CRESYN HANOI COMPANY LIMITED: Rapid Profit Growth, But Working Capital Remains a Critical Watchpoint

CRESYN HANOI COMPANY LIMITED (CÔNG TY TNHH CRESYN HÀ NỘI) is a South Korean-invested manufacturer operating in Vietnam’s thriving electronics and audio device component sector. Established on January 20, 2011, and registered under Business ID and Tax Code 2300628649, the company is headquartered in Dong Tho Multi-Craft Industrial Cluster, Dong Tho Commune, Yen Phong District, Bac Ninh Province, with a secondary office in Hanoi.

The company is a wholly-owned subsidiary of CRESYN CO., LTD (South Korea), and its General Director Mr. LEE JONG BAE oversees a workforce of more than 3,180 employees. The firm is engaged in the manufacture and assembly of headphones, Bluetooth earphones, cables, and other electronic components for smartphones and consumer audio devices.

Financial Performance: Sharp Profit Recovery After Years of Modest Gains

In 2023, CRESYN HANOI COMPANY LIMITED posted significant improvements in both revenue and profitability. Sales increased 10.79% year-over-year, reaching USD 198.34 million, while net profit surged by 410.87% to USD 5.75 million, up from just over USD 1.1 million the previous year. The company’s total assets rose to USD 84.6 million (an 8.79% increase), and owner’s equity climbed to USD 27.53 million, reflecting a recovery in shareholder value after a dip in 2022.

However, despite this upward trend, the company’s working capital remains relatively modest at USD 8.35 million. While this is a 228% improvement from the previous year, the figure is still considered tight in relation to its operational scale and revenue level.

Risk Management Perspective: Operational Resilience with Liquidity Constraints

From a risk management standpoint, CRESYN HANOI COMPANY LIMITED appears to have rebounded strongly after two years of stagnant profit and asset contraction. The 2023 profit spike could signal a successful cost optimization or the renewal of high-volume contracts. Still, the modest working capital level, especially for a manufacturer with over 3,000 employees, highlights a potential vulnerability in cash flow and day-to-day financial flexibility.

Stakeholders—particularly vendors, logistics partners, and credit providers—are encouraged to examine the company’s Private Financial Data and conduct a Litigation Search to ensure ongoing solvency and operational stability. Despite strong foreign backing, short-term financial pressure or disruptions in client demand may still impact cash availability.

The electronics manufacturing space in Vietnam continues to benefit from global supply chain shifts, and CRESYN HANOI COMPANY LIMITED is well-positioned within this trend. However, prudent due diligence remains essential before any commercial engagement.