Thien Long shoots for the stars with expansion into medical sector

Thien Long Group aims to gain a revenue of VND10 trillion ($434.78 million) by 2025

At its 2021 annual general shareholders' meeting (AGM) on June 29, Thien Long set the target of VND3 trillion ($130.43 million) in net revenue and VND280 billion ($12.17 million) in after-tax profit, up 12 and 17 per cent, respectively, compared to last year. The plan is made on the assumption that students will go to school without interruptions and the market recovers.

Furthermore, the group also set a revenue target of VND10 trillion by 2025. The target involves promoting the development of its core products, the cooperation with new partners such as Kinh Do and Nutifood, and participating in the field of manufacturing-related medical equipment.

Co Gia Tho, chairman of Thien Long Group stated that the group has worked with Med Life on the supply of medical equipment. “We have produced a pen that can draw on the skin or a marker pen for cosmetic surgery. This is a very potential field and the company is hatching a plan to produce other plastic operating room medical equipment,” added Tho.

Thien Long also aims to become a parent company to manage and coordinate its subsidiaries. Accordingly, Thien Long will transfer the entire stationery factory project in Tan Tao Industrial Park (Binh Tan District, Ho Chi Minh City) to a subsidiary that will be 100 per cent owned by Thien Long with an expected charter capital of VND600 billion ($26.1 million).

Besides, the expansion of the Thien Long Long Thanh factory will also be built from 2022, with a floor area of 8,000 square metres and a construction area of 40,000sq.m.

In 2020, Thien Long recorded a net revenue of VND2.68 trillion ($116.5 million) and after-tax profit of VND239.8 billion ($10.43 million), decreasing 17.5 and 31.5 per cent compared to 2019. Also, the equity dropped from VND1.8 trillion ($78.3 million) to VND1.75 trillion ($76.1 million).