THUAN AN PAPER SERVICE TRADING JOINT STOCK COMPANY

THUAN AN PAPER SERVICE TRADING JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THƯƠNG MẠI DỊCH VỤ GIẤY THUẬN AN), also known as TA PAPER JSC, is a fast-growing Vietnamese enterprise specializing in paper recycling, manufacturing, and packaging materials. Established on January 16, 2017, under Business ID 3801140300, the company is headquartered at Lot A, Road D4, Minh Hung III Industrial Park, Minh Hung Ward, Chon Thanh Town, Binh Phuoc Province, Vietnam.

Transforming Waste into Value

THUAN AN PAPER operates in recycling and manufacturing packaging paper, producing corrugated sheets, paperboard, and various types of paper containers used in the industrial and consumer goods sectors. Its production facilities in Binh Phuoc are designed with high environmental standards, integrating materials recovery and sustainable manufacturing processes. The company’s operations also extend into metal machining, wholesale trading of fuels and cereals, and agricultural machinery production, reflecting a broad industrial footprint that supports Vietnam’s circular economy.

Leadership and Ownership Structure

The company is chaired by Mr. Lieu K. K. T., who holds 68 percent of total shares, making him the majority shareholder and strategic decision-maker. The General Director, Mr. Lieu B. A., owns 19 percent, while Ms. Hoai T. H. holds 9 percent, followed by smaller stakes from other family shareholders. This concentrated ownership model gives THUAN AN PAPER strong continuity and alignment in its strategic direction, ensuring that the founding team closely guides decisions on expansion and capital allocation.

Financial Growth and Performance

In 2023, THUAN AN PAPER demonstrated remarkable financial improvement, especially in profitability. Total assets increased by 29.15 percent, reaching USD 157 million, while equity rose by 13.05 percent to USD 97.32 million. Despite a 7.1 percent decline in revenue to USD 104.52 million, the company’s net profit surged by 134.28 percent, reaching USD 6.54 million, up from USD 2.79 million in 2022.

The sharp profit growth indicates significant cost optimization and improved production efficiency. However, working capital dropped to just USD 93,375, a decrease of nearly 99.7 percent, suggesting temporary liquidity constraints possibly tied to reinvestment in asset expansion. The company’s capital structure remains robust, with high equity levels and strong asset growth supporting long-term stability.

Market Role and Strategic Outlook

As one of Vietnam’s prominent packaging paper producers, THUAN AN PAPER benefits from growing domestic and export demand for sustainable packaging materials. Its emphasis on recycling and materials recovery aligns with global environmental trends, giving it a competitive advantage as industries shift toward green supply chains.

The company’s continued reinvestment in modern facilities and technology is expected to enhance production capacity and quality consistency. However, short-term liquidity management will be crucial to balance growth, investment, and financial flexibility.

 THUAN AN PAPER JSC stands out as a rapidly advancing enterprise in Vietnam’s paper industry with a clear commitment to sustainability, operational efficiency, and family-led leadership. It combines strong equity fundamentals with innovation-driven manufacturing, positioning itself as a reliable and environmentally responsible business partner