DEO CA GROUP JOINT STOCK COMPANY (Công Ty Cổ Phần Tập Đoàn Đèo Cả) is a privately held infrastructure construction company, legally registered under Business ID 0313365915 with the Ho Chi Minh City Department of Planning and Investment. Established on July 23, 2015, the company is headquartered at 32 Thach Thi Thanh, Tan Dinh Ward, District 1, Ho Chi Minh City, and operates several regional branches across Phu Yen, Lang Son, and Cao Bang. With a workforce of approximately 5,000 people, the company is a significant player in Vietnam's transport infrastructure sector, especially in railway and road construction.

In 2023, DEO CA GROUP JOINT STOCK COMPANY posted a strong year in terms of revenue, with total sales reaching USD 168.67 million—an impressive 79.54% increase from the previous year. Profit also rebounded to USD 6.75 million, up 85.5% from 2022’s more modest USD 3.6 million. However, it's worth noting that this remains far below the 2021 net profit of over USD 17.29 million, indicating that while the recovery is solid, it has not yet reached past profitability levels.

Total assets grew significantly to USD 425.13 million, reflecting a 34.54% year-on-year increase. Yet, despite this growth, owner’s equity declined by 4.53% to USD 186.37 million, and net worth similarly slipped by 4.58%. These drops in equity suggest potential increases in liabilities or capital restructuring that could be offsetting otherwise healthy top-line growth.

The company is led by Chairman Ho M. H., who also holds a 49.67% ownership stake, making him the largest shareholder. Other notable shareholders include Hai Thach Group JSC (17.95%) and individuals such as Vo T. L. and Khuong V. C..

While the recent growth in revenue and assets demonstrates that DEO CA GROUP JOINT STOCK COMPANY is actively expanding and taking on more projects, the decline in equity and net worth warrants careful attention. The company’s financial performance is improving from the post-pandemic downturn, but its balance sheet health requires scrutiny, particularly in the context of high fixed costs and infrastructure investment risks.