022
governance structure will be prioritized to help KIDO increase its management capacity. In addition, focusing of Shareholders in 2022
on strengthening corporate governance capacity will also help us build trust, transparency with partners and
social responsibility to the community.
BOARD OF DIRECTORS
The Board of Directors (BOD) of KIDO Group has 9 members, including 3 independent
FEATURES OF CORPORATE GOVERNANCE STRUCTURE members. Independent members are selected from thousands of applicants based
on qualifications, experience and professional qualifications.
The Group has undergone a major transformation in recent years. Along the way, our goal is to create a solid
foundation for our systems and processes to drive business performance and profitability. Special emphasis is
placed on simplifying the corporate structure to increase transparency and efficiency in all operations. ISSUES WITHIN THE AUTHORITY OF THE BOARD OF DIRECTORS
The Board of Directors has the greatest responsibility in managing the Company's
business operations and supervising the Company's activities in the best interests of
The Board of Management - shareholders, including managing subsidiaries in accordance with the core business
EMC structure is in the form of a plan of the Group to ensure compliance with legal regulations as well as KIDO's
“matrix” at each member company, business objectives.
which will enhance the ability to
communicate information within The Board of Directors supervises the management through the reports of the Board
the Group and help make decisions of Management at the quarterly report meeting.
quickly and in a timely manner. Built
on transparency across functions Evaluation of the performance of the Board of Management: The Board of Management
and within the Group, an effective complied with the regulations, reporting regimes, and deployed the resolutions of the
“matrix” functional structure Board of Directors and the General Meeting of Shareholders to the departments; The
facilitates discussion and decision company's work is carried out seriously and in accordance with the requirements.
making.
The remuneration of the Board of Directors and the Supervisory Board is paid in
We have also used the Strategic accordance with the provisions of the Resolution of the Annual General Meeting of
Business Unit model to manage Shareholders.
business activities at KIDO Group
and its member companies. During the year, the company did not conduct treasury stock transactions.
RISK MANAGEMENT
STRATEGIC RISKS
Macroeconomic, political - social and legal risks
The economic downturn, high inflation and political and social issues negatively affect consumer spending.
RISK FACTORS ARE CLASSIFIED THROUGH THE SCORING SYSTEM
The Group closely monitors changes in the economic and socio-political environment in the region to
FROM “UNCERTAINTY” TO “RISK OF OCCURRENCE”. POTENTIAL
anticipate changes in consumer sentiment and raw material prices. In addition, maintaining prudent policies in
IMPACTS ARE CALCULATED AND RANKED FROM “MINOR” TO “SEVERE”.
purchasing, working capital management and cost control to minimize fluctuations when consumer demand
IF A POTENTIAL RISK FACTOR IS RATED 'POSSIBLE' AND HAS IMPACT
changes.
ASSESSMENT 'SEVERE', IT WILL BE REPORTED IMMEDIATELY TO THE
RISK MANAGEMENT COMMITTEE TO SOLVE WITH INTERNAL CONTROL
COMMITTEE. Risks from consumer demand
THESE POLICIES, PROCEDURES ARE UPDATED INTO THE MANAGEMENT The ability to predict changes in consumer trends and to ensure consistency in development strategy,
SYSTEM AND WIDE NOTICE ON THE INTERNAL OF THE GROUP. demand is critical to success. Failure to predict trends synchronism in operating policies and in business
INTERNAL SUPERVISORY COMMITTEE WILL FOLLOW THE INSPECTION and demand poses significant risks to the Group. activities of the Group, thereby allowing us to strengthen
AND EVALUATE THE IMPLEMENTATION PROCESS. To minimize this risk, the Group uses a Centralized our corporate governance, reduce risks during operation.
Management strategy in five areas: Operational Strategy
- Brand Development & Management - Development Building strong relationships with retailers and
of Distribution Channel System - Human Resource distributors is also an important factor in ensuring
Management - Finance & Investment Activities, helping product reach, penetration, and revenue growth.
INTERNAL CONTROL PROCESS

RISK OF CHANGE IN PRICE OF RAW MATERIALS
Every year, risk monitoring and management systems are re-evaluated by the Internal Control Committee and
necessary changes are made. Following the review, new policies are adopted and implemented, and the cycle Changes in raw material prices represent a significant risk to our bottom line.
repeats as above to ensure that risk management is a proactive process. This is consistent with a dynamic With our market position as one of the major importers of palm oil and soybean
economic environment like Vietnam. oil in Vietnam, we are under a lot of pressure to proactively forecast market
fluctuations.
Risk factors are classified through a scoring To reduce risk, we share this risk management responsibility with our suppliers,
system from “Uncertain” to “At risk”. Potential who are the world's largest crude oil traders. With our supplier's solid market
impacts are calculated and ranked from “minor” knowledge and our deep understanding of the Vietnamese market, we are able to
to “Severe”. If a potential risk factor is rated send our suppliers a clear raw material procurement plan and guarantee a fixed
“Possible” and has an impact assessment of price in a suitable period to have stability in production costs.
“Severe”, it is immediately reported to the Risk
Management Committee, which works with the
Internal Control Committee. The Group always
aims to introduce measures to monitor and CURRENCY RISK
reduce risks.
Currency risk is a direct result of the difference in foreign currency payments
These policies and procedures will be for input materials while we have no corresponding foreign currency revenue.
communicated to the Group and its divisions To the best of our ability, we hedge all foreign currency import contracts by
to monitor the situation and ensure that any forward rate contracts to fix the cost of our imports when converted to VND.
changes in risk are immediately reported to the We also limit foreign currency loans, and when borrowing, we make sure to hedge
Commission. against exchange rate and interest rate fluctuations.
The Group and its divisions continuously assess Changes in regional and global financial markets can have a significant impact on
and identify risks and work together with the Risk interest rates, leading to risks affecting liquidity and profitability. To mitigate this
Management Committee to monitor possible risk, we actively monitor the maturity of our loans to balance operating cash flow
risks within the Group such as probabilities and with payments.
identify problems needs to be resolved.
MANAGEMENT
OF ENVIRONMENTAL PROTECTION
ENERGY CONSUMPTION
DEMAND FOR ELECTRICITY
No. Business unit Unit Electricity usage (monthly average)
1 Bakery kWh 59,820

2 Edible Oil kWh 1,126,193
3 Ice-cream kWh 1,467,305
(Source: Summary of electricity bills at factories of KIDO Group)
Note:
▶ For the bakery business unit, the factory includes: Factory producing cakes from flour at Lot 7-12 (area A5),
Tan Thoi Hiep Industrial Park, Hiep Thanh Ward, District 12, Ho Chi Minh City. Because the company has just
invested in a factory and has been in operation since June 2022. Therefore, from January to May, the company
uses electricity for construction and renovation purposes.
For Ice Cream business unit, the factories include:
Frozen Food Factory at Lot A2-7, Road N4 and at Lot C2-3-2, Street D6, Northwest Cu Chi
Industrial Park.
Frozen Food Factory at No. 8 - Road No. 3A - VSIP Bac Ninh Urban & Service Industrial Park,
Phu Chan - Tu Son - Bac Ninh.
For the edible oil business unit, the factories include:

DEMAND FOR WATER
No. Business unit Unit Electricity usage (monthly average)
Oil Refining Factory and 1 Bakery m3 993

Sesame Oil Press Factory Vinh Edible Oil Factory
at Port of District 7, Phu in Hung Dung Ward, Vinh City, 2 Edible Oil m3 18,888
Thuan Ward, District 07, Nghe An Province.
Ho Chi Minh City. 3 Ice-cream m3 15,580
(Source: Summary of water bills at factories of KIDO Group)
Note:
▶ Bakery segment: From January to May, water is mainly used for the construction and renovation of factories,
from June onwards, the main demand for water is for production activities. However, in August, in addition
Phu My Edible Oil Factory to using water for production activities, the company also used water for road leveling, laying water pipes,
in Phu My Town, Tan Thanh
District, Ba Ria - Vung Tau electrical pipes and filling aquariums, water was mainly used for soil leveling and road washing. Therefore, the
Province. demand for water in August was higher than in other months, up to 3,125 m3/day.
▶ Ice-cream segment: Currently, although the company no longer uses borehole water, it has switched to
using local water for the plant's operations.
MANAGEMENT
OF ENVIRONMENTAL PROTECTION (continued)
WATER SOURCE AND SEWAGE TREATMENT SYSTEM PERIODIC MONITORING OF SEWAGE AND SLUDGE
Sewage is generated at the company from the following sources: PERIODIC MONITORING OF SEWAGE
▶ Domestic sewage from sanitation activities of employees;
Periodically, the Group evaluates the quality of sewage generated at the factories by coordinating with the
▶ Production sewage arising from daily cleaning of production machinery and equipment and periodic boiler competent Environmental Measurement and Analysis Unit to take samples and analyze the quality of sewage.
blowdown;
Monitoring frequency: 04 times/year.
Periodically, the Group conducts the environmental impact assessment for each plant to serve as a basis for
determining the total sewage volume generated according to the design in the environmental protection plan. Monitoring location, number of samples exceeding the standard: NO.
CONTINUOUS AND AUTOMATIC SEWAGE MONITORING

SEWAGE TREATMENT WORKS
The company is not in the case of automatic and continuous sewage monitoring.
PERIODIC SLUDGE MONITORING
Periodically, the Group monitors the sludge generated at the factories by coordinating with the
Domestic sewage treatment competent Environmental Measurement and Analysis Unit to take samples and analyze the quality
of sewage.
Sewage from the toilet Connecting sewage collection Monitoring frequency: 02 times/year.
infrastructure of the Industrial
Park at 01 point on the sewage Monitoring location, number of samples exceeding the standard: NO.
pipeline to the centralized sewage
treatment plant of the Industrial
Treatment by septic tank Park for further treatment to
03 compartments meet Vietnamese standards
according to the regulations of the
Ministry of Natural Resources and
Environment before discharge to
Sewage treatment the receiving source.
station
Production sewage treatment
Connecting sewage
Production sewage Sewage treatment station collection infrastructure of
the industrial park
MANAGEMENT ▶ Measures to minimize the impact of dust generated during loading at the mixing stage
OF ENVIRONMENTAL PROTECTION (continued) To limit dust impact on workers directly in the project, some of the following measures have been applied by
the company:
• For workers working at loading areas, they are equipped with masks during their work;
ENVIRONMENTAL PROTECTION FOR GAS EMISSIONS
• Reasonable arrangement of time for transportation as well as loading of raw materials and products,
regularly cleaning the area after loading;
• The materials and products are carefully covered, not to be dropped during the transportation as well as the
SOURCE AND VOLUME OF GAS EMISSION loading process;
• The mixing device is designed closed, the process of loading powder materials is carried out in parallel with
the water supply process to limit dust generation;
During the operation, the potential sources of air pollution at the company include:
• In addition, the company also maintains the density of trees in the project premises to limit dust spreading
▶ Dust and gas emissions generated from the operation of vehicles in and out of the project area;
to the surrounding environment.
▶ Dust from loading activities of materials, products and loading at the mixing stage;
▶ Dust arising from the production stage: with some powdered materials, dust will be generated at the input
stages when mixing. Dust generated in this stage is small in size and weight, so it is likely to disperse and
affect workers directly; ▶ Minimize the impact of dust, gas emission from boilers
▶ Dust generated from the boiler; The project's boiler has a capacity of 2 tons to 2.6 tons of steam/hour, using DO oil as fuel. The combustion
▶ Gas emissions from backup generators; process will generate wastes such as dust, SO2, NOx, CO. However, according to the calculation results in Table
2.16, the concentration of oil-fired boiler, gas emission is quite low and within the allowable limit according
▶ Odor from garbage decomposition at the project's garbage collection site. to QCVN 19:2009/BTNMT column B. Therefore, the factory only implements good management measures to
control boiler gas emission quality is as follows:
• The boiler is equipped with a high chimney to limit gas fumes affecting neighboring companies;
• Use low-sulfur DO oil S ≤ 0.05%;
• Operate the boiler properly;
GAS EMISSION TREATMENT WORKS • Regularly check and maintain the boiler;
• Periodic monitoring of gas emission quality.
To control these pollution sources, the company has taken a number of measures as follows:
▶ Measures to reduce dust, gas emissions and noise • Properly coordinate means of transport to avoid ▶ Minimize the impact of backup generators ▶ Minimizing the impact of odors from
concentrating too many vehicles operating in the centralized landfills
• Vehicles entering and leaving the project require • Use low %S oil (DO oil) to reduce SO2 concentration
project area at the same time.
slow speed, restricting vehicles entering the in gas emission. With this content of S = 0.05%, For domestic waste, fresh waste from
project area, except for vehicles importing and • Turn off the machine while waiting for loading goods. the concentration of SO2 in the gas emission will production, the project owner needs to strictly
exporting raw materials and finished products. be within the allowable standards. and fully implement strict management
• Isolate the noise source from the main production
Use water to regularly moisten roads and yards area from other areas in the Factory. measures from the process of collection,
• • The generators used by the factory are new
to reduce dust. storage and contract with the sanitation unit
• Regularly check the machine balance when installing, (100%) and equipped with noise and vibration
for transportation to move garbage within the
• Vehicles transporting materials must be covered, check the wear of parts and check the lubricating oil. reduction components, minimizing the impact of
day, avoiding long-term stagnation of waste.
covered with tarpaulins, to avoid falling fabrics noise, vibration and polluting emissions.
• Attach to the fan output of the muffler. In the process of storing waste, the project
that affect the environment and traffic. • The project will prioritize using grid electricity for owner should take the following measures:
• Install anti-noise cushions for fan legs and economic and environmental reasons.
• For loading vehicles and transportation vehicles • Arrange separate waste storage areas
production equipment.
belonging to the company's assets, carry out routine • The generator will be located in the house with and storage facilities to ensure safety;
maintenance and operate at the correct load to • Using gas-powered transport vehicles in its own generator and the wall surrounding the
minimize harmful gas emissions from these vehicles. warehouses to replace petrol and oil-powered • Transfer household waste to the unit that
generator is designed with thick walls with foam
vehicles in order to reduce noise. collects and processes it daily, avoiding
• Use standard fuel, low sulfur concentration inside to limit the noise emitted.
storing it for too long;
(0.05%) for transport vehicles. • Plant trees in the factory premises to isolate noise • Using the measure of gas emission by height to
from the surrounding area. • Arrange more trees around the garbage
• Do not use expired vehicles. dilute the gas emission into the air.
storage area to absorb part of the bad smell.
MANAGEMENT
ENVIRONMENTAL PROTECTION FOR EMISSIONS (continued) PREVENTION, RESPONSE AND REMEDY OF ENVIRONMENTAL INCIDENTS
The implementation of prevention, response and remediation of environmental incidents focus on clarifying the
following main contents:
PERIODIC MONITORING OF EMISSIONS
WORKPLACE SAFETY MEASURES

