IMPROVE BUSINESS EFFICIENCY OF MATERIALS IMPORT OF ELECTRIC MOTORBIKE AND BICYCLE AT ELECTRICITY BICYCLE MOTORBIKE JSC

IMPROVE BUSINESS EFFICIENCY OF MATERIALS IMPORT OF ELECTRIC MOTORBIKE AND BICYCLE AT ELECTRICITY BICYCLE MOTORBIKE JSC HANOI – 2022 TABLE OF CONTENT INTRODUCTION 1 CHAPTER 1 BASIC THEORY OF IMPROVING.

IMPROVE BUSINESS EFFICIENCY OF MATERIALS IMPORT OF ELECTRIC MOTORBIKE AND BICYCLE AT ELECTRICITY BICYCLE MOTORBIKE JSC HANOI – 2022 TABLE OF CONTENT LIST OF ABBREVIATIONS CAGR CBP CBUs COGS EBIT ELEBIKE.,JSC GDP ISA JSC NPAT Compound annual growth rate Customs and Border Patrol Completely Built-Up Cost of goods sold Earnings Before Interest And Taxes Electricity Bicycle Motorbike Company Gross domestic product Importer Self-Assessment Program Joint Stock Company Net Profit After Taxes Joint Stock LIST OF TABLE LIST OF FIGURE INTRODUCTION Rationale of the Research These days, globalization and economic integration bring not only new business opportunities for enterprises but also threats to the development of Vietnam's economy in general and the existence of enterprises, in particular Vietnam belongs to the system of developing countries and has been moving to a market economy with open economic policies and strategies to participate in international economic integration Therefore, businesses must face increasingly fierce international competition in the country as well as in the world Export is an indispensable field for any countríe and especially for developing countries such as Vietnam To rapidly grow an economy, a nation needs to promote importation and exportation activities because exportation will boost the domestic economy and importation will ensure the continuous and efficient production process Vietnam's multi-economy import-export activities integrate with the world, and actively participate in an international division of labor Specifically, import activities allow us to quickly learn advanced science and technology serving the development of the country and improving the people's living standards At the same time, imports are also a tool to promote the process of domestic production and consumption to keep up with the general level of labor in the world Through import and export, domestic production has undergone great changes, our labor has become more dynamic, creative and meets the demand for qualifications better In fact, although Vietnam is a country rich in natural resources, Vietnam still cannot guarantee sufficient input materials for domestic production process Once among the smallest economies in Southeast Asia, Vietnam has now emerged as one of the world’s fastest-growing markets Currently, the country is the EU’s 16th largest trade partner and the second-largest trade partner within ASEAN Vietnam is also China’s sixth-largest trading partner and in the first half of 2020, was the second-largest exporter to the US With foreign investors showing significant interest in Vietnam, it is important for them to clearly understand the country’s import and export procedures (Nguyen, 2021) Understanding this situation, Electricity Bicycle Motorbike Joint Stock Company has focused on importing raw materials and manufacturing electric motobike, and other motor vehicles Survey data of HKbike shows that there are nearly 1,800 electric scooter shops nationwide The number of stores which was closed is 40% each year, but the number of new openings is even higher, up to 60% The market of electric motorbikes of unit 5,000 billion will increase annual, because gasoline-powered motorbikes are gradually slowing down, and the demand of potential customers is increasing According to experts in the transportation industry, in the coming time, there will be many businesses involved in the production and assembly of electric bicycles because the cost of an electric bicycle assembly line is not large, only a few hundred million dongs, so many businesses can afford to invest, especially after Circular 41/2013/TT - BGTVT of the Ministry of Transport, which regulates the quality and safety inspection of electric bicycles, takes effect According to this circular, electric bicycles manufactured, assembled domestically and imported must be sample tested according to the procedures corresponding to the national technical regulations Imported vehicles must have import documents issued by customs, register for quality inspection, be granted certificates of technical safety and quality, and have quality stamps affixed before circulation E-bike businesses also believe that, when the provisions of this circular are applied, the market for imported, manufactured and assembled electric bicycles in the country will come into order At that time, it was difficult for smuggled motorbike to exist, and officially imported vehicles were difficult to compete with domestically assembled vehicles because the import tax on CBUs was much higher than importing accessores for assembly This will be a condition for genuine assembled and imported cars manufactured by Electricity Bicycle Motorbike Joint Stock Company to be more competitive in the market For the reason mentioned above, It is urgent to improve business efficiency from importing materials for the production of bicycles and electric motorbikes This issue poses a great challenge not only at the present time but also in the future Currently, many enterprises are still importing equipment and assembling and producing, but the efficiency is not high There are a number of reasons to explain this situation in enterprises, one of which is the weak capacity in the management