SJC Strives for Record Profits in 2023, Expanding Business Operations and Introducing New Products

SJC Company, a 100% state-owned enterprise under the People’s Committee of Ho Chi Minh City, has set its sights on achieving record profits in 2023. According to this year’s business plan, the company aims to make more than 70 billion VND in profit, which is the highest level since 2018. Despite reducing nearly 4,500 taels of gold bars from their previous targets, SJC is determined to achieve this milestone.

In addition to setting high financial goals, SJC has also outlined a revenue plan of approximately 30,145 billion VND for the upcoming year. Although this is slightly down from their 2023 plan, they remain focused on achieving a profit of 70.2 billion VND – a significant increase from previous figures. If successful, this would mark the third consecutive year that SJC has achieved revenue exceeding a billion USD and record profits in the past six years.

SJC is forecasting an increase in profit after tax even with policies aimed at reducing production output. In the upcoming year, they plan to produce nearly 31,700 taels of gold bars and more than 444,900 pieces of jewelry – both decreases compared to previous targets. However, SJC is investing heavily in jewelry production and business expansion and aims to become a leading enterprise in the industry. They are introducing new products such as agarwood items, handicrafts, watches and eyeglasses and collaborating with travel companies domestically and internationally to reach customers.

Despite challenges like fluctuations in the gold market and discussions about changing production plans or eliminating monopoly status held by SJC since 2014, the company remains committed to achieving its financial targets and expanding its business operations significantly contributing to the state budget over the years.