Periodically, the Group conducts emission monitoring at factories by coordinating with the competent
Environmental Measurement and Analysis unit to take samples and analyze the quality of emissions.
Monitoring frequency: 04 times/year. During the operation, the company will take the following measures to prevent occupational accidents:
▶ Develop detailed tables of internal regulations on occupational safety for each stage and each stage of
Monitoring location, number of samples exceeding the standard: NO. production;
The company is not in the case of automatic and continuous emission monitoring. ▶ Fully equipped with labor protection equipment for workers;
▶ Equip with necessary medical equipment and tools and medicines for timely first aid before transferring the
victim to the hospital;
▶ Prepare an incident response plan that identifies potential locations for incidents, arrange personnel and
information equipment to ensure information when incidents occur;
ENVIRONMENTAL PROTECTION FOR WASTES ▶ Coordinate with specialized agencies to organize training sessions on emergency response operations,
practice medical emergencies, proficient use of information means and contacts in case of incidents;
Solutions to prevent environmental incidents at the facility.
▶ Employees (including apprentices) before entering work must have a medical examination; the project owner
must base on the actual health status to arrange suitable jobs for employees;
▶ There is a plan for periodic health check-up for employees at least once a year. The health check-up is carried
FOR GENERAL SOLID WASTE MANAGEMENT out by specialized units and complies with the provisions of Circular 14/2013/TT-BYT dated 06 May 2013 of the
Ministry of Health on guiding health examination.
Every year, the Group coordinates with functional and competent units to manage, classify and collect ordinary
solid waste according to regulations in order to make statistics of domestic solid waste and industrial solid waste
(including both regular and unexpected occurrences) arising at factories.
FOR HAZARDOUS WASTE MANAGEMENT
Every year, the Group cooperates with competent units to make statistics and reports on hazardous waste
management.
Hazardous waste management plan for the next reporting period:
Continue to manage, classify, collect and treat solid waste according to Decree 08/2022/ND-CP dated January 10,
2022 of the Government and Circular No. 02/2022/TT-BTNMT dated 10 January 1, 2022 of the Ministry of Natural
Resources and Environment detailing the implementation of a number of articles of the Law on Environmental
Protection.
MANAGEMENT
PREVENTION, RESPONSE AND REMEDY OF ENVIRONMENTAL INCIDENTS (continued)
PREVENTION AND RESPONSE TO FIRE AND EXPLOSION INCIDENTS PREVENT OF THE ENVIRONMENTAL INCIDENTS
The project is built and equipped with equipment for fire prevention, detection and fighting according to ▶ Prevent breakdowns of water supply and drainage pipes
international standards and Vietnam's fire prevention and fighting standards.
• Water supply and drainage pipes must have safe isolation lines.
▶ Establish a team to inspect and protect the ▶ In order to ensure timely response to fire and • Regularly check and maintain the connections, locking valves on the pipeline system. Conduct periodic
project's power transmission network system. explosion incidents, in functional areas, automatic dredging of the sewer system.
Thereby, it will reduce the risk of fire caused by fire alarm systems will be set up and a direct fire • Make sure there isn't any construction on the plumbing.
short-circuit and electric discharge. extinguishing system with water cannons will be
installed in accordance with current regulations. Septic tank and local wastewater treatment system failure prevention
▶ Place boards of rules and regulations for fire ▶
prevention and fighting at the entrances and in ▶ Install a common lightning protection system for
areas prone to fire and explosion. the entire project area and each functional zone, The company must regularly monitor the operation of the septic tank, and maintain it periodically to avoid possible
especially at high positions of the project area, at the problems such as:
▶ Strictly comply with standards and regulations on
power station area, according to new technologies Blocked toilet or blocked pipes leading to feces, and urine cannot drain.
fire and explosion prevention during operation. •
to achieve high safety for project activities.
▶ The company's employees are trained and • Clogged septic tank exhaust pipes cause bad odors in the toilet or can cause an explosion in the septic tank.
▶ Use the type of active lightning protection device, In this case, it is necessary to clear the air duct to limit odors as well as ensure the safety of the toilet.
instructed in fire prevention methods.
lightning poles are arranged to protect the project
▶ Regularly check and monitor fuel and chemical with the specified protection height. • Contract with a functional unit to periodically collect and vacuum the septic tank and dispose of it in
storage areas to avoid leakage of fuel and accordance with regulations.
▶ The system of storage of raw materials and fuel is
chemicals that cause an explosion.
designed to meet technical and safety standards.
▶ Invest in fire protection equipment in areas. ▶ For Sewage Treatment System: and immediately notify the infrastructure
▶ Vehicles transporting raw materials and fuel management unit for a reasonable response plan.
Arrange fire-fighting water pipes according to the • Equipped with backup machinery such as sewage
must have legal status as well as meet safety
network in all main areas, and place fire hydrants pump, stirring motor, chemical dosing machine,...
and technical standards to be able to handle ▶ Prevent problems with solid waste storage,
at points near functional areas convenient for to replace immediately after the machines are
transportation on roads. collection and treatment:
fire-fighting. The fire-fighting axes are arranged broken, keeping the treatment system in operation.
along the main road from 1-2 meters away from • Ensure 100% of solid waste generated at the
the edge of the main road. Countermeasures: • The workers who operate the sewage treatment
project is collected, stored and treated in
system selected by the company are engineers
accordance with regulations.
In the event of a fire incident, the company will take who have been professionally trained in the
the following measures to handle: environment and have experience in operating • Ensure the waste storage warehouse has
sewage treatment systems. enough capacity, is arranged and cleaned.
▶ When detecting a fire, immediately notify the
rapid response team. • Environmental management staff at the company • Solid waste is stored and carefully packaged to
will participate in training courses organized by avoid leakage of wastewater into the environment.
▶ Remove workers from hazardous areas
state agencies.
• Arrange personnel in charge of supervising and
▶ Immediately use manpower and fire-fighting means
• The company will sign contracts with experienced monitoring the collection and storage of waste
on site to limit the damage caused by incidents.
units in the construction of sewage treatment and contact functional units for timely collection
▶ Depend on the severity of the incident, the rapid systems to maintain the system regularly, in order and treatment, avoiding the situation of waste
response team will decide to deploy self-correction to promptly replace and overcome problems to being stagnant for many days, especially
or immediately call the area's fire department. help the sewage treatment system always be in household wastes leading to bad odors, affecting
good working condition. the factory's beauty and workers' health.
▶ Compensate for related damages, if any.
• When any problem of sewage collection and
treatment occurs, it is necessary to temporarily
stop discharging waste into the Industrial Park
MANAGEMENT
SOURCE OF RAW MATERIALS FOR FINISHED PRODUCTS AND RECYCLING ICE CREAM BUSINESS UNIT
▶ Basic products at Frozen Food Factory include: Ice cream, yogurt and dumplings, steamed buns.
Currently, the company does not produce dumplings and steamed buns, and only produces ice
cream and yogurt. Operation frequency: regular.
▶ In 2022, the average volume of ice cream products reached 1.35 million liters/month and the
average volume of yogurt products reached 0.2 million liters/month.
▶ The main ingredients for ice cream production include: milk, flavorings, colors, spices, ice cream
sticks, crystalline sugar, malt sugar, coconut oil, flour, chocolate, other: strawberry, banana, bean,
coconut, apple, almonds, etc. (preliminarily processed).
▶ The main ingredients for yogurt production include: milk, flavoring, color, additives, yeast, sugar,
malt, crystallized sugar, other: aloe vera, orange, longan, melon, ... (preliminarily processed).
▶ All ingredients for the production of ice cream and yogurt are registered for periodic output and
are used in compliance with regulations. Currently, there has not been any arising related to the
byproducts and waste products after production to generate the recycling process.
EDIBLE OIL BUSINESS UNIT
BAKERY BUSINESS UNIT

▶ Basic products at edible oil factories include: Refined oil, finished oil, sesame oil, soybean oil, and
margarine. Operation frequency: regular.
▶ In 2022, the volume of finished products ranged from 20,000 tons to 30,000 tons/month.
▶ The factory producing cakes from flour started to operate in June 2022 with the frequency of
▶ The main raw materials for the production of finished products include: palm oil, soybean oil,
regular operation. The average volume of finished products is 93.5 tons/month with the proportion
sunflower oil, and rapeseed oil, ...
allocated to each finished product including Bread, Cakes and Mooncakes.
▶ All materials used to produce finished products are used in compliance with regulations. In addition
▶ The main ingredients for cake production include: flour, granulated sugar, milk, olein oil, shortening,
to the main ingredients from the oil refining process, products such as: oil cake, stearin, shortening,
sauce, eggs, butter, additives, meat, salted eggs, tubers, green beans, lotus seeds, taro, and
and mixed fatty acids are by-products in the production of vegetable oils used as processing
packaging.
materials in the processing industry for food and animal feed. The company does not recycle
▶ All baking materials are registered for periodic output and used in compliance with regulations. by-products, the company searches and supplies by-products for businesses in the field of food
Currently, there has not been any arising related to the by-products and waste products after processing and animal feed.
production to generate the recycling process.
REPORT
of the Board of Directors & Supervisory Board
REPORT OF THE BOARD OF DIRECTORS ▶ Information about the Board of Management and Chief Accountant
MEETING REPORT & RESOLUTIONS OF THE BOARD OF DIRECTORS

No. Member of the BoD Title Qualification Appointed Date
In 2022, the Board of Directors (“BOD”) held 20 regular meetings. Through the meetings, the Board of
Directors issued the following resolutions:
1 Mr. Tran Le Nguyen CEO Bachelor 09/06/2022
BOARD MEETINGS AND RESOLUTIONS OF THE BOD
ACTIVITIES OF THE BOD FOR THE BOARD OF MANAGEMENT 2 Ms. Vuong Buu Linh Deputy CEO Bachelor 09/06/2022
▶ Information about members of the Board of Directors and meetings of the Board of Directors:
3 Ms. Vuong Ngoc Xiem Deputy CEO Bachelor 09/06/2022
4 Ms. Nguyen Thi Xuan Lieu Deputy CEO Doctor 12/12/2014
5 Mr. Tran Quoc Nguyen Deputy CEO Bachelor 12/15/2010
6 Mr. Wang Ching Hua Deputy CEO Bachelor 09/06/2022
7 Mr. Mai Xuan Tram Deputy CEO Master 09/06/2022
8 Mr. Bui Thanh Tung Deputy CEO Bachelor 12/15/2009
9 Mr. Tran Tien Hoang Deputy CEO Bachelor 01/05/2011
10 Mr. Ma Thanh Danh Deputy CEO Bachelor 12/05/2013

Number of meet-
ings attended Ownership
No. Member of the BoD Title Appointed Date Voting rate
by the Board of rate (%)
11 Ms. Nguyen Thi Oanh Chief Accountant Bachelor 08/08/2011
Directors
1 Tran Kim Thanh Chairman of the BoD 20/20 06/15/2020 100% 0.20%
▶ Supervisory activities of the Board of Directors to the Board of Management:
2 Tran Le Nguyen Vice Chairman of the BoD 20/20 06/15/2020 100% 13.23%
Monthly, request the Board of Directors to report on business performance.
3 Vuong Buu Linh Member of the BoD 20/20 06/15/2020 100% 0.91% At the meetings of the Board of Directors, Board of Management participated in order to grasp the leadership
policy of the Board of Directors, and at the same time, the Board of Management reported on the production and
business situation.
4 Vuong Ngoc Xiem Member of the BoD 20/20 06/15/2020 100% 0.06%
5 Tran Quoc Nguyen Member of the BoD 20/20 06/15/2020 100% 0.13%
6 Nguyen Thi Xuan Lieu Member of the BoD 20/20 06/15/2020 100% -
Independent member of
7 Nguyen Van Thuan 20/20 06/15/2020 100% 0.03%
the BoD
8 Nguyen Gia Huy Chuong 20/20 06/15/2020 100% 0.01%
the BoD
9 Nguyen Duc Tri 20/20 06/15/2020 100% 0.00%
the BoD
REPORT
of the Board of Directors & Supervisory Board (continued)
EVALUATION REPORT OF THE BOARD OF DIRECTORS
REPORT OF THE BOARD OF DIRECTORS (continued) SOME CHARACTERISTICS IN 2022 THAT AFFECTED THE COMPANY'S BUSINESS
ACTIVITIES OF THE SUBCOMMITTEES OF THE BOARD OF DIRECTORS The world economic situation was complicated: inflation remained at a high level, especially in Europe and the US;
▶ Internal Audit Subcommittee is under the Board of Directors of the Company. The subcommittee is the trend of increasing interest rates, narrowing monetary policy in many countries; Unusual weather changes
organized and operated in accordance with the Company's Internal Audit Regulations. in many continents,... Vietnam's economy was restored, but it took time to shape and regained its position after
2 years of being affected by the Covid-19 pandemic. In particular, the inflation factor was a concern of many
▶ Ms. Nguyen Thi Xuan Lieu - a member of the Board of Directors is the Head of the Internal Audit Committee. businesses and the jobs of many workers have been affected by the staff reduction policy of many businesses,
combined with the backlog effects after Covid-19 leading to Consumers were more cautious in spending.
RESOLUTIONS/DECISIONS OF THE BOARD OF DIRECTORS
Flexible in adjusting business plans to suit each period, KIDO has maximized its internal and external strengths,
No. Resolution No. Date Content bringing many achievements in the past year, specifically:
1 KDC01/2022/NQ-HDQT 02/07/2022
Resolution on the date of the General Meeting of Shareholders to hold the Annual ▶ KIDO is currently the leader in the ice cream business unit in Vietnam with a market share of 44.5% (According
General Meeting of Shareholders in 2022. to the latest data from Euromonitor), of which the Merino brand accounts for 24.2% and the Celano brand
Resolution approving the Internal Audit Regulations and establishing the Internal accounts for 19.2%.
2 KDC02/2022/NQ-HDQT 02/28/2022
Audit Subcommittee under the Board of Directors.
▶ KIDO ranks 2nd in the edible oil business unit in Vietnam with prominent brands such as Tuong An Cooking Oil,
Resolution on approving the agenda of the Annual General Meeting of Shareholders Marvela, Olita, Vio..., market share by ownership and control ratio is about 39% (According to internal data).
3 KDC03/2022/NQ-HDQT 03/16/2022
in 2022.
▶ KIDO is also leading the margarine business unit in Vietnam with a market share of 74.9% (According to data
Resolution on the election to replace the Chairman of the Annual General Meeting of
4 KDC04/2022/NQ-HDQT 03/23/2022
Shareholders in 2022. from Euromonitor, 2022).
5 KDC05/2022/NQ-HDQT 03/28/2022 Resolution on the date of registration of dividend payment in 2021 in cash. ▶ In October 2021, KIDO returned to the bakery business unit with the brand KIDO's Bakery. Currently, fresh cakes
of KIDO's Bakery has rapidly expanded its retail system nationwide.
6 KDC06/2022/NQ-HDQT 06/06/2022 Resolution on approving the plan to sell treasury shares.
▶ In 2022, KIDO has returned to the mooncake business unit with the KIDO's Bakery brand, quickly becoming one
7 KDC07/2022/NQ-HDQT 06/28/2022 Resolution on amending and supplementing the plan to sell treasury shares. of the Top 3 major brands in terms of the business scale.
Resolution on approving contracts and transactions of the Company with internal
8 KDC08/2022/NQ-HDQT 06/28/2022
people and related people. PERFORMANCE OF PRODUCTION AND
BUSINESS TARGETS IN 2022
9 KDC09/2022/NQ-HDQT 06/28/2022 Resolution on equitization of KIDO Frozen Food Co., Ltd.
▶ The targets according to the Resolution of
10 KDC10/2022/NQ-HDQT 07/07/2022 Resolution on selection of the audit company for financial statements in 2022. the Annual General Meeting of Shareholders
11 KDC11/2022/NQ-HDQT 08/02/2022 Resolution on the final date of registration to advance dividend in cash in 2022. in 2022, the results are as follows: net
revenue of KIDO Group reached VND 12,535
Resolution on approving the policy of signing and implementing contracts and billion, completing 89.5% of the year plan,
12 KDC12/2022/NQ-HDQT 08/24/2022 transactions with related parties including subsidiaries, joint ventures and
up 19.4% compared to 2021; Pre-tax profit
associates.
in 2022 reached VND 511 billion, completing
13 KDC13/2022/NQ-HDQT 10/05/2022 Resolution on the establishment of KIDO Long An Co., Ltd. 56.7% of the year's plan.
Resolution on the date of the General Meeting of Shareholders to hold the ▶ The Corporation has ensured jobs and
14 KDC14/2022/NQ-HDQT 11/03/2022
Extraordinary General Meeting of Shareholders in 2022. incomes for employees and contributed to
Resolution on determining criteria and list of employees participating in the program the State budget as well as supporting and
15 KDC15/2022/NQ-HDQT 11/10/2022 to issue shares to employees, principles of determining the number of shares and sharing activities with the social community.
execution time.
▶ The Group's 2022 financial statements have
Resolution on the implementation of the issuance plan, approving the plan to ensure been audited by Ernst & Young Limited with
16 KDC16/2022/NQ-HDQT 11/10/2022
that the issuance meets the regulations on foreign ownership ratio.
an unqualified opinion.
Resolution on approving the proposed plan for the issuance of shares under the
17 KDC17/2022/NQ-HDQT 11/10/2022
ESOP program and the issuance of shares to increase share capital from equity.
Resolution on approving the closing and dissolution of Vibev Food and Beverage LD
18 KDC18/2022/NQ-HDQT 11/30/2022
Co., Ltd.
Resolution on approving the divestment from TTV Trading Investment Joint Stock
19 KDC19/2022/NQ-HDQT 12/16/2022
Company.
IN ECONOMIC CONDITIONS WITH ADVANTAGES AND DISADVANTAGES, THE ABOVE RESULTS ARE THE GREAT
EFFORTS OF THE BOARD OF DIRECTORS, BOARD OF MANAGEMENT AND EMPLOYEES OF THE GROUP.
Resolution on the election to replace the Chairman of the Extraordinary General
20 KDC20/2022/NQ-HDQT 12/20/2022
Meeting of Shareholders in 2022.
REPORT
REPORT OF THE SUPERVISORY BOARD EVALUATION REPORT OF THE SUPERVISORY BOARD
ACTIVITIES OF THE SUPERVISORY BOARD ASSESSMENT OF THE RESULTS OF IMPLEMENTATION OF THE ANNUAL MEETING OF SHAREHOLDERS IN 2022
INFORMATION ABOUT MEMBERS OF THE SUPERVISORY BOARD (“BOS”) AND MEETINGS OF THE CONSOLIDATED BUSINESS PLAN IN 2022
SUPERVISORY BOARD
Number of meet-
No. Items Planned Implemented Implemented/ Planned (%)
ings attended Ownership
No. Member of the BoD Title Appointed Date Voting rate
by the Board of rate (%)
Directors
1 Net Revenue 14,000 12,535 89.5%
1 Nguyen Thi Ngoc Chi Head of Supervisory Board 2/2 06/15/2020 100% 0.00%
2 Profit before tax 900 511 56.7%
Member of Supervisory
2 Luong Quang Hien 2/2 06/15/2020 100% 0.00%
Board
Member of Supervisory
3 Luong My Duyen 2/2 06/15/2020 100% 0.00%
Board
PROFIT DISTRIBUTION PLAN IN 2022

