TAN HIEP PHAT TRADING - SERVICE COMPANY LIMITED

For over two decades, TAN HIEP PHAT TRADING - SERVICE COMPANY LIMITED (CÔNG TY TNHH THƯƠNG MẠI - DỊCH VỤ TÂN HIỆP PHÁT), known widely as THP Group, has been a household name in Vietnam’s non-alcoholic beverage industry. From herbal teas to energy drinks, the company has long positioned itself as a leader and innovator in a competitive and fast-evolving sector.

Founded on October 27, 1997, with Business ID and TIN: 0301387752, THP operates as a limited liability company headquartered at No. 219, Binh Duong Boulevard, Lai Thieu Ward, Ho Chi Minh City, with a workforce of around 3,000 employees. The firm remains privately held and steered by its founding family. Ms. Pham T. N., the General Director, holds the majority ownership stake at 54.49%, with significant shares also held by Tran U. P. and Tran N. B.

In 2023, THP reported USD 115.38 million in revenue and a net profit of USD 19.74 million—a modest 6.27% decrease in profits compared to the previous year. However, the broader financial picture was more concerning: total assets dropped by 34.78%, and owners’ equity declined sharply by 45.66%, suggesting the company grapples with significant capital structure or reinvestment challenges.

Despite the financial downturn, THP holds a solid working capital of USD 15.28 million, reflecting operational liquidity and short-term resilience. Its diversified business registration includes beverage manufacturing and wholesale and interests in real estate, natural resource extraction, and logistics, revealing a sprawling business model beyond drinks.

With over 27 years of market presence, THP remains a symbol of domestic entrepreneurship in a market increasingly saturated by global giants. However, its recent financial indicators point to a critical phase where strategic reinvention may be necessary to maintain market leadership.

As Vietnam’s FMCG landscape grows more competitive, TAN HIEP PHAT’s ability to adapt, innovate, and streamline operations will determine whether it retains its crown as the nation's most recognized local beverage brand—or risks losing fizz in an evolving market.