VEGETEXCO VIETNAM.,JSC: A Leading Publicly-Held Player in Vietnam’s Agricultural Trade Sector

VIETNAM NATIONAL VEGETABLE, FRUIT AND AGRICULTURAL PRODUCT CORPORATION - JOINT STOCK COMPANY (TỔNG CÔNG TY RAU QUẢ, NÔNG SẢN - CÔNG TY CỔ PHẦN), operating under the short name VEGETEXCO VIETNAM.,JSC, is one of Vietnam’s most recognizable names in the trade and processing of agricultural commodities. With over 14 years of operation, the company continues to play a vital role in the supply chain of fresh produce and processed food, serving both domestic and international markets.

Legal Framework and Corporate Status

Established on June 30, 2010, and registered with the Hanoi Department of Planning and Investment, VEGETEXCO operates as a joint stock company with a public listing on the OTC market under the symbol Vegetxco.

• Business ID and TIN: 0101385740

• Charter & Paid-up Capital: USD 58.46 million

• Ownership Structure: Public company with diverse Vietnamese shareholders

The company’s main office is located at No. 2, Pham Ngoc Thach Street, Dong Da District, Hanoi, and it maintains operational branches in Binh Phuoc and additional facilities in Hanoi.

Leadership and Management

VEGETEXCO VIETNAM is led by an experienced Vietnamese executive team:

• Chairman: Mr. Mai Xuan Son

• General Director: Mr. Le Anh Dung

• Deputy General Director: Mr. Tran Anh Kha

The company employs around 300 staff, ensuring a lean yet highly coordinated structure for managing nationwide operations.

Business Lines and Activities

The core focus of VEGETEXCO is in the wholesale of vegetables, fruits, and agricultural products. Beyond that, its registered business activities span a wide range of sectors, including:

• Processing and preserving food products (fishery, fruit, and vegetable-based)

• Starch, bakery, and meal manufacturing

• Machinery and equipment repair

• Forestry activities

• Installation of industrial machinery

• Manufacture of paper packaging and industrial steam supply

This diversification underlines the company's role not only as a food wholesaler but also as an integrated player in agri-processing and logistics infrastructure.

Financial Highlights

FY 2023 marked a year of explosive sales growth, despite a sharp decline in profit:

• Total Assets: USD 205.11 million (↑39.24% YoY)

• Revenue: USD 276.04 million (↑496.11% YoY)

• Profit: USD 361,071 (↓81.34% YoY)

• Owner’s Equity: USD 108.42 million (↑0.33% YoY)

• Working Capital: USD 61.61 million

The significant surge in revenue suggests robust demand recovery or expanded market reach. However, the drastic drop in profit implies margin pressure, possibly due to increased input costs, logistics inefficiencies, or post-COVID operational challenges.

Shareholding Structure

VEGETEXCO’s ownership is dominated by several notable Vietnamese entities:

• T&T Group JSC: 35%

• T&T Agriculture Co., Ltd.: 22.2%

• Vietnam National Aviation Insurance Corporation: 15.17%

• Saigon - Hanoi Insurance Corporation: 15%

• Quang Ninh Port JSC: 12.2%

• Other shareholders: 0.43%

This composition reflects strong domestic institutional support, ensuring capital backing and potential synergy in logistics, insurance, and agriculture.

Strategic Positioning

With a legacy rooted in Vietnam’s agricultural development strategy, VEGETEXCO VIETNAM.,JSC remains a vital contributor to food security, agri-export supply chains, and sustainable development. Despite recent profit volatility, its asset strength, ownership base, and market footprint make it a key player in Vietnam’s agri-business landscape.

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