SUPERVISORY ACTIVITIES OF THE SUPERVISORY BOARD TO THE BOARD OF DIRECTORS, BOARD OF
MANAGEMENT AND SHAREHOLDERS
▶ The activities of the Board of Directors are strictly in accordance with the Enterprise Law and the Company's PLANNED IMPLEMENTED
Charter. The Board of Directors organized and maintained regular meetings, then promptly implemented the
resolutions of the Board of Directors for the Board of Management to implement. The Board of Directors submitted to the General
Meeting of Shareholders to approve the expected On April 19th, 2022, the Company paid the
▶ The issues discussed and voted at the meetings of the Board of Directors are based on the Resolution of the dividend rate in 2022 as follows: The expected remaining dividend in cash for 2021, at the rate
General Meeting of Shareholders and are under the authority of the Board of Directors. The discussion and cash dividend in 2022 is 6% of the par value of shares, of 6% (600 VND/share).
voting are consistent with the functions, duties and powers of the Board of Directors in accordance with the equivalent to 600 VND/share.
Enterprise Law and the Company's Charter. On August 19th, 2022, the Company made an
▶ The Board of Directors fully participated in meetings with the Board of Directors. The General Meeting of Shareholders authorizes the advance cash dividend in 2022, at the rate of 6%
Board of Directors to choose an appropriate time to pay (600 VND/share)
dividends in accordance with the law.
COORDINATION OF ACTIVITIES BETWEEN THE SUPERVISORY BOARD FOR THE ACTIVITIES OF THE BOARD OF
DIRECTORS, THE BOARD OF MANAGEMENT AND OTHER MANAGERS
▶ The Board of Directors and the Board of Directors have ▶ Inspect and supervise the issuance of resolutions
made great efforts, regularly directing the Company's and decisions of the Board of Directors and the
SELECTION OF AN INDEPENDENT AUDITOR FOR THE FINANCIAL STATEMENTS IN 2022
employees to minimize management costs, maintain Board of Management.
and stabilize production and business activities.
▶ The activities of the Supervisory Board always have
▶ The Supervisory Board is invited to attend meetings with the active support of the Board of Directors, the Board PLANNED IMPLEMENTED
the Board of Directors and the Board of Management. of General Directors, and other departments. The
activities of the Supervisory Board are independent Selection of one of the four auditing firms below:
▶ The Supervisory Board supervises and inspects the
and do not interfere with the Company's production
management and implementation of business goals of 1. Ernst & Young Vietnam Co., Ltd (E&Y).
and business activities. The relationship in working
the Board of Directors and the Board of Management,
cooperation between the Supervisory Board, the
and examines the legitimacy and rationality of 2. PwC Vietnam Company Limited (PwC).
Board of Directors and the Board of General Directors The Board of Directors has selected Ernst &
business activities during the year according to the
is in accordance with the standards, the Enterprise 3. Deloitte Vietnam Co., Ltd. Young Vietnam Company as the independent
resolutions of the Board of Shareholders.
Law and the Company's Charter. auditor for the Company for the fiscal year 2022.
4. KPMG (Vietnam) Co., Ltd.
CONCLUSION OF THE SUPERVISORY WORK OF THE SUPERVISORY BOARD The General Meeting of Shareholders authorized the
▶ Accounting data has been strictly checked, ensuring accuracy and lawfulness in data recording. Board of Directors to select one of the four companies
on the basis of price offers and service quality.
▶ The Company always complies with the provisions of current laws on information disclosure on the stock market.
▶ The Supervisory Board will continue to accompany and supervise the Company's activities.
REPORT
REPORT OF THE SUPERVISORY BOARD (continued) FINANCIAL STATEMENTS RESULTS IN 2022
EVALUATION REPORT OF THE SUPERVISORY BOARD (continued) The financial indicators have properly reflected the current situation of business operations, continuity and debt
solvency of the Company.
ASSESSMENT OF SUPERVISION OF THE BOARD OF DIRECTORS
IN 2022 - THE BOARD OF DIRECTORS MADE THE FOLLOWING KEY DECISIONS: Financial Ratios FY2022
PLAN RESULT Gross profit margin (%) 18.1%
▶ Resolution on the date of the General Meeting of Shareholders to hold Profit before tax margin (%) 4.1%
the Annual General Meeting of Shareholders in 2022.
▶ Resolution on approving the Internal Audit Regulations and establishing ROE (%) 5.3%
the Internal Audit Subcommittee under the Board of Directors.
▶ Resolution on the date of registration of dividend payment in 2021 in Current ratio (times) 1.29 times
cash.
▶ Resolution on approving the plan to sell treasury shares. Debt-to-total assets ratio (times) 0.5 times
▶ Resolution on equitization of KIDO Frozen Food Co., Ltd.
▶ Resolution on selection of audit company for financial statements in 2022.
▶ Resolution on the final date of registration to advance dividend in cash
in 2022 TRAINING ON CORPORATE GOVERNANCE
▶ The Resolution approved the policy of signing and implementing The organization of the
Training courses on corporate governance that the
contracts and transactions with related parties including subsidiaries, meeting and the issuance of
members of the Board of Directors, members of the
joint ventures and associates. documents of the Board of
Supervisory Board, the Directors (General Director), other
Directors was carried out in
▶ Resolution on the establishment of KIDO Long An Co., Ltd. managers and the Company Secretary participated in
accordance with the law and
accordance with regulations on company governance:
▶ Resolution on determining criteria and list of employees participating in the Company's Charter.
Not available
the program to issue shares to employees. Principles of determining the
number of shares and execution time.
▶ Resolution on the implementation of the issuance plan, approving
the plan to ensure that the issuance meets the regulations on foreign
ownership ratio.
▶ Resolution on approving the proposed plan for the issuance of shares
under the ESOP program and the issuance of shares to increase share
capital from equity.
▶ Resolution on approving the closing and dissolution of Vibev Food and
Beverage LD Co., Ltd.
▶ Resolution on approving the divestment from TTV Trading Investment
Joint Stock Company.
STRONG ENGAGEMENT
SPREADING VALUE
CORPORATE SOCIAL RESPONSIBILITIES
FORTIFIED POSITION ANNUAL REPORT 2022 KIDO GROUP 4 CORPORATE SOCIAL RESPONSIBILITIES 108 109
COMBINED RESPONSIBILITIES TO THE COMMUNITY
ACTIVITIES FOR THE COMMUNITY
AFTER NEARLY 30 YEARS OF ESTABLISHMENT AND DEVELOPMENT, KIDO

HAS BECOME A PRESTIGE BRAND IN THE ESSENTIAL FOOD THAT CUSTOMERS
NATIONWIDE TRUSTED, LOVED AND SUPPORTED. KIDO UNDERSTANDS THAT
TO ACHIEVE THAT SUCCESS, BEYOND THE FOUNDATION OF THE COMPANY
FOUNDATION AND BUSINESS PLAN IS IMPORTANT. THAT IS THE LOVE, SUPPORT
OF CUSTOMERS, PARTNERSHIP WITH DEVELOPMENT ORIENTATION OF THE
GROUP, TRUST AND USE OF THE PRODUCTS AND SERVICES OF THE CUSTOMERS
BY COMPANY'S DEVELOPMENT CORPORATION AND SPECIAL HUMANITY
VALUES OF THE CORPORATE DURING THE SUSTAINABLE DEVELOPMENT OF
KIDO GROUP.
KIDO HAS SUPPORTED
The year of 2022 continued to be a difficult OVER 50 Billion VND

year for the Vietnamese economy after
FOR CHARITY ACTIVITIES THROUGHOUT THE COUNTRY
the Government's efforts to recover
DURING 30 YEARS OF OPERATION
from Covid-19. Along with that was the
impact from the fluctuations of the world
economy causing high inflation, businesses
simultaneously cut employees, making During the return to the moon cake market with in other charitable activities, typically including:
people's lives even more difficult. the brand KIDO's Bakery, the Group, in addition to Cooperating with Nguoi Lao Dong & Thanh
activating the culture in the mid-autumn festival, Nien newspaper to give Tet gifts to difficult
With the spirit of mutual affection and the also organized a series of volunteering activities circumstances; Sponsor "The idea of general
motto "Businesses must be associated at many places such as the Center Nurturing and planning of Ho Chi Minh City" organized by
with social responsibility", in this year, KIDO Sponsoring Children in Go Vap and Tam Binh, Thi Department of Planning - Architecture - Center
Group has continuously deployed and Nghe Center for the Care of Disabled Orphans, for Architectural Research; Accompanying
accompanied agencies and authorities to Phu Quoc Island District, etc. Thereby, KIDO has activities of Ho Chi Minh City Young Entrepreneurs
carry out many activities, volunteer with the donated 6,000 mooncakes to less fortunate Association; In collaboration with the Vietnam
total value given up to now was more than children together with soldiers working on remote Fatherland Front Committee - Ho Chi Minh City
3,5 billion VND. islands, to encourage and spread the spirit in the supports people who are suffering from typhoon
2022’s moon season. Noru in the central region; Support the activities
As one of the voluntary activities of An Sinh Store in District 1 - Ho Chi Minh City;
accompanied by the Group for many years, Under the call of the Vietnam Fatherland Front Accompanying the Vietnam Children's Fund;
in 2022, KIDO continued to sponsor more Committee, KIDO Group continues to accompany Giving gifts to disadvantaged people in the
than 1 billion VND for the program of eye the program "Mini Supermarket 0 VND" by provinces of Dong Thap, Dong Nai, Gia Lai,...
examination, surgery and free medicine supporting essential edible oil products with a
distribution for children, patients with total value of nearly 500,000,000 VND. Through Over 30 years of development, up to now, KIDO has
cataracts organized by The Sponsoring humane activities, KIDO hopes to help those in supported more than 50 billion VND for charity
Association for Poor Patients Ho Chi Minh difficult circumstances welcome a warm and full activities all over the country. Through meaningful
City, implemented in Ho Chi Minh City and Tet season with their families and loved ones. volunteer activities, KIDO Group wishes to join
Lam Dong Province in April and June 2022. This is the second year that KIDO Group has hands with people to overcome current difficulties
Thereby, the Group has helped 900 poor accompanied this meaningful program. and maintain faith in life. This is also one of the
patients find the light again. At the same missions that KIDO has been pursuing throughout
time, KIDO also gave gifts as the mental In addition to the above typical activities, the its years of operation.
encouragement to the patients participating Group also accompanies other units/associations
in the program.
PUBLIC RECOGNITION KIDO - TOP 50 SUSTAINABLE ENTERPRISES IN 2022
On August 10, 2022, at the announcement event of TOP 50

Sustainable Development Enterprises in 2022 (TOP 50 Corporate
Sustainability Awards - CSA) organized by Nhip Cau Dau Tu
COMMITMENT TO SUSTAINABLE DEVELOPMENT ASSOCIATED WITH Magazine, KIDO Group was honored as the best enterprise in
COMMUNITY RESPONSIBILITIES OF BUSINESS, KIDO AND MEMBER Vietnam for the sustainable development of listed companies.
COMPANIES, ITS BRANDS HAVE CONTINUEDLY RECEIVED HIGH EVALUATION
FROM NATIONAL ASSOCIATIONS IN 2022. Presenting in the Top 50 CSA 2022, KIDO Group has been highly appreciated based on the criteria of business/production
index, sustainable development strategy, corporate governance, environmental protection and social responsibility.
With KIDO, many years ago, the Group considered that the implementation of social responsibility should be associated
with business goals, playing an important role in the long-term development plan. Every business decision has a
certain impact on society, the environment and vice versa.
TUONG AN IS IN THE TOP 10 MOST CHOSEN BRANDS IN URBAN AREAS IN 2022
KIDO - TOP 25 LEADING F&B COMPANY BRANDS IN 2022

Rank- Urban Areas CRP
Rural
CRP According to the latest report “Brand Footprint 2022” published by
ing 4 cities (mil point) (mil point) Kantar on July 4, 2022 (Brand Footprint Report in Vietnam 2022),
1 Hao Hao 17.0 Nam Ngu 129.7 Tuong An Brand is proud to be for the first time in the Top 10 the This is the seventh year that Forbes Vietnam calculates the brand value of companies
25
most popular in urban areas in 2022. In which, Tuong An ranked
FORBES VIỆT NAM
2 Nam Ngu 14.4 3 Mien 95.8 and the second year that the calculation of company brands is divided by sectors.
8/10. This year's Top 10 list in order from highest to lowest includes:
3 Chinsu 12.9 Hao Hao 78.4
23
Hao Hao, Nam Ngu, Chinsu, Ajinomoto, Bien Hoa, Cholimex, Maggi, Through analytical indicators, Forbes Vietnam gives KIDO Group a brand valuation
4 Ajinomoto 10.5 Chinsu 76.0 Tuong An, Hai Chau, Simply. of 38.5 million USD when KIDO is currently leading the ice cream business unit in
5 Bien Hoa 9.4 Gau Do 66.2
Vietnam with 44.5% market share and owns 02 famous ice cream brands are Merino
6 Cholimex 9.2 Kokomi 64.3 About the success factor of Tuong An, Kanta commented: "Tuong
T H Ư Ơ N G H IỆ U & Celano. At the same time, KIDO Group is also the leader in the margarine business
C Ô N G T YẪFN&ĐBẦ U
An - A bright star in the edible oil business unit with a historic unit in Vietnam with 74.9% market share (According to Euromonitor, 2022), ranked
7 Maggi 9.1 Ajinomoto 59.6
transformation when it rose 6 places and entered the 8th position
8 Tuong An 7.5 Simply 54.4 in the table in Brand Footprint in 2022, Top packaged food brands D second in the edible oil business unit with a market share of 39% (According to
internal data).
9 Hai Chau 7.3 Tam Thai Tu 42.4 in Urban (4 major cities)”. Kanta also believes that this growth Năm thứ bảy Forbes Việt Nam lập danh sách thương hiệu
driver comes from the strategy of diversifying the product portfolio

và năm thứ hai việc tính toán thương hiệu công ty phân chia theo lĩnh vực.
Currently, KIDO owns 02 Frozen Products factories in Bac Ninh and Cu Chi; 04
Danh sách năm 2022 tính toán với ngành thực phẩm và đồ uống.
10 Simply 7.3 Oishi 42.0 Việc xác định dựa trên số liệu tài chính nên một số công ty tư nhân lớn
không hợp tác cung cấp số liệu sẽ không có tên trong danh sách.
to meet the needs of consumers and actively reaching consumers Edible Oil factories in Nghe An, Ba Ria - Vung Tau, Nha Be... with a large capacity.
Thực hiện: GIANG THANH, KHỔNG LOAN, MINH TÂM, TRỌNG NAM & TẠ HỒNG PHÚC
THÁNG 8.2022 F O R B E S .V N
on digital media channels across the country. Tuong An is also the fastest growing essential food brand in Urban Total capacity supplied to the market includes: 21 million liters of yogurt/year; 24
areas with impressive CRP growth, up 29% yoy. million liters of ice cream/year; more than 400,000 tons of finished oil/year at 02
Tuong An Oil Plants and KIDO Nha Be Oil Factory (formerly Golden Hope Nha Be); annual capacity at Vocarimex Oil
Thus, after many years of conquering rural areas, Tuong An for the first time recorded its name in the list of Top 10 Factory reaches 130,000 tons of refined oil, 120,000 tons of finished oil and 4,000 tons of sesame oil. In addition to the
most selected packaged food brands in 2022 in urban areas (four major cities) advantages brought by the subsidiary, KIDO also owns a warehouse system of nearly 8,000 m2; 22,300 m3 liquid tank
and 04 wharves at Nha Be Port with capacity: 20,000 DWT of cargo, 5,000 tons of oil.
TOP 50 MOST PROFITABLE ENTERPRISES

KIDO WAS HONORED WITH TOP 50 PRESTIGIOUS & EFFECTIVE PUBLIC COMPANIES IN 2022 IN VIETNAM IN 2022
Gaining impressive revenue and profit, KIDO Group continues

On June 3, 2022, Vietnam Report Joint Stock Company to enter the list of Top 50 Most Profitable Enterprises in
(Vietnam Report) officially announced the Top 50 Vietnam in 2022. The main ranking criteria of the Top 50
prestigious and effective public companies in 2022 (VIX50). include: Profit before tax; Enterprises for 3 consecutive
years named in the Top 500 Most Profitable Enterprises
This is an objective, scientific and independent research result of Vietnam Report, which is officially published in in Vietnam; Enterprises achieve high and stable business
domestic and foreign media. To implement the list of Top 50 Prestigious and Effective Public Companies in 2022 efficiency in the period of 2021-2022.
(VIX50), Vietnam Report has evaluated public companies including both listed and unlisted through two stages.
Nearly 30 years of operation, KIDO Group has always been dedicated and constantly developing and expanding with
After 2 rounds of rigorous selection, KIDO has excellently entered the list of Top 50 prestigious & effective public product categories in the field of essential foods towards the mission of adding "Flavor Your Life". Continuing the
companies in 2022 along with other enterprises such as Hoa Phat Group, Masan Group, The Mobile World, Vietcombank, journey of sustainable development, KIDO Group not only adjusts its adaptation plan in the post-Covid-19 period,
Techcombank, ACB, Vietnam Dairy Products Vinamilk, etc. focusing on comprehensive digital technology application, and at the same time insists on its core value: "Innovation
- Proactive - Responsible - Win -Win - Pioneer". In addition, KIDO Group also has appropriate strategies to prepare for
a new journey towards an expanded development vision not only in Vietnam but also in other countries in the region.
KIDO RECEIVED A CERTIFICATE OF MERIT FROM
PUBLIC RECOGNITION (continued)

THE CHAIRMAN OF HO CHI MINH CITY PEOPLE'S
COMMITTEE FOR HIS EXCELLENT ACHIEVEMENTS IN
COMPLETING TASKS CONTINUOUSLY FOR MANY YEARS
In the framework of the event honoring Typical enterprises

and entrepreneurs in Ho Chi Minh City in 2022, KIDO Group
was also named to receive a certificate of merit from the
Chairman of Ho Chi Minh City People's Committee for
outstanding achievements in completing tasks continuously
for many years on the occasion of Vietnamese Entrepreneur's
Day (October 13, 2022).
TUONG AN & KIDO FOODS WERE HONORED IN TOP 10 PRESTIGIOUS KIDO WAS HONORED IN THE TOP 50 MOST
FOOD COMPANIES IN 2022 EFFECTIVE COMPANIES IN VIETNAM IN 2022
At the Ceremony of Honoring the Top 50 Most Effective

Tuong An was honored continuously in the prestigious rankings: Top 10 prestigious
Companies in Vietnam for a decade, KIDO Group was named
food companies in 2022, packaged foods, spices, edible oil, etc. Thanks to the
in the category of Top 50 Most Effective Companies in
thorough exploitation of the system Distributing 450,000 points of sale and being
Vietnam. This is a special event honoring many companies
flexible in applying digital technology, boosting sales from the Group, Tuong An's
with larger scale, higher capitalization value, strong growth
retail segment continues to grow strongly in revenue in products in the mid-end and
rate, and worthy of pride for the country.
high-end segments. At the same time, Tuong An's market share has also increased,
ranking second in the edible oil business unit in Vietnam. In the margarine business
unit, Tuong An Margarine has been known as the market leader with 74.9% market
share, which is different from other competitors. All of the above factors become a
KIDO GROUP FOR THE 8TH TIME CONTINUOUSLY HAS
synergistic force to help Tuong An Brand increasingly make a strong mark in the hearts of consumers, continuing the
PRODUCTS WITH NATIONAL BRAND
goal and mission of "Filling in Vietnamese kitchens".
During the announcement ceremony of enterprises with national branded products
Keeping the leading position in the ice cream business unit in Vietnam (44.5% market share), with prestige and in Hanoi on November 2, 2022, KIDO was one of 172 enterprises honored with
position built up after many years of conquering the market, KIDO Foods continues to be the best option to be honored "National Brand in 2022". This is also the 8th time continuously that KIDO Group
in the Top 10 prestigious food companies in 2022, group of dairy and dairy foods. This noble title will continue to be has had products recognized as national brands, since the program was officially
the premise for the Company to constantly develop new products that are in line with modern trends, expand market initiated in 2008.
share, and continue to maintain its position as the "king" of the ice cream business unit in Vietnam.
Accordingly, KIDO's products were honored as National Brands including: Tuong An
Cooking Oil and Margarine, Celano Premium Ice Cream and Merino Premium Ice Cream.
KIDO WON THE " TYPICAL ENTERPRISE IN HO CHI

