Nguyet Anh Joint Stock Company (Vietnam)

NGUYET ANH JSC is a manufacturer and supplier of wood chips and wood pellets in Binh Dinh Province, Vietnam. In an interview with the Chief Accountant, we are shared that about 95% of its output is directly exported overseas. Materials for production are collected from local sources, and besides products manufactured by itself, the company purchases from related companies and other domestic manufacturers serving its trade and export activities that was also the main reason for impressive revenue growth since 2020, said the Chief Accountant. As revealed, it purchases wood chips from suppliers in Quang Ninh and Thanh Hoa Provinces to export to China, and wood pellets from suppliers in Thua Thien Hue Province to export to Japan and South Korea. However, since early this year, the tax refund policy (for trading goods) has become more complicated and difficult, therefore, the subject has changed to do entrust export activity (instead of purchasing goods from other units and exporting) and to receive trust fee, the revenue has clearly declined accordingly. For the first 10 months of this year, its turnover is estimated at more than VND 800 billion (below 50% of total revenue last year), added the Chief Accountant. In addition, the economic recession has also impacted the order situation, which has had a slowdown, contributing to the revenue depression as well.The subject is running a factory in Thiet Dinh Industrial Cluster with a designed capacity of 72,000 tons of wood pellets and 120,000 tons of wood chips per year as a revelation from the female Chief Accountant. Noticeably, since Jul 2022, it has been approved the investment policy for another wood pellet factory in Phu Cat District, Binh Dinh Province with a designed capacity of 70,000 tons per year as well. The total registered investment capital for this new project is VND 115 billion, of which the paid-up capital from the investor is VND 40 billion. To serve this investment, the company has raised its charter capital from VND 110 billion to VND 150 billion since Feb 2023, added she. The construction was started in the 3rd quarter of last year and it is expected to be put into operation in the 1st quarter of next year. The production line will be imported from Germany.