KIM BOI MINERAL JOINT STOCK COMPANY - HAI DUONG BRANCH

KIM BOI MINERAL JOINT STOCK COMPANY – HAI DUONG BRANCH (Vietnamese name: CÔNG TY CỔ PHẦN KHOÁNG SẢN KIM BÔI – CHI NHÁNH HẢI DƯƠNG) represents a very different profile from the trading and manufacturing companies discussed earlier. Legally registered as a branch on 14 April 2016 under Business ID / Tax Code: 5400259729-001, this unit operates in Chi Linh City, Hai Duong Province, with its registered address in the Trai Ne residential area, An Lac Ward.

Unlike a standalone company, this Hai Duong entity functions as an operational extension of Kim Boi Mineral Joint Stock Company rather than an independent profit center. Its registered line of business is freight transport by road, suggesting a logistics-support role closely tied to the parent company’s mineral or materials-related activities.

Financially, the branch’s recent performance reflects a sharp contraction followed by stabilization at a very low base. In 2024, total assets fell to approximately USD 26.3 million, down nearly 50% year-on-year, while sales dropped dramatically to USD 16.0 million, an 82% decline compared to the previous year. These figures indicate a major scale-down of operations, likely due to restructuring, reduced transport demand, or an internal reallocation of activities within the group.

At the same time, the data shows a technical recovery in equity and profit, with the branch returning to a small positive net result of about USD 15,000 after a profound loss in 2023. However, equity remains extremely thin, and working capital is negative, highlighting ongoing liquidity pressure and limited financial autonomy.

Overall, the Hai Duong branch should be viewed not as a growth engine but as a supporting logistics node whose performance is highly dependent on the parent company’s operational decisions rather than market-driven expansion.