CA MAU SEAFOOD PROCESSING AND SERVICE JOINT STOCK CORPORATION

CASES: A Cornerstone of Vietnam’s Shrimp Export Industry Amid Market Shifts

As Vietnam’s seafood export sector gains momentum in 2025, few companies better embody both the challenges and the enduring strengths of the industry than CA MAU SEAFOOD PROCESSING AND SERVICE JOINT STOCK CORPORATION (CASES). With nearly two decades of experience and an expansive operational footprint, CASES remains a key player in Vietnam’s competitive shrimp and seafood processing landscape.

Corporate Identity and Legacy

Founded in October 2006, CASES is headquartered at No. 4 Nguyen Cong Tru Street, Ward 8, Ca Mau City, and currently operates under Business ID 2000108952. The company is privately held, with a charter capital of approximately USD 18.5 million and a workforce of 2,000 employees.

Led by Chairman and General Director Mr. Huynh Thanh Tan, the management team also includes Deputy General Directors Mr. Do Cong Thanh and Mr. Le Quang Khanh, all of whom are seasoned professionals in Vietnam’s aquaculture and export sectors.

CASES operates across multiple provinces with production facilities in Ca Mau, Kien Giang, and Bac Lieu, strategically located near Vietnam’s major shrimp farming zones, enabling efficient raw material sourcing and cost-effective logistics.

Core Business Activities

CASES specializes in:

• Processing and exporting various types of shrimp

• Producing surimi and fishmeal

• Aquaculture (both marine and inland)

• Engaging in related sectors such as food wholesale and equipment trading

These activities position CASES at the intersection of both upstream and downstream segments of the seafood supply chain—a competitive advantage in times of market turbulence.

Financial Performance: A Year of Correction

In FY2023, CASES reported:

• Total sales: USD 184.11 million (down 25.96% YoY)

• Profit: USD 4.16 million (down 58.7% YoY)

• Total assets: USD 93.55 million (down 8.55%)

• Owner’s equity: USD 32.17 million

While these figures reflect a temporary contraction, especially compared to the strong growth of 2022, they must be viewed in the context of global seafood oversupply, inflationary pressures on input costs, and geopolitical uncertainty—particularly the evolving U.S. trade policy that has pressured Vietnamese seafood exporters.

Notably, CASES maintained a positive net worth of USD 29.54 million, a signal of continued operational stability and asset integrity despite the challenging macroeconomic climate.

Export Market Position and Competitiveness

According to data from Vanguard Business Information (VBI), CASES ranked among Vietnam’s Top 20 Seafood Exporting Companies in the first four months of 2025, with export turnover exceeding USD 54.65 million. This places it ahead of many regional competitors, and highlights CASES’ ability to secure and execute large-volume contracts, particularly with partners in Japan, China, South Korea, and the EU.

The company benefits from:

• Long-term contracts with international buyers

• Fully equipped, HACCP-certified processing facilities

• Strategic access to raw shrimp from Vietnam’s southern provinces

• A diversified business model, balancing commodity exports with value-added production

Outlook: Resilience in a Shifting Trade Landscape

Looking forward, CASES—and Vietnam’s seafood sector more broadly—faces a volatile but manageable environment. The upcoming U.S. tariff enforcement (July 2025) has stirred short-term anxiety, but insiders suggest it may not have a material impact on all exporters. The U.S. still regards Vietnam as a preferred trade partner, and CASES’ diversified markets, along with its proactive management, provide a buffer.

In fact, CASES may benefit from trade shifts away from China, as buyers seek reliable alternatives for shrimp and whitefish products. In this light, CASES is well-positioned to capture additional EU and CPTPP market share, especially if it continues to invest in sustainability, automation, and digital traceability.