SHUNYUN TECHNOLOGY (HA NOI, VIETNAM) LIMITED

SHUNYUN TECHNOLOGY (HA NOI, VIETNAM) LIMITED (Vietnamese name: CÔNG TY TNHH CÔNG NGHỆ SHUNYUN (HÀ NỘI, VIỆT NAM)) is a foreign-invested enterprise engaged in the high-tech manufacturing of optical transceiver modules. It operates as a limited liability company under Tax Code: 0109040071, and is based at Lot CN8, Thach That - Quoc Oai Industrial Park, Phung Xa Commune, Thach That District, Ha Noi City, Vietnam.

The company is wholly owned by SHUNYUN TECHNOLOGY HOLDINGS LIMITED, registered in the Cayman Islands. The leadership team is headed by Mr. Fan C. P., a Taiwanese national, with Ms. Nguyen T. N. T. serving as Chief Accountant. SHUNYUN currently employs approximately 580 staff and is considered a mid-size player in Vietnam’s precision optical equipment segment.

Financial Overview and Credit Risk Assessment

In 2023, SHUNYUN TECHNOLOGY (HA NOI, VIETNAM) LIMITED recorded sales of USD 151.05 million, a 22.91% decrease from the previous year. Profit also declined by 15.31%, down to USD 4.3 million, while total assets halved to USD 99.81 million from nearly USD 200 million in 2022. This asset reduction, along with the sales drop, may reflect inventory liquidation, capital restructuring, or weakened operating capacity. However, owner’s equity increased by 40.38% to USD 14.95 million, indicating a strengthening capital base despite reduced scale.

One of the few positives in 2023 was the dramatic recovery in working capital to USD 10.47 million, up nearly 19-fold year-on-year, implying improved liquidity and operational buffer. Nevertheless, the steep asset contraction and margin decline suggest exposure to supply chain volatility or a pullback in global tech demand.

From a credit risk management perspective, SHUNYUN presents a moderate credit profile:

• The company remains profitable and liquid, which is favorable for short-term obligations.

• However, the sharp volatility in revenue and asset base warrants careful monitoring.

• Its foreign ownership and strategic positioning in high-tech manufacturing provide backing, but external dependencies could amplify risk during market contractions.

Recommendation

A thorough and updated credit review is strongly advised for credit exposure beyond 90–120 days or significant contract volumes. Given SHUNYUN's dynamic operational metrics and foreign capital structure, businesses and lenders should utilize a detailed Fresh Investigation Report from Vanguard Business Information LLC (VBI) before proceeding with credit terms, capital commitments, or strategic partnerships.