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RITAR POWER (VIETNAM) COMPANY LIMITED

Active

Business ID 3901227259

84-276 / 3883 567

RITAR POWER (VIETNAM) COMPANY LIMITED

Active

Business ID 3901227259

84-276 / 3883 567

RITAR POWER (VIETNAM) COMPANY LIMITED

Active

Summary

Name:

RITAR POWER (VIETNAM) COMPANY LIMITED

Business ID (TIN):

3901227259

Date of Registration:

14 Jul 2016

Registered Office:

Tay Ninh Province Department of Planning and Investment

Address:

Lot A21, Road C4, Thanh Thanh Cong Industrial Park, An Hoa Ward, Trang Bang Town, Tay Ninh Province, Vietnam

Phone:

84-276 / 3883 567

Financial Statement:

2020, 2021, 2022, 2023, 2024

RITAR POWER (VIETNAM) COMPANY LIMITED is an industrial-scale manufacturer of lead-acid batteries based in Tay Ninh Province, Vietnam. Officially registered under Business ID 3901227259, the company is a Chinese-held Ruida International New Energy (HK) Limited subsidiary, which controls 76% of the ownership. With a headcount of 1,200 employees and a fully foreign-invested legal structure, RITAR POWER (VIETNAM) COMPANY LIMITED positions itself as a key exporter in Vietnam’s fast-growing energy storage and battery sector.

Chairwoman Peng H. Y. drives the company's leadership, which is supported by Managing Director Xiao L. Q. and Chief Accountant Nguyen H. P. T. Together, they oversee a business that, on the surface, appears robust—with solid asset expansion and high-volume revenue. As of 2023, the firm reported total assets of over USD 81.6 million, sales revenue of nearly USD 123.8 million, and equity amounting to approximately USD 55.9 million.

However, a closer inspection reveals an organization walking a tightrope between stability and stagnation. Revenue has plateaued—falling marginally by 0.69% in 2023 compared to the previous year. While a flat top line may not sound alarming, it signals missed growth opportunities in a market where energy storage demand is booming. Even more concerning is the profit decline. After a strong rebound in 2022, profits dropped by over 10% in 2023, down to USD 16.8 million. This downward trend raises questions about rising input costs, operational inefficiencies, or growing price pressures from competitors across Asia.

Asset growth has continued steadily, rising by 10% in 2023, which may reflect investment in equipment or inventory buildup. Yet, without proportional gains in revenue or profitability, such asset growth could suggest underutilized capacity or less-than-optimal capital deployment. Equity growth, while positive at nearly 12%, has significantly decelerated from the previous year’s 57.7% spike. This deceleration might indicate a plateau in retained earnings or a conservative shift in financial strategy.

The company is undoubtedly well-capitalized, and its large working capital buffer of over USD 22.6 million provides operational flexibility. Yet, it faces a pivotal moment. The global battery industry is evolving rapidly—toward lithium, renewables, and sustainability benchmarks. Whether RITAR POWER (VIETNAM) COMPANY LIMITED can pivot from its traditional lead-acid focus to match future market shifts remains to be seen.

The financial data above reflects performance only through the end of 2023. For the most current figures, credit insights, and strategic evaluations—including whether the company is adapting to green energy trends—interested parties are encouraged to request a full report from Vanguard Business Information LLC (VNBIS.COM). The truth behind the balance sheet lies not just in numbers—but in how those numbers evolve.

Legal Profile

English Name:

RITAR POWER (VIETNAM) COMPANY LIMITED

Vietnamese Name:

CÔNG TY TNHH RITAR POWER (VIỆT NAM)

Short Name:

RITAR VIETNAM

Business ID (TIN):

3901227259

Date of Registration:

14 Jul 2016

Registered Office:

Tay Ninh Province Department of Planning and Investment

Ownership Status:

FDI

Operation Status:

Active

Contacts

Key Decision Makers:

+ PENG H.Y

+ XIAO, L

+ NGUYEN H.P.T

Address:

Lot A21, Road C4, Thanh Thanh Cong Industrial Park, An Hoa Ward, Trang Bang Town, Tay Ninh Province, Vietnam

Phone:

84-276 / 3883 567

Business Sector

Key business lines:

VSIC:

2720 Manufacture of batteries and accumulators

NACE:

27.20 Manufacture of batteries and accumulators

Industry Sales Growth

CAGR (2019 - 2023)

10.36%

YoY (2023)

-4.63%

Companies by industry

Company distribution and propportions

272

0.0094%

Key Industry Players

Top 10 companies in manufacture of batteries and accumulators industry

dry cell and storage battery jointstock company le long viet nam company limited samsung sdi vietnam co., ltd vietnam sunergy joint stock company vina cell technology company limited ritar power (vietnam) company limited leoch super power (viet nam) company limited elite solar technology (viet nam) company limited trina solar energy development company limited nwestern solar vietnam co., ltd

Payment History

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Financial Performance

Assets	-5.64%
Owner’s Equity	-14.54%
Working Capital	-20.25%
Net Worth	55.54%
Sales	81.58%
Operating income	-92.54%
EBIT	-42.30%
Gross Profit Margin	-77.66%
Debt to EBITDA	46.21%

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Specific Questions About RITAR POWER (VIETNAM) COMPANY LIMITED

When did RITAR POWER (VIETNAM) COMPANY LIMITED start operating?

RITAR POWER (VIETNAM) COMPANY LIMITED was started in 14 Jul 2016

What industry does RITAR POWER (VIETNAM) COMPANY LIMITED operate in?

RITAR POWER (VIETNAM) COMPANY LIMITED is operating in "Manufacture of batteries and accumulators" industry

How can I contact RITAR POWER (VIETNAM) COMPANY LIMITED?

RITAR POWER (VIETNAM) COMPANY LIMITED phone numbers is 84-276 / 3883 567

What adverse news is there about RITAR POWER (VIETNAM) COMPANY LIMITED?

RITAR POWER (VIETNAM) COMPANY LIMITED’s has no negative news

What is stock symbol of RITAR POWER (VIETNAM) COMPANY LIMITED?

RITAR POWER (VIETNAM) COMPANY LIMITED is not listed company

Where is the location of RITAR POWER (VIETNAM) COMPANY LIMITED?

RITAR POWER (VIETNAM) COMPANY LIMITED is located at Lot A21, Road C4, Thanh Thanh Cong Industrial Park, An Hoa Ward, Trang Bang Town, Tay Ninh Province, Vietnam

What is RITAR POWER (VIETNAM) COMPANY LIMITED’s business registration?

RITAR POWER (VIETNAM) COMPANY LIMITED business registration is 3901227259

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