“Riding the Crest of Success: Scaling New Heights Together”

United in Spirit, Rising to New Heights

The industry giant’s 2024 Distributor and Customer Conference, held in Thailand in mid-June, emphasized the message of “United in Spirit, Rising to New Heights.” This message resonated with distributors and customers alike, especially given the ongoing challenges in the macroeconomic environment.

The first international conference for Thien Long Group’s customers, with over 1,000 distributors and customers in attendance.

Thien Long’s senior leaders candidly acknowledged the “large waves” that office supplies businesses face, including objective economic fluctuations affecting purchasing power and competition from foreign rivals.

“Change for Growth” was the overarching theme emphasized by Thien Long. They asserted that in an industry with diverse products serving multiple consumer segments and intense competition, like the stationery industry, Vietnamese businesses must continuously adapt. Nonetheless, citing research from BlueWeave Consulting, Thien Long representatives projected significant growth potential for the market, forecasting industry revenue to reach $512.4 million by 2027, with a CAGR of 6.2%.

Ms. Tran Phuong Nga, CEO of Thien Long Group, believes the new vision will be a growth driver for the entire corporation.

Regarding their business strategy, the group is making comprehensive investments to accelerate growth based on several foundations: a new vision for the 2023-2027 period, a focus on research and development of new products, and a new business orientation.

Thien Long Group’s powerful message: Embrace change to achieve growth.

At their first international conference, Thien Long showcased their diverse ecosystem of products, which are leading industry trends, and received significant attention from customers.

In addition to sharing growth opportunities and introducing their diverse range of products, the group also offered customers luxurious travel experiences and fascinating cultural exploration opportunities in Thailand. During this event, Thien Long expressed gratitude to long-standing customers, those with significant growth in the past three months, and outstanding employees.

Thien Long recognizes and rewards outstanding employees.

Ms. Nguyen Thi Hong Nhung, representing Le Vinh Distributor, shared, “Le Vinh Distributor has been partnering with Thien Long for 25 years, experiencing both joys and challenges. The event in Thailand was a memorable occasion for Thien Long, distributors, and customers to bond, unite, and strengthen our belief in growth as we navigate through difficulties.”

Thien Long expresses gratitude to distributors and customers for their long-standing partnership.

The in-depth activities in Thailand fostered a strong sense of connection. The bond between Thien Long, distributors, and customers went beyond mere business partnerships, evolving into a familial relationship, united in spirit to rise to new heights.

Thien Long customers immerse themselves in Thai culture.

Poised for a Return to Growth

Thien Long boasts a robust distribution system with 128 distributors and over 55,000 sales outlets nationwide. With the support of its distributors and customers, Thien Long has established itself as the market leader in Vietnam.

Despite economic challenges, Thien Long’s business performance in the first five months of the year showed positive signs. In their periodic report to shareholders, the group disclosed that they are narrowing the revenue decline for the first five months of 2024 to 7% compared to the same period in 2023 (a decrease of 11% in the first four months of 2024), reaching VND 1,430 billion and achieving 38% of the annual target approved by the Annual General Meeting of Shareholders. Profit after tax increased by 10% over the same period to VND 183 billion, fulfilling 48% of the annual plan.

These positive signs in the first six months provide a favorable impetus for Thien Long to enter the peak season for sales – the 2024-2025 school year. The group is focused on achieving its 2024 targets: revenue of VND 3,800 billion and profit after tax of VND 380 billion.