KDC - Ar2023 - en - Web (Final)

Unleashing potential
EXPANDING HORIZONS
ANNUAL REPORT 2023
TABLE OF CONTENTS
ENHANCE GOVERNANCE
ENHANCE BRAND
CORPORATE GOVERNANCE
DRIVING SUSTAINABILITY
FOR TOMORROW’S SUCCESS
CONSOLIDATED FINANCIAL STATEMENTS
SUSTAINABLE FOUNDATION
SUSTAINABLE GROWTH
GROUP INTRODUCTION INNOVATION UNLOCKS
OPPORTUNITIES
STRATEGIC REPORT
GROUP INTRODUCTION STRATEGY REPORT CORPORATE GOVERNANCE CONSOLIDATED FINANCIAL STATEMENTS

Chairman’s Message 6 CEO’s Message 52 Corporate governance 92 General Information 124
General Information 12 Business results 58 Risk management 94 Report of the Board of Management 126
Vision - Mission - Core Values 14 Corporate strategy 64 Management of environmental protection 96 Independent Auditor's Report 128
History of establishment and development 18 Market strategy 68 Report of the Board of Directors & the Supervisory Board 106 Consolidated balance sheet 130
Organizational structure 24 Customer strategy 74 Consolidated income statement 133
Shareholder structure 32 Product strategy 76 Consolidated cash flow statement 134
Business networks and subsidiaries 34 Environmental and social responsibility report 78 Notes to the consolidated financial statements 136
Board of Directors 40 Outstanding programs in each business unit 80
Supervisory Boards 44 Evaluating growth potential in each business unit 82
Board of Management 46 Business model 84
Digitalization, automation and E2E platforms 86
BUILDING TRUST
SHARING PROSPERITY
INTEGRATED COMMITMENT TO THE COMMUNITY
SHARING RESPONSIBILITY IN COMMUNITIES

Activities for the community 116
Awards and Recognition 118
SUSTAINABLE FOUNDATION
SUSTAINABLE GROWTH
GROUP INTRODUCTION
GROUP INTRODUCTION ANNUAL REPORT 2023
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KIDO GROUP
CHAIRMAN’S MESSAGE
BUILDING UPON 30 YEARS OF SUSTAINABLE DEVELOPMENT AND A STRONG FOOTHOLD IN THE ESSENTIAL CRAFTED A
FOOD MARKET, WE ARE COMMITTED TO LEVERAGING BOTH INTERNAL AND EXTERNAL RESOURCES TO ACHIEVE
OUR OBJECTIVES. OUR PRIMARY FOCUS IS ON DELIVERING LONG-TERM VALUE TO OUR SHAREHOLDERS
ROBUST 2024
PLAN AIMING FOR 13,000 BILLION VND 800 BILLION VND
THROUGH ALL PRESENT AND FUTURE BUSINESS ACTIVITIES OF THE KIDO GROUP. A NET REVENUE 50.3% SURGE FROM 2023 PRE-TAX PROFIT TARGET
This ambitious goal not only challenges us to navigate market pressures but also serves as a driving force for our team to
build resilience internally amidst economic volatility.
Dear Shareholders!
WHAT IS THE REASONING BEHIND SETTING THE AFOREMENTIONED GOAL?
On behalf of the Board of Directors, I want to express
our sincere thanks to our shareholders and investors
for their continuous support during tough times. Your
partnership has been essential in enabling KIDO to
achieve significant market breakthroughs and solidify its Besides the key factors influencing our goals, KIDO Group is equipped with robust financial
position as a leader in Vietnam’s essential food industry. resources, a skilled marketing and R&D team, a wide-reaching distribution network,
advanced production facilities, efficient logistics, and state-of-the-art technology. With
In 2023, we encountered numerous challenges our solid foundation, extensive experience, and in-depth understanding of each business
stemming from both domestic and global economic field, particularly our adaptable business operations in dynamic market conditions, we are
shifts. These included a slowdown in GDP growth, well-positioned to swiftly and effectively break through barriers.
disruptions in global trade and investment, inflationary
pressures, geopolitical conflicts, and the effects of
climate change. As we enter 2024, it’s evident that
many of the unresolved issues from the previous year
persist, indicating that the economy is likely to face
continued unpredictability and complexity.
In terms of management, our focus in 2024 will be on strengthening the careful
Amidst a challenging economic landscape, we’ve monitoring of internal operational costs by carefully overseeing expenditure at every
crafted a robust 2024 plan aiming for a net revenue stage with detailed plans. Additionally, we will tackle expenses in the market to enhance
of 13,000 billion VND, a 50.3% surge from 2023, the Group’s total revenue. We will establish clear formulas and regularly convey important
with a pre-tax profit target of 800 billion VND. Our instructions from senior management, cascading them down to employees at all levels.
strategy involves diversifying our product portfolio Furthermore, we aim to enhance digital transformation efforts through our management
and leveraging digital technology transformation system, fostering two-way communication between the market and operational teams.
to enhance competitiveness. By intensifying our Lastly, we will intensify weekly training sessions to enhance staff capacity.
presence in the food sector and seizing market
opportunities, we aim to solidify our position as a
market leader in each business unit. This underlines
our commitment to becoming the No.1 food group in
Vietnam and expanding our footprint globally.
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KIDO GROUP
CHAIRMAN’S MESSAGE
(continued)
Specifically, we have established clear goals for the growth of each business unit as outlined below:
FOR THE OIL AND BUTTER BUSINESS UNIT
Cooking oil (Retail channel)
As previously mentioned, 2024 is expected to pose continued economic challenges. Within the oil business unit,
intense competition for market share among multinational corporations persists, alongside ongoing fluctuations
in market purchasing power and exchange rates. Nevertheless, with 47 years of market presence and a strong
reputation, the Tuong An oil business unit remains the Group’s core revenue-generating unit. It remains a dominant
presence in the essential food sector, solidifying its crucial role in our business operations.
Butter
Continuously research and innovate to create new products that cater to various consumer needs, spanning FOR THE OIL AND BUTTER BUSINESS UNIT
from cooking and baking to direct consumption. Our development and expansion strategies are anchored in our
longstanding commitment to being recognized as “Vietnam’s No. 1 Butter” over the past 11 years. Cooking oil (Commercial, industrial and export channels)
Continuing to highlight our retail channel strengths, enhancing convenience in customer service, improving The Group leverages its extensive factory system, seaports, tanks, and warehouses, all equipped with substantial
product quality and packaging to align with market demands are important tasks for 2024. Additionally, reserves meeting strict standards set by major players in the global and domestic oil markets. Furthermore, proactive
optimizing our sales team structure to capitalize on market opportunities and drive revenue and efficiency for initiatives are undertaken to enhance the efficiency of our business model. This includes engaging with businesses to
the Group remains a key focus in 2024. expand production capacity, widen coverage, generate momentum for growth, and increase market share. KIDO Nha Be
specializes in serving the B2B segment.
Vocarimex will continue in executing its business model transformation roadmap aligned with the Group’s direction set
since 2023. This involves ramping up investment efforts, with a particular focus on pursuing and executing M&A deals.
Concurrently, efforts will be made to optimize organizational structures, enhancing competitiveness to establish a strong
foothold and laying the groundwork for future development strategies and strategic vision.
FOR THE SPICE BUSINESS UNIT
As Tuong An and KIDO strive to solidify their leading positions in the oil business unit, they pursue a strategy
of diversifying into multiple business units and fostering holistic growth. Embracing ambitious aspirations,
symbolized by the Dream brand in Vietnamese cuisine culture, they have recently ventured into the spice business
unit, introducing new products such as fish sauce and seasoning powder. This marks a significant milestone in
their journey towards realizing their aspirations.
Following its successful launch in the South in December 2023, the business unit expanded nationwide in March
2024 due to positive feedback and strong sales performance. We will continue to gather market feedback
and refine our existing product portfolio to achieve widespread penetration across the industry nationwide.
Moreover, leveraging the core strengths of the oil business unit and our advantage of 450,000 points of sale
in the essential food sector, Tuong An will introduce new product lines focusing on three categories: essential
spices, convenient seasonings, and dry foods. This strategic move aims to facilitate easy access to points of
sales, reduce operational costs, and offer consumers a diverse range of products to choose from.
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KIDO GROUP
CHAIRMAN’S MESSAGE FOR THE ICE CREAM BUSINESS UNIT
(continued)
Following our commitment to implementing strategies aimed at expanding market share and sustaining our
leading position in the business unit, we achieved a notable increase in the ice cream market share in 2023, rising
from 44.5% to 47.6%. Specifically, the Merino brand contributed 25.9%, while Celano accounted for 19.6% (*).
FOR THE BAKERY BUSINESS UNIT
Building on the successes of 2023 and 2024, our primary focus will be on market expansion and broadening
distribution channels to reach new customers. We aim to widen the gap in market share with competitors,
The bakery business unit remains a cornerstone of the Group’s growth, representing a key business area for maintaining our leadership position in the business unit. This will be achieved through targeted strategies:
many years. Within just two years of re-entering the market, we have successfully established new standards for
consumers with our “Fashionable Enjoyment” bakery products. Additionally, we are actively exploring potential
products from around the world, bringing them to Vietnam through our range of long-lasting cake products. Introduce numerous new products, particularly focusing on the high-end
In the near future, the Group will persist in: segment, aligning with evolving consumer preferences and the growing
1 demands of customers, especially among young people. This initiative aims
to enhance the brand’s influence and improve the overall effectiveness and
efficiency of the company’s operations.
Invest in machinery and factory equipment, and actively procure raw
1
materials to ramp up production and meet market demand.
Reposition the brand, enhance both quality and design to deliver greater
2
value to both existing and new customers.
Stay attuned to consumer trends, adapting and introducing products that
2
cater to Vietnamese preferences, ranging from snacks to full meals.
Invest and improve our modern machinery to maximize the production and
3
meet market demands more effectively.
Assert its dominance in the Vietnamese confectionery sector through four
3 main offerings: Fresh cakes, Western-style cakes, dumplings, and festival
gift sets.
4 Concentrate on developing two major markets: Take-home and To-go.
Enhance our partnerships with international collaborators and pursue joint
4 ventures, further solidifying our role as the exclusive and official distributor
of modern, trendy products aligned with emerging global consumer trends. Persist in executing promotional campaigns to boost ice cream consumption,
5
with a particular emphasis on encouraging Bring-Home Ice Cream purchases.
In 2023, a significant achievement for the business unit was KIDO’s acquisition of a 68% stake in Tho Phat, a
well-established dumpling brand with 37 years of market presence. This marks a critical moment as Tho Phat
will serve as a valuable asset, bolstering KIDO’s expansion efforts in the bakery and food industry. This strategic Dear Shareholders,
move plays a crucial role in realizing KIDO’s set objectives.
Building upon 30 years of sustainable development and a strong foothold in the essential food market, we are committed
For Tho Phat, the primary strategy will focus on expanding product offerings, particularly through the “MiniBao” to leveraging both internal and external resources to achieve our objectives. Our primary focus is on delivering long-term
stores and supplier network. We aim to diversify products to meet consumer demand for delicious, convenient, and value to our shareholders through all present and future business activities of the KIDO Group.
nutritious food options. Additionally, we plan to extend our market reach to the Central and Northern regions, ensuring
Tho Phat products are available nationwide. Increasing the number of MiniBao stores will enhance the product and With a dedicated and experienced team, I look forward to the continued support and partnership of our shareholders,
brand image. We will also optimize the promotion of KIDO Group’s brands, leveraging MiniBao as a distribution channel investors, and customers as we embark on a new journey: the next chapter in KIDO Group’s 30-year legacy. Together,
for all products within the Group’s ecosystem. let’s conquer new heights and achieve success.
The Mid-Autumn Festival season remains pivotal in driving industry-wide revenue growth. In addition to investing in Best wishes to you
equipment, machinery, flavor diversity, and careful packaging design, we will fully leverage our dumpling business unit HEALTH - HAPPINESS - SUCCESS!
store chain to enhance our competitive edge. This approach helps reduce channel opening costs while boosting efficiency
in promotion and sales activities, resulting in a unique and dynamic channel system exclusive to KIDO. Simultaneously, we
will strengthen relationships with our business partners (B2B), aiming to provide consumers nationwide with a fulfilling CHAIRMAN - TRAN KIM THANH
and meaningful Tet holiday season through groundbreaking new flavors and top-notch service from the Group.
(*) According to market research data from Euromonitor International 2023
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KIDO GROUP
GENERAL INFORMATION BUSINESS LINES ACCORDING TO THE VIETNAM ECONOMIC SECTOR SYSTEM
Industry Industry
Name of industry, Business Line Name of industry, Business Line
code code
COMPANY OVERVIEW Processing and preserving of fruits and vegetables

4321
Installation of electrical systems (except for mechanical
1030 - Details: Processing agricultural products and food (Not processing, waste recycling, electroplating at the office)
operating at the head office) 4329 Installation of other construction systems
TRADING NAME Processing milk and dairy products 4330 Completion of construction works
1050
(Doesn’t work at headquarters)
4390 Other specialized construction activities
Vietnamese name CONG TY CO PHAN TAP DOAN KIDO Manufacture of starch and starch products
1062 4632 Wholesale of food (except rice, cane sugar, beet sugar and
English name KIDO GROUP CORPORATION (Main) not operating at headquarters)
Manufacture of cakes from flour
1071 4633 Wholesale of beverages (except alcoholic beverages)
Abbreviation name KIDO GROUP 4641 Wholesale of fabrics, ready-made goods, shoes
Manufacture of pasta, noodles and similar products
1074 Wholesale of other household goods (except books,
Business registration No. 4103001184 issued by the Department of Planning and Investment of Ho Chi Minh (Doesn’t work at headquarters) 4649
newspapers, magazines, pharmaceuticals)
Certificate City on September 6, 2002 and according to the revised BRC 1075
Producing dishes, ready-to-eat food
(Doesn’t work at headquarters) 4659 Wholesale of other machinery, equipment and spare parts
Business code 0302705302 Manufacture of other foods n.e.c. Financial services support activities n.e.c
1079 6619 - Details: Investment consulting (except financial, accounting
The Company’s shares are listed on the Ho Chi Minh City Stock Exchange under the Listing and legal advice)
Producing non-alcoholic beverages, mineral water
Listing information License No. 39/UBCK-GPNY issued by the State Securities Commission on November 18, 1104
(Doesn’t work at headquarters) Installation of water supply, drainage, heating and air-
2005 with the stock trading code is “KDC” conditioning systems (Except for mechanical processing,
Wholesale of other installation materials and equipment in
4663 waste recycling, electroplating at the office; excluding
Charter capital 2,898,063,160,000 VND construction
Retail sale of games and toys in specialized stores (with
4322
installation of refrigeration equipment (freezing equipment,
cold storage, ice machine, air conditioner, water chiller) use
4764
permitted content) R22 refrigerant in the field of seafood processing)
(In words: Two thousand eight hundred ninety-eight billion sixty-three million one
hundred sixty thousand dong) 4311 Demolition Manufacture of cocoa, chocolate and confectionery
1073
4312 Site preparation (doesn’t work at headquarters)
Head office address 138-142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh City
Phone number (84-28) 3827 0468
Fax (84-28) 3827 0469 GENERAL INTRODUCTION

Website: www.kdc.vn Established in 1993, KIDO was formerly known as Kinh Do oil per year at the Tuong An Oil Factory in Phu My, Ba Ria - Vung
Construction and Food Processing Co., Ltd. The company mainly Tau. Additionally, there is a capacity of 150,000 tons of refined oil
operates in the field of production, processing and distribution per year at Vinh-Nghe An Oil Factory, and KIDO Nha Be Oil Factory
of consumer food products such as cooking oil, ice cream, (formerly Golden Hope Nha Be). Each year, the capacity at the
confectionery, snack food and beverage. KIDO has officially Vocarimex Oil Factory reaches 130,000 tons of refined oil, 120,000
MAIN LINE OF BUSINESS operated under the model of a JSC since 2002 with a charter tons of finished oil, and 4,000 tons of sesame oil. Furthermore,
capital of VND 150 billion. KIDO benefits from its subsidiary’s assets, including a warehouse
system spanning nearly 10,800 m2, a liquid tank capacity of 22,300
The stages of formation and development have brought many
m3, and four wharves at Nha Be Port capable of handling cargo up
good results.
to 20,000 DWT and 5,000 tons of oil.
1 Wholesales food;
1993 - 2003 Building foundation and promoting forte. Continuing its mission to become the No.1 food group in
2004 - 2014 Strengthening and affirming position. Vietnam and expand into Southeast Asia, KIDO has established
a comprehensive retail distribution network nationwide. This
2015 - 2023 Brand expansion and growth from internal resources. network offers a diverse range of essential, convenient, and
Specialize in the production and trade of food and beverage products, including
2 Currently, KIDO operates a variety of production facilities across unique consumer goods, available at 450,000 points of sale of dry
ice cream, dairy products like milk, non-alcoholic beverages, and mineral water;
different locations. These include a flour cake factory in District products and 120,000 points of sale of frozen products.
12, Ho Chi Minh City, with an annual production capacity of 19,044
By adopting a flexible approach in sales channels nationwide,
Focus on the production, trade, and export of products derived from oils, animal tons. Additionally, there is a dumpling factory situated in Hiep
including GT, MT, KA, CVS, online channels, as well as e-commerce
and vegetable fats, oilseeds, and coconut jelly; engaging in the manufacturing Phuoc Industrial Park, Nha Be district, covering an area of 20,000
3 platforms such as Lazada, Shopee, Tiki, and E2E Official TikTok,
m2 and capable of producing up to 10,000 tons annually. KIDO
and trading of various types of packaging materials; exporting raw materials KIDO aims to further expand its market presence. The focus is
also operates two frozen food factories in Bac Ninh and Cu Chi.
to support the processing activities of vegetable oil business unit. on enhancing premium offerings and diversification to meet the
The total production capacity supplied to the market includes
diverse consumption needs of consumers of all demographics
21 million liters of yogurt per year, 24 million liters of ice cream
throughout the day, both locally and internationally.
per year, 15,000 tons of dumplings and steamed buns per year,
250,000 tons of refined oil per year, and 450,000 tons of soybean
1 2 3 4 5 14 15
KIDO GROUP
VISION - MISSION - CORE VALUES
MISSION
VISION | FLAVOR YOUR LIFE
For CONSUMERS
KIDO’s mission to consumers is to provide convenient,

affordable products including common and essential
foods, supplements and beverages. We provide safe,
BECOME THE NO. 1 FOOD CORPORATION IN VIETNAM AND EXPAND TO SOUTHEAST ASIA delicious, nutritious, convenient and unique foods
BY “FLAVORING YOUR LIFE” AND “FILLING IN VIETNAM KITCHEN” WITH ESSENTIAL, to all our customers to stay at the forefront of the
SAFE, NUTRITIOUS, CONVENIENT AND UNIQUE PRODUCTS. food market.
For PARTNERS
With partners, KIDO’s mission is to create sustainable

values for all members of the supply chain through
innovative products. We aim for a harmonious profit
for all parties, improving processes for quality and
productivity to create sustainable development.
For SHAREHOLDERS
To shareholders, KIDO’s mission is to allocate capital to

maximize shareholder value in the long term and manage
risks to create stability and confidence in investments,
bringing expected benefits to shareholders.
For EMPLOYEES
We always incubate and create all conditions to

satisfy the needs and expectations at work in order
to promote the creativity, dedication and enthusiasm
of our employees. Therefore, KIDO always has a
dynamic, creative, loyal, adaptable and reliable staff.
For COMMUNITY
To contribute to the development and support of

the community, we actively create, and actively
participate in and contribute to community and
social-oriented programs. We actively participate in
activities for society, community and environmental
protection towards sustainable development.
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KIDO GROUP
VISION - MISSION - CORE VALUES (continued)
CORE VALUES
QUALITY
HAVE A VISION
CHARACTERISTICS
PIONEER - LEADING CREDIBILITY
CREATIVITY - INNOVATION DYNAMIC FEATURES

1 2 3 4 5 18 19
KIDO GROUP
HISTORY OF ESTABLISHMENT AND DEVELOPMENT
KIDO - A JOURNEY OF OVER 30 YEARS WITH NUMEROUS HISTORICAL

MILESTONES, CREATING A DISTINCTIVE IDENTITY
1999-2001
» Opened the first bakery system.

CORRESPONDING TO EACH STAGE OF DEVELOPMENT, KIDO HAS MARKED ITS OWN
FOOTPRINTS, AFFIRMING ITS TRUE VALUE WITH ITS CREATIVE, DYNAMISM, AND PIONEERING » Increased charter capital to 51 billion VND, expanded
factory area to more than 40,000 m2.
VISION ON THE WAY TO CONQUER VIETNAM MARKET AND GO TO THE WORLD.
» The company’s products were exported to the US, France,
Canada, Germany, Japan, Thailand, Singapore...
Building the foundation Building differentiating factors
1993-1998 1999-2003
1993 1994-1998 2002 2003
» Formerly named Kinh Do Construction and Food » Invested in building a new factory with an area » Kinh Do JSC was established with charter capital » Acquired Wall’s ice cream factory from
Co. Ltd, the company operated a snack cake of 6 hectares; Invested in cookie production of 150 billion VND. Unilever Group and established KIDO Co. Ltd,
manufacturing and trading facility (100m2) in line, bread production line, industrial sponge developed 2 brands of Merino and Celano.
District 6, Ho Chi Minh City with 70 workers and cake and put chocolate candy production line
an investment capital of 1.4 billion VND. into operation. » Imported chocolate production line (1 million
USD) and increased charter capital to 200
» Launched snack products, cookies, fresh billion VND.
cakes, mooncakes, chocolate.
1 2 3 4 5 20 21
KIDO GROUP

(continued)
2004 2010-2012 2015
» Established Kinh Do Binh Duong Company. » Kinh Do was voted as National Brand for the 2nd » Signed the principal contract to transfer
time. the confectionery business to Mondelēz and
» Northern Kinh Do Company officially listed on officially entered the essential food industry
the stock market (Stock code: NKD). » Merger of Northern Kinh Do Company into Kinh and officially changed its name to KIDO Group
Do JSC. Continued to merge Vinabico into KDC. Corporation.
Strengthening competitive edge Solidifying leading positions Brand expansion
2004-2008 2010-2014 2015-2019
2005 2006-2008 2013-2014 2016-2019
» Kinh Do JSC officially listed on the stock exchange » The company received the Labor Medal » Received the Second-Class Labor Medal. Voted » Combined two large enterprises in the cooking oil
(Stock code: KDC). class III, was voted for the famous brand in as National Brand for the 4th time consecutively. business unit, Tuong An and Vocarimex, into the
Vietnam, and National Brand. Group. KIDO acquired 51% shares of Golden Hope
» Launched of Solite sponge cake. » No.1 brand in the confectionery industry and in Nha Be and changed its name to KIDO Nha Be.
the Top 10 famous brands in Vietnam.
» Top 10 reputable food companies.
» Kido Foods led the ice cream market; Tuong An

ranked 2nd and KIDO Nha Be ranked 3rd in terms
of cooking oil market share.
1 2 3 4 5 22 23
KIDO GROUP

(continued)
2020-2021
» Launched fresh bakery products of KIDO’s Bakery brand in the style of

“Fashionable Enjoyment”, signaling the comeback to confectionery
business unit.
» Merged KDF into KDC.
Growth from internal resources
2020-2023
2022-2023
» Made a reentry into the mooncake market under the KIDO’s Bakery brand, received many positive feedbacks
and a warm reception from consumers nationwide.
» Invested and acquired a 68% stake in Tho Phat Company, subsequently integrating Tho Phat into the KIDO
Group as a subsidiary.
» Officially launched the shopping, entertainment and trade promotion channel on the social platform E2E
(Entertainment to E-Commerce).
» Introduced the spice business unit with fish sauce and seasoning products under the Tuong An & Tuong An
Unicook brand, fulfilling the aim of enhancing Vietnamese cuisine experiences.
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KIDO GROUP
ORGANIZATIONAL STRUCTURE
ORGANIZATION AND HUMAN RESOURCES ORGANIZATIONAL CHART

GENERAL MEETING OF SHAREHOLDERS
The General Meeting of Shareholders oversees the

Board of Directors. The Board of Directors delegates
the responsibility of managing all production and SUPERVISORY BOARD BOARD OF DIRECTORS
business operations to the Board of Management.
The Supervisory Board plays a crucial role in overseeing

all company operations, accompanying with the General BOARD OF MANAGEMENT
Meeting of Shareholders, Board of Directors, and Board
of Management.
To maintain a balance between short-term and long-term STRATEGIC

objectives while ensuring the strategic plan is correctly EXECUTIVE MANAGEMENT COMMITTEE (EMC)
PLANNING
executed, the Executive Management Committee (EMC)
was established by the Board of Management. The
EMC collaborates with three teams and business units EXECUTIVE MANAGEMENT COMMITTEE (EMC) LEADS AND SUPERVISES THE PERFORMANCE OF STRATEGIC
(BUs), overseeing all operations. Horizontal issues are OBJECTIVES OF THE GROUP AND PROMOTION OF GENERAL BUSINESS RESULTS.
then addressed collectively by teams and departments,
leveraging each team’s specialized expertise vertically.
TEAM 01 TEAM 02 TEAM 03

BU
BUSINESS TEAM SUPPLY CHAIN MANAGEMENT TEAM (SCM) SUPPORT TEAM
BUSINESS BUSINESS DEVELOPMENT PRODUCTION, QA/QC ADMINISTRATIVE, HUMAN RESOURCES,

UNIT R&D, MARKETING LOGISTICS, PURCHASING FINANCE & ACCOUNTING
COOKING OIL
BUTTER
SPICE
ICE CREAM
BAKERY
Fresh cakes, dry cakes, mooncakes, dumplings...
1 2 3 4 5 26 27
KIDO GROUP
ORGANIZATIONAL STRUCTURE (continued)

BY HARNESSING DIGITAL TECHNOLOGY, TEAMS ARE
SEAMLESSLY INTERCONNECTED TO SWIFTLY ADAPT TO
ROLES AND RESPONSIBILITIES OF EACH TEAM WITHIN THE GROUP MARKET CHANGES BOTH VERTICALLY AND HORIZONTALLY.
BU (BUSINESS UNIT)
The business unit is tasked with developing sales channels and boosting revenue growth within the region and
business unit, while overseeing and executing trade, marketing, and product development initiatives within the
region. This involves monitoring and implementing strategies related to segmentation, targeting, positioning (STP),
product, price, place, and promotion (4P), as well as managing the regional profit and loss (P&L); collaborating closely
with the Sales Director team and entire team 2 and 3; Manage team 1 of the region including Trade & Marketing;
Business unit development and business unit P&L nationwide... Particularly, for the export channel business unit (BU),
responsibilities include identifying export opportunities for all products, coordinating with the Group’s import-export
department, devising import plans with foreign partners, and liaising with team 2 to facilitate product imports.
TEAM 1 - BUSINESS TEAM

Business Team (Team 1) serves as the compass for operational strategies in sales, distribution, marketing,
product development, and consumer insights. Team 1 engages closely with consumers, conducts thorough
market research, and analyzes competitive landscapes to grasp consumer needs accurately. By providing
valuable feedback and information to the entire company, Team 1 collaborates with functional departments
to ensure the delivery of appropriate products, timely services, and tailored solutions that meet consumer
demands. Support Teams (Team 2 and Team 3) work alongside Team 1, offering insights, predictions, and
customer-centric perspectives to adapt to evolving market trends and anticipate consumer needs effectively.
This customer-centric approach ensures that consumers remain at the core of decision-making processes.
TEAM 2 - SUPPLY CHAIN MANAGEMENT (SCM)

The functions of the three teams are crucial in operational activities.
Team SCM specializes in finished product manufacturing, quality control, logistics, and warehousing, serving During periods of significant market fluctuations, these teams play
as the backbone of the Group. Their responsibilities include managing production, optimizing efficiency, and integral roles in the business cycle, adjusting capacities at various levels
facilitating product distribution to maximize effectiveness. By closely collaborating with Team 1, Team SCM to meet fluctuating demand. With the application and optimization
ensures the timely supply of appropriate products to customers at competitive prices. This customer-centric of digital technology, the connectivity between the three teams
approach not only advances customer policies but also strengthens the Group’s competitive edge. and business units will become even tighter, enabling more efficient
response to rapid business growth.
» EACH TEAM’S CAPACITY SHOULD BE SPECIALIZED AND

PROFESSIONALIZED VERTICALLY FOR OPTIMAL PERFORMANCE.
TEAM 3 - SUPPORT TEAM
» HORIZONTAL INFORMATION CONNECTIVITY
Support Team is dedicated to supporting the Company’s operations, covering essential functions such as human
resources, administration, financial and management accounting. Their services revolve around infrastructure
(A lot of information is bidirectional and collaborates to address the
related tasks, including IT, business process management, communications, investor relations, purchasing, and
issue at hand)
finance. These services are centrally managed by the Group, relieving individual companies from the burden
of long-term infrastructure investments and allowing them to focus on generating profits and creating value.
1 2 3 4 5 28 29
KIDO GROUP
HUMAN RESOURCES HUMAN RESOURCES STRATEGY ORIENTATION
As of December 31, 2023, the Group’s total number of employees is 5,116 individuals. Throughout its over 30 years of existence, KIDO Group has held the belief that its most valuable asset is its
people, and as such, all company endeavors are centered around them. KIDO has actively fostered a positive and
dynamic workplace environment, where every employee, regardless of their position, is valued, heard, trained, and
Education level Number of people Proportion (%) encouraged to reach their full potential. The company is dedicated to creating a work culture where mutual respect
and trust among all employees are paramount, leading to outstanding performance and a sense of fulfillment in
their work.
Doctoral degree 03 0.06 %
To sustainably develop its workforce and further strengthen its position in the essential food sector in Vietnam
Master’s degree 14 0.27 % and globally over the next 30 years, KIDO Group has charted a strategic human resources plan for 2024. This plan
emphasizes the need for all teams and departments to drive tangible outcomes, generating substantial revenue and
profits for the Group while fostering continuous growth and motivation within each business unit and department.
University degree 1,100 21.50 % Key areas of focus include:
College level 603 11.79 %
Promote a culture of continuous learning by providing department-specific training

Intermediate level 493 9.64 % opportunities. Additionally, encourage regular job rotations to ensure that individuals
not only understand their own roles but also gain insights into the functions of related
departments.
Beginner level 5 0.10 %
The remaining 2,898 individuals are not categorized according to the levels mentioned in the table above (56.64%).
Maximize resource efficiency by leveraging technology and software systems to streamline

workflows, thereby reducing time and manpower required for task deployment.
Doctoral degree 0.06 %

Human resource preparation involves training current staff and successor teams,
Master’s degree 0.27 % alongside increased investment in facilities.
University degree 21.50 %
College level 11.79 %
Intermediate level 9.64 % Gathering resources and lessons learned from KIDO’s past M&A transactions (including
Tuong An, Kido Foods, KIDO Nha Be, Tho Phat) to inform the Group’s forthcoming M&A
Beginner level 0.10 % strategy.
Not categorized 56.64%
1 2 3 4 5 30 31
KIDO GROUP
HUMAN RESOURCES STRATEGY ORIENTATION (continued)
IN ADDITION TO UNDERSTANDING THEIR TASKS AND THE DIRECTION FROM THE BOARD
OF MANAGEMENT, EACH TEAM MEMBER IS EQUIPPED WITH THE NECESSARY TOOLS
SUPPLY CHAIN
AND RESOURCES TO EFFECTIVELY CARRY OUT THEIR WORK. SPECIFICALLY: BUSINESS SUPPORT
MANAGEMENT
TEAM TEAM
TEAM
TEAM 1 - BUSINESS TEAM

