Johnson Wood Joint Stock Company (Vietnam)

The subject specializes in manufacturing wooden furniture. The materials for production are imported from the USA, China, Taiwan, Malaysia. 100% its products are exported to the USA.As shared by the accounting department, currently, JUMPER HOLDINGS COMPANY LIMITED, GRAND FUTURE INTERNATIONAL CO.,LTD, and Mr. CHANG CHUNG PING are the subject's shareholders. Due to the orders decrease, total staff has reduced from 2660 in 2022 to 2215 in 2023.According to the general information of the industry, Vietnamese wood and wooden furniture enterprises have been facing many difficulties as export orders have dropped 50-60% since the beginning of this year, pushing firms to cut off at least half of their production capacities. According to wood exporters, the export orders from the USA market have decreased between 50% and 55% depending on the type of wood products. Meanwhile, orders from the EU - another key export market, also dropped by 60%. Around the beginning of 2024, the market would be less difficult, and businesses would have export orders again. Still, only small ones, forecasting that the market would likely recover at the end of 2024. However, the recovery growth would depend on the world's economic and political situation.