IPC GROUP JOINT STOCK COMPANY

IPC GROUP JOINT STOCK COMPANY: A Private Metals Trader Diversifying into Renewable Energy

IPC GROUP JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN TẬP ĐOÀN IPC) is a privately held Vietnamese company primarily involved in steel trading and renewable energy project development. With over 18 years of experience, IPC Group has built a notable presence in industrial materials distribution while expanding into EPC contracting for solar and wind power.

Legal Status and Ownership

Registered with the Hanoi Department of Planning and Investment on October 24, 2006, IPC GROUP operates as a joint stock company.

• Business ID and TIN: 0102055583

• Charter Capital: USD 8.22 million (fully paid)

• Ownership: 100% privately held

• Head Office: No. 7B/331 Tran Khat Chan Street, Hai Ba Trung District, Hanoi

• Website: https://www.ipc-vietnam.com.vn

The company also operates a representative office in Charmvit Tower, Hanoi, and a branch in Hai Phong, indicating its logistical footprint across the northern industrial corridor.

Management and Governance

IPC is chaired by Mr. Phi Phong Ha, who also holds the majority ownership and plays a central role in both strategic direction and daily oversight. He is supported by General Director Mr. Nguyen Hong Kien and Chief Accountant Ms. Le Mai Dung. The leadership team comprises experienced Vietnamese professionals with domain knowledge in metals and infrastructure.

Business Activities

IPC Group’s two primary business segments are:

1. Wholesale of steel and metal products — including coils, sheets, and shaped steels for construction and industrial applications.

2. EPC contracting — implementing renewable energy projects, mainly solar and wind power plants.

In addition, the company holds licenses for a wide array of registered business activities, from mining and real estate to paper manufacturing and transport services. While this suggests room for diversification, actual activity appears concentrated in metals and energy sectors.

Financial Performance and Credit Perspective

IPC’s financials reflect a mixed but stable picture:

Key 2023 Figures:

• Total Assets: USD 117.75 million (↓22.5% YoY)

• Sales Revenue: USD 273.04 million (↑4.4% YoY)

• Net Profit: USD 1.08 million (↓47.75% YoY)

• Owner’s Equity: USD 29.22 million (↑3.63% YoY)

• Working Capital: USD 20.26 million

• Net Worth: USD 29.22 million

While the company has successfully increased revenue slightly, both profit and asset value have declined significantly over the past two years. The 47.75% drop in net profit for 2023 is a key concern, particularly when juxtaposed with declining total assets and only modest equity growth.

Nonetheless, IPC maintains a positive equity position, a stable capital structure, and sufficient liquidity for ongoing operations. From a defensive credit perspective, the company remains solvent and active, but profitability volatility and asset contraction suggest that close monitoring is advisable, especially for lenders or long-term commercial partners.

Strategic Outlook

IPC GROUP continues to play an important role in Vietnam’s industrial material supply chain while positioning itself for growth in renewable energy—a market segment aligned with national development priorities. The dual focus offers upside potential, but the capital intensity and project risks associated with EPC operations could pressure short-term earnings.

For deeper credit checks, ongoing monitoring, and financial analysis of IPC and its peers, VANGUARD BUSINESS INFORMATION LLC (VBI) provides independent, verified business intelligence tailored for risk management and strategic decision-making.