The Business Development Team plays a crucial role in generating revenue and profits for the Group. This
team is carefully selected and trained by the HR Department in collaboration with the Training and Human TEAM 2 - SUPPLY CHAIN MANAGEMENT TEAM
Resource Development Department. Regular training sessions focus on essential skills such as customer
persuasion, sales design thinking, and prompt response to market demands and challenges. To streamline All employees undergo regular training to enhance their skills and minimize risks in the production process.
operations, the IT Software Team has developed Sales Management System for smartphones. This tool helps Additionally, those working at the factory receive full protective gear to ensure safety throughout production
the business team save time on administrative tasks, effectively manage sales data, and facilitate quick operations. They are also trained in technology to operate production and automation stages efficiently.
communication between the market and the Group’ leaders for prompt issue resolution. Furthermore, employees are encouraged to propose initiatives for improving production efficiency, with
opportunities provided through competitions focused on suggesting technical solutions that can help save the
The Product Research & Development (R&D Team) has been a cornerstone of KIDO’s success in the company’s operating budget.
essential food market for over 30 years. Leveraging its strong financial backing, extensive distribution
network, and adaptable operational processes, KIDO has established itself as an industry leader, particularly
due to its exceptional R&D capabilities tailored to Vietnamese preferences. As part of our ongoing strategy to
diversify our product offerings and deliver “Flavor Your Life”, we are committed to enhancing our R&D team.
Members are meticulously selected for their experience in relevant industries and undergo rigorous training.
Additionally, we provide them with state-of-the-art facilities to support their research efforts in creating
products that resonate with the evolving tastes and trends of Vietnamese consumers. TEAM 3 - SUPPORT TEAM
The Marketing Team faces the challenge of leveraging the Group’s established brands to drive the Team 3 undergoes regular professional training through weekly sessions provided by the Group. These sessions
development of new product lines effectively. This entails inheriting, promoting, and applying these brands focus on practicing skills such as in-depth analysis, market forecasting, and providing cost-effective solutions.
in innovative ways while aligning with the Group’s expansion strategy. Moreover, the team must adeptly Additionally, there is an emphasis on risk management to ensure compliance with government regulations and
blend traditional marketing approaches with emerging social media and e-commerce trends, staying attuned current laws. Moreover, the Group provides support to Team 3 in gathering data and applying AI technology,
to evolving consumer preferences. To support these efforts, the Group will continue to invest resources and which enables the creation of automatic reports, enhancing efficiency in data management and decision-making
assemble support teams, ensuring that marketing campaigns are executed with maximum effectiveness. processes.
1 2 3 4 5 32 33
KIDO GROUP
Shareholder structure according to ownership ratio of institutional shareholders and individual shareholders as of
SHAREHOLDER STRUCTURE January 12, 2024
SHARES
Total number of shares

As of January 12, 2024, KIDO has a total of 289,806,316 shares,
289,806,316 shares
(equivalent to a charter capital of 2,898,063,160,000 VND), in which:
54.3% 45.7%
Institutional shareholders
132,321,068 shares 45.7%
Total number of shares Individual shareholders
7.8%
289,806,316 shares
157,485,248 shares 54.3%
Total outstanding bonds
750,000 (million VND)
Shareholder structure according to ownership ratio of domestic shareholders and foreign shareholders as of
January 12, 2024
Volume of outstanding shares
267,288,970 shares 92.2%
Number of treasury shares

92.2%
22,517,346 shares 7.8% 17.6%
Total number of shares

289,806,316 shares
Shareholder structure according to the ownership ratio of major shareholders and minor shareholders as of
January 12, 2024 82.4%
Domestic shareholders
238,689,221 shares 82.4%
Major shareholder
Foreign shareholders
94,821,719 shares 32.7%
51,117,095 shares 17.6%
Major shareholder Number of shares
Tran Le Nguyen 33,946,953
32.7%
PPK Co. Ltd 22,979,565
Shareholder structure according to ownership ratio CHANGE IN OWNER’S CAPITAL
KIDO Investment Co., Ltd 18,554,201 of state shareholders and other shareholders as of In 2023, KIDO issued 10,064,960 shares under the
STAR PACIFICA PTE. LTD. 19,341,000 January 12, 2024 Employee Stock Ownership Program (“ESOP”). Capital
67.3% Purpose: To supplement working capital for the
Total 94,821,719
company’s operations.
Major shareholder Number of shares
TRADING TREASURY SHARES
Remaining shareholder State shareholders 0 In 2023, KIDO had no change in treasury shares.
194.984.597 67.3% OTHER SECURITIES
Other shareholders 289,806,316
In 2023, the Company had not issued other securities.
Total 289,806,316
1 2 3 4 5 34 35
KIDO GROUP
BUSINESS NETWORKS AND SUBSIDIARIES No. Company Name, Factory Name Address
KIDO Group JSC 138 - 142 Hai Ba Trung, Da Kao Ward, District 1,
1
Headquarter Ho Chi Minh City.
BUSINESS NETWORKS DISTRIBUTION CHANNEL SYSTEM KIDO Group JSC Lot 07-12, Area A5, Tan Thoi Hiep Industrial Park,
NATIONWIDE 2
Branch Hiep Thanh Ward, District 12, Ho Chi Minh City.
KIDO Group JSC Box 32, Lot 10, Den Lu 1 Immigration Area,
3
15 Representative office Hoang Van Thu Ward, Hoang Mai District, Hanoi City.
TRANSIT WAREHOUSES
138 - 142 Hai Ba Trung, Da Kao Ward, District 1,
405 4 Tuong An Vegetable Oil JSC
Ho Chi Minh City.
DISTRIBUTORS
01 HEAD OFFICE 450,000

POINTS OF SALE OF DRY PRODUCTS 5 KIDO Frozen Foods JSC
Lot A2-7, Road No. N4, Cu Chi Northwest Industrial
Park, Cay Sop Hamlet, Tan An Hoi Commune,
Cu Chi District, Ho Chi Minh City.
120,000
POINTS OF SALE OF FROZEN PRODUCTS 58 Nguyen Binh Khiem, Da Kao Ward, District 1,
6 Vietnam Vegetable Oil Industry Corporation
Ho Chi Minh City.
4,600
06 SUBSIDIARIES
POINTS OF SALE AT SUPERMARKET AND
CONVENIENCE STORE 7 KIDO Nha Be Co., Ltd
370, Go O Moi, Quarter 2, Phu Thuan Ward, District 7,
Ho Chi Minh City.
Lot A2-7, Road N4, Cu Chi Northwest Industrial Park,

Cay Sop Hamlet, Tan An Hoi Commune, Cu Chi District,
Ho Chi Minh City.
8 Frozen Food Factory (Cu Chi)
Lot C2-3-2, Road No. D6, Cu Chi Northwest Industrial
01 FACTORY PRODUCING CAKES FROM FLOUR

scale of 19,044 tons of products/year in District 12, HCMC
Park, Ap Cay Sop, Tan An Hoi Commune,
Cu Chi District, Ho Chi Minh City.
No. 8 - Road No. 3A - VSIP Bac Ninh Urban & Service

9 Frozen Food Factory (Bac Ninh) Industrial Park, Phu Chan Ward, Tu Son City,
Bac Ninh Province.
02 01
Port of District 7, Phu Thuan Ward, District 7,
FROZEN FOOD FACTORY 10 Oil Refinery and Sesame Oil Press Factory
OIL REFINING FACTORY Ho Chi Minh City.
in Bac Ninh and Cu Chi
Phu My Town, Tan Thanh District, Ba Ria - Vung Tau

11 Phu My Oil Factory
01 SESAME OIL PRESS FACTORY
12 Vinh Oil Factory, Nghe An
Province.
Hung Dung Ward, Vinh City, Nghe An Province.
04 03
WHARVES AT NHA BE PORT
FINISHED OIL FACTORY Lot 07-12, Area A5, Tan Thoi Hiep Industrial Park,
load capacity: 20,000 DWT of goods, 13 The factory produces cakes from flour
in Nghe An, Ba Ria - Vung Tau, Nha Be (HCMC) Hiep Thanh Ward, District 12, Ho Chi Minh City.
5,000 tons of oil
Lot B2, Street 3, Southeast Asia Industrial Park,

14 KIDO Long An Oil Factory Long An, Tan Lap Commune, Can Giuoc District,
Long An Province.
WAREHOUSE SYSTEM NEARLY 10,800 m 2
01 DUMPLING FACTORY
in Nha Be, HCMC LIQUID TANK 22,300 m 3
15 Tho Phat Factory
Lot HT-F2-4&5, Hiep Phuoc Industrial Park,
Hiep Phuoc Commune, Nha Be District, Ho Chi Minh City.
1 2 3 4 5 36 37
KIDO GROUP
BUSINESS NETWORKS AND SUBSIDIARIES

(continued)
Tho Phat Quoc Te JSC and Tho Phat Food Processing One Member Co. Ltd have recently joined KIDO Group. Their
SUBSIDIARIES main focus is on trading steamed foods in line with the overall direction of the Group.
OWNERSHIP IN SUBSIDIARIES
THO PHAT QUOC TE JOINT STOCK COMPANY

KIDO THO PHAT
LONG AN Food
95.56% 87.29% 93.77% 100% 68% 68% Business license BRC No. 0317846017, first registered on May 23, 2023.
Address 78 - 80 Nguyen Tri Phuong, Ward 7, District 5, Ho Chi Minh City, Vietnam.
Food for daily use Cooking oil Export Commerce B2B Cooking oil Commerce Chilled/ Chilled/
frozen foods frozen foods
Business line Food production and trading.
Charter capital 585,000,000,000 VND.
TUONG AN VEGETABLE OIL JSC

Ownership rate KDC owns 68% equity and 68% voting rights.
Business license BRC No. 4103002698 dated September 27, 2004 and subsequent amended BRCs. Business value Chilled/frozen food distribution platform.
Address Floor 10th, 138-142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam.
Business line Producing and trading vegetable oil, animal and vegetable fats.
THO PHAT
THO PHAT FOOD PROCESSING ONE MEMBER CO. LTD
Charter capital 338,796,480,000 VND. Food
Ownership rate KDC owns 95.56% equity and 98.9% voting rights. Business license BRC No. 0311173534 dated
September 21, 2011 and 837
Business value The distribution platform for packaged food is nationwide. subsequent amended BRCs.
Address 78 - 80 Nguyen Tri Phuong,

Ward 07, District 5, Ho Chi
Tuong An Vegetable Oil JSC (TAC) holds the Minh City, Vietnam.
4,754
2nd position in the cooking oil market share in Business line Food production and
Vietnam. With a legacy of 47 years characterized trading.
by prestige, innovation, and quality, the Tuong An
brand has secured a significant place in the hearts Charter capital 581,000,000,000 VND.
322
of Vietnamese consumers. This is evidenced
by prestigious accolades such as being named Ownership rate KDC owns 68% of equity
1,733 among the Top 10 Reputable Food Companies in and 68% of voting rights.
2023, and among the Top 10 most chosen brands
Business value Chilled/frozen food
in urban areas in 2023. Additionally, TAC products
distribution platform.
have been recognized as National Brands for
TAC (Billion VND) several years.
THOPHAT (Billion VND)
Total assets Net revenue Total assets Net revenue
1 2 3 4 5 38 39
KIDO GROUP
BUSINESS NETWORKS AND SUBSIDIARIES

(continued)
VIETNAM VEGETABLE OIL INDUSTRY CORPORATION

KIDO NHA BE CO. LTD (KDNB)
Business license Business Registration Certificate No. 0300585984 issued by Ho Chi Minh City DPI
on December 31, 2014.
Business license BRC No. 0300832672 issued by Ho Chi Minh City DPI on September 9, 2008 and subsequent
amended BRCs. Address 58 Nguyen Binh Khiem, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam.
Business line Producing and trading in animal and vegetable oils and fats.
Address 370, Go O Moi, Quarter 2, Phu Thuan Ward, District 7, Ho Chi Minh City, Vietnam. Charter capital 1,218,000,000,000 VND.
Ownership rate KDC owns 87.29% equity and 87.29% voting rights.
Business line Producing animal and vegetable oils and fats.
Business value Strong logistics foundation for cooking oil import, storage and distribution.
Charter capital 97,702,126,518 VND.
2,323
Ownership rate KDC owns 93.77% equity and 100% voting rights.
Vietnam Vegetable Oil Industry Corporation
Business value Extensive industrial customer base. (Vocarimex) is a state-owned enterprise
established to foster the growth of
Vietnam’s cooking oil industry. Through years
981
of investment and development efforts,
844 Vocarimex has emerged as a key player in
distributing raw materials for the cooking oil
KIDO Nha Be Co. Ltd is the third largest
industry, solidifying its position as a leading
integrated commercial cooking oil company in
VOC (Billion VND) company in the field.
Vietnam.
Total assets Net revenue
284
KDNB (Billion VND) AFFILIATED COMPANIES

Total assets Net revenue
KIDO OWNERSHIP IN JOINT VENTURES, ASSOCIATE COMPANIES
LONG AN KIDO LONG AN CO. LTD
50% 50% 40% 49%

Business license BRC No. 1102018632, first registered on October 17, 2022.
Address Lot B2, Street 3, Southeast Asia Industrial Park, Long An, Tan Lap Commune, Can Giuoc
District, Long An Province, Vietnam. LAVENUE DABACO FOOD LG VINA KIDO FOODS
REAL ESTATE PORK MEAT COSMETICS FOOD & BEVERAGES
Business line Trading, producing food and beverages.
Ownership rate KDC owns 100% equity.
Business value The distribution platform of packaged food in the Mekong Delta region. KIDO Frozen Foods JSC has consistently held the top spot in the ice cream market for several years, boasting
an impressive market share of 46.7%. Notably, the Merino brand commands a substantial portion of this share,
at 25.9%, while the Celano brand follows closely with a 19.6% market share. Additionally, Kido Foods has earned
prestigious recognition as one of the top 10 companies in the milk and dairy products segment for many years. Both
KIDO Long An Co., Ltd. is a new member of KIDO Group, carrying out the task of commercial cooking oil integrated with the the Merino and Celano brands have been honored with the esteemed National Brand award.
distribution of packaged foods in the Mekong Delta region and nationwide according to the general orientation of the Group.
1 2 3 4 5 40 41
KIDO GROUP
BOARD OF DIRECTORS
MEMBER OF THE BOARD OF DIRECTORS
Mr. TRAN KIM THANH MR. TRAN LE NGUYEN Ms. VUONG BUU LINH Ms. VUONG NGOC XIEM
Founder, Co-founder, Co-Founder, Co-Founder,

Chairman of KIDO Group Vice Chairman & CEO of KIDO Group BOD Member & Deputy CEO of KIDO Group BOD Member & Deputy CEO of KIDO Group
With over three decades of experience in business As a seasoned entrepreneur with vast experience in Ms. Linh currently serves as a co-founder, member of Ms. Xiem is recognized as a key figure who laid the
management and strategic leadership, Mr. Thanh, founder business creation and development, Mr. Tran Le Nguyen the Board of Directors and Deputy CEO of KIDO Group. foundation and has made significant contributions to
of KIDO Group, brings a wealth of expertise to the table. stands as a founding member of KIDO Group. Serving as the growth and success of the Group over the past
His visionary approach, coupled with a keen sense of the Chief Executive Officer, he has been instrumental In the early stages of founding the Group, her expertise 30 years as a co-founder, Board Member, and Deputy
opportunity and risk analysis, has been instrumental in shaping the trajectory of KIDO Group over the past in management and production operations helped the CEO of KIDO Group.
in driving the Group’s development strategies forward. three decades. Under his leadership, KIDO has flourished, Company overcome challenges and expand the company’s
Balancing decisiveness with prudence in risk management, establishing itself as a renowned brand in Vietnam market presence. Additionally, her deep understanding of With extensive expertise in managing retail chains,
he is steering KIDO towards its ambitious goal of becoming with a diverse product portfolio that commands a management, supply chain operations, cost management, she actively engages in the product research and
one of the largest food groups in Vietnam. significant market share. Known for his foresight in quality assurance, and business competitiveness has been development phase, setting high standards for the
identifying emerging market trends, Mr. Tran Le Nguyen instrumental in developing departments and divisions team to deliver safe, nutritious, convenient, and unique
In addition to his business endeavors, Mr. Thanh has spearheaded the digital transformation initiatives within the Group’s supply chain. This has significantly products that cater to consumer preferences. This
wholeheartedly dedicates himself to every aspect of KIDO within the company, propelling KIDO to adapt and thrive contributed to establishing one of Vietnam’s largest food strategic approach opens up promising opportunities
Group’s journey. He personally guides and shapes the in the evolving business landscape. Furthermore, he has enterprises. for the company in Vietnam’s essential food market.
development path for employees across the Group and been the driving force behind the successful merger
its subsidiaries, nurturing and inspiring them to become and acquisition endeavors of KIDO Group, contributing Ms. Linh spearheaded the implementation of the ERP With over two decades of experience in managing
the next generation of talented leaders. With a focus on to the expansion of its brand portfolio and solidifying system (Enterprise Resource Planning) within KIDO retail chains and franchising bakery stores, Ms. Xiem
professionalism and efficient operations, he strives to its position in the essential food market. Group, enhancing the Group’s capacity to make timely has demonstrated remarkable flexibility, creativity,
build a company characterized by its skilled workforce and and accurate decisions. In addition to her extensive and innovation in meeting the evolving demands
robust operating procedures. Currently, Mr. Tran Le Nguyen serves on the Executive management expertise, she also has experience in of consumers. Her efforts have not only fostered
Committee of the Vietnam Chamber of Commerce and educational investment. consumer loyalty to the Group’s brands but have also
In addition to serving as Chairman of the Board of Directors Industry (VCCI), the Ho Chi Minh City Fatherland Front played a crucial role in enhancing the distribution
at KIDO Group, Mr. Thanh is also a board member of several Committee, and the Executive Committee of the City network, a key strategic advantage for KIDO.
other private sector corporations. Business Association in Ho Chi Minh City for the term VII
(2022 - 2027). Additionally, he holds positions on the Board
of Directors of several prominent companies in Vietnam.
1 2 3 4 5 42 43
KIDO GROUP
BOARD OF DIRECTORS (continued)
MEMBER OF THE BOARD OF DIRECTORS (continued)
Mr. TRAN QUOC NGUYEN Mr. NGUYEN VAN THUAN Mr. NGUYEN GIA HUY CHUONG Mr. NGUYEN DUC TRI Ms. NGUYEN THI XUAN LIEU
BOD Member, Deputy CEO of KIDO Group Independent board member Independent board member Independent board member BOD Member/Head of Internal Audit Committee
CEO of Tho Phat Food Processing Deputy CEO of KIDO Group
One Member Co. Ltd CEO of Vietnam Vegetable Oil Industry Corporation
Chairwoman of the Members’ Council of KIDO Nha Be
With over two decades of experience Mr. Thuan, an independent board Mr. Chuong, an independent board member Since 2013, Mr. Tri has served as an independent board BOD Member of Tuong An Vegetable Oil JSC
in managing and operating member member of KIDO Group, holds a PhD in of KIDO Group since 2013, holds a Master’s member at KIDO Group. Holding a PhD in Business
companies within KIDO Group, Mr. Nguyen Economics and previously served as the degree in International Commercial Law Administration from Nanyang Technological University
currently serves as a member of the Board Head of the Department of Taxation from Bristol Law School (UWE University of in Singapore, he has an extensive background, having
of Directors and Deputy CEO of the Group. and Customs at the University of the West of England, UK). He co-founded worked in a sugar production company under the Ministry Ms. Nguyen Thi Xuan Lieu joined KIDO Group in 2014
He has significantly contributed to the Finance and Marketing. Starting from and currently serves as the Managing of Agriculture and Rural Development. Mr. Tri has also been and currently holds multiple key positions within the
development of the product portfolio, April 1, 2024, he has taken up a teaching Director of Global Vietnam Lawyers LLC involved in teaching at various international institutions, company. She serves as a member of the Board of
spanning from dairy products to frozen position at the Graduate Institute (GV Lawyers), with over 21 years of including Touro University International (now Trident Directors and Deputy CEO of KIDO Group, Chairwoman
foods. Additionally, he has played a crucial of the University of Economics and experience in providing legal consultancy University International) in California, USA, the Faculty of of the Members’ Council of KIDO Nha Be, and is also BOD
role in expanding distribution channels, Finance, Ho Chi Minh City. With over services for multinational companies Economics at Rissho University in Tokyo, Japan, as well Member of Tuong An Vegetable Oil JSC. Additionally,
establishing the company as a leading 36 years of teaching experience in and large corporations in Vietnam. He as at the University of Economics in Ho Chi Minh City and Ms. Lieu holds the position of CEO at Vietnam Vegetable
distributor of frozen products in Vietnam. Banking and Finance field, Mr. Thuan specializes in international transactions other affiliated training programs in Vietnam. In 2016, Oil Industry Corporation (Vocarimex).
Moreover, he has been instrumental in brings valuable expertise to the board. across various investment sectors. he was appointed as an Associate Professor at Stenden
building and nurturing Vietnam’s two University of Applied Sciences, now known as NHL Stenden With a PhD in Economics and extensive experience, Ms.
largest ice cream brands, Merino and In addition to his academic role, He has consistently been recognized as University of Applied Sciences, in the Netherlands. Nguyen Thi Xuan Lieu has held senior management
Celano. Mr. Thuan serves as a financial one of the Top 100 Leading Lawyers in positions in the finance sector of Vietnam’s commercial
consultant for foreign companies and Vietnam for several years by reputable banking system for many years.
Thanks to his vision and significant organizations operating in Vietnam. legal publications in Southeast Asia and BOARD OF DIRECTORS’
contributions within the Group, Mr. Nguyen the Asia Pacific region, including Asian During her career, she has been honored with
COMMITTEES
was appointed as the CEO of Tho Phat Food Legal Business (ALB), IFLR1000, Legal500, certificates of merit from the Prime Minister, various
Processing One Member Co. Ltd in 2023. and InHouse-Community (IHC). » Board of Directors’ Committees include Internal ministries and branches, as well as accolades such as
Audit Committee the Vietnam Entrepreneur Award, Golden Rose Award,
and Labor Medal bestowed by the President.
» Ms. Nguyen Thi Xuan Lieu - member of the Board
of Directors as Head of Internal Audit Committee.
1 2 3 4 5 44 45
KIDO GROUP
SUPERVISORY BOARD
MEMBERS OF THE SUPERVISORY BOARD
Ms. NGUYEN THI NGOC CHI Mr. LUONG QUANG HIEN Ms. LUONG MY DUYEN
Head of Supervisory Board Member of Supervisory Board Member of Supervisory Board
She completed her degree in Accounting and Auditing With over 20 years of experience in Finance, Ms. Duyen joined KIDO Group in 1993 and has held
from the University of Economics in 2007 and began Management, and Financial Transactions, Mr. Hien various significant roles, including Deputy Head of the
her career in the Group’s Internal Audit department has played a significant role. During his tenure at Accounting Department and Chief Accountant of KIDO.
the same year. In 2012, she earned a Master’s degree KIDO from 1999 to 2011, he was actively involved Since 2006, she has served as the Chief Accountant of
in Banking and Finance from Ho Chi Minh City Open in financial management, partnership relations, KIDO Real Estate JSC. She graduated from university
University. Currently, Ms. Chi serves as the Deputy and various mergers and acquisitions (M&A) and with a major in Finance and Accounting.
Managing Director of KIDO Nha Be. restructuring projects. Currently, besides serving as
a member of KIDO’s Supervisory Board, he holds the
position of CEO at Hung Vuong JSC.
Mr. Hien graduated from the Foreign Trade University

of Ho Chi Minh City and holds a Master’s degree in
Business Administration from Washington State
University, USA.
AUDIT COMMITTEE
At present, the members of the Supervisory
Board are effectively managing corporate
governance activities. Therefore, forming
subcommittees within the Supervisory Board is
not deemed essential at this juncture.
1 2 3 4 5 46 47
KIDO GROUP
BOARD OF MANAGEMENT
MEMBERS OF BOARD OF MANAGEMENT
Mr. TRAN LE NGUYEN Ms. NGUYEN THI XUAN LIEU Mr. TRAN QUOC NGUYEN Mr. BUI THANH TUNG
Co-founder, BOD Member/Head of Internal Audit Committee BOD Member, Deputy CEO of KIDO Group Deputy CEO of KIDO Group
Vice Chairman & CEO of KIDO Group Deputy CEO of KIDO Group CEO of Tho Phat Food Processing One Member Co. Ltd CEO of Tuong An Vegetable Oil JSC
CEO of Vietnam Vegetable Oil Industry Corporation CEO of KIDO Nha Be
As a seasoned entrepreneur with vast experience in Chairwoman of the Members’ Council of KIDO Nha Be Deputy CEO of Vietnam Vegetable Oil Industry
business creation and development, Mr. Tran Le Nguyen BOD Member of Tuong An Vegetable Oil JSC With over two decades of experience in managing and Corporation
stands as a founding member of KIDO Group. Serving as operating member companies within KIDO Group, Mr.
the Chief Executive Officer, he has been instrumental Ms. Nguyen Thi Xuan Lieu joined KIDO Group in 2014 Nguyen currently serves as a member of the Board
in shaping the trajectory of KIDO Group over the past and currently holds multiple key positions within the of Directors and Deputy CEO of the Group. He has With nearly three decades of experience in both
three decades. Under his leadership, KIDO has flourished, company. She serves as a member of the Board of significantly contributed to the development of the domestic and international enterprises, Mr. Tung
establishing itself as a renowned brand in Vietnam Directors and Deputy CEO of KIDO Group, Chairwoman product portfolio, spanning from dairy products to possesses a profound understanding of KIDO’s
with a diverse product portfolio that commands a of the Members’ Council of KIDO Nha Be, and is also BOD frozen foods. Additionally, he has played a crucial role operations, particularly under the SBU model. Currently
significant market share. Known for his foresight in Member of Tuong An Vegetable Oil JSC. Additionally, in expanding distribution channels, establishing the serving as the Deputy CEO of the Group, he also holds
identifying emerging market trends, Mr. Tran Le Nguyen Ms. Lieu holds the position of CEO at Vietnam Vegetable company as a leading distributor of frozen products the positions of CEO at KIDO Nha Be & Tuong An
has spearheaded the digital transformation initiatives Oil Industry Corporation (Vocarimex). in Vietnam. Moreover, he has been instrumental in Vegetable Oil JSC, and Deputy CEO at Vietnam Vegetable
within the company, propelling KIDO to adapt and thrive building and nurturing Vietnam’s two largest ice cream Oil Industry Corporation (Vocarimex).
in the evolving business landscape. Furthermore, he has With a PhD in Economics and extensive experience, Ms. brands, Merino and Celano.
been the driving force behind the successful merger Nguyen Thi Xuan Lieu has held senior management He holds a degree in Business Administration from the
and acquisition endeavors of KIDO Group, contributing positions in the finance sector of Vietnam’s commercial Thanks to his vision and significant contributions within the University of Economics and has completed advanced
to the expansion of its brand portfolio and solidifying banking system for many years. Group, Mr. Nguyen was appointed as the CEO of Tho Phat leadership training at UCLA Anderson University (Los
its position in the essential food market. Food Processing One Member Co. Ltd in 2023. Angeles, USA).
During her career, she has been honored with
Currently, Mr. Tran Le Nguyen serves on the Executive certificates of merit from the Prime Minister, various
Committee of the Vietnam Chamber of Commerce and ministries and branches, as well as accolades such as
Industry (VCCI), the Ho Chi Minh City Fatherland Front the Vietnam Entrepreneur Award, Golden Rose Award,
Committee, and the Executive Committee of the City and Labor Medal bestowed by the President.
Business Association in Ho Chi Minh City for the term VII
(2022 - 2027). Additionally, he holds positions on the Board
of Directors of several prominent companies in Vietnam.
1 2 3 4 5 48 49
KIDO GROUP
BOARD OF MANAGEMENT (continued)
MEMBERS OF BOARD OF MANAGEMENT (continued)
Mr. WANG CHING HUA Mr. MAI XUAN TRAM Mr. TRAN TIEN HOANG Mr. MA THANH DANH
Deputy CEO of KIDO Group Deputy CEO of KIDO Group Deputy CEO of KIDO Group Deputy CEO of KIDO Group
CEO of KIDO Frozen Foods JSC
With over 30 years of experience in the food Mr. Hoang became a part of KIDO Group in 1997, Mr. Ma Thanh Danh has been part of the KIDO Group
manufacturing and processing industry, Mr. Wang has accumulating over 26 years of expertise in overseeing since its inception. In 2013, he assumed the role of
been instrumental in laying the foundation for KIDO’s Having been part of KIDO Group for over 23 years, and managing procurement systems within the Deputy CEO, overseeing risk management and internal
production activities since its inception. His expertise he played a pivotal role in establishing and operating fast-moving consumer goods (FMCG) sector. In 2011, control for the Group. With over 13 years of experience
has significantly contributed to expanding KIDO’s the Group’s distribution system model. With an he assumed the role of Deputy CEO of Supply Chain in business strategy management, brand management
production scale and establishing its presence in the in-depth understanding of the business units, market Management. consulting, and mergers and acquisitions (M&A), he
Vietnamese market. Currently, he serves as the Deputy strategies, and operational models, he now serves on brings valuable expertise to the organization.
CEO of the Group. the Executive Board, overseeing the development of Presently, he serves as the Deputy CEO overseeing
business strategies and the management of systems the entire Group’s supply chain. He holds a Bachelor’s He also consults on Big Data implementation for
and operations in the chilled/frozen business unit. degree from the University of Economics and has numerous businesses in Vietnam. His educational
completed a Senior Leadership Skills Training course at background includes a Bachelor’s degree in Electrical
He earned a Bachelor of Business Administration from UCLA Anderson University (Los Angeles, USA). Engineering and Business Administration from
Ho Chi Minh City University of Economics and an MBA the University of Economics. Moreover, he holds a
from California Miramar University (USA). Master’s degree in Business Administration with a
focus on International Business Strategy and Brand
Management from the University of Economics in the
Kingdom of Belgium.
CHANGES IN THE BOARD OF
MANAGEMENT
In 2023, there were no changes in KIDO’s Board of
Management.
INNOVATION UNLOCKS
OPPORTUNITIES
STRATEGIC REPORT
STRATEGY REPORT ANNUAL REPORT 2023
1 2 3 4 5 52 53
KIDO GROUP
CEO’S MESSAGE
WE’LL EXERT OURSELVES, INNOVATE OUR MINDSET, VIGOROUSLY CHASE OBJECTIVES,

