LAO CAI-VIMICO COPPER METALLURGY- BRANCH OF VINACOMIN - MINERALS HOLDING CORPORATION

LAO CAI-VIMICO COPPER METALLURGY – BRANCH OF VINACOMIN – MINERALS HOLDING CORPORATION (Vietnamese name: TỔNG CÔNG TY KHOÁNG SẢN TKV-CTCP – CHI NHÁNH LUYỆN ĐỒNG LÀO CAI – VIMICO) is a state-linked industrial operation based in Tang Loong Industrial Park, Lao Cai Province. This entity, operating under Tax Code (TIN): 0100103087-008, has been active since August 2, 2007, specializing in the manufacture of precious and non-ferrous metals, particularly copper.

Despite its strategic importance in Vietnam’s metal refining industry, this branch of VINACOMIN displays deep financial imbalances. While revenue for 2023 totaled USD 243.2 million, showing a 16.83% decrease from the previous year, the company returned to profitability with a net income of USD 6.97 million, after a significant loss in 2022.

The underlying issues, however, remain critical. Most notably, the company reports zero owner’s equity and a net worth of negative USD 2,909—a serious structural weakness. Its working capital was negative USD 5.92 million, signaling liquidity stress and potential cash flow shortfalls. Additionally, total assets dropped nearly 18.5% year-over-year, to USD 144.72 million, continuing a downward trajectory.

Owned by Mr. Hoang Ngoc Minh, this branch is part of the broader VINACOMIN – Minerals Holding Corporation, one of Vietnam’s most prominent state economic groups. Yet the branch’s financial opacity and lack of shareholder transparency only deepen concerns around its sustainability and solvency.

In short, LAO CAI-VIMICO COPPER METALLURGY may be operationally relevant and currently profitable, but its lack of equity, weak capital structure, and unstable asset base pose serious financial risks. Caution is strongly advised for any potential partners or suppliers.

For comprehensive financial verification and industry benchmarking, consult VANGUARD BUSINESS INFORMATION LLC (VBI)—a leading source for accurate business intelligence and risk evaluation in Vietnam’s mining and metallurgy sectors.