THUAN HAI ENERGY CORPORATION

Founded on 15 April 2021, THUAN HAI ENERGY CORPORATION is a privately held joint stock company operating in the energy sector, with its core activities revolving around the wholesale of solid, liquid, and gaseous fuels. Headquartered at M Floor, Thuan Hai Building, Lot Vb.20a2, Road 24, Tan Thuan Export Processing Zone, District 7, Ho Chi Minh City, the company is also known for investing in advanced boiler systems to supply steam, heat, and electricity to industrial clients across Vietnam.

The company is led by Duong T. S., who serves as the General Director, supported by a leadership team with a strong background in energy trading and engineering solutions. While relatively young in terms of corporate history, THUAN HAI ENERGY CORPORATION has rapidly built a significant presence, thanks to its parent company, Thuan Hai Corporation, which holds a 99% ownership stake. The remaining shares are held by Duong T. C. and Duong T. S., each owning 0.5%.

Financially, the company’s performance in 2023 reveals a mixed but noteworthy trajectory. Total assets increased to USD 67.48 million, a 6.65% growth compared to 2022, while equity rose sharply by 35.6% to USD 27.52 million, strengthening the company’s capital base. However, sales fell slightly by 5.71% to USD 134.33 million, reflecting potential fluctuations in fuel demand or pricing dynamics. Profit dropped by 22.79% to USD 4.18 million, a decline from the strong gains achieved in 2022. Nevertheless, the company maintains a healthy working capital of USD 10.31 million, which ensures operational liquidity and ongoing investments in infrastructure.

THUAN HAI ENERGY CORPORATION operates in a capital-intensive industry that is highly sensitive to energy price volatility, supply chain constraints, and environmental regulations. While its strong equity growth is a positive indicator, the decrease in profit suggests the company may need to optimize cost structures or diversify its energy portfolio to maintain competitiveness. Its activities extend beyond fuel trading to include power generation, electricity distribution, steam production, and even waste collection, showcasing a broad energy-related ecosystem.

For stakeholders, THUAN HAI ENERGY CORPORATION presents both opportunities and risks. Its rapid growth and backing from a major shareholder are strong positives, but the recent decline in profitability indicates the need for prudent risk management. Vanguard Business Information LLC (VBI) provides comprehensive company verification and financial analysis services, helping partners and investors assess the financial stability and operational reliability of companies like THUAN HAI ENERGY CORPORATION before forming long-term business relationships.