ELITE SOLAR TECHNOLOGY (VIET NAM) COMPANY LIMITED

Established on August 15, 2019, ELITE SOLAR TECHNOLOGY (VIET NAM) COMPANY LIMITED is a foreign-invested enterprise (FDI) headquartered at Lot D (D-2), Quang Chau Industrial Park, Viet Yen Town, Bac Giang Province, Vietnam. The company operates under Business ID: 2400870040 and is wholly owned by ELITE SOLAR POWER HONGKONG LIMITED (China).

ELITE SOLAR VIETNAM specializes in the manufacture of solar cells, batteries, and accumulators, serving as a key production base for its parent company’s global supply chain. The company maintains a lean operational team with 18 employees but demonstrates high capital intensity and technical specialization.

The company’s charter and paid-up capital are approximately USD 28.8 million, showing full foreign capital contribution.  ELITE SOLAR VIETNAM has recorded extraordinary financial growth within six years of operation. As of December 31, 2023, the company reported total assets of USD 79.77 million, equity of USD 62.74 million, sales of USD 106.65 million, and net profit of USD 21.71 million. Compared to 2022, profit increased by 109.6%, while sales rose by nearly 7%. The company’s working capital also expanded by more than 135%, indicating strong liquidity and effective financial management

The financial data reflects a clear upward trajectory since 2021, when sales were just USD 42 million. Over the next two years, revenue more than doubled, and profits increased nearly sevenfold, a sign of the company’s rapid scale-up and operational efficiency in Vietnam’s growing renewable energy sector.

ELITE SOLAR VIETNAM is managed by Mr. Liu J., a Chinese national with extensive experience in solar energy manufacturing. Under his leadership, the company has focused on high-efficiency solar cell production, contributing to the country’s export performance in the renewable energy segment.

With Vietnam emerging as a central manufacturing hub for clean energy components, ELITE SOLAR VIETNAM is essential in transitioning to sustainable power. Its consistent reinvestment in capital and strong foreign backing provide a solid foundation for continued growth. The company’s performance underscores the opportunities and competitiveness of Vietnam’s renewable energy sector, particularly in high-technology and export-oriented production.

In summary, ELITE SOLAR TECHNOLOGY (VIET NAM) COMPANY LIMITED stands out as a young yet financially strong enterprise with impressive profitability and long-term development potential within the country’s fast-expanding green energy landscape.