HANDICRAFT AND ART ARTICLES EXPORT-IMPORT CORPORATION

The subject was founded in 1964 as a State-owned company and changed to a joint stock company in 2005. The company participates in some business fields but mainly focuses on trading, and importing and exporting kinds of goods such as handicrafts, construction materials, furniture, consumer goods, agricultural products… After nearly 50 years of establishment and development, the company has had business relationships with many customers and partners around the world. Its markets have been expanded to many countries and territories across continents including Asia, Europe, America, Australia, and Africa. Based on the financial data, its revenue tended to decrease in 2022 but remained huge at over VND 12 trillion. In the last years, COGS usually made up 99% of net sales, resulting in a thin gross profit. Accordingly, net income was not commensurate with sales.