PV PAINT Successfully Holds the 2026 Annual General Meeting of Shareholders: Targeting Breakthrough Revenue of 420 Billion VND and Pioneering Advanced Coating Materials Technology

(PV PAINT) – On 8th May 2026, at Pullman Saigon Centre, Ho Chi Minh City, Petro Vietnam Paint Joint Stock Company (PV PAINT) successfully held the 2026 Annual General Meeting of Shareholders. During the Meeting, the Executive Board presented a comprehensive overview of business operations, including insightful market analysis, and set an ambitious revenue target of 420 billion VND for 2026.

The General Meeting was honored by the attendance of two major shareholders:

• Mr. Le Van Sy – Head of Science, Technology and Digital Transformation Department of Petrovietnam and General Director of Petrovietnam Maintenance and Repair Corporation (PVMR),
• Mr. Nguyen Van Dung – General Director of Hai Phong Paint Joint Stock Company.

Overview of the General Meeting at Pullman Hotel.

The Presidium overseeing the General Meeting included Mr. Do Huy Hoang – Chairman of the Board of Directors and Chairman of the Meeting; Mr. Nguyen Van Dung – Vice Chairman of the Board of Directors; and Mr. Vu Duy Cuong – General Director of PV PAINT.

The Presidium (from left to right: Mr. Vu Duy Cuong, Mr. Do Huy Hoang, and Mr. Nguyen Van Dung).

1. Looking Back at 2025 – Growth Amid Challenges:

In the 2025 Business Performance Report, Mr. Vu Duy Cuong, General Director of PV PAINT, described 2025 as a year of “successfully overcoming challenges”. Although total revenue reached 295.3 billion VND (equivalent to 84.38% of the target), PV PAINT still recorded a profit growth of 10.05%.

Key highlights:

• Marine and Industrial Paints: Significantly exceeded expectations with revenue of 131.1 billion VND (141% of the target), reinforcing PV PAINT’s leading position in the traditional segment.
• Decorative Coatings and Fishing Vessel Paints: Achieved impressive growth, reflecting a correct shift in the company’s product structure.

2. Internal Capability Analysis:

In his presentation to shareholders, Mr. Vu Duy Cuong analyzed the internal factors of PV PAINT. He emphasized that PV PAINT’s key Strength lies in its strategic partnerships with Chugoku Marine Paints (Japan) and Hai Phong Paint Joint Stock Company. However, there are some Weaknesses, due to limited decorative paint distribution network, high production and management costs, and marketing activities that have not yet been sufficiently prioritized compared to foreign competitors. In addition, PV PAINT continues to face Challenges arising from the impact of the Chemical Law, continuous fluctuations in raw material prices, intense competition from international paint manufacturers, and increasing pressure from the increasingly saturated traditional coatings market.
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3. 2026 Targets: 420 billion VND Revenue Goal, Entry into the 1.38 billion USD Coating Materials Market, and the Ambition to Break Through:

The General Meeting approved the 2026 business plan with ambitious growth targets: Revenue of 420 billion VND (an increase of 42.2% compared to 2025) and Pre-tax profit of 13.9 billion VND (an increase of over 56%). The company’s strategic priorities will focus on:

• Shifting the product structure: Transitioning from traditional paint products to coating materials, expanding the business categories.
• Pioneering Nano technology (Graphene Coating): This segment was particularly emphasized by the General Director as a key differentiator, delivering superior durability and protective performance, giving PV PAINT the advantage to dominate high-tech segments such as anti-static, fire-resistant, and stain-resistant.
• Expansion of OEM Models.

Mr. Vu Duy Cuong, General Director of PV PAINT, proposed solutions for achieving the 2026 goals to the Shareholders.

4. Management Solutions – “Management by Objectives and Cost Optimization”:

The General Director proposed decisive implementation strategies:

• Changing management mindset: A comprehensive shift from time management to Management by Objectives (MBO). All targets are quantified and cost-responsibility is assigned to each department and individual.
• R&D as the Backbone for PV PAINT to enter Vietnam’s 1.38 billion USD coating materials market:
  • Strengthening international cooperation for technology transfer in environmentally friendly coating materials and thermal insulation paints for smart glass, pipelines, and related applications.
  • Expanding research collaboration with leading global coating material research and development centers, as well as faculties of Materials Science & Technology at Vietnamese universities.
• Flexible business mechanisms: Developing superior sales and after-sales policies to maintain customer loyalty and expanding the customer base in transportation infrastructure projects.
• Increasing Digital marketing activities and Brand awareness.
• Investment: Modernizing testing and production equipment; enhancing coating material supply capabilities.

5. Commitment through consensus:

Mr. Le Van Sy – Head of Science, Technology and Digital Transformation Department of Petrovietnam, General Director of PVMR, acknowledged the achievements and development orientation that the PV PAINT’s Executive Board has been implementing. In his new position at the Science, Technology and Digital Transformation Department of Petrovietnam, he affirmed his continued support for PV PAINT in overcoming market challenges and achieving greater success in the future.

Mr. Le Van Sy – Head of Science, Technology and Digital Transformation Department of Petrovietnam, General Director of PVMR, delivered a speech.

Mr. Nguyen Van Dung – General Director of Hai Phong Paint Joint Stock Company, highly evaluated the market analysis and the proposed solutions for achieving 2026 objectives presented by Mr. Vu Duy Cuong, General Director of PV PAINT.

Mr. Nguyen Van Dung – General Director of Hai Phong Paint Joint Stock Company outlined PV PAINT’s development orientations toward 2030.

Mr. Nguyen Van Dung also affirmed the commitment of Hai Phong Paint, as a major shareholder, to continuously accompany and support PV PAINT’s Executive Board in the process of implementing objectives. He also expressed his expectation that PVMR would continue to create favorable conditions and strengthen support for PV PAINT, especially for the expansion project of PV PAINT’s Factory to maximize the utilization of existing unused land resources, supporting PV PAINT’s long-term goal of listing on the stock exchange and achieving revenue of 1 trillion VND by 2030.

On behalf of the Board of Directors, Mr. Do Huy Hoang – Chairman of the Board of Directors of PV PAINT, expressed sincere gratitude and appreciation for the trust and support from the company’s two major shareholders during the current period of volatility and challenges. This is a great source of motivation for PV PAINT to remain committed to its sustainable development goals.

Mr. Do Huy Hoang – Chairman of the Board of Directors of PV PAINT – expressed sincere appreciation for the continued support and trust from the Company’s Shareholders.

Mr. Do Huy Hoang affirmed that the Board of Directors would continue to closely accompany the Executive Board, providing maximum support in terms of mechanisms, resources, and development orientation, enabling the Executive Board to fully leverage its management capabilities, particularly in the research and development of next-generation coating materials and comprehensive digital transformation initiatives.
The success of PV PAINT’s 2026 Annual General Meeting of Shareholders stands as a testament to the Company’s spirit of unity and aspiration to become one of the top five providers of surface protection solutions using advanced coating materials.

The Board of Directors, Supervisory Board, and Executive Board of PV PAINT took a commemorative photo at the General Meeting.

Shareholders, the Board of Directors, Supervisory Board, Executive Board of PV PAINT, and Delegates took a commemorative photo at the General Meeting.

With strong support from shareholders and the determination of the Executive Board together with all employees, PV PAINT confidently affirms “PV PAINT does not simply sell paint, PV PAINT provides asset protection solutions for Customers“.