HAI MINH TEXTILE JOINT STOCK COMPANY

HAI MINH TEXTILE JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN DỆT NHUỘM HẢI MINH) is a foreign-invested enterprise (FDI) operating in Vietnam’s textile manufacturing sector. Officially established in December 2012, the company is based in Bảo Minh Industrial Park, Nam Định Province, and specializes in the production of knitted and woven fabrics, textile finishing, and fiber spinning. With a labor force of over 2,100 employees and registered capital of USD 36.27 million, the company has established itself as a large-scale industrial player in Vietnam’s garment supply chain.

The company operates under Business ID 0600977710 and is backed by international shareholders, including Sunrise (Shengzhou) Knits Co., Ltd from China (holding 67.89%), Smart Shirts Ltd from Hong Kong (29.25%), and Smart Shirts Knits Limited (2.85%). Its General Director, Mr. Cai Guoqiang, is of Chinese nationality, indicating direct operational and strategic influence from foreign investors.

Financially, HAI MINH TEXTILE JSC reported total revenue of USD 175.47 million in 2023, a decline of 11.94% compared to 2022. Despite this, the company maintained its profitability, earning USD 4.97 million in net income, a modest 8.15% increase over the prior year. Owner’s equity rose steadily to USD 47.68 million, reflecting sustained capital strength and earnings retention. Total assets increased by 10.22% to USD 130.36 million, indicating a healthy balance sheet expansion. However, the company’s negative working capital of USD -29.58 million highlights a liquidity risk that may impact short-term solvency.

The decline in sales, paired with continued profitability, suggests a degree of operational efficiency or cost control; however, the liquidity situation should be closely monitored. From a Credit Risk Monitoring and Business Verification Services perspective, HAI MINH TEXTILE JSC presents a solid financial foundation but faces short-term financial pressure that could impact creditor relations and operational flexibility.

For partners or suppliers, VANGUARD BUSINESS INFORMATION LLC recommends enhanced scrutiny through Private Financial Data reviews and Vietnam Litigation Reports, especially when engaging in transactions involving credit terms. The company’s foreign ownership structure, growing asset base, and export-oriented operationsposition it as a key player in Vietnam’s textile manufacturing base, but its financial data also highlight the importance of proactive Risk Management Services.

In conclusion, HAI MINH TEXTILE JOINT STOCK COMPANY is a credible, large-scale textile manufacturer with international backing and operational resilience. However, stakeholders should be cautious of its tight liquidity and ensure due diligence procedures are in place, particularly in contracts or procurement relationships involving deferred payments.