ADVANCE TYRE (VIETNAM) COMPANY LIMITED

ADVANCE TYRE (VIETNAM) COMPANY LIMITED (Công Ty TNHH Lốp Advance Việt Nam) is a foreign-invested enterprise (FDI) specializing in the manufacture of rubber tyres and tubes. Established on March 6, 2019, and legally registered with the Tien Giang Province Department of Planning and Investment under Business ID 1201601651, the company is located at Long Giang Industrial Park, Tan Lap 1 Commune, Tan Phuoc District, Tien Giang Province. It operates as a one-member limited liability company and is wholly owned by Guizhou Advance Tyre Investment Co., Ltd. from China.

Under the leadership of General Director Liu B. and Deputy General Director Fu H. J., the company employs over 1,140 workers. It has rapidly grown into a significant manufacturing base within Vietnam's industrial rubber sector.

The company’s financial performance in 2023 was exceptional, with total assets reaching USD 384.29 million—an increase of 41.9% year-over-year. Sales grew by 118.5%, reaching nearly USD 170 million, marking a significant expansion from the previous year. Most notably, the company moved from consecutive losses in 2021 and 2022 to a profit of USD 32.54 million in 2023, a remarkable turnaround that reflects improved capacity utilization and stronger market positioning. Equity tripled to over USD 161 million, confirming investor confidence and the strength of retained earnings. Working capital remains robust at USD 75.31 million, ensuring liquidity and operational flexibility.

Despite being a relatively new entrant in Vietnam’s manufacturing landscape, ADVANCE TYRE (VIETNAM) has quickly built up scale and profitability. However, given its rapid financial growth following years of losses and the reliance on a single foreign shareholder, Vanguard Business Information LLC (VBI) recommends requesting a full in-depth credit and operational report. This will enable a clearer understanding of the company's production stability, contractual reliability, and long-term financial strategy before entering into any significant commercial or financial arrangement.