process of the input material business of the company Electricity Bicycle Motorbike Joint Stock Company is a unit operating in the field of diversified production with all kinds of clean energy products, including the production of Evgo electric motorcycles that are combined with and imported materials from Dynamic Brands - Bosch engine It can be said that, for manufacturing companies like Electricity Bicycle Motorbike Joint Stock Company , the leading factor affecting business results is the import of materials and components during the assembly and production process electric vehicle production However, the company's management process and effective use of resources are still revealing weaknesses These weaknesses are shown in detail and clearly through specific indicators Therefore, it is extremely necessary to find out, research and come up with solutions to improve the efficiency of importing electric vehicle materials of the company Therefore, The topic " Improve business efficiency of materials import of electric motorbike and bicycle at electricity bicycle motorbike JSC " is chosen as the topic of this thesis Research objectives and purpose a Research purpose Research, analyze and evaluate business efficiency from importing electric bicycle and electric motorcycle components at Electricity Bicycle Motorbike Joint Stock Company by calculating indicators From there, recognize the limitations and weaknesses in the management process as well as business activities of the enterprise Based on the shortcomings, making recommendations to help the company improve and improve the business efficiency of importing electric bicycle and electric motorbike components b Research objective - Theoretical basis of improving business efficiency from importing components for production of bicycles and electric motorcycles - Analyze and evaluate the business efficiency of Electricity Bicycle Motorbike Joint Stock Company - Explain the reasons why the company is still limited in the process of optimizing the business efficiency of importing materials for electric vehicle production - Offer some solutions to help the company improve the efficiency of business operations in general and the import of raw materials in particular Object and scope of research - Objects: Business Efficiency of importing electric vehicle materials - Scope: Electricity Bicycle Motorbike Joint Stock Company in the period of 2019-2021 Research Methodology - Information collection: information is collected based on actual data on the business results report of the enterprise during the internship period, the company's annual report and the company's website - Data analysis: A statistical and synthesis method based on information collected from enterprises, thereby analyzing indicators reflecting business performance from the company's import of electric vehicle components company - Compare, compare and synthesize indicators on revenue, expenses, profit, types of revenue and expenses of the enterprise and based on the change of financial indicators to reflect the situation of results business performance of the enterprise Overview The topic includes main chapters: Chapter 1: Basic theory of improving business efficiency at enterprises Chapter 2: Current situation of improving business efficiency of materials import at Electricity Bicycle Motorbike Joint Stock Company Chapter 3: Solution and recommendation to improve business efficiency of Electricity Bicycle Motorbike Joint Stock Company CHAPTER 1: BASIC THEORY OF IMPROVING BUSINESS EFFICIENCY AT ENTERPRISES 1.1 Overview of the import 1.1.1 The concept of import Importing is one of two activities constituting foreign trade; is an inseparable aspect of foreign trade Import can be understood as the buying and selling of goods and services from abroad for domestic demand or for reproduction for profit purposes It shows the dependence of the national economy on the world economy In fact , import is the purchase and sale of goods from economic organizations, foreign companies and conduct consumption of imported goods in the domestic market or re-exported for the purpose of making a profit and connecting production with consumption Import activities contribute to diversification of the market, is the driving force for domestic enterprises to improve techniques, diversifying products, etc., in order to improve the competitiveness of business with foreign goods At the same time import activities It also contributes to improving the position of the enterprise in the whole market and abroad through the purchase and sale of goods, expanding trade relations Besides, the import of goods serves effectively in the economic renewal of the country Importing technology, machinery and equipment advanced technology helps domestic production to quickly develop, accelerate the process of industrialization and modernization of the country Other way, Importing helps consumers have more choices of goods with Quality and price are more and more competitive In addition, import goods Culture is also one of the factors contributing to the expansion of economic relations external relations, enhancing Vietnam's position and prestige in the international arena 1.1.2 Characteristics of import Import markets are very diverse , imports can be carried out from many different markets, based on the comparative advantages of each different country Each country in the world has relatively outstanding advantages in a certain field; enterprises have many opportunities to expand or change their import markets The import of goods from a certain country