KIEN NONG AGRICULTURAL JOINT STOCK COMPANY

KIEN NONG AGRICULTURAL JOINT STOCK COMPANY (Business ID & Tax Code: 1602119893) is a young but ambitious player in Vietnam’s agricultural processing sector. Officially established in March 2020 and headquartered in Long Xuyen City, An Giang Province, this joint stock company focuses on the processing and preservation of fruits and vegetables — a critical link in the country’s agricultural export chain. Though it has only been operating for a few years, the company has already made bold moves in scale and capacity.

As of the end of 2023, according to the Company Report and Private Financial Data reviewed by VBI, KIEN NONG reported total assets of USD 184.77 million, a slight decrease from the previous year but still significant for a company of its age. Its total sales reached USD 344.02 million, reflecting a 19.6% drop year-over-year, which suggests potential strain in market demand or pricing volatility. Most strikingly, net profit fell steeply to just USD 3,473, a 78.5% decline, indicating that while revenue remains strong, the company is struggling to retain earnings.

Working capital stood at USD 1.25 million, and owner’s equity was also at a modest USD 1.25 million, suggesting a narrow financial cushion. This raises concern, especially when paired with such thin profitability. The company is led by Mr. Mai Thanh Nha, who also holds a majority ownership stake. Two other shareholders, Mr. Cao Minh Hoang and Mr. Nguyen Van Dung, each hold minority stakes, reinforcing its identity as a closely held Vietnamese business.

Despite financial headwinds, KIEN NONG’s ability to generate hundreds of millions in revenue within just a few years is no small achievement. The company has proven its capacity to mobilize scale and production quickly. However, with its thin margins, it faces pressure to improve efficiency, manage costs more tightly, and navigate fluctuations in Vietnam’s agribusiness market. As always, up-to-date Company Reports and Risk Management reviews are crucial tools for anyone looking to engage seriously with KIEN NONG in partnerships, trade, or financing.

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