ANNUAL REPORT 2024
TOGETHER IN BELIEF, LEADING IN INNOVATION
022
023
Corporate milestone
Successfully completed the nationwide distribution network expansion plan. Executed a series of strategic digital transformation initiatives, including establishing a digital office environment, upgrading to the SAP S4/HANA system, and developing an advanced data warehouse. 2022 STRENGTHENING CAPABILITIES AND EMBRACING DIGITAL TRANSFORMATION
2014
RESTRUCTURING AND ACCELERATING GROWTH
Transitioned to a joint-stock company model with charter capital reaching VND 240 billion. Expanded the production area to 70,000m² and offered a collection of 800 wood colors. Achieved CQ and Green Label certifications. During this year, revenue increased by 1.5 times, while net profit grew nearly fourfold. 2015 BREAKING THROUGH THE TRILLION-VND REVENUE MILESTONE 2016 Secured strategic investments from Whitlam Holding Pte. Ltd. and Sumitomo Forestry Singapore Ltd., Achieved revenue exceeding VND 1,000 billion, with net profit increasing by over 62%. STRATEGIC INVESTMENT
Over three decades, An Cuong has embodied relentless dedication, groundbreaking innovation, and an unyielding aspiration to conquer new milestones. From the pioneering beginnings, we have forged a proud legacy that continues to elevate Vietnam’s industrial wood industry to remarkable heights. Founded with VND 220 million, the Company specialized in trading industrial wood materials, including MFC, plastic edging, and adhesives. STARTING UP 1994 2006 Years AN CUONG’S 0 FOGRING THE PATH LEADING WITH EXCELLENCE
Strategic Vision Building upon its legacy, An Cuong strives for perfection, continuously enhancing its global presence while contributing to the sustainable development of the industrial wood sector, communities, and society.
2024 30 YEARS OF DRIVING IMPACT AND INNOVATION
Recognized as the leading manufacturer of industrial wood in Vietnam and Southeast Asia, with annual revenue exceeding $200 million. Ranked among the Top 100 Private Enterprises with the Highest Tax Contributions in Vietnam. Honored with numerous prestigious awards, including National Brand, CSI 100, VNR Top 50 Vietnam The Best, Top 10 Leading Building Materials Companies in Vietnam, HR Asia Best Companies to Work for in Asia.... Operated a comprehensive distribution network, featuring 25 flagship showrooms and over 100 dealer showrooms nationwide.
2008
Expanded to 35,000m², the factory incorporated advanced machinery from Germany and Italy, enhancing production capacity and advancing research into interior solutions for the industrial wood sector. SCALING UP OPERATIONS 2009 EXPANDING AND DEVELOPING NEW PRODUCTS Increased charter capital to VND 90 billion, secured exclusive distribution rights for Formica® Laminate, and developed the Melamine board product portfolio, Expanded Melamine and Laminate collections, invested $3 million in state-of-the-art German machinery for high-gloss Acrylic production and edge banding, and commenced exports to Australia, Japan, Singapore, and Malaysia. ELEVATING QUALITY, EXPANDING MARKET PRESENCE 2012
strengthening corporate governance. Net profit margin reached nearly 18%.
2019
EXPANSION & EXPERIENCE INNOVATION
Operated the second factory, increasing the total production and warehouse area to 240,000m². Simultaneously, launched An Cuong One-Stop Shopping Center, the largest showroom in Southeast Asia, laying the foundation for a nationwide distribution expansion plan.
TRANSITIONING TO MANUFACTURING
Established in Binh Duong, the first factory marked a pivotal step, positioning the Company as a leading producer of high-quality MFC boards.
Powered by FlippingBook