(seafood.vasep.com.vn) Minh Phu Seafood Corporation (HOSE: MPC), widely known as Vietnam’s “shrimp king,” has released its 2025 Annual General Meeting documents, with the shareholders' meeting scheduled for June 21.
In its 2025 business plan, MPC sets an ambitious target of producing 60,000 metric tons of shrimp, generating VND 15,667.2 billion in revenue, and achieving VND 997 billion in after-tax profit. This comes after two consecutive years of net losses—VND 105 billion in 2023 and VND 190 billion in 2024.
The key question for investors is what drives such optimism amid current uncertainties, especially shifting global tariff policies.
MPC’s consolidated financial results for Q1/2025 show signs of recovery. The company posted a net profit of VND 17.6 billion, up 144% year-on-year. Revenue for the quarter reached VND 2,856 billion, a 2.4% increase from the same period in 2024.
The company attributes this improvement to better performance across its commercial shrimp farming and breeding operations, which have helped reduce losses compared to previous periods.
Going forward, MPC plans to reinforce its vertically integrated value chain—ranging from broodstock development and farming to processing, exporting, and distribution. It will roll out centralized farming zones focused on organic shrimp, extensive farming, high-tech intensive farming, and rice–shrimp models, in partnership with local stakeholders. These zones will be equipped with full water supply and drainage infrastructure and technical services.
A key strategic focus will be developing high-quality shrimp broodstock, which MPC identifies as the determining factor in over 60% of farming success. The company plans to establish a production zone in Ninh Thuan province for parent black tiger and whiteleg shrimp lines with high disease resistance and rapid growth. This zone will also house hatchery production and live feed (rotifers and algae) facilities for shrimp larvae.
As part of its capital strategy, MPC also proposes an employee stock ownership plan (ESOP) involving 154,700 shares (equivalent to 0.04% of total outstanding shares) at an issue price of VND 10,000 per share. The total issuance value will be approximately VND 1.55 billion. These shares will be subject to a five-year lock-up period following issuance, which is expected to take place later in 2025 once the State Securities Commission confirms receipt of the full documentation.