Vietnam's leading trade firm Hapro appoints new general director

Hanoi Trade Corporation (Hapro), a leading producer and exporter of agricultural produces in Vietnam, has appointed deputy general director Duong Thi Lam as general director, effective from March 1, 2025.

Lam will replace Vu Thanh Son, who was relieved of duty due to reaching retirement age under a board of directors decision, Hapro (unlisted public companies market UPCoM: HTM) said in an announcement.

Lam, born in 1977, has a bachelor's degree in economics. She has nearly 26 years of experience in the field of finance-accounting, being chief accountant at Ngan Anh Export Goods Production and Trading Company (1999-2001), chief accountant at Banca Intellectual Property Company (2001-2005), auditor at VietnamAudit Company (2005-2008), internal auditor at Asia Pacific Breweries (August 2008-August 2009), and auditor at Mazars Vietnam (September 2009-March 2014).

From April 2014-April 2015, Lam was chief accountant of Vingroup, one of Vietnam's leading private firms. From May 2015-June 2018, she was deputy general director cum chief accountant of Thang Long GTC Joint Stock Company.

Lam became deputy general director cum chief accountant of Hapro since July 2018. On January 15, 2025, Hapro's board of directors approved Lam to resign from the position of chief accountant and appoint Nguyen Thu Hang as her replacement.

According to Hapro's 2024 governance report, Lam is also chairwoman of Hapro Liquor JSC, chairwoman of Hanoi Food JSC, a board member of Agricultural Product Import-Export Services JSC, a board member of Hanoi Trade Infrastructure Development Investment JSC, and chairwoman of An Loc Trading and Services Production Company Limited.

In 2024, Hapro's net revenue reached VND726.5 billion ($28.61 million), an increase of 63.4% over the same period last year. However, the company's operating expenses increased significantly in the year. Of this, financial costs rose two times to VND150 billion ($5.91 million), while business management costs went up 3.2 times to VND285.5 billion.

Minus taxes and fees, the company's after-tax loss was VND24.5 billion ($960,000), while the same period last year, it had a net loss of VND30.1 billion.

In 2024, Hapro targets revenue of VND462.5 billion and pre-tax loss of VND4.19 billion.