must be based on many factors such as: foreign trade benefits obtained when importing in that market; market demand for imported goods… This market is also constantly changing, so a thorough and comprehensive study of the import market is the first step for improving the efficiency of import activities Input customers (sourcing); Outputs (customers) of enterprises are very diverse, it is changed according to domestic consumption needs Supply or output customers can be stable, concentrated or diversified depending on the Company's business conditions; and company’s ability to adapt and respond to market demand and supply fluctuations With this feature, businesses can have the opportunity to choose the right business partner to bring the highest profit for their business Payment methods: There are many payment methods in import business between parties such as: payment by letter of credit, collection, money transfer through a representative bank The kind of the payment method is mutually agreed upon by the two parties as specified in the terms of the contract And for payment purpose in import business, hard foreign currencies are often used, mainly dollars Therefore, payment in imports depends greatly on the exchange rate between domestic and foreign currencies Therefore, promote efficiency when using methods As a payment method, importers must first pay attention to monitor and analyze the movements of the exchange rate through different information channels Subject to the influence of the legal system Vietnam and the world: Import activities are activities involving many partners and different nationalities, so they are governed by the legal systems and related procedures of many different countries (the foreign country, partner, host country) Conduct import business activities; Enterprises are obliged to strictly abide by all provisions of laws and procedures: avoid violating the provisions on prohibited import and export goods This legal system affects the results and effectiveness, business results of the enterprise, there will be positive results and effects if the business environment in which all members comply with the law This feature of imports directly affects business results and business performance of enterprises 10 resolutions of the board of directors Information disclosure through the company also complies with relevant regulations applicable to public joint stock companies Implement advanced improvement of the quality management system and Cooperate with the leading foreign partner in electric vehicle engines, which is Bosch The company has always well implemented environmental protection measures, constantly researched, improved, and applied new science and technology in operation and production to better protect the environment In 2021, the Company strictly complied with the provisions of the law, was not penalized for not complying with laws and regulations on environment The company has well implemented the provisions of the law related to employees, ensuring jobs, wages, policies, and other remuneration for employees The company has well implemented the provisions of the law related to employees, ensuring jobs, wages, policies, and other remuneration for employees Maintaining stable growth Electricity Bicycle Motorbike Joint Stock Company always focuses on production and business, ensuring stable revenue growth over the years; maintain market share in core markets; continuously develop new markets and increase exports to foreign countries In 2020, ELEBIKE.,JSC 's total revenue reached more than 5,562 (billion VND) and contributed 260 billion unit to the State budget Continue to develop new industries, transform with green technology Besides traditional industries, ELEBIKE.,JSC always researches and learns about high-tech products and fields, pioneering in clean energy development In 2020, besides clean water and wastewater treatment, biogas, Electricity Bicycle Motorbike Joint Stock Company also expands investment in developing clean energy sources with FreeSolar rooftop solar power products Prioritizing the use of green and renewable energy is a trend not only in the world but also in Vietnam This is even more important, not only in the issue of building a sustainable and environmentally friendly development strategy for the whole economy, but also especially important in the context of the risk of electricity shortage in Vietnam South is still present With this awareness, ELEBIKE.,JSC has identified and 53 provided green and renewable energy products, of which the first is Free Solar rooftop voltage products - an important strategy in the business plan of the Group in the near future Limitations and causes in improving the import efficiency of the Company Through the research, it is possible to realize some shortcomings and limitations that need to be overcome so that Electricity Bicycle Motorbike Joint Stock Company can complete its activities as follows: From the data and analysis of the efficiency The company's business from importing materials to produce electric motorcycles shows that the company's revenue has increased steadily over the years but has not really reached the level set out in the annual financial statements, 1,000 000 000 profit margin on revenue is not high This shows that despite having many advantages in terms of facilities and fixed capital, the company has not been able to promptly adapt to fluctuations in the market need to find solutions to increase revenue, in which priority is given to retail to achieve the highest revenue The level of sales not only shows