NEWTIMES IMPORT EXPORT INDUSTRY SERVICES AND TRADING JOINT STOCK COMPANY

Introduction

Newtimes Import Export Industry Services and Trading Joint Stock Company (Newtimes IST JSC) is an emerging player in Vietnam’s automotive parts industry. Established in 2015, the company has expanded its operations and diversified into various sectors, including wholesale and retail trade of vehicles, accessories, and other industrial goods.

Company Overview

• Company Name: Newtimes Import Export Industry Services and Trading Joint Stock Company (Công Ty Cổ Phần Dịch Vụ Thương Mại Công Nghiệp Và Xuất Nhập Khẩu Newtimes)

• Business ID: 0106888392

• Head Office: 8th Floor, Sun City Building, No. 13, Hai Ba Trung Street, Trang Tien Ward, Hoan Kiem District, Ha Noi City, Vietnam

• Transaction Office: 4th Floor, Vincom Plaza Long Bien Shopping Center, Chu Huy Man Street, Phuc Loi Ward, Long Bien District, Ha Noi City, Vietnam

• Phone: +84 372 609 840

• Ownership: Privately held

Financial Performance

Despite revenue growth, Newtimes IST JSC faced profitability challenges in 2023:

• Total Sales (2023): USD 130.7 million (+20.44% YoY)

• Total Assets (2023): USD 530.5 million (+9.83% YoY)

• Profit (2023): USD -2.1 million (-136.92% YoY)

• Equity (2023): USD 49.79 million (-4.06% YoY)

While sales continue to grow, a net loss indicates financial restructuring may be needed.

Business Activities

Newtimes IST JSC specializes in various automotive and industrial-related sectors:

1. Automobile Parts Trading: Key supplier of VINFAST automobile parts.

2. Wholesale and Retail: Trading of motor vehicles, accessories, small cars, motorcycles, and industrial machinery.

3. Commission and Brokerage Services: Working as commission agents for automotive products.

4. Maintenance and Repair Services: Providing vehicle and motorcycle repair services.

5. Other Trade Activities: Engaged in food, textiles, electronics, construction materials, and warehousing services.

Leadership

• General Director: Ms. Luong Thi Lan Huong (Vietnamese Nationality)

Under her leadership, the company has expanded its footprint in Vietnam’s growing automotive sector.

Shareholders

• Ms. Luong Thi Lan Huong (40%) – Hanoi, Vietnam

• Mr. Luu Chi Hieu (30%) – Hanoi, Vietnam

• Ms. Hoang Thi Lan Anh (30%) – Ho Chi Minh City, Vietnam

Conclusion

Both Michelin Vietnam and Newtimes IST JSC are significant players in Vietnam’s automotive and industrial markets. Michelin continues to uphold its reputation as a global tyre leader, while Newtimes IST JSC is aggressively expanding in the country’s automotive parts and accessories sector. With strategic investment and financial improvements, both companies hold strong potential for growth in their respective industries.

For more details:

• Visit Michelin Vietnam

• Contact Newtimes IST JSC at +84 372 609 840