Duc Giang Chemical Group announced this information in documents prepared for its annual general meeting on 13/8. Along with the proposed dismissals of Luu Bach Dat and Nguyen Quoc Trung, the company will propose the election of two new individuals to replace them. The list of candidates has not yet been disclosed.

On 23/7, the Investigation Police Agency of the Ministry of Public Security initiated legal proceedings and issued travel bans for three Duc Giang Chemical leaders: Luu Bach Dat, Phung Trong Tu, and Nguyen Quoc Trung. In addition to serving as a board member, Luu Bach Dat is also the company's general director.

Duc Giang Chemical's factory is located in Tang Loong industrial park (Tang Loong commune, Lao Cai province). Photo: Ngoc Thanh

Following these developments, Duc Giang Chemical's Board of Directors currently comprises three members: Chairman Dao Huu Kha, Nguyen Thi Thu Ha, and Pham Duy Tung. Dao Huu Kha, the younger brother of former leader Dao Huu Huyen, assumed his position in May.

This chemical sector enterprise has experienced significant leadership changes since the beginning of the year. In March, former chairman Dao Huu Huyen and his son, Dao Huu Duy Anh, were prosecuted and temporarily detained for a series of violations, including illegal waste dumping and mineral exploitation. Individuals associated with Dao Huu Huyen currently hold approximately 45% of Duc Giang Chemical's capital.

For this year, the company plans to present shareholders with a target of 1,600 billion VND in after-tax profit, a 50% decrease from last year. By the end of the first half of this year, the enterprise had achieved 61% of this plan, equivalent to a profit of 871 billion VND.

The Board of Directors also plans to pay an 80% total dividend for 2025, amounting to over 3,000 billion VND. Previously, the enterprise had advanced a 30% dividend to shareholders.

Established in 1963, Duc Giang Chemical was formerly under the General Department of Chemicals. The enterprise was privatized in 2003. The company primarily operates in the chemical product sector, manufacturing items such as phosphoric acid, yellow phosphorus, fertilizers, detergents, and caustic soda (NaOH).

By Trong Hieu