Rang Dong results prove high tech helps raise value - State President
Vietnam's Rang Dong Light Source and Vacuum Flask Joint Stock Company, which has posted positive earnings growth in the past three decades, has overcome recent difficulties brought by the COVID-19 pandemic, State President Nguyen Xuan Phuc heard during a visit to the company in late October.
"The effort made by Rang Dong Light Source and Vacuum Flask Company and its achieved results have proven that only high tech can help businesses attain high added value," President Nguyen Xuan Phuc said during the visit on October 27, part of his tour of Hanoi's typical businesses led by elderly entrepreneurs.
Rang Dong, led by General Director Nguyen Doan Thang, aged 78, has achieved overall positive growth for 32 consecutive years.
The company, Vietnam’s leading manufacturer of LED and vacuum flask products, posted annual revenue growth of 12.8 percent in January-September 2021 to 3.45 trillion dongs, and its net profit rose 11.8 percent in the same period to 232 billion dongs. Exports made a significant surge of 47 percent in the period.
The results so far this year extended Rang Dong's positive results in 2020, when its annual after-tax profit surged 168.5 percent from the previous year to VND 336 billion dongs, based on the company's financial report.
Given the strong performance and its profit growth this year, Rang Dong was ranked among the "Top 50 Vietnam Best Profitable" enterprises by Vietnam Report, a Vietnamese company providing reports, evaluation, and ranking of businesses, products, and services in Vietnam.
The ranking was announced in October 2021.
Rang Dong has also been holding a position among Vietnam's Top 500 Most Profitable Companies every year since 2017 when VNR began tracking corporate profit-making performance.
President Nguyen Xuan Phuc (right) hands a present to Mr. Nguyen Doan Thang, Rang Dong's Party Committee Secretary and General Director (second from left) during the October 27 visit to the Hanoi-based company.
Even though the COVID-19 pandemic has brought many challenges since early 2020, Rang Dong has managed to overcome the difficulties, with no infection cases recorded.
During the fourth wave of the COVID-19 outbreak since late April 2021, the company has effectively kept production and the supply chains running without disruption thanks to its correct assessment of the crisis, introduction of initiatives in production plans, and the application of digital transformation.
Rang Dong has successfully secured jobs for over 2,300 employees, while Vietnam's unemployment rate in the third quarter hit a decade-high of 4.46 percent based on government data.
President Nguyen Xuan Phuc visits a Rang Dong factory.
On November 3, Rang Dong was awarded the title of "The Typical Science-Technology/Innovation Company" joining a discussion, part of an event to launch reports on science, technology and innovation co-hosted by the Ministry of Science and Technology, the Australian Embassy in Vietnam, and the World Bank.
Rang Dong has now been implementing a high-tech products plant project in the Hoa Lac High-Tech Zone outside Hanoi.
The output of the plant, with an investment of VND 2.33 trillion dongs (USD 101.7 million), will include LED products, solutions for lighting systems, and high-tech agriculture.
The project running along Rang Dong's digital transformation reflects the firm commitment to transforming the company established in 1961 into a high-tech corporation, capable of providing high-quality LED lighting solutions at home and abroad.
Should you have any questions or request a quotation of Rang Dong products, please send us an email to: export@rangdong.com.vn.
Websites: en.rangdong.com.vn and vacuumflask.rangdong.com.vn.