AND UNITE TO PROPEL THE GROUP’S ADVANCEMENT IN 2024 AND BEYOND.
Dear Shareholders,
In 2023, the global economy continued to grapple with
FOR THE COOKING OIL & BUTTER BUSINESS UNIT FOR THE SPICE BUSINESS UNIT
numerous difficulties and challenges. Strategic rivalries
among major nations intensified, heightening geopolitical
tensions. Natural calamities such as droughts, storms, In 2023, the cooking oil business unit proactively In December 2023, the Group officially introduced its
and floods, exacerbated by climate change, wrought upgraded and renewed a series of products, spice business unit, featuring fish sauce and seasoning
serious repercussions. Risks to energy security, food expanding the product portfolio to enhance products under the Tuong An & Tuong An Unicook brands.
security, and cyber security escalated. Although inflation competitiveness in the market. Brands like Van Tho, This move aligns with the Group’s goal of “Filling in
moderated somewhat, it remained stubbornly high, Olita, and Ngon were introduced and well-received Vietnamese kitchen.” The new products have received
prompting many major economies to maintain tight by both the market and consumers. Additionally, two positive feedback and support from the market, retail
monetary policies and high interest rates. key campaigns “The best cooking oil, the best fried” outlets, and consumers, indicating promising potential
and “Tet with Tuong An - Lucks and Prosperities” for Tuong An’s spice business unit in 2024.
In Vietnam, the government’s determined efforts and were successfully deployed, along with several other
robust support measures have positively influenced supporting activities aimed at stimulating consumer
demand and improving brand recognition. FOR THE ICE CREAM BUSINESS UNIT
economic growth, surpassing the global average.
However, we are not immune to the impact of the global
economic downturn, with exchange rate fluctuations Moreover, KIDO has intensified sales efforts by The ice cream business unit has rolled out two key
and challenges in production and business activities expanding its customer base to include commercial campaigns: LAP 1 - “Delicious ice cream, the more
affecting the overall health of the business ecosystem. and industrial clients nationwide, particularly you eat, the more you win” and LAP 2 - “Eat
Decreased purchasing power in the market is evident establishments utilizing cooking oil in the production delicious ice cream, hunt for diamond rings.”
as people’s incomes are affected by difficult export and processing of local products. Additionally, the These campaigns have delivered impressive results,
conditions and job losses. company continues to actively promote export contributing to the overall growth of the ice cream
activities. sector. Additionally, efforts to stimulate ice cream
For the Group, fluctuations in the global supply chain have consumption at home through various activities and
led to changes in the market dynamics. Combined with In addition to prioritizing market-oriented activities, solutions are being sustained and expanded.
reduced purchasing power, this has posed challenges in 2023, the cooking oil business unit will focus
for both production and business, particularly in the on promoting production, enhancing packaging, With various activities and promotional programs
middle and high-end product segments due to cautious and improving the quality of product lines. These in place, KIDO’s ice cream business unit remains at
consumer spending behaviors. In response to the efforts aim to sustainably develop and maintain the the forefront of the ice cream market in Vietnam,
broader economic challenges, KIDO Group is proposing industry’s second position in Vietnam while leading commanding a market share of 46.7%. Specifically,
development strategies tailored to each stage while the butter segment with a 74.9% market share the Merino brand holds 25.9% market share, while the
striving to sustain business unit operations. Specifically, (according to Euromonitor data in 2022). Celano brand captures 19.6% market share, (according
the activities for each business unit are as follows: to Euromonitor market survey data).
1 2 3 4 5 54 55
KIDO GROUP
CEO’S MESSAGE (continued)
FOR THE BAKERY BUSINESS UNIT
In its second year back in the mooncake market under the KIDO’s Bakery brand, the Group has pioneered a In addition to focusing on the development of our four core business units and adapting to the emerging
new trend in celebrating the mid-autumn festival, bringing the joy of mooncake consumption to consumers trends in live shopping and livestreaming, driven by the rapid growth of e-commerce platforms and
nationwide. Thanks to the overwhelming support and positive feedback from consumers, the Group’s technological advancements, we have launched an Entertainment to E-commerce (E2E) channel on social
products were sold out nationwide well before the Mid-Autumn Festival. media. This platform offers a blend of shopping, entertainment, and promotional activities. Notably, brands
under KIDO such as Tuong An and KIDO’s Bakery have actively participated in livestream sales events on this
In addition to mooncakes, the fresh cakes and long-lasting cakes have introduced numerous new products, channel to enhance brand visibility and boost Group revenue.
offering a wide range of experiences for consumers.
Despite facing market challenges, fluctuations in both the Vietnamese and global economies, and significant
A notable development in the bakery business unit in 2024 is the Group’s acquisition of a 68% stake in increases in raw material and operational costs, KIDO Group achieved a net revenue of 8,650 billion VND in
Tho Phat, Vietnam’s leading dumpling manufacturer. Since acquiring Tho Phat, we have undertaken various 2023, representing 57.7% of the annual plan. The pre-tax profit for the same period reached 323 billion VND,
initiatives to restructure its operational model while gradually expanding the industry’s distribution channel achieving 35.9% of the annual target, with an after-tax profit of 135 billion VND. This success can be attributed
system. to the collective efforts, determination, and solidarity of the Board of Directors, Board of Management, and
all employees of the Group, who demonstrated high levels of responsibility and enthusiasm across all areas
of operation.
1 2 3 4 5 56 57
KIDO GROUP
CEO’S MESSAGE
13,000 BILLION VND
(continued) FOOD & SPICE BUSINESS UNIT (continued) NET REVENUE
TARGET
Convenient Spices PRE-TAX PROFIT
(Butter, Dipping Spices, Marinades, Complete Spices,
Dear Shareholders, Spice Powders)
Butter: Dedicated to researching and developing new

800 BILLION VND
IN 2024
In 2024, the economic landscape is anticipated to grow increasingly intricate and challenging due to ongoing products that cater to diverse consumer preferences, ranging
geopolitical conflicts in the Middle East, global climate change concerns, and the enforcement of tighter monetary from cooking and baking to direct consumption, with a special
policies. Nonetheless, leveraging its solid foundation for sustainable development and the stable growth prospects focus on serving the Horeca channel. Our development
within its industries, KIDO Group remains committed to delivering long-term value to its shareholders. and expansion strategies are anchored on the unwavering
commitment to maintain Tuong An’s position as the leading ICE CREAM BUSINESS UNIT
In addition to the aforementioned strategy, the Group is prioritizing the introduction of new products and expanding butter brand in Vietnam for 11 consecutive years.
the market presence of each product category, particularly within the essential food sector, which includes Food Our focus is on maintaining our number 1 position and
and Spices, Bakery Business Unit, and Ice Cream Business Unit. Furthermore, there is a concerted effort towards Dipping spices, marinades, complete spices: Our product expanding our market share. We aim to launch new
digitizing and streamlining the entire sales process and production activities of the Group, with the aim of achieving lines, including chili sauce, dipping sauce, and pre-cooked products tailored to the needs of specific target groups.
leadership positions in the respective business units it operates in. Specifically, the strategic orientation for each spices, are designed to streamline and offer convenience in Additionally, we’re prioritizing brand activation initiatives
business units is outlined as follows: cooking for today’s modern consumers. to make ice cream a staple and beloved product for the
majority of consumers.
Spice powder: This serves as a valuable tool in our strategy
FOOD & SPICE BUSINESS UNIT to diversify the product range in Vietnamese kitchens, In addition to our current key product lines and
aiming to enhance flavor, color, and appeal to taste buds, distribution channels, the E2E trade promotion project
thus making dishes more delicious, attractive, and full of on the TikTok platform will remain a valuable tool for the
Essential spices Vietnamese flavor. Group. It helps us execute marketing strategies, promote
(Cooking oil, Fish sauce, Seasoning, Soy sauce) products, and test new markets while understanding
Dry food consumer behavior better, especially through
Cooking Oil: Leveraging our extensive distribution network of 450,000 points of sale, we conduct thorough livestreaming. This project also reflects our commitment
analyses to identify products that align with and complement this channel, optimizing shelf space and prioritizing We’re currently researching market demands and preparing to community responsibility and supporting small and
quick service for consumers, thereby offering a wide array of choices for Vietnamese households. Additionally, to introduce a range of dry food products in the near future. medium-sized businesses, aiming for mutual growth and
we tailor our products to suit the preferences of each region, ensuring localized appeal. Continuous enhancement contributing to Vietnam’s economy and society in the
of product quality remains a key focus, as the Tuong An cooking oil business units aims to consolidate its position near future.
and uphold the strength of its national brand. BAKERY BUSINESS UNIT
In general, achieving market dominance is a long-term
Fish Sauce, Seasoning, Soy Sauce: Conduct market research to understand consumer preferences and trends, Fresh cake: Conduct research to introduce a variety of endeavor that demands meticulous planning at each
ensuring that our fish sauce and seasoning products are accessible to consumers nationwide. Additionally, we new products that align with current tastes and trends, stage and the collective efforts of all employees within
remain committed to exploring new product lines that cater to the varied and essential needs of our consumers. catering to diverse consumer needs. the Group. In the immediate future, we are committed to
striving towards achieving our targets of attaining a net
Long-lasting cake: Strive to expand product portfolio by revenue of 13,000 billion VND and a pre-tax profit of
introducing additional internationally renowned product 800 billion VND in 2024.
lines under the KIDO brand for distribution in Vietnam.
We’ll exert ourselves, innovate our mindset, vigorously
Mooncake: Expand mooncake range with diverse flavors to chase objectives, and unite to propel the Group’s
offer consumers more choices, while prioritizing attractive advancement in 2024 and beyond.
packaging designs to meet gifting demands during the
holiday season. Leveraging our extensive distribution Once again, I extend my sincere gratitude to our
network, including MiniBao stores, we aim to make our shareholders for their unwavering trust, support, and
products more accessible to consumers nationwide. partnership over the years. Your continued trust and
support serve as a pillar of strength, enabling us to
Dumplings: Our strategy for dumplings involves rapid successfully execute our strategies and plans.
growth, diversification of our product portfolio and flavors
to cater to regional preferences, and deep penetration into
key channels. We’re enhancing our team, optimizing product
pricing to better align with each market. Specifically, TRAN LE NGUYEN
we’re expanding the distribution of Tho Phat’s products Chief Executive Officer of KIDO Group
nationwide, moving beyond the southern market.
1 2 3 4 5 58 59
KIDO GROUP
BUSINESS RESULTS
FINANCIAL HIGHLIGHTS
With remarkable growth in recent years, KIDO Group has been recognized as one of Top 50 most effective companies
in Vietnam in 2023, and also received the award as one of the 15 companies with exemplary M&A strategies from
INDICATION | Unit: MILLION VND 2019A 2020A 2021A 2022A 2023A
2009 to 2023, acknowledged by the Ministry of Planning and Investment. Moreover, it was honored as one of the Top
BALANCE SHEET 10 prestigious food companies in 2023, particularly for its Tuong An brand. Throughout more than three decades of
development, KIDO has significantly expanded its presence in the essential foods sector, focusing on business units
Short-term assets 4,912,949 5,477,497 7,013,592 6,980,388 6,964,136 such as bakery, ice cream, cooking oil, and spices.
Long-term assets 7,019,205 6,871,658 7,059,113 7,024,405 5,426,878
Currently, KIDO Group leads the butter business unit in Vietnam with its Tuong An Margarine brand holding a remarkable
Short-term liabilities 2,684,940 3,805,345 5,397,243 5,427,180 4,214,062 74.9% market share. It also holds the top position in the ice cream business unit with a 46.7% market share, and is the
leading manufacturer of dumplings in Vietnam. Additionally, it ranks second in the cooking oil business unit. KIDO Group
Long-term liabilities 1,091,562 844,423 1,780,820 1,524,885 1,063,032 continues to maintain its reputation as one of the most reputable and robust food corporations in Vietnam.
Equity 8,155,652 7,699,387 6,894,643 7,052,728 7,113,920
TOTAL ASSETS (Billion VND) NET REVENUE (Billion VND)
Total assets 11,932,154 12,349,155 14,072,706 14,004,793 12,391,014
14,073 14,005 12,535
BUSINESS RESULTS
10,497
Net Revenue 7,209,947 8,323,616 10,496,864 12,535,183 8,649,616
Gross profit 1,630,872 1,764,988 2,051,015 2,273,606 1,536,213 8,324 8,650

12,349 12,391 7,210
Profits from Associates 239,873 171,986 110,471 104,079 75,292
11,932
Operating Profits 258,052 407,904 688,520 498,510 321,734
Profit before tax 283,314 416,077 687,829 510,598 323,069
Profit after tax 207,258 330,238 653,291 374,656 135,184
FINANCIAL RATIOS
2019A 2020A 2021A 2022A 2023A 2019A 2020A 2021A 2022A 2023A
Quick ratio 1.49 1.12 0.84 0.88 1.40
Current ratio 1.83 1.44 1.30 1.29 1.65
Total Debt/Total Assets 32% 38% 51% 50% 43% GROSS PROFIT (Billion VND) PROFIT BEFORE TAX (Billion VND)
EFFICIENCY RATIOS 2,274
2,051 688
Inventory Turnover (times) 6.14 5.41 3.39 4.64 6.63
1,765
Accounts Receivable Turnover (times) 2.65 3.58 4.11 4.25 2.92 1,631 511
1.536
Total Assets Turnover (times) 0.60 0.67 0.75 0.90 0.70 416
PROFITABILITY 283 323
Gross Profit Margin 22.6% 21.2% 19.5% 18.2% 17.8%
Pre-tax profit margin 3.9% 5.0% 6.6% 4.1% 3.7%
ROE 2.5% 4.3% 9.5% 5.3% 1.9%
ROA 1.7% 2.7% 4.6% 2.7% 1.1% 2019A 2020A 2021A 2022A 2023A 2019A 2020A 2021A 2022A 2023A
1 2 3 4 5 60 61
KIDO GROUP
BUSINESS RESULTS (continued)
EVALUATION REPORT OF THE BOARD OF MANAGEMENT
ASSESSMENT OF THE PERFORMANCE OF THE GROUP IN 2023 NET REVENUE
Some highlights affecting production and business activities: In 2023, the consolidated net revenue reached 8,650 billion VND, achieving 57.7% of the plan, marking a 31% decline
compared to 2022 due to the challenging business landscape both domestically and internationally. The cooking oil
» Economic Overview: Consumption is restrained, production is moderate, and investment is cautious, resulting business unit contributed 73% to the Group’s net revenue, while the food industry accounted for the remaining 27%.
in slowed economic growth.
» The Group consistently sets appropriate goals and strategies, ensuring that each implementation strategy COOKING OIL BUSINESS UNIT FOOD BUSINESS UNIT 2019A-2023A
includes clear and specific actions.
2019A-2023A
» According to the World Bank, the price of palm oil raw materials fluctuates between $800 to $1,000 per ton,
while the global sugar raw material price varies from $0.42 to $0.58 per kilogram. 84% 85% 85% 27%
» Food industry businesses receive continuous support from banks and partners, ensuring flexibility in managing 20.5%
79.5%
capital for their operations.
73% 16% 15% 15%
» The Group’s machinery, equipment, and oil processing technology system are state-of-the-art and advanced
within the region.
» The company boasts a team of highly qualified and experienced professionals in various fields such as
investment, processing, and trading of products including cooking oil, ice cream, cakes, and spices. 2019A 2020A 2021A 2022A 2023A 2019A 2020A 2021A 2022A 2023A
Main indicators
GROSS PROFIT
No. Targets Unit Planned in 2023 Implemented in Implementation
2023 rate compared In 2023, the gross profit is expected to reach 1,536 billion VND, reflecting a decrease of 32.4% compared to 2022.
to the plan (%) This highlights the Group’s need to enhance cost optimization in production management and control to minimize
overall production expenses during off-peak seasons, consequently improving the overall gross profit.
01 Revenue Billion VND 15,000 8,650 57.7%
02 Profit before tax Billion VND 900 323 35.9% OPERATING EXPENSES
The Vietnamese market in 2023 experienced challenging times due to global economic fluctuations such as
geopolitical tensions, supply chain disruptions, and climate change impacts. These factors led to reduced import SELLING EXPENSES In 2023, the Group focused on cost optimization and adapted sales
and export activities, a decrease in orders for manufacturing enterprises, widespread job losses exceeding 1 million methods to align with market trends, aiming to boost consumption.
workers, payment delays, stagnant real estate markets, and volatile corporate bonds and stocks. Additionally, the
retail sector faced difficulties as consumer spending tightened, logistics costs rose, and businesses encountered
challenges in accessing capital.
1,181 BILLION VND As a result, selling expenses in 2023 are anticipated to total 1,181 billion
VND, reflecting an 18.3% decrease from 2022. Specifically, selling
expenses in the cooking oil business unit are projected to decrease
18.3% COMPARED TO 2022
by 27.5% compared to 2022, while those in the food business unit are
In the challenging economic landscape, both Vietnamese businesses overall and KIDO Group in particular faced expected to decrease by 11% from the previous year.
pressures that impacted their operations, resulting in lower-than-expected net revenue and pre-tax profit.
GENERAL AND
By building upon a foundation of sustainable development and adapting our business plans to suit each stage, KIDO ADMINISTRATIVE EXPENSES
has successfully restructured and expanded our product lines, leveraging both internal and external strengths.
422 BILLION VND

In 2023, general and administrative expenses amounted to 422 billion
With the continued support and trust of our consumers, KIDO is on the right path towards diversifying our product VND, with a general and administrative expenses margin of 4.9%,
offerings in the essential foods sector, in line with the Group’s strategic direction. falling within the industry’s general control margin of 4% to 6%.
GENERAL AND ADMINISTRATIVE
Regarding environmental protection:
EXPENSES MARGIN IN 2023 IS 4.9%
Regularly, the Group implements plans to protect the environment, conducts environmental impact assessments, and
This indicates that the Group maintains strict cost control across its
implements measures to manage waste, emissions, dust, and noise in accordance with regulations set by the Ministry
business units at a reasonable rate.
of Natural Resources and Environment.
1 2 3 4 5 62 63
KIDO GROUP
BUSINESS RESULTS (continued) CAPITAL STRUCTURE
TOTAL EQUITY Utilizing our robust financial resources, we consistently leverage opportunities
7,114 BILLION VND

for investment via mergers and acquisitions, aimed at broadening our
PROFIT BEFORE TAX (PBT) AND PROFIT AFTER TAX (PAT) product range, enhancing distribution networks, and bolstering retail
channels to maximize capital efficiency and drive the Group’s growth. As of
61.2 BILLION VND COMPARED TO 2022 December 31, 2023, the ratio of total debt to total assets has declined by 14%
PROFIT BEFORE TAX Due to the global economic impact of the Covid-19 pandemic,
compared to the same period, standing at 0.43 times.
including Vietnam, all business activities across various economic
323 BILLION VND sectors have been affected. This slowdown has led to a decrease in
operating profits, resulting in a 37% drop in pre-tax profits in 2023
compared to 2022. The total pre-tax profit in 2023 is 323 billion VND,
As of December 31, 2023, the total equity stood at 7,114 billion VND,
indicating a 61.2 billion VND increase from the previous year.
PROFIT AFTER TAX achieving only 35.9% of the annual plan.
FIXED ASSETS
135 BILLION VND The reduction in corporate income tax due to loss carryforwards
from the period 2015-2018 has been fully utilized. As a result, the
profit after tax in 2023 is projected to be 135 billion VND, a significant
FIXED ASSETS As of December 31, 2023, the Group’s fixed assets amounted to
2,587 billion VND, a decrease of 116 billion VND compared to 2022.
decrease compared to the same period last year.
2,587 BILLION VND This decrease can be attributed to the cyclical factor involving
depreciation, as well as investments in upgrading factory capacity
to fulfill market demand, resulting in the formation of unfinished
116 BILLION VND COMPARED TO 2022
production costs.
1 2 3 4 5 64 65
KIDO GROUP
CORPORATE STRATEGY
EMC
MEDIUM AND LONG-TERM STRATEGY
Team 03 Team 02 Team 01 BU

SUPPLY CHAIN BUSINESS
SUPPORT TEAM BUSINESS
MANAGEMENT (SCM) UNIT
Administration - Human QA/QC Business Development Cooking oil
Resources Logistics R&D Butter
System Purchasing Marketing Spice
Continuing our growth Expanding consumer product Finance - Accounting Bakery
strategy by expanding options and positioning the Ice Cream
revenue opportunities and KIDO brand as a leader in
increasing customer value. essential goods.
CLIENT
DELIVERING VALUE TO CUSTOMERS

Prepared to
Optimizing business A variety
Price Quality meet your Features Services Partners Trademark
Continuing our mission efficiency by leveraging of options
to become the leading digital technology
needs
food group in Vietnam for management and
and expand into operations.
Southeast Asia.
FINANCE
OPTIMIZED PERFORMANCE GROWTH STRATEGY

STRATEGY
LONG-TERM
SHAREHOLDER
Increase Expand Increase
Improve cost VALUE
asset revenue value to
structure
efficiency streams customers
1 2 3 4 5 66 67
KIDO GROUP
CORPORATE STRATEGY (continued)
SHORT-TERM STRATEGY
ICE CREAM BUSINESS UNIT
FOLLOWING THE GROUP’S RESTRUCTURING, KIDO HAS BEEN ORGANIZED INTO Enhance the effectiveness of current distribution channels while continuing to drive the development of
5 STRATEGIC BUSINESS UNITS (SBUS) FOR STREAMLINED MANAGEMENT AND business unit distribution channels nationwide.
OPERATIONS. CONSEQUENTLY, THE BOARD OF DIRECTORS PROVIDES PRECISE GUIDANCE Introduce a broader range of new products to meet increasing consumer demand, with a focus on tapping
AND STRATEGIES FOR EACH BUSINESS UNIT. SPECIFICALLY: into the potential of the home ice cream market, which offers significant opportunities for growth.
To further expand our market share, distinguish ourselves from competitors, and sustain our leading position
in Vietnam’s ice cream business unit.
COOKING OIL BUSINESS UNIT Enhance team capabilities, expand market reach, and grow our product portfolio. Diversify our segments and
customer base, transitioning from the ice cream business unit to a broader “frozen snacking” business unit.
Focus on maximizing retail channels to expand market share, strengthen our position, and narrow the gap
with competitors. KIDO’s strong brand leadership, extensive experience in product research and development, and rapid
distribution system expansion are key advantages. These strengths will enable KIDO to differentiate itself
Maintain focus on enhancing the cooking oil and butter business unit to drive profitability. from competitors and form the foundation for executing effective strategies.
Enhance market penetration in various regions and districts by comprehensively assessing local characteristics,
strengths, geography, logistics,... and developing tailored operational strategies for each area.
Conduct a thorough analysis of KIDO and its competitors, leverage existing strengths, and strategize to BAKERY BUSINESS UNIT
increase business unit revenue.
Continue diversifying our product range by introducing new, health-focused products and expanding our Fresh bakery products with short shelf lives: focus on launching a variety of new product lines such
lineup of strategically competitive offerings. We aim to cater to a broader range of consumer segments, as bread, cakes, sandwiches, and hamburgers. This will cater to diverse needs ranging from snacks and
from mass market to premium, providing increased options for consumers nationwide. Additionally, we will nutritious meals to satisfying full meals. Additionally, quickly expand the distribution system nationwide to
adapt our products to better suit the preferences and climate of the Northern market. meet evolving consumer preferences.
Enhance digitalization in product operations, streamline sales channel management, and establish seamless Long-lasting bakery products: actively seek out delicious, world-famous product lines and distribute them
communication between the operations team and the market. in the Vietnamese market under the KIDO Group brand.
Mooncakes: Concentrate on product development, expand distribution channels, and build the brand. Aim to
reach more corporate customers to enhance product penetration and increase consumer engagement.
BUTTER BUSINESS UNIT
Dumplings
Extend and develop the butter business unit by introducing many new products, catering to diverse needs, Diversify products to suit each region, aligning with the strategy of expanding markets in the North and
solidifying its position, and persisting as “Vietnam’s No. 1 Butter”. Central regions while promoting further development in the South.
Establish 100,000 points of sale and 1,500 MiniBao stores nationwide within 3-5 years. MiniBao stores,
representing the Tho Phat brand, will integrate distribution and promotion, showcasing products from the
SPICE BUSINESS UNIT
KIDO Group ecosystem.
Actively pursue new distributors, focusing especially on large supermarket chains and fast-food restaurant
This business unit plays a crucial role in expanding the Group’s product range, penetrating the essential food chains.
industry, and achieving the objective of “Filling in Vietnam kitchen”.
Enhance international promotion through exhibitions to expand the distribution network in global markets.
Monitor market reactions, engage with consumers, and introduce fish sauce and seasoning products to nationwide markets. Expand the product line beyond chilled items like dumplings and spring rolls, targeting a larger scale in the
frozen food segment.
Persist in researching and introducing new product lines within the spice business unit. Additionally, integrate
with the cooking oil and butter business unit to develop essential product combinations, providing more options Launch convenient packaging products to achieve the goal of making Tho Phat become the “National
at points of sale and enhancing the consumer experience. Kitchen” for Vietnamese people.
1 2 3 4 5 68 69
KIDO GROUP
MARKET STRATEGY
MARKETING STRATEGY
Enhance competitiveness in the market through: » Roll out extensive promotional campaigns tailored to
The specific marketing strategy for each business unit in the next phase includes: boost consumption in the ice cream business unit.
» Reposition brands and products to align with the
evolve market landscape. Capture the Take-home market by broadening the
high-end segment, fostering extensive growth of
» Develop and execute comprehensive brand the mainstream segment, and enlarging the low-end
building campaigns targeted at specific customer segment.
COOKING OIL BUSINESS UNIT
segments.
Broaden the high-end segment: Establish and
Regarding product development, regional products Execute brand-building investment activities: » Effectively manage the product portfolio implement business models tailored to the
are categorized into three groups, each with its own through the introduction of new products and high-end segment in malls and major retail outlets in
development strategy: » General activities include building the Tuong An enhancements to existing ones. urban centers, offering consumers the opportunity to
brand and Tuong An Premium nationwide. This enjoy ice cream in-store and take it home.
involves inheriting and continuing the Group’s
CORE GROUP
digitalization strategy, with a focus on brand
Keep growing development across digital platforms such as
TikTok, YouTube, and Facebook. The strategy aims to
HIGH-POTENTIAL PRODUCT GROUP both grow the brand and combine livestream sales
with regular direct interaction with consumers. BAKERY BUSINESS UNIT
Continue to expand and grow
» Specific activities in targeted areas include
NEW PRODUCT GROUP Fresh cake: forward and laying a robust groundwork for the
deploying billboards and signs, and coordinating
business unit growth.
Market penetration with associations to organize community activities,
» Refine and enhance the quality of our product range,
all tailored to local markets.
focusing on developing products with optimal shelf » Dedicated to expanding across various price ranges
life to support production, business activities, and and customer demographics, enhancing product
Additionally, we continuously enhance products Enhance administrative and marketing management
the business unit’s revenue growth. quality, cake volume, packaging, and ensuring
(packaging and quality) to meet the diverse and activities using the Group’s management application
nationwide availability to cater to high-demand
growing demands of consumers. to digitize regional and brand data. This will create
» Enter the market for enjoyable snacks gifting needs during the Mid-Autumn festival season.
a two-way information flow between the market,
competitors, and internal operating departments.
» Expand the market for enjoyable full meals With the Tho Phat brand (the dumpling business unit):
» Dominate the food market. » Reposition the brand to offer consumers delicious,
safe, and nutritious products, with a focus on
» Enhance our digital communication efforts, with a convenient solutions for all.
BUTTER BUSINESS UNIT SPICE BUSINESS UNIT
focus on engaging young families and office workers,
by sharing authentic stories about our product » Enhance communication and brand promotion
Continue to diversify our product line to address Continue to implement our strategy of penetrating quality. These stories will be strategically amplified through targeted marketing efforts at nationwide
the essential needs of consumers. and expanding the business unit. across various social media platforms, particularly points of sale (POS), including POSM, introductions,
during festive seasons. and displays, as well as billboards in various provinces
Marketing strategies will be implemented concurrently Conduct research and introduce new product lines in and cities. Strengthen marketing campaigns
for both the oil and butter business unit. the essential and convenient spices category. Long-lasting cake: The key to penetrating the market highlighting Tho Phat, a brand with 36 years of
lies in a winning strategy: offering delicious flavors, history, boasting modern production technology, safe
Our development and expansion strategy are unique tastes, and optimal pricing. ingredients, and stringent standards in food hygiene
firmly anchored in Tuong An’s core value of being and safety. These efforts will resonate with young
“Vietnam’s No. 1 Butter” for 11 consecutive years. Mooncake: consumers on digital platforms such as YouTube,
Facebook, TikTok, as well as specialized television
» The Mid-Autumn Festival remains a crucial channels in rural areas, enhancing our competitive
season for the business unit, propelling brands edge and driving business unit growth.
1 2 3 4 5 70 71
KIDO GROUP
MARKET STRATEGY (continued)
BRAND STRATEGY AND SYSTEM OF PRODUCT

LINES UNDER THE GROUP
PRODUCT
ECOSYSTEM DAILY ESSENTIAL FOODS CHILLED/FROZEN FOODS SNACK KIDO PROPERTY
CHILLED/
ESSENTIAL CONVENIENT COOKING FESTIVAL
DRY FOOD ICE-CREAM DESSERT FROZEN LONG-LIFE SHORT-LIFE REAL ESTATE ECOMMERCE
SPICES SEASONING OIL GIFTS
FOODS
PASTA/
BUTTER/ NOODLES/DRIED
SEASONING B2B TO GO SWEET SOUP DUMPLINGS COOKIES BREAD LUNAR NEW YEAR SHOPPING MALLS E2E (ENTERTAINMENT TO E-COMMERCE)
MARGARINE VERMICELLI
PRODUCTS
INSTANT MID-AUTUMN
FISH SAUCE MAYONNAISE NOODLES/PHO B2C TAKE HOME YOGURT BREAD CRACKERS CUSTARD CAKE FESTIVAL SERVICE HOUSING PROJECTS
CINNAMON
SOY SAUCE OYSTER OIL CRISPY FLOUR TRADING FLAN SPRING ROLL PASTRY OTHERS
ROLLS/SPONGE
MARINADE/ CANDY/GUM/ SANDWICH

DIPPING SAUCE CHOCOLATE
TRADEMARK
Pantone 2146 C
# 00358E
1 2 3 4 5 72 73
KIDO GROUP
MARKET STRATEGY (continued) Enhancing digital marketing communications: involves refining the entire digital
infrastructure, including websites, YouTube, Facebook fanpages, TikTok, Instagram, and
more, to maximize efficiency for both customers and content. Increasing advertisement
on digital platforms helps rapidly expand the audience base and target customers.
Additionally, proactively creating distinctive and engaging content boosts interaction
COMMUNICATION STRATEGY across these platforms.
In terms of communication activities, the Group focuses on three main areas:
02
01 03
Direct marketing communications at the Marketing communication of events and programs: involve partnering
points of sale: involve brand recognition with and sponsoring major events, television programs, reality shows, and
initiatives, displays, promotions, and customer game shows. This allows the Group to extensively promote its image to
service efforts implemented directly where viewers, attendees, and individuals interested in these programs and events.
products are sold.
1 2 3 4 5 74 75
KIDO GROUP
CUSTOMER STRATEGY
KIDO PRODUCTS ARE TRUSTED AND CHOSEN BY CONSUMERS OF ALL AGES ACROSS
VIETNAM, FROM CHILDREN TO ELDERLY MEMBERS IN HOUSEHOLDS.
TEENAGER HOUSEWIFE
CHILDREN TEENAGER YOUTHS ADULTS ELDERS FAMILIES
23.9% 62.2% 13.9%

AGED UNDER 15 AGED 15 TO 64 AGED OVERR 65
AIMING TO SERVE 23.7 MILLION HOUSEHOLDS 85% OF VIETNAMESE CONSUMERS HAVE AT LEAST ONE KIDO’S PRODUCT
1 2 3 4 5 76 77
KIDO GROUP
PRODUCT STRATEGY
COOKING OIL
Organized into three product categories: Core, Promising, and New, tailored to each regional market.
Enhance product convenience by incorporating consumer-friendly information on packaging, bottle
designs, and product features aligned with prevailing consumption patterns.
BUTTER
Continue to research and innovate new products to fulfill diverse consumer demands: cooking,
baking, and direct consumption...
SPICE
Produce health-safe products made from natural ingredients that are delicious and cater to Vietnamese
tastes. These products meet the convenience needs of modern cooking habits.
BAKERY
Continuously develop a range of fresh bakery products well-known for their delicious flavors and
innovative designs, including bread, sponge cake, sandwiches, pastries…with long-lasting expiration date.
Especially, mooncakes featuring unique fillings and attractive packaging, caters to various gifting occasions.
In addition to existing product lines under Tho Phat, we strive to introduce new offerings tailored to
seasonal festivities and traditional celebrations year-round, as well as products catering to regional
tastes. Our aim is for Tho Phat to be synonymous with the “National Kitchen” for Vietnamese people.
ICE CREAM
Continually expand our flavor range to align with market and consumer trends, reaching beyond just the
youth demographic. Our aim is to cater to the diverse preferences of our customers and offer products
tailored for enjoying ice cream at home.
1 2 3 4 5 78 79
KIDO GROUP
ENVIRONMENTAL
AND SOCIAL RESPONSIBILITY REPORT
COMPLY WITH LAWS ON ENVIRONMENTAL PROTECTION