MINH CITY" AWARD IN 2022
KIDO GROUP CONTINUES TO BE HONORED WITH
THE GOLDEN BRAND HO CHI MINH CITY IN 2022
Celebrating Vietnam Entrepreneurs Day on October 13, 2022,
Ho Chi Minh City Business Association held a ceremony
Within the framework of the 3rd "Golden Brand" Ho Chi Minh City Award Ceremony
to honor "Typical enterprises and entrepreneurs in Ho Chi
in 2022, KIDO Group continues to be named at this noble award. This is an annual
Minh City in 2022". This is a title recognized by the People's
event organized by the Department of Industry and Trade of Ho Chi Minh City and
Committee of Ho Chi Minh City, held every 2 years. This year,
Saigon Economic Review jointly implemented to honor businesses with excellent
the People's Committee of Ho Chi Minh City recognized and
results in building strong and impressive product and service brands, associated
awarded titles to 98 businesses and 98 businessmen of all
with the brand of Ho Chi Minh City.
economic sectors operating in the city.
Actively in production, actively contributing to the economy - society through steady development as well as actively Ho Chi Minh City authorities hopes that KIDO Group in particular and the 45 honored
paying taxes to the state, along with meaningful and humane social activities, KIDO Group has continued to be named enterprises in general will continue to promote further their brand values. Thereby,
in the prestigious award "Typical enterprise in Ho Chi Minh City in 2022". the business community helps the city elevate its brand in the international market
and together with the city continues to maintain the core goals of the program,
With a vision of sustainable development and step by step efforts to build a leading brand in Vietnam as well as which is to become a "guarantee" award for the enterprise's reputation in domestic and international markets, is a
reaching out to the international market. KIDO Group is constantly building and perfecting the safe food supply chain, premise for strong investment in the future; build pride about local products and services; improve the position of Ho
carrying out the mission of providing high quality and nutritious products, contributing to stabilizing food market Chi Minh City's economic in the whole country.
prices and ensuring food safety and hygiene for the community.
ABSOLUTE CONFIDENCE
REACHING NEW HEIGHTS
CONSOLIDATED FINANCIAL REPORT
FORTIFIED POSITION ANNUAL REPORT 2022 KIDO GROUP 5 CONSOLIDATED FINANCIAL REPORT 116 117
GENERAL INFORMATION
THE COMPANY MANAGEMENT
Kido Group Corporation (“the Company”) is a shareholding company incorporated under the Law on Enterprise Members of the management during the year and at the date of this report are:
of Vietnam pursuant to the Business Registration Certificate (“BRC”) No. 4103001184 issued by the Department
of Planning and Investment (“DPI”) of Ho Chi Minh City on 6 September 2002 and the subsequent amended
BRCs. Mr Tran Le Nguyen General Director
Ms Vuong Buu Linh Deputy General Director

The Company’s shares were listed on the Ho Chi Minh Stock Exchange in accordance with the License No. 39/
UBCK-GPNY issued by the State Securities Commission on 18 November 2005. Ms Vuong Ngoc Xiem Deputy General Director
The current principal activities of the Company are to sell and purchase food products and to manage investments Ms Nguyen Thi Xuan Lieu Deputy General Director
in subsidiaries.
Mr Tran Quoc Nguyen Deputy General Director
The Company’s registered head office is located at No. 138 - 142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Mr Wang Ching Hua Deputy General Director
Minh City, Vietnam.
Mr Mai Xuan Tram Deputy General Director
BOARD OF DIRECTORS
Mr Bui Thanh Tung Deputy General Director
Members of the Board of Directors during the year and at the date of this report are:
Mr Tran Tien Hoang Deputy General Director
Mr Tran Kim Thanh Chairman Mr Ma Thanh Danh Deputy General Director
Mr Tran Le Nguyen Vice Chairman LEGAL REPRESENTATIVE
Ms Vuong Buu Linh Member The legal representative of the Company during the year and at the date of this report is Mr Tran Kim Thanh.
Ms Vuong Ngoc Xiem Member
Mr Tran Le Nguyen is authorized by Mr Tran Kim Thanh to sign the accompanying consolidated financial
Ms Nguyen Thi Xuan Lieu Member statements for the year ended 31 December 2022.
Mr Tran Quoc Nguyen Member

AUDITORS
Mr Nguyen Van Thuan Member
Mr Nguyen Gia Huy Chuong Member The auditor of the Company is Ernst & Young Vietnam Limited.
Mr Nguyen Duc Tri Member
BOARD OF SUPERVISION
Members of the Board of Supervision during the year and at the date of this report are:
Ms Nguyen Thi Ngoc Chi Head
Mr Luong Quang Hien Member
Ms Luong My Duyen Member

REPORT OF MANAGEMENT
Management of Kido Group Corporation (“the Company”) is pleased to present its report and the consolidated STATEMENT BY MANAGEMENT
financial statements of the Company and its subsidiaries (“the Group”) for the year ended 31 December 2022.
Management does hereby state that, in its opinion, the accompanying consolidated financial statements give
MANAGEMENT’S RESPONSIBILITY IN RESPECT OF THE CONSOLIDATED FINANCIAL STATEMENTS a true and fair view of the consolidated financial position of the Group as at 31 December 2022, and of the
consolidated results of its operations and its consolidated cash flows for the year then ended in accordance with
Management is responsible for the consolidated financial statements of each financial year which give a true Vietnamese Accounting Standards, Vietnamese Enterprise Accounting System and the statutory requirements
and fair view of the consolidated financial position of the Group and of the consolidated results of its operations relevant to the preparation and presentation of the consolidated financial statements.
and its consolidated cash flows for the year. In preparing those consolidated financial statements, management
is required to:
For and on behalf of management:
» select suitable accounting policies and then apply them consistently;
» make judgments and estimates that are reasonable and prudent;
» state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the consolidated financial statements; and
» prepare the consolidated financial statements on the going concern basis unless it is inappropriate to
presume that the Group will continue its business.
Tran Le Nguyen
Management is responsible for ensuring that proper accounting records are kept which disclose, with reasonable General Director
accuracy at any time, the consolidated financial position of the Group and to ensure that the accounting records
comply with the applied accounting system. It is also responsible for safeguarding the assets of the Group and Ho Chi Minh City, Vietnam
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 31 March 2023
Management confirmed that it has complied with the above requirements in preparing the accompanying
consolidated financial statements.
Reference: 0011611908/22988308/HN
INDEPENDENT AUDITOR’S REPORT

TO: THE SHAREHOLDERS OF KIDO GROUP CORPORATION OPINION
We have audited the accompanying consolidated financial statements of Kido Group Corporation (“the In our opinion, the consolidated financial statements give a true and fair view, in all material respects, of the
Company”) and its subsidiaries (collectively referred to as “the Group”), as prepared on 31 March 2023 and set out consolidated financial position of the Group as at 31 December 2022, and of the consolidated results of its
on pages 116 to 167, which comprise the consolidated balance sheet as at 31 December 2022, the consolidated operations and its consolidated cash flows for the year then ended in accordance with Vietnamese Accounting
income statement and the consolidated cash flow statement for the year then ended and the notes thereto. Standards, Vietnamese Enterprise Accounting System and the statutory requirements relevant to the preparation
and presentation of the consolidated financial statements.
MANAGEMENT'S RESPONSIBILITY
The Company’s management is responsible for the preparation and fair presentation of the Group’s consolidated ERNST & YOUNG VIETNAM LIMITED
financial statements in accordance with Vietnamese Accounting Standards, Vietnamese Enterprise Accounting
System and the statutory requirements relevant to the preparation and presentation of the consolidated financial
statements, and for such internal control as management determines is necessary to enable the preparation and
presentation of the consolidated financial statements that are free from material misstatement, whether due to
fraud or error.
AUDITORS’ RESPONSIBILITY
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We
conducted our audit in accordance with Vietnamese Standards on Auditing. Those standards require that we Duong Le Anthony Duong Phuc Kien
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether Deputy General Director Auditor
the consolidated financial statements are free from material misstatement. Audit Practicing Registration Certificate Audit Practicing Registration Certificate
No. 2223-2023-004-1 No. 4613-2023-004-1
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
consolidated financial statements. The procedures selected depend on the auditors’ judgment, including the Ho Chi Minh City, Vietnam
assessment of the risks of material misstatement of the consolidated financial statements, whether due to
fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Group's 31 March 2023
preparation and fair presentation of the consolidated financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of the Group's internal control. An audit also includes evaluating the appropriateness of accounting policies
used and the reasonableness of accounting estimates made by management, as well as evaluating the overall
presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
CONSOLIDATED BALANCE SHEET B01-DN/HN

as at 31 December 2022
VND VND
Code ASSETS Notes Ending balance Beginning balance Code ASSETS Notes Ending balance Beginning balance
100 A. CURRENT ASSETS 6,980,387,823,046 7,013,592,235,348 200 B. NON-CURRENT ASSETS 7,024,404,855,817 7,059,113,322,585
110 I. Cash and cash equivalents 5 1,100,151,822,205 1,281,295,490,335 210 I. Long-term receivables 9 42,708,288,926 64,433,132,352
212 1. Long-term advance to supplier 10,843,153,926 12,025,157,974

111 1. Cash 1,048,127,930,953 1,108,748,490,335
215 2. Long-term loan receivables 30,000,000,000 -
112 2. Cash equivalents 52,023,891,252 172,547,000,000
216 3. Other long-term receivables 1,865,135,000 52,407,974,378
120 II. Short-term investments 522,771,780,578 481,213,039,652
220 II. Fixed assets 2,627,954,489,677 2,540,831,124,748
121 1. Held-for-trading securities 401,120,064 401,120,064 221 1. Tangible fixed assets 10 929,293,158,601 746,069,680,722
2. Provision for diminution in value of held-for trading 222 Cost 2,579,537,008,222 2,298,990,718,719
122 (1,503,829) (299,590)
securities
223 Accumulated depreciation (1,650,243,849,621) (1,552,921,037,997)
123 3. Held-to-maturity investments 14.1 522,372,164,343 480,812,219,178
227 2. Intangible assets 11 1,698,661,331,076 1,794,761,444,026
130 III. Current accounts receivable 6 2,948,739,786,819 2,552,304,855,441
228 Cost 2,346,871,714,035 2,338,525,283,215
131 1. Short-term trade receivables 509,552,788,711 534,418,458,450 229 Accumulated amortization (648,210,382,959) (543,763,839,189)
132 2. Short-term advances to suppliers 437,926,095,522 82,808,834,331 230 III. Investment properties 12 4,408,541,182 4,600,922,314
135 3. Short-term loan receivables 258,000,000,000 - 231 1. Cost 11,797,057,729 11,797,057,729
232 2. Accumulated depreciation (7,388,516,547) (7,196,135,415)

136 4. Other short-term receivables 1,743,447,255,952 1,936,400,703,695
240 IV. Long-term asset in progress 74,959,353,181 167,738,466,872
137 5. Provision for doubtful short-term receivables (839,058,965) (2,039,058,965)
242 1. Construction in progress 13 74,959,353,181 167,738,466,872
139 6. Shortage of assets waiting for resolution 652,705,599 715,917,930
250 V. Long-term investments 3,975,458,431,647 3,953,358,790,928
140 IV. Inventories 7 2,212,305,861,196 2,494,656,323,857
1. Investments in associates and
252 14.2 3,969,088,431,647 3,927,709,623,454
jointly controlled entities
141 1. Inventories 2,218,599,258,974 2,500,004,641,484
253 2. Investment in another entity - 19,279,167,474
149 2. Provision for obsolete inventories (6,293,397,778) (5,348,317,627)
255 3. Held-to-maturity investments 14.1 6,370,000,000 6,370,000,000
150 V. Other current assets 196,418,572,248 204,122,526,063
260 VI. Other long-term assets 298,915,751,204 328,150,885,371
151 1. Short-term prepaid expenses 8 23,673,597,175 21,585,105,666 261 1. Long-term prepaid expenses 8 78,819,525,112 80,791,966,461
152 2. Value-added tax deductible 161,162,564,871 160,465,716,904 262 2. Deferred tax assets 30.3 76,466,105,361 73,030,005,526
153 3. Tax and other receivables from the State 17 11,582,410,202 22,071,703,493 269 3. Goodwill 4 143,630,120,731 174,328,913,384
270 TOTAL ASSETS 14,004,792,678,863 14,072,705,557,933

CONSOLIDATED BALANCE SHEET B01-DN/HN CONSOLIDATED INCOME STATEMENT B02-DN/HN

as at 31 December 2022 (continued) for the year ended 31 December 2022
VND VND
Code ASSETS Notes Ending balance Beginning balance Code ITEMS Notes Current year Previous year
300 C. LIABILITIES 6,952,065,052,069 7,178,062,904,992 01 1. Revenue from sale of goods and rendering of services 23.1 12,787,155,345,809 10,675,274,452,835
310 I. Current liabilities 5,427,179,815,958 5,397,243,052,107 02 2. Deductions 23.1 (251,971,860,773) (178,409,982,077)
311 1. Short-term trade payables 15 548,948,813,688 779,148,963,652 10 3. Net revenue from sale of goods and rendering of services 23.1 12,535,183,485,036 10,496,864,470,758
312 2. Short-term advances from customers 16 25,435,506,047 86,793,149,476
11 4. Cost of goods sold and services rendered 24 (10,261,577,092,648) (8,445,849,542,191)
313 3. Statutory obligations 17 76,055,005,885 89,381,013,819
314 4. Payables to employees 12,289,507,316 39,587,955,053 20 5. Gross profit from sale of goods and rendering of services 2,273,606,392,388 2,051,014,928,567
315 5. Short-term accrued expenses 18 342,604,859,020 390,040,662,006 21 6. Finance income 23.2 249,972,853,284 159,919,428,645
318 6. Short-term unearned revenues 187,945,590 187,945,590 22 7. Finance expenses 25 (273,960,693,454) (193,571,933,683)
319 7. Other short-term payables 19 107,012,447,591 403,472,718,854 23 In which: Interest expense (232,943,464,615) (177,888,774,790)
320 8. Short-term loans 20 4,168,303,495,655 3,501,317,726,244
24 8. Shares of profit of joint ventures and associates 14.3 104,078,863,561 110,470,724,344
322 9. Bonus and welfare fund 21 146,342,235,166 107,312,917,413
330 II. Non-current liabilities 1,524,885,236,111 1,780,819,852,885 25 9. Selling expenses 26 (1,446,024,851,216) (1,196,590,673,681)
337 1. Other long-term liabilities 13,989,284,515 18,499,124,098 26 10. General and administrative expenses 27 (409,162,881,014) (242,722,786,530)
338 2. Long-term loans 20 751,915,330,417 997,575,613,014 30 11. Operating profit 498,509,683,549 688,519,687,662
341 3. Deferred tax liabilities 30.3 721,531,903,453 728,047,184,290 31 12. Other income 28 32,302,372,994 5,243,138,141
342 4. Long-term provisions 37,448,717,726 36,697,931,483
32 13. Other expenses 28 (20,213,663,267) (5,933,368,627)
400 D. OWNERS’ EQUITY 7,052,727,626,794 6,894,642,652,941
410 I. Capital 7,052,727,626,794 6,894,642,652,941 40 14. Other profit (loss) 12,088,709,727 (690,230,486)
411 1. Share capital 22.1 2,797,413,560,000 2,797,413,560,000 50 15. Accounting profit before tax 510,598,393,276 687,829,457,176
411a - Shares with voting rights 2,797,413,560,000 2,797,413,560,000 51 16. Current income tax expense 30.1 (145,894,259,653) (129,604,774,860)
412 2. Share premium 22.1 3,107,169,658,330 2,970,918,858,330 52 17. Deferred tax income 30.1 9,951,380,672 95,065,891,202
414 3. Other owners’ capital 22.1 104,000,000,000 104,000,000,000
60 18. Net profit after tax 374,655,514,295 653,290,573,518
415 4. Treasury shares 22.1 (865,273,143,268) (1,080,464,343,268)
19. Net profit after tax attributable to shareholders of the
418 5. Investment and development fund 22.1 74,811,345,990 74,811,345,990 61 22.4 362,600,497,164 590,401,869,878
parent company
420 6. Other funds belonging to owners’ equity 22.1 15,909,752,661 15,909,752,661
421 7. Undistributed earnings 22.1 1,619,449,221,639 1,790,232,958,705 62 20. Net profit after tax attributable to non-controlling interests 22.5 12,055,017,131 62,888,703,640
421a - Undistributed earnings by the end of prior year 1,256,848,724,475 1,199,831,088,827 70 21. Basic earnings per share 22.4 1,572 2,482
421b - Net profit of current year 362,600,497,164 590,401,869,878 71 22. Diluted earnings per share 22.4 1,572 2,482
429 8. Non-controlling interests 22.5 199,247,231,442 221,820,520,523
440 TOTAL LIABILITIES AND OWNERS’ EQUITY 14,004,792,678,863 14,072,705,557,933
Tran Minh Nguyet Nguyen Thi Oanh Tran Le Nguyen

