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POWER LOGICS VINA CO.,LTD

Active

Business ID 2500509568

84-211 / 3565 222 / 3888 053

POWER LOGICS VINA CO.,LTD

Active

Business ID 2500509568

84-211 / 3565 222 / 3888 053

POWER LOGICS VINA CO.,LTD

Active

Summary

Name:

POWER LOGICS VINA CO.,LTD

Business ID (TIN):

2500509568

Date of Registration:

02 Dec 2013

Registered Office:

Vinh Phuc Province Department of Planning and Investment

Address:

Khai Quang Industrial Park, Khai Quang Ward, Vinh Yen City, Vinh Phuc Province, Vietnam

Phone:

84-211 / 3565 222 / 3888 053

Financial Statement:

2020, 2021, 2022, 2023, 2024

POWER LOGICS VINA CO., LTD (CÔNG TY TNHH POWER LOGICS VINA): A Korean-Backed Electronics Manufacturer Grapples with Shrinking Assets and Growing Losses

POWER LOGICS VINA CO., LTD (CÔNG TY TNHH POWER LOGICS VINA), based in Khai Quang Industrial Park, Vinh Phuc Province, has been operating in Vietnam since December 2, 2013. Registered under Business ID 2500509568, the company is a 100% South Korean-owned enterprise specializing in the production of electronic components for smartphones—including camera modules, IR cameras, actuators, and more. Despite maintaining relatively high revenue levels, its recent financial data reveals a concerning trajectory in profitability and capital structure.

Sales growth offers a silver lining

In 2023, the company generated USD 421.29 million in total revenue, reflecting a 4.71% year-over-year increase from 2022. This is a notable positive given the significant 31.55% decline in revenue reported the year prior. The rebound suggests some stabilization in client demand or order volumes, particularly in mobile component manufacturing, which is highly sensitive to global consumer trends and OEM cycles.

This sales growth stands out as the only clearly positive trend in an otherwise contracting financial profile. It indicates that POWER LOGICS VINA CO., LTD may still be competitively positioned in its core markets, even if profitability and asset management remain issues.

Continued erosion of profit and equity

Despite the uptick in sales, the company reported a net loss of USD 7.52 million in 2023, following a loss of USD 5.91 million in 2022. This represents a further 27.17% decline in profit and reflects a pattern of negative earnings that could soon erode long-term viability if not corrected. Over the last two years, the company has swung from a modest profit of USD 4 million in 2021 to cumulative losses approaching USD 13.5 million.

Simultaneously, owner’s equity declined by 14.56% in 2023, falling to USD 44.11 million. This marks the second consecutive year of shrinking equity and suggests a capital drain that, if sustained, may require recapitalization or restructuring.

Asset contraction and declining capital efficiency

Perhaps the most structural concern is the ongoing decrease in total assets. From USD 193.36 million in 2021, assets fell to USD 118.48 million in 2022, and further down to USD 106.14 million in 2023—a total decline of 45% over two years. This substantial shrinkage raises red flags about fixed asset disposal, inventory reduction, or halted investments, possibly in response to financial strain or changes in global production strategies.

The company’s charter capital is recorded at USD 20 million, with a paid-up capital of USD 18.27 million. With just 910 employees, POWER LOGICS VINA CO., LTD is operating at a medium industrial scale, but its asset-to-labor ratio has declined considerably, pointing to reduced capital intensity or downsizing.

Need for financial transparency and ongoing verification

Given its deteriorating profitability and capital base, stakeholders—including suppliers, customers, and lenders—should be cautious in their engagement with POWER LOGICS VINA CO., LTD. While the company’s link to South Korea’s Power Logics Co., Ltd offers some backing, local operations may not benefit from full parent company guarantees.

To evaluate the real-time financial health, creditworthiness, and operational risk of POWER LOGICS VINA CO., LTD, it is highly advisable to consult the Business Verification and Risk Management Service provided by Vanguard Business Information (VBI). VBI offers exclusive access to private, in-depth financial data on Vietnamese companies, which is particularly valuable in cases like this—where public metrics paint a mixed or declining picture.

An FDI firm under pressure

POWER LOGICS VINA CO., LTD illustrates a case where foreign ownership and technological specialization are not enough to guarantee profitability in Vietnam’s competitive electronics sector. While revenue recovery in 2023 is a bright spot, consistent losses and rapid asset decline reflect deeper challenges. Without operational reform or financial reinforcement, the company's current path poses risk not just to itself but to its partners and service providers as well.

Legal Profile

English Name:

POWER LOGICS VINA CO.,LTD

Vietnamese Name:

CÔNG TY TNHH POWER LOGICS VINA

Short Name:

PLV CO.,LTD

Business ID (TIN):

2500509568

Date of Registration:

02 Dec 2013

Registered Office:

Vinh Phuc Province Department of Planning and Investment

Ownership Status:

FDI

Operation Status:

Active

Contacts

Key Decision Makers:

+ JANG D.H

+ CHOI S.L

+ LEE I.S

+ NGUYEN T.H

Address:

Khai Quang Industrial Park, Khai Quang Ward, Vinh Yen City, Vinh Phuc Province, Vietnam

Phone:

84-211 / 3565 222 / 3888 053

Business Sector

Key business lines:

VSIC:

2610 Manufacture of electronic components and boards

NACE:

26.1 Manufacture of electronic components and boards

Industry Sales Growth

CAGR (2019 - 2023)

4.75%

YoY (2023)

3.18%

Companies by industry

Company distribution and propportions

3,363

0.1157%

Key Industry Players

Top 10 companies in manufacture of electronic components and boards industry

jabil vietnam company limited canon vietnam company limited fuhong precision component(bac giang) company limited intel products vietnam co., ltd samsung electro-mechanics vietnam co.,ltd samsung display vietnam co., ltd. new wing interconnect technology (bac giang) co.,ltd bhflex vina company limited lg innotek vietnam haiphong company limited luxshare - ict (van trung) company limited

Payment History

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Financial Performance

Assets	-86.87%
Owner’s Equity	68.59%
Working Capital	35.83%
Net Worth	85.92%
Sales	74.00%
Operating income	-23.53%
EBIT	86.05%
Gross Profit Margin	86.70%
Debt to EBITDA	-65.76%

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Specific Questions About POWER LOGICS VINA CO.,LTD

When did POWER LOGICS VINA CO.,LTD start operating?

POWER LOGICS VINA CO.,LTD was started in 02 Dec 2013

What industry does POWER LOGICS VINA CO.,LTD operate in?

POWER LOGICS VINA CO.,LTD is operating in "Manufacture of electronic components and boards" industry

How can I contact POWER LOGICS VINA CO.,LTD?

POWER LOGICS VINA CO.,LTD phone numbers is 84-211 / 3565 222 / 3888 053

What adverse news is there about POWER LOGICS VINA CO.,LTD?

POWER LOGICS VINA CO.,LTD’s has no negative news

What is stock symbol of POWER LOGICS VINA CO.,LTD?

POWER LOGICS VINA CO.,LTD is not listed company

Where is the location of POWER LOGICS VINA CO.,LTD?

POWER LOGICS VINA CO.,LTD is located at Khai Quang Industrial Park, Khai Quang Ward, Vinh Yen City, Vinh Phuc Province, Vietnam

What is POWER LOGICS VINA CO.,LTD’s business registration?

POWER LOGICS VINA CO.,LTD business registration is 2500509568

POWER LOGICS VINA CO.,LTD