LENS TECHNOLOGY (VIETNAM) COMPANY LIMITED

LENS TECHNOLOGY (VIETNAM) COMPANY LIMITED (CÔNG TY TNHH CÔNG NGHỆ LENS VIỆT NAM): Growth Amid Profit Decline in Vietnam’s Electronics Manufacturing Sector

LENS TECHNOLOGY (VIETNAM) COMPANY LIMITED (CÔNG TY TNHH CÔNG NGHỆ LENS VIỆT NAM) is a foreign-invested enterprise operating in Bac Giang Province, specializing in the production of lenses, glass components, and electronic modules used in smartphones, tablets, laptops, and automobiles. Established in June 2017 under the Business ID 2400816526, the company is a wholly owned subsidiary of LENS INTERNATIONAL (HK) LIMITEDfrom Hong Kong.

📦 Rising Sales and Assets, But Shrinking Profits

In 2023, LENS TECHNOLOGY (VIETNAM) COMPANY LIMITED reported USD 426.6 million in total sales, a 10.29% increase over 2022, and USD 434.97 million in total assets, up 15.86% year-over-year. These figures indicate steady expansion in operations, supported by rising demand for consumer electronics components.

However, despite this growth, the company’s net profit dropped by 21.6%, down to USD 29.6 million, reversing a two-year upward trend. This drop could reflect increasing production costs, margin compression, or pricing pressures from global customers. While the revenue numbers are strong, the profit decline suggests room for operational efficiency improvements or potential external headwinds impacting the bottom line.

🏭 Large Workforce and Diverse Manufacturing Scope

Employing around 5,500 workers, the company operates from multiple facilities in Quang Chau Industrial Park in Bac Giang. Its product scope is wide-ranging: from lenses and glass for mobile devices to fingerprint modules, camera parts, and components for vehicles, making it a versatile supplier in both consumer electronics and automotive electronics.

The company also lists registered business activities in repair services, optical equipment, plastics manufacturing, and communication equipment, showcasing a diverse industrial license portfolio. This could provide room for future diversification but may also require careful focus on core competencies to maintain profitability.

📉 Mixed Equity Trends and Investment Observations

The company’s owner’s equity grew by 15.67% in 2023, a positive sign of retained earnings or new capital infusion. However, the fact that profit fell even as equity rose may point to financing strategies or accounting adjustments that stakeholders should examine further. The paid-up capital stood at USD 151.2 million by the end of 2023, with the charter capital reported as over USD 237 million, leaving a notable gap that may reflect delayed capital contributions or phased investment commitments.

👤 International Management, Local Execution

General Director Mr. Lee Kwan Yeon (South Korean) leads the company, supported by Vietnamese Chief Accountant Ms. Ta Thi Huong, indicating a blend of international leadership and local operational expertise. This structure is common among foreign-invested enterprises in Vietnam and can help bridge cultural and regulatory differences in the production environment.

🔍 Verification and Risk Review Recommended

Given the company’s growth and its profit decline, partners, suppliers, and investors are advised to perform thorough due diligence. To verify the credibility and assess the risks associated with LENS TECHNOLOGY (VIETNAM) COMPANY LIMITED, it is advisable to use Vanguard Business Information (VBI). VBI’s Business Verification and Risk Management Service provides objective assessments on financial health, legal compliance, and creditworthiness.

⚖️ Final Thoughts

LENS TECHNOLOGY (VIETNAM) COMPANY LIMITED is clearly a major player in Vietnam’s electronics supply chain with growing sales and strong industrial capabilities. However, the recent drop in profitability signals that growth is not without challenges. For any parties considering a business relationship with this company, a balanced review of its financial stability and operational risks is essential.