VIET NAM EVERGREEN CO., LTD

As assessed by financial analysts at Vanguard Business Information LLC (VNBIS.com), VIET NAM EVERGREEN CO., LTD (Công ty TNHH Khải Thừa Việt Nam) is a one-member limited liability company fully owned by Wenzhou Hendy Mechanism and Plastic Co., Ltd (China). The company operates under Business ID and Tax Code 2400393373, officially registered on December 24, 2007, with its head office located at Gia Khe Industrial Cluster, Doi Ngo Town, Luc Nam District, Bac Giang Province, Vietnam.

Specializing in the manufacture of plastic products such as woven bags, packaging, tarpaulins, and household goods, VIET NAM EVERGREEN CO., LTD has grown into a large-scale manufacturing entity with over 1,100 employees and a charter capital exceeding USD 13.26 million. It has established a strong presence in Vietnam’s northern industrial base, primarily supplying both domestic and export markets.

In 2023, the company achieved USD 116.87 million in sales, reflecting a solid 12.5% year-over-year increase. However, net profit fell dramatically by 47.08%, down to just USD 757,705, suggesting that rising costs or operational inefficiencies are weighing on overall profitability. This declining margin trend is particularly concerning given that revenues have increased consistently over the past three years.

From a balance sheet perspective, total assets declined by 10.76% to USD 52.89 million, marking the second consecutive year of asset contraction. In contrast, owner’s equity rose slightly by 2.86% to USD 24.27 million, showing retained earnings are still being accumulated, though not at a pace that matches revenue growth.

Despite maintaining a working capital surplus of over USD 11.8 million, the profitability dip poses essential questions about the company's cost management and long-term strategy. Analysts at VNBIS.com view VIET NAM EVERGREEN CO., LTD as a company with strong market demand and growth momentum, but one that must now focus on improving margin control and capital efficiency to maintain its competitive edge in the plastics manufacturing sector.