The one-time brand name of Diem Thong Nhat is no longer ‘burned’

The one-time brand name of Diem Thong Nhat is no longer ‘burned’

Diem Thong Nhat (UPCoM: DTN) is a very familiar name for many years of many Vietnamese people of the 8x generation or earlier. Thong Nhat Match Brand is associated with the image of matchboxes with the image of a white dove against a peaceful blue sky, a product that makes up the name of the business.

Thong Nhat Match Factory was built and inaugurated in 1956. In 2002, the company changed to operate under the model of JSC; By 2014, the company’s charter capital increased to 22 billion.

The brand “once resounded” went into the past after 63 years

Used to be an indispensable product in every family, but the matchmaking industry has gradually entered a difficult position, losing market share and position over time since the advent of gas lighters. Besides, the export market of matchsticks is also gradually decreasing, old and out-of-the-box machinery and bodhi wood supply become depleted. Nowadays, it is difficult to find United matches at supermarkets or large stores, even the rows of iced tea on the sidewalk no longer see the appearance of this object, perhaps only in a few three old grocery stores along the road.

Diem Thong Nhat has become a brand name that used to be “once echoed” but cannot live well in the present time. Compared to the consumption rate of 180 million bags recently, Thong Nhat Match’s box product in 2019 only reached 70 million bags, down 30% over the same period in 2018 and only reached 91% of the plan. the begin of the year. On average, the output of matches decreases by 20-30% each year.

From 2020, Thong Nhat Match will officially no longer be produced; Company leaders said, this traditional product can only continue to be produced selectively, serving orders for customers in need.

The new direction has not yet brought efficiency, the profit does not exceed 3 billion VND per year

Currently, the company’s activities are mainly related to the sale and manufacture of handy sparkling products rather than lighters. Thong Nhat lighters are expected to “catch up with the times”, but cannot make a breakthrough. The company still struggles to increase its market share while competing with the low-end lighters that have dominated the market for many years.

In addition to the production of Thong Nhat lighters, the Company also provides imported lighters from Malaysia called Thong Nhat – Cricket, mainly consumed through advertising contracts in large quantities. However, the product has not been able to conquer the market because of the high price, it is difficult to compete with imported lighters from China, Thailand.

In addition, the company develops carton packaging production; factory rental services, advertising, commercial business … However, the expansion and diversification of production activities have not brought about high efficiency.

In fact, it has been shown that business profits over the years of Diem Thong Nhat gradually go down. The revenue over the years has had a slight growth, but it is worth noting that the profit has decreased significantly. The revenue of Diem Thong Nhat in recent years has reached about 100 billion VND while the after-tax profit is only around the threshold of less than 3 billion VND, especially this figure in 2019 does not reach 1 billion VND, through 2020 there is a prospered with the profit of over 1.7 billion dong.

Costs and costs are increasing while the selling price in the market still has to compete with the market of all kinds of fire tools, making the company’s profit margin decline.

In October 2020, DTN shares of the company canceled their registration for trading after 6 years of listing because they no longer meet the conditions for being a public company. Before leaving the floor, DTN shares unexpectedly increased to nearly 63,000 VND / share, the highest price range in history, ending the years of trading on the stock exchange in “splendor”.

The one-time brand name of Diem Thong Nhat is no longer ‘burned’

Plan profit 2 billion, investment 3.6 billion for lighters in 2021

In 2021, Diem Thong Nhat set a revenue target of 115 billion, down 18.3% year-on-year. Although revenue decreases, profit after tax is expected to increase 17.6% compared to the implementation in 2020 to 2 billion VND. Dividends are divided in 2020 at 7%, unchanged from the previous year.

The company aims to produce 22 million lighters by 2021 and import 250,000 Thong Nhat – Cricket lighters directly from Malaysia. Plan 2021 also sets the consumption of matches of all kinds at 41,000 bales.

Diem Thong Nhat plans to invest with a total value of 3.6 billion VND, mainly adding equipment to increase production capacity and improve the quality of lighters.

Source: – Translated by

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