SHENGLI VIETNAM SPECIAL STEEL COMPANY LIMITED

Among Vietnam’s many foreign-invested manufacturers, SHENGLI VIETNAM SPECIAL STEEL COMPANY LIMITED stands out for one reason in particular: its stunning comeback. After a massive drop in revenue and profit in 2022, the company roared back in 2023 with a 47.6% surge in sales and an astonishing 1213% increase in working capital, signaling not just recovery — but renewed strength.

Legally registered under Business ID and Tax Code 1000440676, SHENGLI was established in 2008 as a limited liability company headquartered in Cau Nghin Industrial Park, Thai Binh Province. Operating with over 1,100 employees and backed by shareholders from mainland China and Hong Kong, the company primarily manufactures construction steel and billets from recycled scrap — an industry both capital-heavy and cyclical, but crucial to infrastructure development.

According to the latest Private Financial Data compiled in the Company Report by VBI, SHENGLI VIETNAM reported USD 106.18 million in total assets by the end of 2023. Revenue bounced back to USD 341.94 million, nearly recovering its 2021 peak. While profit remains relatively thin at USD 855,803, it still grew by nearly 15% year-on-year, reversing the severe losses from the prior period. Owner’s equity increased modestly to USD 32.57 million, and the company holds a positive working capital balance of USD 2.09 million, giving it operational flexibility in a volatile sector.

Led by Chairman Cheung Chun Man and General Director Zhang Chun Tuan, the firm’s leadership has steered it through a period of volatility with cautious optimism. Though its profit margin remains slim, its volume-driven model, strategic geographic presence across Hanoi, Ho Chi Minh City, and Ha Tinh, and infrastructure-oriented product line give it strong potential for sustainable scale.

What draws the most attention in this case isn’t just SHENGLI’s size — it’s the rebound story. In a year when many heavy manufacturers struggled, SHENGLI found a way to grow. For investors and partners looking into Vietnam’s steel ecosystem, this turnaround is a story worth watching — and a company worth tracking with ongoing Company Reportsand real-time Risk Management tools.