LC FOODS JOINT STOCK COMPANY

LC FOODS JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN LC FOODS) operates from Lot G4-1 (Area B2), D10 Street, Rach Bap Industrial Park, Tay Nam Ward, Ho Chi Minh City, under Business ID 3702777811. Founded in 2019, LC FOODS JOINT STOCK COMPANY has expanded rapidly in Vietnam’s packaged-food sector, specializing in noodles, spaghetti, dimsum, sausages, and a broad range of processed foods distributed nationwide. 

The company is led by Ms. Huynh V. T. M. L., who serves as General Director and also holds 99.99% ownership, giving her near-total control over strategic and financial decisions. This concentrated ownership results in fast and consistent decision-making but also creates governance risk, as oversight is essentially dependent on one individual. The company maintains around 500 employees and operates additional representative offices in Ho Chi Minh City and Hanoi, indicating active commercial expansion across regions.

Financially, LC FOODS JOINT STOCK COMPANY demonstrates strong top-line growth but weakening earnings quality. Sales climbed significantly to USD 87.79 million in 2023, growing nearly 49% year-on-year, while assets also expanded to USD 36.3 million, an increase of more than 43%. However, despite this momentum, profit fell 20%, dropping to USD 288,945—a margin far too thin for a company of this scale. Even more concerning is the negative working capital of USD -642,254, which signals short-term liquidity pressure and potential difficulty covering operational obligations. 

From a risk-management perspective, the mismatch between aggressive growth and declining profitability is notable. Rapid asset and revenue expansion without a corresponding rise in net income suggests possible overextension, high cost volatility, or heavy reliance on debt and short-term payables. The negative working capital further heightens financial vulnerability, especially in a sector where inventory, raw materials, and logistics require substantial operating cash.

In summary, LC FOODS JOINT STOCK COMPANY is an ambitious and fast-growing food manufacturer with expanding market presence, but its financial profile reveals growing pressures beneath the surface. Stakeholders should closely monitor liquidity, debt obligations, and profitability trends before entering long-term supply or credit agreements.