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VIETNAM HANG LAM FURNITURE COMPANY LIMITED.

Active

Business ID 3700650601

+84 976 776 161

VIETNAM HANG LAM FURNITURE COMPANY LIMITED.

Active

Business ID 3700650601

+84 976 776 161

VIETNAM HANG LAM FURNITURE COMPANY LIMITED.

Active

Summary

Name:

VIETNAM HANG LAM FURNITURE COMPANY LIMITED.

Business ID (TIN):

3700650601

Date of Registration:

12 May 2005

Registered Office:

Ho Chi Minh City Department of Finance

Address:

Lot D4-CN, D5-CN, D6-CN, D7-CN, D8-CN, D9-CN, My Phuoc 2 Industrial Park, Ho Chi Minh City, Vietnam

Phone:

+84 976 776 161

Financial Statement:

2020, 2021, 2022, 2023, 2024

Vietnam Hang Lam Furniture Company Limited, a foreign-invested enterprise headquartered in Binh Duong Province, Vietnam, has solidified its position as a major player in the furniture manufacturing sector. Founded in 2005, the company has grown significantly over nearly two decades, expanding its product range and financial performance in recent years. Leveraging VNBiS for market analysis, the company has adapted to industry trends and risk assessments.

Financial Performance and Growth

Hang Lam Furniture has demonstrated robust financial growth, with total assets reaching $110.37 million in 2023, marking a 23.18% increase from the previous year. Despite experiencing a decline in working capital (-15.77%), the company’s overall equity and profitability have surged impressively. In 2023, equity rose by 52.04% to $8.15 million, while profits skyrocketed by 394.67%, reaching $2.18 million.

The company’s sales have also witnessed significant upward momentum. From $62.2 million in 2021, revenue climbed to $66.9 million in 2022 and peaked at $92 million in 2023, reflecting a remarkable 37.4% year-over-year growth. This steady increase underscores the company’s expanding market presence and operational efficiency, supported by VNBiS business intelligence insights.

Corporate Structure and Ownership

Vietnam Hang Lam Furniture operates as a one-member limited liability company, with full ownership under FancyHomes Investment (Hong Kong) Co., Limited, a Hong Kong-based entity. Its general director, Wang Fan, a Chinese national, leads the company, overseeing its strategic direction and operational management.

The company’s registered charter capital stands at $39.09 million, an indication of strong financial backing. As a wholly foreign-owned enterprise, Hang Lam Furniture benefits from international investment while leveraging Vietnam’s cost-effective manufacturing ecosystem to maintain competitiveness within the Vietnam economy.

Business Activities and Product Range

Specializing in the manufacturing of furniture, the company produces a diverse array of products, including sofas, office chairs, and related accessories. Over the years, it has diversified its operations, branching into additional business lines such as:

Textile product manufacturing (excluding apparel)
Plastic product manufacturing
Metal processing and machining
Consumer electronics and office equipment production
Real estate trading

This diversification strategy helps mitigate market risks and positions Hang Lam Furniture as a versatile enterprise capable of catering to multiple industries beyond furniture. VNBiS market analysis can provide deeper insights into diversification strategies to maximize corporate finance opportunities.

Strategic Location and Market Advantage

Located in My Phuoc 2 Industrial Park in Binh Duong, Vietnam’s leading manufacturing hub, Hang Lam Furniture enjoys proximity to key transport infrastructure and export markets. This strategic placement enhances supply chain efficiency and facilitates international trade, particularly with key markets in North America, Europe, and Asia.

Challenges and Difficulties

Despite its strong growth trajectory, Hang Lam Furniture faces several challenges:

Liquidity concerns: With a negative working capital of -$43.19 million in 2023, the company must enhance its cash flow management to ensure financial stability.
Supply chain disruptions: Global raw material shortages and shipping delays could impact production schedules and cost structures, a challenge that requires supply chain intelligence from VNBiS.
Competitive pressure: The furniture manufacturing industry is highly competitive, with emerging local and international players increasing market saturation.
Regulatory and compliance risks: Operating in Vietnam requires strict adherence to labor laws, environmental regulations, and trade policies, which can pose administrative and financial burdens.
Dependence on foreign markets: A significant portion of Hang Lam Furniture's revenue is tied to exports, making it vulnerable to fluctuations in global demand and tariffs. VNBiS insights can help the company navigate international market risks.

Addressing these challenges will be critical for sustaining long-term growth and profitability.

