SJC, a leading jewelry manufacturer and trader in Vietnam, aims to achieve a profit of 70.2 billion VND this year, despite reducing nearly 4,500 taels of gold bars. The company has set a revenue target of around 30,145 billion VND, which is slightly down by 1% from the previous year’s plan. However, SJC is optimistic about its post-tax profit and plans to produce nearly 31,700 taels of gold bars and more than 444,900 jewelry items.
The company is focusing on expanding its business through investing in new products and collaborations with travel companies. SJC plans to introduce agarwood handicrafts, watches, eyeglasses and other luxury goods into the market. As part of its expansion strategy, SJC aims to become a leading enterprise in jewelry manufacturing and trading in Southeast Asia.
SJC has been contributing significantly to the State budget over the years as a 100% state-owned enterprise under the People’s Committee of Ho Chi Minh City. It is one of the enterprises that will have less than half of charter capital owned by the state after equitization. Despite being authorized by the State Bank to exclusively produce gold bars since 2014, recent fluctuations in the gold market have prompted discussions about changing production plans and eliminating its monopoly status.
If successful in achieving its goals for this year, SJC will record its third consecutive year of revenue over $1 billion USD and achieve the highest profit in six years. This achievement underscores SJC’s commitment to excellence and growth within Vietnam’s jewelry industry.
