SJC Company, a 100% state-owned enterprise under the People’s Committee of Ho Chi Minh City, has set a target profit of more than 70 billion VND for this year. This is the highest level since 2018 and despite reducing nearly 4,500 taels of gold bars, they aim to achieve this milestone. The company has outlined a revenue plan of approximately 30,145 billion VND, slightly down from the 2023 plan. However, they are striving for a profit of 70.2 billion VND, a 24% increase from previous figures.
If successful, SJC will achieve record profits in the past six years and mark the third consecutive year that they have exceeded revenue over a billion USD. Despite reducing production output due to policy changes, SJC is forecasting an increase in profit after tax. They plan to produce nearly 31,700 taels of gold bars and more than 444,900 pieces of jewelry in the upcoming year. Through collaborations with travel companies, SJC aims to reach customers both domestically and internationally by introducing new products such as agarwood items, handicrafts, watches and eyeglasses.
SJC is committed to becoming a leading enterprise in the industry by investing in jewelry production and business expansion. The company holds a unique position as the only unit authorized by the State Bank to produce gold bars exclusively since 2014. Recent fluctuations in the gold market have prompted discussions about changing production plans and eliminating their monopoly status held by SJC but despite these challenges they remain committed to achieving their financial targets and expanding their business operations.
In conclusion, SJC Company continues to thrive despite policy changes and market fluctuations with its commitment to achieving financial targets while expanding its business operations through investment in new products and collaborations with travel companies.
