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HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

Active

Business ID 2400351817

84-204 / 2471 701 / 2471 703

HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

Active

Business ID 2400351817

84-204 / 2471 701 / 2471 703

HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

Active

Summary

Name:

HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

Business ID (TIN):

2400351817

Date of Registration:

07 Mar 2006

Registered Office:

Bac Giang Province Department of Planning and Investment

Address:

An Hoa Hamlet, Doan Bai Commune, Hiep Hoa District, Bac Giang Province, Vietnam

Phone:

84-204 / 2471 701 / 2471 703

Financial Statement:

2020, 2021, 2022, 2023, 2024

HA PHONG EXPORT GARMENT JOINT STOCK COMPANY (CÔNG TY CP MAY XUẤT KHẨU HÀ PHONG): Sharp Decline in Profit Raises Red Flags

HA PHONG EXPORT GARMENT JOINT STOCK COMPANY, or GARCO HAPHONG, has long been a key player in Vietnam’s textile export industry. Registered under Business ID 2400351817 and located in Bac Giang Province, the company was established in 2006 and now employs around 7,600 workers. The business is privately held, with major ownership by Vietnamese nationals, including Chairman and General Director Mr. NGUYEN VAN KHANH, who holds nearly 30% of the company.

On paper, the company looks solid — assets in 2023 were reported at USD 57.3 million, and equity stood at USD 47.59 million. But dig deeper, and a troubling story emerges.

Profit collapsed. In 2023, GARCO HAPHONG’s profit dropped by 66.65%, falling to just USD 4.64 million. That’s down from nearly USD 14.5 million just two years earlier. At the same time, sales declined by 19.68%, and equity and assets also took a hit. The signs are clear: the company is under pressure.

Yes, it’s still profitable. Yes, it maintains a healthy working capital of USD 25 million. But no one should ignore the downward trend. This isn’t a minor dip — it’s a nosedive in profit, and it should alarm any investor, supplier, or client.

The company’s business lines span from garment manufacturing and textile finishing to property trading, retail, and even freight transport. This level of diversification could either be a strength — spreading risk — or a distraction from its core business at a time when it needs sharp focus.

Ownership remains largely in the hands of Vietnamese individuals. But the report notes that the current shareholder data might be outdated, and the latest license has not confirmed any recent changes — another point of concern for those seeking full transparency.

The bottom line? GARCO HAPHONG is not collapsing, but it's bleeding earnings and showing clear signs of strain. Anyone doing business with HA PHONG EXPORT GARMENT JOINT STOCK COMPANY should proceed carefully. A full Company Report, along with current Vietnam Financial Data, is a must. For a deeper look into creditworthiness, changing ownership, and risk exposure, Business Verification Services and Risk Management Services from VANGUARD BUSINESS INFORMATION LLC (VBI) are strongly recommended.

This is not the time for blind trust. It’s time for due diligence.

Legal Profile

English Name:

HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

Vietnamese Name:

CÔNG TY CP MAY XUẤT KHẨU HÀ PHONG

Short Name:

GARCO HAPHONG

Business ID (TIN):

2400351817

Date of Registration:

07 Mar 2006

Registered Office:

Bac Giang Province Department of Planning and Investment

Ownership Status:

Privately held

Operation Status:

Active

Contacts

Key Decision Makers:

+ NGUYEN V.K

+ NGUYEN K.V

+ VU V.H

Address:

An Hoa Hamlet, Doan Bai Commune, Hiep Hoa District, Bac Giang Province, Vietnam

Phone:

84-204 / 2471 701 / 2471 703

Branch:

Lot 3 and Lot 4, Xuan Lai Industrial Cluster, Xuan Lai Commune, Tho Xuan District, Thanh Hoa Province, Vietnam

Business Sector

Key business lines:

VSIC:

1410 Manufacture of wearing apparel, except fur apparel

NACE:

14.11 Manufacture of wearing apparel, except fur apparel

Industry Sales Growth

CAGR (2019 - 2023)

1.58%

YoY (2023)

-1.55%

Companies by industry

Company distribution and propportions

18,416

0.6334%

Key Industry Players

Top 10 companies in manufacture of wearing apparel, except fur apparel industry

viet tien garment corporation 28 corporation one member limited liability company tng investment and trading joint stock company hoa tho textile - garment joint stock corporation youngone nam dinh co.,ltd tex- giang joint stock co., phong phu international joint stock company worldon (viet nam) company limited hanesbrands viet nam hue company limited tan de company limited

Payment History

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Financial Performance

Assets	12.37%
Owner’s Equity	-89.87%
Working Capital	46.89%
Net Worth	-78.08%
Sales	-73.42%
Operating income	-80.67%
EBIT	54.02%
Gross Profit Margin	50.58%
Debt to EBITDA	27.51%

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Specific Questions About HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

When did HA PHONG EXPORT GARMENT JSC start operating?

HA PHONG EXPORT GARMENT JSC was started in 07 Mar 2006

What industry does HA PHONG EXPORT GARMENT JSC operate in?

HA PHONG EXPORT GARMENT JSC is operating in "Manufacture of wearing apparel, except fur apparel" industry

How can I contact HA PHONG EXPORT GARMENT JSC?

HA PHONG EXPORT GARMENT JSC phone numbers is 84-204 / 2471 701 / 2471 703

What adverse news is there about HA PHONG EXPORT GARMENT JSC?

HA PHONG EXPORT GARMENT JSC’s has 2 bad news

What is stock symbol of HA PHONG EXPORT GARMENT JSC?

HA PHONG EXPORT GARMENT JSC is not listed company

Where is the location of HA PHONG EXPORT GARMENT JSC?

HA PHONG EXPORT GARMENT JSC is located at An Hoa Hamlet, Doan Bai Commune, Hiep Hoa District, Bac Giang Province, Vietnam

What is HA PHONG EXPORT GARMENT JSC’s business registration?

HA PHONG EXPORT GARMENT JSC business registration is 2400351817

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HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

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HA PHONG EXPORT GARMENT JOINT STOCK COMPANY

Summary

HA PHONG EXPORT GARMENT JOINT STOCK COMPANY (CÔNG TY CP MAY XUẤT KHẨU HÀ PHONG): Sharp Decline in Profit Raises Red Flags

Legal Profile

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