VICOSTONE JOINT STOCK COMPANY

VICOSTONE JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN VICOSTONE) is a well-established and publicly traded Vietnamese manufacturer of artificial quartz surfaces, known widely both within Vietnam and in international markets. It operates under tax code 0500469512 and is headquartered at Hoa Lac Hi-Tech Park, Thach Hoa Commune, Thach That District, Ha Noi City, Vietnam. With over 20 years of operation since its founding in 2005, VICOSTONE has become a flagship brand in Vietnam’s engineered stone sector and a key player on the Hanoi Stock Exchange under the ticker symbol VCS.

Financially, VICOSTONE remains solid, though recent performance reflects broader pressures in the global construction materials industry. In 2024, the company reported USD 177.56 million in sales, a slight decline of 0.73% from the previous year, following a more significant drop of 23% in 2023. While revenues have contracted, net profit for 2024 remained strong at USD 33.16 million, down only 4.64%, indicating resilient margins and effective cost control. It’s worth noting that this is still lower than the peak profit of over USD 47 million recorded in 2022, suggesting that the company is adjusting to a slower demand environment, possibly due to weakened export markets or a downturn in real estate activity.

VICOSTONE's balance sheet is a major strength. As of year-end 2024, total assets stood at USD 265.68 million, supported by owner’s equity of USD 209.92 million. This represents a very healthy capital structure, with minimal reliance on external debt and a high degree of financial autonomy. Working capital of USD 170.36 million further underlines the company’s strong liquidity and ability to cover operating and short-term obligations without strain.

The company employs 827 staff and has built a vertically integrated operation, with capabilities in stone cutting, finishing, and shaping, supported by a network of branches in Ho Chi Minh City and Da Nang. Its core business—producing and trading artificial quartz—is complemented by other activities like site preparation, furniture manufacturing, and construction services. The company’s broad registration allows it to adapt to market needs, though its brand remains most associated with premium quartz surfaces.

In terms of ownership, A&A Green Phoenix Group JSC holds the controlling stake with 84.15%, while Chairman Mr. Ho Xuan Nang retains a direct stake of 3.74%, reinforcing strategic control and stable governance.

In summary, VICOSTONE JOINT STOCK COMPANY is a financially strong and operationally sound business with a leading market position. While the company has faced declining sales in recent years, it continues to generate substantial profits, maintain robust liquidity, and show excellent balance sheet strength. There are no immediate financial red flags, though stakeholders should monitor continued sales trends to assess whether the company can return to growth. VICOSTONE remains a trustworthy partner and investment in Vietnam’s materials and manufacturing landscape. For independent verification or deeper industry risk analysis, VANGUARD BUSINESS INFORMATION LLC (VBI)provides authoritative insight into firms like VICOSTONE across Vietnam.