PHU TAI JOINT STOCK COMPANY

PHU TAI JOINT STOCK COMPANY (Vietnamese: CÔNG TY CỔ PHẦN PHÚ TÀI), trading on the Ho Chi Minh City Stock Exchange under the symbol PTB, is a publicly held Vietnamese enterprise operating in multiple sectors, including furniture and stone manufacturing, real estate, and automobile services. Officially registered on December 30, 2004, the company holds Business ID and Tax Code 4100259236 and is headquartered at No. 278, Nguyen Thi Dinh Street, Nguyen Van Cu Ward, Quy Nhon City, Binh Dinh Province, Vietnam. It maintains active branches in both Ho Chi Minh City and other parts of Binh Dinh Province.

At its core, PHU TAI JOINT STOCK COMPANY engages in the manufacturing and trading of wood and stone products, along with involvement in civil construction, real estate trading, and TOYOTA automobile distribution and servicing. With a workforce of over 6,300 employees, the company operates under the leadership of Chairman Mr. Le Vy and Deputy Chairman cum General Director Mr. Le Van Thao.

The company reported USD 230.83 million in sales for the fiscal year ending December 31, 2023, which marks a decline of 18.41% year-over-year. This drop comes after two years of previous growth, signaling either weakened market demand, operational inefficiencies, or intensified competition across its sectors. Most concerning is the sharp 41.57% fall in profit, which decreased to USD 12.06 million from over USD 20 million in 2022, a contraction that significantly impacts its return on equity and investor appeal.

While total assets increased slightly by 1.3% to reach USD 218 million, and owner's equity rose 1.8% to USD 115.48 million, the decline in earnings suggests underlying profitability pressures. The company’s working capital stands at USD 25.59 million, which is adequate for current operations but not especially strong in the face of rising costs or future expansion.

Given these financial dynamics, stakeholders are advised to proceed with a clear understanding of the company’s multisector exposure and risk profile. With involvement in industries as diverse as quarrying, construction, automotive sales, and food service, PHU TAI JOINT STOCK COMPANY carries both diversification advantages and complexity-related risks. These challenges necessitate close monitoring, especially in periods of macroeconomic volatility.

For investors, suppliers, or analysts, VANGUARD BUSINESS INFORMATION LLC (VBI) provides comprehensive risk management insights and business verification services that help decode the real financial health behind the numbers. With VBI’s tools, market participants can assess the creditworthiness, earnings stability, and operational transparency of companies like PTB in the broader Vietnamese business ecosystem.

In summary, PHU TAI JOINT STOCK COMPANY remains a relevant enterprise in Vietnam’s manufacturing and trading sectors. However, the substantial drop in revenue and profit in 2023 underlines a need for strategic reassessment and more transparent communication with investors.