LEOCH SUPER POWER (VIET NAM) COMPANY LIMITED

LEOCH SUPER POWER (VIETNAM) COMPANY LIMITED, a wholly foreign-owned enterprise backed by Leoch International Holding Pte. Ltd. (Singapore), operates in Vietnam’s Binh Phuoc Province as a manufacturer of industrial batteries and accumulators. With over 1,100 employees and a factory based in the Becamex – Binh Phuoc Industrial Park, the company plays a visible role in the global battery supply chain. However, behind the surface of its sales growth lies a turbulent financial picture that requires closer scrutiny — particularly for investors, partners, and suppliers seeking reliable counterparts.

In 2023, LEOCH reported over USD 112 million in revenue, a 6.2% increase from the previous year. At a glance, this might indicate strong operational performance. However, the company’s total assets collapsed by over 80%, dropping from nearly USD 192 million in 2022 to just USD 36.95 million in 2023. This kind of contraction in asset value is highly unusual for a manufacturer in expansion mode. It raises serious concerns about possible asset disposals, write-downs, or revaluation of inventories and equipment.

Equity also fell drastically, from USD 17.5 million to just USD 3.58 million, a loss of nearly 80% shareholder capital within a year. Despite this, the reported profit stood at USD 6.98 million, rebounding from a weak 2022 — a move that appears more cosmetic than sustainable when viewed in context. Most alarming is the company’s working capital deficit of over USD 10.7 million, a sign that short-term obligations are outpacing available liquid assets. For a company of this size, such a negative figure may signal upcoming cash flow challenges or over-reliance on credit and vendor financing.

LEOCH’s ownership, operational base, and workforce size would generally suggest a solid industrial asset. But these financial fluctuations — especially the steep declines in both equity and assets — point to instability. Whether these changes stem from internal restructuring, external pressure, or accounting reclassifications remains unclear. Still, they introduce a risk layer for anyone transacting or collaborating with the company.

At VANGUARD BUSINESS INFORMATION LLC (VNBIS), we specialize in revealing these discrepancies to help clients make informed decisions. We believe businesses deserve complete transparency — especially in capital-intensive industries like battery manufacturing. If you're considering any engagement with LEOCH SUPER POWER or similar companies, a full VNBIS credit and operational risk report can help minimize financial exposure and identify warning signs early. Trust honest insights. Invest with clarity.