Preparer Chief Accountant General Director
Tran Minh Nguyet Nguyen Thi Oanh Tran Le Nguyen Ho Chi Minh City, Vietnam
31 March 2023
Ho Chi Minh City, Vietnam
31 March 2023
CONSOLIDATED CASH FLOW STATEMENT B03-DN/HN

for the year ended 31 December 2022
VND VND
Code ITEMS Notes Current year Previous year Code ITEMS Notes Current year Previous year
I. CASH FLOWS FROM OPERATING ACTIVITIES III. CASH FLOWS FROM FINANCING ACTIVITIES
01 Accounting profit before tax 510,598,393,276 687,829,457,176 31 Share issues 402,382,020,000 (500,000,000)
Adjustments for:
33 Borrowings received 20 16,019,761,667,948 16,070,574,209,289
02 Depreciation and amortization 267,355,732,940 267,241,664,400
34 Borrowings repaid 20 (15,594,131,191,026) (14,114,108,532,288)
03 Provisions (reversal of provision) 3,450,071,607 (133,453,205,158)
Foreign exchange differences arising from revaluation 36 Dividends paid to shareholders of the parent company 22.3 (308,926,127,980) (335,265,451,270)
04 of monetary accounts denominated in foreign (7,152,841,117) 4,266,191,655
Dividends paid to non-controlling interests (19,699,109,635) (177,703,363,165)
currency
05 Profits from investing activities (303,944,432,008) (234,557,780,459) 40 Net cash flows from financing activities 499,387,259,307 1,442,996,862,566
06 Interest expense and allocation of bond issuance cost 235,491,464,611 180,436,774,787 50 Net increase in cash and cash equivalents (180,877,073,821) 179,335,674,986
08 Operating profit before changes in working capital 705,798,389,309 771,763,102,401 60 Cash and cash equivalents at the beginning of the year 5 1,281,295,490,335 1,102,117,058,476
09 Increase in receivables (274,998,829,458) (63,107,950,453)
61 Impact of exchange rate fluctuation (266,594,309) (157,243,127)
10 Decrease (increase) in inventories 281,405,382,510 (1,286,120,175,740)
70 Cash and cash equivalents at the end of the year 5 1,100,151,822,205 1,281,295,490,335
11 (Decrease) increase in payables (698,205,865,309) 758,449,737,032
12 Increase in prepaid expenses (3,128,591,780) (6,894,930,385)
14 Interest paid (226,103,991,145) (136,030,075,500)
15 Corporate income tax paid 17 (148,402,543,007) (53,236,930,298)
17 Other cash outflows for operating activities (16,964,538,784) (5,577,796,793)
20 Net cash flows used in operating activities (380,600,587,664) (20,755,019,736)
II. CASH FLOWS FROM INVESTING ACTIVITIES
21 Purchase and construction of fixed assets (258,417,452,181) (227,054,105,400)
22 Proceeds from disposals of fixed assets 10,689,257,162 3,344,291,073
23 Payments for term bank deposits (780,759,945,165) (405,812,219,178) Preparer Chief Accountant General Director
24 Collections from term bank deposits 451,200,000,000 642,000,000,000
25 Payments for investments in other entities (267,834,215,020) (1,496,563,965,688)
31 March 2023
26 Proceeds from sale of investments in other entities 126,878,535,166 5,000,000,000
Collection of advances for investments in other
300,000,000,000 -
entities
27 Dividends and interest received 118,580,074,574 236,179,831,349
30 Net cash flows used in investing activities (299,663,745,464) (1,242,906,167,844)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS B09-DN/HN

as at 31 December 2022 and for the year then ended
1. CORPORATE INFORMATION 1. CORPORATE INFORMATION (CONTINUED)
The Group consists of Kido Group Corporation (“KDC” or “the Company”) and its subsidiaries, associates Associates and jointly controlled entities
and jointly controlled entities as follows:
Name of subsidiaries Business Status Ownership Voting right
Company % %
Kido Group Corporation is a shareholding company incorporated under the Law on Enterprise of Vietnam Manufacturing and trading all
Cai Lan Oils & Fats Industries Co., Ltd.
pursuant to the Business Registration Certificate (“BRC”) No. 4103001184 issued by the Department of Planning kinds of vegetable oils and fats, all In operation 24.00 24.00
(“Calofic”)
kinds of oilseeds and grains
and Investment (“DPI”) of Ho Chi Minh City on 6 September 2002 and the subsequent amended BRCs.
LG Vina Cosmetics Company Limited Manufacturing and trading
In operation 40.00 40.00
The Company’s shares were listed on the Ho Chi Minh Stock Exchange in accordance with the License No. (“LG Vina”) cosmetics and household products
39/UBCK-GPNY issued by the State Securities Commission on 18 November 2005. Vibev Food and Beverage Joint Manufacturing and trading food
In operation 49.00 49.00
Venture Company Limited (“Vibev”) and beverage products
The current principal activities of the Group are to wholesale food products; produce and trade all kinds of
Lavenue Investment Corporation Operating in the real estate
food and drink products such as ice cream, milk and other dairy products; manufacture, trade and export In operation 50.00 50.00
(“Lavenue”) industry
the products made from oil, vegetable fats, oils from seeds, coconut quartz; manufacturing and trading all
kinds of packaging; and exporting of raw materials for production of vegetable, oil processing industry; and Dabaco Food Processing Joint Stock
Processing and preserving meat
to operate in the real estate industry. Company In operation 50.00 50.00
and meat products
(“Dabaco Food”)
The Company’s registered head office is located at No. 138 - 142 Hai Ba Trung, Da Kao Ward, District 1,
Ho Chi Minh City, Vietnam. 2. BASIS OF PREPARATION
The number of the Group’s employees as at 31 December 2022 was 3,961 (31 December 2021: 3,857). 2.1 Applied accounting standards and system
Subsidiaries The consolidated financial statements of the Group, expressed in Vietnam Dong (“VND”), are prepared in
accordance with Vietnamese Enterprise Accounting System and Vietnamese Accounting Standards issued
by the Ministry of Finance as per the:
Name of subsidiaries Business Status Ownership Voting right
% %
» Decision No. 149/2001/QD-BTC dated 31 December 2001 on the Issuance and Promulgation of Four
Vietnam Vegetable Oils Vietnamese Accounting Standards (Series 1);
Manufacturing and trading all kinds of
Industry Corporation In operation 87.29 87.29
animal and vegetable oils and fats » Decision No. 165/2002/QD-BTC dated 31 December 2002 on the Issuance and Promulgation of Six
(“Vocarimex”) (*)
Vietnamese Accounting Standards (Series 2);
Manufacturing and trading, exporting all
Tuong An Vegetable Oil Joint » Decision No. 234/2003/QD-BTC dated 30 December 2003 on the Issuance and Promulgation of Six
kinds of vegetable and animal oils and In operation 95.46 95.41
Stock Company (“TAC”) (*)(**)
fats, oil seeds Vietnamese Accounting Standards (Series 3);
Manufacturing and trading all kinds of » Decision No. 12/2005/QD-BTC dated 15 February 2005 on the Issuance and Promulgation of Six
Kido Frozen Foods JSC ("KDF") food and drink products such as ice In operation 73.03 100 Vietnamese Accounting Standards (Series 4); and
cream, milk and other dairy products
» Decision No. 100/2005/QD-BTC dated 28 December 2005 on the Issuance and Promulgation of Four
Kido - Nha Be Manufacturing and trading all kinds of Vietnamese Accounting Standards (Series 5).
In operation 93.77 100
Company Limited (“KNB”) animal and vegetable oils and fats
Kido Food One Member Wholesale food products and provide
Suspended 100 100 Accordingly, the accompanying consolidated financial statements, including their utilization are not
Company Limited (“KIDOFOOD”) other food services
designed for those who are not informed about Vietnam’s accounting principles, procedures and practices
Kido Trading and Services Wholesale food products and and furthermore are not intended to present the consolidated financial position and consolidated results of
In operation 100 100
Company Limited (“KTS”) provide other food services operations and consolidated cash flows in accordance with accounting principles and practices generally
accepted in countries other than Vietnam.
(*) The Group used 92,118,000 shares of Vocarimex and 17,000,000 shares of TAC to place as collateral for
its domestic straight bonds. Details of such bonds are presented at Note 20.2. 2.2 Applied accounting documentation system
(**) The Group acquired an additional 3,502,294 ordinary share of TAC amounting to VND 239,795,627,020, The Group’s applied accounting documentation system is the General Journal system.
equivalents 10.34% interest in the voting shares of TAC, with total cash consideration of VND 239,795,627,020.
Accordingly, the Company has increased its ownership interest at TAC from 85.7% to 95.41%.

as at 31 December 2022 and for the year then ended (continued)
2. BASIS OF PREPARATION (CONTINUED) 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2.3 Fiscal year 3.2 Inventories (continued)
The perpetual method is used to record inventories, which are valued as follows:
The Group’s fiscal year applicable for the preparation of its consolidated financial statements starts on
1 January and ends on 31 December.
Raw materials, consumables - actual cost on a weighted average basis.
2.4 Accounting currency and merchandise
Finished goods and work in - cost of direct materials and labor plus attributable overhead based on the
The consolidated financial statements are prepared in VND which is also the Group’s accounting currency. process normal level of activities.
2.5 Basis of consolidation Provision for obsolete inventories
An inventory provision is created for the estimated loss arising due to the impairment (through diminution,
The Group’s consolidated financial statements comprise the financial statements of the Company (“the
damage, obsolescence, etc.) of raw materials, finished goods, and other inventories owned by the Group,
parent company”) and the financial statements of its subsidiaries for the year ended 31 December 2022.
based on appropriate evidence of impairment available at the balance sheet date. Increases and decreases
to the provision balance are recorded into the cost of goods sold account in the consolidated income
Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains
statement.
control, and continues to be consolidated until the date that such control ceases.
3.3 Receivables
The financial statements of the subsidiaries are prepared for the same reporting year as the parent company,
using consistent accounting policies. Receivables are presented in the consolidated financial statements at the carrying amounts due from
customers and other debtors, after provision for doubtful receivables.
All intra-company balances, income and expenses and unrealized gains or losses result from intra-company
transactions are eliminated in full. The provision for doubtful receivables represents amounts of outstanding receivables at the balance sheet
date which are doubtful of being recovered. Increases and decreases to the provision balance are recorded
Non-controlling interests represent the portion of profit or loss and net assets not held by the Group and are into general and administration expense account in the consolidated income statement.
presented separately in the consolidated income statement and within equity in the consolidated balance 3.4 Tangible fixed assets
sheet, separately from parent shareholders’ equity.
Tangible fixed assets are stated at cost less accumulated depreciation.
Impact of change in the ownership interest of a subsidiary, without a loss of control, is recorded to the
account of undistributed earnings. The cost of a tangible fixed asset comprises its purchase price and any directly attributable costs of bringing
the tangible fixed asset to working condition for its intended use.
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures for additions, improvements and renewals are added to the carrying amount of the assets and
expenditures for maintenance and repairs are charged to the consolidated income statement as incurred.
3.1 Cash and cash equivalents
When tangible fixed assets are sold or retired, any gain or loss resulting from their disposal (the difference
Cash and cash equivalents comprise cash on hand, cash in banks and short-term, highly liquid investments between the net disposal proceeds and the carrying amount) is included in the consolidated income
with an original maturity of less than three months that are readily convertible into known amounts of cash statement.
and that are subject to an insignificant risk of change in value.
3.5 Intangible assets
3.2 Inventories
Intangible assets are stated at cost less accumulated amortization.
Inventories are stated at the lower of cost incurred in bringing each product to its present location and The cost of an intangible asset comprises its purchase price and any directly attributable costs of preparing
condition, and net realizable value. the intangible asset for its intended use.
Net realizable value represents the estimated selling price in the ordinary course of business less the Expenditures for additions, improvements are added to the carrying amount of the assets and other
estimated costs to complete and the estimated costs necessary to make the sale. expenditures are charged to the consolidated income statement as incurred.
When intangible assets are sold or retired, any gain or loss resulting from their disposal (the difference
between the net disposal proceeds and the carrying amount) is included in the consolidated income
statement.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.5 Intangible assets (continued) 3.7 Investment properties (continued)
Land use rights Transfers are made to investment properties when, and only when, there is a change in use, evidenced
by ending of owner-occupation, commencement of an operating lease to another party or ending of
Land use rights are recorded as intangible assets representing the value of the right to use the lands construction or development. Transfers are made from investment properties when, and only when, there
acquired or leased by the Group. The useful lives of land use rights are assessed as either finite or indefinite. is change in use, evidenced by commencement of owner-occupation or commencement of development
Accordingly, land use rights with finite lives representing the land lease are amortized over the term of lease with a view to sale. The transfer from investment property to owner-occupied property or inventories does
while the land use rights with indefinite useful lives are not amortized. not change the cost or the carrying value of the property for subsequent accounting at the date of change
in use.
The advance payment for land rental, of which the land lease contracts have effectiveness prior to 2003 and
land use right certificate being issued, are recorded as intangible asset according to Circular No. 45/2013/ 3.8 Construction in progress
TT-BTC issued by the Ministry of Finance on 25 April 2013 guiding the management, use and depreciation
of fixed assets (“Circular 45”). Construction in progress represents tangible fixed assets under construction and is stated at cost. This
includes costs of construction of plant, installation of equipment and other direct costs. Construction in
3.6 Depreciation and amortization progress is not depreciated until such time as the relevant assets are completed and put into use.
Depreciation of tangible fixed assets and amortization of intangible assets are calculated on a straight-line 3.9 Borrowing costs
basis over the estimated useful life of each asset as follows:
Borrowing costs consist of interest and other costs that the Group incurs in connection with the borrowing
Buildings and structures 3 - 50 years of the fund and are recorded as expense during the period in which they are incurred except to the extent
that they are capitalized as explained in the following paragraph.
Machinery and equipment 5 - 25 years
Means of transportation 6 - 10 years Borrowing costs that are directly attributable to the acquisition, construction or production of an asset that
necessarily take a substantial period of time to get ready for its intended use or sale are capitalized as part
Office equipment 3 - 5 years of the cost of the respective asset.
Brand name 10 - 20 years
3.10 Prepaid expenses
Land use rights 10 - 46 years
Computer software 3 - 12 years Prepaid expenses are reported as short-term or long-term prepaid expenses on the consolidated balance
sheet and amortized over the period for which the amounts are paid or the period in which economic
Customer relationship 16 - 20 years benefits are generated in relation to these expenses.
Land lease advantage 8 - 32 years
Prepaid land rental
3.7 Investment properties
Prepaid land rental represents the unamortized balances of advanced payments made in accordance with
Investment properties are stated at cost including transaction costs less accumulated depreciation and/or lease contract for a period from 30 to 45 years. Such prepaid rental is recognized as a long-term prepaid
amortization. expense for allocation to the consolidated income statement over the remaining lease period according to
Circular 45.
Subsequent expenditure relating to an investment property that has already been recognized is added to
the net book value of the investment property when it is probable that future economic benefits, in excess of 3.11 Business combination and goodwill
the originally assessed standard of performance of the existing investment property, will flow to the Group.
Business combinations are accounted for using the purchase method. The cost of an acquisition is
Depreciation and amortization of investment properties are calculated on a straight-line basis over the measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed
estimated useful life of each asset as follows: at the date of exchange, plus costs directly attributable to the acquisition. Identifiable assets acquired and
liabilities and contingent liabilities assumed in a business combination are measured initially at fair values
Buildings and structures 16 years at the date of business combination.
Investment properties are derecognized when either they have been disposed of or when the investment
properties are permanently withdrawn from use and no future economic benefit is expected from its
disposal.

3.11 Business combination and goodwill (continued) 3.12 Investments (continued)
Goodwill is initially measured at cost being the excess of the cost of the business combination over the Investments in jointly controlled entities (continued)
Group’s share in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities. If
the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference The financial statements of the jointly controlled entities are prepared for the same reporting period and
is recognized directly in the consolidated income statement. After initial recognition, goodwill is measured use the same accounting policies as the Group. Where necessary, adjustments are made to bring the
at cost less accumulated amortization. Amortization of goodwill is calculated on a straight-line basis over accounting policies in line with those of the Group.
ten (10) years during which the source embodying economic benefits are recovered by the Group. The
parent company conducts the periodical review for impairment of goodwill of investment in subsidiaries. If Held-for-trading securities and investment in another entity
there are indicators of impairment loss incurred is higher than the yearly allocated amount of goodwill on
the straight-line basis, the higher amount will be recorded in the consolidated income statement. Held-for-trading securities and investment in another entity are stated at their acquisition costs.
3.12 Investments
Provision for diminution in value of investments
Investments in associates
Provision of the investment is made when there are reliable evidences of the diminution in value of those
The Group’s investment in its associates is accounted for using the equity method of accounting. An investments at the balance sheet date.
associate is an entity in which the Group has significant influence and which is neither a subsidiary nor
a joint venture. The Group generally deems they have significant influence if they have at least 20% of the Increases and decreases to the provision balance are recorded into finance expense account in the
voting rights. consolidated income statement.
Under the equity method, the investment is carried in the consolidated balance sheet at cost plus post
Held-to-maturity investments
acquisition changes in the Group’s share of net assets of the associates. Goodwill arising on acquisition of
the associate is included in the carrying amount of the investment. Goodwill is not amortized and subject to
Held-to-maturity investments are stated at their acquisition costs. After initial recognition, held-to-maturity
annual review for impairment. The consolidated income statement reflects the share of the post-acquisition
investments are measured at recoverable amount. Any impairment loss incurred is recognized as expense
results of operation of the associate.
in the consolidated financial statements and deducted against the value of such investments.
The share of post-acquisition profit (loss) of the associates is presented on the face of the consolidated
income statement and its share of post-acquisition movements in reserves is recognized in reserves. The 3.13 Payables and accruals
cumulative post-acquisition movements are adjusted against the carrying amount of the investment.
Dividend or profit sharing received or receivable from associates reduce the carrying amount of the Payables and accruals are recognized for amounts to be paid in the future for goods and services received,
investment. whether or not billed to the Group.
The financial statements of the associates are prepared for the same reporting period and use the same 3.14 Accrual for severance pay
accounting policies as the Group. Where necessary, adjustments are made to bring the accounting policies
in line with those of the Group. The severance pay to employee is accrued at the end of each reporting period for all employees who have
been in service for more than 12 months up to 31 December 2008 at the rate of one-half of the average
Investments in jointly controlled entities monthly salary for each year of service up to 31 December 2008 in accordance with the Labor Code and
The Group’s investment in jointly controlled entity is accounted for using the equity method of accounting. related implementing guidance. The average monthly salary used in this calculation will be revised at the
Under the equity method, the investment is carried in the consolidated balance sheet at cost plus post joint end of each reporting period following the average monthly salary of the 6-month period up to the reporting
venture changes in the Group’s share of net assets of the jointly controlled entity. The consolidated income date. Increases or decreases to the accrued amount other than actual payment to employee will be taken to
statement reflects the share of the post-acquisition results of operation of the jointly controlled entity. the consolidated income statement.
The share of profit (loss) of the jointly controlled entities is presented on face of the consolidated income This accrued severance pay is used to settle the termination allowance to be paid to employee upon
statement and its share of post-acquisition movements in reserves is recognized in reserves. The cumulative termination of their labor contracts following Article 48 of the Labor Code.
post-acquisition movements are adjusted against the carrying amount of the investment. Dividend or profit
sharing received or receivable from jointly controlled entity reduces the carrying amount of the investment.

