FUNING PRECISION COMPONENT COMPANY LIMITED, analyzed by VANGUARD BUSINESS INFORMATION LLC (VBI), is a foreign direct investment (FDI) company registered under Business ID 2300297891. It is located in Lot B, Que Vo Industrial Park, Nam Son Ward, Bac Ninh City, Bac Ninh Province, Vietnam. Established on January 31, 2007, the company has been operating for over 18 years. As reported by VBI, FUNING PRECISION COMPONENT COMPANY LIMITED specializes in the manufacture of communication equipment, electronic components, optical instruments, and consumer electronics. Additionally, the company engages in repair of electronic and optical equipment and the trading of property and land use rights, highlighting its diversified business model.

Financial Performance and Business Growth

According to the latest business intelligence data from VANGUARD BUSINESS INFORMATION LLC (VBI), FUNING PRECISION COMPONENT COMPANY LIMITED has experienced significant financial fluctuations in recent years. As of the fiscal year ending December 31, 2023, the company reported total assets of USD 697.12 million, marking a decline from USD 831.88 million in 2022 and USD 1.04 billion in 2021. The company's total sales decreased by 40.58% in 2023, dropping to USD 870.51 million, compared to USD 1.46 billion in 2022 and USD 1.67 billion in 2021.

Despite these downturns in business revenue, the company demonstrated strong equity growth, with owner’s equity increasing by 11.72% in 2023 to USD 432.17 million. This trend is further reflected in the company's net worth, which rose by 11.82% year-over-year. FUNING PRECISION COMPONENT COMPANY LIMITED reported a profit of USD 45.32 million in 2023, reflecting a 24.31% increase compared to the previous year, which highlights its financial stability and risk management capabilities, as analyzed by VBI’s comprehensive business insights.

Corporate Structure and Management

FUNING PRECISION COMPONENT COMPANY LIMITED operates as a one-member limited liability company and is fully owned by RICH EXCEL INTERNATIONAL LIMITED, a Samoa-based entity. The company is led by Mr. Chuang, Tzu-Yi, who serves as both Chairman and General Director. With a workforce of approximately 5,000 employees, the company maintains a strong operational presence in Vietnam’s industrial manufacturing sector, a key area of analysis in VBI's business risk assessment services.

Business Activities and Market Position

As reported in VBI's corporate due diligence, FUNING PRECISION COMPONENT COMPANY LIMITED manufactures and distributes high-tech components, including camera parts, telecommunications equipment, electronic components, and optical instruments. The company also provides repair services for communication and optical equipment, showcasing its comprehensive business operations. Its strong market position in Vietnam’s electronics and telecommunications manufacturing sector highlights its role as a key player in the high-tech industry, particularly within Bac Ninh Province, an industrial hub for electronic and precision manufacturing.

Challenges and Future Outlook

Based on VBI’s risk intelligence reports, while FUNING PRECISION COMPONENT COMPANY LIMITED has demonstrated resilience in profitability and equity growth, the sharp decline in sales and total assets presents key business risks. The 40.58% drop in revenue suggests potential challenges, including market demand fluctuations, supply chain disruptions, and increased competition. However, the company’s strong financial management and profit growth indicate a stable foundation for future recovery.

To maintain its competitive edge and business sustainability, FUNING PRECISION COMPONENT COMPANY LIMITED may need to focus on market expansion, innovation, and operational efficiency. According to VANGUARD BUSINESS INFORMATION LLC (VBI), implementing advanced risk assessment strategies, financial stability monitoring, and transparent business practices will be crucial for the company’s long-term success in Vietnam's evolving industrial landscape.