CHENG SHIN RUBBER (VIETNAM) IND. CO., LTD: A Global Tire Manufacturer Strengthening Vietnam’s Industrial Base

Established on December 8, 2005, and currently headquartered in Nhon Trach III Industrial Park, Dong Nai Province, CHENG SHIN RUBBER (VIETNAM) IND. CO., LTD (CÔNG TY TRÁCH NHIỆM HỮU HẠN CÔNG NGHIỆP CAO SU CHÍNH TÂN VIỆT NAM) has become a key production arm of the globally recognized Maxxis brand. The company operates under Business ID and Tax Code 3600777989 and is a one-member limited liability company, fully owned by MAXXIS HOLDINGS (BVI) CO., LTD, a British Virgin Islands-registered entity.

The company is registered with the Dong Nai Department of Planning and Investment and has maintained a solid operational history for nearly two decades. With a charter capital of USD 46.27 million, fully paid as of 2023, Cheng Shin Rubber Vietnam represents a major foreign direct investment (FDI) in Vietnam’s tire and rubber sector. As of the latest data, the company employs about 1,600 workers, highlighting its significant contribution to local industrial employment.

Under the leadership of General Director Mr. Chen Yun-Hwa, supported by Deputy General Director Mr. Hu Ming Te and Chief Accountant Ms. Nguyen Thi Thanh Ha, the company has demonstrated robust management practices and steady operational output in an increasingly competitive market.

In 2023, total sales reached USD 203.84 million, a decline of 12.25% compared to 2022—reflecting a broader slowdown in global demand or strategic scaling of inventory. However, net profit rose sharply by 19.34% to USD 32.54 million, signaling improved operational efficiency and stronger cost control measures. The company’s owner's equity climbed to USD 136.93 million, up 14.31%, while working capital stood at USD 51.79 million, demonstrating a healthy liquidity buffer.

Despite a 16.08% decrease in total assets, now standing at USD 164.32 million, the profit surge underscores Cheng Shin Rubber Vietnam’s ability to remain resilient and profitable amid cyclical headwinds. This performance is particularly noteworthy in an industry sensitive to raw material costs, shipping logistics, and global vehicle production trends.

The company is licensed to engage in the manufacture of rubber tires and tubes, including retreading and rebuilding services, and its facility is capable of supporting mass production for both domestic and export markets. As part of the Maxxis global network, the Vietnamese plant plays a strategic role in optimizing regional supply chains and serving Southeast Asia’s growing transportation sectors.

CHENG SHIN RUBBER (VIETNAM) IND. CO., LTD (CÔNG TY TRÁCH NHIỆM HỮU HẠN CÔNG NGHIỆP CAO SU CHÍNH TÂN VIỆT NAM) continues to anchor itself as a critical player in Dong Nai’s industrial ecosystem, bridging global quality standards with local manufacturing strengths. Its ongoing investment, stable workforce, and rising profitability suggest the company is well-positioned to capitalize on the recovery of automotive and industrial demand in the years ahead.