3.15 Provision 3.19 Segment information
A segment is a component determined separately by the Group which is engaged in providing products or
Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of related services (business segment) or providing products or services in a particular economic environment
a past event, it is probable that an outflow of resources embodying economic benefits will be required to (geographical segment), that is subject to risks and returns that are different from those of other segments.
settle the obligation and a reliable estimate can be made of the amount of the obligation.
3.20 Appropriation of net profit
3.16 Foreign currency transactions
Net profit after tax is available for appropriation to shareholders after approval in the shareholders’ meeting,
Transactions in currencies other than the Group’s reporting currency of VND are recorded at the actual and after making appropriation to the reserve funds in accordance with the Company’s charter and
transaction exchange rates at transaction dates which are determined as follows: Vietnamese regulatory requirements.
The Group maintains the following reserve funds which are appropriated from its net profit after tax as
» Transactions resulting in receivables are recorded at the buying exchange rates of the commercial
proposed by the Board of Directors and subject to approval by shareholders at the Annual General Meeting:
banks designated for collection; and
» Transactions resulting in liabilities are recorded at the selling exchange rates of the commercial banks Investment and development fund
designated for payment.
This fund is set aside for use in the Group’s expansion of its operations or in-depth investments.
At the end of the year, monetary balances denominated in foreign currencies are translated at the actual
transaction exchange rates at the balance sheet date which are determined as follows: Bonus and welfare fund
» Monetary assets are translated at buying exchange rate of the commercial bank where the Group This fund is set aside for the purpose of pecuniary rewarding and encouragement, common benefits and
conducts transactions regularly; and improvement of the employees’ benefits, and presented as a liability on the consolidated balance sheet.
» Monetary liabilities are translated at selling exchange rate of the commercial bank where the Group Dividends
conducts transactions regularly.
Dividends proposed by the Board of Directors are classified as a separate allocation of undistributed
All foreign exchange differences are taken to the consolidated income statement. earnings within the equity section of the consolidated balance sheet, until they have been approved by the
shareholders at the Annual General Meeting and the authority. When these dividends have been approved
3.17 Treasury shares by the shareholders and declared, they are recognized as a liability in the consolidated balance sheet.
3.21 Revenue recognition

Own equity instruments which are reacquired by the Group (treasury shares) are recognized at cost and
deducted from equity. No gain or loss is recognized in profit or loss upon purchase, sale, re-issue or Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Group and
cancellation of the Group’s own equity instruments. the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received
or receivable, excluding trade discount, rebate and sales return. The following specific recognition criteria
3.18 Earnings per share must also be met before revenue is recognized:
Basic earnings per share is computed by dividing net profit after tax for the year attributable to ordinary Sale of goods
shareholders (after adjusting for the bonus and welfare fund) by the weighted average number of ordinary
Revenue is recognized when the significant risks and rewards of ownership of the goods have passed to the
shares outstanding during the year.
buyer, usually upon the delivery of the goods.
Diluted earnings per share amounts are calculated by dividing the net profit after tax attributable to Rendering of services
ordinary equity holders of the Group (after adjusting for interest on the convertible preference shares) by
the weighted average number of ordinary shares outstanding during the year plus the weighted average Where the contract outcome can be reliably measured, revenue is recognised by reference to the stage of
number of ordinary shares that would be issued on conversion of all the potential dilutive ordinary shares completion.
into ordinary shares.
Interest
Revenue is recognized as the interest accrues (taking into account the effective yield on the asset) unless
collectability is in doubt.
Dividends
Income is recognized when the Group’s entitlement as an investor to receive dividends is established.

3.22 Taxation 3.22 Taxation (continued)
Current income tax Deferred tax (continued)
Current income tax assets and liabilities for current and prior years are measured at the amount expected Deferred tax is charged or credited to the consolidated income statement, except when it relates to items
to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the recognized directly to equity, in which case it is also dealt with in the equity account.
amount are those that are enacted as at the balance sheet date.
Deferred tax assets and liabilities are offset when there is a legally enforceable right for the Group to set off
Current income tax is charged or credited to the consolidated income statement, except when it relates to
current tax assets against current tax liabilities and when they relate to income taxes levied by the same
items recognized directly to equity, in which case it is also dealt with in the equity account.
taxation authority on either the same taxable entity or when the Group intends to either settle current tax
Current income tax assets and liabilities are offset when there is a legally enforceable right for the Group to liabilities and assets on a net basis or to realize the assets and settle the liabilities simultaneously, in each
set off current tax assets against current tax liabilities and when the Group intends to settle its current tax future year in which significant amounts of deferred tax liabilities or assets are expected to be settled or
assets and liabilities on a net basis. recovered.
Deferred tax 3.23 Related parties

Deferred tax is provided using the liability method on temporary differences at the balance sheet date
Parties are considered to be related parties of the Group if one party has the ability to, directly or indirectly,
between the tax base of assets and liabilities and their carrying amount for financial reporting purpose.
control the other party or exercise significant influence over the other party in making financial and operating
Deferred tax liabilities are recognized for all taxable temporary differences, except: decisions, or when the Group and other party are under common control or under common significant
influence. Related parties can be enterprises or individuals, including close members of their families.
» where deferred tax liability arises from the initial recognition of an asset or liability in a transaction
which at the time of the transaction affects neither the accounting profit nor taxable profit or loss; and 4. GOODWILL
» in respect of taxable temporary differences associated with investments in subsidiaries and associates,
Goodwill is amortized on a straight line basis over ten (10) years from acquisition date. Details were as
and interests in joint ventures where timing of the reversal of the temporary difference can be controlled
follows:
and it is probable that the temporary difference will not reverse in the foreseeable future.
Deferred tax assets are recognized for all deductible temporary differences, carried forward unused tax
VND
credit and unused tax losses, to the extent that it is probable that taxable profits will be available against
which deductible temporary differences, carried forward unused tax credit and unused tax losses can be Cost
utilized, except: Beginning balance 309,600,794,828
» where deferred tax asset in respect of deductible temporary difference which arises from the initial Disposal of investment (*) (1,879,103,386)
recognition of an asset or liability which at the time of the related transaction, affects neither the
Ending balance 307,721,691,442
accounting profit nor taxable profit or loss; and
Accumulated amortization
» in respect of deductible temporary differences associated with investments in subsidiaries and
associates, and interests in joint ventures, deferred tax assets are recognized only to the extent that it Beginning balance 135,271,881,444
is probable that the temporary difference will reverse in the foreseeable future and taxable profits will Amortization for the year 30,698,792,653
be available against which the temporary differences can be utilized.
Disposal of investment (1,879,103,386)
The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent Ending balance 164,091,570,711
that it is no longer probable that sufficient taxable profit will be available to allow all or part of deferred tax
asset to be utilized. Previously unrecognized deferred tax assets are re-assessed at each balance sheet Net carrying amount
date and are recognized to the extent that it has become probable that future taxable profit will allow the Beginning balance 174,328,913,384
deferred tax assets to be recovered.
Ending balance 143,630,120,731
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when
the asset is realized or the liability is settled based on tax rates and tax laws that have been enacted at the (*) During the year, the Group fully disposed 6,100,000 shares, equivalent to 61% of TTV's charter capital,
balance sheet date. with the transfer price of VND 122,000,000,000.

5. CASH AND CASH EQUIVALENTS 7. INVENTORIES

VND VND
Ending balance Beginning balance Ending balance Beginning balance
Cash on hand 545,498,096 68,764,701,182 Raw materials 855,876,577,318 847,291,551,806

Cash in banks 1,047,582,432,857 1,039,983,789,153 Finished goods 440,956,105,153 482,184,775,979
Cash equivalents 52,023,891,252 172,547,000,000 Merchandise goods 425,573,680,734 148,257,258,000
TOTAL 1,100,151,822,205 1,281,295,490,335 Work in process 356,010,656,020 444,913,096,368
Goods in transit 97,910,087,067 526,166,856,674
Cash equivalents represented term deposits at the commercial banks with the original maturity of less than
three (3) months and earned the interest at the rates of 6% per annum. Tools and supplies 42,272,152,682 43,305,723,895
Goods on consignment - 7,885,378,762
6. CURRENT ACCOUNTS RECEIVABLE
VND TOTAL 2,218,599,258,974 2,500,004,641,484
Ending balance Beginning balance Provision for obsolete inventories (6,293,397,778) (5,348,317,627)
Short-term trade receivables 509,552,788,711 534,418,458,450 NET 2,212,305,861,196 2,494,656,323,857
In which:
8. PREPAID EXPENSES
Due from related parties (Note 31) 1,082,220,190 2,325,987 VND
Due from third parties 508,470,568,521 534,416,132,463 Ending balance Beginning balance
Short-term advances to suppliers 437,926,095,522 82,808,834,331 Short-term 23,673,597,175 21,585,105,666
In which: Tools and equipment 6,464,790,418 3,698,418,929
Other suppliers 437,926,095,522 82,808,834,331 Insurance fees 3,594,309,762 1,666,731,763
Short-term loan receivables 258,000,000,000 - Consultant fee 2,696,315,513 6,577,948,154
In which: Rental fees 2,324,311,190 2,739,869,904
Due from related parties (Note 31) 258,000,000,000 - Maintenance expenses 1,509,937,848 1,057,145,161
Other short-term receivables 1,743,447,255,952 1,936,400,703,695 Others 7,083,932,444 5,844,991,755
In which: Long-term 78,819,525,112 80,791,966,461

Prepaid land rental 62,061,096,561 65,073,638,181
Advance for investments (i) 1,393,307,000,000 1,693,307,000,000
Tools and equipment 8,940,721,673 10,570,354,660
Receivables from disposal of an investment 122,000,000,000 26,020,000,000
Others 7,817,706,878 5,147,973,620
Interest receivable 20,318,342,135 2,520,283,162
TOTAL 102,493,122,287 102,377,072,127
Employees’ advances 2,321,975,870 1,504,306,004
Others (ii) 205,499,937,947 213,049,114,529 9. LONG-TERM RECEIVABLES
In which: VND
Due from a related party (Note 31) 115,276,913,947 22,055,803 Ending balance Beginning balance
Due from third parties 1,628,170,342,005 1,936,378,647,892 Long-term advance to supplier

Shortage of assets waiting for resolution 652,705,599 715,917,930 Advance for office rental to Hoang Trieu Co., Ltd. 10,843,153,926 12,025,157,974
Provision for doubtful short-term receivables (839,058,965) (2,039,058,965) Long-term loan receivables
30,000,000,000 -
NET 2,948,739,786,819 2,552,304,855,441 from a related party (Note 31)
Other long-term receivables
(i) This ending balance represented the advances made to Chau A Chau Investment Company Limited for
Long-term deposits 1,865,135,000 15,396,326,832
the acquisition of targeted shares.
(ii) This balance included the outstanding advances to Viet Dragon Securities Corporation (“VDS”) to seek Receivable from disposal of an investment - 37,011,647,546
targeted investments amounting to VND 85,638,400,000. TOTAL 42,708,288,926 64,433,132,352

10. TANGIBLE FIXED ASSETS

VND
Buildings Machinery Means of Office
and structures and equipment transportation equipment Total
Cost
Beginning balance 729,179,672,398 1,411,556,233,045 110,058,171,798 48,196,641,478 2,298,990,718,719
New purchased 19,434,769,097 31,362,581,257 7,410,936,600 4,474,186,996 62,682,473,950
Transfer from construction in progress 157,315,640,167 112,862,209,778 - - 270,177,849,945
Disposal investment (14,507,840,254) (874,122,038) - - (15,381,962,292)
Disposal during the year (16,639,922,611) (6,339,883,062) (11,501,697,637) (2,450,568,790) (36,932,072,100)
Ending balance 874,782,318,797 1,548,567,018,980 105,967,410,761 50,220,259,684 2,579,537,008,222
In which:
Fully depreciated 158,314,650,998 517,895,179,365 36,596,939,602 34,126,127,373 746,932,897,338
Accumulated depreciation
Beginning balance 384,432,526,438 1,058,105,690,215 67,431,320,595 42,951,500,749 1,552,921,037,997
Depreciation for the year 33,089,951,064 84,794,409,760 8,446,871,300 2,508,918,113 128,840,150,237
Disposal investment (1,544,781,125) - - - (1,544,781,125)
Disposal during the year (11,681,316,217) (4,885,751,174) (10,954,921,307) (2,450,568,790) (29,972,557,488)
Ending balance 404,296,380,160 1,138,014,348,801 64,923,270,588 43,009,850,072 1,650,243,849,621
Net carrying amount
Beginning Balance 344,747,145,960 353,450,542,830 42,626,851,203 5,245,140,729 746,069,680,722
Ending balance 470,485,938,637 410,552,670,179 41,044,140,173 7,210,409,612 929,293,158,601


11. INTANGIBLE ASSETS

VND
Land use Computer Land lease Customer
Brand name rights software advantage relationship Total
Cost
Beginning balance 517,957,052,107 833,705,110,032 78,530,943,315 462,765,852,930 445,566,324,831 2,338,525,283,215
Newly purchased - - 454,000,000 - - 454,000,000
Transferred from construction in progress - - 8,404,930,820 - - 8,404,930,820
Disposal investment - - (454,000,000) - - (454,000,000)
Write-off - - (58,500,000) - - (58,500,000)
Ending balance 517,957,052,107 833,705,110,032 86,877,374,135 462,765,852,930 445,566,324,831 2,346,871,714,035
In which:
Fully amortized - 3,409,939,531 36,826,033,050 - - 40,235,972,581
Accumulated amortization
Beginning balance 141,294,558,979 136,091,173,228 54,976,566,938 94,148,314,816 117,253,225,228 543,763,839,189
Amortization for the year 25,068,254,288 28,639,955,784 6,349,750,442 21,993,243,158 22,560,663,626 104,611,867,298
Disposal investment - - (106,823,528) - - (106,823,528)
Write-off - - (58,500,000) - - (58,500,000)
Ending balance 166,362,813,267 164,731,129,012 61,160,993,852 116,141,557,974 139,813,888,854 648,210,382,959
Net carrying amount
Beginning balance 376,662,493,128 697,613,936,804 23,554,376,377 368,617,538,114 328,313,099,603 1,794,761,444,026
Ending balance 351,594,238,840 668,973,981,020 25,716,380,283 346,624,294,956 305,752,435,977 1,698,661,331,076


12. INVESTMENT PROPERTIES 14. INVESTMENTS (CONTINUED)

VND
14.2 Investments in associates and jointly controlled entities
Buildings and structures
Cost
Carrying value
Beginning and ending balances 11,797,057,729 Name of associates and jointly
controlled entities Interest Ending balance Interest Beginning balance
Accumulated depreciation % VND % VND
Beginning balance 7,196,135,415 Calofic 24.00 2,081,722,772,126 24.00 1,995,864,640,724
Depreciation for the year 192,381,132 Lavenue (*) 50.00 1,069,509,263,273 50.00 1,069,509,263,273
Ending balance 7,388,516,547 LG Vina 40.00 577,550,285,739 40.00 570,079,262,907
Net carrying amount Dabaco Food 50.00 100,094,843,195 50.00 102,927,874,250
Beginning balance 4,600,922,314 Vibev (**) 49.00 140,211,267,314 49.00 189,328,582,300
Ending balance 4,408,541,182 TOTAL 3,969,088,431,647 3,927,709,623,454
The fair value of investment properties had not yet been formally assessed and determined as at 31 December (*) Lavenue is a shareholding company incorporated under the Law on Enterprise of Vietnam pursuant
2022. However, the management’s assessment is that the fair value of these investment properties are to the BRC No. 0310306044 issued by the DPI of Ho Chi Minh City on 10 September 2010. Its principal
higher than their carrying value at balance sheet date. activities are to operate in the real estate industry. Lavenue’s registered head office is located at No. 12
Le Thanh Ton, District 1, Ho Chi Minh City. Lavenue is the owner of Lavenue Crown Project (“Project”)
13. CONSTRUCTION IN PROGRESS located at No 8 - 12 Le Duan Street, District 1, Ho Chi Minh City, Vietnam.
VND
Ending balance Beginning balance Since 2018, the implementation of the Project has been under inspection by the relevant authorities.
Installation and renovation of machinery 65,312,014,241 165,326,466,872
On 20 September 2020, the People’s Court of Ho Chi Minh City (“The Court”) issued the court’s
Software development - 2,412,000,000 first instance judgment No.400/2020/HS-ST in term of the violation in managing decision, using State’s
Others 9,647,338,940 - assets causing losses relating to the Project.
TOTAL 74,959,353,181 167,738,466,872

From 29 November 2021 to 2 December 2021, the Court continued the appeal court to resolve the appeal
against to first-instance judgement from relevant parties. However, up to the date of these consolidated
14. INVESTMENTS
financial statements, the Group has not received any official notice of decision from the competent
authorities over the result of appellate judgment.
14.1 Held-to-maturity investments
As at the date of these consolidated financial statements, the Group is in the process to conduct
Ending balance Beginning balance civil procedures while waiting for further guidance and requirements relevant authorities relating to
the said matter relating to the said matter, if any. Concurrently, the Group’s management continue to
Number Amount Number Amount
represents its willingness to implement the appropriate decision to jointly continue the investment in
VND VND
and development of the Project.
Short-term 522,372,164,343 480,812,219,178
Bond Certificate of (**) Vibev a joint venture between Kido and Vietnam Dairy Products Joint Stock Company under the Law
490,000 490,000,000,000 450,000 450,000,000,000 on Enterprise of Vietnam pursuant to the BRC No. 0316724859 issued by the DPI of Ho Chi Minh City
Rong Viet Securities JSC
on 1 March 2021. Its principal activities are to manufacture non-alcoholic drinks, mineral water.Vibev’s
Vietnam Export Import Commercial
32,372,164,343 30,812,219,178 registered head office is located at No.10, Tan Trao Street, Tan Phu Ward, District 7, Ho Chi Minh City.
Joint Stock Bank
Long-term 6,370,000,000 6,370,000,000 On November 30, 2022, Group’s Board of Directors decided to approve the suspension and dissolution
Bond Certificates of Bank for of Vibev according to the resolution No. KDC18/2022/NQ-HĐQT.
Investment and Development of 6,370,000,000 6,370,000,000
Vietnam (“BIDV”)
TOTAL 528,742,164,343 487,182,219,178

