THACO AUTO NGHE AN COMPANY LIMITED

THACO AUTO NGHE AN COMPANY LIMITED (Vietnamese name: CÔNG TY TNHH MỘT THÀNH VIÊN TRƯỜNG HẢI NGHỆ AN) is a one-member limited liability company operating as the official regional automotive distribution and service arm of the THACO ecosystem in Nghe An Province. The company plays a central role in retailing passenger vehicles and providing after-sales services for key THACO brands, notably Kia, Mazda, and Peugeot, serving both individual consumers and institutional clients across the North Central region.

From a legal standpoint, the company is registered under Business ID / TIN: 2901534829 with the Nghe An Department of Planning and Investment and maintains active operating status. Its charter capital is USD 1.66 million, fully paid. The head office and primary showroom–service complex are located at Road 46, Hamlet 3, Nghi Phu Commune, Vinh City, Nghe An Province, Vietnam, a strategic site connecting urban demand with regional transport corridors. The company employs approximately 300 staff, reflecting the labor-intensive nature of vehicle sales, maintenance, and customer service operations.

Management and governance are closely aligned with the parent group. The company is chaired by Nguyen T. M., who represents the controlling shareholder at the local level. Ownership is 100% held by THACO AUTO Limited Liability Company, anchoring the Nghe An operation firmly within Vietnam’s largest domestic automotive group and ensuring access to centralized procurement, branding, financing programs, and standardized operating procedures.

Operationally, THACO Auto Nghe An focuses on automobile trading and comprehensive after-sales services, including vehicle maintenance, repair, spare parts distribution, insurance brokerage support, and vehicle leasing. The breadth of registered business lines—ranging from retail car sales and motorcycle services to equipment leasing—provides flexibility, but core revenues are clearly driven by new vehicle sales and servicing tied to THACO’s main passenger car brands.

Financially, the company exhibits a high-turnover, low-margin dealership profile.

• Total assets: USD 11.11 million, indicating a relatively light balance sheet compared with sales volume.

• Total sales: USD 68.76 million, highlighting strong market throughput and brand-driven demand.

• Owner’s equity / Net worth: USD 1.66 million, stable and closely aligned with charter capital.

• Profit: USD 57,270, reflecting sharp margin compression despite sizable revenues.

• Working capital: USD 5,761, extremely tight, underscoring reliance on rapid inventory turnover, supplier credit, and group-level cash management.

The most critical financial signal is the steep decline in profitability relative to sales, suggesting rising competitive pressure, promotional intensity, higher operating costs, or margin squeeze from manufacturer pricing policies. While asset levels have rebounded and sales remain substantial, earnings have fallen to a minimal level, leaving limited internal buffers at the local-company level. This is partly mitigated by the company’s integration into the THACO group, which reduces standalone solvency risk and provides implicit financial support.

Overall, THACO Auto Nghe An Company Limited should be viewed as a strategic regional dealership within a national automotive group, rather than as an independent profit center. Its strengths lie in brand portfolio, market access, and group backing, while its key vulnerabilities are thin margins and tight working capital inherent to the automotive retail business. For suppliers and customers, the company represents a stable and credible counterparty; for lenders and risk analysts, performance should be assessed primarily in the context of THACO AUTO’s consolidated strength rather than standalone profitability.

Clients seeking more detailed or updated financials, group-level exposure analysis, or a comprehensive due-diligence report can obtain the latest insights directly from VANGUARD BUSINESS INFORMATION LLC (VNBIS)at https://www.vnbis.com, where company data is continuously updated and professionally reviewed.