THUAN HAI COMMODITIES CORPORATION

THUAN HAI COMMODITIES CORPORATION (CÔNG TY CỔ PHẦN THUẬN HẢI COMMODITIES) is a privately held joint stock company engaged in fuel trading and energy-related logistics, operating under Business ID 0316815023. With a legal structure registered in Ho Chi Minh City and a relatively short history since its founding in April 2021, the company has grown rapidly, but recent financial volatility raises questions about its stability and long-term risk profile.

The company is headquartered on the 3rd Floor of Thuan Hai Building in the Tan Thuan Export Processing Zone, District 7, Ho Chi Minh City. It is chaired and managed by Ms. DUONG THI MY LINH, a Vietnamese national who holds the dual roles of Chairwoman and General Director. Supporting her is Mr. NGO PHUOC BINH, Purchasing Manager. The firm operates with a staff of approximately 350 employees and focuses primarily on the wholesale of solid, liquid, and gaseous fuels, especially coal and biomass fuels such as rice husk pellets.

From a financial standpoint, THUAN HAI COMMODITIES CORPORATION reported a total asset base of USD 117.57 million in 2023, which represents an 18.72% decline from 2022. The decline in assets corresponds with a 5.75% drop in revenue, down to USD 254.2 million, suggesting a cooling after a period of aggressive expansion. Most notably, net profit fell sharply by 43.92% to USD 6.61 million, reflecting either margin compression, increased costs, or market volatility in the fuel sector. In contrast, owner’s equity increased by 18.26%, reaching USD 35.7 million, showing continued shareholder commitment and reinvestment despite declining profits.

The company’s working capital stood at USD 35.81 million, indicating short-term liquidity strength, though its revenue and profit contraction in 2023 may signal operational headwinds or tightening demand. The charter capital and paid-up capital are both reported at USD 18.49 million, with 99% ownership held by THUAN HAI CORPORATION, and the remainder by individual Vietnamese shareholders DUONG THANH SANG and DUONG THANH PHONG.

THUAN HAI COMMODITIES CORPORATION is licensed to engage in a wide array of business lines beyond fuel trading, including manufacturing of steam generators, freight transport, machinery repair, real estate brokerage, and even renting of motor vehicles. While this diversification might be a growth strategy, it also introduces potential operational complexity and dilution of core competencies.

For businesses considering partnerships, financial engagement, or credit lines with THUAN HAI COMMODITIES CORPORATION, it is crucial to understand both the strengths and risk factors behind the company’s trajectory. The recent declines in revenue and profit—following a high-growth year in 2022—highlight the importance of market timing and operational resilience in the volatile commodities space.

To support such evaluations, VANGUARD BUSINESS INFORMATION LLC (VBI) offers full business verification, credit reporting, and company intelligence services, including in-depth reviews of THUAN HAI COMMODITIES CORPORATION and thousands of other Vietnamese enterprises. Interested parties can learn more and access trusted reports directly at https://www.vnbis.com.

In conclusion, THUAN HAI COMMODITIES CORPORATION shows strong infrastructure, liquidity, and management presence, but its recent financial performance reveals pressures that may affect long-term sustainability. Objective verification and ongoing financial monitoring are recommended before entering into high-value transactions or strategic partnerships.