DRAGON WAVES FROZEN FOOD FACTORY COMPANY LIMITED

DRAGON WAVES FROZEN FOOD FACTORY COMPANY LIMITED (Vietnamese name: CÔNG TY TNHH THỦY SẢN HẢI LONG NHA TRANG) is a seafood processing enterprise based in Khanh Hoa Province, Vietnam. The company operates in the processing and preservation of fisheries and fishery products, with a particular focus on frozen seafood products for both domestic consumption and export markets. With a workforce of approximately 1,000 employees and more than two decades of operation, the company has established itself as one of the notable seafood processing facilities in Vietnam’s south-central coastal region.

The company was established on 14 June 2005 and is registered under Business Registration Number 4200599194 with the Khanh Hoa Department of Planning and Investment. It operates as a limited liability company with foreign direct investment (FDI) ownership status, with a charter capital of approximately USD 5.34 million. Its headquarters is located in Suoi Dau Industrial Park, Suoi Tan Commune, Cam Lam District, Khanh Hoa Province, an industrial zone strategically located near major aquaculture and fishing areas along Vietnam’s central coastline.

Business operations and industry position

The core activities of DRAGON WAVES FROZEN FOOD FACTORY COMPANY LIMITED focus on the processing and freezing of seafood products, especially frozen fish. In addition to seafood processing, the company has registered business activities covering several related segments within the fisheries supply chain. These include freshwater aquaculture, breeding fish production, wholesale of food products, and broader seafood preservation services.

This integrated operational structure allows the company to participate in multiple stages of the seafood value chain, from aquaculture inputs to processing and distribution. The company’s production facilities are located in Suoi Dau Industrial Park, while upstream aquaculture-related operations include the Hoa Son Fingerling Farm located in Van Ninh District of Khanh Hoa Province. This combination of processing capacity and aquaculture support helps ensure a more stable supply of raw materials for seafood production.

Leadership of the company is currently under Director Vo T. M., a Vietnamese national responsible for overseeing corporate operations and management. Under this leadership, the company has maintained active operations for more than 20 years, demonstrating long-term stability in Vietnam’s seafood processing sector.

Ownership structure

The company’s ownership is divided among three corporate shareholders. The largest shares are held by Halcyon Company Limited and Ocean Garden Company Limited, each owning 39.23 percent of the company. The remaining 21.54 percent stake belongs to Hai Vuong Co., Ltd, another enterprise located in Khanh Hoa Province with involvement in the seafood sector.

This ownership composition reflects a partnership structure among companies that are closely linked to seafood production and processing activities. Such collaborative ownership structures are common in Vietnam’s fisheries industry, where coordination between aquaculture producers, processors, and distributors can help maintain supply stability and export competitiveness.

Financial performance

In recent years, DRAGON WAVES FROZEN FOOD FACTORY COMPANY LIMITED has operated at a moderate industrial scale within Vietnam’s seafood processing sector.

As of 2024, the company reported:

• Total Assets: approximately USD 35.44 million

• Total Sales: approximately USD 57.73 million

• Owner’s Equity: approximately USD 7.78 million

• Profit: approximately USD 426,000

Historical financial data indicates that the company experienced stronger revenue levels earlier in the decade. For example, total sales reached nearly USD 83.95 million in 2022, before declining to around USD 59.53 million in 2023and then USD 57.73 million in 2024. Profit levels followed a similar trajectory, decreasing from roughly USD 737,000 in 2022 to approximately USD 426,000 in 2024.

Despite this decline in revenue and profit, the company’s equity base has continued to increase steadily, indicating that the business remains financially stable and continues to accumulate retained capital.

Risk considerations and industry dynamics

From a risk-management perspective, several factors shape the current business profile of DRAGON WAVES FROZEN FOOD FACTORY COMPANY LIMITED.

First, the company benefits from long operational history and established processing infrastructure. More than twenty years of activity within the seafood sector suggests operational resilience and strong industry relationships.

Second, the decline in revenue and profit in recent years reflects broader pressures affecting seafood exporters worldwide. Global seafood demand can fluctuate due to economic cycles, trade policies, sanitary regulations, and shifting consumer preferences in key import markets.

Third, seafood processing companies are often exposed to supply chain volatility, including fluctuations in raw fish supply, climate impacts on aquaculture, and international market pricing.

Fourth, the company’s ownership structure—while providing supply-chain integration—may also indicate a degree of concentration in shareholder relationships, which can influence strategic decision-making and financial flexibility.

Outlook

Despite recent fluctuations in revenue and profitability, DRAGON WAVES FROZEN FOOD FACTORY COMPANY LIMITED remains an established participant in Vietnam’s seafood processing industry. Its location in a major aquaculture region, integrated business activities, and long operating history provide a foundation for continued participation in both domestic and export seafood markets.

For investors, suppliers, lenders, and international partners evaluating Vietnamese seafood companies, access to accurate corporate intelligence and risk analysis remains essential. Comprehensive company reports can provide deeper insight into ownership structures, financial health, operational risks, and market positioning.