NEW WIDE (VIETNAM) ENTERPRISE CO., LTD

NEW WIDE (VIETNAM) ENTERPRISE CO., LTD (CÔNG TY TRÁCH NHIỆM HỮU HẠN NEW WIDE (VIỆT NAM)) is a foreign-invested textile manufacturer operating in Tay Ninh Province, with a core focus on the production of knitted, crocheted, and non-woven fabrics. Established in 2015 and located in Phuoc Dong Industrial Park, the company has developed into a sizable upstream supplier within Vietnam’s textile and garment supply chain, employing around 1,000 workers.

The company operates as a one-member limited liability company with full FDI ownership and is controlled by an overseas parent entity. Its registered capital exceeds USD 55 million, reflecting a capital-intensive production model typical of fabric manufacturing and dyeing operations.

From a financial perspective, New Wide shows strong balance-sheet capacity but clear signs of cyclical pressure. By the end of 2023, total assets stood at approximately USD 105 million, while equity reached about USD 81.5 million, indicating a high equity ratio and relatively low leverage. Working capital remained solid at approximately USD 33.5 million, providing liquidity to support ongoing operations.

However, revenue and profitability have been under pressure. Total sales declined to around USD 88.7 million in 2023, down nearly 15 percent year on year, while net profit fell to just over USD 2.0 million, continuing a sharp drop from earlier peak levels. This trend reflects broader challenges in the textile sector, including weaker global demand, pricing pressure, and rising compliance and operating costs.

Overall, NEW WIDE (VIETNAM) ENTERPRISE CO., LTD remains a financially solid, asset-heavy textile manufacturer, but its declining revenue and compressed margins highlight the growing risks facing fabric producers exposed to global apparel cycles and export-market volatility.