CHENG LOONG BINH DUONG PAPER COMPANY LIMITED

CHENG LOONG BINH DUONG PAPER COMPANY LIMITED (CÔNG TY TNHH CHENG LOONG BÌNH DƯƠNG PAPER) is a foreign direct investment (FDI) enterprise with Taiwanese ownership, operating one of Vietnam’s largest paper manufacturing facilities. Registered under Business ID and Tax Code 3702420498, the company was established on December 4, 2015, and is headquartered in Zone 4, Protrade International Industrial Park, An Tay Ward, Ben Cat City, Binh Duong Province, Vietnam. It is a wholly owned subsidiary of CHENG LOONG VIETNAM PAPER INVESTMENT CO., LTD, registered in Samoa.

Under the leadership of Chairman cum General Director Mr. Wu Jung-Pin, a Taiwanese national, the company employs approximately 550 staff and focuses primarily on the manufacture of corrugated paper, paperboard, and packaging containers, with additional activities in real estate operations, steam and hot water supply, and machinery repair.

Financially, the company presents a mixed picture. In 2023, total assets rose modestly to USD 509.42 million, and revenue surged 79.12% year-over-year to USD 223.67 million, indicating a significant recovery in sales performance. However, this growth did not translate into profitability. The company recorded a net loss of USD 36.04 million, marking the third consecutive year of negative earnings. Moreover, equity declined by nearly 6% to USD 177.3 million, and the firm continued to operate with a deeply negative working capital of USD -58.93 million, which could pose serious liquidity concerns.

Despite its robust infrastructure and revenue base, CHENG LOONG BINH DUONG PAPER faces significant operational inefficiencies or cost challenges that have hindered profitability. A continued pattern of losses despite revenue growth suggests unresolved structural or strategic issues, possibly related to raw material costs, overcapacity, or energy usage.

Given its large footprint in Vietnam’s industrial heartland and its role as a major exporter and employer, the company remains a critical player in the packaging supply chain. However, its deteriorating bottom line raises red flags for potential creditors, investors, and partners.

For those seeking to evaluate the risks and opportunities of doing business with CHENG LOONG BINH DUONG PAPER COMPANY LIMITED, or any manufacturing enterprise in Vietnam, VANGUARD BUSINESS INFORMATION LLC (VBI) provides in-depth business verification, litigation checks, credit risk evaluation, and financial intelligence reports. VBI’s services allow clients to assess not just reported figures, but the real financial health and legal standing of target companies. Access a full profile or order a custom report at www.vnbis.com.