HOANG SON I JOINT STOCK COMPANY: Vietnam’s Leading Private Cashew Processor Faces Volatile Year

HOANG SON I JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN HOÀNG SƠN I), or HOANG SON I JSC, is one of Vietnam’s most prominent privately held enterprises specializing in the processing and export of cashew nuts. With over 22 years of experience and a vast operational footprint in southern Vietnam, the company has earned a strong reputation in the global agricultural processing industry.

Legal Profile and Corporate Structure

Registered on November 18, 2002, with the Binh Phuoc Department of Planning and Investment, HOANG SON I JSC operates as a joint stock company with private Vietnamese ownership.

• Business ID and TIN: 3800259342

• Charter Capital: USD 69.84 million

• Paid-up Capital (2023): USD 12.32 million

• Ownership: 100% privately held

• Website: http://hoangson1.vn

The company is headquartered in Village 2, Duc Lieu Commune, Bu Dang District, Binh Phuoc Province, with three active branch locations in Lam Dong and Ba Ria - Vung Tau.

Management Team

• Chairman cum Director: Mr. Ta Quang Huyen – holding a majority stake (80%) and steering the company’s strategy and operations.

• Deputy Chairwoman: Ms. Nguyen Hong Nga – also a significant shareholder (10%).

• The remaining 10% is held by Mr. Ta Ngoc Mai, indicating a closely-held family-run corporate governance model.

With approximately 700 employees, HOANG SON I JSC maintains a sizable workforce to support its large-scale processing activities.

Business Scope

The company focuses heavily on:

• Processing cashew nuts into kernels and roasted/salted products for export.

• Its registered activities also include:

  • Fruit and vegetable preservation

  • Wholesale of agricultural raw materials

  • Specialized retail of construction materials

  • Real estate trading and land use rights

This diversification reflects an ambition to broaden revenue streams while staying grounded in agricultural processing.

Financial Overview

Despite significant turbulence in 2023, the company remains operationally active. Key figures from its financial performance include:

FY 2023 (Converted to USD):

• Total Assets: USD 141.11 million (▼67.8% YoY)

• Sales Revenue: USD 275.41 million (▼43.76% YoY)

• Profit: USD 44,075 (▲2052.39% YoY recovery from near-zero profit in 2022)

• Owner’s Equity: USD 12.98 million (↑0.34% YoY)

• Working Capital: USD 5.53 million

The company saw a dramatic reduction in both assets and revenue, likely due to market contraction, inventory liquidation, or restructuring. However, the sharp rise in profit suggests efficient cost control or the sale of high-margin inventory.

Ownership and Shareholding

The company is entirely owned by Vietnamese nationals, with a highly concentrated shareholder base:

• Ta Quang Huyen – 80%

• Nguyen Hong Nga – 10%

• Ta Ngoc Mai – 10%

This closely held ownership structure allows for agile decision-making but may also limit outside investment and governance diversity.

Strategic Position

Located in Binh Phuoc, Vietnam’s cashew capital, HOANG SON I JOINT STOCK COMPANY leverages regional agricultural advantages and global export connections. While 2023 marked a tough year in terms of scale, the company's survival and return to profitability are positive signals for stakeholders.

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