TIEN LUC SERVICE TRADING AND GOLD SILVER COMPANY LIMITED (Vietnamese: CÔNG TY TNHH VÀNG BẠC VÀ THƯƠNG MẠI DỊCH VỤ TIẾN LỰC) is a Hanoi-based retail and trading enterprise operating across a wide spectrum—from gold and silver trading to household appliances, fashion, and construction materials. With over 26 years of business history and a long-standing legal identity under tax code 0500329843, this privately held company has grown to become a sizable regional player in both precious metals and general trade.

The company is led by Mr. Phung V. L., who serves as General Director and holds an 80% ownership stake, suggesting strong family control. Other stakeholders include Ms. Nguyen T. H. and Mr. Phung V. T., each holding 10%. The head office is located in Hung Dao Village, Tay Dang Town, Ba Vi District, Hanoi, supported by multiple other branches throughout the same district.

From a financial standpoint, the company reported USD 158.08 million in sales in 2023, which, while substantial, marks a continuing decline for the second consecutive year (–8.13% YoY in 2023, following –16.07% in 2022). Meanwhile, total assets have dropped by 11%, down to USD 20.92 million, reinforcing the view of shrinking scale. However, what's most concerning for a risk manager is the extremely thin profit margin—the company earned just USD 33,633 in net profit, which is a return of barely 0.02% on sales.

Even though working capital is reported at USD 14.82 million, giving a sense of liquidity stability, the real concern lies in profitability versus turnover. The business seems to chase revenue volume at the expense of efficiency, pricing power, or cost control. In an industry where gold and silver trading often requires tight margins and high operational compliance, such figures raise the question: Is the company truly sustainable, or is it running on sales momentum alone?

The company also operates in a multitude of sectors—including gold wholesale, coal mining, electronics trading, furniture manufacturing, and accommodation services. While diversification can be seen as a strength, in this case, it appears diffuse and difficult to govern, especially under family ownership with limited transparency.

Given these concerns—declining revenues, extremely low profit margins, multi-sector sprawl, and potential risk of overextension—it is essential for banks, insurers, and trade partners to perform thorough due diligence before offering credit or entering long-term agreements.

For a full assessment, we strongly recommend ordering the comprehensive business risk report from VANGUARD BUSINESS INFORMATION LLC (VBI). VBI offers:

• Transaction pattern verification

• Profitability risk evaluation

• Shareholder background screening

• Compliance and tax status review

• Hidden liabilities and operational red flag identification

TIEN LUC SERVICE TRADING AND GOLD SILVER COMPANY LIMITED is large in footprint but fragile in margin. Without in-depth insights from a VBI report, any engagement with this entity carries the risk of unseen exposure. Don't rely on revenue figures alone—get the full picture before you act.