TAN DE COMPANY LIMITED (Vietnamese: CÔNG TY TNHH TÂN ĐỆ) is a privately owned apparel manufacturer based in Hanoi, Vietnam, operating as a one-member limited liability company under Business ID 0109528912. Despite being officially registered in early 2021, the company has rapidly scaled its operations, marking a noteworthy presence in Vietnam’s competitive textile and garment sector. Its primary business activity is the manufacture and processing of sportswear and other textile-based apparel, with a significant production base in Thai Binh Province.

As of the end of 2023, TAN DE COMPANY LIMITED reported total assets of approximately USD 98.47 million, down 9.65% from the previous year. This marks a reversal from its aggressive asset expansion in 2022, when it more than doubled its asset base. While a decline in asset value does not necessarily indicate distress, it may suggest recent adjustments in capital allocation, inventory scaling, or investment slowdowns amid changing market conditions.

The company’s revenue continued to grow modestly in 2023, reaching USD 269.86 million—a 3.74% increase from the prior year. However, this growth was significantly slower than the 3,100% leap recorded in 2022, when the firm appeared to undergo a transformational expansion phase. Profitability also fell back, with net income sliding by 14.37% to USD 24.21 million, after a sharp spike the year before. Though still highly profitable relative to peers, the drop may reflect tighter margins or increased operating costs in the aftermath of rapid scale-up.

The company's equity base remained steady at around USD 37.43 million, suggesting retained earnings were sufficient to maintain internal capital without dilution or new investment. Working capital stood at a healthy USD 20.79 million, indicating short-term financial stability. However, long-term observers might question whether TAN DE COMPANY LIMITED can maintain its financial momentum following such a sharp—and possibly unsustainable—rise in performance during 2022.

Founded and solely owned by Mr. Nguyen Tien Phuong, a Vietnamese national who also serves as Chairman, the company appears to maintain centralized control and decision-making. With a workforce of around 1,000 employees and diversified business registrations spanning garment production, textile processing, machinery installation, packaging, and logistics, TAN DE shows ambition beyond its core sector.

That said, press observers and analysts will note that the pace of growth in both revenue and assets has cooled. The steep rise and subsequent dip in profitability signal a phase of consolidation—or possibly correction—following an unusually aggressive expansion curve. Whether the company is recalibrating for long-term stability or facing external pressures remains unclear.

At this point, TAN DE COMPANY LIMITED remains an active, profit-making enterprise with a strong balance sheet and diversified operations. However, recent financial shifts suggest it is entering a more cautious operational phase, where risk management and margin preservation will be as important as growth itself.