RELATED TO ENVIRONMENTAL AND SOCIAL RESPONSIBILITY
The company places high importance on activities that align with environmental protection laws.
In 2023, the Company had no records of violations related to non-compliance with environmental laws and
regulations.
ENVIRONMENTAL AND SOCIAL POLICY
Ensuring a safe and healthy working environment for employees is crucial for sustainable development.
Each year, the Company conducts regular medical check-ups for all employees, along with providing health
insurance and accident insurance programs.
The company regularly conducts fire prevention training and drills with professional firefighting forces in the
area to ensure effective implementation of security and fire prevention measures within the company.
Human resources quality is crucial for the Company’s operations. We consistently devise tailored training plans
and curate relevant training materials. Our employees leverage their full potential and confidently suggest
integrating technology into management and production processes to enhance efficiency, thereby driving the
Company’s development.
LOCAL COMMUNITY RESPONSIBILITY REPORT
Continue social initiatives to support the local community and individuals facing hardships. Throughout
2023, both the Company and employees collaborated to make tangible and impactful contributions to the
community.
Additionally, the Company actively engages in various community initiatives, including coordinating efforts to
uphold security, order, and environmental cleanliness.
1 2 3 4 5 80 81
KIDO GROUP
OUTSTANDING PROGRAMS IN EACH BUSINESS UNIT
COOKING OIL AND BUTTER BUSINESS UNIT SPICE BUSINESS UNIT BAKERY BUSINESS UNIT ICE CREAM BUSINESS UNIT
Two key campaigns, namely “The best cooking Officially launched in late December 2023, the Fresh cake: Introduced a range of fresh cake Continue to run two major business unit
oil, the best fried” and “Tet with Tuong An - fish sauce and seasoning products quickly products with innovative flavors such as campaigns: LAP 1 - “Delicious ice cream, the
Lucks and Prosperities” have been launched to gained popularity, with over 90% of consumers Sausage bread with Italian Pizza sauce, Pandan more you eat, the more you win” and LAP 2 - “Eat
stimulate consumer demand and enhance brand approving them upon first taste. The positive cream 6-segment bread, and Buttermilk & delicious ice cream, hunt for diamond rings.”
recognition. feedback and support from the market, retailers, chocolate bagels.
and consumers during the initial days of the The activities aim to stimulate ice cream
The Company has upgraded and revamped a launch indicate promising potential for Tuong An’s Mooncake: Made a return to the mooncake consumption at home.
series of products, expanding and diversifying the position in the spice business unit in 2024. market for the second year, garnering significant
product portfolio to increase competitiveness in attention on social media platforms with nearly
the market. Brands such as Van Tho, Olita, Ngon, 15 million views on KIDO’s Bakery TikTok account.
and Van Phuc have been well-received by both the The KIDO’s Bakery brand also received extensive
market and consumers. coverage on approximately 160 newspapers,
television stations, and popular fanpages, setting
Tuong An Margarine: Successfully developed the stage for further breakthroughs in 2024.
and introduced three new flavors (SKUs) that
have been well-received by consumers. Long-lasting cake: Achieved success with the
launch of new products like FONO Cereal Cookies,
Tatawa Melted Cookies, and Cornae Thai Snack.
Apart from conventional cake distribution

channels, long-lasting cakes are also being
expanded on e-commerce platforms and TikTok
Shop through product introduction live streams…
1 2 3 4 5 82 83
KIDO GROUP
EVALUATE GROWTH POTENTIAL

IN EACH BUSINESS UNIT
KIDO Group has a clear strategic direction in investing in high-growth potential food business units, combined with
a sustainable development foundation. The Group aims to offer top-quality products to customers and diversify its
product range. This strategy involves forming essential product categories to increase value and competitiveness,
gradually realizing the goal of leading the business units it participates in.
ACCORDING TO EUROMONITOR’S RESEARCH REPORT, THE BUSINESS UNITS OF KIDO

GROUP IS DEVELOPING SHOW SIGNIFICANT GROWTH POTENTIAL, WITH AVERAGE INCREASE THE VALUE OF KIDO GROUP
CHANNEL MARKET CONSUMERS

REVENUE GROWTH FROM 2020-2025 DEMONSTRATING STABLE PROGRESS.
VOCARIMEX TUONG AN KIDO NHA BE
OILS
AND FATS
ADMINISTRATION
INGREDIENT TRANSPORTATION PROCESSING
KIDO FOODS
ICE CREAM
& FOOD
BUSINESS UNIT DRY PRODUCT
FINANCE
INGREDIENT PROCESSING PACKAGING CHANNEL
THO PHAT 450,000 POINTS OF SALE
SUSTAINABLE
PROCESSED OF DRY PRODUCTS
FOODS
PRODUCT RESEARCH
FROZEN PRODUCT
DUMPLINGS DIMSUM PIES BREAD - STICK & DEVELOPMENT
CHANNEL
FOUNDATION PROCESSED
DABACO FOODS
6.4% 8% 8.8%
FOODS
DISTRIBUTION
PROCESSED MEAT HAM PATE PORK BOLOGNA
IMPORT AND EXPORT
CHANNEL 120,000 POINTS OF SALE
OF FROZEN PRODUCTS
SPICE
MARKETING
PRODUCTS
AND BRANDING
SEASONING
COOKING OIL POWDER FISH SAUCE BUTTER SOY SAUCE SEASON
B2B CHANNEL
OEM KEY ACCOUNT
FOOD FOR DAILY USE ICE CREAM AND YOGURT COOKING OIL
PRODUCTS LOGISTICS
PROCESSING
EXPORT
PARTNERS
SEASONAL CHANNEL
INSTANT NOODLES
TECHNOLOGY
SUGAR SPICE DRINKING WATER
% 8% 8.8%
GROWTH POTENTIAL FOR
ICE CREAM AND YOGURT BUSINESS
COOKING OIL UNITS AT KIDO
% 8.8%
STRATEGY IN THE COOKING OIL BUSINESS UNIT
STRATEGY IN THE BUTTER BUSINESS UNIT

URT COOKING OIL
VISION
MISSION STRATEGY IN THE SPICE BUSINESS UNIT
STRATEGY
STRATEGY IN THE BAKERY BUSINESS UNIT
STRATEGY IN THE ICE CREAM BUSINESS UNIT

1 2 3 4 5 84 85
KIDO GROUP
BUSINESS MODEL
VOCARIMEX TUONG AN KIDO NHA BE CHANNEL MARKET CONSUMERS

OILS
AND FATS
ADMINISTRATION
INGREDIENT TRANSPORTATION PROCESSING
KIDO FOODS
ICE CREAM
& FOOD
BUSINESS UNIT DRY PRODUCT
FINANCE
INGREDIENT PROCESSING PACKAGING CHANNEL
THO PHAT 450,000 POINTS OF SALE

PROCESSED OF DRY PRODUCTS
FOODS
PRODUCT RESEARCH &
FROZEN PRODUCT
DUMPLINGS DIMSUM PIES BREAD - STICK DEVELOPMENT
CHANNEL
DABACO FOODS
PROCESSED
FOODS
DISTRIBUTION
PROCESSED MEAT HAM PATE PORK BOLOGNA
IMPORT AND EXPORT
CHANNEL 120,000 POINTS OF SALE
OF FROZEN PRODUCTS
SPICE
MARKETING
PRODUCTS
AND BRANDING
SEASONING
COOKING OIL POWDER FISH SAUCE BUTTER SOY SAUCE SEASON
B2B CHANNEL
OEM KEY ACCOUNT
PRODUCTS LOGISTICS
PROCESSING
EXPORT
PARTNERS
SEASONAL CHANNEL
INSTANT NOODLES
TECHNOLOGY
SUGAR SPICE DRINKING WATER
1 2 3 4 5 86 87
KIDO GROUP
DIGITALIZATION, AUTOMATION AND E2E PLATFORMS
DIGITAL TECHNOLOGY MODEL FOR CUSTOMERS PO

S IN
ER T
OF S
S UM SA
LE
C ON
ESTABLISHED IN 1993, WE HAVE CONSISTENTLY APPLIED DIGITAL TECHNOLOGY OVER

THE PAST 30 YEARS TO MAINTAIN OUR LEADERSHIP IN THE VIETNAMESE MARKET.
KIDO’s transformation began with the implementation Alongside our customer-focused digital technology
of the DMS system to improve distribution efficiency, approach, in 2023, KIDO successfully implemented
enabling the quick and accurate delivery of products and launched the Sales Management System: a
to distributors. This initial success affirmed the user-friendly smartphone-based software. This
correctness of the strategy to leverage digital system streamlines order processing, eliminates
technology for business efficiency. the need for Excel spreadsheets, and provides real-
time data on revenue at each point of sale, customer
With a focus on meeting customer needs, we’ve purchases, and sales staff visitation. With this system,
implemented digital technology applications to business executives can conveniently and effectively
efficiently distribute products from our extensive monitor employee activities and sales management
network of distributors to retail outlets nationwide. from anywhere, at any time.
Through KIDO Shop’s 450,000 points of sale across
the country, we ensure swift product delivery tailored Moreover, we’ve established robust IT systems,
to each region’s characteristics. This system helps recruited top talent, and made significant investments DI
us monitor product consumption, popular items, and in technology while conducting extensive training ST
RI
BU
NY
asset status at each point of sale. Leveraging digital programs. These efforts ensure that our distributors,
technology software, we streamline workflows to retailers, and consumers have access to a secure A TO
MP
R
enhance both business efficiency and customer and stable system, safeguarding their information
convenience, ultimately aiming to fulfill consumer rights. Embracing the trend of digital technology CO
needs throughout the day. 5.0, we prioritize the stability of our digital platform
by investing in a flexible and user-friendly system
In addition to traditional distribution channels, we’ve structure, aimed at providing utmost convenience to
leveraged digital technology platforms like KIDO all customers.
Shop and E-commerce to facilitate direct access for
consumers to products from our distributors and from
our company.
1 2 3 4 5 88 89
KIDO GROUP
DIGITALIZATION, AUTOMATION AND E2E PLATFORMS

(continued)
STEPS TO IMPLEMENT DIGITAL TECHNOLOGY TRANSFORMATION
Communicate directly with consumers

Explore new markets based on digital
Digitize all operational, Utilize big data for market Use AI to analyze and through digital technology to enhance
technology capabilities
production, and business analysis and prediction forecast inventory for each their experience and meet customer
processes supplier and points of sale expectations
DIGITAL TRANSFORMATION ROADMAP E-COMMERCE PLATFORM INTEGRATED ENTERTAINMENT TO E-COMMERCE: E2E

APPLICATION: BUSINESS PROCESS MANAGEMENT SYSTEM
Recognizing the evolving consumer trends post-pandemic, and aiming to lead in establishing a multi-platform
ecosystem encompassing reviews, entertainment, and authentic shopping experiences, KIDO Group initiated the
Entertainment & E-commerce (E2E) project in partnership with TikTok Vietnam.
The objective is to provide a platform for brands, business associations, and enterprises to conduct cost-effective
2020-2021 2021-2022 2023-2025 2023-2025 trade promotion, marketing, and sales activities on social media, with support from TikTok. It serves as a space
for sharing videos reviewing fashion, culinary experiences, and product reviews. Additionally, it hosts professional
entertainment events. Notably, through live streaming sessions conducted by brands, consumers can access
exclusive shopping offers from reputable brands, along with efficient shipping and after-sales services, resulting
in time and cost savings.
Prepare infrastructure Build a Data Business Utilize AI for inventory Explore new markets
such as: Warehouse to analyze analysis and forecasting leveraging digital E2E will play a significant role in advancing the growth of KIDO Group. Specifically:
1. Standardize user and predict the market, for suppliers and retail technology capabilities
terminal devices in controlling work through locations. Implement and expand E-Commerce » It’s a new channel for distributing and selling products online within KIDO Group’s ecosystem.
the Office sector. efficient action plans. technology for direct channels.
2. Upgrading communication with » It’s social marketing platform, enabling direct interaction between KIDO and consumers. This platform helps
computers and customers and enhance us grasp consumers’ demographics, preferences, and shopping habits through analytics. We can then provide
enhancing core their experience. product recommendations through livestream sessions, leveraging compelling brand stories that resonate on
network systems social media.
ensures secure
and speedy data » This is where KIDO can introduce new product ideas before launching them on traditional channels.
transmission.
3. Standardize » This project enables KIDO to embrace the e-commerce trend, expanding its promotion and distribution from
the process of offline to online platforms.
transitioning from
paper to digital
documents.
ENHANCE GOVERNANCE
ENHANCE BRAND
CORPORATE GOVERNANCE ANNUAL REPORT 2023
1 2 3 4 5 92 93
KIDO GROUP
ACTIVITIES OF THE GENERAL MEETING OF SHAREHOLDERS
Information regarding Meetings and Resolutions/Decisions made by the General Meeting of Shareholders, including
resolutions passed via written consent.
KIDO ALWAYS PRIORITIZES THE INTERESTS OF ITS PARTNERS, INCLUDING CUSTOMERS,
SUPPLIERS, DISTRIBUTORS, POINTS OF SALE, INVESTORS, AND EMPLOYEES. No. Resolutions/Decisions No. Day Content
1 N/A March 30, 2023 Resolution on the 2023 Extraordinary General

Meeting of Shareholders (through written
shareholder opinions collection)
FOUNDATION POLICIES
2 N/A June 27, 2023 Resolution of the 2023 Annual General Meeting of
We recognize the interconnected interests of each customer group, emphasizing the importance of clear Shareholders
communication to ensure alignment with the Group’s strategy across all member companies.
KIDO is committed to ensuring that our business activities and innovative ideas not only meet customer expectations
but also enable us to adapt to changes in the business environment. Therefore, enhancing our corporate governance ACTIVITIES OF THE BOARD OF DIRECTORS
structure is a priority to strengthen management capacity. Additionally, this focus will foster trust, transparency
The Board of Directors consists of 9 members, including 3 independent members. These independent members are
with partners, and social responsibility to the community.
chosen from thousands of candidates based on their qualifications, experience, and professional expertise.
ISSUES UNDER THE AUTHORITY OF THE

CHARACTERISTICS OF CORPORATE GOVERNANCE STRUCTURE BOARD OF DIRECTORS
In recent years, the group has undergone significant transformation with the aim of establishing robust systems The Board of Directors holds the highest responsibility
and processes to enhance business efficiency and profitability. We have focused on simplifying our corporate for managing the company’s business operations and
structure to boost transparency and efficiency across all our activities. supervising its activities to ensure the best interests
of shareholders. This includes overseeing subsidiaries
according to the Group’s core business plan to ensure
The Executive Board - EMC compliance with legal regulations and KIDO’s business goals.
structure is designed as a “matrix”
within each member company, The Board of Directors oversees management by
aiming to improve communication reviewing reports from the Board of Management
and facilitate quick decision-making during quarterly meetings.
within the Group. This transparent
and efficient “matrix” functional
structure encourages discussion BOARD OF DIRECTORS
and effective decision-making across The Board of Management adheres to regulations,
functions and within the Group. reporting requirements, and implements the
resolutions of the Board of Directors and the General
We’ve implemented the Strategic Meeting of Shareholders across various departments.
Business Unit model to oversee The company’s operations are conducted seriously and
business operations within KIDO meet the required standards.
Group and its subsidiary companies.
Compensation for the Board of Directors and the
Supervisory Board is determined according to the
regulations set out in the resolution of the Annual
General Meeting of Shareholders.
Throughout the year, the Company did not engage in

any treasury stock transactions.
1 2 3 4 5 94 95
KIDO GROUP
RISK MANAGEMENT
STRATEGIC RISKS
MACROECONOMIC, POLITICAL - SOCIAL AND LEGAL RISKS

RISK FACTORS ARE CATEGORIZED USING A SCORING SYSTEM RANGING FROM
Economic downturns and political/social issues can adversely affect consumer spending. The Group closely
“UNCERTAIN” TO “LIKELY”. POTENTIAL IMPACTS ARE ASSESSED AND RANKED FROM
monitors changes in the economic and socio-political environment in the region to anticipate shifts in consumer
“NON-SIGNIFICANT” TO “SEVERE”. IF A POTENTIAL RISK FACTOR IS RATED AS “LIKELY” sentiment and raw material prices. Prudent policies in procurement, working capital management, and cost control
AND HAS A “SEVERE” IMPACT ASSESSMENT, IT IS IMMEDIATELY REPORTED TO THE are maintained to mitigate fluctuations when consumer demand changes.
RISK MANAGEMENT COMMITTEE, WHICH THEN COLLABORATES WITH THE INTERNAL

RISKS FROM CONSUMER DEMAND
CONTROL COMMITTEE.
Anticipating market information and predicting changes in consumer trends and needs are crucial for success.
THESE POLICIES AND PROCEDURES HAVE BEEN UPDATED IN THE MANAGEMENT SYSTEM Failure to anticipate trends and demand poses significant risks to the Group. To mitigate this, the Group utilizes a
Value Creation Process to proactively manage consumer feedback, thereby minimizing the risk of these changes.
AND ARE EXTENSIVELY COMMUNICATED ON THE COMPANY’S INTRANET. THE INTERNAL Additionally, the strength and coherence of our networks enable us to enhance governance capabilities and
CONTROL COMMITTEE WILL MONITOR AND ASSESS THE IMPLEMENTATION PROGRESS. minimize risks in deploying new products.
Establishing strong relationships with retailers and distributors is essential to ensure product reach, penetration,
and revenue growth.
INTERNAL CONTROL PROCESS RISK OF FLUCTUATION OF RAW MATERIALS PRICES
Annually, the Internal Control Committee reassesses our monitoring and risk management systems, implementing Fluctuations in raw material prices pose a significant risk to our profitability. As one of the largest importers of
necessary adjustments. This iterative process ensures proactive risk management, well-suited for Vietnam’s palm oil and soybean oil in Vietnam, we face pressure to proactively forecast market fluctuations.
dynamic economic landscape.
To minimize risk, we share responsibility for managing this risk with our suppliers, who are major players in the
Risk factors are categorized using a scoring system from “Uncertain” to “Potential”, with potential impacts ranked crude cooking oil trade. Leveraging our suppliers’ extensive market knowledge and our deep understanding of the
from “Negligible” to “Severe”. If a potential risk factor is rated as “Possible” and has a “Severe” impact, it is promptly Vietnamese market, we communicate clear material procurement plans to suppliers and ensure fixed prices within
reported to the Risk Management Committee for collaboration with the Internal Control Committee. The Group suitable periods to maintain stability in production costs.
strives to implement measures for monitoring and minimizing risks.
These policies and procedures will be disseminated across the Group and its departments to monitor situations
closely and ensure immediate reporting of any fluctuations in risks to the Committee.
Continuous evaluation and identification of risks are conducted by the Group and its divisions, working alongside
the Risk Management Committee to monitor potential risks within the Group, such as likelihood of occurrence and CURRENCY RISK
issues requiring resolution.
Currency risk arises from differences in foreign currency payments for imported raw materials without
corresponding foreign currency revenues. We endeavor to hedge all import contracts in foreign currency using
forward exchange rate contracts to stabilize the cost of imported goods when converted to VND. We also limit
foreign currency loans and, when borrowing, hedge against exchange rate and interest rate fluctuations.
Changes in regional and global financial markets can significantly impact interest rates, posing risks to profitability,
liquidity, and solvency. To mitigate this risk, we proactively monitor loan maturities to balance operating cash flow
with payments.
1 2 3 4 5 96 97
KIDO GROUP
ENVIRONMENTAL PROTECTION MANAGEMENT WATER DEMAND
No. Business unit Unit Electricity usage (monthly average)
1 Bakery m3 1,285
ENERGY CONSUMPTION 2 Cooking oil m3 16,067

ELECTRICITY DEMAND
3 Ice- cream m3 13,353
No. Business unit Unit Electricity usage (monthly average)
(Source: Summary of water bills at factories of KIDO Group)
1 Bakery kWh 151,567
Note:
2 Cooking oil kWh 994,361
For the bakery and cooking oil business unit: Water usage primarily supports production activities.
3 Ice- cream kWh 1,485,445 For the ice cream business unit: The company has transitioned from borehole water to using solely local water
for factory operations.
(Source: Summary of electricity bills at factories of KIDO Group)
Note:
BAKERY BUSINESS UNIT
The factory located at Lot 7-12 (Area A5) in Tan Thoi Hiep Industrial
Park, Hiep Thanh Ward, District 12, Ho Chi Minh City, produces cakes
from flour.
Frozen Food Factory at Lot A2-7, Street No. N4 and at Lot C2-3-2,
Street No. D6, Northwest Cu Chi Industrial Park.
Frozen Food Factory at No. 8 - Street 3A - Urban Industrial Park

& VSIP Bac Ninh, Phu Chan Ward, Tu Son City, Bac Ninh Province.
COOKING OIL AND BUTTER BUSINESS UNIT
Oil Refining Factory and Sesame Oil Press Factory at Port of

District 7, Phu Thuan Ward, District 7, Ho Chi Minh City.
Phu My Oil Factory in Phu My Town, Tan Thanh District, Ba Ria -

Vung Tau Province.
Vinh Oil Factory in Hung Dung Ward, Vinh City, Nghe An province.
1 2 3 4 5 98 99
KIDO GROUP
ENVIRONMENTAL PROTECTION MANAGEMENT (continued) ENVIRONMENTAL PROTECTION ON EMISSIONS
SOURCE AND FLOW OF EXHAUST EMISSIONS

WASTEWATER SOURCES AND TREATMENT SYSTEMS During the operations, potential sources of air pollution at the company comprise:
The company’s wastewater originates from the following sources: » Dust and emissions from vehicles entering and leaving the project area;
» Wastewater generated from employee cleaning activities. » Dust generated during the loading and unloading of raw materials and products, as well as during the mixing
» Production wastewater results from routine cleaning of machinery and production equipment as well as stage;
periodic boiler blowdown water. » Dust is produced during the manufacturing process, particularly when mixing certain powdered ingredients at
Periodically, the Group conducts environmental impact assessments for each factory to determine the total the input stages. This dust, being small in size and weight, can easily spread and directly affect workers.
wastewater flow generated according to the design in the environmental protection plan. » Dust emissions from boiler exhaust;
» Emissions from backup generators;

WASTEWATER TREATMENT
» Odor from the garbage decomposition process at the project’s garbage collection location.
Domestic wastewater treatment Production wastewater treatment
Wastewater from EXHAUST GAS TREATMENT SYSTEM

Link the industrial park’s wastewater Production wastewater
toilets
collection infrastructure at one
point along the wastewater path To control these pollution sources, the company has taken several measures, including:
to the industrial park’s centralized
Treated by three wastewater treatment plant Measures to reduce dust, emissions and noise
Wastewater treatment station
compartment septic tank for further treatment to ensure
compliance with QCVN standards Vehicles entering and leaving the project must maintain slow speeds, with restrictions on access except for
set by the Ministry of Natural those transporting raw materials and finished products.
Wastewater treatment Resources and Environment before Linking to industrial park’s wastewater
discharge into the receiving source. Use water to regularly moisten roads and yards to reduce dust.
station collection infrastructure
Transport vehicles carrying raw materials must be covered with tarpaulin to prevent spillage that could
impact the environment and traffic.
PERIODICALLY WASTEWATER AND SLUDGE MONITORING For loading and unloading vehicles and company vehicles, ensure regular maintenance and proper loading to
minimize harmful emissions.
PERIODICALLY WASTEWATER MONITORING Use standard fuel with low sulfur concentration (0.05%) for vehicles.
Periodically, the Group collaborates with the competent Environmental Analysis and Measurement entity to sample Do not use expired vehicles.
and analyze the quality of wastewater generated at factories. Coordinate transportation effectively to prevent an excessive concentration of vehicles operating in the
Monitoring frequency: 04 times/year. project area at the same time.
Turn off the engine while waiting to load and unload goods.
Monitoring location and number of samples exceeding standards: NO.
Separate noise sources in the main production area from other sections within the factory.
MONITOR WASTEWATER CONTINUOUSLY AND AUTOMATICALLY Regularly check machine balance during installation, examine component wear, and assess lubricating oil
conditions.
The company is not in the case of performing automatic and continuous wastewater monitoring.
Attach to the fan outlet the muffler.
MONITOR SLUDGE PERIODICALLY Install noise-canceling pads for fan feet and production equipment.
Periodically, the Group conducts monitoring of sludge produced at factories by collaborating with the Environmental Use gas-powered vehicles in warehouses instead of gasoline and oil-powered ones to minimize noise pollution.
Analysis and Measurement entity to sample and analyze the quality of wastewater.
Plant trees around the factory premises to reduce noise impact on the surroundings.
Monitoring frequency: 02 times/year.

1 2 3 4 5 100 101
KIDO GROUP
ENVIRONMENTAL PROTECTION MANAGEMENT (continued)
ENVIRONMENTAL PROTECTION ON EMISSIONS (continued)
Measures to minimize dust impact during loading and unloading at the mixing stage Minimize the impact of odors from centralized garbage storage areas
To reduce dust exposure for workers during the mixing stage, the Company has implemented the following To effectively manage household and production waste, project owners must adhere to strict management
measures: measures throughout the collection, storage, and disposal process. It is essential to contract sanitation units
for timely transportation and avoid waste stagnation. During waste storage, project owners should implement
Equip workers in loading and unloading areas with masks;
the following measures:
Arrange transportation, loading, and unloading of raw materials and products at optimal times. Regularly
Arrange a separate garbage storage area and safe storage equipment;
clean the area after these activities to maintain a safe and clean environment;
Transfer household waste to collection and treatment units daily to avoid long-term waste stagnation;
Raw materials and products are carefully covered and secured to prevent any spillage during transportation,
loading, and unloading; Plant more trees around the garbage storage area to absorb some of the odor.
The mixing equipment is designed to be enclosed. The process of loading powder materials is done
simultaneously with the water supply to minimize dust generation;
PERIODIC EMISSION MONITORING
Additionally, the company maintains a high density of trees within the project area to prevent dust from
spreading into the surrounding environment. Periodically, the Group monitors emissions generated at factories by coordinating with a competent Environmental
Measurement and Analysis entity to take samples and analyze exhaust quality.
Monitoring frequency: 04 times/year.

Minimize the impact of dust and boiler emissions
The project’s boiler has a capacity of 2 to 2.6 tons of steam per hour and uses DO oil as fuel. The combustion The company is not in the case of performing automatic and continuous emissions monitoring.
process generates waste such as dust, SO2, NOx, and CO. However, according to Table 2.16, the concentration
of emissions from the oil-fired boiler is quite low and within the allowable limit set by QCVN 19:2009/BTNMT,
column B. Therefore, the factory only implements the following measures to effectively manage and control
boiler exhaust gas quality: ENVIRONMENTAL PROTECTION FOR WASTE
The boiler is equipped with a tall chimney to minimize the impact of exhaust smoke on neighboring factories. Solutions to prevent environmental incidents at the facility.
Use DO oil with low sulfur content S ≤ 0.05%;
Operate the boiler properly; For conventional solid waste management
Regularly check and maintain the boiler;
Monitor exhaust quality periodically. Each year, the Group collaborates with relevant authorities to manage, classify, and collect solid waste in
compliance with regulations. This includes compiling statistics on both domestic and industrial solid waste
from regular and unexpected operations at our factories.
Minimize the impact of backup generators
For hazardous waste management

Use low-sulfur DO oil to reduce SO2 concentration in the exhaust gas. With a sulfur content of 0.05%, the SO2
concentration will meet the allowed standards.
Each year, the Group collaborates with relevant units to compile statistics and reports on hazardous waste
The factory uses brand-new generators equipped with noise and vibration reduction components, minimizing
management.
the impact of noise, vibrations, and polluting exhaust fumes.
Hazardous waste management plan in the next reporting period:
For economic and environmental reasons, the project will prioritize using grid electricity.
Continue to manage, classify, collect, and treat solid waste in accordance with Decree 08/2022/ND-CP dated
The generator will be located in a dedicated building with thick, foam-insulated walls to limit noise emissions.
January 10, 2022, and Circular No. 02/2022/TT-BTNMT dated January 10, 2022, issued by the Ministry of Natural
Use high dispersion methods to dilute exhaust emissions into the air. Resources and Environment. These regulations detail the implementation of several articles of the Law on
Environmental Protection.
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KIDO GROUP
ENVIRONMENTAL PROTECTION MANAGEMENT (continued) Response measures:

