TRI MAI TRADING - MANUFACTURING COMPANY LIMITED

TRI MAI TRADING - MANUFACTURING COMPANY LIMITED (CÔNG TY TNHH SX-TM TRÍ MAI), tax code 1100178863, is a privately held limited liability company based in Land Plot No. 106, Map Sheet No. 5, Ba Pho Hamlet, Binh Thanh Commune, Thu Thua District, Long An Province, Vietnam. Operating since October 24, 2005, this Vietnamese enterprise has built a solid reputation in the milling and wholesale distribution of glutinous rice and other agricultural commodities.

Led by Director Mr. Vo K. T., who also holds a 60% ownership stake, and co-owned by Ms. Do T. T. M. (40%), the company employs around 270 workers and is fully domestically owned. Its core business includes milling, meal manufacturing, and the wholesale of cereals, rice, and other agricultural goods, with additional licenses in specialized wholesale and road freight transport.

In 2024, the company reported USD 40.23 million in revenue, up 6.64% year-on-year, continuing a strong sales rebound after a dramatic 38.77% growth in 2023. Total assets surged 96.82%, reaching USD 10.88 million, indicating aggressive reinvestment or asset acquisition. However, while top-line expansion is apparent, financial sustainability remains a concern.

Notably, the company posted a net loss of USD 23,057 in 2024, following a modest profit of USD 26,267 in 2023 and only USD 11,987 in 2022. The swing to red ink is a major reversal and reflects an unsustainable profit model, especially in light of rising operating scale. The negative working capital of USD 742,798 is more concerning, which highlights potential liquidity stress and short-term solvency risks—an area of immediate concern for credit analysts and risk managers.

Equity also contracted by 8.36%, down to USD 1.86 million, marking the first equity decline in three years despite higher revenue and asset growth. This divergence suggests that the growth is likely debt-fueled or accompanied by growing liabilities, which may place pressure on cash flows and repayment capacity. These risk indicators are critical for investors or suppliers looking to perform business verification or review Vietnam private financial data.

In summary, TRI MAI TRADING - MANUFACTURING COMPANY LIMITED appears to be expanding aggressively in terms of sales and assets but is financially fragile beneath the surface. The company's liquidity deficit, shrinking equity, and negative net income in the latest fiscal year raise red flags for future stability. While its long operating history and strong market positioning in Long An Province offer commercial value, the company should be closely monitored for cash flow adequacy and cost control in the coming quarters.