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QH PLUS STEEL STRUCTURE CORPORATION

Active

Business ID 3502378760

84-254 / 3933 088

QH PLUS STEEL STRUCTURE CORPORATION

Active

Business ID 3502378760

84-254 / 3933 088

QH PLUS STEEL STRUCTURE CORPORATION

Active

Summary

Name:

QH PLUS STEEL STRUCTURE CORPORATION

Business ID (TIN):

3502378760

Date of Registration:

06 Nov 2018

Registered Office:

Ba Ria - Vung Tau Province Department of Planning and Investment

Address:

Road No. 03, My Xuan B1 Industrial Park, My Xuan Ward, Phu My Town, Ba Ria - Vung Tau Province, Vietnam

Phone:

84-254 / 3933 088

Financial Statement:

2020, 2021, 2022, 2023, 2024

Executive Summary

QH PLUS STEEL STRUCTURE CORPORATION (Công Ty Cổ Phần Kết Cấu Thép QH PLUS) is a privately held Vietnamese joint stock company specializing in the manufacture and installation of steel structures, including pre-engineered steel buildings. With more than six years of operation since its registration in 2018, QHPS has emerged as a vital player in the country's industrial construction and structural steel supply chain. It is a subsidiary of QH Plus Corporation and benefits from strategic partnerships with both domestic and foreign investors, including Koizumi Co., Ltd. of Japan.

Management and Corporate Structure

The company is led by Mr. Nguyen Hoang Huan, who holds the position of General Director. Supporting him in key roles are Ms. Le Huynh Hoang Van Anh, Chief Accountant, and Mr. Vo Hieu Tan Quang, Production Manager. QHPS employs a workforce of 877 employees, underscoring its medium-scale manufacturing capabilities. The company’s charter capital as of 31 December 2023 was fully paid at USD 11.3 million, reflecting a strong equity base.

Financial Performance

QHPS reported a substantial increase in scale and activity in 2023. Total assets reached USD 161.59 million, rising by 60.66% year-over-year, indicating significant investment in capacity expansion or asset acquisition. Total sales stood at USD 185.27 million, a 64.68% increase, reflecting a strong market demand for steel structure products. However, net profit declined to USD 1.26 million, representing a 30.89% decrease from the previous year. This contraction in profitability amidst rapid growth may point to rising input costs or higher capital expenditure. Meanwhile, owner’s equity increased slightly by 3.93% to USD 18.52 million, showing moderate internal capital accumulation. The company’s working capital was reported at USD 800,761, which, while positive, suggests potential liquidity constraints relative to operating scale.

Shareholding Structure

As of the latest shareholder update (15 March 2023), QH PLUS CORPORATION owns 46.18% of the company, making it the largest shareholder. It is followed by QH PLUS INDUSTRIAL JSC with 32.73%, and Japan-based KOIZUMI CO., LTD, holding 20.73%. The presence of a strategic foreign partner suggests a technology transfer advantage and access to international markets. A minority stake of 0.36% is held by an individual investor, Ms. Nguyen Thi Tuyet Thu.

Business Activities and Industrial Position

The company’s core business involves steel structure manufacturing, machining, metal treatment, and coating services. It also engages in metal fabrication, construction of residential and industrial buildings, and engineering consultancy services. Additionally, QHPS operates in warehousing, plumbing and HVAC installation, site preparation, and demolition, indicating a full-spectrum industrial services portfolio.

The company operates from its head office in Ba Ria-Vung Tau and has a commercial presence in Ho Chi Minh City at 181 Nguyen Huu Canh Street, a location shared with its parent, QH Plus Corporation.

Evaluation and Recommendation

With double-digit revenue and asset growth, QH PLUS STEEL STRUCTURE CORPORATION demonstrates a robust expansion trajectory. However, the sharp decline in profit despite increased revenues raises questions about cost control, production efficiency, and possible capital overhead. For investors, suppliers, and partners, QHPS presents both growth potential and risk exposure. Analyzing financial sustainability and operational resilience is essential for engaging with this company.

