EB HAI PHONG JOINT STOCK COMPANY

EB HAI PHONG JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN EB HẢI PHÒNG) is a foreign direct investment (FDI) company operating in the retail and food distribution industry in Vietnam. While its name may not be widely known to Vietnamese consumers, it plays a significant role in the supply of fresh food, dry goods, household products, and personal items through various retail channels. The company operates under tax code 0200662314 and is headquartered at Lot 1/20, Nga Nam New Urban Area - Cat Bi Airport, Dang Giang Ward, Ngo Quyen District, Hai Phong City. It also maintains regional branches in Da Nang, Phu Tho, and Ninh Binh.

Financially, EB HAI PHONG shows a mixed performance with both areas of strength and notable weaknesses. Its total revenue in 2023 reached USD 178.85 million, representing a modest growth of 3.45% compared to the previous year, continuing a trend of rising sales since 2021. However, this increase in revenue did not translate into strong profitability. Net profit dropped significantly by 71.91%, falling to USD 59,471 in 2023 from over USD 211,000 in 2022. In 2021, the company even recorded a loss of USD 1.63 million, showing a track record of volatile earnings.

Despite its high sales volume, the company’s working capital remains negative at USD -12.7 million, which indicates liquidity pressure and potential strain in covering short-term liabilities. Such a financial condition may lead to reliance on supplier credit or require parent company support to maintain operations smoothly. Nevertheless, EB HAI PHONGmaintains a solid asset base of USD 69.63 million and owner’s equity of USD 16.39 million, which has grown slowly but steadily over the years. This means that while profitability is weak, the company remains reasonably well-capitalized and continues to operate actively in the market.

The ownership structure reveals full foreign control. The company is nearly 100% owned by CAVI RETAIL LIMITED, a Hong Kong-based entity, with minor stakes held by related entities CAVI REAL ESTATE LIMITED and CAVI LIMITED, also based in Hong Kong. Ms. Jariya Chirathivat, a Thai national, serves as Chairwoman cum General Director, while Mr. Phoom Chirathivat also sits on the board—signaling a strong tie with Thailand’s Central Group, a retail conglomerate known for operating large-scale supermarkets and malls across Southeast Asia.

In terms of business operations, EB HAI PHONG is involved in both retail and food processing. It engages in activities such as the manufacture and distribution of food products, meat, seafood, and baked goods, and operates restaurants and logistics services. This diversified scope allows the company to serve a broad consumer market, but it may also contribute to its high operational costs and thin profit margins.

In conclusion, EB HAI PHONG JOINT STOCK COMPANY is a sizable FDI-backed retailer with steady sales and growing assets. However, persistent profitability issues, negative working capital, and minimal net earnings pose real concerns, especially in the context of expanding operations and potential economic slowdowns. While not financially distressed, the company should be approached with cautious optimism by suppliers and service partners, particularly regarding payment terms and contract structures. For deeper risk evaluations and continuous financial monitoring of companies like EB Hai Phong, VANGUARD BUSINESS INFORMATION LLC (VBI) offers detailed credit insights and verification services.