SYSTEM TECHNOLOGIES DEVELOPMENT COMPANY LIMITED

SYSTEM TECHNOLOGIES DEVELOPMENT COMPANY LIMITED (CÔNG TY TNHH PHÁT TRIỂN CÔNG NGHỆ HỆ THỐNG), also known as SYSTECH CO., LTD, has been a key player in Vietnam’s construction and technology-driven energy sector for over 20 years. Founded on January 20, 2005, the company operates out of its headquarters in Ha Noi City, with additional branches in Ho Chi Minh City.

As a one-member limited liability company, SYSTECH is 100% privately owned by Mr. Mac Dang Khoa, who also serves as its Director. The company is registered under Business ID 0101601180 and has its Tax Identification Number (TIN) 0101601180. It currently employs 90 staff members and specializes in solar energy construction, electrical installation, and civil engineering projects.

Diverse business operations and industry reach

SYSTECH’s core business focus is on solar energy power project construction and electrical system installation, reflecting its commitment to Vietnam’s renewable energy transition. In addition to energy projects, the company is involved in a broad range of industries, including:

• Construction of civil engineering works
• Wholesale of computers, IT peripherals, and software
• Installation of industrial machinery and equipment
• Manufacturing of measuring, testing, and control equipment
• Manufacture of electric lighting systems and electrical distribution equipment
• Demolition, site preparation, and architectural engineering services

With such a diverse portfolio, SYSTECH stands out as a versatile technology and engineering solutions provider in Vietnam.

Financial performance: strong recovery and growth

SYSTECH has experienced significant financial recovery and growth over the past year. As of December 31, 2023, the company reported total assets of $8.68 million, a 50.91% increase from 2022. This indicates strong capital investments and expanding project scopes.

The company’s revenue skyrocketed by 162.34%, reaching $16.12 million in 2023, a dramatic recovery from previous declines in 2021 and 2022. Profits also increased by 33.22%, totaling $9,807, demonstrating improved financial efficiency and operational stability.

Equity saw exceptional growth, rising by 263.42% to $3.41 million, highlighting the company’s increasing financial strength. Additionally, working capital jumped by 306.59%, reaching $1.68 million, ensuring strong liquidity for future expansion.

Competitive strengths in the vietnamese market

• Leader in renewable energy construction: With Vietnam’s growing demand for solar energy, SYSTECH’s expertise in solar power construction positions it as a major player in this expanding sector.
• Rapid revenue and equity growth: The company’s 162.34% revenue increase and 263.42% rise in equityindicate strong financial resilience and market demand.
• Technological diversification: Unlike traditional construction firms, SYSTECH integrates high-tech solutions into its projects, making it a preferred choice for complex engineering ventures.
• Strategic locations: With offices in both Ha Noi and Ho Chi Minh City, SYSTECH has easy access to Vietnam’s two largest economic hubs, allowing for efficient project execution and client servicing.

Challenges and areas for improvement

• Modest profitability levels: Despite substantial revenue growth, net profit remains relatively low at $9,807, suggesting the need for cost optimization and higher-margin projects.
• High competition in the energy sector: With many international and domestic players entering Vietnam’s renewable energy industry, maintaining competitive pricing and service differentiation will be key.
• Heavy reliance on project-based income: The company must focus on diversifying income sources to reduce reliance on large-scale project cycles.

Future outlook: scaling innovation and energy solutions

As Vietnam continues its push toward renewable energy and infrastructure modernization, SYSTEM TECHNOLOGIES DEVELOPMENT COMPANY LIMITED is well-positioned for long-term success. With accelerating revenue, strong asset growth, and an expanding footprint in solar energy and civil engineering, SYSTECH is poised to strengthen its market position and contribute to Vietnam’s sustainable development goals.

By leveraging advanced technologies, increasing operational efficiency, and enhancing financial performance, SYSTECH can scale its success and establish itself as a top-tier engineering and technology firm in Vietnam.