BIEL CRYSTAL (VIETNAM) MANUFACTORY LIMITED

BIEL CRYSTAL (VIETNAM) MANUFACTORY LIMITED: Strong Rebound in Sales and Profit, but Working Capital Weakness Signals Risk

BIEL CRYSTAL (VIETNAM) MANUFACTORY LIMITED (CÔNG TY TNHH SẢN XUẤT BIEL CRYSTAL VIỆT NAM) is a fully foreign-invested enterprise established in Vietnam on April 25, 2017. Located at No. 98, Huu Nghi Street, VSIP Bac Ninh Industrial, Urban and Service Park, Dai Dong Commune, Tien Du District, Bac Ninh Province, the company specializes in the manufacturing and processing of mobile phone cover glass—a critical component in the global consumer electronics supply chain. The company operates under Business ID and Tax Code 2300981491 and is backed by BIEL CRYSTAL DEVELOPMENT COMPANY LIMITED (British Virgin Islands), holding a full 100% ownership stake.

The company’s leadership includes Ms. Lamwai Ying (General Director, Canadian) and Mr. Khaw Cheewee (Managing Director, Malaysian). Employing around 2,000 workers, the firm also engages in manufacturing plastics products, optical instruments, and technical testing services.

Financial Performance: Revenue and Profit Recover, But Liquidity Is Under Pressure

After a steep dip in 2022, BIEL CRYSTAL (VIETNAM) MANUFACTORY LIMITED made a strong comeback in 2023. The company posted USD 197.2 million in revenue, representing a 67.61% year-on-year increase, and USD 12.71 million in net profit, up 47.02% from the previous year. Its total assets also rose by 5.9% to USD 189.27 million, while owner’s equity grew 17.77%, reaching USD 84.24 million.

However, the most notable concern lies in the company’s working capital, which plunged 79.69% from the previous year to only USD 14.6 million. This indicates possible short-term cash flow issues, which can pose a significant risk, especially in a capital-intensive manufacturing environment where operational costs and procurement cycles are tight.

Risk Management Perspective: Manufacturing Strength with Liquidity Fragility

From a risk management lens, BIEL CRYSTAL (VIETNAM) MANUFACTORY LIMITED presents a mixed profile. On one hand, its strong recovery in revenue and profit highlights robust production capacity and possibly renewed contracts with key mobile device manufacturers. On the other hand, the dramatic decline in working capital should raise caution among suppliers, investors, and logistics partners.

Companies considering business engagement should take a closer look at Private Financial Data, particularly regarding cash flow forecasts and trade credit exposure. Additionally, a Litigation Search would help identify any unresolved disputes or labor issues, particularly given the scale of its workforce and cross-border ownership.

The firm remains active and operational; however, any future credit or partnership agreement should be supported by updated financials and a clear understanding of the firm’s liquidity management strategy.