COMPETITION TEAM TECHNOLOGY (VIETNAM) COMPANY LIMITED: Foxconn-Backed Electronics Manufacturer Navigates Volatility in Vietnam

COMPETITION TEAM TECHNOLOGY (VIETNAM) COMPANY LIMITED (CÔNG TY TNHH COMPETITION TEAM TECHNOLOGY (VIỆT NAM))—abbreviated as CTTV—is a wholly foreign-owned enterprise operating in Vietnam’s high-tech electronics manufacturing sector. Founded on October 7, 2019, and registered under business ID 5702015581, the company is strategically located at Lot CN-05, Dong Mai Industrial Park, Quang Yen Town, Quang Ninh Province. As a key component of Foxconn’s global manufacturing network, CTTV has quickly grown into a significant player in the consumer electronics assembly space.

Legal Status and Foreign Ownership

CTTV is a one-member limited liability company with 100% ownership by Foxconn Singapore Pte. Ltd., part of the globally renowned Foxconn Group. As of December 2023, the company had a charter capital of approximately USD 69.07 million, with a paid-up capital slightly exceeding that figure. The enterprise is officially registered with the Quang Ninh Department of Planning and Investment and maintains active legal status.

Leadership and Workforce

At the helm of CTTV is Mr. CHEN, CHENG - HSIUNG, a Taiwanese national who serves as Chairman and General Director. Under his leadership, the company manages a workforce of approximately 1,500 employees. The lean but robust team reflects the firm's automation-based manufacturing model typical of high-tech assembly lines, especially in areas such as printed circuit board (PCB) fabrication and television module production.

Operations and Product Lines

COMPETITION TEAM TECHNOLOGY (VIETNAM) COMPANY LIMITED specializes in the manufacture and assembly of consumer electronics, particularly televisions, LCD/OLED display modules, printed circuit boards, LED light bars, and robot vacuum cleaner components. The company’s capabilities extend into advanced assembly of heat sinks and cooling components like radiator fans, serving both household and specialized industrial electronics markets.

CTTV is also licensed to engage in the production of computers, peripheral equipment, and electronic boards, alongside offering repair services for optical and electronic equipment. Supplementary business registrations cover non-specialized wholesale and support services, providing flexibility in procurement and downstream distribution.

Financial Performance

CTTV has shown remarkable financial evolution within a short period. For the fiscal year ending December 2023, the company recorded:

• Total Assets: USD 138.67 million (↓ 20.67% YoY)

• Owner’s Equity: USD 105.38 million (↑ 15.96% YoY)

• Total Sales: USD 214.28 million (↓ 42.39% YoY)

• Profit: USD 14.5 million (↑ 7.07% YoY)

• Working Capital: USD 69.97 million

The significant drop in sales—after peaking at over USD 371 million in 2022—is a major signal of market corrections or production shifts, possibly linked to global tech demand cycles or internal restructuring. Yet, profit continued to grow, albeit modestly, and equity rose nearly 16%, indicating strong internal cost control and balance sheet discipline.

Strategic Assessment

Despite the 42% decline in sales, CTTV's growth in profit and equity highlights its resilience and adaptability—qualities that are vital for players in the fast-moving consumer electronics sector. The backing by Foxconn ensures technical expertise, global supply chain access, and steady capital flow, enabling the firm to weather industry fluctuations.

For partners, suppliers, or buyers evaluating high-tech manufacturers in Vietnam, CTTV represents both opportunity and caution. While operational sophistication and profit stability are clear advantages, declining revenue and asset contraction suggest strategic review is ongoing.

As always, VANGUARD BUSINESS INFORMATION LLC (VBI) provides thorough company verification, financial analysis, and operational risk assessments for firms like COMPETITION TEAM TECHNOLOGY (VIETNAM) COMPANY LIMITED. These services support transparent decision-making and risk management in high-value, high-complexity B2B relationships.