Biwase Company (BWE) announced its decision to divest the entire 52% stake, equating to 10.4 million shares, in its subsidiary, Biwelco. The divestment is expected to occur in 2025, after which Biwelco will no longer be a subsidiary. Established on September 24, 2020, Biwelco has a charter capital of 200 billion VND, with CEO Van Kim Hung Phong in charge. In the 2025 annual general meeting, Biwase approved a business plan aimed at achieving consolidated revenue of 4.76 trillion VND and a post-tax profit of 640 billion VND. Shareholders will receive a cash dividend of 13%, amounting to over 285.9 billion VND. For 2024, Biwase reported revenue of 4.387 trillion VND, a 7% increase, while net profit decreased by 5% to 570 billion VND. In 2024, Biwase aims for a revenue target of 4.1 trillion VND and a profit of 700 billion VND.
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