Saigon Jewelry Company (SJC) plans this year to collect approximately VND 34,900 billion, an increase of more than 4,750 billion compared to last year’s target.
Calculated by relative value, this year’s revenue plan increased by 16% over the same period. This is the highest goal since SJC was chosen by the Government and the State Bank to be the national gold bar brand 13 years ago.
This information was stated by the SJC Board of Directors in the document to the People’s Committee of Ho Chi Minh City – the State representative unit owning 100% of this enterprise.
SJC occupies the largest gold bar market in the country aims to process over 20,000 gold, and sell more than 500,000 jewelry. The company expected profits before and after tax increased by about 25%, reaching VND 119 billion and VND 89 billion respectively.
Important tasks this year were “copied” similarly last year, such as expanding the market to bring the brand to Southeast Asia or develop into a leading enterprise for jewelry production and business.
SJC often sets a business target quite close, except for 2022 deviations of nearly VND 10,000 billion between the plan and implementation.
Last year, SJC plans to collect VND 30,145 billion and after a tax profit of VND 70 billion. The company has not yet published auditing financial statements 2024, but it is likely that the results soared by the price of gold bars fluctuated strongly. From less than 63 million dong each earlier last year, the price increased close to 90 million at the end of October, which accumulated nearly 43%. Earlier this year, the price increased to the peak of nearly 103 million dong, before adjusting to 100 million dong as it is now.
SJC is a 100% state -owned enterprise. They are among the state -owned enterprises that will hold 50% of charter capital or less or not owned after equitization.
The company has just fluctuated with superior personnel at the end of last year, after the Ministry of Public Security prosecuted 6 people (including Ms. Le Thuy Hang, General Director) of this enterprise and related units due to taking advantage of the purchase and sale of gold stabilization, setting up vouchers, appropriating property. Deputy General Director Dao Cong Thang was assigned the act of General Director, replacing Ms. Hang, who has been in this position since 2019.