HUNG PHUOC FOOD JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN LƯƠNG THỰC HƯNG PHƯỚC) has emerged as a fast-rising name in Vietnam’s rice and grain trading sector, headquartered in Thanh Hung 1 Hamlet, Trung Hung Commune, Co Do District, Can Tho City. Registered under tax code 1801638501, the company began its journey in May 2019 and has seen impressive top-line expansion in just over six years of operation.

The company’s core business lies in the wholesale of rice, wheat, cereals, and flour—an area where Vietnam plays a leading role globally. In 2023, HUNG PHUOC FOOD recorded revenue of more than 147 million USD, up 74 percent from the previous year, while its total assets jumped nearly 70 percent to reach 78.45 million USD. These growth figures are eye-catching, especially for a company with just over half a decade of history.

Yet behind these soaring numbers is a more fragile foundation. Despite strong sales, the company posted a modest profit of only 53,651 USD in 2023, a narrow margin considering its volume. Even more notable is its equity profile. Owner’s equity stood at just over 6.15 million USD, barely recovering from a sharp drop in 2022 when it had plunged more than 64 percent. Once over 17 million USD in 2021, the equity figure has yet to regain its previous strength.

Working capital is another weak spot, totaling only 2.3 million USD in 2023. This figure suggests limited liquidity cushion, especially in an industry prone to price fluctuations and supply chain disruptions. For those relying on Vietnam private financial data or using business verification services, such financial signals warrant careful attention.

The company is led by General Director Mr. Tran V. C. and Chairman of the Board Mr. Tieu P. T., with major shareholders including Mr. Nguyen V. T. (46.3 percent ownership), Mr. Tran V. N. (26.85 percent), and Mr. Tran H. S. (26.85 percent). This relatively concentrated ownership structure is typical in mid-sized Vietnamese joint-stock firms.

Interestingly, HUNG PHUOC FOOD has also registered a wide array of secondary business lines, from electricity distribution and agricultural equipment trading to motorcycle repairs and even crop cultivation. Whether this diversification reflects real operations or simply broad licensing remains unclear, but it does raise questions for risk management specialists and potential partners evaluating the company’s strategic focus.

In conclusion, HUNG PHUOC FOOD JOINT STOCK COMPANY is undoubtedly growing fast, driven by Vietnam’s booming agricultural exports. But the thin profit margin, constrained working capital, and fragile equity base reveal underlying financial challenges that must be addressed if the company wants to sustain its upward trajectory. It is a firm that calls for close monitoring, not just admiration.