SONG TIEN SAIGON BEER TRADING JOINT STOCK COMPANY

SONG TIEN SAIGON BEER TRADING JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THƯƠNG MẠI BIA SÀI GÒN SÔNG TIỀN) is a well-established Vietnamese beverage wholesaler, operating for over 19 years since its incorporation in 2006. While it is not a direct beer producer, the company plays an important strategic role in the distribution network of SABECO—the largest beer manufacturer in Vietnam. With a registered tax code of 1500459121, the company is headquartered at No. 11 Tan Vinh Thuan Hamlet, Tan Ngai Ward, Vinh Long City, Vinh Long Province, Vietnam.

SONG TIEN SAIGON BEER TRADING JOINT STOCK COMPANY is majority owned (90%) by Saigon Beer - Alcohol - Beverage Corporation (SABECO), highlighting its integral place in the group’s Southern Vietnam distribution channel. The company is publicly held and listed on the UpCOM exchange under the ticker SST, though its market activity remains relatively limited.

The company’s financial results for 2024 signal a downturn in performance. Although total assets increased by 8.22% to USD 19.03 million, this came alongside a concerning decline in owner’s equity, which fell by 34.04% to USD 3.69 million—continuing a two-year trend of equity erosion. Most significantly, net profit plunged by 56.63% to just USD 1.48 million, after already declining 28.32% the year before. Meanwhile, revenue remained largely flat, slipping slightly by 0.55% to USD 177.52 million. This combination of stable top-line performance and sharply declining bottom-line earnings suggests that rising operational costs, tax changes, or distributor margin pressures are significantly impacting profitability.

Despite the profit contraction, the company maintains positive working capital of USD 2.65 million, indicating sufficient short-term liquidity to support operations. However, the fast-depleting equity base—down from over USD 6.9 million in 2022—signals the need for urgent restructuring, cost reduction, or capital injection if this trend continues. The company has 90 employees and is led by Mr. Tran Kim Chien, a Vietnamese national serving as Director.

The company’s main and registered activity remains the wholesale of beverages, directly connected to SABECO's production lines. Its business model is built around distributing high-volume, fast-moving consumer goods, which requires tight inventory control and lean operations to remain profitable.

In conclusion, SONG TIEN SAIGON BEER TRADING JOINT STOCK COMPANY is a strategic but financially pressured member of the SABECO distribution network. While still profitable and operationally stable, the ongoing decline in equity and profit margins should raise caution among stakeholders. Partners, investors, and credit suppliers are advised to closely monitor its financial trajectory and request updated financials before extending long-term credit. For detailed due diligence, risk scoring, and real-time verification, consult VANGUARD BUSINESS INFORMATION LLC (VBI).