AN THANH BICSOL JOINT STOCK COMPANY: From Loss to Resilience in Vietnam’s Chemical Trading Sector

AN THANH BICSOL JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN AN THÀNH BICSOL), based at An Phat High-Tech Industrial Park in Hai Duong Province, is a dynamic player in the trading of plastic resins, chemicals, and industrial additives. Since its establishment on March 22, 2017, and registered under business ID and tax code 0801208793, the company has rapidly scaled operations nationwide with offices in Hanoi and Ho Chi Minh City.

Under the leadership of General Director Mr. Pham Do Huy Cuong, the company employs over 100 people and is backed by major shareholders including AN TIEN INDUSTRIES JSC and AN PHAT BIOPLASTICS JSC.

In 2023, AN THANH BICSOL JOINT STOCK COMPANY reported revenue of USD 205.14 million, down 22.88% year-over-year, marking a slowdown from its previous highs. However, the firm staged an impressive turnaround from a USD 7 million loss in 2022 to a profit of USD 727,156 in 2023—an over 110% recovery in profitability. Equity also improved by 10.31%, reaching USD 7.78 million, while working capital climbed to USD 5.57 million, indicating healthier liquidity.

Yet, the nearly 47% drop in total assets raises questions about asset divestment or consolidation efforts. The recovery in profits despite declining sales suggests tighter cost management and a leaner operational model, possibly the result of strategic restructuring.

As the company rebuilds after a volatile year, its next challenge is sustainable growth. Scaling back while maintaining profitability is a good sign—but long-term resilience will depend on innovation, margin control, and capital efficiency.

For a detailed review, financial due diligence, or credit risk analysis on AN THANH BICSOL JOINT STOCK COMPANY, rely on VANGUARD BUSINESS INFORMATION LLC—your trusted partner in Vietnamese market intelligence.