PRESTIGE SPORTS CARS COMPANY LIMITED

PRESTIGE SPORTS CARS COMPANY LIMITED (CÔNG TY TNHH XE HƠI THỂ THAO UY TÍN) is one of Vietnam’s most exclusive automotive distributors, serving as the official importer and distributor of Porsche vehicles in the country. Operating under Business ID 0304806560, the company was established on November 28, 2012, and is headquartered at Lot DVTM-5-6-7, Road No. N1, and Lot DVTM-4, Road No. 7, Southern Commercial Area, Tan Thuan Export Processing Zone, Tan Thuan Dong Ward, District 7, Ho Chi Minh City, Vietnam.

Corporate Structure and Leadership

PRESTIGE SPORTS CARS COMPANY LIMITED is a foreign direct investment (FDI) enterprise, wholly owned by Lei Shing Hong Limited. This Hong Kong-based automotive group represents global luxury car brands across Asia. The company’s charter and paid-up capital are both USD 6.47 million, and it employs around 125 people.

The company is led by Mr. Peer M., General Director, who oversees all business operations, supported by Ms. Bui T. M. L., Chief Accountant. Their leadership has been instrumental in maintaining the brand’s premium positioning in Vietnam’s fast-evolving luxury car market.

Business Operations

Prestige Sports Cars is the sole distributor of Porsche vehicles in Vietnam, managing retail, after-sales services, and customer care for high-net-worth clientele. Its operations span both Ho Chi Minh City and Hanoi, with modern showrooms and service centers designed according to global Porsche standards. In addition to car distribution, the company provides property leasing, general trading, and maintenance services, which support its core automotive operations.

Financial Overview

As of December 31, 2023, the company recorded total assets of USD 77.8 million, representing a 9 percent decline compared to 2022. Owner’s equity rose by 11.62 percent to USD 56.42 million, showing retained strength in capital structure. Sales reached USD 104.09 million, a 33.34 percent decrease from the previous year, primarily due to market contraction and import constraints in Vietnam’s luxury automotive segment. Net profit stood at USD 5.87 million, down 33.83 percent, reflecting lower sales volume and higher operational costs.

Despite these declines, the company’s working capital grew by 13.75 percent to USD 54.9 million, indicating stable liquidity and financial discipline. Over the past three years, Prestige has consistently demonstrated high solvency, maintaining profitability despite cyclical downturns in Vietnam’s automotive import market.

Market and Risk Outlook

Prestige operates in a niche but highly competitive sector that is heavily dependent on Vietnam’s import regulations, tax policies, and foreign exchange conditions. The decline in profit and revenue in 2023 reflects a temporary slowdown rather than structural weakness, as luxury car demand in Vietnam’s upper-income segment remains resilient.

From a credit risk management perspective, Prestige Sports Cars maintains low risk exposure, given its strong equity base, consistent profitability, and full backing from its parent group, Lei Shing Hong Limited. However, ongoing vigilance is necessary regarding import policy shifts and foreign exchange fluctuations that may affect future operations.

According to Vanguard Business Information LLC (VNBIS), PRESTIGE SPORTS CARS COMPANY LIMITED stands as a financially strong and reputable foreign enterprise, combining solid liquidity with a high-value brand portfolio. For business partners and financial institutions, the company represents a low-risk, high-trust counterpart, aligning with VNBIS’s guiding principle of Minimizing Financial Risks and Maximizing Business Opportunities.