Market and product

On the afternoon of February 25, 2026, Mr. Phùng Quang Hiệp – Secretary of the Party Committee and Chairman of the Members’ Council of the Vietnam National Chemical Group (VINACHEM) – paid a working visit to Lam Thao Superphosphate and Chemicals Joint Stock Company.

Speaking at the meeting, the Chairman stated that in the very first working week of the year, the Group had the honor of welcoming Party and State leaders to visit and extend New Year greetings—an event of special significance that demonstrated the attention and recognition given to the chemical industry. Many opinions highly appreciated the Group’s strong momentum, working spirit, and positive transformation in recent times.

Regarding the 2025 results, the Chairman reported that the Group’s consolidated revenue was estimated at approximately VND 65 trillion, mainly from industrial production, contributing to higher value addition; consolidated profit exceeded VND 4 trillion; and the average monthly income reached nearly VND 18 million per employee, with a workforce of over 18,000. Notably, the parent company fully eliminated its accumulated losses after many years, creating a solid financial foundation and entering a new development phase, reducing pressure on member units, increasing investment resources, and enhancing autonomy. These results reflect collective effort and solidarity amid numerous challenges.

Entering 2026, production activities across units have shown strong momentum. During the Lunar New Year holiday, plants operated safely and stably; employee welfare was well taken care of, with many units offering high bonuses and benefits, creating motivation and strengthening employees’ long-term commitment.

The Chairman affirmed that the chemical industry continues to be identified by the Party and the State as a foundational industry; therefore, the Group and each unit must take the lead in innovation, sustainable development, and enhanced competitiveness. In the 2026–2030 period, the Group must focus on scientific research and technological application, promote green and digital transformation, build value chains, and avoid short-term thinking. In addition to production and business tasks, the Group places special emphasis on working conditions and employees’ living standards; investment in facilities and welfare is considered an investment in people and long-term development.

For the Company specifically, the Chairman emphasized that challenges arise every year—some carried over from previous years, others newly emerging—thus requiring proactive forecasting, bold innovation, and gradual resolution. He expressed confidence that the Company’s leadership and workforce would continue to uphold their tradition of solidarity, develop long-term strategies, increase employee income, and strive to exceed the Group’s average level. Every income and bonus carries significant meaning for employees and their families; therefore, leaders must truly share, understand, and act responsibly.

On the occasion of the Lunar New Year, the Chairman acknowledged and commended the Company’s achievements in 2025 and extended wishes for health, happiness, solidarity, and determination to build the Company into a true “second home” for employees, continuing to grow strongly and contribute positively to the locality, society, and the nation.

Responding to the directives, Mr. Phạm Thanh Tùng, General Director of Lam Thao Superphosphate and Chemicals JSC, expressed sincere appreciation for the Group leadership’s sentiments, good wishes, and close guidance. He affirmed that the Company’s leadership and employees would seriously absorb the directives as important guidance for successfully fulfilling tasks in 2026 and the years ahead.

He noted that this year’s Lunar New Year featured several meaningful new initiatives. Notably, from January 1, 2026, the Company implemented a meal program consisting of one main meal and one supplementary meal provided directly on-site, demonstrating its commitment to improving living standards, caring for employees’ health, and enabling long-term dedication to the enterprise.

Regarding Lunar New Year benefits, including salaries and bonuses, total income reached approximately VND 40–42 million per employee. Although this remains below the Group’s average, the Company will continue improving production and business efficiency to enhance employee income and living standards. Employees celebrated the holiday in high spirits; after the break, they returned to work fully and with stable morale, creating strong emulation momentum from the beginning of the year.

In terms of production and business, the Company recognizes that 2026 will remain challenging, especially due to rising input material prices—particularly sulfur—and market fluctuations in fertilizer products such as urea, DAP, and potash. However, from the beginning of the year, the Company proactively developed appropriate plans and has initially recorded positive signs, with consumption reaching approximately 3,000 tons, gradually recovering from previous difficulties. At the same time, the Company is actively implementing investment projects in line with the Group’s orientation and preparing conditions to launch several items in the near future.

In line with the Group leadership’s direction to enhance operational efficiency, since mid-2025 the Company has conducted comprehensive reviews and assessments, developing specific solutions to improve governance capacity, reduce costs, and increase production and business efficiency.

With solidarity, responsibility, innovation, and strong determination, the Company’s entire workforce is confident in fulfilling the production, revenue, and profit targets assigned by the Group. The year 2026 is significant as a foundation toward the 65th anniversary of the Company’s commencement of production in 2027. The Company is determined to exert maximum effort, achieve outstanding results, and mark this important milestone with practical achievements, while continuing to innovate in leadership and management to contribute to the Group’s sustainable and effective development.

After the working session, Mr. Phùng Quang Hiệp visited the construction site of the SOP production line plant project. He acknowledged the implementation progress of project items and highly appreciated the engineers and workers for ensuring schedule compliance, construction quality, and occupational safety.

He emphasized that the SOP plant project is one of the Group’s key projects, contributing to product diversification, enhanced production capacity, and greater value addition. Therefore, relevant units must continue strictly implementing management and technical solutions to ensure progress and quality, closely control costs, protect the environment, and ensure absolute safety for workers.
The Chairman also assigned tasks to the Company’s leadership and relevant units to strengthen coordination, accelerate key project items, and prepare conditions for trial operation and bringing the plant into effective production at the earliest possible time.

During this visit, Mr. Phùng Quang Hiệp also attended the Company’s second Flower and Ornamental Creatures Festival, scheduled to open on February 27, 2026. He highly appreciated the initiative to organize the festival as an opportunity for employees to interact, relax, and enhance their spiritual well-being, while also promoting the Company’s image and reaffirming its tradition of community engagement.

The Chairman stressed that the festival is not only a cultural activity but also reflects attention to employees’ spiritual life, contributing to a friendly, united, and creative working environment. He requested the organizing committee to ensure the best conditions for safety, display, and visitor experience, while encouraging creativity and innovation in festival content and activities to create a distinctive impression and promote the locality’s cultural and tourism image.