In the event of a fire or explosion, the company will implement the following measures:
» Upon detecting a fire or explosion, immediately notify the quick response team.
PREVENTION, RESPONSE AND OVERCOMING OF ENVIRONMENTAL INCIDENTS » Move workers out of dangerous areas.
» Use available manpower and firefighting equipment on-site to minimize damage.
Efforts in preventing, responding to, and remediating environmental incidents are focused on addressing key areas, including:
» Based on the severity of the situation, the quick response team will decide whether to handle the incident
Solutions to prevent environmental incidents at the facility: internally or call the area’s fire prevention team for immediate assistance.
» Compensate for related damages, if any.
Labor safety methods
During operations, the company will implement the following measures to prevent occupational accidents: Prevention of environmental incidents
Develop comprehensive safety guidelines for every phase and aspect of production;
Provide complete personal protective equipment for workers; Prevent problems with water supply and drainage pipes
Equip our facilities with essential medical equipment, tools, and medicines to provide immediate first aid » Water supply and drainage pipes must have safe isolation lines.
before transferring any victim to the hospital; » Regularly check and maintain all connections and valves in the pipeline system. Conduct periodic dredging
Develop an incident response plan that identifies high-risk locations and ensures personnel and equipment of the sewer system.
are in place to provide timely information during an incident; » Ensure there is no construction on the water pipes.
Coordinate with specialized agencies to organize training sessions on emergency response, medical Prevent incidents related to septic tanks and local wastewater treatment systems
emergencies, and the effective use of communication tools and contact information in case of incidents;
The company must regularly monitor and maintain the septic tank to prevent possible incidents, such as:
Before starting work, all employees (including trainees) must undergo a health examination. Based on the
results, project owners will assign jobs that match each worker’s health condition to ensure suitability. » Blockages in the toilet or pipes that prevent waste from draining properly.
There is also a plan for periodic health examinations for employees, conducted at least once a year. These » Clogged septic tank exhaust pipes can cause foul odors in the toilet or even lead to a septic tank explosion.
examinations are performed by specialized units and comply with the regulations in Circular 14/2013/TT-BYT In such cases, the air duct must be cleared to eliminate odors and ensure toilet safety.
of the Ministry of Health. » Contract with a specialized unit for regular collection and pumping of septic tanks, ensuring waste is
treated according to regulations.
Prevent and respond to fire and explosion incidents For Wastewater Treatment System
» Equip the facility with backup machinery, such as wastewater pumps, stirring motors, and chemical dosing
The project is equipped with fire prevention, detection, and fighting equipment that meets both international
machines, to ensure immediate replacement if any equipment breaks down. This helps the treatment
and Vietnamese standards.
system operate continuously.
Establish a team dedicated to inspecting and road, 1-2 meters from the road’s edge. » The company selects engineers with specialized environmental training and experience to operate the
protecting the electrical network system to minimize wastewater treatment system.
To ensure a timely response to fire and explosion
fire incidents caused by short circuits and discharges.
incidents, we will install an automatic fire alarm system » The company’s environmental management staff will attend training classes organized by state agencies.
Fire prevention rules and orders are placed at and a direct fire extinguishing system with water cannons
entrances and in areas prone to fire and explosions. in all functional areas, following current regulations. » The company will contract with experienced entities to regularly maintain the wastewater treatment
system. This ensures any issues are promptly addressed, keeping the system in good working condition.
Strictly adhere to all standards and regulations on Set up a comprehensive lightning protection system
fire and explosion prevention during operations. for the entire project area and each functional » If any incident occurs in wastewater collection and treatment, immediately stop discharging waste into
subdivision, particularly in high-risk areas such as the the Industrial Park and notify the Industrial Park infrastructure management unit to implement an
The company’s employees receive thorough appropriate response plan.
power station, using the latest technologies to ensure
training and instructions on fire and explosion
maximum safety for project activities. To prevent incidents in the storage, collection, and treatment of solid waste
prevention methods.
Use active lightning protection devices and place » Ensure that 100% of the solid waste generated at our project is properly collected, stored, and treated
Regularly inspect and monitor fuel and chemical
lightning protection pillars to safeguard the project at according to regulations.
storage areas to prevent leaks that could cause
the required protection heights.
fires or explosions. » Ensure waste storage areas have enough capacity, are well-organized, and kept clean.
The raw material and fuel storage system is designed
Invest in fire protection equipment throughout » Solid waste is stored and packaged carefully to prevent any leakage of wastewater into the environment.
to meet all technical and safety standards.
the premises. Install a network of fire-fighting
water pipes in all main areas and place fire Vehicles transporting raw materials and fuel must » Assign personnel to supervise and monitor the collection and storage of waste. Coordinate with functional
hydrants near functional areas for easy access. be legally compliant and meet safety and technical units for timely collection and treatment to prevent waste from accumulating, especially domestic waste,
Firefighting shafts are positioned along the main standards for road transportation. which can cause bad odors, affect factory aesthetics, and harm workers’ health.
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KIDO GROUP
ENVIRONMENTAL PROTECTION MANAGEMENT (continued)
RAW MATERIALS USED FOR FINISHED PRODUCTS AND RECYCLING
BAKERY BUSINESS UNIT ICE CREAM BUSINESS UNIT
The flour cake factory was set to commence operations in June 2022, with a regular operating schedule. The Frozen Food Factory produces ice cream, yogurt, dumplings, and steamed buns. However, currently, the
company focuses only on producing ice cream and yogurt, while the production of dumplings and steamed
In 2023, the average monthly output reached 156.05 tons, distributed among various finished products such buns is not undertaken. Operating frequency: regularly.
as bread, sponge cake, and mooncake.
In 2023, the monthly average production volume of finished ice cream products will be 1.33 million liters, while
Main ingredients for cake production include wheat flour, sugar, milk, olein oil, shortening, yeast, eggs, the monthly average production volume of finished yogurt products will be 0.22 million liters.
butter, additives, meat, salted eggs, fruits, green beans, lotus seeds, taro, and packaging materials.
The main ingredients for ice cream production include milk, flavorings, colors, spices, ice cream base, crystallized
All raw materials used in the cake production are registered and used according to regulations. To date, sugar, maltose, coconut oil, flour, chocolate, and other pre-processed items like strawberries, bananas, beans,
there have been no incidents related to by-products or post-production waste in the recycling process. coconuts, apples, and almonds.
For yogurt production, the main ingredients include milk, flavors, colors, additives, yeast, maltose, crystallized
sugar, and pre-processed items like aloe vera, orange, longan, and melon.
All raw materials used in the production of ice cream and yogurt are registered and used according to
regulations. To date, there have been no incidents related to by-products or post-production waste in the
recycling process.
COOKING OIL BUSINESS UNIT
The basic products at oil factories consist of refined oil, finished oil, sesame oil, soybean oil, and butter.
Operating frequency: regularly.
In 2023, the monthly production volume of finished products ranged from 16,000 tons to 21,000 tons.
The primary ingredients used for producing finished products comprise palm oil, soybean oil, sunflower oil,
canola oil, and others.
All raw materials used to produce our finished products comply with regulations. Alongside the main ingredients
from the oil refining process, we produce by-products such as Oil Cake, Stearin, Shortening, and Mixed Fatty
Acids. These by-products are utilized as raw materials in the food processing and animal feed industries. The
company does not recycle these by-products internally. Instead, we supply them to businesses in the food
processing and animal feed sectors, ensuring efficient use of all materials in our production process.
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KIDO GROUP
REPORT OF THE BOARD OF DIRECTORS

& SUPERVISORY BOARD Information about the Board of Management and Chief Accountant
Appointed Ownership
REPORT OF THE BOARD OF DIRECTORS No. Member of the BoD Title Qualification
Date rate (%)
BOARD MEETING MINUTES & RESOLUTIONS 1 Mr. Tran Le Nguyen CEO Bachelor 06/09/2002 12.84%
In 2023, the Board of Directors (“BOD”) held 17 regular meetings. These meetings resulted in the issuance of the 2 Ms. Vuong Buu Linh Deputy CEO Bachelor 06/09/2002 0.95%
following Resolutions:
3 Ms. Vuong Ngoc Xiem Deputy CEO Bachelor 06/09/2002 0.13%
4 Ms. Nguyen Thi Xuan Lieu Deputy CEO Doctor 12/12/2014 0.07%
BOARD MEETINGS AND RESOLUTIONS OF THE BOD 5 Mr. Tran Quoc Nguyen Deputy CEO Bachelor 15/12/2010 0.22%
6 Mr. Wang Ching Hua Deputy CEO Bachelor 06/09/2002 0.49%

ACTIVITIES OF THE BOD TO THE BOARD OF MANAGEMENT
7 Mr. Mai Xuan Tram Deputy CEO Master 06/09/2002 0.09%

Information about members of the Board of Directors and meetings of the Board of Directors:
8 Mr. Bui Thanh Tung Deputy CEO Bachelor 15/12/2009 0.09%
Number
of 9 Mr. Tran Tien Hoang Deputy CEO Bachelor 05/01/2011 0.11%
meetings
Appointed Voting Ownership
No. Member of the BoD Title attended 10 Mr. Ma Thanh Danh Deputy CEO Bachelor 05/12/2013 0.00%
Date rate rate (%)
by the
Board of
11 Ms. Nguyen Thi Oanh Chief Accountant Bachelor 08/08/2011 0.05%
Directors
1 Tran Kim Thanh Chairman of the BoD 17/17 15/06/2020 100% 0.31%
Supervising activities of the Board of Directors to the Board of Management:
2 Tran Le Nguyen Vice Chairman of the 17/17 15/06/2020 100% 12.84%
» Every month, the Board of Directors requests a report on business performance from the Board of Management.
BoD
» During Board of Directors meetings, the Board of Management actively participates to understand the
3 Vuong Buu Linh Member of the BoD 17/17 15/06/2020 100% 0.95% leadership policy of the Board of Directors. Additionally, the Board of Management provides updates on the
production and business situation.
4 Vuong Ngoc Xiem Member of the BoD 17/17 15/06/2020 100% 0.13%
5 Tran Quoc Nguyen Member of the BoD 17/17 15/06/2020 100% 0.22%
ACTIVITIES OF THE BOARD OF DIRECTORS COMMITTEES
6 Nguyen Thi Xuan Lieu Member of the BoD 17/17 15/06/2020 100% 0.07%
The Internal Audit Committee, a subcommittee under the Company’s Board of Directors, operates in accordance
with the Company’s Internal Audit Regulations.
7 Nguyen Van Thuan Independent member 17/17 15/06/2020 100% 0.03%
of the BoD Ms. Nguyen Thi Xuan Lieu – a member of the Board of Directors is the Head of the Internal Audit Committee.
8 Nguyen Gia Huy Chuong Independent member 17/17 15/06/2020 100% 0.004%
of the BoD
9 Nguyen Duc Tri Independent member 17/17 15/06/2020 100% 0.004%

of the BoD
1 2 3 4 5 108 109
KIDO GROUP

& SUPERVISORY BOARD (continued)
REPORT OF THE BOARD OF DIRECTORS (continued) EVALUATION REPORT OF THE BOARD OF DIRECTORS
Some factors in 2023 have affected the Company’s operations

RESOLUTIONS/DECISIONS OF THE BOARD OF DIRECTORS
The global economic landscape is complex: inflation remains high, particularly in Europe and the US; there’s a
trend of rising interest rates and tightening monetary policies in many countries; and there are unusual weather
patterns across several continents. While Vietnam’s economy is showing signs of recovery, it will take time to fully
No. Resolution No. Date Content rebound and reclaim its position after these impacts. Inflation, in particular, is a concern for many businesses, and
the downsizing policies implemented by some companies have affected employment, making consumers more
1. KDC01/2023/NQ-HĐQT 17/01/2023 Resolution on seeking a partner for equity transfer at KIDO Frozen Foods cautious with their spending.
JSC.
2. KDC02/2023/NQ-HĐQT 10/02/2023 Resolution on the final registration date for payment of special dividends In 2023, KIDO Group underwent a significant restructuring to adaptively organize and streamline its business
in cash. systems across business units. Technology will be integrated into all operations throughout the entire Group,
aiming for greater efficiency and effectiveness. Specifically:
3. KDC03/2023/NQ-HĐQT 23/02/2023 Resolution on delaying to finalize the special cash dividend list and solicit
shareholders' written vote.
» KIDO currently holds the top position in Vietnam’s ice cream business unit, commanding a market share of 46.7%
4 KDC04/2023/NQ-HĐQT 23/02/2023 Resolution on capital contribution to establish TA Food and Spice JSC. (as per the latest Euromonitor data). Within this market share, the Merino brand represents 25.9%, while the
5 KDC05/2023/NQ-HĐQT 04/04/2023 Resolution on proceeding with the employee stock option plan and ensure Celano brand holds 19.6%.
compliance with foreign ownership regulations.
» KIDO holds the 2nd position in Vietnam’s cooking oil business unit with prominent brands like Tuong An Cooking
6 KDC06/2023/NQ-HĐQT 17/04/2023 Resolution on extending the deadline for holding the 2023 Annual General Oil, Marvela, Olita, and Vio…
Meeting of Shareholders.
7 KDC07/2023/NQ-HĐQT 19/04/2023 Resolution on approving the investment policy in the enterprise owning the » KIDO is the leading the butter segment with a 74.9% market share (according to Euromonitor data in 2022).
Tho Phat brand.
» KIDO’s Bakery fresh cakes have rapidly expanded their retail network across the country.
8 KDC08/2023/NQ-HĐQT 08/05/2023 Resolution on the date of final registration of the Annual General Meeting of
Shareholders in 2023.
» KIDO’s Bakery mooncakes have quickly become one of the top 3 major brands in terms of business scale after
9 KDC09/2023/NQ-HĐQT 06/06/2023 Resolution on approving the program and agenda for the 2023 Annual just 2 years of re-entering the market.
10 KDC10/2023/NQ-HĐQT 27/06/2023 Resolution on election to replace the chairman of the 2023 Annual General » Expanding the KIDO’s Confectionery brand.
» Leading the dumpling manufacturing industry in Vietnam with the Tho Phat brand.
11 KDC11/2023/NQ-HĐQT 10/07/2023 Resolution on selecting an auditing firm for the 2023 financial statements.
12 KDC12/2023/NQ-HĐQT 24/07/2023 Resolution on determining standards and list of employees eligible to » Launching a shopping, entertainment, and promotional channel: E2E on the TikTok platform.
participate in the employee stock option program - Principles for determining
shares to be distributed to each people and implementation time. Results of business performance in 2023
13 KDC12A/2023/NQ- 01/12/2023 Resolution on approving for handling shares of employees who do not According to the Resolution passed at the 2023 Annual General Meeting of Shareholders, here are the implementation
HĐQT exercise their purchase rights in the employee stock option program. results: KIDO Group achieved a net revenue of 8,650 billion VND, which represents 57.7% completion of the annual
14 KDC14/2023/NQ-HĐQT 06/12/2023 Resolution on approving the results of employees exercising their purchasing plan. The pre-tax profit for 2023 amounted to 323 billion VND, achieving 35.9% of the annual target.
rights in the stock issuance under the company's employee option program.
The company has ensured employment and income for its workers, contributed to the state budget, and engaged
15 KDC15/2023/NQ-HĐQT 19/12/2023 Resolution on approving amendments to the Charter, adjusting the business
in various support and community-sharing initiatives.
registration certificate, registering additional securities with the Securities
Depository Centers and registering additional securities listing with the Ho
The Group’s 2023 financial statements have been audited by Ernst & Young Co. Ltd with an unqualified opinion.
Chi Minh City Stock Exchange.
16 KDC16/2023/NQ-HĐQT 27/12/2023 Resolution on the final registration date for exercising the right to receive In both favorable and challenging economic conditions, the accomplishments mentioned above reflect the
special dividends in cash for the year 2022. remarkable dedication of the Board of Directors, Board of Management, and staff members of the Group.
17 KDC17/2023/NQ-HĐQT 27/12/2023 Resolution on approving the plan to distribute treasury shares to existing
shareholders.
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KIDO GROUP

& SUPERVISORY BOARD (continued) Conclusion of the Supervisory Board’s activities
» Accounting records have been thoroughly reviewed to ensure accuracy and compliance with regulations.
REPORT OF THE SUPERVISORY BOARD » The company consistently follows current legal requirements regarding information disclosure in the stock
market.
ACTIVITIES OF THE SUPERVISORY BOARD
» The Supervisory Board will continue to accompany and oversee the Company’s operations.
Information about members of the Supervisory Board (“BOS”) and meetings of the Supervisory Board
EVALUATION REPORT OF THE SUPERVISORY BOARD
Number of
Member of the Date of Voting Ownership
No. Position BOS meetings
Supervisory Board appointment rate ratio (%)
attended
1 Nguyen Thi Ngoc Chi Head of the 2/2 15/06/2020 100% 0.00% ASSESSMENT OF THE IMPLEMENTATION RESULTS
Supervisory Board
OF THE ANNUAL MEETING OF SHAREHOLDERS IN 2023
2 Luong Quang Hien Member of the 2/2 15/06/2020 100% 0.00%
Supervisory Board
3 Luong My Duyen Member of the 2/2 15/06/2020 100% 0,00% CONSOLIDATED BUSINESS PLAN IN 2023:
Supervisory Board
Unit: Billion VND
No. Items Planned Implemented Implemented/
Supervising activities of the Supervisory Board for the Board of Directors, Board of Management and shareholders Planned (%)
1 Net Revenue 15,000 8,650 57.7%
» The Board of Directors adheres to the Enterprise Law and the Company’s Charter in all its activities. It convenes
regular meetings and ensures prompt implementation of resolutions by the Board of Management. 2 Profit before tax 900 323 35.9%
» Discussions and voting during Board meetings are based on resolutions of the General Meeting of Shareholders
PROFIT DISTRIBUTION PLAN IN 2023
and fall within the Board’s authority, as defined by the Enterprise Law and the Company’s Charter.
» The Board of Management fully participates in meetings with the Board of Directors. PLANNED IMPLEMENTED
The Board of Directors proposes to the General Meeting of Shareholders In 2023, the Company has not yet
for approval to amend the 2022 special cash dividend plan to 10%, which paid cash dividends for the year at
Coordination between the Supervisory Board and the activities of the Board of Directors, Board of equals 1,000 VND/share, and to endorse a projected cash dividend rate for the rate of 6% (600 VND/share).
Management and other managers 2023 at 6% of the share par value, equivalent to 600 VND/share.
» The Board of Directors and Board of Management have made considerable effort, consistently guiding employees On January 11, 2024, the Company
to optimize management expenses, and ensuring stability and growth in production and business operations. The General Meeting of Shareholders grants authority to the Board of disbursed special dividends for 2022
Directors to determine the appropriate timing for dividend payments in at a rate of 10% (1,000 VND/share).
» The Supervisory Board is invited to participate in meetings with the Board of Directors and the Board of compliance with legal regulations.
Management.
SELECTION OF AN INDEPENDENT AUDITOR FOR THE FINANCIAL STATEMENTS IN 2023
» The Supervisory Board reviews and oversees the management and execution of business goals by the Board
of Directors and the Board of Management, ensuring the legality and appropriateness of business operations
throughout the year as per the resolutions of the General Meeting of Shareholders. PLANNED IMPLEMENTED
The General Meeting of Shareholders has authorized the Board of Directors The Board of Directors has chosen
» Review and oversee the implementation of resolutions and decisions made by the Board of Directors and the to choose an auditing firm from the following 4 options based on both Ernst & Young Vietnam Company
Board of Management. price proposals and service quality: as the independent auditor for the
1. Ernst & Young Vietnam Co. Ltd (E&Y). Company for the fiscal year 2023.
» The Supervisory Board receives continuous support from the Board of Directors, the Board of Management, 2. PwC Vietnam Co. Ltd (PwC).
and other departments. Their activities remain independent and do not impede the Company’s operational 3. Deloitte Vietnam Co. Ltd.
functions. The collaborative dynamics among the Supervisory Board, the Board of Directors, and the Board of 4. KPMG Vietnam Co. Ltd.
Management adhere to established standards, the Enterprise Law, and the Company’s Charter.
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KIDO GROUP

& SUPERVISORY BOARD (continued)
REPORT OF THE SUPERVISORY BOARD (continued)
EVALUATION OF THE BOARD OF DIRECTORS’ ACTIVITIES
2023 - KEY DECISIONS MADE BY THE BOARD OF DIRECTORS
Plan Result
» Resolution on seeking a partner for equity transfer at KIDO Frozen Foods The organization of meetings
JSC. and issuance of documents
of the Board of Directors are
» Resolution on delaying to finalize the special cash dividend list and carried out in compliance both
solicit shareholders' written vote. legal requirements and the
» Resolution on proceeding with the employee stock option plan and ensure Company’s Charter.
compliance with foreign ownership regulations.
» Resolution on extending the deadline for holding the 2023 Annual General
» Resolution on approving the investment policy in the enterprise owning

the Tho Phat brand.
» Resolution on approving the program and agenda for the 2023 Annual
» Resolution on selecting an auditing firm for the 2023 financial statements.
» Resolution on approving for handling shares of employees who do not FINANCIAL STATEMENTS RESULTS IN 2023 TRAINING ON CORPORATE
exercise their purchase rights in the employee stock option program. GOVERNANCE
» Resolution on approving the results of employees exercising their The financial indicators have properly reflected the
Company’s current business operations, continuity and Corporate governance training courses for members of
purchasing rights in the stock issuance under the company's employee
debt solvency. the Board of Directors, the Supervisory Board, Directors
option program.
(General Director), other managers, and the Company
» Resolution on approving amendments to the Charter, adjusting the Secretary, as required by company governance
Financial Ratios FY2023
business registration certificate, registering additional securities with the regulations: Not available
Securities Depository Centers and registering additional securities listing Gross profit margin (%) 17.8%
with the Ho Chi Minh City Stock Exchange. Profit before tax margin (%) 3.7%
» Resolution on the deadline for exercising the right to receive special ROE (%) 1.9%
dividends in cash for the year 2022. Current ratio (times) 1.65 times
Debt-to-total assets ratio (times) 0.43 times
BUILDING TRUST
SHARING PROSPERITY
INTEGRATED COMMITMENT TO THE COMMUNITY
SHARING RESPONSIBILITY IN COMMUNITIES ANNUAL REPORT 2023
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KIDO GROUP
ACTIVITIES FOR THE COMMUNITY
THROUGHOUT ITS MORE THAN 30 YEARS OF ESTABLISHMENT AND GROWTH, KIDO

HAS EMERGED AS A REPUTABLE BRAND IN THE ESSENTIAL FOODS SECTOR, EARNING
THE TRUST, LOVE, AND SUPPORT OF CONSUMERS NATIONWIDE. KIDO ACKNOWLEDGES
THAT ALONGSIDE EFFECTIVE STRATEGIES AND BUSINESS PLANS, A KEY FACTOR
CONTRIBUTING TO THIS SUCCESS IS THE ESTABLISHMENT OF A STRONG COMPANY
REPUTATION IN THE HEARTS OF CONSUMERS. THIS ENTAILS FOSTERING CUSTOMER
AND PARTNER LOYALTY TOWARDS THE GROUP’S DEVELOPMENT VISION, EARNING
CONSUMER TRUST AND PATRONAGE FOR ITS PRODUCTS AND SERVICES, AND
UPHOLDING CORPORATE COMMITMENTS TO SOCIETAL WELFARE AND ETHICAL VALUES
THROUGHOUT KIDO’S SUSTAINABLE DEVELOPMENT JOURNEY.
In response to the call from the Vietnam Fatherland Front Committee in Ho Chi Minh City, KIDO Group contributed
500,000,000 VND to the “City of Gratitude - Connecting Love” program. This donation aims to support various social
security activities from the end of 2023 through 2024, particularly focusing on preparations for the Lunar New Year
The year 2023 remained arduous and demanding for the global economy. Prolonged conflicts, surging inflation, and the
of the Dragon in 2024. The program targets individuals and households facing financial difficulties, including the poor,
impacts of climate change have all taken their toll on economies worldwide, Vietnam included. Declining exports and a
near-poor, and those in particularly challenging circumstances due to natural disasters or illnesses. The donated funds
dearth of orders have resulted in over 1 million workers being laid off, while diminished purchasing power in the market
will be utilized for housing construction and repairs, as well as the purchase of essential supplies, tools, seeds, livestock,
has significantly hampered the production and operations of numerous companies.
and equipment to support livelihoods. Additionally, the program will provide scholarships for students, sponsorships for
academic achievers facing adversity, medical treatment assistance, emergency support, and Lunar New Year assistance
Despite facing the ripple effects, KIDO Group has remained committed to its motto “Companies must be associated
for the underprivileged. This marks the 17th year of KIDO’s partnership with the Vietnam Fatherland Front Committee in
with social responsibility”. Throughout the past year, the company has consistently engaged in volunteer activities
supporting vulnerable individuals, with a total contribution estimated at over 7 billion VND.
alongside government agencies. The total value of contributions made thus far amounts to nearly 4.2 billion VND.
In addition to the aforementioned activities, the Group also partners with various units and associations in
As part of its ongoing commitment to volunteerism, in 2023, KIDO continued its support by contributing 1 billion VND
charitable endeavors. For instance, collaborating with the Association for the Protection of People with Disabilities,
towards eye examinations, surgeries, and free medication for cataract patients. The initiative was organized by the City
Children’s Rights, and Poor Patients in Quang Nam Province to provide gifts and assistance to disadvantaged
Poor Patients Sponsoring Association in Ho Chi Minh City and was conducted in both Ho Chi Minh City and An Giang
individuals in celebrating the Year of the Cat 2023. Moreover, the Group joins the “Long Journey of Love - Spring
province in June and September 2023. Through this endeavor, the Group has facilitated the restoration of eyesight
Returns to Then Chu Phin” program to bring the spirit of spring to children in Ha Giang Province. It also collaborates
for numerous underprivileged individuals. Additionally, KIDO provided spiritual encouragement by offering gifts to the
with the Textile Industry Union of Binh Duong province to distribute gifts to union members facing hardship and
participating patients. Over the past 27 years, KIDO has stood alongside the City Poor Patients Sponsoring Association in
works with the Department of Labor, War Invalids, and Social Affairs of Binh Duong province to provide assistance
Ho Chi Minh City, aiding over 700,000 disadvantaged patients across Vietnam in reclaiming their sight, with a
to disabled children in the region. Additionally, in partnership with Thanh Nien Newspaper, the Group supports
total donation exceeding 27 billion VND.
children orphaned by the Covid-19 epidemic. Furthermore, it participates in activities organized by trade unions of
export processing zones and tourism associations to improve the lives of employees facing difficulties.
In 2023, KIDO marked its second year back in the mooncake market. Alongside pioneering new trends in indulgence while
upholding cultural traditions during the mid-autumn festival, KIDO also organized a series of volunteer activities across
Alongside volunteer initiatives, in November 2023, the Group officially launched the E2E project on social platforms,
various locations. These included the Textile and Garment Industry Union of Binh Duong Province, Go Vap District Child
integrating shopping, entertainment, and trade promotion. This initiative aims to unlock numerous business
Care Center, University of Medicine and Pharmacy Hospital in Ho Chi Minh City, the center for disabled children at Nguyen
prospects, enhance marketing efforts, and support trade promotion activities for businesses, particularly small
Hong Son School in Quang Ngai Province, the Trade Union of industrial parks in Dong Thap Economic Zone, and several
and medium-sized enterprises, as they recover from the impact of the Covid-19 pandemic and navigate through
other child protection centers. Through these efforts, KIDO distributed over 6,000 mooncakes to underprivileged
current economic challenges. Additionally, leveraging the existing logistics platform of E2E, this project seeks to
children and soldiers stationed on remote islands, spreading encouragement and love throughout the country during
establish direct business connections with customers.
the 2023 mid-autumn season.
Through these initiatives, KIDO Group aims to collaborate with individuals in overcoming present challenges,
fostering hope, and partnering with SMEs and associations to foster business growth and stimulate economic and
trade activities amid the current challenging market conditions. This commitment reflects KIDO’s longstanding
mission throughout its operational journey.
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KIDO GROUP
AWARDS AND RECOGNITION
1
KIDO GROUP WAS RECOGNIZED “OUTSTANDING M&A STRATEGIC BUSINESSES
KIDO, ITS MEMBER COMPANIES AND BRANDS HAVE CONSISTENTLY EARNED HIGH PRAISE FROM
STATE AUTHORITIES AND ORGANIZATIONS IN 2023, THANKS TO THEIR COMMITMENT TO SUSTAINABLE
DEVELOPMENT, INTEGRATED BUSINESS RESPONSIBILITY TOWARDS THE COMMUNITY.
OF 2009 - 2023”
Throughout its growth journey, KIDO has distinguished itself with strategic mergers and
2
acquisitions, joint ventures, and partnerships with leading players in the food industry. Notable
M&A transactions include the acquisition of Unilever’s Wall’s Ice Cream Factory, the merger with
Vinabico, and investments in controlling stakes of companies like Tuong An, Vocarimex, and Golden
Hope Nha Be. Most recently, KIDO secured a deal to acquire a 68% stake in Tho Phat, Vietnam’s top
dumpling manufacturer.
KIDO - TOP 50 MOST EFFECTIVE BUSINESSES IN VIETNAM IN 2023
Through each transaction, KIDO has demonstrated its corporate vision and the ability to identify
companies with growth potential, integrating them into the Group to create effective synergies
and advantages post-merger. On November 28, the 15th Vietnam M&A Forum 2023 was held by Dau The “50 Most Effective Businesses in Vietnam” (TOP50) ranking is an esteemed annual assessment conducted
Tu Newspaper in Ho Chi Minh City with the sponsorship of the Ministry of Planning and Investment. by Nhip Cau Dau Tu Magazine in partnership with Thien Viet Securities Company. This evaluation involves
At this forum, KIDO Group was recognized as an enterprise with a distinctive M&A strategy for the consultations with prominent economic and business experts, including those from Harvard Business School,
period 2009 - 2023, contributing to the strong development of the merged entities and leading in to identify and commend companies demonstrating effectiveness within the Vietnamese stock market.
their respective industries.
The TOP50 ranking is determined by assessing companies’ business performance over consecutive three
year periods (2019 - 2021), focusing on three key growth indicators: revenue, return on equity (ROE), and
return on investment (ROI). The aim of this evaluation is to provide an objective assessment of each
enterprise’s management capacity.
With net revenues of 7,210 billion VND in 2019; 8,234 billion VND in 2020; and 10,497 billion VND in 2021,
KIDO Group has achieved a remarkable achievement by securing a spot among the Top 50 most effective
businesses in Vietnam in 2023. This achievement is an evidence to the Group Board of Management’s
thoughtful strategies and diligent market monitoring. It serves as both recognition from industry experts
and motivation for KIDO to continue growing alongside the economy, thereby contributing to societal
development and creating more employment opportunities.
1 2 3 4 5 120 121
KIDO GROUP
AWARDS AND RECOGNITION (continued)
4
3
KIDO GROUP AND VIETNAM VEGETABLE OIL INDUSTRY CORPORATION - VOCARIMEX
TUONG AN - TOP 10 REPUTABLE FOOD COMPANIES IN 2023
WERE HONORED TO RECEIVE CERTIFICATES OF MERIT FROM THE CHAIRMAN OF

On October 26, in Hanoi, Vietnam Report
THE HO CHI MINH CITY PEOPLE’S COMMITTEE. THIS RECOGNITION WAS FOR THEIR JSC in partnership with VietNamNet
OUTSTANDING ADVOCACY EFFORTS AND SOCIAL CHARITY CONTRIBUTIONS OVER online newspaper, hosted an event
MANY YEARS, WHICH HAVE SIGNIFICANTLY CONTRIBUTED TO THE GROWTH AND to announce the Profit500 list of the
DEVELOPMENT OF THE CITY POOR PATIENTS SPONSORING ASSOCIATION. Top 500 Most Profitable Enterprises
in Vietnam, along with the Top 10
reputable companies in the Food –
Over the past 25 years, KIDO Group has been a steadfast partner of the City Poor Patients Sponsoring Beverage – Retail - Packaging industry
Association in Ho Chi Minh City. Through programs offering free eye examinations, surgeries, and in 2023.
medications for cataract patients, the Group has contributed to restoring sight for over 700,000
underprivileged patients in Vietnam. This noble effort involved donations totaling tens of billion VND. At the event, Tuong An Vegetable Oil
JSC, a member of the KIDO Group,
Additionally, the Group established the KIDO Poor Patients Sponsorship Association in collaboration proudly joined the ranks of the Top 10 as Nestle Vietnam Co. Ltd, Mondelēz Kinh Do Vietnam
with the City Poor Patients Sponsorship Association in Ho Chi Minh City. This initiative actively engages Prestige Food Companies in 2023. JSC, Orion Vina Food Co. Ltd, Herbalife Vietnam Co.
in charitable activities to support underprivileged patients in the city and across the country. Ltd, Thanh Thanh Cong-Bien Hoa JSC, Quang Ngai
Alongside Tuong An, the list of Top 10 Sugar JSC, Hoang Mai Trading and Production Co. Ltd,
In appreciation of their significant contributions, the Chairman of Ho Chi Minh City People’s reputable Food Companies in 2023 also Perfetti Van Melle (Vietnam) Co. Ltd, Bibica JSC, and
Committee recently awarded a Certificate of Merit to KIDO Group and its member company - features well-known businesses such Long Hai Co. Ltd.
Vocarimex for their outstanding efforts in advocacy and social charity initiatives over the years.
These efforts have greatly contributed to the establishment and development of the City Poor
Patient Sponsorship Association, as stipulated in Decision No. 227/QD-UBND.
5
TUONG AN RANKS AMONG THE TOP 10 MOST CHOSEN BRANDS IN URBAN
AREAS IN 2023
According to the annual report

Vietnam Brand Footprint 2023, Tuong
An brand has secured a spot in the
Top 10 most chosen brands in urban
areas, particularly in the Packaged
Food category. Despite economic
challenges stemming from post-
Covid-19 recovery, the Russia-Ukraine
conflict, and prolonged inflation, Tuong
An brand saw significant success
with 7 million purchases in 2023. This
achievement highlights its resilience
and strong appeal to consumers
amidst uncertain times.
DRIVING SUSTAINABILITY
FOR TOMORROW’S SUCCESS
CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT 2023
1 2 3 4 5 124 125
KIDO GROUP
GENERAL INFORMATION GENERAL INFORMATION (continued)
THE COMPANY MANAGEMENT
Kido Group Corporation (“the Company”) is a shareholding company incorporated under the Law on Enterprise Members of the management during the year and at the date of this report are:
of Vietnam pursuant to the Business Registration Certificate (“BRC”) No. 4103001184 issued by the Department
of Planning and Investment (“DPI”) of Ho Chi Minh City on 6 September 2002 and the subsequent amended BRCs.
Mr Tran Le Nguyen General Director
The Company’s shares were listed on the Ho Chi Minh Stock Exchange in accordance with the License No. 39/UBCK-GPNY
issued by the State Securities Commission on 18 November 2005. Ms Vuong Buu Linh Deputy General Director
The current principal activities of the Company are to sell and purchase food products, oils raw materials and to Ms Vuong Ngoc Xiem Deputy General Director
manage investments in subsidiaries.
Ms Nguyen Thi Xuan Lieu Deputy General Director
The Company’s registered head office is located at No. 138 - 142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh
City, Vietnam.
Mr Tran Quoc Nguyen Deputy General Director
BOARD OF DIRECTORS Mr Wang Ching Hua Deputy General Director
Members of the Board of Directors during the year and at the date of this report are: Mr Mai Xuan Tram Deputy General Director
Mr Bui Thanh Tung Deputy General Director

Mr Tran Kim Thanh Chairman
Mr Tran Le Nguyen Vice Chairman Mr Tran Tien Hoang Deputy General Director
Ms Vuong Buu Linh Member Mr Ma Thanh Danh Deputy General Director

Ms Vuong Ngoc Xiem Member
LEGAL REPRESENTATIVE
Mr Tran Quoc Nguyen Member
Ms Nguyen Thi Xuan Lieu Independent The legal representative of the Company during the year and at the date of this report is Mr Tran Kim Thanh.
Mr Nguyen Van Thuan Independent member Mr Tran Le Nguyen is authorized by Mr Tran Kim Thanh to sign the accompanying consolidated financial statements
for the year ended 31 December 2023 in accordance with the Letter of Authorisation No.20/2024/UQ-KDC dated
Mr Nguyen Gia Huy Chuong Independent member 1 January 2024.
Mr Nguyen Duc Tri Independent member
AUDITORS
BOARD OF SUPERVISION
The auditor of the Company is Ernst & Young Vietnam Limited.
Members of the Board of Supervision during the year and at the date of this report are:
Ms Nguyen Thi Ngoc Chi Head
Mr Luong Quang Hien Member
Ms Luong My Duyen Member

1 2 3 4 5 126 127
KIDO GROUP
REPORT OF MANAGEMENT REPORT OF MANAGEMENT (continued)
Management of Kido Group Corporation (“the Company”) is pleased to present its report and the consolidated STATEMENT BY MANAGEMENT
financial statements of the Company and its subsidiaries (“the Group”) for the year ended 31 December 2023.
Management does hereby state that, in its opinion, the accompanying consolidated financial statements give a true
and fair view of the consolidated financial position of the Group as at 31 December 2023, and of the consolidated
MANAGEMENT’S RESPONSIBILITY IN RESPECT OF THE CONSOLIDATED FINANCIAL STATEMENTS results of its operations and its consolidated cash flows for the year then ended in accordance with Vietnamese
Accounting Standards, Vietnamese Enterprise Accounting System and the statutory requirements relevant to the
Management is responsible for the consolidated financial statements of each financial year which give a true and preparation and presentation of the consolidated financial statements.
fair view of the consolidated financial position of the Group and of the consolidated results of its operations and
its consolidated cash flows for the year. In preparing those consolidated financial statements, management is
required to: For and on behalf of management:
◊ select suitable accounting policies and then apply them consistently;

◊ make judgments and estimates that are reasonable and prudent;
◊ state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the consolidated financial statements; and
◊ prepare the consolidated financial statements on the going concern basis unless it is inappropriate to presume
that the Group will continue its business.
Tran Le Nguyen
Management is responsible for ensuring that proper accounting records are kept which disclose, with reasonable General Director
accuracy at any time, the consolidated financial position of the Group and to ensure that the accounting records
comply with the applied accounting system. It is also responsible for safeguarding the assets of the Group and Ho Chi Minh City, Vietnam
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
29 March 2024
Management confirmed that it has complied with the above requirements in preparing the accompanying
consolidated financial statements.
1 2 3 4 5 128 129
KIDO GROUP
Reference: 11611908/66926751/HN
INDEPENDENT AUDITOR’S REPORT INDEPENDENT AUDITOR’S REPORT (continued)
To: The Shareholders of Kido Group Corporation Opinion
In our opinion, the consolidated financial statements give a true and fair view, in all material respects, of the
We have audited the accompanying consolidated financial statements of Kido Group Corporation (“the Company”) consolidated financial position of the Group as at 31 December 2023, and of the consolidated results of its
and its subsidiaries (collectively referred to as “the Group”), as prepared on 29 March 2024 and set out on pages 130 operations and its consolidated cash flows for the year then ended in accordance with Vietnamese Accounting
to 179, which comprise the consolidated balance sheet as at 31 December 2023, the consolidated income statement Standards, Vietnamese Enterprise Accounting System and the statutory requirements relevant to the preparation
and the consolidated cash flow statement for the year then ended and the notes thereto. and presentation of the consolidated financial statements.
Management’s responsibility Ernst & Young Vietnam Limited
The Company’s management is responsible for the preparation and fair presentation of the Group’s consolidated
financial statements in accordance with Vietnamese Accounting Standards, Vietnamese Enterprise Accounting
System and the statutory requirements relevant to the preparation and presentation of the consolidated financial
statements, and for such internal control as management determines is necessary to enable the preparation and
presentation of the consolidated financial statements that are free from material misstatement, whether due to
fraud or error.

