HAIAU MOTOR COMPANY LIMITED

HAIAU MOTOR COMPANY LIMITED (Công ty TNHH Ô Tô Hải Âu) has established itself as a notable player in Vietnam’s commercial vehicle distribution sector, specializing in heavy-duty trucks, vans, tractors, and construction-related vehicles. With over 13 years of continuous operation since its establishment in 2012, the company maintains a strong presence nationwide through strategically located showrooms in Hà Nội, Hưng Yên, Vĩnh Phúc, and Lạng Sơn. As demand for transportation infrastructure and logistics vehicles continues to grow nationwide, HAIAU Motor’s integrated network and broad product portfolio reinforce its competitive position.

Legal Status and Corporate Background

HAIAU MOTOR COMPANY LIMITED operates as a one-member limited liability company, legally registered under Business ID 0105859342 with the Hà Nội Department of Planning and Investment. The company was incorporated on 17 April 2012, marking more than 13 years of active commercial operations. Its registered charter capital stands at USD 616,244, fully paid up as of 31 December 2023.

The company is privately held, owned entirely by SEABIRD FINANCE – TRADING COMPANY LIMITED, a Vietnam-based shareholder with 100% equity control. HAIAU Motor’s official head office is located on the 5th Floor, West Tower, Hancorp Plaza Building, 72 Trần Đăng Ninh Street, Cầu Giấy District, Hà Nội. With 73 employees, the company manages a wide range of registered business lines, including wholesale vehicle distribution, maintenance, motor vehicle components trading, warehousing, freight transportation, and supporting services such as short-term accommodation and food services for industrial clients.

Key Personnel

Leadership at HAIAU Motor is concentrated under its chairman, Mr. Nguyen V. T. (Nguyễn Văn Thêm), a Vietnamese national who oversees the company’s governance, operational strategy, and market expansion initiatives. His leadership has guided the company through fluctuating economic cycles, including shifts in demand for heavy industrial vehicles and challenges in Vietnam’s transportation and construction sectors.

Under this organizational structure, the company maintains a centralized management approach, allowing for streamlined decision-making and consistent quality of service across its nationwide showroom network.

Key Financial Data and Performance Trends

The company’s financial performance displays both resilience and periods of significant volatility, reflecting broader market conditions in Vietnam’s commercial vehicle industry.

Assets and Equity Growth

HAIAU Motor reported USD 13.68 million in total assets for FY2023, representing a substantial 37.64% year-on-year increase after a contraction in 2022. Owner’s equity also followed a positive trajectory, rising to USD 1.28 million, up 58.09% YoY, signaling improved capital strength and stronger solvency.

Revenue Decline but Profit Recovery

Despite asset expansion, the company recorded a significant contraction in sales, from USD 225.30 million in 2022 to USD 97.59 million in 2023, marking a 56.69% decline. This aligns with Vietnam’s slowdown in construction projects, tightening credit conditions, and reduced procurement of heavy-duty equipment during the period.

However, profitability improved sharply. Net profit rose to USD 468,741 in 2023, a 70.7% increase YoY, demonstrating adequate cost controls, margin optimization, or improved product mix despite declining top-line performance. Working capital also climbed by 295.38%, reaching USD 315,924, signaling improved short-term financial liquidity.

Overall Financial Outlook

While sales volumes have softened, HAIAU Motor’s strengthened equity base, rising profits, and expanded asset structure highlight a company that is adjusting effectively to market headwinds. The financial data suggests stable operations with potential to scale when market demand rebounds—especially in logistics, infrastructure, and freight transport sectors.