DUC-VIET CO.,LTD

DUC-VIET CO.,LTD (CÔNG TY TNHH ĐỨC VIỆT) is a privately held limited liability company headquartered at Plot No. 85, Map Sheet No. 59, Quarter 7, Uyen Hung Ward, Tan Uyen City, Binh Duong Province, Vietnam. Established on November 7, 2002, the company has more than 22 years of experience in the manufacture and trading of natural rubber and other rubber products. It operates under the official business registration number and tax code 3700473222, and despite its small workforce of only 20 employees, it commands a significant presence in Vietnam's rubber industry.

In 2023, DUC-VIET CO.,LTD recorded total sales of USD 233.82 million, marking a year-over-year growth of 8.89%, continuing the upward trend from 2022. The company also saw an increase in its asset base, reaching USD 121.06 million, which reflects its ongoing expansion and operational scaling. However, this growth came with substantial financial strain. The firm posted a net loss of USD 5.27 million, following a loss of USD 4.64 million in 2022. Its equity fell sharply to just USD 4.22 million, down more than 55% from the previous year, indicating significant erosion of shareholder value and raising concerns about financial sustainability.

The company’s working capital of negative USD 31.41 million is another red flag, pointing to liquidity constraints and potential cash flow issues. These financial pressures suggest that while DUC-VIET CO.,LTD is maintaining high levels of sales, it is doing so at the cost of profitability and solvency. This imbalance between growth and financial health may require urgent restructuring, cost optimization, or capital injection to stabilize its operations.

DUC-VIET CO.,LTD is chaired by Mr. Nguyen Minh Chinh, who holds 50% of the company’s ownership. The remaining shares are split between Ms. Nguyen Kim Xuan (25%) and Ms. Nguyen Thi Bach Tuyet, who resides in Germany and owns 25%. This shareholder structure, combining domestic and overseas Vietnamese investors, offers a degree of international alignment and possibly export-oriented focus, particularly in the rubber trade, which has strong links to global supply chains.

The company’s registered business lines are diverse, ranging from rubber manufacturing and waste wholesale to warehousing, transport, and even real estate and silviculture. Its core, however, remains firmly tied to natural rubber processing and trade, which is a crucial sector in Binh Duong—a province known for its robust industrial base and logistics infrastructure.

In conclusion, DUC-VIET CO.,LTD, with tax code 3700473222, stands at a critical crossroads. On one hand, it boasts a strong revenue base and industry presence, underpinned by years of experience and a wide business scope. On the other hand, mounting financial losses and weakening equity pose serious challenges that must be addressed promptly. To ensure long-term survival and profitability, the company may need to reassess its cost structure, streamline operations, and strengthen financial management strategies. If these issues are resolved effectively, DUC-VIET CO.,LTD has the potential to remain a major player in Vietnam’s rubber manufacturing and export sector.