Duong Le Anthony Nguyen Minh Thanh
Auditors’ responsibility
Deputy General Director Auditor
Audit Practicing Registration Certificate Audit Practicing Registration Certificate
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We
No. 2223-2023-004-1 No. 5559-2020-004-1
conducted our audit in accordance with Vietnamese Standards on Auditing. Those standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether
Ho Chi Minh City, Vietnam
the consolidated financial statements are free from material misstatement.
29 March 2024
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
consolidated financial statements. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the consolidated financial statements, whether due to
fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Group’s
preparation and fair presentation of the consolidated financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the Group’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation
of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
1 2 3 4 5 130 131
KIDO GROUP
CONSOLIDATED BALANCE SHEET CONSOLIDATED BALANCE SHEET (continued)

as at 31 December 2023 B01-DN/HN B01-DN/HN as at 31 December 2023
VND VND
Code ASSETS Notes Ending balance Beginning balance Code ASSETS Notes Ending balance Beginning balance
100 A. CURRENT ASSETS 6,964,136,145,544 6,980,387,823,046 200 B. NON-CURRENT ASSETS 5,426,878,007,945 7,024,404,855,817
110 l. Cash and cash equivalents 6 2,185,022,243,991 1,100,151,822,205 210 I. Long-term receivables 10 21,548,541,757 42,708,288,926
111 1. Cash 1,252,818,476,565 1,048,127,930,953 212 1. Long-term advance to supplier 9,661,149,878 10,843,153,926
112 2. Cash equivalents 932,203,767,426 52,023,891,252 215 2. Long-term loan receivables - 30,000,000,000
120 II. Short-term investments 618,777,587,704 522,771,780,578 216 3. Other long-term receivables 11,887,391,879 1,865,135,000
121 1. Held-for-trading securities 401,120,064 401,120,064 220 II. Fixed assets 2,582,180,231,270 2,627,954,489,677
2. Provision for diminution in value of held-for-trading 221 1. Tangible fixed assets 11 994,693,260,598 929,293,158,601
122 (1,194,057) (1,503,829)
securities
222 Cost 2,175,681,239,680 2,579,537,008,222
123 3. Held-to-maturity investments 15.1 618,377,661,697 522,372,164,343
223 Accumulated depreciation (1,180,987,979,082) (1,650,243,849,621)
130 III. Current accounts receivable 7 2,957,423,846,376 2,948,739,786,819
227 2. Intangible assets 12 1,587,486,970,672 1,698,661,331,076
131 1. Short-term trade receivables 378,744,521,321 509,552,788,711
228 Cost 2,288,028,206,721 2,346,871,714,035
132 2. Short-term advances to suppliers 269,432,984,408 437,926,095,522
229 Accumulated amortization (700,541,236,049) (648,210,382,959)
135 3. Short-term loan receivables 740,000,000,000 258,000,000,000
230 III. Investment properties 13 4,216,160,050 4,408,541,182
136 4. Other short-term receivables 1,577,189,932,891 1,743,447,255,952
231 1. Cost 11,797,057,729 11,797,057,729
137 5. Provision for doubtful short-term receivables (7,943,592,244) (839,058,965)
232 2. Accumulated depreciation (7,580,897,679) (7,388,516,547)
139 6. Shortage of assets waiting for resolution - 652,705,599
240 IV. Long-term asset in progress 4,901,616,530 74,959,353,181
140 IV. Inventories 8 1,072,280,080,528 2,212,305,861,196
242 1. Construction in progress 14 4,901,616,530 74,959,353,181
141 1. Inventories 1,077,151,281,358 2,218,599,258,974
250 V. Long-term investments 2,042,698,551,939 3,975,458,431,647
149 2. Provision for obsolete inventories (4,871,200,830) (6,293,397,778)
1. Investments in associates and
252 15.2 2,695,211,462,093 3,969,088,431,647
150 V. Other current assets 130,632,386,945 196,418,572,248 jointly controlled entities
151 1. Short-term prepaid expenses 9 16,314,483,828 23,673,597,175 254 2. Provision for long-term investments 15.2 (753,660,362,154) -
152 2. Value-added tax deductible 19 82,004,968,587 161,162,564,871 255 3. Held-to-maturity investments 15.1 101,147,452,000 6,370,000,000
153 3. Tax and other receivables from the State 19 32,312,934,530 11,582,410,202 260 VI. Other long-term assets 771,332,906,399 298,915,751,204
261 1. Long-term prepaid expenses 9 98,824,887,542 78,819,525,112
262 2. Deferred tax assets 31.3 61,678,605,752 76,466,105,361
269 3. Goodwill 5 610,829,413,105 143,630,120,731
270 TOTAL ASSETS 12,391,014,153,489 14,004,792,678,863

1 2 3 4 5 132 133
KIDO GROUP
CONSOLIDATED BALANCE SHEET (continued) CONSOLIDATED INCOME STATEMENT

as at 31 December 2023 B01-DN/HN B02-DN/HN for the year ended 31 December 2023
VND VND
Code ASSETS Notes Ending balance Beginning balance Code ITEMS Notes Current year Previous year
300 C. LIABILITIES 5,277,094,578,456 6,952,065,052,069 01 1. Revenue from sale of goods and rendering of services 24.1 8,905,535,115,422 12,787,155,345,809
310 I. Current liabilities 4,214,062,392,084 5,427,179,815,958 02 2. Deductions 24.1 (255,918,909,276) (251,971,860,773)
311 1. Short-term trade payables 16 426,193,873,874 548,948,813,688 10 3. Net revenue from sale of goods and rendering of services 24.1 8,649,616,206,146 12,535,183,485,036
312 2. Short-term advances from customers 17 87,223,572,571 25,435,506,047
11 4. Cost of goods sold and services rendered 25 (7,113,403,563,848) (10,261,577,092,648)
313 3. Statutory obligations 19 87,023,309,895 76,055,005,885
314 4. Payables to employees 17,406,636,448 12,289,507,316 20 5. Gross profit from sale of goods and rendering of services 1,536,212,642,298 2,273,606,392,388
315 5. Short-term accrued expenses 18 287,831,906,665 342,604,859,020 21 6. Finance income 24.2 1,330,234,022,531 249,972,853,284
318 6. Short-term unearned revenues 187,945,590 187,945,590 22 7. Finance expenses 26 (1,016,861,071,820) (273,960,693,454)
319 7. Other short-term payables 20 377,686,964,668 107,012,447,591
23 In which: Interest expense (240,963,936,871) (232,943,464,615)
320 8. Short-term loans 21 2,826,214,499,530 4,168,303,495,655
24 8. Shares of profit of joint ventures and associates 15.2 75,292,045,453 104,078,863,561
322 9. Bonus and welfare fund 22 104,293,682,843 146,342,235,166
330 II. Non-current liabilities 1,063,032,186,372 1,524,885,236,111 25 9. Selling expenses 27 (1,181,128,387,116) (1,446,024,851,216)
337 1. Other long-term liabilities 2,789,924,640 13,989,284,515 26 10. General and administrative expenses 28 (422,014,760,777) (409,162,881,014)
338 2. Long-term loans 21 501,058,615,167 751,915,330,417 30 11. Operating profit 321,734,490,569 498,509,683,549
341 3. Deferred tax liabilities 31.3 529,803,320,719 721,531,903,453
31 12. Other income 29 14,821,218,084 32,302,372,994
342 4. Long-term provisions 29,380,325,846 37,448,717,726
32 13. Other expenses 29 (13,486,354,182) (20,213,663,267)
400 D. OWNERS’ EQUITY 7,113,919,575,033 7,052,727,626,794
410 I. Capital 7,113,919,575,033 7,052,727,626,794 40 14. Other profit 1,334,863,902 12,088,709,727
411 1. Share capital 23.1 2,898,063,160,000 2,797,413,560,000 50 15. Accounting profit before tax 323,069,354,471 510,598,393,276
411a - Shares with voting rights 2,898,063,160,000 2,797,413,560,000 51 16. Current income tax expense 31.1 (364,022,984,594) (145,894,259,653)
412 2. Share premium 23.1 3,157,496,752,530 3,107,169,658,330
52 17. Deferred tax income 31.1 176,137,541,581 9,951,380,672
414 3. Other owners’ capital 23.1 - 104,000,000,000
60 18. Net profit after tax 135,183,911,458 374,655,514,295
415 4. Treasury shares 23.1 (865,273,143,268) (865,273,143,268)
418 5. Investment and development fund 23.1 69,858,995,990 74,811,345,990 19. Net profit after tax attributable to shareholders of
61 23.4 143,181,337,822 362,600,497,164
420 6. Other funds belonging to owners’ equity 23.1 16,135,952,841 15,909,752,661 the parent company
421 7. Undistributed earnings 23.1 1,518,092,985,242 1,619,449,221,639 20. Net profit after tax attributable to non-controlling
62 23.5 (7,997,426,364) 12,055,017,131
421a - Undistributed earnings by the end of prior year 1,374,911,647,420 1,256,848,724,475 interests
421b - Net profit of current year 143,181,337,822 362,600,497,164 70 21. Basic earnings per share 23.4 554 1,357
429 8. Non-controlling interests 23.5 319,544,871,698 199,247,231,442 71 22. Diluted earnings per share 23.4 554 1,357
TOTAL LIABILITIES AND
440 12,391,014,153,489 14,004,792,678,863
OWNERS’ EQUITY
Tran Minh Nguyet Nguyen Thi Oanh Tran Le Nguyen

Preparer Chief Accountant General Director
Preparer Chief Accountant General Director Ho Chi Minh City, Vietnam
29 March 2024
29 March 2024
1 2 3 4 5 134 135
KIDO GROUP
CONSOLIDATED CASH FLOW STATEMENT CONSOLIDATED CASH FLOW STATEMENT (continued)

for the year ended 31 December 2023 B03-DN/HN B03-DN/HN for the year ended 31 December 2023
VND VND
Code ITEMS Notes Current year Previous year Code ITEMS Notes Current year Previous year
I. CASH FLOWS FROM OPERATING ACTIVITIES III. CASH FLOWS FROM FINANCING ACTIVITIES
01 Accounting profit before tax 323,069,354,471 510,598,393,276 31 Issuance of shares 23.1 100,034,380,000 402,382,020,000
Adjustments for: Capital contribution from minority interest 23.5 960,000,000,000 -
02 Depreciation and amortization 246,420,591,720 267,355,732,940 33 Borrowings received 21 12,143,107,928,912 16,019,761,667,948
03 Provisions 708,829,864,874 3,450,071,607 34 Borrowings repaid 21 (13,510,611,446,849) (15,594,131,191,026)
Foreign exchange differences arising from revaluation 36 Dividends paid to shareholders of the parent company 23.3 (20,082,050) (308,926,127,980)
04 (898,244,413) (7,152,841,117)
of monetary accounts denominated in foreign currency
Dividends paid to non-controlling interests (28,844,482,110) (19,699,109,635)
05 Profits from investing activities (1,313,522,667,262) (303,944,432,008)
40 Net cash flows (used in) from financing activities (336,333,702,097) 499,387,259,307
06 Interest expense and allocation of bond issuance cost 26 243,511,936,867 235,491,464,611
50 Net increase (decrease) in cash and cash equivalents 1,083,833,386,822 (180,877,073,821)
08 Operating profit before changes in working capital 207,410,836,257 705,798,389,309
60 Cash and cash equivalents at the beginning of the year 6 1,100,151,822,205 1,281,295,490,335
09 Decrease (increase) in receivables 471,727,949,561 (274,998,829,458)
61 Impact of exchange rate fluctuation 1,037,034,964 (266,594,309)
10 Decrease in inventories 995,027,111,004 281,405,382,510
70 Cash and cash equivalents at the end of the year 6 2,185,022,243,991 1,100,151,822,205
11 Decrease in payables (105,509,668,826) (698,205,865,309)
12 Increase in prepaid expenses (31,318,719,560) (3,128,591,780)
14 Interest paid (256,059,774,212) (226,103,991,145)
15 Corporate income tax paid 19 (378,987,281,960) (148,402,543,007)
17 Other cash outflows for operating activities (64,005,802,671) (16,964,538,784)
20 Net cash flows from (used in) operating activities 838,284,649,593 (380,600,587,664)
II. CASH FLOWS FROM INVESTING ACTIVITIES Preparer Chief Accountant General Director
21 Purchase and construction of fixed assets (114,561,021,014) (258,417,452,181)
22 Proceeds from disposals of fixed assets 2,001,593,988 10,689,257,162 29 March 2024
23 Payments for term bank deposits (3,110,782,949,354) (780,759,945,165)
24 Collections from term bank deposits 1,368,000,000,000 451,200,000,000
25 Payments for investments in other entities (1,213,963,499,261) (267,834,215,020)
26 Proceeds from sale of investments in other entities 3,523,325,291,048 426,878,535,166
27 Dividends and interest received 127,863,023,919 118,580,074,574
30 Net cash flows from (used in) investing activities 581,882,439,326 (299,663,745,464)
1 2 3 4 5 136 137
KIDO GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
as at 31 December 2023 and for the year then ended B09-DN/HN B09-DN/HN as at 31 December 2023 and for the year then ended
1. CORPORATE INFORMATION 1. CORPORATE INFORMATION (CONTINUED)
The Group consists of Kido Group Corporation (“KDC” or “the Company”) and its subsidiaries, associates and Associates and jointly controlled entities
jointly controlled entities as follows:
Owner- Voting
Company Name of entities Business Status ship right
% %
Kido Group Corporation is a shareholding company incorporated under the Law on Enterprise of Vietnam
pursuant to the Business Registration Certificate (“BRC”) No. 4103001184 issued by the Department of Manufacturing and trading all kinds of
In
Kido Frozen JSC (“KDF”) food and drink products such as ice cream, 49.00 49.00
Planning and Investment (“DPI”) of Ho Chi Minh City on 6 September 2002 and the subsequent amended BRCs. operation
milk and other dairy products
The Company’s shares were listed on the Ho Chi Minh Stock Exchange in accordance with the License LG Vina Cosmetics Co. Ltd (“LG Manufacturing and trading cosmetics and In
40.00 40.00
No. 39/UBCK-GPNY issued by the State Securities Commission on 18 November 2005. Vina”) household products operation
Lavenue Investment Corporation In
Operating in the real estate industry 50.00 50.00
The current principal activities of the Group are to wholesale food products; produce and trade all kinds of (“Lavenue”) operation
food and drink products such as ice cream, milk and other dairy products; manufacture, trade and export Dabaco Food Processing JSC Processing and preserving meat and meat In
the products made from oil, vegetable fats, oils from seeds, coconut quartz; and exporting of raw materials 50.00 50.00
(“Dabaco Food”) products operation
for production of vegetable, oil processing industry; and to operate in the real estate industry.
2. BASIS OF PREPARATION
The Company’s registered head office is located at No. 138 - 142 Hai Ba Trung, Da Kao Ward, District 1, Ho
Chi Minh City, Vietnam. 2.1 Applied accounting standards and system
The number of the Group’s employees as at 31 December 2023 was 3,173 (31 December 2022: 3,961). The consolidated financial statements of the Group, expressed in Vietnam Dong (“VND”), are prepared in
accordance with Vietnamese Enterprise Accounting System and Vietnamese Accounting Standards issued
Subsidiaries by the Ministry of Finance as per the:
◊ Decision No. 149/2001/QD-BTC dated 31 December 2001 on the Issuance and Promulgation of Four
Owner- Voting Vietnamese Accounting Standards (Series 1);
Name of subsidiaries Business Status ship right ◊ Decision No. 165/2002/QD-BTC dated 31 December 2002 on the Issuance and Promulgation of Six
% %
Vietnamese Accounting Standards (Series 2);
Vietnam Vegetable Oils Industry Manufacturing and trading In ◊ Decision No. 234/2003/QD-BTC dated 30 December 2003 on the Issuance and Promulgation of Six
87.29 87.29
Corporation (“Vocarimex”) (*) all kinds of vegetable oils operation
Vietnamese Accounting Standards (Series 3);
Tuong An Vegetable Oil JSC Manufacturing and trading, exporting all In ◊ Decision No. 12/2005/QD-BTC dated 15 February 2005 on the Issuance and Promulgation of Six
95.56 98.9
(“TAC”) (*) kinds of vegetable oils and oil seeds operation Vietnamese Accounting Standards (Series 4); and
Kido - Nha Be Manufacturing and trading In ◊ Decision No. 100/2005/QD-BTC dated 28 December 2005 on the Issuance and Promulgation of Four
93.77 100
Co. Ltd (“KNB”) all kinds of vegetable oils and operation Vietnamese Accounting Standards (Series 5).
Kido Foods One Member Co. Ltd Wholesale food products and
Suspended 100 100 Accordingly, the accompanying consolidated financial statements, including their utilization are not
(“KIDOFOOD”) provide other food services
designed for those who are not informed about Vietnam’s accounting principles, procedures and practices
Kido Trading and Services Co. Ltd Wholesale food products and In and furthermore are not intended to present the consolidated financial position and consolidated results
100 100
(“KTS”) provide other food services operation
of operations and consolidated cash flows in accordance with accounting principles and practices generally
Kido Long An Co. Ltd (“KLA”)
Manufacturing and trading Pre-
100 100
accepted in countries other than Vietnam.
food and drink operating
2.2 Applied accounting documentation system
In
Tho Phat Quoc Te JSC (“Tho Phat”) Wholesale food products 68 68
operation The Group’s applied accounting documentation system is the General Journal system.
Tho Phat Food Processing Manufacturing and wholesale
In 2.3 Fiscal year
One Member Co. Ltd (“Tho Phat of products from meat, seafood, 68 68
operation
Food”) vegetables and starch
The Group’s fiscal year applicable for the preparation of its consolidated financial statements starts on 1
January and ends on 31 December.
(*) The Group used 92,118,000 shares of Vocarimex and 17,000,000 shares of TAC to place as collateral for
its domestic straight bonds. Details of such bonds are presented at Note 21.2. 2.4 Accounting currency
The consolidated financial statements are prepared in VND which is also the Group’s accounting currency.
1 2 3 4 5 138 139
KIDO GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. BASIS OF PREPARATION (CONTINUED) 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2.5 Basis of consolidation 3.3 Inventories (continued)
The Group’s consolidated financial statements comprise the financial statements of the parent company
Provision for obsolete inventories
and the financial statements of its subsidiaries for the year ended 31 December 2023.
An inventory provision is created for the estimated loss arising due to the impairment (through diminution,
Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains
damage, obsolescence, etc.) of raw materials, finished goods, and other inventories owned by the Group,
control, and continues to be consolidated until the date that such control ceases.
based on appropriate evidence of impairment available at the consolidated balance sheet date.
The financial statements of the subsidiaries are prepared for the same reporting year as the parent
Increases and decreases to the provision balance are recorded into the cost of goods sold account in the
company, using consistent accounting policies.
consolidated income statement. When inventories are expired, obsolescence, damage or become useless,
All intra-company balances, income and expenses and unrealized gains or losses result from intra-company the difference between the provision previously made and the historical cost of inventories are included in
transactions are eliminated in full. the consolidated income statement.
Non-controlling interests represent the portion of profit or loss and net assets not held by the Group and 3.4 Tangible fixed assets
are presented separately in the consolidated income statement and within equity in the consolidated
Tangible fixed assets are stated at cost less accumulated depreciation.
balance sheet, separately from parent shareholders’ equity.
The cost of a tangible fixed asset comprises its purchase price and any directly attributable costs of
Impact of change in the ownership interest of a subsidiary, without a loss of control, is recorded to the
bringing the tangible fixed asset to working condition for its intended use.
account of undistributed earnings.
Expenditures for additions, improvements and renewals are added to the carrying amount of the assets
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES and expenditures for maintenance and repairs are charged to the consolidated income statement as
incurred.
3.1 Cash and cash equivalents
When tangible fixed assets are sold or retired, any gain or loss resulting from their disposal (the difference
Cash and cash equivalents comprise cash on hand, cash in banks and short-term, highly liquid investments
between the net disposal proceeds and the carrying amount) is included in the consolidated income
with an original maturity of less than three months that are readily convertible into known amounts of
statement.
cash and that are subject to an insignificant risk of change in value.
3.2 Receivables 3.5 Intangible assets
Receivables are presented in the consolidated financial statements at the carrying amounts due from Intangible assets are stated at cost less accumulated amortization.
customers and other debtors, after provision for doubtful receivables.
The cost of an intangible asset comprises its purchase price and any directly attributable costs of preparing
The provision for doubtful receivables represents amounts of outstanding receivables at the consolidated
the intangible asset for its intended use.
balance sheet date which are doubtful of being recovered. Increases and decreases to the provision balance
are recorded into general and administration expense account in the consolidated income statement. When Expenditures for additions, improvements are added to the carrying amount of the assets and other
bad debts are determined as unrecoverable and accountant writes off those bad debts, the differences expenditures are charged to the consolidated income statement as incurred.
between the provision for doubtful receivables previously made and historical cost of receivables are
included in the consolidated income statement. When intangible assets are sold or retired, any gain or loss resulting from their disposal (the difference
between the net disposal proceeds and the carrying amount) is included in the consolidated income
3.3 Inventories statement.
Inventories are measured at their historical costs. The cost of inventories comprises costs of purchase,
costs of conversion (including raw materials, direct labor cost, other directly related cost, manufacturing Land use rights
general overheads allocated based on the normal operating capacity) incurred in bringing the inventories Land use rights are recorded as intangible assets representing the value of the right to use the lands
to their present location and condition. acquired or leased by the Group. The useful lives of land use rights are assessed as either finite or indefinite.
In case the net realizable value is lower than the original price, it must be calculated according to the Accordingly, land use rights with finite lives representing the land lease are amortized over the term of
net realizable value. Net realizable value represents the estimated selling price in the ordinary course of lease while the land use rights with indefinite useful lives are not amortized.
business less the estimated costs to complete and the estimated costs necessary to make the sale.
The advance payment for land rental, of which the land lease contracts have effectiveness prior to
The perpetual method is used to record inventories, which are valued as follows: 2003 and land use right certificate being issued, are recorded as intangible asset according to Circular
No. 45/2013/TT-BTC issued by the Ministry of Finance on 25 April 2013 guiding the management, use and
Raw materials, consumables and merchandise • cost of purchase on a weighted average basis. depreciation of fixed assets (“Circular 45”).
Finished goods and work in process • cost of finished goods, semi products on a weighted
average basis.
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KIDO GROUP
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.6 Depreciation and amortization 3.9 Borrowing costs
Depreciation of tangible fixed assets and amortization of intangible assets are calculated on a straight- Borrowing costs consist of interest and other costs that the Corporation incurs in connection with the
line basis over the estimated useful life of each asset as follows: borrowing of the fund and are recorded as expense during the period in which they are incurred except to
the extent that they are capitalized as explained in the following paragraph.
Buildings and structures 3 - 50 years
Borrowing costs that are directly attributable to the acquisition, construction or production of an asset
Machinery and equipment 5 - 25 years that necessarily take a substantial period of time to get ready for its intended use or sale are capitalized
Means of transportation 6 - 10 years as part of the cost of the respective asset.
Office equipment 3 - 5 years 3.10 Prepaid expenses
Brand name 10 - 20 years
Prepaid expenses are reported as short-term or long-term prepaid expenses on the consolidated balance
Land use rights 10 - 46 years sheet and amortized over the period for which the amounts are paid or the period in which economic
Computer software 3 - 20 years benefits are generated in relation to these expenses.
Customer relationship 16 - 20 years
Prepaid land rental
Land lease advantage 8 - 32 years
Prepaid land rental represents the unamortized balances of advanced payments made in accordance with
3.7 Investment properties lease contract for a period from 30 to 45 years. Such prepaid rental is recognized as a long-term prepaid
expense for allocation to the consolidated income statement over the remaining lease period according
Investment properties are stated at cost including transaction costs less accumulated depreciation and/ to Circular 45.
or amortization.
3.11 Business combination and goodwill
Subsequent expenditure relating to an investment property that has already been recognized is added
to the net book value of the investment property when it is probable that future economic benefits, in Business combinations are accounted for using the purchase method. The cost of an acquisition
excess of the originally assessed standard of performance of the existing investment property, will flow is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or
to the Group. assumed at the date of exchange, plus costs directly attributable to the acquisition. Identifiable assets
acquired and liabilities and contingent liabilities assumed in a business combination are measured initially
Depreciation and amortization of investment properties are calculated on a straight-line basis over the at fair values at the date of business combination.
estimated useful life of each asset as follows:
Goodwill is initially measured at cost being the excess of the cost of the business combination over the
Buildings and structures 16 years Group’s share in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities. If
the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference
Investment properties are derecognized when either they have been disposed of or when the investment is recognized directly in the consolidated income statement. After initial recognition, goodwill is measured
properties are permanently withdrawn from use and no future economic benefit is expected from its disposal. at cost less accumulated amortization. Amortization of goodwill is calculated on a straight-line basis over
ten (10) years during which the source embodying economic benefits are recovered by the Group. The
Transfers are made to investment properties when, and only when, there is a change in use, evidenced parent company conducts the periodical review for impairment of goodwill of investment in subsidiaries.
by ending of owner-occupation, commencement of an operating lease to another party or ending of If there are indicators of impairment loss incurred is higher than the yearly allocated amount of goodwill
construction or development. Transfers are made from investment properties when, and only when, there on the straight-line basis, the higher amount will be recorded in the consolidated income statement.
is change in use, evidenced by commencement of owner-occupation or commencement of development
with a view to sale. The transfer from investment property to owner-occupied property or inventories
does not change the cost or the carrying value of the property for subsequent accounting at the date of
change in use.
3.8 Construction in progress
Construction in progress represents tangible fixed assets under construction and is stated at cost. This
includes costs of construction of plant, installation of equipment and other direct costs. Construction in
progress is not depreciated until such time as the relevant assets are completed and put into use.
1 2 3 4 5 142 143
KIDO GROUP
3.12 Investments 3.12 Investments (continued)
Investments in associates Provision for diminution in value of investments
The Group’s investment in its associates is accounted for using the equity method of accounting. An Provision of the investment is made when there are reliable evidences of the diminution in value of those
associate is an entity in which the Group has significant influence and which is neither a subsidiary nor a investments at the balance sheet date.
joint venture. The Group generally deems they have significant influence if they have at least 20% of the
voting rights. Increases and decreases to the provision balance are recorded into finance expense account in the
consolidated income statement.
Under the equity method, the investment is carried in the consolidated balance sheet at cost plus post
acquisition changes in the Group’s share of net assets of the associates. Goodwill arising on acquisition Held-to-maturity investments
of the associate is included in the carrying amount of the investment. Goodwill is not amortized and
subject to annual review for impairment. The consolidated income statement reflects the share of the Held-to-maturity investments are stated at their acquisition costs. After initial recognition, held-to-
post-acquisition results of operation of the associate. maturity investments are measured at recoverable amount. Any impairment loss incurred is recognized
as expense in the consolidated financial statements and deducted against the value of such investments.
The share of post-acquisition profit (loss) of the associates is presented on the face of the consolidated
income statement and its share of post-acquisition movements in reserves is recognized in reserves. The
3.13 Payables and accruals
cumulative post-acquisition movements are adjusted against the carrying amount of the investment.
Dividend or profit sharing received or receivable from associates reduce the carrying amount of the Payables and accruals are recognized for amounts to be paid in the future for goods and services received,
investment. whether or not billed to the Group.
The financial statements of the associates are prepared for the same reporting period and use the same
accounting policies as the Group. Where necessary, adjustments are made to bring the accounting policies 3.14 Accrual for severance pay
in line with those of the Group.
The severance pay to employee is accrued at the end of each reporting year for employees who have been
The Group’s investment in jointly controlled entity is accounted for using the equity method of accounting. worked for more than 12 months at Corporation. The accrued amount is calculated at the rate of one-half
Under the equity method, the investment is carried in the consolidated balance sheet at cost plus post of the average monthly salary for each year of service qualified for severance pay in accordance with the
joint venture changes in the Group’s share of net assets of the jointly controlled entity. The consolidated Labour Code and related implementing guidance. The average monthly salary used in this calculation is
income statement reflects the share of the post-acquisition results of operation of the jointly controlled adjusted at the end of each reporting period following the average monthly salary of the last 6-month
entity. period up to the reporting date. Increases or decreases to the accrued amount other than actual payment
to employee will be taken to the consolidated income statement.
The share of profit (loss) of the post-acquisition /post-establishment results of operation of the
jointly controlled entities is presented on face of the consolidated income statement and its share of This accrued severance pay is used to settle the termination allowance to be paid to employee upon
post-acquisition/post-establishment movements in reserves is recognized in reserves. The cumulative termination of their labor contracts following Article 46 of the Labor Code.
post-acquisition movements are adjusted against the carrying amount of the investment. Dividend or
profit sharing received or receivable from jointly controlled entity reduces the carrying amount of the 3.15 Provision
investment.
Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of
The financial statements of the jointly controlled entities are prepared for the same reporting period a past event, it is probable that an outflow of resources embodying economic benefits will be required to
and use the same accounting policies as the Group. Where necessary, adjustments are made to bring the settle the obligation and a reliable estimate can be made of the amount of the obligation.
accounting policies in line with those of the Group.
Held-for-trading securities and investment in another entity
Held-for-trading securities and investment in another entity are stated at their acquisition costs.
1 2 3 4 5 144 145
KIDO GROUP
3.16 Foreign currency transactions 3.20 Appropriation of net profit (continued)

