The world economic in 2022 has many fluctuations and challenges due to global instability, supply chain disruption due to the Russia-Ukraine war and strict Covid19 prevention in China; The US Federal Reserve (Fed) continuously increased interest rates; inflation increased, exchange rate fluctuated accompanies recession in many economies, especially in Europe and the US; especially, CP prices fluctuated unpredictably as details: at the beginning of the year increased very high, then decreased sharply for many months,... Besides, the cost of production and business activities increased due to fluctuations in the USD/VND exchange rate. , inventories of customers led to many difficulties in collecting receivables, which significantly affected the production and business activities of the Company.
To overcome the above difficulties, GAS SOUTH's Board of Directors and all the staff have utilized the solidarity, bravery, intelligence, creativity, proactively developing scenarios, organizing the implementation of decisions, synchronous and effective solutions to deal with unpredictable impacts and fluctuations of the market and have achieved great results, completing most of the production and business targets that have been approved by the General Meeting of Shareholders, especially the target of pre-tax profit reached 124.1 billion dong, 28.5% higher than the year plan and the target of total revenue reached 7,041 billion dong, 14.7% higher than expected.
Entering 2023, the world economy is forecasted to face many difficulties on the basis of uncertain factors from 2022. Consequently, the global supply chain continues to be disrupted, commodity prices will increase, from the price of energy, to other goods, etc., affecting the production and business activities of the Company.
Identifying the difficulties, challenges and disadvantages in the business environment, GAS SOUTH's Board of Directors proactively set out the main mission in 2023 as follows:
1. Ensuring security and safety in all production and business activities.
2. Focusing on stabilizing the LPG retail market, increasing brand awareness among consumers.
3. Focus on producing cylinders to ensure quality and progress to meet customers' needs, and also find new customers in Vietnam and foreign countries to effectively exploit the gas cylinder factory.
4. Prepare infrastructure for LNG products to supply the market demand, ensuring high efficiency as soon as LNG is imported to Vietnam.
5. Exploiting and effectively using the system of warehouses, stations, and the gas cylinder factory.
6. Review and reduce costs to increase production and business efficiency throughout the Company.
7. Make a job description for each position. Review units and rearrange working positions to improve labor productivity as well as increase income for employees.
8. Promote digital conversion, apply information technology to production and business activities and standardize equipment at warehouses/stations to suit production and business activities of the Company.
Besides actively implementing the above tasks, with the solidarity of GAS SOUTH's staff, with the support and trust of partners, customers and shareholders, along with prioritizing digital conversion in 2023, GAS SOUTH believes that it will achieve outstanding efficiency in production and business activities to bring benefits to shareholders and improve the living for the staff.
Sincerely thank you for accompanying GAS SOUTH in the past and looking forward to continuing to receive your support in the near future, I would like to send you and your family best wishes for HEALTH - HAPPINESS - SUCCESS.
Best regards!
