Viet Nam Smart Wood Joint Stock Company (Vietnam)

The subject was established in 2015 in Ha Noi City, Vietnam. Formerly, its trading products included wood pellets and film-faced plywood. Since 2019, the subject has quit selling film-faced plywood because its profit margin was low, and it had to cope with the hassle of collecting money from customers. Now, the subject only focuses on trading wood pellets. According to Ms. Nguyen Lan Anh, chief accountant, about 99% of the subject's products are exported to South Korea to serve as fuel for thermal plants and an ingredient of cattle manure fertilizer. In recent times, it has also been exported to Japan.As shared, the subject's major consumption market is still South Korea, meanwhile, this year, the thermal power plant in this country had to be maintained for about one month, so the subject's output was reduced to below 25,000 - 30,000 tons per month level. In addition, due to the negative influences of the post-Covid economic recession, product prices this year also decreased. As a result, total sales are only expected to reach about VND 700 billion – VND 800 billion.However, along with the decline in product prices, the costs of goods sold also decreased correspondingly. Besides, this year's sea freight prices fell significantly compared to last year. Therefore, although revenue went down, the company still maintained a profit level similar to last year, Ms. Lan Anh said.Please note that, formerly, the subject invested capital in LAM GIANG WOOD PROCESSING JOINT STOCK COMPANY, yet this company stopped its operations and closed its tax code.