14. INVESTMENTS (CONTINUED)
14.2 Investments in associates and jointly controlled entities (continued)
Details of the carrying values of these investments in associates and jointly controlled entities as at 31
December 2022 were as follows:
VND
Lavenue Vibev Calofic LG Vina Dabaco Food Total
Cost of investment
Beginning and ending balances 1,087,500,000,000 196,000,000,000 1,383,942,384,943 548,458,021,068 116,000,000,000 3,331,900,406,011
Accumulated share in post-acquisition profit (loss) of

the associates and jointly controlled entities
Beginning balance (17,990,736,727) (6,671,417,700) 611,922,255,781 21,621,241,839 (13,072,125,750) 595,809,217,443
Share in post-acquisition profit (loss) for the year - (49,117,314,986) 148,558,186,770 7,471,022,832 (2,833,031,055) 104,078,863,561
Dividend - - (62,700,055,368) - - (62,700,055,368)
Ending balance (17,990,736,727) (55,788,732,686) 697,780,387,183 29,092,264,671 (15,905,156,805) 637,188,025,636
Carrying amount
Beginning balance 1,069,509,263,273 189,328,582,300 1,995,864,640,724 570,079,262,907 102,927,874,250 3,927,709,623,454
Ending balance 1,069,509,263,273 140,211,267,314 2,081,722,772,126 577,550,285,739 100,094,843,195 3,969,088,431,647


15. SHORT-TERM TRADE PAYABLES 19. OTHER SHORT-TERM PAYABLES

VND VND
Ending balance Beginning balance Ending balance Beginning balance
Due to related parties (Note 31) 1,510,446,175 2,325,987 Deposit to purchase shares 50,940,020,000 -
Apical Vietnam Oils and Fats Pte. Ltd 179,252,660,916 489,058,160,489 Board of Directors’ allowance 23,840,000,000 23,840,000,000
Others 368,185,706,597 290,088,477,176 Payables for equitization 12,716,244,592 12,716,244,592
TOTAL 548,948,813,688 779,148,963,652 Dividends payable 5,657,581,460 8,695,406,275
Social, health and unemployment insurance 1,793,507,821 2,499,904,850
16. SHORT-TERM ADVANCE FROM CUSTOMERS
UPAS L/C Charge - 318,948,873,936
VND
Others 12,065,093,718 36,772,289,201
Ending balance Beginning balance TOTAL 107,012,447,591 403,472,718,854
Due to third parties 25,435,506,047 86,793,149,476 In which:

Payables to related parties (Note 31) 23,840,000,000 23,840,000,000
17. STATUTORY OBLIGATIONS Others 83,172,447,591 379,632,718,854
VND
Beginning Disposal 20. LOANS
balance Increase Decrease of subsidiary Ending balance VND
Ending balance Beginning balance
Value-added tax 5,662,804,627 570,055,720,769 (570,584,177,991) - 5,134,347,405
Short-term loans 4,168,303,495,655 3,501,317,726,244
Corporate income tax 49,395,453,077 145,894,259,653 (148,402,543,007) - 46,887,169,723
Loans from banks (Note 20.1) 3,919,820,703,166 3,499,780,207,750
Personal income tax 8,831,960,412 87,796,862,641 (86,601,158,836) (334,812,291) 9,692,851,926 Current portion of domestic straight bonds 247,452,000,000 -
Other taxes 3,419,092,210 13,916,785,005 (14,271,469,357) (306,181,229) 2,758,226,629 Current portion of long-term loans (*) 1,030,792,489 1,537,518,494
TOTAL 67,309,310,326 817,663,628,068 (819,859,349,191) (640,993,520) 64,472,595,683 Long-term loans 751,915,330,417 997,575,613,014
In which: Long-term loan from another entity (*) 7,011,330,424 7,767,613,017
Tax overpaid (22,071,703,493) (11,582,410,202) Domestic straight bonds (Note 20.2) 744,903,999,993 989,807,999,997
Tax payables 89,381,013,819 76,055,005,885 TOTAL 4,920,218,826,072 4,498,893,339,258
18. SHORT-TERM ACCRUED EXPENSES (*) This is a non-interest bearing and unsecured borrowing from Industrial Urban Development Joint Stock
VND Company No. 2 in relation to a land lease for manufacturing plant located at Nhon Trach II Industrial Park,
Nhon Trach District, Dong Nai Province according to Contract No. 115/1988/HDTD dated 12 May 1988.
Ending balance Beginning balance
Marketing expenses 131,122,148,599 130,865,452,157 Movements of loans are as follows:

VND
Trade discount 77,842,501,222 88,443,569,601
Short-term loans Long-term loans Total
Interest expense 51,093,697,119 44,254,223,649
Beginning balance 3,501,317,726,244 997,575,613,014 4,498,893,339,258
Sales incentive 28,390,690,453 25,608,081,835
Drawdown of borrowings 16,019,761,667,948 - 16,019,761,667,948
Transportation fee 22,407,999,903 25,624,367,810
Current portion classified from long-term loans 248,482,792,489 (248,482,792,489) -
13th month salary and bonus 16,346,904,696 63,058,232,119
Foreign exchange difference (7,127,500,000) 274,509,896 (6,852,990,104)
Others 15,400,917,028 12,186,734,835
Allocation of bond issuance expenses - 2,547,999,996 2,547,999,996
TOTAL 342,604,859,020 390,040,662,006
Repayment of borrowings (15,594,131,191,026) - (15,594,131,191,026)
Ending balance 4,168,303,495,655 751,915,330,417 4,920,218,826,072

20. LOANS (CONTINUED) 20. LOANS (CONTINUED)
20.1 Short-term loans from banks 20.2 Domestic straight bonds
Short-term unsecured loans from commercial banks are to finance for working capital requirements. Details Details of these bonds as at 31 December 2022 are as follows:
are as follows:
VND
Arrangement organization Date of issuance Amount
Bank Ending balance Original Interest Maturity date VND
VND currency rate
USD % p.a. Vietnam International Commercial Joint Stock Bank (“VIB”) 04 January 2021 700,000,000,000
Shinhan Bank Vietnam Limited (“Shinhan”) 04 January 2021 300,000,000,000
Joint Stock Commercial Bank for Foreign Trade of Vietnam (“VCB”) - Ho Chi Minh City Branch
Unallocated bond issuance expenses (7,644,000,007)
Loan 1 800,688,432,646 7% - 7.9% From 27 February 2023 to 15 May 2023
TOTAL 992,355,999,993
Loan 2 556,595,707,817 5.2% - 7% From 16 January 2023 to 15 April 2023
In which
Loan 3 232,334,461,946 8% From 3 February 2023 to 2 March 2023
Long-term bonds 744,903,999,993
Loan 4 133,083,480,221 7% - 7.2% From 6 March 2023 to 23 May 2023
Current portion long-term bond 247,452,000,000
Loan 5 12,000,000,000 7% From 7 November 2022 to 7 February 2023
Vietnam Joint Stock Commercial Bank for Industry and Trade On 4 January 2021 the Group issued bonds at total value of VND 1,000 billion (the par value per bond is
Loan 1 332,191,111,944 8% From 4 March 2023 to 19 April 2023 VND 1 billion) which was bought by VIB. These bonds will be repaid after five (5) years from the date of
issuance plus an interest rate of 8% per annum for the second six-month period, and for subsequent
Loan 2 279,685,556,276 7% From 13 March 2023 to 20 March 2023 six month periods the interest rate is the average interest rate of individual saving deposit in VND with the
Bank for Investment and Development of Vietnam - Ho Chi Minh City Branch term of twelve (12) months announced by four (4) banks: VCB, VTB, BIDV and VIB plus margin of 2.75% per
annum.
Loan 1 239,975,523,991 6.3% - 7.3% From 6 February 2023 to 19 March 2023
Loan 2 202,944,224,667 7.3% From 17 February 2023 to 3 March 2023 On 26 May 2022, the Group appointed VIB as the Payment Agent and the Agent of managing collateral for
the above 1,000 issued bonds of the Company. On May 28, 2022, VIB sold 300 bonds issued by the Group
Taipei Fubon Commercial Bank Co., Ltd with a total value of VND 300 billion to Shinhan through a bond purchase agreement.
Loan 1 296,062,500,000 12,500,000 4.4% - From 27 January 2023 to 28 April 2023
6.31% The Group has the obligation to repurchase these bonds before maturity date from date of issuance as follows:
Loan 2 167,538,014,106 8.3% - From 30 May 2023 to 31 May 2023 » minimum 25% of the issued bond value on the date-end of twenty-four (24)-month period from the
8.45% issuance date;
Military Commercial Joint Stock Bank - Ho Chi Minh City Branch » minimum 25% of the issued bond value on the date-end of thirty-six (36)-month period from the
issuance date;
Loan 1 433,701,912,987 8% - 8.7% From 11 February 2023 to 31 March 2023
» minimum 25% of the issued bond value on the date-end of forty-eight (48)-month period from the
Loan 2 1,036,800,000 9.7% 23 May 2023
issuance date; and
Malayan Banking Berhad
» the remaining value of issued bond value on the date-end of sixty (60)-month period from the issuance date.
Loan 1 161,400,000,000 6.2% - 7.8% From 10 February 2023 to 14 March 2023
The proceeds from the bonds were used for the purpose of supplementing the Group’s capital for business
and production activities. As at 31 December 2022, the bonds are secured by 92,118,000 shares of Vocarimex
Loan 2 70,582,976,565 5.8% - 6.8% From 11 January 2023 to 15 February 2023 and 17,000,000 shares of Tuong An - the Group’s subsidiaries (Note 1).
TOTAL 3,919,820,703,166 12,500,000 21. BONUS AND WELFARE FUNDS

VND
Current year Previous year
Beginning balance 107,312,917,413 69,885,930,547

Transfer from undistributed earnings 40,403,428,617 41,804,783,659
Utilization of fund (1,374,110,864) (4,377,796,793)
Ending balance 146,342,235,166 107,312,917,413

22. OWNERS’ EQUITY
22.1 Increase and decrease in owners’ equity

VND
Other funds
Issued Other owners’ Investment and belonging to Undistributed
share capital Share premium capital Treasury shares development fund owners’ equity earnings Total
Previous year:
Beginning balance 2,797,413,560,000 3,850,410,394,900 104,000,000,000 (1,959,478,509,838) 74,811,345,990 15,909,752,661 840,072,182,956 5,723,138,726,669
Issuance of new shares - (500,000,000) - - - - - (500,000,000)
Issuance of bonus shares - (878,991,536,570) - 879,014,166,570 - - - 22,630,000
Net profit for the year - - - - - - 590,401,869,878 590,401,869,878
Dividend declared - - - - - - (137,249,460,000) (137,249,460,000)
Transferred to bonus and welfare fund - - - - - - (34,515,283,355) (34,515,283,355)
Board of Directors’ and Board of

- - - - - - (12,532,000,000) (12,532,000,000)
Supervision’s allowance
Increase from acquisition - - - - - - 544,055,649,226 544,055,649,226
Ending balance 2,797,413,560,000 2,970,918,858,330 104,000,000,000 (1,080,464,343,268) 74,811,345,990 15,909,752,661 1,790,232,958,705 6,672,822,132,418
Current year:
Beginning balance 2,797,413,560,000 2,970,918,858,330 104,000,000,000 (1,080,464,343,268) 74,811,345,990 15,909,752,661 1,790,232,958,705 6,672,822,132,418
Re-issuance of treasury shares - 136,250,800,000 - 215,191,200,000 - - - 351,442,000,000
Disposal investment - - - - - - 37,213,808,524 37,213,808,524
Net profit for the year - - - - - - 362,600,497,164 362,600,497,164
Dividends declared - - - - - - (305,308,812,000) (305,308,812,000)
Transferred to bonus and welfare fund - - - - - - (35,434,090,087) (35,434,090,087)
Board of Directors’ and Board of

- - - - - - (14,807,558,508) (14,807,558,508)
Supervision’s allowance
Business combination - - - - - - (215,047,582,159) (215,047,582,159)
Ending balance 2,797,413,560,000 3,107,169,658,330 104,000,000,000 (865,273,143,268) 74,811,345,990 15,909,752,661 1,619,449,221,639 6,853,480,395,352

22. OWNERS’ EQUITY (CONTINUED) 22. OWNERS’ EQUITY (CONTINUED)
22.2 Shares 22.5 Non-controlling interests

Share VND
Ending balance Beginning balance Current year Previous year
Beginning balance 221,820,520,523 1,976,248,726,071
Ordinary shares authorized to be issued 279,741,356 279,741,356
Net profit for the year 12,055,017,131 62,888,703,639
Ordinary shares issued and fully paid 279,741,356 279,741,356
Acquisition of non-controlling interests (31,786,632,861) (1,747,619,614,915)
Treasury shares held by the Group (*) (22,517,346) (28,117,346)
Dividends declared (19,346,124,000) (71,618,400,000)
In which: held by the Group (22,517,346) (28,117,346)
Transferred to fund (4,969,338,530) (7,289,500,304)
Ordinary outstanding shares 257,224,010 251,624,010
Board of Directors’ allowance (782,869,412) (588,000,000)
(*) On 6 June 2022, the Board of Directors of the Company issued Resolution No. 06/2022/NQ/HĐQT Increase due to business acquisition - 9,798,606,032
approving the plan to sell 28,117,346 treasury shares. According to the announcement of changing the Disposal of investment 22,256,658,591 -
number of voting shares No. CB02/2022/CPQ on 30 August 2022, the Company has successfully sold
Ending balance 199,247,231,442 221,820,520,523
5,600,000 treasury shares to supplement working capital, manufacturing business for production and
business activities.
23. REVENUE
22.3 Dividends
23.1 Revenues from sale of goods and rendering of services
VND
VND
Dividends declared to shareholders of
305,308,812,000 137,249,460,000 Gross revenue 12,787,155,345,809 10,675,274,452,835
the parent company during the year
Dividends paid to shareholders of In which:
308,926,127,980 335,265,451,270
the parent company Sale of finished goods 10,954,451,890,032 8,955,598,554,056
Sale of merchandise goods 1,826,363,799,483 1,699,269,725,450
22.4 Earnings per share
Others 6,339,656,294 20,406,173,329
The following reflects the income and share data used in the basic and diluted earnings per share computations:
Less (251,971,860,773) (178,409,982,077)
In which:
Previous year
Current year (Restated) Sales discounts (153,017,825,022) (137,071,393,090)
Net profit attributable to the Company’s shareholders (VND) 362,600,497,164 590,401,869,878 Sales return (98,954,035,751) (41,338,588,987)
Distribution to bonus and welfare fund (*) - (17,900,575,814) NET REVENUE 12,535,183,485,036 10,496,864,470,758
Net profit after tax attributable to ordinary shareholders for basic earnings 362,600,497,164 572,501,294,064 In which:
Weighted average number of ordinary shares 230,641,408 230,634,395 Sales to a related party 1,414,792,982 54,806,500,448
Basic earnings per share (Par value: VND 10,000 per share) 1,572 2,482 Sales to other customers 12,533,768,692,054 10,442,057,970,310
Diluted earnings per share (Par value: VND 10,000 per share) 1,572 2,482 23.2 Finance income
VND
(*) Net profit used to compute earnings per share for the year ended 31 December 2021 was restated
following the actual allocation to bonus and welfare funds from 2021 retained earnings as approved in Current year Previous year
the Annual General Meeting’s Resolution dated 23 March 2022. Gains from disposal of investment 122,499,247,718 -
Interest income 73,578,078,179 123,442,305,632
There have been no other transactions involving ordinary shares or potential ordinary shares between the
Foreign exchange difference gains 48,003,046,480 36,453,645,826
reporting date and the date of completion of these consolidated financial statements.
Others 5,892,480,907 23,477,187
TOTAL 249,972,853,284 159,919,428,645

28. OTHER INCOME AND EXPENSES

24. COST OF GOODS SOLD AND SERVICES RENDERED VND
VND
Other income 32,302,372,994 5,243,138,141
Cost of finished goods sold 8,253,178,036,003 7,438,214,966,022
Compensation received from suppliers 14,984,763,173 395,647,751
Cost of merchandises sold 1,985,696,193,430 983,768,505,296
Gains from disposal of assets 3,788,242,550 644,741,483
Provision for obsolete inventories 2,123,920,192 2,879,561,686
Cost of service rendered 2,072,798,308 - Rental income 3,633,987,825 107,200,000
Others 18,506,144,715 20,986,509,187 Others 9,895,379,446 4,095,548,907

TOTAL 10,261,577,092,648 8,445,849,542,191 Other expenses 20,213,663,267 5,933,368,627
25. FINANCE EXPENSES Penalty paid 8,050,130,341 477,936,627

VND
Support fees 3,684,255,016 11,260,000
Others 8,479,277,910 5,444,172,000
Loan interest 232,943,464,615 177,888,774,790
NET OTHER PROFIT 12,088,709,727 690,230,486
Foreign exchange difference losses 28,662,281,182 7,550,876,541
Allocation of bond issuance expenses 2,547,999,996 2,547,999,997 29. PRODUCTION AND OPERATING COSTS
Others 9,806,947,661 5,584,282,355
VND
TOTAL 273,960,693,454 193,571,933,683 Current year Previous year
Raw materials cost 8,275,880,899,218 7,462,081,036,895

26. SELLING EXPENSES
VND Cost of merchandises 1,985,696,193,430 983,768,505,296
Current year Previous year Labor costs 783,882,341,326 756,063,763,948

Labor cost 619,564,099,575 581,879,575,734 External services 677,063,419,440 426,841,677,866
External services 440,990,727,469 325,774,089,761
Depreciation and amortization 264,343,191,320 264,566,201,519
Advertising and promotion 230,770,505,695 165,568,805,370
Reversal of provisions for doubtful debts (1,200,000,000) (137,901,265,105)
Depreciation and amortization 67,857,053,763 68,132,652,514
Others 131,098,780,144 129,743,081,983
Others 86,842,464,714 55,235,550,302
TOTAL 1,446,024,851,216 1,196,590,673,681 TOTAL 12,116,764,824,878 9,885,163,002,402
27. GENERAL AND ADMINISTRATIVE EXPENSES 30. CORPORATE INCOME TAX

VND
During the year, the Company and its subsidiaries have the obligation to pay corporate income tax (“CIT”)
Current year Previous year at the rate of 20% of taxable profits, except for the taxable profits from Phu Dong III project was subject to
Labor cost 164,318,241,751 180,754,638,110 CIT at the applicable rate (20%). In addition, Phu Dong III was entitled to an exemption from CIT for two (2)
years commencing from the first year (2018) in which a taxable profit is earned, and a 50% reduction of the
Depreciation and amortization 95,627,096,220 96,706,403,880 applicable CIT rate for the following four (4) years.
External services 94,200,955,828 56,594,846,519
The tax returns filed by the Company and its subsidiaries are subject to examination by the tax authorities.
Maintenance and rental fees 41,597,321,061 34,338,659,105
Because the application of tax laws and regulations to many types of transactions is susceptible to varying
Reversal of provisions for doubtful debts (1,200,000,000) (137,901,265,105) interpretations, amounts reported in the consolidated financial statements could change at a later date
Others 14,619,266,154 12,229,504,021 upon final determination by the tax authorities.
TOTAL 409,162,881,014 242,722,786,530