the position of the company and affirms the Evgo electric vehicle brand, but also serves as a basis for creating jobs for many employees Therefore, the company needs a solution to increase sales of this product Revenue growth shows that the efficiency of using capital and other resources of the enterprise has not really grown strongly This may be due to many reasons, including competition for strong and wellknown brands with customers in Vietnam, the increase in the prices of input goods and services, along with comply with the State's regulations on fire prevention, safety and environmental protection The company needs to have specific solutions to save costs and increase profits The number of employees at the company has increased steadily over the years, while labor productivity has also increased, but the profitability of labor when participating in production and business activities is not high and proves the efficiency of using labor or quality The number of employees recruited into the company is not high Along with the unreasonable allocation and arrangement of labor, the company has not applied appropriate incentive policy solutions to exploit the capacity of employees and increase business efficiency for the company 54 CHAPTER 3: SOLUTION AND RECOMMENDATION TO IMPROVE BUSINESS EFFICIENCY OF ELECTRICITY BICYCLE MOTORBIKE JOINT STOCK COMPANY Development orientation of Electricity Bicycle Motorbike Joint Stock Company 3.1.1 The main goals of the company Aiming at sustainable development in the coming time, the company's leaders have given the following development orientations: Profit target management through Sales, Progress and Cost targets: Actively, flexibly with sales targets, well managed progress, closely managed costs Maintaining stable growth Electricity Bicycle Motorbike Joint Stock Company always focuses on production and business, ensuring stable revenue growth over the years; maintain market share in core markets; continuously develop new markets and increase exports to foreign countries In 2020, ELEBIKE.,JSC 's total revenue reached more than 5,562 (billion VND) and contributed 260 billion unit to the State budget ELEBIKE.,JSC also continuously affirmed its leading position in the household goods industry with the successful acquisition of Toan My, expanding production and distribution of goods to the southern provinces Continue to develop new industries, transform with green technology, especially in Electric Vehicles Besides traditional industries, ELEBIKE.,JSC always researches and learns about high-tech products and fields, pioneering in clean energy development Developing human resources ensuring labor safety in production building a good working environment for employees to develop their capacity, ensuring safety in production work, dedicating to the company and improving professional qualifications of workers Support social community activities committed to stakeholders Bring clean water to the highlands Accompanying the Vietnam Red Cross 55 3.1.2 Medium and long term strategy Continuing the restructuring plan: Creating breakthroughs in potential investment sectors such as water supply, renewable energy and especially in Electric motorbike (Evgo) Expand production and business, improve production capacity Strengthen supervision through internal audit and control activities, reduce financial and operational risks In addition, the Company's short- and medium-term related sustainable development goals and key programs include: Developing high-performance, environmentally friendly products tailored to the needs and capabilities of consumers Applying environmentally friendly technological advances in the production process Creating a dynamic business and production environment, promoting personal capacity development and interpersonal interaction to form a workforce with solid expertise and a spirit of cooperation Enhance and harmonize interests among stakeholders Building a business model that is economically efficient, responsible for the environment, society, and community Solutions to improve business efficiency at Electricity Bicycle Motorbike Joint Stock Company Accounts Receivable Control This is the recommendation of 2019 but has not been improved, so the Internal Audit Committee continues to recommend this issue Receivables at the end of 2020 accounted for 41.75% of the company's total assets, increasing to 1.98% compared to this ratio at the beginning of the year; With the group of 56 indicators on profitability and effective use of capital resources of the Group The corporate governance system is built and implemented in compliance with the provisions of Decree No 155/2020/ND-CP and Circular 116/2020/TT-BTC applied to public companies to ensure the following objectives: accountability, transparency, fairness, independent supervision, orientation and harmonization of interests related parties This is also the communication content/message to investors To carry out communication work, the company needs to set up a specialized department, using information tools according to regulations such as the company's website, the information disclosure channel of the State Securities Commission Ho Chi Minh City Stock Exchange as well as mass communication channels such as newspapers, electronic newspapers, radio and television, organize special events or combine to convey messages to the public investors and stakeholders Work has been and is being performed: Carrying out activities to ensure the rights and interests of investors such as paying dividends in accordance with regulations and