NAM VIET JOINT-STOCK COMPANY (CÔNG TY CỔ PHẦN NAM VIỆT)

NAM VIET JOINT-STOCK COMPANY, Business ID 4600305924, is a Thai Nguyen–based manufacturer specializing in animal feed for cattle, poultry, and aquatic species. Founded in 2002 and led by Ha Van An, the company has grown into a diversified agribusiness with activities ranging from feed production and livestock farming to petroleum retail and warehousing services.

In 2024, Nam Viet generated USD 94.04 million in revenue, with profit jumping sharply to USD 1.97 million—a remarkable 317.95% increase year-on-year. Total assets rose slightly to USD 45.86 million, while equity expanded to USD 13.16 million, reflecting stronger capitalization and improved operational performance. The company’s positive working capital of USD 4.43 million indicates healthier short-term liquidity than many domestic competitors in the feed industry.

What is particularly interesting is Nam Viet’s ability to scale profit so dramatically in a single year, especially when the broader animal feed market is experiencing tighter margins, volatile input prices, and intense competition from larger foreign-invested players. How did a mid-sized, privately held company achieve such an earnings surge? Was it driven by cost restructuring, improved sales mix, or changes in livestock-farming dynamics in northern Vietnam?

Another intriguing layer lies in Nam Viet’s shareholder structure, dominated by local individuals rather than institutional investors. This raises questions about governance style, decision-making speed, and the company's strategic positioning against national and international rivals.

With substantial revenue, rising equity, and an unexpected leap in profitability, NAM VIET is a company worth examining more closely. An updated full report from VNBIS would help uncover the operational drivers behind this performance and the risks that may not be visible from the headline numbers.