HOANG LONG SEAFOOD PROCESSING COMPANY LIMITED

HOANG LONG SEAFOOD PROCESSING COMPANY LIMITED (Business ID: 1400656366) is a privately held one-member limited liability company established on 09 July 2008 and registered with the Dong Thap Province Department of Finance. The company’s Tax Identification Number is 1400656366. Its head office is located at Tan Cuong Hamlet, Phu Cuong Commune, Dong Thap Province, Vietnam.

Operating for over 17 years, HOANG LONG SEAFOOD specializes in the farming, processing, and export of pangasius, one of Vietnam’s key aquaculture products. The company employs approximately 1,100 workers and plays a role in the Mekong Delta seafood supply chain, particularly in freshwater fish processing and export markets.

Ownership and Corporate Structure

The company has a charter capital of USD 8.63 million, fully paid up as of 31 December 2023. It is 100% owned by HOANG LONG GROUP (Vietnam), indicating a fully domestic ownership structure.

HOANG LONG SEAFOOD operates as an integrated seafood processor with registered activities covering fisheries processing and preservation, inland aquaculture, inland freight water transport, wholesale of agricultural raw materials, food wholesale, freight transport by road, and technical testing and analysis.

Leadership

The company is chaired by Mr. PHAM P. T. (Chairman). Supporting management includes Mr. NGUYEN M. D. (Deputy General Director) and Ms. PHAM T. N. D. (Deputy General Director). The leadership team oversees both farming operations and seafood processing activities in Dong Thap Province, a major aquaculture hub in Vietnam.

Financial Performance Overview

For the fiscal year ended 31 December 2023, HOANG LONG SEAFOOD reported total assets of USD 62.90 million, representing a 12.14% decline year-on-year. Total sales reached USD 65.76 million, down 16.25% compared to 2022.

One of the most critical financial concerns is the company’s deteriorating equity position. Owner’s equity fell further into negative territory, reaching USD -16.50 million in 2023, a 60.91% year-on-year decline. Net worth also stood at approximately USD -18.78 million.

Profitability remains under significant pressure. The company recorded a net loss of USD 6.25 million in 2023, compared to a loss of USD 2.04 million in 2022. The 206.75% increase in losses signals substantial operational or market challenges. In addition, working capital was negative at USD -14.8 million, indicating liquidity strain and short-term financial pressure.

Over the past three years, the company has consistently reported losses, with losses widening in 2023 despite prior fluctuations in sales performance.

Operational Context and Outlook

Vietnam’s pangasius industry has experienced volatility due to fluctuating global demand, pricing pressures, and competition in export markets. As an integrated farm-and-process exporter, HOANG LONG SEAFOOD is exposed to raw material price movements, feed costs, and international seafood market conditions.

Although the company remains active and maintains a substantial workforce, the combination of negative equity, consecutive losses, and liquidity constraints poses significant financial risks. Future performance will likely depend on export recovery, cost restructuring, and potential capital reinforcement from its parent group.

HOANG LONG SEAFOOD PROCESSING COMPANY LIMITED remains a notable seafood processor in Dong Thap Province, but its financial structure indicates the need for stabilization and strategic turnaround measures.