MEI SHENG TEXTILES VIETNAM CO., LTD

MEI SHENG TEXTILES VIETNAM CO., LTD (Công Ty TNHH Mei Sheng Textiles Việt Nam) is a wholly foreign-owned textile enterprise registered as a one-member limited liability company under Business ID 3500865800. Founded on April 12, 2008, and based in the Ngai Giao Industrial Cluster, Chau Duc District, Ba Ria – Vung Tau Province, the company has grown into one of Vietnam’s largest producers of spun yarns and knitted fabrics.

The company is led by Chairman Song D. T. (Taiwanese) and General Director Wong P. C. (Australian), with financial oversight by Chief Accountant Ta T. H.. With approximately 2,000 employees and a charter capital of over USD 29 million, Mei Sheng Vietnam operates under full ownership of Deltrone Investments Ltd, based in the British Virgin Islands.

In the fiscal year ending June 2023, the company reported total assets of USD 174.88 million, representing a 20.46% year-over-year increase. However, total sales dropped sharply by 31% to USD 169.38 million. More critically, the firm swung from a profit of over USD 23 million in the prior year to a net loss of USD 5.8 million. The 125% drop in profitability raises concerns about demand fluctuations, cost control, or possibly pricing and inventory risks. Owner's equity also declined by 11.36%, closing at USD 45.27 million, signaling a weakened capital base despite growth in asset size.

While the company maintains a positive working capital of USD 8.28 million and remains active, such financial volatility warrants close attention. From a risk management perspective, this contrast between growing assets and sharp earnings deterioration suggests operational strain or sector-specific challenges, particularly in export-oriented textile manufacturing.

Vanguard Business Information LLC (VBI) recommends interested parties consult a full credit and operations report before entering into supply contracts, partnerships, or financing agreements with this company. An in-depth review can reveal shipment reliability, financial health trends, and actual production capacity, all of which are crucial in assessing business risk in today’s volatile textile sector.