SJC Company Sets New Revenue Goals and Plans for Expansion Despite Changes in Gold Market
This year, SJC Company has set a new revenue plan of approximately 30,145 billion VND, down from the 2023 plan. However, they are determined to achieve a profit of 70.2 billion VND, which is a 24% increase compared to previous figures. If successful, this would mark the third consecutive year that SJC has achieved revenue exceeding a billion USD, with record profits in the past six years.
SJC is also forecasting an increase in profit after tax despite reducing nearly 4,500 taels of gold bars and decreasing production output by about 18%. In the upcoming year, they will focus on investing in jewelry production and business expansion. They plan to introduce new products such as agarwood items, handicrafts, watches, and eyeglasses. Through collaborations with travel companies both domestically and internationally, SJC aims to reach customers worldwide.
As a 100% state-owned enterprise under the People’s Committee of Ho Chi Minh City since 2014, SJC has played a vital role in contributing to the state budget over the years. The company holds a unique position as the only unit authorized by the State Bank to produce gold bars exclusively since then. Recent fluctuations in the gold market have led discussions about changing production plans and eliminating monopolies held by SJC. Despite these challenges, SJC remains committed to achieving its financial targets and expanding its business operations while maintaining its position as a leading enterprise in the industry.