To gain full clarity, stakeholders are encouraged to obtain a comprehensive company report, access financial due diligence, and perform risk analysis, all of which are available through VANGUARD BUSINESS INFORMATION LLC (VBI). VBI specializes in delivering accurate company financial data, risk management services, and business intelligence solutions tailored to Vietnam’s complex industrial landscape.

Legal Profile

English Name:

QH PLUS STEEL STRUCTURE CORPORATION

Vietnamese Name:

CÔNG TY CỔ PHẦN KẾT CẤU THÉP QH PLUS

Short Name:

QHPS

Business ID (TIN):

3502378760

Date of Registration:

06 Nov 2018

Registered Office:

Ba Ria - Vung Tau Province Department of Planning and Investment

Ownership Status:

Privately held

Operation Status:

Active

Contacts

Key Decision Makers:

+ NGUYEN T.T.T

+ NGUYEN H.H

+ LE H.H.V.A

+ VO H.T.Q

Address:

Road No. 03, My Xuan B1 Industrial Park, My Xuan Ward, Phu My Town, Ba Ria - Vung Tau Province, Vietnam

Phone:

84-254 / 3933 088

Other:

No. 181, Nguyen Huu Canh Street, Ward 22, Binh Thanh District, Ho Chi Minh City, Vietnam

Business Sector

Key business lines:

VSIC:

2592 Machining; treatment and coating of metals

NACE:

25.6 Treatment and coating of metals; machining

Industry Sales Growth

CAGR (2019 - 2023)

5.30%

YoY (2023)

1.27%

Companies by industry

Company distribution and propportions

19,789

0.6806%

Key Industry Players

Top 10 companies in machining; treatment and coating of metals industry

ns bluescope vietnam limited ton dong a corporation cl-th steel limited liability company amecc mechanical construction joint stock company minh ngoc company limited smc tan tao company limited siba high-tech mechanical group joint stock company qh plus steel structure corporation yongjin metal technology (vietnam) company limited the anh steel company limited

Payment History

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Financial Performance

Assets	49.83%
Owner’s Equity	-29.67%
Working Capital	38.15%
Net Worth	86.92%
Sales	-30.52%
Operating income	49.38%
EBIT	27.86%
Gross Profit Margin	-13.51%
Debt to EBITDA	-46.38%

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Negative Payment Records

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Opinion from Analysts

Specific Questions About QH PLUS STEEL STRUCTURE CORPORATION

When did QH PLUS STEEL STRUCTURE CORPORATION start operating?

QH PLUS STEEL STRUCTURE CORPORATION was started in 06 Nov 2018

What industry does QH PLUS STEEL STRUCTURE CORPORATION operate in?

QH PLUS STEEL STRUCTURE CORPORATION is operating in "Machining; treatment and coating of metals" industry

How can I contact QH PLUS STEEL STRUCTURE CORPORATION?

QH PLUS STEEL STRUCTURE CORPORATION phone numbers is 84-254 / 3933 088

What adverse news is there about QH PLUS STEEL STRUCTURE CORPORATION?

QH PLUS STEEL STRUCTURE CORPORATION’s has no negative news

What is stock symbol of QH PLUS STEEL STRUCTURE CORPORATION?

QH PLUS STEEL STRUCTURE CORPORATION is not listed company

Where is the location of QH PLUS STEEL STRUCTURE CORPORATION?

QH PLUS STEEL STRUCTURE CORPORATION is located at Road No. 03, My Xuan B1 Industrial Park, My Xuan Ward, Phu My Town, Ba Ria - Vung Tau Province, Vietnam

What is QH PLUS STEEL STRUCTURE CORPORATION’s business registration?

QH PLUS STEEL STRUCTURE CORPORATION business registration is 3502378760

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QH PLUS STEEL STRUCTURE CORPORATION