GARMENT 10 CORPORATION - JOINT STOCK COMPANY

GARMENT 10 CORPORATION - JOINT STOCK COMPANY (Tổng Công Ty May 10 - Công Ty Cổ Phần) is one of Vietnam’s most well-established garment manufacturers, operating as a publicly held joint stock company under Business ID 0100101308. It was officially registered on December 15, 2004, with the Hanoi City Department of Planning and Investment. The company’s head office is located at No. 765A, Nguyen Van Linh Street, Sai Dong Ward, Long Bien District, Hanoi.

Trading under the name GARCO 10., JSC and listed on the UPCOM exchange under the symbol M10, this enterprise employs approximately 7,300 workers and specializes in manufacturing garments and auxiliary materials, while also participating in retail trade, vocational education, and real estate services such as worker accommodations and office leasing.

The company is chaired by Vu D. G., with Than D. V. serving as General Director. Under this leadership, Garment 10 has maintained steady operations, though recent financials reflect some margin pressures. In 2024, the company reported sales of USD 190.9 million, marking a 12.26% increase from the prior year. However, profit slightly declined to USD 4.02 million, continuing a two-year trend of weakening net earnings. Total assets grew to USD 107.47 million, while equity rose to USD 23.38 million, reflecting a stable capital base despite reduced profitability.

Working capital remains positive at USD 6.32 million; however, with profits down 5.25% year-over-year and equity growth slowing, further attention should be paid to operational efficiency and export market dependencies. The company’s ownership is partly held by the Vietnam National Textile and Garment Group (32.21%), with the remaining shares spread among individuals and public investors.

Given the fluctuation in profit despite rising sales and assets, Vanguard Business Information LLC (VBI) recommends obtaining a full credit and operational report for a clearer understanding of cash flows, client concentration risks, cost structures, and export exposure before making strategic or financial decisions involving GARCO 10.