S-CONNECT BG VINA CO.,LTD

S-CONNECT BG VINA CO., LTD (CÔNG TY TNHH S-CONNECT BG VINA) is a South Korean-owned enterprise operating in the northern industrial hub of Bac Giang Province, Vietnam. Founded on March 14, 2017, this one-member limited liability company specializes in the manufacture of electronic components and boards, primarily for mobile phones. With over 1,200 employees and located at Lot CN-17, Van Trung Industrial Park, Viet Yen Town, S-CONNECT BG VINA plays an important role in the broader ecosystem of Vietnam’s burgeoning electronics sector.

Owned 100% by S-CONNECT CO., LTD of South Korea, the company has steadily increased its production capacity and asset base. However, recent financial results suggest that while top-line growth continues, the company is grappling with tightening profit margins, potentially due to global supply chain disruptions, rising input costs, or shifts in consumer electronics demand.

Financial Performance and Risk Indicators

In 2024, S-CONNECT BG VINA achieved USD 196.94 million in revenue, an 8.06% increase from the previous year. The company’s total assets reached USD 86.02 million, up 6.16%, while owner’s equity climbed by 6.59% to USD 40.98 million. These figures reflect consistent growth and capital reinforcement.

However, net profit fell sharply to just USD 2.53 million, a dramatic 70.59% decline year-over-year, following relatively stable earnings in the two preceding years. This steep decline in profitability—despite rising revenues and assets—warrants concern from a risk management perspective. It suggests inefficiencies or margin pressures that, if unresolved, could threaten long-term sustainability.

From a liquidity standpoint, the company maintains a working capital of USD 13.46 million, a modest buffer relative to its scale. While sufficient for operational needs, the deteriorating bottom line highlights the importance of maintaining close scrutiny of private financial data, especially when extending trade credit or negotiating long-term supplier agreements.

Governance and Operations

Mr. Shon Seongmok, a South Korean national, serves as both General Director and company representative, while Ms. Luu Thi Thuong, a Vietnamese national, serves as Chief Accountant. This cross-national management structure reflects the company’s integration of Korean leadership with Vietnamese operational oversight.

With its core business centered on electronic component manufacturing for mobile devices, S-CONNECT BG VINA operates in a highly competitive and technologically dynamic field. In addition to electronics, the company is also licensed to manufacture fabricated metal products, thereby expanding its industrial capabilities.

Business Verification and Litigation Considerations

As a foreign-invested enterprise (FIE) with significant asset holdings and fluctuating profits, business verification services are essential for partners, suppliers, and credit insurers. Confirming the legal status, ownership structure, and operational consistency of firms like S-CONNECT BG VINA ensures transparency and informed risk evaluation.

Stakeholders should also examine Vietnam Litigation Reports and contract compliance histories to assess potential exposure to disputes, regulatory violations, or labor issues, especially in sectors with intensive labor requirements and export dependency. Tools offered by VANGUARD BUSINESS INFORMATION LLC (VBI) , such as Risk Management Services and Company Credit Reports, are critical for minimizing exposure and facilitating confident trade and investment decisions.

Outlook

S-CONNECT BG VINA CO., LTD continues to be a significant industrial contributor to Vietnam’s electronics sector, backed by foreign capital and expanding production capabilities. However, its sharp decline in profitability amid rising revenue signals an urgent need for cost optimization, supply chain stability, and margin protection.

For those evaluating partnerships or extending credit, S-CONNECT represents a company with strong fundamentals but elevated operational risks, which should be closely monitored using robust financial intelligence and risk assessment frameworks.