Future Outlook and Opportunities

Looking ahead, Vietnam Hang Lam Furniture is well-positioned for continued expansion. With rising global demand for high-quality furniture and Vietnam’s growing reputation as a manufacturing powerhouse, the company is poised to capitalize on emerging opportunities while navigating industry challenges. Strategic investments in automation, supply chain resilience, and market diversification could further solidify its standing. VNBiS data-driven insights can assist in identifying new business opportunities and mitigating risks.

Conclusion

Vietnam Hang Lam Furniture Company Limited exemplifies the success of Vietnam’s manufacturing sector, backed by foreign investment and strategic growth initiatives. However, it must address financial and operational challenges to sustain long-term success. As the company continues to expand its footprint, leveraging insights from VNBiS business intelligence and other analytics sources can enhance risk assessment and strategic decision-making in a competitive market.

Legal Profile

English Name:

VIETNAM HANG LAM FURNITURE COMPANY LIMITED.

Vietnamese Name:

CÔNG TY TNHH ĐỒ GỖ HANG LAM VIỆT NAM

Short Name:

VN HANG LAM FURNITURE CO.,LTD

Business ID (TIN):

3700650601

Date of Registration:

12 May 2005

Registered Office:

Ho Chi Minh City Department of Finance

Ownership Status:

FDI

Operation Status:

Active

Contacts

Key Decision Makers:

WANG, F

Address:

Lot D4-CN, D5-CN, D6-CN, D7-CN, D8-CN, D9-CN, My Phuoc 2 Industrial Park, Ho Chi Minh City, Vietnam

Phone:

+84 976 776 161

Branch:

Lot F-11-CN, My Phuoc 2 Industrial Park, Ho Chi Minh City, Vietnam

Business Sector

Key business lines:

VSIC:

3100 Manufacture of furniture

NACE:

31.01 Manufacture of furniture

Industry Sales Growth

CAGR (2019 - 2023)

0.95%

YoY (2023)

-8.30%

Companies by industry

Company distribution and propportions

8,777

0.3019%

Key Industry Players

Top 10 companies in manufacture of furniture industry

rochdale spears co., ltd vietnam hang lam furniture company limited. phu tai joint stock company glory oceanic (vietnam) co., ltd wanek furniture limited liability company nitori furniture vietnam epe millennium furniture co., ltd jason furniture viet nam company limited happy furniture (vietnam) co.,ltd. keeson (binh duong) company limited

Payment History

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Financial Performance

Assets	44.70%
Owner’s Equity	-63.30%
Working Capital	52.56%
Net Worth	96.89%
Sales	94.04%
Operating income	23.46%
EBIT	-96.93%
Gross Profit Margin	23.06%
Debt to EBITDA	26.16%

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Opinion from Analysts

Specific Questions About VIETNAM HANG LAM FURNITURE COMPANY LIMITED.

When did VIETNAM HANG LAM FURNITURE COMPANY LIMITED. start operating?

VIETNAM HANG LAM FURNITURE COMPANY LIMITED. was started in 12 May 2005

What industry does VIETNAM HANG LAM FURNITURE COMPANY LIMITED. operate in?

VIETNAM HANG LAM FURNITURE COMPANY LIMITED. is operating in "Manufacture of furniture" industry

How can I contact VIETNAM HANG LAM FURNITURE COMPANY LIMITED.?

VIETNAM HANG LAM FURNITURE COMPANY LIMITED. phone numbers is +84 976 776 161

What adverse news is there about VIETNAM HANG LAM FURNITURE COMPANY LIMITED.?

VIETNAM HANG LAM FURNITURE COMPANY LIMITED.’s has 1 bad news

What is stock symbol of VIETNAM HANG LAM FURNITURE COMPANY LIMITED.?

VIETNAM HANG LAM FURNITURE COMPANY LIMITED. is not listed company

Where is the location of VIETNAM HANG LAM FURNITURE COMPANY LIMITED.?

VIETNAM HANG LAM FURNITURE COMPANY LIMITED. is located at Lot D4-CN, D5-CN, D6-CN, D7-CN, D8-CN, D9-CN, My Phuoc 2 Industrial Park, Ho Chi Minh City, Vietnam

What is VIETNAM HANG LAM FURNITURE COMPANY LIMITED.’s business registration?

VIETNAM HANG LAM FURNITURE COMPANY LIMITED. business registration is 3700650601

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VIETNAM HANG LAM FURNITURE COMPANY LIMITED.