DRY CELL AND STORAGE BATTERY JOINTSTOCK COMPANY

Better known by its commercial name PINACO, DRY CELL AND STORAGE BATTERY JOINT STOCK COMPANY (Công ty Cổ phần Pin Ắc Quy Miền Nam) stands as one of Vietnam’s longest-standing and most trusted names in battery manufacturing. Established in 2004 with roots stretching back even further, the company operates from its headquarters at 321 Tran Hung Dao Street, Co Giang Ward, District 1, Ho Chi Minh City, and is officially registered under business ID and tax code 0300405462. With over 20 years of experience and listed on the Ho Chi Minh Stock Exchange under the symbol PAC, PINACO remains a symbol of industrial endurance in the country’s evolving energy and consumer electronics markets.

What sets PINACO apart is not only its nationwide brand recognition but also its backing. As of June 2024, the majority shareholder remains Vietnam National Chemical Group, a state-owned enterprise with a 51.43 percent stake. Additional institutional investors include PVI Opportunity Fund (12.77 percent) and Japan’s Furukawa Battery Co., Ltd (10.54 percent), indicating both state trust and international confidence in the company’s fundamentals.

The company’s 2024 financial data reflects moderate but stable growth. Total sales reached USD 131.69 million, a slight year-over-year increase of 0.64 percent after a notable drop in 2023. More importantly, net profit rose nearly 10 percent, recovering to over USD 5.2 million. While not a standout growth figure, it points to consistent cost control and demand resilience. Total assets rose to USD 104.1 million, while owner’s equity improved to nearly USD 39.8 million, reinforcing its steady capital foundation.

With a workforce of 1,258 employees and manufacturing facilities across Ho Chi Minh City, Dong Nai, and a branch in Da Nang, PINACO has a robust logistical footprint. Its operations include not only the manufacture of batteries and accumulators, but also wholesale trade, road freight transport, and some activity in real estate, though its primary reputation rests firmly on its battery products.

The leadership team, including Chairman Le Hoang and General Director Le V. N., has steered the company through both market highs and operational challenges. One notable trait is the firm’s cautious and measured financial management. Despite modest revenue growth in recent years, it maintains healthy working capital—USD 11.56 million in 2024—and consistently reinvests in operational assets, a strategy that has helped the company withstand global supply chain disruptions and market volatility.

For those analyzing Vietnam private financial data, PINACO represents a model of state-affiliated industrial stability. From a business verification and risk management perspective, its consistent equity growth, government-backed shareholding structure, and longstanding market presence offer a relatively low-risk profile, especially in a sector that increasingly intersects with renewable energy, electric mobility, and consumer electronics.

In a fast-electrifying world, PINACO may not yet be a disruptor, but it remains an essential and enduring player in Vietnam’s energy hardware landscape. Whether for business partnerships or supply chain alliances, this company deserves serious consideration.