On the afternoon of April 27, the Thien Long Group Corporation was honored to be named in the FAST500 Ranking at the Ceremony of Honoring the Top 500 Fastest Growing Enterprises in Vietnam, which took place at the Sheraton Hotel in Hanoi.

The ranking results were announced in the first quarter of 2021 and were based on the business results of companies from 2016 to 2019, with a reference to their business results in 2020.

Representative of Thien Long Group to receive the certificate of the program

FAST500 is an annual ranking published based on independent and objective research and evaluation results according to international standards by Vietnam Report, with the advice of experts and advisory boards at home and abroad.

The purpose of the FAST500 is to find, honor, and promote businesses with the fastest revenue growth, along with good and stable production and business efficiency. It is a high-class playground for leading businesses and entrepreneurs, Vietnam’s leading brand, and a bridge to bring Vietnamese brands to the world market.

Thien Long Group was honored to be named alongside large enterprises in the fields of Banking, Real Estate Business, Insurance, Postal-Delivery, such as Viettel Post Corporation, Aviva Vietnam Life Insurance Company Limited, JSC Ecopark Group, and Chubb Vietnam Life Insurance Company Limited.

Being listed in this year’s FAST500 Ranking is a special milestone for Thien Long, as 2021 also marks four decades of establishment and continuous development of the Group.

Previously in 2020, Thien Long set a revenue target of VND 2,800 billion, profit after tax of VND 220 billion, equivalent to 86.1% and 63% of 2019 performance, respectively. The business has achieved 95.8% of the revenue plan and exceeded the target of profit after tax for the whole year.

According to Thien Long’s leaders, in 2020, Thien Long’s operations and business activities were affected by COVID-19, especially in the first 6 months of the year. However, the company proactively implemented a number of measures to mitigate these effects. Specifically, Thien Long changed its distribution structure for products with low profit margins. As a result, the gross profit margin in 2020 increased compared to the average of the last 3 years, reaching 38.4%.

The company has also actively reduced operating expenses, administrative expenses, and selling expenses while focusing on communication activities and restructuring the organization to be more streamlined.

Thien Long recently also announced the financial statements for the first quarter of 2021 with positive revenue and profit compared to the same period. Specifically, net revenue in the period reached nearly VND 680 billion, up 45.3% over the same period, cost of goods sold increased less than the increase of net revenue, so gross profit reached more than VND 285 billion, 2 times higher than that of the same period last year. with the first quarter of 2020. Gross profit margin reached 42% compared to 29% in the same period due to changes in distribution structure for low-margin products and promotion of sales of high-margin product groups. After deducting expenses, Thien Long’s profit after tax was nearly 85 billion dong while the same period lost nearly 20 billion dong. Thien Long said that due to the situation of the Covid-19 epidemic being well controlled compared to the time of the first quarter of 2020, students are currently attending school stably, the market gradually recovered and returned to normal. The first quarter of 2021 has achieved very positive results.

With the advantage of its brand name and advanced production technology, Thien Long is constantly expanding into international markets, bringing the Vietnamese brand to many regions and countries around the world. These achievements demonstrate Thien Long’s continuous efforts over the years to increasingly assert its position in both the domestic and international markets.

Now, at the 40-year milestone, as it moves towards digital transformation, Thien Long understands that its role is not only limited to manufacturing and supplying a variety of stationery items for learning and teaching, but that it needs to be enhanced by many new factors that contribute to solving current concerns such as health and safety and environmental protection.

Not only is Thien Long known for its production and trade activities, but it has also left a deep impression in the hearts of many generations of Vietnamese consumers with its image as a brand that always accompanies and is closely associated with the development of the education system in the country.

At this special milestone, marking 40 years of dedication to the domestic economy and education, and entering the 4.0 Era – an era shaped by new foundations for people to approach knowledge and importance – Thien Long Group officially opens the “New Era of Knowledge Power”. This is an era in which education not only provides general knowledge but also brings practical experience and comprehensively develops individuals, from moral values and soft skills to self-control in all aspects, especially in the period of international integration for the next generation of young intellectuals.

In this 4.0 era and in the journey ahead, Thien Long still firmly believes that knowledge is the universal key that can decipher all difficult problems and constant challenges for people.

Looking at the global economic picture in 2020, it can be said that not only Thien Long but also Vietnamese businesses have achieved a “miracle” that many countries admire. Vietnam is among the few countries in the world that maintained positive growth, becoming the 4th largest economy in Southeast Asia and one of the 16 most successful emerging economies in the world. The continuous efforts of Vietnamese businesses are opening up new opportunities and writing new pages in the country’s economic history.