BT THO XUAN NGHI SON COMPANY LIMITED

BT THO XUAN NGHI SON COMPANY LIMITED (Vietnamese name: CÔNG TY TRÁCH NHIỆM HỮU HẠN BT THỌ XUÂN NGHI SƠN) is an active limited liability company operating in Vietnam’s infrastructure and construction sector, with a primary focus on road construction. The company was officially established on 13 October 2014 and has maintained operations for more than 11 years in Thanh Hoa Province.

Legal Status and Registration Information

• Legal name: BT THO XUAN NGHI SON COMPANY LIMITED

• Tax code / Business ID: 2802202903

• Legal form: Limited liability company

• Registered address: Phu Quy Village, Hoang Son Commune, Nong Cong District, Thanh Hoa Province, Vietnam

• Licensing authority: Thanh Hoa Department of Planning and Investment

• Charter capital: USD 20.21 million

• Paid-up capital (as of 31/12/2023): USD 10,753

• Operational status: Active

Management and Key Personnel

The company is currently managed by Mr. Do V. T., who holds the position of Director. He is a Vietnamese national and represents the legal authority of the enterprise in all operational and regulatory matters. In line with professional disclosure standards, only abbreviated middle and first names are presented.

Business Activities

BT THO XUAN NGHI SON COMPANY LIMITED is registered and operating mainly in:

• Construction of roads, including infrastructure projects associated with regional transport development.

Financial Performance Snapshot

According to financial data compiled and standardized by Vietnam Business Information (VNBIS), the company experienced significant financial volatility between 2023 and 2024. Total assets declined sharply from USD 69.90 million in 2023 to USD 8.72 million in 2024, representing a year-on-year contraction of 87.52%.

Total sales reached USD 66.83 million in 2024, down 22.7% compared to the previous year. Notably, the company recorded a net loss of USD 4.81 million in 2024, whereas profit was neutral in 2023. Owner’s equity also turned negative, standing at -USD 4.80 million, reflecting capital erosion and heightened balance-sheet pressure.

From a working-capital perspective, the company reported negative working capital of USD -4.8 million, which may indicate short-term liquidity stress and reliance on external financing or project-based cash inflows.

The presence of large construction-related institutional shareholders suggests access to project pipelines, but also underscores exposure to public investment cycles and infrastructure spending risks.

Risk and Credit Perspective by VNBIS

From a Vietnam Risk Management standpoint, BT THO XUAN NGHI SON COMPANY LIMITED presents a mixed risk profile. While the company has a long operating history and strong revenue scale, the sharp decline in assets, negative equity, and loss-making performance in 2024 raise important concerns regarding financial sustainability and capital structure stability.

Through its Vietnam Business Information platform, VNBIS provides in-depth company financial reports, ownership analysis, and risk assessments to support lenders, investors, contractors, and insurers in making informed decisions when engaging with Vietnamese construction firms such as BT THO XUAN NGHI SON COMPANY LIMITED.

For stakeholders seeking a deeper understanding of the company’s financial health, shareholder dynamics, and risk exposure, a comprehensive and updated company report can be obtained directly from VNBIS, a leading provider of Vietnam Business Information and Vietnam Risk Management solutions.