MXP COMPANY LIMITED

MXP COMPANY LIMITED (Vietnamese name: CÔNG TY TRÁCH NHIỆM HỮU HẠN MXP, abbreviated as MXP CO., LTD) is a privately held one-member limited liability company operating in Vietnam’s garment and apparel manufacturing sector, with a strong focus on sportswear for export. The company was established on 07 December 2017 and is registered with the Thai Binh Province Department of Planning and Investment under Business ID / Tax Identification Number: 1001126166.

MXP’s head office is located at Suite PG2-08A, Vincom Shophouse Thai Binh, Doc Nhuong Street, De Tham Ward, Thai Binh City, Thai Binh Province, Vietnam. The company operates multiple manufacturing facilities in Thai Binh Province, including sites in Nguyen Duc Canh Industrial Park and Quynh Phu District, forming a sizeable industrial footprint in northern Vietnam. With approximately 4,000 employees, MXP is a labor-intensive manufacturer by local standards.

Ownership and Management

MXP is 100% owned by NGUYEN T. P., who concurrently serves as Director and Owner. This ownership structure enables fast decision-making and tight operational control, which can be advantageous in export manufacturing. However, it also implies a high degree of key-person dependency, as strategic direction and capital decisions are concentrated in a single individual.

Business Model and Operations

The company manufactures and processes sportswear and apparel for export, positioning MXP within global apparel supply chains. In addition to its core business, MXP has undertaken a wide range of supplementary activities, including logistics support, packaging, machinery installation, electrical works, and real estate activities. While these registrations provide legal flexibility, garment manufacturing remains the dominant revenue driver.

MXP’s business model is typical of export-oriented apparel producers: high volume, tight margins, and strong dependence on overseas orders, labor availability, and compliance with buyer standards.

Financial Performance Overview

Financial data shows strong revenue growth accompanied by moderating profitability. Total sales increased steadily to approximately USD 76.08 million, continuing a multi-year expansion trend. Total assets declined slightly to USD 31.82 million, reflecting either asset optimization or reduced capital expenditure following prior expansion.

Owner’s equity remained solid at approximately USD 18.65 million, supporting balance-sheet stability. The company reported a net profit of approximately USD 8.11 million, which remained healthy in absolute terms but declined year over year. This profit contraction, despite higher sales, suggests margin pressure, likely driven by rising labor costs, energy prices, compliance expenses, or pricing pressure from international buyers.

Working capital stood at USD 8.87 million, indicating adequate short-term liquidity and the ability to support ongoing operations without immediate financing stress.

Risk Perspective

From a risk assessment standpoint, MXP COMPANY LIMITED presents a generally stable but margin-sensitive profile. Strengths include a large scale of operations, solid equity, positive working capital, and consistent export demand. However, the company is exposed to global apparel demand cycles, labor cost inflation, and buyer concentration risk, all of which can quickly erode margins. The slight decline in profitability despite revenue growth highlights this vulnerability.

In addition, the single-owner structure increases key-person risk and limits governance diversification, which may be relevant for lenders, large buyers, or strategic partners assessing long-term resilience.

A comprehensive and up-to-date company report from VNBIS.COM provides deeper insight into MXP COMPANY LIMITED’s ownership structure, financial trends, and operational risks to support informed commercial and credit decisions.