DANANG RUBBER JOINT STOCK COMPANY

DANANG RUBBER JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN CAO SU ĐÀ NẴNG), tax code 0400101531, is a long-established manufacturer specializing in tires and rubber products in Vietnam. With nearly two decades of operation since its registration in 2005, the company is based at Lot G, Ta Quang Buu Street, Hoa Hiep Bac Ward, Lien Chieu District, Da Nang City, and is one of the leading state-invested enterprises in the rubber industry. Its stock is listed on the Ho Chi Minh Stock Exchange under the symbol DRC, and it currently employs nearly 2,000 workers.

As of 2024, the company reported total assets of USD 172.55 million, a strong 24.1% increase over the previous year, reflecting continued investment in infrastructure and production capacity. However, revenue growth remained modest, with sales reaching USD 191.98 million, up just 3.96% year-over-year. What’s more concerning is the steady erosion of profit: net income dropped to USD 9.52 million, marking a 5.97% decline after a nearly 20% drop in 2023.

While DANANG RUBBER JOINT STOCK COMPANY maintains a solid equity base of USD 78.69 million, its performance shows signs of maturity and rising cost pressure. Margins are thinning despite moderate revenue growth, and its working capital of USD 26.91 million, though sufficient, should be closely monitored in light of the continuous profit decline.

The company is chaired by Mr. NGUYEN XUAN BAC, with Mr. LE HOANG KHANH NHUT serving as General Director. Its largest shareholder, the Vietnam National Chemical Group, retains a controlling stake of 50.51%, ensuring that state influence remains central to corporate governance and strategic orientation.

While operational stability is evident, DANANG RUBBER JOINT STOCK COMPANY must address profitability challenges and control costs more effectively if it is to maintain competitiveness and sustain investor confidence in the long term.