HA LONG - CFG FLOAT GLASS COMPANY LIMITED

HA LONG - CFG FLOAT GLASS COMPANY LIMITED (Vietnamese name: CÔNG TY TNHH KÍNH NỔI HẠ LONG - CFG) is a privately held one-member limited liability company operating under Business ID and Tax Identification Number 2700674142. The enterprise was registered on September 30, 2013, with the Ninh Binh Province Department of Planning and Investment. Its registered address is located in Khanh Cu Industrial Park, Khanh Cu Commune, Yen Khanh District, Ninh Binh Province, Vietnam.

The company is led by Mr. Do T. V., General Director, and Ms. Phan T. N. L., Chief Accountant, both of whom are Vietnamese nationals. With a workforce of approximately 700 employees and a paid-up charter capital of over USD 98.1 million, HA LONG - CFG FLOAT GLASS is a substantial manufacturer of float glass, primarily serving the construction and architectural sectors.

As of the fiscal year ending December 31, 2023, the company’s total assets reached USD 212.15 million, reflecting a 9.01% year-over-year increase. Sales revenue also climbed to USD 140.96 million, a 5.11% increase from the previous year, indicating moderate growth in operational output. However, net profit declined slightly to USD 1.92 million, down 2% from 2022. While the business remains profitable, the margin has tightened considerably from its peak in 2021, and profitability appears to have plateaued in recent years. The company's working capital also contracted significantly, falling by 62.07% to USD 2.71 million, signaling a potential need for improved liquidity and capital allocation strategies.

Despite the decline in earnings, HA LONG - CFG FLOAT GLASS maintains a stable equity position, with owner’s equity standing at approximately USD 101.98 million, barely changed from the previous year. The enterprise's net worth remains robust at USD 85.6 million, backed by tangible assets and a long-term industrial presence. These figures suggest that the company is financially stable but may be facing margin pressure, possibly due to rising input costs, competition, or cyclical shifts in construction demand.

CFG fully owns the company - Chu Lai Float Glass Joint Stock Company, a domestic Vietnamese investor. This backing provides continuity and regional industrial synergies, especially considering the strategic importance of glass manufacturing in Vietnam's growing infrastructure sector.

From a risk management perspective, the company appears to be navigating a transition phase. While its sales performance is positive and assets are growing, stakeholders should monitor the steady erosion in profits and liquidity. Businesses using business verification services or analyzing Vietnam private financial data should regard HA LONG—CFG FLOAT GLASS as a stable but efficiency-sensitive enterprise, where cost controls and demand dynamics will likely define its future trajectory.

VANGUARD BUSINESS INFORMATION LLC (VBI) continues to monitor HA LONG - CFG FLOAT GLASS COMPANY LIMITED as part of its commitment to providing objective financial intelligence, enabling clients to make informed decisions backed by reliable risk management service and transparent data on Vietnamese enterprises.