PROLooking for more than just a company report? Upgrade to Pro now

POWERLOGICS BA THIEN VINA COMPANY LIMITED

Active

Business ID 2500600471

84-211 / 3888051 / 53

POWERLOGICS BA THIEN VINA COMPANY LIMITED

Active

Business ID 2500600471

84-211 / 3888051 / 53

POWERLOGICS BA THIEN VINA COMPANY LIMITED

Active

Summary

Name:

POWERLOGICS BA THIEN VINA COMPANY LIMITED

Business ID (TIN):

2500600471

Date of Registration:

21 Mar 2018

Registered Office:

Vinh Phuc Province Department of Planning and Investment

Address:

Lot C1, Ba Thien II Industrial Park, Thien Ke Commune, Binh Xuyen District, Vinh Phuc Province, Vietnam

Phone:

84-211 / 3888051 / 53

Financial Statement:

2020, 2021, 2022, 2023, 2024

1. High Negative Working Capital – Liquidity Risk

One of the most notable red flags in the company’s financial structure is its negative working capital of approximately USD 9.47 million. While the company has achieved rapid revenue growth, this negative balance indicates that current liabilities exceed current assets. This raises concerns about short-term liquidity and the company’s ability to meet its immediate operational and financial obligations without external support or additional financing. If not addressed, this could create pressure on cash flow, particularly in volatile market conditions or periods of slower sales.

2. Volatile Profitability History – Earnings Stability Risk

Although the company recorded a profit of USD 1.93 million in 2023, it had two consecutive years of significant lossesprior to that. The turnaround is notable, but the historical volatility suggests an underlying vulnerability in cost management, pricing power, or market stability. Such fluctuations may signal operational inefficiencies or a business model highly sensitive to demand cycles and supply chain disruptions.

3. Rapid Growth in Sales and Assets – Operational and Financing Risk

Total assets have expanded rapidly over the past three years, and revenue grew more than 40% in the latest period. While this is a positive indicator of expansion, fast growth can outpace internal controls, leading to increased credit exposure, inventory management issues, and higher pressure on working capital. Without robust financial management and forecasting, this growth trajectory could increase financial leverage and operational risks.

4. Past Equity Erosion – Capital Structure Risk

The company’s equity base improved sharply in 2023, but this comes after a period of equity erosion due to accumulated losses in prior years. This pattern suggests that the financial structure may still be vulnerable to future downturns. Although equity recovery is a good sign, it also indicates that the company’s capital reserves have been tested in the recent past.

5. Dependence on Parent Company – Strategic and Funding Risk

POWERLOGICS BA THIEN VINA is a wholly owned subsidiary of POWERLOGICS CO., LTD (South Korea). This ownership structure can be advantageous in terms of technology transfer and market access, but it also creates dependency on parent funding or strategic direction. Any changes in the parent company’s global strategy or financial support could directly impact the subsidiary’s stability in Vietnam.

6. Narrow Product Focus – Market Concentration Risk

The company primarily manufactures electronic components such as camera modules, battery modules, protection circuit modules, and smart modules. While these are high-demand products, they are closely tied to the global electronics supply chain, which is sensitive to geopolitical tensions, technological shifts, and consumer electronics demand. A slowdown in this sector could have a significant impact on the company’s revenue and margins.

Summary of Key Financial Risks

Short-term liquidity risk due to significant negative working capital.
Earnings volatility from a history of large losses followed by a single profitable year.
Operational risk linked to rapid growth in assets and sales.
Capital structure fragility, with improved equity but a record of past erosion.
Parent company dependency, which can both stabilize and expose the business.
Market concentration risk tied to the global electronics industry.

Risk Management Considerations

Strengthen working capital management through tighter receivables, inventory control, and supplier financing strategies.
Diversify product lines or market segments to mitigate demand risk.
Establish a financial buffer to address potential cash flow shortages.
Reinforce governance and internal controls to manage rapid growth.
Develop contingency plans in case of changes in parent company support.

In conclusion, while POWERLOGICS BA THIEN VINA shows strong recent growth and improving profitability, its financial risk profile remains sensitive, particularly around liquidity, profit stability, and market dependency. Proactive financial risk management will be crucial to sustain its current momentum.

