A DONG ADG CORPORATION

A DONG ADG CORPORATION (CÔNG TY CỔ PHẦN Á ĐÔNG ADG) has emerged as one of Vietnam’s most active players in the specialized plastics and materials trading sector. Founded in 2009 and registered under Business ID 0308113486, the company is headquartered at No. 36/72 Nguyen Gia Tri Street, Binh Thanh District, Ho Chi Minh City. It operates primarily in the wholesale of plastic resins but has diversified into construction, transportation logistics, and warehousing services. With a workforce of 200 employees and more than 16 years in operation, the company leverages its private joint stock structure to maintain operational flexibility and strategic focus.

The company’s financial performance in 2023 shows impressive top-line growth: revenue reached USD 317.71 million, up 17.51% year-over-year, with profit rebounding from a major loss in 2022 to USD 765,839—a 109.76% improvement. However, a deeper financial risk assessment reveals vulnerabilities. While revenue grew and profit returned, total assets actually declined by 5.75%, and owner’s equity remains modest at USD 12.85 million. Working capital surged by over 400%, signaling short-term liquidity recovery, yet the company’s net worth remains below USD 6 million, which is small relative to its revenue scale. The volatility in previous years—especially the USD 7.84 million loss in 2022—raises concerns about earnings sustainability, cost control, and risk exposure in fast-moving commodities like plastic resins.

A DONG ADG CORPORATION is led by Chairman cum General Director Mr. Ho Hoang Bao Vinh, who also controls 65% of company shares. Other key shareholders include Ms. Tran Thi Thuy (24.03%)—also the company’s Vice General Director and Chief Accountant. This concentrated ownership structure grants decision-making power to a tight leadership circle, which supports agile responses but may raise governance and transparency concerns for partners and lenders. For credit insurers, trade partners, and investors, Vanguard Business Information LLC (VBI) provides a detailed company report on A Dong ADG, including full financial trends, capital structure, and operational risk signals.