Duc Giang Lao Cai Chemicals Limited Company. (Vietnam)

The subject is a subsidiary of DUCGIANG CHEMICALS GROUP JOINT STOCK COMPANY. The subject has a combination of factories such as phosphorus factory, fertilizer factory, extracted phosphoric acid factory, food phosphoric acid factory… About 70% of its products are exported to foreign markets.According to the chief accountant, the subject mostly imports materials from China so its business activities met difficulties in 2022 when the Chinese Government issued its strict zero-COVID policies. However, the company also received many preferential policies from the Vietnamese Government so it still reached huge revenue of VND 12.7 trillion in 2022. Notably, net income made up 41% of the turnover, meaning it had high business performance. However, this year, product prices decreased, so the business results were not as good as last year. In the first 8 months of 2023, the company obtained VND 6,021 billion in net sales and VND 1,878 billion in profit before tax, and the target revenue and profit for the whole of 2023 will be VND 9,000 billion and VND 2,800 billion, respectively; decreased significantly compared to 2022.