TUYEN QUANG IRON STEEL COMPANY LIMITED

TUYEN QUANG IRON STEEL COMPANY LIMITED (CÔNG TY TNHH GANG THÉP TUYÊN QUANG), tax code 5000230718, is a long-standing steel manufacturer located in Long Binh An Industrial Park, Doi Can Ward, Tuyen Quang City, Tuyen Quang Province, Vietnam. Established on January 28, 2005, the company has weathered two decades of fluctuating market dynamics in Vietnam’s heavy industry sector, most recently showing signs of significant recovery.

The company is privately held and legally structured as a one-member limited liability company, with full ownership belonging to B.C.H Joint Stock Company, a Vietnamese enterprise based in Hai Duong Province. As of December 31, 2023, the firm had a paid-in capital of over USD 88.36 million, employing nearly 985 people. General Director Mr. Nguyen D. L. leads the company’s operational turnaround and expansion efforts.

TUYEN QUANG IRON STEEL COMPANY LIMITED focuses on the manufacture of iron, steel, and steel billets, and has also registered business lines spanning mining, fuel wholesaling, motor vehicle repair, chemical production, and building material manufacturing. This broad scope allows the company to participate in both upstream mining and downstream industrial manufacturing—a model typical of Vietnam’s integrated heavy industrial groups.

After several years of financial difficulty, including a substantial loss of over USD 16.29 million in 2022 and negative equity in both 2021 and 2022, the company staged a remarkable comeback in 2023. It posted a net profit of USD 7.17 million, a 144% increase over the previous year, while revenue grew to USD 143.75 million, up 19.12% year-on-year. Total assets also increased by 19.94%, reaching USD 120.57 million, and most notably, owners’ equity rebounded from negative USD 19.95 million to a positive USD 53.39 million, a massive turnaround representing over 367% year-on-year growth.

The company’s working capital stood at a healthy USD 24.86 million at the end of 2023, signaling restored liquidity and operational flexibility. From a risk management standpoint, this transformation significantly alters the enterprise's credit profile, from high risk in prior years to moderate, recoverable risk supported by new capital and improved margins. For those engaged in business verification and reviewing Vietnam private financial data, this shift reflects an important case study of capital restructuring and industrial recovery.

Though the company’s sales have not yet returned to their 2021 peak of nearly USD 193.8 million, the restoration of equity and profitability suggests that the company may now be better positioned for sustainable growth. Its website (http://tqis.com.vn) offers limited but functional access to product lines and contact points, underscoring the need for enhanced digital communication as it attempts to scale further.

In conclusion, TUYEN QUANG IRON STEEL COMPANY LIMITED has emerged from a period of financial distress to deliver impressive gains in profitability and equity. With a strong asset base, renewed capital structure, and extensive licenses across mining and industrial manufacturing, the company is poised to regain relevance in Vietnam’s competitive steel sector. Continued monitoring will be essential to assess whether this recovery can translate into long-term operational efficiency and strategic resilience.