TPS received resignation letters from Le Quoc Hung, Ta Quang Luong, and Nguyen Thi Le Tung on 20/6, a week before the annual shareholders' meeting. All three joined the board in mid-2024.

TPS currently has 7 board members, but 4 have now resigned. Do Anh Tu resigned on 18/3, relinquishing his position as chairman.

TPS has not yet included the dismissal of Tu and the other three members on the agenda for the annual general meeting scheduled for 27/6.

TPS's leadership has undergone significant changes in the past three months. In addition to the board resignations, Bui Thi Thanh Tra was dismissed as general director and legal representative in mid-April due to "organizational restructuring." Dang Si Thuy Tam was appointed as her replacement on the same day.

This year, TPS projects revenue of 1,379 billion VND and a profit after tax of 111 billion VND, decreases of nearly 35% and 71% year-over-year, respectively. The company plans to raise 3,000 billion VND through bonds to restructure debt and increase capital.

Company leadership expects strong growth in market points and liquidity, but acknowledges increasing competition within the industry and ongoing challenges in the bond market. This plan is based on consolidating business segments with a focus on risk management and capital safety.

In the first quarter, TPS earned 446 billion VND, achieving over 32% of its annual target. However, the company reported a loss after tax of 7 billion VND, compared to a profit of over 75 billion VND in the same period last year.

Phuong Dong