HUE TEXTILE GARMENT JOINT STOCK COMPANY is one of the most established names in Vietnam’s spinning and garment industry. Over two decades of continuous operation, HUE TEXTILE GARMENT JOINT STOCK COMPANY has expanded its production capacity across Hue City and Quang Binh while supporting a workforce of more than 4,249 employees. Today, HUE TEXTILE GARMENT JOINT STOCK COMPANY remains a key manufacturer within the national textile value chain, supplying yarn, fiber, and garment products to domestic and export markets.
Leadership Strength and State Linked Governance
The company is chaired by Nguyen Duc Tri, with operational leadership managed by General Director Nguyen Hong Lien. Management stability is clear from page 1 of the report, but the defining governance feature is the ownership structure. The Vietnam National Textile and Garment Group controls 60.86% of the company, making HUEGATEX a state-linked enterprise. Additional stakes belong to other shareholders at 30.63% and Tuong Long Company Limited at 8.51% as shown in the shareholder pie chart on page 2. For investors, this structure offers policy stability but may also limit strategic flexibility.
Operational Scale and Competitive Position in Vietnam’s Textile Sector
HUEGATEX operates manufacturing facilities in Hue and a branch in Quang Binh, supporting large-scale production of yarn and fiber. The company’s registered activities on page 2 include real estate operations, short-term accommodation, and wholesale of waste and scrap. However, the report makes clear that fiber spinning remains the core activity. With more than 4,249 employees, the company operates at a scale that gives it capacity strength but also exposes it to labor-intensive cost structures. Its UpCOM listing (ticker HDM) places it under public disclosure requirements that enhance transparency for investors.
Financial Trajectory and Margin Compression Signals
The financial charts on page 1 show a mixed pattern. Assets increased steadily from 38.25 million USD in 2021 to 49.55 million USD in 2023. Equity also rose from 12.33 million USD to 17.88 million USD over the period. However, sales declined from 82.59 million USD in 2022 to 75.69 million USD in 2023. Profit dropped sharply from 5.97 million USD in 2022 to 3.92 million USD in 2023, a decrease of more than 34%. Working capital improved to 8.48 million USD, giving the company a liquidity cushion. The primary concern is the profit decline despite stable assets and equity, suggesting rising production costs or weaker pricing power.
Sector Exposure and Operational Pressures
The textile and garment sector continues to face global headwinds, including declining demand from Western importers, rising wage costs, and higher input prices. HUEGATEX, with its large workforce and reliance on volume-driven spinning operations, is highly sensitive to these pressures. The decrease in sales shown in the revenue bar chart on page 1 reflects these challenges. The company’s large labor force may limit short-term cost flexibility, and reliance on raw-material trends may further tighten margins.
Business Insight
The most notable signal in this report is the tension between scale and profitability. While assets and equity continue to grow, profit is falling. The profit chart on page 1 shows a steep downward trajectory from 2022 to 2023, contrasting with rising asset values. This disconnect suggests that capital investment is not yet translating into improved margins. For analysts, this pattern often indicates that a textile enterprise is entering a restructuring phase or preparing for longer-term modernization. Investors evaluating HUEGATEX should examine whether the productivity of its spinning operations is keeping pace with capital expansion—a question that only the full VNBIS report clarifies through segment level financial details.
VNBIS Support for Investment, Credit, and Supply Chain Decisions
Vanguard Business Information LLC provides comprehensive financial diagnostics, risk profiling, ownership verification, and liquidity assessment for HUE TEXTILE GARMENT JOINT STOCK COMPANY. The VNBIS Company Comprehensive Report offers the full financial statements, solvency indicators, litigation checks, and risk analysis necessary for investors, suppliers, and lenders who need a detailed and verified understanding of the company’s stability and long-term prospects. For informed decision-making backed by hard data, the complete report at www.vnbis.com is essential.
Legal Profile
HUE TEXTILE GARMENT JOINT STOCK COMPANY
CÔNG TY CỔ PHẦN DỆT MAY HUẾ
HUEGATEX
3300100628
17 Nov 2005
Hue City Department of Planning and Investment
HDM
Publicly held
Active
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