Ha Tinh Lottery Company was established in 1993. In October 2007, it was transformed into a one-member LLC, owned by the People's Committee of Ha Tinh province. However, from 2018 to 2023, the company suffered continuous losses, with accumulated losses up to now reaching more than 6.1 billion VND. This figure is revealing many limitations of the enterprise, besides, it also shows the reality of lottery activities in Ha Tinh.
For many years, Ha Tinh Lottery One Member Co., Ltd. has continuously suffered business losses .
In 2023 alone, the loss was more than 698 million VND, increasing the accumulated loss to more than 6.1 billion VND, more than 50% of the investment capital. Along with that is the long-standing tax arrears, up to more than 3.5 billion VND by 2023. There are many reasons for this situation. First of all, the lottery problem, the lottery market share is being competed by the computer lottery and online lottery. Meanwhile, in Ha Tinh, the majority of people do not have the habit of buying lottery tickets.
People are still indifferent to buying lottery tickets.
These are also facts that reveal the lack of flexibility of Ha Tinh Lottery Company, especially in expanding market share. Currently, lottery tickets are only issued in urban areas of 11/13 localities, but have not yet exploited all rural areas in the whole province. However, the core leading to the loss situation is still due to the high level of many operating costs of the company. In 2023, the cost of paying prizes and direct issuance costs accounted for more than 67% of ticket sales revenue. Notably, the cost of business management was more than 3.2 billion VND, accounting for 12.1% of revenue, of which a significant part was spent on entertaining guests, meetings, etc., showing a financial imbalance.
Recently, the Provincial People's Committee issued a Decision approving the financial recovery plan of Ha Tinh Lottery One Member Co., Ltd. In which, 4 groups of solutions have been proposed. The focus is on reducing operating costs, increasing revenue by expanding market share, promoting, advertising, and marketing so that people understand that lottery activities are "beneficial to the country, beneficial to the family", the target by 2025 is to reach 29.3 billion VND in revenue, with a profit of more than 110 million VND.
Hopefully, the implementation of the financial recovery plan approved by the Provincial People's Committee will help the company overcome this difficult period, so that lottery activities can truly "benefit the country and the people" and contribute to socio-economic development.
According to Nguyen Hang, Manh Thuc, Tran Vu
Source: https://hatinhtv.vn/tin-bai/kinh-te/phia-sau-khoan-lo-cua-cong-ty-xo-so-kien-thiet-ha-tinh
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