THAI BINH KIEN GIANG JOINT STOCK COMPANY

THAI BINH KIEN GIANG JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THÁI BÌNH KIÊN GIANG) is a privately held footwear manufacturer operating under business ID 1701958307 and headquartered in Thanh Lộc Industrial Park, Kiên Giang Province. Established in 2014, the company has grown into one of the TBS Group's major production hubs, with a workforce of 4,500-5,000 employees, reflecting its large-scale industrial operations.

The company is led by General Director Nguyen V. T., who oversees an extensive manufacturing system specializing in footwear processing and also engages in textile-related production, wholesale distribution, and several auxiliary activities related to apparel and household goods. Thai Binh Kien Giang holds the legal status of a joint stock company, backed by substantial shareholders including Thaibinh Group with a controlling 77.37% stake, Binh Duong Trade and Tourist JSC with 15.56%, and smaller minority shareholders such as Vu V. H.

Financial performance in 2024 shows a clear rebound following a challenging year. Total assets increased to USD 132.55 million, marking a 3.92% recovery after a significant contraction in 2023. Sales rose modestly to USD 94.36 million, a turnaround from the steep decline in the previous year. Most notably, profit surged to USD 3.41 million, representing an extraordinary year-over-year increase of more than 1,000%, as highlighted in the profit growth chart on page one of the report. This improvement reflects improved production efficiency, greater order flow, or successful restructuring efforts. Equity also expanded to USD 36.24 million, a ten-percent increase, signaling strengthening financial stability. Working capital improved sharply to USD 15.73 million, providing a healthier buffer for the company’s sizable operational demands.

With its manufacturing scale, strategic shareholder support, and a clear upward financial trajectory, Thai Binh Kien Giang Joint Stock Company remains a key player in Vietnam’s footwear export industry. Its recovery in 2024 positions it well for continued expansion in both domestic and international markets, especially as global footwear demand gradually stabilizes.