resolutions of the General Meeting of Shareholders, making and registering list of shareholders attending the General Meeting of Shareholders, summarizing information on the company's monthly operations and business results, compiling and publishing the Annual Report, the Company's corporate governance report Information and materials that introduce and update the company and SHI shares are made available to stakeholders and the investment community; provide timely information to shareholders and investors about the company's business situation; Carry out the procedures related to the procedures for issuing shares to pay dividends and the exercise of shareholders' rights; Receive and answer questions or requests from shareholders and investors; organize irregular and periodic meetings with investors; building relationships and working with analysis units, stockbrokers; Supervising and monitoring the posting and reporting of SHI company and shares on the media, including securities communication channels, ensuring the information is accurate and updated regularly; Managing the "Shareholders & Investors" section on the company's website, ensuring information is updated regularly and accurately; preside over the preparation of the monthly Investor Newsletter; manage and lead the communication with shareholders and investors through communication channels Diversify sources of raw materials imported 57 The company's corporate governance reports for two consecutive years, 2019, 2020 were included in the list of comments "Vote for Listed Enterprises of the Year" in a group of small-cap companies The company must have a plan to control costs With the particularity that the company produces large input prices, it requires businesses to diversify sources of raw materials, suitable price quality, and reduce costs expense In 2020, the rate of COGS increase is higher than the growth rate of specific revenue, revenue increased by 11.5%, but COGS increased by 12.6%, thus affecting the profit target Reducing costs will create a breakthrough in more sustainable profits With the cost of business management in 2020: in general, the Group has proposed and implemented solutions to save costs Personnel Management However, Salary costs still increased quite high, so the Internal Audit Committee still recommends continuing to review the personnel structure, have a clear personnel evaluation system, assign responsibilities and evaluate work on the following criteria: Quantitative, especially for the executive board, who play the role of guiding the success of the business There is a plan to restructure sources In the capital structure of the Company in the consolidated financial statements, liabilities are always high compared to equity As of December 31, 2020, liabilities were 2.4 times more than equity, of which short-term debt accounted for 93.3% of liabilities, showing that the Company's operations are highly dependent on bank loans goods, mainly short-term loans This raises the issue of liquidity risk, the risk of ensuring stable long-term working capital for the Company and increasing financial costs The Internal Audit Committee requested the Board of Directors to pay attention to this issue during its operation The Board of Internal Audit believes that the recommendations in 2019 of the Supervisory Board to the Company have not been significantly improved Recommendations on governance in 2020, the company has built a decentralized system that has taken the first step in concretizing the functions and tasks of the senior management board and heads of divisions to ensure proper operation orient and control specific work for each employee The Internal Audit Committee recommends building a KPI evaluation system; The requirements for the effective KPI system are: clear and easy to understand, regularly updated and close to the daily work of each position; 58 Human resource assessment must take place at least once a year to improve the level of departments, especially the support department, which does not follow the sales of the business The corporate governance system is built and implemented in compliance with the provisions of Decree No 155/2020/ND-CP and Circular 116/2020/TTBTC applicable to public companies to ensure the following requirements: Objectives: accountability, transparency, fairness, independent monitoring, orientation and harmonization of stakeholders' interests This is also the communication content/message to investors To carry out communication work, the company has set up a specialized department, using information tools according to regulations such as the company's website, the information disclosure channel of the State Securities Commission , Ho Chi Minh City Stock Exchange as well as mass communication channels such as newspapers, electronic newspapers, radio and television, organize special events or combine to convey messages to the public investors and stakeholders Work has been and is being performed: Carrying out activities to ensure the rights and interests of investors such as paying dividends in accordance with regulations and resolutions of the General Meeting of Shareholders, making and registering list of shareholders attending the General Meeting of Shareholders, summarizing information on the company's monthly operations and business results, compiling and publishing the Annual Report, the Company's corporate governance report company Information and materials that introduce and update the company and SHI shares are made available to stakeholders and the investment community; provide timely information