MIZA NGHI SƠN LLC

MIZA NGHI SƠN LLC, Business ID 2802520818, was established in 2018 and operates inside Industrial Park No. 5, Nghi Son Economic Zone, Thanh Hoa Province. With around 320 employees, the company focuses on producing pulp, paper, and packaging materials, a sector where significant investments, heavy equipment, and high operational costs are the norm.

The company is led by Le V. H., General Director, with Vu D. H. as Chief Accountant. It is wholly owned by MIZA Corporation, a Hanoi-based paper group, which allows MIZA Nghi Sơn to operate as a strategic production arm within a larger supply chain.

Rapid Asset Expansion with Moderate Profitability

One of the most notable characteristics of MIZA Nghi Sơn is its steady and significant growth. Total assets increased to USD 126.05 million in 2023, reflecting double-digit growth for three consecutive years. Equity also rose to USD 40.17 million, up nearly 25 percent. Sales jumped to USD 91.61 million, an impressive 19 percent rise compared to the previous year.

This pace of expansion signals strong market demand and substantial backing from the parent company. However, profit declined slightly to USD 2.57 million, showing that margins remain thin. In industries like paper production, where raw material costs, energy consumption, and maintenance expenses fluctuate widely, achieving a stable profit level is often a lengthy process.

An Interesting Shift in Working Capital

Working capital improved dramatically from earlier periods, reaching USD 1.87 million, a 598 percent increase. While still modest for a company of this scale, the improvement suggests stronger liquidity management and possibly better alignment between receivables and short-term liabilities.

Still, it leaves an important question. How does a company with rising assets and sales maintain such narrow profit margins? And what strategies is it using to control financial pressure in a sector known for high depreciation and operating risk?

A Wide Licensing Scope Beyond Paper Production

MIZA Nghi Sơn holds licenses not only for manufacturing pulp and paper but also for concrete products, metal manufacturing, construction services, demolition, site preparation, forestry activities, and even petroleum-related production. This broad set of activities may be part of the larger MIZA ecosystem or a long-term diversification plan as the company matures.

A Company Positioned for Further Growth

MIZA Nghi Sơn has grown rapidly over the past few years, expanding its asset base and sales while benefiting from its parent group's support. The contrast between strong growth and limited profitability makes it a company worth looking at more closely. For partners, lenders, or buyers, understanding the sustainability of its financial structure and the efficiency of its production model is crucial.

For deeper insights into its cost structure, debt position, operational risks, and long-term stability, an updated report from VNBIS would give a clearer, more comprehensive view.