LONG THUAN GROUP CORPORATION

LONG THUAN GROUP CORPORATION: A High-Growth Fuel Trader Facing Deep Financial Turmoil

LONG THUAN GROUP CORPORATION (CÔNG TY CỔ PHẦN TẬP ĐOÀN LONG THUẬN), widely known as LONG THUAN GROUP, is a Vietnamese joint stock company that operates in the wholesale of fuel products, agricultural commodities, and logistics services. Registered under business ID 3603483225 and established on August 18, 2017, the company is headquartered in Swanbay Zone 4, Dai Phuoc Island, Nhon Trach District, Dong Nai Province. Despite remarkable top-line growth and expanding asset base, LONG THUAN GROUP CORPORATION has entered a severe financial downturn marked by negative equity and multi-million-dollar losses.

Legal Status and Ownership Structure

LONG THUAN GROUP CORPORATION is a privately held joint stock company with a registered and paid-up charter capital of approximately USD 24.65 million. The ownership is overwhelmingly concentrated, with Mr. DUONG THANH HAI—also serving as Chairman—holding 99% of the shares. The remaining ownership is split between Mr. NGUYEN DUY THANH (0.9%) and Mr. NGUYEN THAI NGOC (0.1%).

The company is officially registered with the Dong Nai Province Department of Planning and Investment and maintains an active status, operating through its main office and a representative branch in Ho Chi Minh City.

Management and Human Resources

The company’s executive team includes Chairman DUONG THANH HAI and General Director Ms. NGUYEN THI KIM PHO, overseeing a staff of approximately 200 employees. Their leadership is tasked with navigating the business through a period of rapid expansion but mounting financial distress.

Business Operations and Scope

LONG THUAN GROUP CORPORATION is engaged in multiple business lines with core activities focusing on the trading of coal, biomass fuels, and key agricultural exports such as pepper, cashew, coffee, and rubber. The company is also involved in port services, warehousing, and logistics investments—highlighting its strategic role in Vietnam’s fuel supply chain and export-oriented commodity logistics.

Registered activities are extensive and diversified, covering metals trading, agricultural raw materials, fabricated metal repair, road transport, travel agency services, and even brokerage of commodity contracts. This broad registration reflects ambitions to build a vertically integrated logistics and fuel supply conglomerate.

Financial Performance

While the company's sales and asset base have seen impressive year-over-year growth, the financial picture is critically imbalanced:

• Total Assets (2023): USD 169.41 million (↑ 51.26%)

• Total Sales (2023): USD 206.43 million (↑ 29.59%)

• Profit (2023): USD -23.2 million (↓ 115.64%)

• Owner’s Equity (2023): USD -7.2 million (↓ 146.53%)

• Working Capital: USD -24.74 million

This data indicates that despite robust revenue and asset expansion, LONG THUAN GROUP CORPORATION is hemorrhaging money and is now operating with negative equity and working capital. The financial trajectory—profit falling from a positive USD 763,863 in 2021 to a loss of over USD 23 million in 2023—raises urgent red flags about liquidity, solvency, and capital erosion.

Strategic Assessment

LONG THUAN GROUP CORPORATION is a textbook case of over-expansion without financial stabilization. The firm’s aggressive scaling in assets and revenue has not translated into profitability or sustainability. Negative equity and high accumulated losses could compromise supplier trust, creditworthiness, and long-term operational viability.

Given the volatility of fuel prices, global logistics dynamics, and the capital-intensive nature of the company’s activities, stakeholders should approach with caution. Before committing to any partnership, credit line, or contract, a full financial risk evaluation is recommended.

VANGUARD BUSINESS INFORMATION LLC (VBI) offers comprehensive services tailored for such high-risk cases, including business verification, credit risk assessment, litigation screening, and debt exposure evaluations—essential tools when engaging with companies like LONG THUAN GROUP CORPORATION.