to shareholders and investors about the company's business situation; Carry out the procedures related to the procedures for issuing shares to pay dividends and the exercise of shareholders' rights; Receive and answer questions or requests from shareholders and investors; organize irregular and periodic meetings with investors; building relationships and working with analysis units, stockbrokers; Supervising and monitoring the posting and reporting of SHI company and shares on the media, including securities communication channels, ensuring the information is accurate and updated regularly; Managing the "Shareholders & Investors" section on the company's website, ensuring information is updated regularly and accurately; preside over the preparation of the monthly Investor Newsletter; manage and lead the communication with shareholders and investors through communication 59 channels The company's corporate governance reports for two consecutive years, 2019, 2020 were included in the list of comments "Vote for Listed Enterprises of the Year" for small-cap companies Other pratices to boost Import Efficeiency in Electricity Bicycle Motorbike Joint Stock Company Periodically review and analyze all import data to look for supply chain opportunities Using an analytical process, importers can look for ways to reduce duties by sourcing in countries subject to favorable free-trade agreements such as NAFTA Importers also should analyze transportation modes to make sure requirements are being met Identifying ways to reduce costs in the supply chain is a competitive advantage Work with a customs broker to create a paperless entry process that uses Electronic Data Interchange feeds Managing information sent by multiple vendors can be a difficult task Feeding all the necessary information through a customs broker, however, expedites entry processing and ensures accuracy It is essential to provider brokers with a database of imported items complete with item or part number, a detailed description of the item or product, and the appropriate Harmonized Tariff System United States classification number Brokers use this information to make accurate classification declarations to Customs and Border Patrol (CBP) on your behalf Centralize processing for nationwide entries using Remote Location Filing This results in consistent processing regardless of port, offers a single point of contact for customer service, and mitigates compliance risks Conduct a compliance assessment to identify areas of possible risk The assessment should focus on the same areas that a CBP assessment would concentrate on Failure to comply with CBP is costly and can offer future ramifications for company's supply chain, possibly triggering CBP to regularly conduct inspections of company's shipments Join Customs-Trade Partnership Against Terrorism, which offers optional entrance in CBP's Importer Self-Assessment (ISA) program Both programs will identify company as a low-risk importer, which reduces customs exams, 60 increases paperless entry response from CBP, and speeds compay’s product to market Participating in ISA allows company to identify and correct errors instead of being subjected to the scrutiny of CBP audits, and being held liable for potential penalty actions Implementing best practices in company's import program helps avoid unnecessary delays, keeps enterprise’s supply chain running smoothly, and increases enterprise’s efficiency in delivering goods to customers It is also a great opportunity to ensure that company complies with CBP regulations, and to prepare for future changes in security measures and regulations 61 CONCLUSION Importing is a business field that has been encouraged by the State to develop with the aim of economic development, to strengthen international economic relations, to renew machinery, equipment and technology, step by step and approach and integrate with the regional and world economy During its operation, Electricity Bicycle Motorbike Joint Stock Company is gradually perfecting and improving the efficiency of its business of importing materials for electric vehicle production to fulfill its economic mission and production and business activities with high-end segment electric vehicles Through the analysis of the company's business activities in general and the import situation in particular, the advantages and difficulties the company is facing in the electric vehicle manufacturing industry in the period of 2019-2021 have been seen This graduate thesis has mentioned the current state of business performance and the theoretical system related to business performance assessment of raw material import activities, thereby making appropriate recommendations to help the industry company to improve and improve efficiency I hope that with the measures and recommendations that have been given, there will be a part in improving business efficiency in the import activities of Electricity Bicycle Motorbike Joint Stock Company I hope to receive the participation of teachers to contribute ideas to improve this topic 62 REFERENCE LIST A.Posner, R (1977) 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" is chosen as the topic of this... general and the import of raw materials in particular Object and scope of research - Objects: Business Efficiency of importing electric vehicle materials - Scope: Electricity Bicycle Motorbike. .. improving business efficiency is to improve the ability to survive and develop of each enterprise 33 CHAPTER 2: CURRENT SITUATION OF IMPROVING BUSINESS EFFICIENCY OF MATERIALS IMPORT AT ELECTRICITY BICYCLE