Legal Profile

English Name:

POWERLOGICS BA THIEN VINA COMPANY LIMITED

Vietnamese Name:

CÔNG TY TNHH POWERLOGICS BÁ THIỆN VINA

Short Name:

PLBT CO.,LTD

Business ID (TIN):

2500600471

Date of Registration:

21 Mar 2018

Registered Office:

Vinh Phuc Province Department of Planning and Investment

Ownership Status:

FDI

Operation Status:

Active

Contacts

Key Decision Makers:

JANG D.H

Address:

Lot C1, Ba Thien II Industrial Park, Thien Ke Commune, Binh Xuyen District, Vinh Phuc Province, Vietnam

Phone:

84-211 / 3888051 / 53

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

Purchase the report to access company details.

Financial Performance

Assets	43.06%
Owner’s Equity	-60.84%
Working Capital	-71.01%
Net Worth	8.14%
Sales	-73.96%
Operating income	87.58%
EBIT	54.29%
Gross Profit Margin	30.16%
Debt to EBITDA	24.81%

📈 📊

Company Reports

Company Profile Report

Legal Profile

Contact and Location

Legal Representative

Shareholders

Business Operation

Assets

Owner's Equity

Sales

Profit

Company Standard Report

Legal Profile

Business Locations

Legal Representative

EBT

EBITDA

Working Capital

Tangible Net Worth

Financial Ratios

Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Comprehensive Report

Report Summary

Legal Profile

Historical Information

Business Locations

Subsidiary and Affiliated Company

Management and Directors

Shareholders

Business Operation

Suppliers

Buyers

Credit Limit

Industry Information

Key Industry Players

Competitors

Negative Payment Records

Banking Information

Litigation Records; Negative News

Financial Ratios

Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Opinion from Analysts

Specific Questions About POWERLOGICS BA THIEN VINA COMPANY LIMITED

When did POWERLOGICS BA THIEN VINA COMPANY LIMITED start operating?

POWERLOGICS BA THIEN VINA COMPANY LIMITED was started in 21 Mar 2018

What industry does POWERLOGICS BA THIEN VINA COMPANY LIMITED operate in?

POWERLOGICS BA THIEN VINA COMPANY LIMITED is operating in "Manufacture of electronic components and boards" industry

How can I contact POWERLOGICS BA THIEN VINA COMPANY LIMITED?

POWERLOGICS BA THIEN VINA COMPANY LIMITED phone numbers is 84-211 / 3888051 / 53

What adverse news is there about POWERLOGICS BA THIEN VINA COMPANY LIMITED?

POWERLOGICS BA THIEN VINA COMPANY LIMITED’s has no negative news

What is stock symbol of POWERLOGICS BA THIEN VINA COMPANY LIMITED?

POWERLOGICS BA THIEN VINA COMPANY LIMITED is not listed company

Where is the location of POWERLOGICS BA THIEN VINA COMPANY LIMITED?

POWERLOGICS BA THIEN VINA COMPANY LIMITED is located at Lot C1, Ba Thien II Industrial Park, Thien Ke Commune, Binh Xuyen District, Vinh Phuc Province, Vietnam

What is POWERLOGICS BA THIEN VINA COMPANY LIMITED’s business registration?

POWERLOGICS BA THIEN VINA COMPANY LIMITED business registration is 2500600471

POWERLOGICS BA THIEN VINA COMPANY LIMITED

POWERLOGICS BA THIEN VINA COMPANY LIMITED

POWERLOGICS BA THIEN VINA COMPANY LIMITED

Summary

1. High Negative Working Capital – Liquidity Risk

2. Volatile Profitability History – Earnings Stability Risk

3. Rapid Growth in Sales and Assets – Operational and Financing Risk

4. Past Equity Erosion – Capital Structure Risk

5. Dependence on Parent Company – Strategic and Funding Risk

6. Narrow Product Focus – Market Concentration Risk

Summary of Key Financial Risks

Risk Management Considerations

Legal Profile

Contacts

Related Entity