THACO AUTO thrives on a comprehensive strategy of manufacturing and selling a diverse range of trucks, buses, and passenger cars, catering to mid-range to high-end segments. We offer both international and our own THACO-branded vehicles, ensuring the unique needs of Vietnamese and export markets. We also manage the distribution and retail of spare parts and supplies, connected to our branded vehicle operations. We integrate all aspects of the automotive value chain, from product research and development to production, distribution, retail, and after-sales service. THACO AUTO has cultivated a multi-brand auto retail system stocked with a wide variety of models to foster integration and complementarity within THACO's multi-industry ecosystem.

While 2024 presents the second year within our 5-year strategy (2023-2027), and industry experts predict continued challenges in the auto market, THACO AUTO remains steady in preparing production and business plans to achieve our targets in 2024 as follows:

THACO AUTO Production Division: Focus on R&D, upgrade current products to meet customer needs, launch THACO-branded buses and trucks by June 2024, invest and open an R&D center in December 2024.

3 Business Divisions at THACO AUTO Head Office: Following the recent restructuring, each business division has a streamlined focus on core functions. Their mission is to forecast market trends and identify business opportunities, secure key partnerships and execute strategic transactions, develop business plans to achieve sales and market share goals, optimize inventory management and streamline ordering through coordinated policies.

Retail systems in Northern and Southern Vietnam regions: Following the Chairman's vision, we've successfully implemented new retail models. In 2024, we'll take the next step by deploying comprehensive business solutions, conducting a comprehensive evaluation to establish achievable targets, implementing targeted solutions to optimize vehicle sales and after-sales service performance, consolidating and empowering our workforce to adhere to regulations and ensure smooth operations.

THACO AUTO will launch a restructuring program to optimize capital, minimize financial risks, and enhance transparency across affiliated companies and units, including consolidating and streamlining legal entities, capital sources, and assets, upgrading management practices in provincial agent companies, and supporting independent agents for sustainable growth alongside THACO AUTO.

THACO AUTO prioritizes workforce development, shaping talent aligned with THACO's philosophy, culture, industrial management practices, and global integration trends, meanwhile cultivating unique THACO AUTO characteristics. Our HR policies seamlessly integrate with THACO's framework. THACO AUTO is actively seeking new talents, including external candidates for executive and management roles, to bolster our corporate head office and provincial companies. In parallel, we're committed to developing our existing managers and leaders through practical and professional training.

Improve our KPI-based Performance Management Program, embrace comprehensive data and targeted actions to sharpen production efficiency, build the innovation engine and boost productivity.

THACO AUTO has designated 2024 as the year of "Management Advancement", aiming to enhance the capabilities of our nearly 15,000 workforce, with a particular emphasis on the 10,300 employees stationed in provincial companies. Echoing the Chairman's 2024 Message and its "Strict in Love" philosophy, THACO AUTO leadership is committed to exemplifying self-discipline, adherence to established procedures, and a sense of accountability for the performance of their respective units. THACO AUTO prioritizes fostering a nurturing, transparent, and high-functioning work environment. This commitment manifests through training programs, expert guidance, and the creation of opportunities for individual and organizational growth, ultimately aiming to cultivate robust successive leaders.

The 2024 message from the THACO Chairman has inspired and instilled a resolute commitment within all THACO AUTO employees to strengthen their minds, expertise, and management. This dedication is coupled with a spirit of confidence to overcome any challenge presented. THACO AUTO reaffirms its pioneering role in spearheading the development of groundbreaking solutions. The company remains steadfast in meticulously planned program to consolidate and enhance its governance frameworks, ensuring the successful implementation of our proposed strategies and plans.