KEX EXPRESS (VIETNAM) COMPANY LIMITED

KEX EXPRESS (VIETNAM) COMPANY LIMITED (CÔNG TY TNHH KEX EXPRESS VIỆT NAM) has quickly become a visible name in Vietnam’s express-delivery market, thanks to its aggressive expansion strategy and strong international backing. The company operates from Pico Plaza, Tan Binh District, Ho Chi Minh City, and is led by Chairman Mok Chi Fung and Manager Duong Ngoc Rin.

However, behind the impressive revenue spike to nearly USD 95 million in 2023, the company’s financial structure reveals destabilizing issues worth noting. KEX Express posted a negative equity position of USD –2.38 million and another loss of USD –390,431 in 2023, marking its third consecutive unprofitable year. The financial charts on page 1 show a dramatic jump in sales but a persistent inability to convert scale into profitability. 

One standout concern is the company’s rapid asset expansion between 2021 and 2022, followed by a contraction in 2023. Combined with losses and negative equity, this indicates high operational pressure and potentially unsustainable cost structures. For partners, suppliers, and lenders, this imbalance signals elevated credit risk despite the impressive top-line growth.

For a deeper assessment—including ownership structure, risk indicators, and real-time financial updates—readers can explore the full company report available on VNBIS.com, where thousands of verified Vietnamese company profiles are continuously updated.