VIGLACERA TIEN SON JOINT STOCK COMPANY

Viglacera Tien Son Joint Stock Company (VIT) is a publicly held Vietnamese enterprise and one of the country’s leading manufacturers of ceramic tiles and refractory products. Established in 2007, the company operates under the Viglacera Corporation Group, a major industrial conglomerate in Vietnam’s construction materials industry. With more than 18 years of operational experience, VIT has become a key supplier to domestic and regional construction markets, recognized for its high quality ceramic and granite products.

In 2023, Viglacera Tien Son recorded total assets of USD 92.83 million and sales of USD 82.09 million, reflecting a slight 0.15% decline in revenue compared to 2022. Profit declined sharply to USD 3,507, primarily due to rising input costs and market slowdown; however, the company retained an equity level of USD 23.75 million, supported by a strong asset base and operational stability. Employing 955 staff, Viglacera Tien Son remains an essential player in Vietnam’s building materials and ceramic manufacturing industry.

As a publicly listed company on the Hanoi Stock Exchange (HNX) under the ticker VIT, the company upholds strict standards of corporate governance, transparency, and compliance.

Leadership and Shareholders

The company is chaired by M.X. Đức, who provides strategic oversight and corporate governance. Supporting him are Director Đ.H. Mậu, responsible for operations and production, and Deputy Director T.N. Minh, who manages technical development and process efficiency. Their leadership emphasizes continuous innovation, sustainability, and alignment with Vietnam’s construction growth trajectory.

Viglacera Corporation – JSC, headquartered in Hanoi, is the major shareholder, owning 51% of Viglacera Tien Son’s equity. The remaining 49% is held by other institutional and individual investors. This ownership structure ensures both strategic backing from one of Vietnam’s largest construction material conglomerates and diversified shareholder participation.

Given the company’s significant industry footprint and majority ownership by a state affiliated group, businesses engaging with Viglacera Tien Son should perform thorough due diligence. Vanguard Business Information LLC’s Business Verification Services offer critical insights into VIT’s corporate structure, governance practices, and credit profile, helping investors make secure and well informed decisions.

Financial Growth & Market Risks

In 2023, Viglacera Tien Son’s total assets increased by 2.37%, continuing a stable growth trend, while owner’s equity declined by 7.11% due to compressed margins and rising input costs. Although profitability contracted significantly, the company retains a solid asset foundation and a strong competitive position in Vietnam’s ceramic tile and refractory product market.

The company faces external risks associated with fluctuating raw material prices, energy costs, and construction demand cycles. Its integration within the Viglacera Group offers advantages in supply chain access and technological innovation, mitigating some of these market pressures. Vanguard Business Information LLC’s Risk Management Solutions enable investors and suppliers to assess VIT’s exposure to market volatility, debt sustainability, and financial resilience.

Business Intelligence and Risk Prediction

Based on current financial data and industry trends, Viglacera Tien Son Joint Stock Company is expected to maintain modest revenue stability in the short term, supported by Vietnam’s infrastructure recovery and sustained urban housing demand. Although profit margins are likely to remain narrow in 2024, the company’s strong asset position and institutional ownership ensure continued operational continuity.

What distinguishes Viglacera Tien Son Joint Stock Company is its integration within the Viglacera industrial ecosystem, granting access to advanced manufacturing technology, large-scale production networks, and established export channels. Its geographical advantage, with facilities in Bac Ninh and branches in both Hung Yen and Ho Chi Minh City, allows nationwide distribution and cost-efficient logistics coverage. Furthermore, the company’s technical expertise in refractory and high quality ceramic products positions it as a key supplier to Vietnam’s industrial and commercial construction sectors. Viglacera Tien Son’s combination of corporate backing, production capacity, and brand recognition ensures its enduring role as one of Vietnam’s most reliable ceramic manufacturers.

Vanguard Business Information LLC’s Business Intelligence Reports project gradual performance recovery as energy and logistics costs normalize. Investors should monitor profitability and equity performance closely, as improvements in these areas will be key to strengthening returns. The company’s adherence to governance standards and its connection with the Viglacera parent group provide a reliable foundation for long-term resilience in Vietnam’s construction materials industry.