Transactions in currencies other than the Group’s reporting currency of VND are recorded at the actual The Group maintains the following reserve funds which are appropriated from its net profit after tax
transaction exchange rates at transaction dates which are determined as follows: as proposed by the Board of Directors and subject to approval by shareholders at the Annual General
Meeting:
◊ Transactions resulting in receivables are recorded at the buying exchange rates of the commercial
banks designated for collection; and Investment and development fund
◊ Transactions resulting in liabilities are recorded at the selling exchange rates of the commercial banks This fund is set aside for use in the Group’s expansion of its operations or in-depth investments.
designated for payment.
Bonus and welfare fund
At the end of the year, monetary balances denominated in foreign currencies are translated at the actual
transaction exchange rates at the balance sheet date which are determined as follows: This fund is set aside for the purpose of pecuniary rewarding and encouragement, common benefits and
improvement of the employees’ benefits, and presented as a liability on the consolidated balance sheet.
◊ Monetary assets are translated at buying exchange rate of the commercial bank where the Group
conducts transactions regularly; and Dividends
◊ Monetary liabilities are translated at selling exchange rate of the commercial bank where the Group Dividends proposed by the Board of Directors are classified as a separate allocation of undistributed
conducts transactions regularly. earnings within the equity section of the consolidated balance sheet, until they have been approved by
the shareholders at the Annual General Meeting and the authority. Then, they are recognized as a liability
All foreign exchange differences are taken to the consolidated income statement. in the consolidated balance sheet.
3.17 Treasury shares 3.21 Revenue recognition
Own equity instruments which are reacquired by the Group (treasury shares) are recognized at cost Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Group
and deducted from equity. No gain or loss is recognized in profit or loss upon purchase, sale, re-issue or and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration
cancellation of the Group’s own equity instruments. received or receivable, excluding trade discount, rebate and sales return. The following specific recognition
criteria must also be met before revenue is recognized:
3.18 Earnings per share
Sale of goods
Basic earnings per share is computed by dividing net profit after tax for the year attributable to ordinary
shareholders (after adjusting for the bonus and welfare fund) by the weighted average number of ordinary Revenue is recognized when the significant risks and rewards of ownership of the goods have passed to
shares outstanding during the year. the buyer, usually upon the delivery of the goods.
Diluted earnings per share amounts are calculated by dividing the net profit after tax attributable to Rendering of services
ordinary equity holders of the Group by the weighted average number of ordinary shares outstanding
during the year plus the weighted average number of ordinary shares that would be issued on conversion Where the contract outcome can be reliably measured, revenue is recognised by reference to the stage of
of all the potential dilutive ordinary shares into ordinary shares. completion.
3.19 Segment information Interest
A segment is a component determined separately by the Group which is engaged in providing products Revenue is recognized as the interest accrues (taking into account the effective yield on the asset) unless
or related services (business segment) or providing products or services in a particular economic collectability is in doubt.
environment (geographical segment), that is subject to risks and returns that are different from those of
Dividends
other segments.
Income is recognized when the Group’s entitlement as an investor to receive dividends is established.
3.20 Appropriation of net profit
3.22 Taxation
Net profit after tax is available for appropriation to shareholders after approval in the shareholders’
meeting, and after making appropriation to the reserve funds in accordance with the Company’s charter Current income tax
and Vietnamese regulatory requirements.
Current income tax assets and liabilities for current and prior years are measured at the amount expected
to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the
amount are those that are enacted as at the balance sheet date.
1 2 3 4 5 146 147
KIDO GROUP
3.22 Taxation (continued) 3.22 Taxation (continued)
Current income tax (continued) Deferred tax (continued)
Current income tax is charged or credited to the consolidated income statement, except when it relates to Deferred tax assets and liabilities are offset when there is a legally enforceable right for the Group to set off
items recognized directly to equity, in which case it is also dealt with in the equity account. current tax assets against current tax liabilities and when they relate to income taxes levied by the same
taxation authority on either the same taxable entity or when the Group intends to either settle current
Current income tax assets and liabilities are offset when there is a legally enforceable right for the Group tax liabilities and assets on a net basis or to realize the assets and settle the liabilities simultaneously,
to set off current tax assets against current tax liabilities and when the Group intends to settle its current in each future year in which significant amounts of deferred tax liabilities or assets are expected to be
tax assets and liabilities on a net basis. settled or recovered.
Deferred tax 3.23 Related parties
Deferred tax is provided using the liability method on temporary differences at the balance sheet date Parties are considered to be related parties of the Group if one party has the ability to, directly or
between the tax base of assets and liabilities and their carrying amount for financial reporting purpose. indirectly, control the other party or exercise significant influence over the other party in making financial
and operating decisions, or when the Group and other party are under common control or under common
Deferred tax liabilities are recognized for all taxable temporary differences, except:
significant influence. Related parties can be enterprises or individuals, including close members of their
◊ where deferred tax liability arises from the initial recognition of an asset or liability in a transaction which families.
at the time of the transaction affects neither the accounting profit nor taxable profit or loss; and
4. SIGNIFICANT EVENTS
◊ in respect of taxable temporary differences associated with investments in subsidiaries and associates,
and interests in joint ventures where timing of the reversal of the temporary difference can be controlled 4.1 Transfer shares in Kido Frozen JSC (“KDF”)
and it is probable that the temporary difference will not reverse in the foreseeable future.
During the year, non-controlling shareholders of KDF completed capital contribution for additional 20,000,000
Deferred tax assets are recognized for all deductible temporary differences, carried forward unused tax share issuances according with KDF Resolution of General Meeting of Shareholders No.KDF01/2022/
credit and unused tax losses, to the extent that it is probable that taxable profits will be available against NQ-DHDCD dated 30 September 2022. In addition, on 26 April 2023, the Company completed the transfer
which deductible temporary differences, carried forward unused tax credit and unused tax losses can be of 17,821,600 shares, equivalent to 24.03% of KDF’s share capital, with the total transfer value of VND’000
utilized, except: 1,069,296,000 under the transfer contract No. 01/2023/HD dated 24 April 2023 and Board of Directors
(“BOD”) Resolution No. KDC01/2023/NQ-HĐQT dated 17 January 2023. Accordingly, the Group’s ownership in
◊ where deferred tax asset in respect of deductible temporary difference which arises from the initial
KDF was decreased from 73.04% to 49% and KDF became an associate (Note 15.2) from that date.
recognition of an asset or liability which at the time of the related transaction, affects neither the
accounting profit nor taxable profit or loss; and As at that date, the impact of other owners’ capital and fund related to equity transactions in KDF from
previous year’s amounting to VND’000 101,322,415 (Note 23.1) and change in equity of associate from that
◊ in respect of deductible temporary differences associated with investments in subsidiaries and
date amounting to VND’000 71,039,396 (Note 23.1) have been recognized as an increase on undistributed
associates, and interests in joint ventures, deferred tax assets are recognized only to the extent that
earnings in the consolidated balance sheet. Besides that, the Group recorded gain from this transfer with
it is probable that the temporary difference will reverse in the foreseeable future and taxable profits
an amount of VND’000 1,053,069,594 (Note 24.2) in the consolidated income statement, and included
will be available against which the temporary differences can be utilized.
this amount was the loss had been deducted in undistributed earnings of the previous year’s relating
The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the to the equity transactions with non-controlling interests without losing control aggregating to VND’000
extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of 132,406,132 (Note 23.1).
deferred tax asset to be utilized. Previously unrecognized deferred tax assets are re-assessed at each
4.2 Transfer all of shares in Cai Lan Vegetable Oil Co. Ltd (‘‘Calofic”)
balance sheet date and are recognized to the extent that it has become probable that future taxable
profit will allow the deferred tax assets to be recovered. On 14 March 2023, the Group completed the transfer of all 24% equity in Calofic at a transfer price of
VND’000 2,157,837,500 in accordance with Board Resolution No. 15/NQ-HĐQT 14 November 2022.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year
Accordingly, the Group recorded gain from this transfer with an amount of VND’000 76,114,728 (Note 24.2)
when the asset is realized or the liability is settled based on tax rates and tax laws that have been enacted
in the consolidated income statement.
at the balance sheet date.
4.3 Acquire more shares in Tuong An Vegetable Oil JSC (‘‘TAC”)
Deferred tax is charged or credited to the consolidated income statement, except when it relates to items
recognized directly to equity, in which case it is also dealt with in the equity account. In 2023, the Group acquired additional 48,736 shares in TAC from non-controlling shareholders. Accordingly,
the Group’s ownership rate in TAC increased from 95.41% to 95.56%. The difference between the cost of
additional investment and the carrying amount corresponding to the Group’s net asset value in TAC at
the transaction date of VND’000 2,928,991 (Note 23.1) has been recognized as a decrease in the retained
earnings in the consolidated balance sheet.
1 2 3 4 5 148 149
KIDO GROUP
4. SIGNIFICANT EVENTS (CONTINUED) 5. GOODWILL
4.4 Dissolution of Vibev Food and Beverage Joint Venture Co. Ltd (“Vibev”) Goodwill is amortized on a straight line basis over ten (10) years from acquisition date. Details were as
follows:
Vibev has completed procedures to dissolve the Company’s operations according to Notice No. 663668/23
dated 28 August 2023 of the DPI of Ho Chi Minh City.
VND
4.5 Acquisition of Tho Phat Quoc Te Joint Stock Company (“Tho Phat”) Cost
Beginning balance 307,721,691,442
On 22 August 2023, the Group completed the purchase of 29,835,000 shares, equivalent to 51% of Tho
Acquisition of a subsidiary (Note 4.5) 515,066,984,511
Phat’s share capital, with a purchase price of VND’000 807,500,000 according to transfer contract
No. 01/2023/HDCN/VDAM-KDC dated 21 August 2023 and No. 02/2023/HDCN/VDAM-KDC dated 22 August Ending balance 822,788,675,953
2023 and Resolution No. KDC07/2023/NQ-HĐQ dated 19 April 2023. Accordingly, Tho Phat became a Accumulated amortization
subsidiary of the Group at this date. The temporary provisional fair values of the identifiable assets and
liabilities of Tho Phat as at the date of the business combination is presented as follows: Beginning balance 164,091,570,711
Amortization for the year 47,867,692,137
Provisional fair value temporarily Ending balance 211,959,262,848
recognized on acquisition
VND Net carrying amount
Assets Beginning balance 143,630,120,731
Cash and cash equivalents 81,003,803,319 Ending balance 610,829,413,105
Short-term trade receivables 89,101,845,197 6. CASH AND CASH EQUIVALENTS

Short-term advance to suppliers 211,802,240
Inventories 28,336,448,235
VND
Other short-term receivables 101,443,722,385 Ending balance Beginning balance
Other current assets 1,540,437,253 Cash on hand 866,527,030 545,498,096
Property, plant and equipment 469,421,773,171 Cash in banks 1,251,951,949,535 1,047,582,432,857
Other long-term assets 80,998,677,263 Cash equivalents 932,203,767,426 52,023,891,252
852,058,509,063 TOTAL 2,185,022,243,991 1,100,151,822,205
Liabilities Cash equivalents represented term deposits at the commercial banks with the original maturity of less
Trade payables 248,151,745,569 than three (3) months and earned the interest at the rates ranging from 3.4% to 3.5% per annum.
Non-current liabilities 6,516,223,320
254,667,968,889
Total net assets 597,390,540,174
Total net assets acquired, 51% 304,669,175,489
Goodwill arising on acquisition (Note 5) 515,066,984,511
Consideration 819,736,160,000
In addition, on 10 October 2023, the Company completed the purchase of additional 6,435,000 shares,
equivalent to 17% of Tho Phat›s equity capital, with a purchase price of VND’000 340,000,000 according
to contract No. 03/2023/HDCN/VDAM-KDC dated 6 October 2023 and No. 04/03/2023/HDCN/VDAM-KDC
dated 10 October 2023. Accordingly, the Group›s ownership in Tho Phat increased from 51% to 68% at this
date. The difference between the cost of additional investment and the carrying amount corresponding to
the Group›s net asset value in Tho Phat at the transaction date of VND’000 237,012,316 (Note 23.1) has been
recognized as a decrease in the retained earnings in the consolidated balance sheet.
1 2 3 4 5 150 151
KIDO GROUP
7. CURRENT ACCOUNTS RECEIVABLE 8. INVENTORIES

VND VND
Ending balance Beginning balance Ending balance Beginning balance
Short-term trade receivables 378,744,521,321 509,552,788,711 Raw materials 497,139,840,800 855,876,577,318
In which: Work in process 266,868,593,666 356,010,656,020
- Due from related parties (Note 32) 9,472,063,742 1,082,220,190
Finished goods 236,484,957,974 440,956,105,153
- Due from third parties 369,272,457,579 508,470,568,521
Short-term advances to suppliers 269,432,984,408 437,926,095,522 Goods in transit 29,454,991,731 97,910,087,067
In which: Merchandise goods 29,130,650,360 425,573,680,734
- Youth Future Investment Trading JSC 150,000,000,000 300,000,000,000 Tools and supplies 18,072,246,827 42,272,152,682
- Home & Land Communication Co. Ltd 61,714,876,222 61,714,876,222
TOTAL 1,077,151,281,358 2,218,599,258,974
- Long An Industrial Park JSC 42,266,294,181 42,266,294,181
Provision for obsolete inventories (4,871,200,830) (6,293,397,778)
- Due from other third parties 15,451,814,005 33,944,925,119
Short-term loan receivables (i) 740,000,000,000 258,000,000,000 NET 1,072,280,080,528 2,212,305,861,196
In which:
9. PREPAID EXPENSES
- Due from related parties (Note 32) 150,000,000,000 258,000,000,000
VND
- ATO Investment JSC 330,000,000,000 -
- ATO Investment JSC 260,000,000,000 - Ending balance Beginning balance
Other short-term receivables 1,577,189,932,891 1,743,447,255,952 Short-term 16,314,483,828 23,673,597,175
In which: Tools and equipment 5,275,055,827 6,464,790,418
- Advance for investments (ii) 1,443,307,000,000 1,393,307,000,000 Insurance fees 2,671,911,230 3,594,309,762
- Interest receivable 57,202,875,661 20,318,342,135
Rental fees 2,371,165,862 2,324,311,190
- Receivables from disposal of an investment - 122,000,000,000
- Others 76,680,057,230 207,821,913,817 Maintenance expenses 1,364,855,321 1,509,937,848
In which: Others 4,631,495,588 9,780,247,957
Due from related parties (Note 32) 16,362,424,649 115,276,913,947 Long-term 98,824,887,542 78,819,525,112
Due from third parties 1,560,827,508,242 1,628,170,342,005
Prepaid land rental 72,673,510,234 62,061,096,561
Shortage of assets waiting for resolution - 652,705,599
Tools and equipment 19,774,286,099 8,940,721,673
Provision for doubtful short-term receivables (7,943,592,244) (839,058,965)
NET 2,957,423,846,376 2,948,739,786,819 Others 6,377,091,209 7,817,706,878
TOTAL 115,139,371,370 102,493,122,287
(i) That amount represented unsecured lending, mature of 3 months, and earn interest at applicable
market rate from 7.5% to 9% per annum. 10. LONG-TERM RECEIVABLES
(ii) This ending balance mainly represented the advances made to Asia Investment Co. Ltd and an individual VND
for the acquisition of the targeted shares. Ending balance Beginning balance
Details of movement of provision for doubtful short-term receivables: Long-term advance to supplier
VND Advance for office rental to Hoang Trieu Co., Ltd. 9,661,149,878 10,843,153,926
Ending balance Beginning balance Long-term loan receivables from a related party (Note 32) - 30,000,000,000
Beginning balance 839,058,965 2,039,058,965 Other long-term receivables
Add: Provision made during the year 7,104,533,279 - Long-term deposits 6,942,086,196 1,865,135,000
Less: Reversal of provision during the year - (1,200,000,000) Interest receivables 4,945,305,683 -
Ending balance 7,943,592,244 839,058,965 TOTAL 21,548,541,757 42,708,288,926
1 2 3 4 5 152 153
KIDO GROUP
11. TANGIBLE FIXED ASSETS

VND
Buildings Machinery Means of Office
and structures and equipment transportation equipment Total
Cost
Beginning balance 874,782,318,797 1,548,567,018,980 105,967,410,761 50,220,259,684 2,579,537,008,222
New purchased 487,476,000 16,041,235,161 12,243,299,364 191,195,000 28,963,205,525
Increase due to acquisition of a subsidiary 346,322,784,168 93,398,922,157 14,888,525,671 42,755,018,271 497,365,250,267
Transfer from construction in progress 27,045,994,333 59,496,059,500 - 2,224,562,000 88,766,615,833
Disposal of a subsidiary (299,404,488,352) (676,297,672,016) (19,520,718,376) (13,514,071,007) (1,008,736,949,751)
Disposal during the year (5,825,847,729) (4,139,064,576) - (248,978,111) (10,213,890,416)
Ending balance 943,408,237,217 1,037,066,499,206 113,578,517,420 81,627,985,837 2,175,681,239,680
In which:
Fully depreciated 194,728,136,998 462,768,497,162 34,254,912,859 25,684,300,256 717,435,847,275
Accumulated depreciation
Beginning balance 404,296,380,160 1,138,014,348,801 64,923,270,588 43,009,850,072 1,650,243,849,621
Depreciation for the year 54,026,401,047 28,978,548,051 7,113,526,707 3,818,834,490 93,937,310,295
Increase due to acquisition of a subsidiary 3,481,627,048 15,668,608,508 7,309,253,946 1,483,987,594 27,943,477,096
Disposal of a subsidiary (124,685,231,212) (431,256,868,377) (13,828,066,114) (13,066,720,235) (582,836,885,938)
Disposal during the year (4,285,097,636) (3,904,844,231) - (109,830,125) (8,299,771,992)
Ending balance 332,834,079,407 747,499,792,752 65,517,985,127 35,136,121,796 1,180,987,979,082
Net carrying amount
Beginning Balance 470,485,938,637 410,552,670,179 41,044,140,173 7,210,409,612 929,293,158,601
Ending balance 610,574,157,810 289,566,706,454 48,060,532,293 46,491,864,041 994,693,260,598
12. INTANGIBLE ASSETS

VND
Brand name Land use rights Computer software Land lease advantage Customer relationship Total
Cost
Beginning balance 517,957,052,107 833,705,110,032 86,877,374,135 462,765,852,930 445,566,324,831 2,346,871,714,035
Newly purchased - - 89,320,000 - - 89,320,000
Disposal of a subsidiary (16,591,966,348) - (19,753,070,192) - (22,587,790,774) (58,932,827,314)
Ending balance 501,365,085,759 833,705,110,032 67,213,623,943 462,765,852,930 422,978,534,057 2,288,028,206,721
In which:
Fully amortized - 3,409,939,531 42,726,926,466 - - 46,136,865,997
Accumulated amortization
Beginning balance 166,362,813,267 164,731,129,012 61,160,993,852 116,141,557,974 139,813,888,854 648,210,382,959
Amortization for the year 25,068,254,288 28,639,955,784 5,319,539,588 21,993,243,159 21,619,505,678 102,640,498,497
Disposal of a subsidiary (16,591,966,348) - (16,306,257,005) - (17,411,422,054) (50,309,645,407)
Ending balance 174,839,101,207 193,371,084,796 50,174,276,435 138,134,801,133 144,021,972,478 700,541,236,049
Net carrying amount
Beginning balance 351,594,238,840 668,973,981,020 25,716,380,283 346,624,294,956 305,752,435,977 1,698,661,331,076
Ending balance 326,525,984,552 640,334,025,236 17,039,347,508 324,631,051,797 278,956,561,579 1,587,486,970,672
1 2 3 4 5 154 155
KIDO GROUP
13. INVESTMENT PROPERTIES 15. INVESTMENTS
VND 15.1 Held-to-maturity investments
Buildings and structures

Ending balance Beginning balance
Cost Number Amount Number Amount
VND VND
Beginning and ending balances 11,797,057,729
Short-term 618,377,661,697 522,372,164,343
Accumulated depreciation
Bond Certificate of
583,700 583,700,000,000 490,000 490,000,000,000
Rong Viet Securities JSC
Vietnam Export Import Commercial Joint
Depreciation for the year 192,381,132 34,677,661,697 32,372,164,343
Stock Bank
Ending balance 7,580,897,679 Long-term 101,147,452,000 6,370,000,000
Net carrying amount Bangkok Bank Public

94,777,452,000 -
Co. Ltd
Bond Certificates of Bank for Investment
6,370,000,000 6,370,000,000
Ending balance 4,216,160,050 and Development of Vietnam (“BIDV”)
TOTAL 719,525,113,697 528,742,164,343

The fair value of investment properties had not yet been formally assessed and determined as at 31
December 2023. However, the management’s assessment is that the fair value of these investment
properties are higher than their carrying value at balance sheet date.
14. CONSTRUCTION IN PROGRESS
VND
Installation and renovation of machinery 4,196,600,170 65,312,014,241
Others 705,016,360 9,647,338,940
TOTAL 4,901,616,530 74,959,353,181

1 2 3 4 5 156 157
KIDO GROUP
15. INVESTMENTS (CONTINUED)
15.2 Investments in associates and jointly controlled entities

Name of associates and
jointly controlled entities Interest Carrying value Provision Fair value Interest Carrying value Provision Fair value
% VND VND VND % VND VND VND
Lavenue (*) 50.00 1,069,509,263,273 753,660,362,154 315,848,901,119 50.00 1,069,509,263,273 - 1,069,509,263,273
KDF (Note 4.1) 49.00 945,613,509,776 - 945,613,509,776 - - - -
LG Vina 40.00 585,227,826,992 - 585,227,826,992 40.00 577,550,285,739 - 577,550,285,739
Dabaco Food 50.00 94,860,862,052 - 94,860,862,052 50.00 100,094,843,195 - 100,094,843,195
Calofic (Note 4.2) - - - - 24.00 2,081,722,772,126 - 2,081,722,772,126
Vibev (Note 4.4) - - - - 49.00 140,211,267,314 - 140,211,267,314
TOTAL 2,695,211,462,093 753,660,362,154 1,941,551,099,939 3,969,088,431,647 - 3,969,088,431,647
(*) Lavenue is a shareholding company incorporated under the Law on Enterprise of Vietnam pursuant The People’s Court of Ho Chi Minh City issued the court’s first-instance judgment No.400/2020/HS-ST on 20
to the BRC No. 0310306044 issued by the DPI of Ho Chi Minh City on 10 September 2010. Its principal September 2020 and the High People’s Court of Ho Chi Minh City issued the court’s appellate judgment No.452/2021/
activities are to operate in the real estate industry. Lavenue’s registered head office is located at HSPT on 2 December 2021 in term of the violation in managing decision, using State’s assets causing losses relating
No. 12 Le Thanh Ton, District 1, Ho Chi Minh City. Lavenue is the owner of Lavenue Crown Project to the Project.
(“Project”) located at No. 8 - 12 Le Duan Street, District 1, Ho Chi Minh City, Vietnam.
As at 31 December 2023, the Company’s Board of Directors made a provision for the investment based on the
Since 2018, the implementation of the Project has been under inspection by the relevant authorities. recoverable value of this investment.
1 2 3 4 5 158 159
KIDO GROUP
15. INVESTMENTS (CONTINUED)
15.2 Investments in associates and jointly controlled entities (continued)
Details of the carrying values of these investments in associates and jointly controlled entities as at 31
December 2023 were as follows:
VND
KDF Calofic Vibev
Lavenue (Note 4.1) LG Vina Dabaco Food (Note 4.2) (Note 4.4) Total
Cost of investment
Beginning balances 1,087,500,000,000 - 548,458,021,068 116,000,000,000 1,383,942,384,943 196,000,000,000 3,331,900,406,011
Increase in year - 872,765,024,433 - - - 872,765,024,433
Decrease in year - - - - (1,383,942,384,943) (196,000,000,000) (1,579,942,384,943)
Ending balances 1,087,500,000,000 872,765,024,433 548,458,021,068 116,000,000,000 - - 2,624,723,045,501
Accumulated share in post-acquisition profit (loss) of the associates
and jointly controlled entities
Beginning balance (17,990,736,727) - 29,092,264,671 (15,905,156,805) 697,780,387,183 (55,788,732,686) 637,188,025,636
Decrease in year - - - - (697,780,387,183) 55,788,732,686 (641,991,654,497)
Provision for investment diminution (753,660,362,154) - - - - - (753,660,362,154)
Share in post-acquisition profit (loss) for the year - 72,848,485,343 7,677,541,253 (5,233,981,143) - - 75,292,045,453
Ending balance (771,651,098,881) 72,848,485,343 36,769,805,924 (21,139,137,948) - - (683,171,945,562)
Carrying amount
Beginning balance 1,069,509,263,273 - 577,550,285,739 100,094,843,195 2,081,722,772,126 140,211,267,314 3,969,088,431,647
Ending balance 315,848,901,119 945,613,509,776 585,227,826,992 94,860,862,052 - - 1,941,551,099,939
16. SHORT-TERM TRADE PAYABLES 18. SHORT-TERM ACCRUED EXPENSES

VND VND
Due to related parties (Note 32) 70,170,083,252 1,510,446,175 Marketing expenses 106,628,474,982 131,122,148,599
Due to third parties 356,023,790,622 547,438,367,513 Trade discount 56,204,797,615 77,842,501,222
- Apical Vietnam Oils and Fats Pte. Ltd 98,507,957,367 179,252,660,916 13 month salary and bonus
th
43,746,659,268 16,346,904,696
- Others 257,515,833,255 368,185,706,597 Interest expense 35,997,859,778 51,093,697,119
TOTAL 426,193,873,874 548,948,813,688 Transportation fee 16,728,992,017 22,407,999,903
Sales incentive 13,795,166,809 28,390,690,453
17. SHORT-TERM ADVANCE FROM CUSTOMERS
VND Others 14,729,956,196 15,400,917,028
TOTAL 287,831,906,665 342,604,859,020
Due to third parties 87,223,572,571 25,435,506,047
1 2 3 4 5 160 161
KIDO GROUP
19. TAX AND OTHER (RECEIVABLES) PAYABLES FROM THE STATE

VND
Beginning Increase due to Disposal Ending
balance Increase Decrease acquisition of a subsidiary of subsidiary balance
Value-added tax (156,028,217,466) 459,736,102,934 (368,616,841,663) - (10,012,613,824) (74,921,570,019)

Corporate income tax 46,886,245,178 364,022,984,594 (378,987,281,960) 15,791,438,602 (12,326,521,262) 35,386,865,152
Personal income tax 9,692,851,926 75,959,706,842 (76,760,290,378) - (157,718,411) 8,734,549,979
Other taxes 2,759,151,174 14,713,447,763 (13,927,220,747) - (39,816,524) 3,505,561,666
TOTAL (96,689,969,188) 914,432,242,133 (838,291,634,748) 15,791,438,602 (22,536,670,021) (27,294,593,222)
In which:
Tax overpaid (11,582,410,202) (32,312,934,530)
Value-added tax deductible (161,162,564,871) (82,004,968,587)
Tax payables 76,055,005,885 87,023,309,895
20. OTHER SHORT-TERM PAYABLES 21. LOANS

VND VND
Dividends payable 272,818,507,600 5,657,581,460 Short-term loans 2,826,214,499,530 4,168,303,495,655
Board of Directors’ allowance 35,760,000,000 23,840,000,000 Loans from banks (Note 21.1) 2,575,153,914,998 3,919,820,703,166
Current portion of domestic straight bonds (Note 21.2) 250,000,000,000 247,452,000,000
Payables for equitization 13,024,471,472 12,716,244,592
Current portion of long-term loan (Note 21.3) 1,060,584,532 1,030,792,489
Others 56,083,985,596 64,798,621,539
Long-term loans 501,058,615,167 751,915,330,417
TOTAL 377,686,964,668 107,012,447,591
Long-term loan from another entity (Note 21.3) 6,154,615,178 7,011,330,424
In which: Domestic straight bonds (Note 21.2) 494,903,999,989 744,903,999,993
Payables to related parties (Note 32) 39,698,979,676 23,840,000,000 TOTAL 3,327,273,114,697 4,920,218,826,072
Others 337,987,984,992 83,172,447,591 Movements of loans are as follows:

VND
Short-term loans Long-term loans Total
Beginning balance 4,168,303,495,655 751,915,330,417 4,920,218,826,072
Drawdown of borrowings 12,143,107,928,912 - 12,143,107,928,912
Current portion of long-term loans 253,608,584,532 (253,608,584,532) -
Foreign exchange difference - 203,869,286 203,869,286
Decrease due to disposal of a subsidiary (228,194,062,720) - (228,194,062,720)
Allocation of bond issuance expenses - 2,547,999,996 2,547,999,996
Repayment of borrowings (13,510,611,446,849) - (13,510,611,446,849)
Ending balance 2,826,214,499,530 501,058,615,167 3,327,273,114,697
1 2 3 4 5 162 163
KIDO GROUP
21. LOANS (CONTINUED) 21. LOANS (CONTINUED)
21.1 Short-term loans from banks 21.2 Domestic straight bonds
Short-term unsecured loans from commercial banks are to finance for working capital requirements. Details of these bonds as at 31 December 2023 are as follows:
Details are as follows:
Arrangement organization Date of issuance Amount
Bank Ending balance Interest rate Maturity date VND
VND % p.a. Vietnam International Commercial Joint Stock Bank (“VIB”) 4 January 2021 525,000,000,000
Joint Stock Commercial Bank for Foreign Trade of Vietnam (“VCB”) - Ho Chi Minh City Branch Shinhan Bank Vietnam Limited (“Shinhan”) 4 January 2021 225,000,000,000
Unallocated bond issuance expenses (5,096,000,011)
Loan 1 498,172,742,619 3.3% - 4.7% From 28 February 2024 to 20 May 2024
TOTAL 744,903,999,989
Loan 2 323,952,698,384 3.0% - 4.0% From 2 May 2024 to 21 May 2024 In which
Loan 3 11,219,285,376 4% 27 February 2024 Long-term bonds 494,903,999,989
Current portion long-term bond 250,000,000,000
Military Commercial Joint Stock Bank - Ho Chi Minh City Branch
Loan 1 395,130,419,847 3.5% - 4.5% From 19 February 2024 to 19 April 2024 On 4 January 2021 the Group issued bonds at total value of VND 1,000 billion (the par value per bond is
VND 1 billion) which was bought by VIB. These bonds will be repaid after five (5) years from the date of
Loan 2 116,355,256,294 4% From 5 June 2024 to 8 June 2024 issuance plus an interest rate of 8% per annum for the second six-month period, and for subsequent six-
Vietnam Joint Stock Commercial Bank for Industry and Trade
month periods the interest rate is the average interest rate of individual saving deposit in VND with the term
of twelve (12) months announced by four (4) banks: VCB, VTB, BIDV and VIB plus margin of 2.75% per annum.
Loan 1 267,701,040,878 3.5% - 4.0% From 6 February 2024 to 10 Jun 2024
On 26 May 2022, the Group appointed VIB as the Payment Agent and the Agent of managing collateral for
Loan 2 30,000,000,000 3% 28 March 2024 the above 1,000 issued bonds of the Company. On 28 May 2022, VIB sold 300 bonds issued by the Group
with a total value of VND 300 billion to Shinhan through a bond purchase agreement. The Group has the
Loan 3 20,956,915,361 4% 27 March 2024 obligation to repurchase these bonds before maturity date from date of issuance as follows:
Bank for Investment and Development of Vietnam - Ho Chi Minh City Branch ◊ minimum 25% of the issued bond value on the date-end of twenty-four (24)-month period from the
issuance date;
Loan 1 164,201,320,108 3.0% - 3.5% From 25 March 2024 to 28 May 2024
◊ minimum 25% of the issued bond value on the date-end of thirty-six (36)-month period from the issuance date;
Loan 2 122,138,013,105 3.5% From 20 March 2024 to 1 April 2024 ◊ minimum 25% of the issued bond value on the date-end of forty-eight (48)-month period from the issuance
date; and
Taipei Fubon Commercial Bank Co., Ltd ◊ the remaining value of issued bond value on the date-end of sixty (60)-month period from the issuance date.
Loan 1 284,051,287,502 4.55% From 28 January 2024 to 31 May 2024 The proceeds from the bonds were used for the purpose of supplementing the Group’s capital for business
and production activities. As at 31 December 2023, the bonds are secured by 92,118,000 shares of Vocarimex
Vietnam International Commercial Joint Stock Bank
and 17,000,000 shares of Tuong An – the Group’s subsidiaries (Note 1).
Loan 1 188,053,310,615 3.5% - 4.2% From 16 January 2024 to 18 April 2024
21.3 Short-term loan from other entity
Malayan Banking Berhad
This is a non-interest bearing and unsecured borrowing from Industrial Urban Development JSC No. 2
Loan 1 81,500,000,000 2.5% - 3.5% From 16 January 2024 to 23 February 2024
in relation to a land lease for manufacturing plant located at Nhon Trach II Industrial Park, Nhon Trach
Vietnam Technological and Commercial Joint Stock Bank District, Dong Nai Province according to Contract No. 115/1988/HDTD dated 12 May 1988.
Loan 1 59,130,482,709 3.8% 15 January 2024 22. BONUS AND WELFARE FUNDS
Shinhan Vietnam Bank Limited VND
Current year Previous year
Loan 1 12,591,142,200 3% 18 March 2024
Beginning balance 146,342,235,166 107,312,917,413
TOTAL 2,575,153,914,998 Disposal of a subsidiary (12,582,730,258) -
Transfer from undistributed earnings 30,459,983,668 40,403,428,617
Utilization of fund (59,925,805,733) (1,374,110,864)
Ending balance 104,293,682,843 146,342,235,166
1 2 3 4 5 164 165
KIDO GROUP
23. OWNERS’ EQUITY
23.1 Increase and decrease in owners’ equity

VND
Issued Share Other owners’ Treasury Investment and Other funds belonging Undistributed
share capital premium capital shares development fund to owners’ equity earnings Total
Previous year:
Beginning balance 2,797,413,560,000 2,970,918,858,330 104,000,000,000 (1,080,464,343,268) 74,811,345,990 15,909,752,661 1,790,232,958,705 6,672,822,132,418
Re-issuance of treasury shares - 136,250,800,000 - 215,191,200,000 - - - 351,442,000,000
Disposal investment - - - - - - 37,213,808,524 37,213,808,524
Net profit for the year - - - - - - 362,600,497,164 362,600,497,164
Dividend declared - - - - - - (305,308,812,000) (305,308,812,000)
Transferred to bonus and welfare fund - - - - - - (35,434,090,087) (35,434,090,087)
Board of Directors’ and Board of Supervision’s

- - - - - - (14,807,558,508) (14,807,558,508)
allowance
Business combination - - - - - - (215,047,582,159) (215,047,582,159)
Ending balance 2,797,413,560,000 3,107,169,658,330 104,000,000,000 (865,273,143,268) 74,811,345,990 15,909,752,661 1,619,449,221,639 6,853,480,395,352
Current year:
Beginning balance 2,797,413,560,000 3,107,169,658,330 104,000,000,000 (865,273,143,268) 74,811,345,990 15,909,752,661 1,619,449,221,639 6,853,480,395,352
Net profit for the year - - - - - - 143,181,337,822 143,181,337,822
Issuance of shares under the Employee

100,649,600,000 50,324,800,000 - - - - - 150,974,400,000
Stock Option Plan (*)
Disposal of subsidiary (Note 4.1) - 2,294,200 (104,000,000,000) - (4,952,350,000) 226,200,180 304,767,942,402 196,044,086,782
Equity transaction with non-controlling

- - - - - - (239,941,306,532) (239,941,306,532)
interest (Note 4.3 and 4.5)
Dividends declared (**) - - - - - - (267,288,970,000) (267,288,970,000)
Transferred to bonus and welfare fund - - - - - - (26,863,832,566) (26,863,832,566)
Board of Directors’ and Board of Supervision’s

- - - - - - (15,211,407,523) (15,211,407,523)
allowance
Ending balance 2,898,063,160,000 3,157,496,752,530 - (865,273,143,268) 69,858,995,990 16,135,952,841 1,518,092,985,242 6,794,374,703,335

1 2 3 4 5 166 167
KIDO GROUP
23. OWNERS’ EQUITY (CONTINUED) 23. OWNERS’ EQUITY (CONTINUED)
23.1 Increase and decrease in owners’ equity (continued) 23.4 Earnings per share (continued)
(*) According to the BOD’s Resolution No. KDC12/2023 dated 24 July 2024, BOD approved the Employee (*) Net profit used to compute earnings per share for the year ended 31 December 2022 was restated
Stock Ownership Plan with the planned number of shares to be issued is 10,064,960 shares and the following the actual allocation to bonus and welfare funds from 2022 retained earnings as approved in
issuance price is 15,000VND/share. As at the date of these consolidated financial statements, the Group the Annual General Meeting’s Resolution dated 27 June 2023.
completed this issuance of shares, accordingly, the Group’s share capital has been increased from
VND’000 2,797,413,560 to VND’000 2,898,063,160, which was approved by the Department of Planning There have been no other transactions involving ordinary shares or potential ordinary shares between the
and Investment of Ho Chi Minh City via issuance of the 27th amended ERC dated 29 December 2023. reporting date and the date of completion of these consolidated financial statements.
(**) According to the Resolution of the 2023 Annual General Meeting of Shareholders dated 27 June 23.5 Non-controlling interests
2023 and the BOD Resolution No. KDC16/2023/NQ-HĐQT dated 27 December 2023, the Company’s VND
shareholders approved the payment of dividend 2022 by cash at 10% of the share’s par value with
amount of VND’000 267,288,970.
Beginning balance 199,247,231,442 221,820,520,523
23.2 Shares Net (loss) profit for the year (7,997,426,364) 12,055,017,131
Share
Capital contribution of non-controlling interest in a subsidiary 960,000,000,000 -
Capital transfer to non-controlling interest (514,212,010,429) -
Ordinary shares authorized to be issued 289,806,316 279,741,356
Disposal of a subsidiary (454,414,372,618) 22,256,658,591
Ordinary shares issued and fully paid 289,806,316 279,741,356
Acquisition of non-controlling interests 188,435,022,184 (31,786,632,861)
Treasury shares held by the Group (22,517,346) (22,517,346)
Dividends declared (47,128,832,000) (19,346,124,000)
In which: held by the Group (22,517,346) (22,517,346)
Transferred to fund (3,596,151,102) (4,969,338,530)
Ordinary outstanding shares 267,288,970 257,224,010
Board of Directors’ allowance (788,589,415) (782,869,412)
23.3 Dividends Ending balance 319,544,871,698 199,247,231,442

VND
24. REVENUE
Dividends declared to shareholders of the parent company during the year 267,288,970,000 305,308,812,000 24.1 Revenues from sale of goods and rendering of services
Dividends paid to shareholders of the parent company 20,082,050 308,926,127,980 VND
23.4 Earnings per share
Gross revenue 8,905,535,115,422 12,787,155,345,809
The following reflects the income and share data used in the basic and diluted earnings per share computations: In which:
Sale of finished goods 8,122,287,602,654 10,954,451,890,032
Current year Previous year Sale of merchandise goods 781,757,427,344 1,826,363,799,483
Net profit attributable to the Company’s shareholders (VND) 143,181,337,822 362,600,497,164 Others 1,490,085,424 6,339,656,294
Less bonus and welfare fund (*) - (13,500,000,000) Less (255,918,909,276) (251,971,860,773)
Net profit after tax attributable to ordinary shareholders for basic In which:
143,181,337,822 349,100,497,164
earnings
Sales discounts (136,530,140,521) (153,017,825,022)
Weighted average number of ordinary shares 258,468,305 257,224,010
Sales return (119,388,768,755) (98,954,035,751)
Basic earnings per share (Par value: VND 10,000 per share) 554 1,357
NET REVENUE 8,649,616,206,146 12,535,183,485,036
Diluted earnings per share (Par value: VND 10,000 per share) 554 1,357
In which:
Sales to a related party 9,558,137,364 1,414,792,982
Sales to other customers 8,640,058,068,782 12,533,768,692,054
1 2 3 4 5 168 169
KIDO GROUP
24. REVENUE (CONTINUED) 28. GENERAL AND ADMINISTRATIVE EXPENSES

VND
24.2 Finance income
VND
Labor cost 178,460,493,945 164,318,241,751
Depreciation and amortization 112,509,747,591 95,627,096,220
Gains from disposal of investments 1,129,184,321,486 122,499,247,718
External services 68,606,564,706 94,200,955,828
Interest income 164,811,029,445 73,578,078,179
Maintenance and rental fees 32,968,095,606 41,597,321,061
Foreign exchange difference gains 15,126,111,922 48,003,046,480
Others 29,469,858,929 13,419,266,154
Others 21,112,559,678 5,892,480,907
TOTAL 422,014,760,777 409,162,881,014
TOTAL 1,330,234,022,531 249,972,853,284
29. OTHER INCOME AND EXPENSES
25. COST OF GOODS SOLD AND SERVICES RENDERED VND
VND
Other income 14,821,218,084 32,302,372,994
Cost of finished goods sold 6,422,966,548,320 8,253,178,036,003
IT service support 5,517,185,108 -
Cost of merchandises sold 662,820,701,080 1,985,696,193,430 Compensation received from suppliers 2,883,555,215 14,984,763,173
Provision for obsolete inventories 1,127,603,734 2,123,920,192 Gains from disposal of assets 87,475,564 3,788,242,550
Others 26,488,710,714 20,578,943,023 Rental income - 3,633,987,825
Others 6,333,002,197 9,895,379,446
TOTAL 7,113,403,563,848 10,261,577,092,648
Other expenses 13,486,354,182 20,213,663,267
26. FINANCE EXPENSES Penalty paid 9,397,612,326 8,050,130,341
VND Support fees - 3,684,255,016
Others 4,088,741,856 8,479,277,910
NET OTHER PROFIT 1,334,863,902 12,088,709,727
Provision for investment diminution 697,871,319,696 1,204,239
Loan interest 240,963,936,871 232,943,464,615 30. PRODUCTION AND OPERATING COSTS
VND
Loss on disposal of investments 53,451,172,364 -
Finance consulting fee 14,809,188,395 -
Raw materials cost 6,450,582,862,768 8,275,880,899,218
Foreign exchange difference losses 2,696,999,836 28,662,281,182
Labor costs 768,125,998,536 783,882,341,326
Allocation of bond issuance expenses 2,547,999,996 2,547,999,996
Cost of merchandises 662,820,701,080 1,985,696,193,430
Others 4,520,454,662 9,805,743,422
TOTAL 1,016,861,071,820 273,960,693,454
27. SELLING EXPENSES Others 143,458,489,139 129,898,780,144
VND
TOTAL 8,716,546,711,741 12,116,764,824,878
Labor cost 589,665,504,591 619,564,099,575 31. CORPORATE INCOME TAX
During the year, the Company and its subsidiaries have the obligation to pay corporate income tax (“CIT”)
Advertising and promotion 204,743,095,505 230,770,505,695 at the rate of 20% of taxable profits.
The tax returns filed by the Company and its subsidiaries are subject to examination by the tax authorities.
Others 86,262,246,110 86,842,464,714 Because the application of tax laws and regulations to many types of transactions is susceptible to varying
TOTAL 1,181,128,387,116 1,446,024,851,216 interpretations, amounts reported in the consolidated financial statements could change at a later date
upon final determination by the tax authorities.
1 2 3 4 5 170 171
KIDO GROUP
31. CORPORATE INCOME TAX (CONTINUED) 31. CORPORATE INCOME TAX (CONTINUED)
31.1 CIT expense 31.3 Deferred tax

VND
The following is deferred tax asset and deferred tax liabilities recognized by the Group, and the movements
thereon, during the current and previous years:
Current CIT expense 351,934,104,959 144,737,861,945 VND
Under accrual of tax from prior years 12,088,879,635 1,156,397,708 Consolidated balance sheet Consolidated income statement
Deferred tax income (176,137,541,581) (9,951,380,672) Ending balance Beginning balance Current year Previous year
TOTAL 187,885,443,013 135,942,878,981 Deferred tax assets
Reconciliation between the CIT expense and accounting profit multiplied by CIT rate is presented below: Accrued expense 40,048,254,597 52,941,717,153 (16,012,585,842) (4,054,441,022)
Severance allowance 5,444,893,169 6,932,360,346 312,725,497 1,829,233,702

VND
Current year Previous year Unrealized profits 10,316,615,126 15,904,258,126 (5,587,643,000) 6,050,061,364
Accounting profit before tax 323,069,354,471 510,598,393,276 Provision at separate level 1,052,438,074 687,769,736 880,057,405 (388,754,209)
At applicable CIT rate to companies in the Group 64,613,870,894 102,119,678,655 Tax loss 4,816,404,786 - 4,816,404,786 -
Adjustments:
61,678,605,752 76,466,105,361 (15,591,041,154) 3,436,099,835
Non-deductible expenses 12,278,941,592 9,161,640,612
Deferred tax liabilities
Amortization of goodwill 9,573,538,427 6,139,758,531
Provision for investment
Disposal of fair value investments (162,155,509,138) 387,512,421 (1,659,225,142) (11,770,175,451) 10,110,950,309 (7,862,587,171)
diminution
Shares of profit of joint venture and associates (15,058,409,091) (20,815,772,712)
Provision for doubtful debts (16,868,191,982) (16,868,191,982) - (4,971,403,965)
Unrecognized deferred tax of tax losses carried forward 5,032,525,415 36,866,307,423
Gain from acquisition of a
Utilization of tax losses carried forward (21,697,060,664) (1,242,985,185) (73,926,849,590) (73,926,849,590) - -
subsidiaries
Gain from disposal of a subsidiary (75,389,277,338) -
Gain from revalued assets arising
Adjust gain from disposal of an associate 301,001,192,211 - (437,349,054,005) (618,966,686,430) 181,617,632,426 19,349,271,973
from business combination
Adjust the gain from dividend shares (77,475,021,705) - (529,803,320,719) (721,531,903,453) 191,728,582,735 6,515,280,837
Provision for investment diminution 157,213,024,449 -
Net deferred tax liabilities (468,124,714,967) (645,065,798,092)
Others (22,141,251,674) 2,307,822,874
Net deferred tax credit to
CIT expense during the year 175,796,563,378 134,923,962,619 176,137,541,581 9,951,380,672
consolidated income statement
Tax deduction - (137,481,346)
Under accrual of tax from prior years 12,088,879,635 1,156,397,708
CIT expense 187,885,443,013 135,942,878,981
31.2 Current tax
The current CIT payable is based on taxable profit for the current year. Taxable profit differs from profit
as reported in the consolidated income statement because it excludes items of income or expense that
are taxable or deductible in other years and it further excludes items that are not taxable or deductible.
The Group’s liability for current tax is calculated using tax rates that have been enacted by the balance
sheet date.
1 2 3 4 5 172 173
KIDO GROUP
31. CORPORATE INCOME TAX (CONTINUED) 32. TRANSACTIONS WITH RELATED PARTIES
31.4 Tax losses carried forward List of related parties that have a controlling relationship and significant transactions with the Company
during the year and as at 31 December 2023 is as follows
The Group is entitled to carry each individual tax loss forward to offset against taxable profits arising
within five (5) years subsequent to the year in which the loss was incurred. At the balance sheet date,
the Group has accumulated tax losses of VND 76,196,526,340 (31 December 2022: VND 209,089,551,342) Related parties Relationship
available for offset against future taxable profits. Details are as follows:
VND Vocarimex Subsidiary
Originating Can be Tax loss Utilized up to 31 Unutilized at 31 TAC Subsidiary

year utilized up to amount December 2023 Forfeited December 2023
2018 2023 187,007,586,065 (139,291,089,461) (47,716,496,604) - KNB Subsidiary
2019 2024 154,133,305,314 (120,305,057,441) - 33,828,247,873 KIDOFOOD Subsidiary
2020 2025 109,548,112,552 (93,436,869,623) - 16,111,242,929 KTS Subsidiary
2021 2026 6,421,880,784 - (6,214,925,927) 206,954,857 KLA Subsidiary
2022 2027 111,226,609,079 (111,071,714,305) - 154,894,774

Tho Phat Subsidiary
2023 2028 20,992,865,701 - - 20,992,865,701
Tho Phat Food Subsidiary
TOTAL 589,330,359,495 (464,104,730,830) (53,931,422,531) 71,294,206,134
KDF (from 27 April 2023) Associate
Estimated tax losses as per the Group’s corporate income tax declaration have not been audited by the
local tax authorities as of the date of these consolidated financial statements. Calofic (up to 14 March 2023) Associate
The Group has not recognized deferred tax assets for the accumulated losses as at 31 December 2023 due Lavenue Associates jointly controlled
to uncertainty of the Group’s future taxable profits.
Vibev (up to 15 June 2023) Joint Venture
Dabaco Associates jointly controlled
Kido Land JSC (“KDL”) Common key personnel
Kido Investment Co. Ltd (“KDI”) Common key personnel
Saigon Truong Luu Thuy Corporation (“Truong Luu Thuy”) Common key personnel
Mr. Tran Hoang Nam (up to 28 April 2023) Shareholder of subsidiary
Ms. Le Thi My Vinh (up to 28 April 2023) Shareholder of subsidiary

1 2 3 4 5 174 175
KIDO GROUP
32. TRANSACTIONS WITH RELATED PARTIES (CONTINUED) 32. TRANSACTIONS WITH RELATED PARTIES (CONTINUED)
Significant transactions with related parties during the year were as follows: Amounts due from and due to related parties at the balance sheet date were as follows (continued):
VND
VND
Related parties Transaction Current year Previous year
Related parties Transaction Ending balance Beginning balance
Truong Luu Thuy Lending 300,000,000,000 -
Short-term trade payables
Loan collection 150,000,000,000 -
KDF Purchase of merchandise (70,170,083,252) -
KDF Purchase of merchandises 268,923,454,609 - Vibev Purchase of merchandise - (1,510,446,175)
Sale of finished goods 8,194,501,000 - (70,170,083,252) (1,510,446,175)
Purchase of tools and supplies 2,775,177,364 - Other short-term payable
Board of Directors and Board of Supervision Allowance (35,760,000,000) (23,840,000,000)
Information technology service 2,271,225,014 -
KDF Payment on behalf (3,938,979,676) -
KDL Office rental income 1,363,636,364 340,909,091 (39,698,979,676) (23,840,000,000)
Calofic Dividends received - 62,700,055,368
Remuneration of members of the Board of Directors paid during the year:
Amounts due from and due to related parties at the balance sheet date were as follows: VND
VND Individuals Position Current year Previous year
Related parties Transaction Ending balance Beginning balance Mr Tran Kim Thanh Chairman 96,000,000 2,456,000,000
Short-term trade receivables Mr Tran Le Nguyen Vice Chairman 843,427,697 3,197,030,899
Ms Nguyen Thi Xuan Lieu Member 689,142,157 684,024,719
KDF Sale of finished goods 9,471,343,754 -
Ms Vuong Buu Linh Member - 1,770,000,000
KDI Sale of merchandises 719,988 -
Ms Vuong Ngoc Xiem Member - 1,770,000,000
Vibev Sale of raw materials - 1,082,220,190 Mr Tran Quoc Nguyen Member - 1,180,000,000
9,472,063,742 1,082,220,190 Mr Nguyen Van Thuan Member - 394,120,000
Other short-term receivables Mr Nguyen Gia Huy Chuong Member - 392,940,000
Mr Nguyen Duc Tri Member - 392,940,000
KDI Payment on behalf 9,874,483,174 1,478,229,017
TOTAL 1,628,569,854 12,237,055,618
Truong Luu Thuy Interest income 4,273,972,603 -
KDF Office rental income 1,213,968,872 - Salary of the Board management:
VND
KDL Office rental income 1,000,000,000 -
Individuals Position Current year Previous year
Mr. Tran Hoang Nam Investment trust - 97,000,000,000
Mr Tran Le Nguyen General Director 3,182,400,000 3,141,600,000
Interest income - 14,350,191,779
Ms Vuong Buu Linh Deputy General Director 1,609,920,000 1,589,280,000
Ms. Le Thi My Vinh Interest income - 2,448,493,151 Ms Vuong Ngoc Xiem Deputy General Director 1,609,920,000 1,589,280,000
16,362,424,649 115,276,913,947 Ms Nguyen Thi Xuan Lieu Deputy General Director 1,609,920,000 1,589,280,000
Short-term loan receivables Mr Wang Ching Hua Deputy General Director 1,609,920,000 1,589,280,000
Truong Luu Thuy Lending 150,000,000,000 - Mr Bui Thanh Tung Deputy General Director 1,609,920,000 1,589,280,000
Mr Tran Tien Hoang Deputy General Director 1,609,920,000 1,589,280,000
Mr. Tran Hoang Nam Lending - 118,000,000,000
Mr Mai Xuan Tram Deputy General Director 804,960,000 1,589,280,000
Ms. Le Thi My Vinh Lending - 140,000,000,000 Mr Tran Quoc Nguyen Deputy General Director 804,960,000 1,589,280,000
150,000,000,000 258,000,000,000 TOTAL 14,451,840,000 15,855,840,000
Long-term loan receivable
Salary of Board of Supervision:
Mr. Tran Hoang Nam Lending - 30,000,000,000 VND
Salary and operating expenses of Board of Supervision 415,500,000 489,000,000
1 2 3 4 5 176 177
KIDO GROUP
33. COMMITMENTS 34. SEGMENT INFORMATION (CONTINUED)
Operating lease commitments The following tables present revenue, profit and certain asset information regarding the Group’s business
segments:
The Group leases land, offices and warehouses under operating lease arrangements. The minimum lease
commitment as at the balance sheet date under the operating lease agreements is as follows: VND
VND
Edible oil business Foods business Other business Total
Current year
Within 1 year 43,818,410,167 49,826,041,162
Segment revenue
From 1 to 5 years 131,221,914,965 26,685,991,784
More than 5 years 4,972,051,792 16,585,966,548 Sales to external customers 6,473,705,513,352 1,475,095,368,560 956,734,233,510 8,905,535,115,422
TOTAL 180,012,376,924 93,097,999,494 Sales deductions (147,085,916,633) (71,662,855,248) (37,170,137,395) (255,918,909,276)
6,326,619,596,719 1,403,432,513,312 919,564,096,115 8,649,616,206,146

Capital contribution obligation
Gross profit 629,597,397,658 472,256,043,068 434,359,201,572 1,536,212,642,298
As at the balance sheet date, the Group had outstanding capital contribution obligation to subsidiaries and
investment in another entity amounting to VND 660,900,000,000. Selling expenses (460,193,435,332) (482,244,986,859) (238,689,964,925) (1,181,128,387,116)
General and administration

34. SEGMENT INFORMATION expenses
(330,661,723,631) (50,559,932,189) (40,793,104,957) (422,014,760,777)
A business segment is a distinguishable component of an enterprise that is engaged in manufacturing or Shares of profit of joint
(5,233,981,143) 72,848,485,343 7,677,541,253 75,292,045,453
providing an individual product, service or a group of related products or services and that is subject to ventures and associates
risks and returns that are different from those of other business segments. The Group’s business activities
Finance income 1,330,234,022,531
include edible oil business, foods business and other activities.
Finance expenses (1,016,861,071,820)
Geographical area-based segment is a distinguishable component of the Group. It engages in the course
Other income 1,334,863,902
of manufacturing or supplying products and services in a specific economic environment on which the
segment has risks and economic benefits different from that of other components. The operations of Profit before tax 323,069,354,471
the Group are implemented in Vietnam, therefore, the Group decided not to present the geographical
segments. Segment assets 6,214,821,527,075 1,040,474,371,828 6,366,512,101,359 13,621,808,000,262
Reconciliation:
This segment report includes items which are directly attributed to a segment as well as each segment
on a reasonable basis. The unallocated items consist of assets, liabilities, finance income, finance expense, Elimination of inter-segment
(1,230,793,846,773)
selling expense, general and administrative expense, other gains or losses and corporate income tax. receivables
Total assets 12,391,014,153,489

The primary segment reporting format is determined to be business segments including edible oil business,
food business and other business. Segment liabilities 1,974,017,783,594 - 4,531,698,274,152 6,505,716,057,746
Reconciliation:
Elimination of inter-segment
(1,230,793,846,773)
payables
Total liabilities 5,274,922,210,973

1 2 3 4 5 178 179
KIDO GROUP
34. SEGMENT INFORMATION (CONTINUED) 35. EVENTS AFTER THE BALANCE SHEET DATE
The following tables present revenue, profit and certain asset information regarding the Group’s business There have been no significant events occurring after the balance sheet date which would require
segments: (continued) adjustments or disclosures to be made in the consolidated financial statements of the Group.
VND
Edible oil business Foods business Other business Total
Previous year
Segment revenue
Sales to external customers 10,462,835,313,473 1,924,498,794,425 399,821,237,911 12,787,155,345,809 Tran Minh Nguyet Nguyen Thi Oanh Tran Le Nguyen
Preparer Chief Accountant General Director
Sales deductions (137,795,191,212) (81,841,690,817) (32,334,978,744) (251,971,860,773)
10,325,040,122,261 1,842,657,103,608 367,486,259,167 12,535,183,485,036
29 March 2024
Gross profit 1,004,165,622,882 1,083,205,657,959 186,235,111,547 2,273,606,392,388
Selling expenses (635,106,159,453) (657,926,317,557) (152,992,374,206) (1,446,024,851,216)
General and administration

(292,977,260,036) (66,685,991,601) (49,499,629,377) (409,162,881,014)
expenses
Shares of profit of joint

148,558,186,770 (2,833,031,055) (41,646,292,154) 104,078,863,561
ventures and associates
Finance income 249,972,853,283
Finance expenses (273,960,693,454)
Other loss 12,088,709,727
Profit before tax 510,598,393,275
Segment assets 8,892,044,809,653 1,159,303,011,099 5,813,075,087,098 15,864,422,907,850
Reconciliation:
(1,860,634,412,542)
receivables
Total assets 14,003,788,495,308
Segment liabilities 3,609,114,390,762 394,795,915,381 4,807,243,197,933 8,811,153,504,076
Reconciliation:
(1,860,634,412,542)
payables
Total liabilities 6,950,519,091,534

138-142 Hai Ba Trung, Da Kao Ward, District 1, Ho Chi Minh City
T : (+84-28) 3827 0468
F : (+84-28) 3827 0469
E : info@kdc.vn
ww.kdc.vn

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GROUP INTRODUCTION STRATEGY REPORT CORPORATE GOVERNANCE CONSOLIDATED FINANCIAL STATEMENTS

SHARING RESPONSIBILITY IN COMMUNITIES

FOR THE OIL AND BUTTER BUSINESS UNIT

Cooking oil (Retail channel)

FOR THE SPICE BUSINESS UNIT

CHAIRMAN’S MESSAGE FOR THE ICE CREAM BUSINESS UNIT

COMPANY OVERVIEW Processing and preserving of fruits and vegetables

Phone number (84-28) 3827 0468

Fax (84-28) 3827 0469 GENERAL INTRODUCTION

VISION - MISSION - CORE VALUES

KIDO’s mission to consumers is to provide convenient,

With partners, KIDO’s mission is to create sustainable

To shareholders, KIDO’s mission is to allocate capital to

We always incubate and create all conditions to

To contribute to the development and support of

VISION - MISSION - CORE VALUES (continued)

PIONEER - LEADING CREDIBILITY

CREATIVITY - INNOVATION DYNAMIC FEATURES

HISTORY OF ESTABLISHMENT AND DEVELOPMENT

KIDO - A JOURNEY OF OVER 30 YEARS WITH NUMEROUS HISTORICAL

» Opened the first bakery system.

Building the foundation Building differentiating factors

1993 1994-1998 2002 2003

HISTORY OF ESTABLISHMENT AND DEVELOPMENT

2004 2010-2012 2015

Strengthening competitive edge Solidifying leading positions Brand expansion

2004-2008 2010-2014 2015-2019

2005 2006-2008 2013-2014 2016-2019

» Kido Foods led the ice cream market; Tuong An

HISTORY OF ESTABLISHMENT AND DEVELOPMENT

» Launched fresh bakery products of KIDO’s Bakery brand in the style of

» Merged KDF into KDC.

Growth from internal resources

ORGANIZATION AND HUMAN RESOURCES ORGANIZATIONAL CHART

The General Meeting of Shareholders oversees the

The Supervisory Board plays a crucial role in overseeing

To maintain a balance between short-term and long-term STRATEGIC

TEAM 01 TEAM 02 TEAM 03

BUSINESS BUSINESS DEVELOPMENT PRODUCTION, QA/QC ADMINISTRATIVE, HUMAN RESOURCES,

ORGANIZATIONAL STRUCTURE (continued)

TEAM 1 - BUSINESS TEAM

TEAM 2 - SUPPLY CHAIN MANAGEMENT (SCM)

» EACH TEAM’S CAPACITY SHOULD BE SPECIALIZED AND

ORGANIZATIONAL STRUCTURE (continued)

HUMAN RESOURCES HUMAN RESOURCES STRATEGY ORIENTATION

College level 603 11.79 %

Promote a culture of continuous learning by providing department-specific training

Maximize resource efficiency by leveraging technology and software systems to streamline

Doctoral degree 0.06 %

College level 11.79 %

ORGANIZATIONAL STRUCTURE (continued)

HUMAN RESOURCES STRATEGY ORIENTATION (continued)

TEAM 1 - BUSINESS TEAM

Total number of shares

Number of treasury shares

Total number of shares

01 HEAD OFFICE 450,000

Lot A2-7, Road N4, Cu Chi Northwest Industrial Park,