30. CORPORATE INCOME TAX (CONTINUED) 30. CORPORATE INCOME TAX (CONTINUED)
30.1 CIT expense 30.3 Deferred tax

VND
The following is deferred tax asset and deferred tax liabilities recognized by the Group, and the movements
thereon, during the current and previous years:
Current CIT expense 144,737,861,945 129,604,774,860 VND
Under accrual of tax from prior years 1,156,397,708 - Consolidated balance sheet Consolidated income statement
Deferred tax income (9,951,380,672) (95,065,891,202) Ending balance Beginning balance Current year Previous year
Accrued expense 52,941,717,153 56,996,158,175 (4,054,441,022) 37,358,505,836

TOTAL 135,942,878,981 34,538,883,658
Severance allowance 6,932,360,346 5,103,126,644 1,829,233,702 (1,034,422,381)
Reconciliation between the CIT expense and accounting profit multiplied by CIT rate is presented below: Unrealized profits 15,904,258,126 9,854,196,762 6,050,061,364 574,881,906
VND
Provision at separate level 687,769,736 1,076,523,945 (388,754,209) 1,028,992,950
Provision for investment
(11,770,175,451) (3,907,588,280) (7,862,587,171) (3,275,790,335)
Accounting profit before tax 510,598,393,276 687,829,457,176 diminution
Provision for doubtful debts (16,868,191,982) (11,896,788,017) (4,971,403,965) 41,065,840,823
At applicable CIT rate to companies in the Group 102,119,678,655 137,565,891,435
Gain from acquisition of a
Adjustments: (73,926,849,590) (73,926,849,590) - -
subsidiary
Non-deductible expenses 9,161,640,612 6,137,256,461 Gain from revalued assets arising
(618,966,686,430) (638,315,958,403) 19,349,271,973 19,347,882,403
from business combination
Amortization of goodwill 6,139,758,531 6,515,579,208
TOTAL (645,065,798,092) (655,017,178,764) 9,951,380,672 95,065,891,202
Depreciation of revalued tangible fixed assets
387,512,421 411,074,401 In which:
and amortization of revalued intangible assets
Deferred tax assets 76,466,105,361 73,030,005,526
Shares of profit of joint venture and associates (20,815,772,712) (22,094,144,869)
Deferred tax liabilities (721,531,903,453) (728,047,184,290)
Unrecognized deferred tax of tax losses
36,866,307,423 3,263,930,568
carried forward 30.4 Tax losses carried forward
Utilization of tax losses carried forward (1,242,985,185) (102,986,366,137)
The Group is entitled to carry each individual tax loss forward to offset against taxable profits arising within
Others 2,307,822,874 5,725,662,591 five (5) years subsequent to the year in which the loss was incurred. At the balance sheet date, the Group
has accumulated tax losses of VND 209,089,551,342 (31 December 2021: VND 120,190,566,173) available for
CIT expense during the year 134,923,962,619 34,538,883,658 offset against future taxable profits. Details are as follows:
VND
Tax deduction (137,481,346) -
Originating Can be Tax loss Utilized up to 31 Forfeited Unutilized at 31
Under accrual of tax from prior years 1,156,397,708 - year utilized up amount December 2022 December 2022
to
CIT expense 135,942,878,981 34,538,883,658
30.2 Current tax 2017 2022 79,615,353,795 (79,615,353,795) - -
The current CIT payable is based on taxable profit for the current year. Taxable profit differs from profit 2018 2023 187,007,586,065 (139,291,089,461) - 47,716,496,604
as reported in the consolidated income statement because it excludes items of income or expense that 2019 2024 154,133,305,314 (120,305,057,441) - 33,828,247,873
are taxable or deductible in other years and it further excludes items that are not taxable or deductible.
2020 2025 109,548,112,552 (93,436,869,623) - 16,111,242,929
The Group’s liability for current tax is calculated using tax rates that have been enacted by the balance
sheet date. 2021 2026 6,421,880,784 (6,214,925,927) - 206,954,857
2022 2027 111,226,609,079 - - 111,226,609,079
TOTAL 647,952,847,589 (438,863,296,247) - 209,089,551,342

30. CORPORATE INCOME TAX (CONTINUED) 31. TRANSACTIONS WITH RELATED PARTIES
30.4 Tax losses carried forward (continued) Significant transactions with related parties during the year were as follows:
VND
Estimated tax losses as per the Group’s corporate income tax declaration for the year ended 31 December
Related party Transaction Current year Previous year
2022 have not been audited by the local tax authorities as of the date of these consolidated financial
statements. Lending 281,200,000,000 -
Ms. Le Thi My Vinh
Collect of lending 101,200,000,000 -
Tax losses for the year ended 31 December 2018 and 2019 have been amended in according to the guidance
of Decree 68/2020/ND-CP issued by Finance Ministry on 24 June 2020, supplementing the Clause 3, Article Lending 118,000,000,000 -
8 of Decree 20/2017/ND-CP issued by Finance Ministry on 24 February 2017 on tax administration for Mr. Tran Hoang Nam
Collect of lending 10,000,000,000 -
enterprises engaged in transfer pricing.
Sale of raw materials and merchandises - 47,013,674,000
Nakydaco
The Group has not recognized deferred tax assets for the accumulated losses as at 31 December 2022 due Purchase of merchandises - 2,800,525,000
to uncertainty of the Group’s future taxable profits.
Calofic Dividends received 62,700,055,368 106,800,579,335
31. TRANSACTIONS WITH RELATED PARTIES Rendering of services - 6,316,870,085
List of related parties that have a controlling relationship and significant transactions with the Company as Dabaco Sale of merchandises - 112,320,000
at 31 December 2022 is as follows Sale of raw materials,
Vibev 4,021,859,414 -
and merchandises and Service rendered
Related parties Relationship KDI Office rental income 1,414,792,982 1,363,636,363
Vietnam Vegetable Oils Industry Corporation Subsidiary Amounts due from and due to related parties at the balance sheet date were as follows:
VND
Kido Frozen Foods Joint Stock Company Subsidiary
Related party Transaction Ending balance Beginning balance
Tuong An Vegetable Oil Joint Stock Company Subsidiary
Short-term trade receivables
Kido - Nha Be Company Limited Subsidiary
Vibev Sale of raw materials 1,082,220,190 2,325,987
Kido Food One Member Company Limited Subsidiary
Other short-term
Kido Trading and Services Company Limited Subsidiary
receivables
Kido Long An Company Limited Subsidiary
Mr. Tran Hoang Nam Investment trust 97,000,000,000 -
TTV Investment-Trading Joint Stock Company (until November 2022) Former Subsidiary
Interest income 14,350,191,779 -
Lavenue Investment Corporation Associates jointly controlled
Ms. Le Thi My Vinh Interest income 2,448,493,151 -
Vibev Food and Beverage Joint Venture Company Limited Joint Venture
KDI Payment on behalf 1,478,229,017 -
Dabaco Food Processing Joint Stock Company Associates jointly controlled
KDL Office rental income - 19,055,803
Tan Binh Vegetable Oils Joint Stock Company (“Nakydaco”) Former other investment
Vibev Payment on behalf - 3,000,000
Kido Land Joint Stock Company (“KDL”) Common key personnel
115,276,913,947 22,055,803
Kido Investment Company Limited (“KDI”) Common key personnel
Short-term loan receivables
Mr. Tran Hoang Nam Shareholders of subsidiaries
Ms. Le Thi My Vinh Lending 140,000,000,000 -
Mr. Le Thi My Vinh Shareholders of subsidiaries
Mr. Tran Hoang Nam Lending 118,000,000,000 -
258,000,000,000 -
Long-term loan receivable
Mr. Tran Hoang Nam Lending 30,000,000,000 -


31. TRANSACTIONS WITH RELATED PARTIES (CONTINUED) 32. COMMITMENTS
Amounts due from and due to related parties at the balance sheet date were as follows (continued): Operating lease commitment
VND
Related party Transaction Ending balance Beginning balance
The Group leases land, offices and warehouses under operating lease arrangements. The minimum lease
commitment as at the balance sheet date under the operating lease agreements is as follows:
Short-term trade payables VND
Purchase of
Vibev (1,510,446,175) (2,325,987) Ending balance Beginning balance
merchandise
Other short-term payables Within 1 year 49,826,041,162 59,187,910,199
Board of Directors and Board of Supervision Allowance (23,840,000,000) (23,840,000,000) From 1 to 5 years 26,685,991,784 69,329,184,170
More than 5 years 16,585,966,548 15,961,230594
Remuneration of members of the Board of Directors paid during the year:
VND TOTAL 93,097,999,494 144,478,324,963
Individuals Position Current year Previous year Capital contribution obligation

Mr Tran Kim Thanh Chairman 2,456,000,000 96,000,000
Mr Tran Le Nguyen Vice Chairman 3,197,030,899 616,206,686 As at the balance sheet date, the Group had outstanding capital contribution obligation to subsidiaries and
investment in another entity amounting to VND 460,900,000,000.
Ms Vuong Buu Linh Member 1,770,000,000 -
Ms Vuong Ngoc Xiem Member 1,770,000,000 - 33. SEGMENT INFORMATION
Mr Tran Quoc Nguyen Member 1,180,000,000 -
Ms Nguyen Thi Xuan Lieu Member 684,024,719 531,605,731 A business segment is a distinguishable component of an enterprise that is engaged in manufacturing or
providing an individual product, service or a group of related products or services and that is subject to
Mr Nguyen Van Thuan Member 394,120,000 -
risks and returns that are different from those of other business segments. The Group’s business activities
Mr Nguyen Gia Huy Chuong Member 392,940,000 - include edible oil business, foods business and other activities.
Mr Nguyen Duc Tri Member 392,940,000 -
Geographical area-based segment is a distinguishable component of the Group. It engages in the course
12,237,055,618 1,243,812,417
of manufacturing or supplying products and services in a specific economic environment on which the
segment has risks and economic benefits different from that of other components. The operations of the
Salary of the Board management:
Group are implemented in Vietnam, therefore, the Group decided not to present the geographical segments.
VND
Individuals Position Current year Previous year This segment report includes items which are directly attributed to a segment as well as each segment on
Mr Tran Le Nguyen General Director 3,141,600,000 2,997,862,000 a reasonable basis. The unallocated items consist of assets, liabilities, finance income, finance expense,
Ms Vuong Buu Linh Deputy General Director 1,589,280,000 1,548,000,000 selling expense, general and administrative expense, other gains or losses and corporate income tax.
Ms Vuong Ngoc Xiem Deputy General Director 1,589,280,000 1,548,000,000 The primary segment reporting format is determined to be business segments including edible oil business,
Ms Nguyen Thi Xuan Lieu Deputy General Director 1,589,280,000 1,548,000,000 frozen business and other business.
Mr Wang Ching Hua Deputy General Director 1,589,280,000 1,589,280,000
Mr Mai Xuan Tram Deputy General Director 1,589,280,000 1,589,280,000
Mr Bui Thanh Tung Deputy General Director 1,589,280,000 1,589,280,000
Mr Tran Quoc Nguyen Deputy General Director 1,589,280,000 1,589,280,000
Mr Tran Tien Hoang Deputy General Director 1,589,280,000 1,589,280,000
Mr Ma Thanh Danh Deputy General Director - -
15,855,840,000 15,381,862,000
Salary of Board of Supervision:

VND
Salary and operating expenses of Board of Supervision 489,000,000 366,000,000


33. SEGMENT INFORMATION (CONTINUED) 33. SEGMENT INFORMATION (CONTINUED)
The following tables present revenue, profit and certain asset information regarding the Group’s business The following tables present revenue, profit and certain asset information regarding the Group’s business
segments: segments: (continued)
VND VND
Edible oil business Foods business Other business Total Edible oil business Foods business Other business Total
Previous year
Current year
Segment revenue
Segment revenue Sales to external
9,013,138,989,531 1,591,702,582,181 70,432,881,123 10,675,274,452,835
customers
Sales to external customers 10,462,835,313,473 1,924,498,794,425 399,821,237,911 12,787,155,345,809
Sales deductions (108,913,872,529) (69,496,109,548) - (178,409,982,077)
Sales deductions (137,795,191,212) (81,841,690,817) (32,334,978,744) (251,971,860,773) 8,904,225,117,002 1,522,206,472,633 70,432,881,123 10,496,864,470,758
Gross profit 1,227,550,385,146 809,834,658,324 13,629,885,097 2,051,014,928,567
10,325,040,122,261 1,842,657,103,608 367,486,259,167 12,535,183,485,036
Selling expenses (846,967,391,424) (342,999,277,441) (6,624,004,816) (1,196,590,673,681)
Gross profit 1,004,165,622,882 1,083,205,657,959 186,235,111,547 2,273,606,392,388 General and
(280,312,955,616) (61,292,005,481) 98,882,174,567 (242,722,786,530)
administration expenses
Selling expenses (635,106,159,453) (657,926,317,557) (152,992,374,206) (1,446,024,851,216)
Shares of profit of joint
104,500,092,281 2,929,876,212 3,040,755,851 110,470,724,344
General and administration ventures and associates
(292,977,260,036) (66,685,991,601) (49,499,629,377) (409,162,881,014)
expenses Finance income 159,919,428,645
Shares of profit of joint Finance expenses (193,571,933,683)

148,558,186,770 (2,833,031,055) (41,646,292,154) 104,078,863,561
ventures and associates Other loss (690,230,486)
Finance income 249,972,853,283 Profit before tax 687,829,457,176
Finance expenses (273,960,693,454) Segment assets 8,491,731,032,114 1,073,711,790,227 5,421,891,756,524 14,987,334,578,865

Other income 12,088,709,727 Reconciliation:
Elimination of
Profit before tax 510,598,393,275 (914,629,020,932)
intersegment receivables
Segment assets 8,892,044,809,653 1,159,303,011,099 5,813,075,087,098 15,864,422,907,850 Total assets 14,072,705,557,933
Segment liabilities 3,103,058,121,439 436,788,513,671 4,552,845,290,814 8,092,691,925,924
Reconciliation:
Reconciliation:
Elimination of intersegment Elimination of
(1,860,634,412,542) (914,629,020,932)
receivables intersegment payables
Total liabilities 7,178,062,904,992
Total assets 14,003,788,495,308
Segment liabilities 3,609,114,390,762 394,795,915,381 4,807,243,197,933 8,811,153,504,076 34. EVENTS AFTER THE BALANCE SHEET DATE
Reconciliation: There have been no significant events occurring after the balance sheet date which would require
adjustments or disclosures to be made in the consolidated financial statements of the Group.
Elimination of intersegment
(1,860,634,412,542)
payables
Total liabilities 6,950,519,091,534


31 March 2023

KDC Ar 2022 en (Final)

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CONTENTS

STRONG BELIEF IN INNOVATION

SOLIDIFIED INTERNAL RESOURCES

General information 10 Business results 52 Risk management 84 Report of Management 118

Public recognition 110

The Centralized Management model has both

THE DEVELOPMENT OF DISTRIBUTION CHANNEL SYSTEM

19.7% compared to 2022 76.3% compared to 2022

Head office address:

VISION - MISSION - CORE VALUES

VISION - MISSION - CORE VALUES

PIONEER - LEADING CREDIBILITY

CREATIVITY - INNOVATION DYNAMISM

HISTORY OF ESTABLISHMENT AND DEVELOPMENT

KIDO - A 30-YEAR PATHWAY WITH MULTIPLE HISTORICAL IMPORTANT

Opened the first bakery system. Increased charter

1993-1998: Building the foundation 1999-2003: Building differentiating factors

1993 1994-1998 2002 2003

HISTORY OF ESTABLISHMENT AND DEVELOPMENT

2004 2010-2012 2015

Continued to merge Vinabico into KDC.

2004-2008: Strengthening 2010-2014: Solidifying leading positions 2015-2018: Brand expansion

2005 2013-2014 2016-2018

The company received the Labor Medal

HISTORY OF ESTABLISHMENT AND DEVELOPMENT

Top 10 reputable food companies. Top 50 leading brands.

2019-2022: Growth from internal resources

Continued the mission of becoming the No.1 Food Group in Vietnam.

ORGANIZATION AND HUMAN ORGANIZATIONAL CHART

The Supervisory Board accompanies the Board

In order to create a balance between short-term

TEAM 01 TEAM 02 TEAM 03

ORGANIZATIONAL STRUCTURE (CONTINUED)

ROLES AND RESPONSIBILITIES OF EACH TEAM IN THE GROUP

TEAM 1 - BUSINESS TEAM

TEAM 2 - SUPPLY CHAIN MANAGEMENT (SCM)

ORGANIZATIONAL STRUCTURE (CONTINUED)

HUMAN RESOURCES STRATEGY ORIENTATION OF HUMAN RESOURCES

Institutional shareholders 154,632,515 (55.3%)

▶ TOTAL NUMBER OF SHARES

Foreign shareholders 71,765,167 (25.7%)

PPK . Company Limited 22,979,565

Liva Holdings Limited 13,200,000

370, Go O Moi, Quarter 2, Phu Thuan Ward, District 7, Ho Chi

OWNERSHIP IN SUBSIDIARIES KIDO FROZEN FOOD JOINT STOCK COMPANY

Business Registration Certificate No. 4103001557 issued by Ho Chi Minh City

Charter capital 541,600,000,000 VND.

Charter capital 338,796,480,000 VND.

Tuong An Vegetable Oil Joint Stock Company ranks

Business Registration Certificate No. 0300585984 issued by Ho Chi Minh City

Charter capital 1,218,000,000,000,000 VND. KIDO LONG AN CO., LTD

Vietnam Vegetable Oil Industry Corporation Charter capital 250,000,000,000 VND.

Charter capital 97,702,126,518 VND.

MEMBERS OF THE BOARD OF DIRECTORS

BOARD OF DIRECTORS (CONTINUED)

MEMBERS OF THE BOARD OF DIRECTORS (continued)

Mr. TRAN QUOC NGUYEN

Mr. NGUYEN VAN THUAN