ICF CABLE (VIETNAM) CO., LTD

ICF CABLE (VIETNAM) CO., LTD (Vietnamese name: CÔNG TY TNHH DÂY CÁP ĐIỆN ICF (VIỆT NAM)) is a foreign-invested manufacturing company specializing in electronic and electric wires and cables. The company operates within the Linh Trung III Export Processing Zone & Industrial Park in Tay Ninh Province, a location designed to support export-oriented manufacturing and cross-border supply chains. Despite a relatively short operating history in Vietnam, ICF Cable has established a sizable production base serving both domestic and export markets.

From a legal standpoint, the company is registered as a one-member limited liability company under Business ID 3901279987, which also serves as its Tax Identification Number. It is licensed by the Tay Ninh Province Department of Planning and Investment and maintains active operating status. The registered head office is located at Lot 42, 48, Road C, Linh Trung III Export Processing Zone & Industrial Park, An Tinh Ward, Trang Bang Town, Tay Ninh Province, Vietnam, with an adjacent workshop facility within the same industrial park. The company employs approximately 160 workers, reflecting a mid-scale manufacturing footprint typical of FDI cable producers in Vietnam 

Governance and management are closely aligned with the parent company in China. The enterprise is led by Wang D. Q., who serves concurrently as Chairman and Director, indicating centralized strategic and operational control. Day-to-day management is supported by He T., Deputy Director, while on-site production and factory operations are overseen by Phan T. N., Factory Director. This combination of Chinese executive leadership and Vietnamese factory management is common among FDI manufacturers seeking to balance technical oversight with local operational execution.

Financially, ICF Cable (Vietnam) presents a mixed profile characterized by a solid asset base and strong liquidity, but weakening revenue performance and recent operating losses. Total assets remain substantial for a company of its age, and working capital is notably high, providing a comfortable liquidity buffer to support procurement, production cycles, and short-term obligations. Equity levels are positive and broadly aligned with net worth, suggesting that the company has stabilized its balance sheet after an initial period of capital adjustment.

However, revenue has declined sharply from earlier operating peaks, pointing to reduced order volumes, weaker export demand, or intensified competition in the wire and cable segment. More critically, the company has shifted from profitability to a net loss position, indicating margin compression, under-utilization of capacity, or rising input and operating costs that could not be fully passed on to customers. While the loss remains manageable relative to equity, it represents a clear deterioration in earnings quality and highlights the cyclical and competitive nature of the cable manufacturing industry.

Ownership structure provides an important layer of support. ICF Cable (Vietnam) is wholly owned by Changfeng Wire and Cable Co., Ltd, based in Hejian City, China. This 100% foreign ownership implies access to group-level financial backing, technology transfer, and upstream supply networks, which can help cushion short-term volatility and support operational restructuring if needed.

Overall, ICF Cable (Vietnam) Co., Ltd can be characterized as a capital-backed FDI manufacturer facing near-term commercial pressure. Its strengths lie in liquidity, industrial infrastructure, and strong parent-company support, while its main risks stem from declining sales and negative profitability. For suppliers, customers, and financial counterparties, the key question is not immediate solvency but rather the company’s ability to restore revenue momentum and improve margins in a highly competitive cable and wire market.

Clients seeking more recent financial updates, ownership verification, inter-company exposure analysis, or a full due-diligence assessment can obtain the latest Company Profile, Financial Report, or Comprehensive Report from VANGUARD BUSINESS INFORMATION LLC (VNBIS) at https://www.vnbis.com, where company data is continuously updated and professionally reviewed.