AN TRUNG MANH TRADING COMPANY LIMITED

AN TRUNG MANH TRADING COMPANY LIMITED (CÔNG TY TNHH THƯƠNG MẠI AN TRUNG MẠNH)is a privately held Vietnamese enterprise operating in the mechanical engineering, metal processing, and construction sectors. Officially registered on April 17, 2014, under Business ID 6001429716, the company’s head office is at Hoa Phu Industrial Park, Hoa Phu Commune, Buon Ma Thuot City, Dak Lak Province, Vietnam.

Industrial Capabilities and Business Scope

The company’s primary operations include machining, metal treatment, and coating services , as well as the design and fabrication of mechanical products used in the forestry, agricultural, and construction industries. It also manufactures conveyor systems, cranes, and other industrial equipment and extends its services to factory and warehouse construction.

In addition to these core areas, AN TRUNG MANH is licensed to carry out residential, industrial, and infrastructure construction projects, including roads, bridges, water drainage systems, and telecommunications works. This wide operational range suggests the company’s ambition to position itself as a full-service engineering and construction contractor within Vietnam’s central highlands region.

Leadership and Ownership Structure

The company is led by Mr. Vo T. L., who serves as Director and is one of the founding shareholders. The ownership is distributed among five Vietnamese investors, with Mr. Ho V. L. and Ms. Hoang T. T. each holding 35 percent, followed by Ms. Pham T. T. T. (17 percent), Mr. Vo T. L. (10 percent), and Mr. Pham T. M. (3 percent). This structure indicates a closely held, family-oriented ownership model with shared strategic decision-making among principal investors.

Financial Overview and Performance

As of December 31, 2023, AN TRUNG MANH reported total assets of USD 41.73 million, showing a slight 2.68 percent decline from 2022. Owner’s equity stood at USD 10.71 million, up 0.4 percent year-on-year, indicating stability in net worth. Revenue reached USD 104.91 million, marking an 11.13 percent decrease, while net profit rebounded strongly by 104.93 percent, reaching USD 139,374 after a significant loss in 2022.

Working capital improved dramatically to USD 2.17 million, up 431 percent, suggesting a healthier liquidity position. However, the company’s profit margin remains extremely thin, reflecting heavy dependence on project-based revenue and likely cost inefficiencies in its contracting operations.

Operational Assessment and Risk Perspective

AN TRUNG MANH has operated for over 11 years, employing approximately 200 workers. Its base in Dak Lak gives it a strategic advantage in serving industrial and infrastructure projects across Vietnam’s central region. The company’s broad licensing allows flexibility in bidding for diverse projects, but the wide scope may also stretch management capacity and increase operational risks.

From a financial perspective, although the company shows improving profitability and liquidity, the persistent decline in sales and minimal earnings margin suggests ongoing pressure on cost control and project pricing. The sharp turnaround in profit in 2023 may reflect temporary cost adjustments or favorable contract completions rather than a structural improvement.

The company’s credit risk profile can be considered moderate given its modest profit base and high turnover. It maintains sufficient equity and liquidity to meet short-term obligations but would benefit from improved financial transparency and margin enhancement measures to ensure long-term resilience.

In summary, AN TRUNG MANH TRADING COMPANY LIMITED is a technically capable, diversified industrial contractor with stable ownership and improving financial liquidity. Nonetheless, its narrow profit margin and declining revenue signal a need for greater operational discipline and more selective project management to enhance future economic sustainability.