HOA PHAT STEEL PIPE COMPANY LIMITED - HUNG YEN BRANCH

HOA PHAT STEEL PIPE COMPANY LIMITED – HUNG YEN BRANCH: A Cornerstone of Vietnam’s Steel Manufacturing

Strong Asset Base and Rebounding Profit in a Challenging Industry

HOA PHAT STEEL PIPE COMPANY LIMITED – HUNG YEN BRANCH (CHI NHÁNH CÔNG TY TNHH ỐNG THÉP HOÀ PHÁT) is a critical manufacturing facility under the Hoa Phat Group's steel pipe division, one of Vietnam’s leading industrial conglomerates. Registered under Business ID and Tax Code 0100598873-001, this branch has been operating for over 27 years and is located in Minh Khai Hamlet, Nhu Quynh Town, Van Lam District, Hung Yen Province.

Functioning as a branch of HOA PHAT STEEL PIPE COMPANY LIMITED, the Hung Yen facility does not have independently registered charter capital, but its financial influence is substantial. The branch reported total assets of USD 276.42 million in 2023, a steady increase of over 9% year-over-year. While sales revenue decreased by 12.28% to USD 480.09 million, profit nearly doubled from the previous year, reaching USD 19.6 million—an impressive recovery that reflects cost restructuring or improved margins in an otherwise volatile market.

Financial Performance and Ownership Structure

Despite a sales downturn, HOA PHAT STEEL PIPE COMPANY LIMITED – HUNG YEN BRANCH strengthened its equity base significantly in 2023. Owner’s equity rose by 86.14%, now standing at USD 6.59 million, while net worth closely followed at USD 6.48 million. This indicates retained earnings and capital reinvestment, aligning with Hoa Phat Group’s long-term industrial strategy.

The branch is 100% owned by HOA PHAT STEEL PIPE COMPANY LIMITED, headquartered in Hanoi at No. 39, Nguyen Dinh Chieu Street. The Hoa Phat brand is widely recognized for its dominance in steel production and its strategic role in Vietnam’s infrastructure development. The Hung Yen branch contributes directly to this industrial footprint through its specialization in the manufacturing of iron, steel, and cast iron—core materials for Vietnam’s growing construction and logistics sectors.

Key Leadership and Operational Capacity

Leading the Hung Yen branch is Mr. Nguyen Manh Tuan, who holds dual roles as Branch Director and Owner Representative, supported by Deputy Director Mr. Nguyen Thai Son. With a team of 477 employees, the facility continues to be a major employer in the region, supporting local economies and providing stable industrial jobs.

As energy prices, raw material costs, and global trade pressures challenge the steel industry, HOA PHAT STEEL PIPE COMPANY LIMITED – HUNG YEN BRANCH demonstrates adaptability. The sharp rebound in profit during 2023 is an indicator of operational efficiency and market resilience, even in the face of revenue contraction.

The Need for Financial Risk Oversight

Branches like this often operate with substantial capital and wide-ranging procurement relationships. For investors, contractors, and suppliers, it is critical to assess the financial and operational health of such large-scale operations. That is why risk monitoring and data analysis from entities like Vanguard Business Information (VBI) are essential. VBI provides independent financial risk assessments, helping stakeholders evaluate solvency, profit stability, and partnership reliability—particularly in industries like steel manufacturing where market swings can heavily impact cash flow.

Conclusion

HOA PHAT STEEL PIPE COMPANY LIMITED – HUNG YEN BRANCH remains a strategic asset in Hoa Phat Group’s national steel production network. The branch shows strong fundamentals and growth potential with increasing assets and sharply improving profits. However, as part of an industry subject to cyclical volatility, close attention to financial indicators and risk metrics remains essential. For those engaging with Vietnam’s steel supply chain, this branch represents both opportunity and a reminder of the value of thorough financial due diligence.