On March 21, Thuan An Wood Processing JSC held its Annual General Meeting of Shareholders and Employee Conference 2024, marking another successful year despite numerous market challenges.
Strong Business Performance Amid Difficulties
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Despite facing significant headwinds in 2023, Thuan An Wood achieved impressive results:
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Total revenue: VND 266.15 billion
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Pre-tax profit: VND 12.94 billion (up 9.41% vs. plan)
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After-tax profit: VND 10.3 billion (up 8.91% vs. plan)
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Average monthly income: VND 8.8 million/person (up 16% vs. plan)
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Dividend payout: 5.5%
The company was honored with the Excellent Emulation Flag from the Committee for Management of State Capital at Enterprises, recognizing it as a leading performer within the Vietnam Rubber Group (VRG) system.
Five Consecutive Years of Sustainable Development Recognition
2023 marked the fifth consecutive year that Thuan An Wood ranked among the Top 100 Sustainable Enterprises in Vietnam, recognized for outstanding achievements across three pillars: Economy, Society, and Environment. The distinction was awarded by the Vietnam Business Council for Sustainable Development (VBCSD).
Continued Growth Targets for 2024
Building on its strong 2023 performance, Thuan An Wood set ambitious yet achievable targets for 2024:
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Total revenue: VND 273.5 billion
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Pre-tax profit: VND 10.7 billion
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Average income: VND 8.8 million/person/month
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Dividend payout: 5%
During the shareholder meeting, all key resolutions were unanimously approved, reaffirming shareholders’ confidence in the company’s management and strategic direction.
Leadership Commendation and Strategic Guidance
Speaking at the Employee Conference, Mr. Huynh Kim Nhut, Deputy General Director of VRG and Chairman of the Vietnam Rubber Group Trade Union, praised Thuan An Wood’s resilience and adaptability in 2023. He emphasized the company’s success in both meeting performance targets and improving employee welfare.
Mr. Nhut also highlighted the nine strategic solutions proposed by the company’s management to maintain sustainable growth in 2024, noting that:
“Vietnam’s wood exports are showing positive signs of recovery in early 2024 — a good signal for both Thuan An Wood and VRG’s timber sector. I encourage the company to continue expanding its customer base, modernize production processes, and invest selectively in new machinery and technologies to boost productivity, improve quality, and reduce labor and material costs. This will ensure stable employment and enhance workers’ living standards.”
Recognitions and Awards
At the conference, VRG leaders presented:
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Certificates of Merit to outstanding teams of Thuan An Wood for 2023.
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Vietnam Rubber Industry Medals to 12 individuals for their contributions.
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A Commemorative Medal from the Ministry of Home Affairs to Ms. Le Thi Xuyen, General Director, and Ms. Nguyen Thi Phuong Anh, Chairwoman of the Company’s Trade Union.
Outlook
With a clear strategic vision, effective management, and commitment to sustainable growth, Thuan An Wood Processing JSC continues to strengthen its position as one of VRG’s leading non-rubber manufacturing subsidiaries — contributing to the group’s overall diversification, export resilience, and socio-economic impact.