VINA ONE STEEL MANUFACTURING CORPORATION

VINA ONE STEEL MANUFACTURING CORPORATION (CÔNG TY CỔ PHẦN SẢN XUẤT THÉP VINA ONE): A Privately-Held Steel Producer Posting Solid Asset Growth

VINA ONE STEEL MANUFACTURING CORPORATION, or VINAONE STEEL, is a long-established private steel manufacturer based in Long An Province, Vietnam. Operating under Business ID and Tax Code 1100549268, the company has been in business since December 11, 2007, and has steadily developed into one of the region’s most consistent players in the steel manufacturing and distribution sector.

The company specializes in the manufacturing and trading of steel products, including fabricated metal goods and cast iron, serving Vietnam’s construction and industrial supply chain. VINAONE STEEL is privately held and led by Mr. Huynh Nghia Thien, who also serves as the company’s General Director and holds a majority stake in the enterprise.

Financial Highlights: Steady Sales, Strengthened Equity, Modest Profits

In 2023, VINAONE STEEL recorded sales of USD 460.3 million, maintaining a flat growth rate compared to 2022. While sales remained stable, net profit increased to USD 871,186, up 67.66% year-over-year, though still representing a small margin relative to revenue size. The company’s total assets rose to USD 301.57 million, reflecting an 11.58% increase—indicating investment in capacity or improved asset management.

Equity also strengthened considerably, climbing to USD 81.81 million, which supports its solvency and reflects reinvested earnings and owner capital. The company’s working capital expanded sharply to USD 20.39 million, signaling a healthier liquidity position compared to prior years and enabling greater operational flexibility.

Structure, Ownership, and Workforce

VINAONE STEEL operates as a joint stock company, but remains tightly held, with majority ownership retained by its founder and General Director, Mr. Huynh Nghia Thien. The company employs around 1,000 staff, including 200 in administrative and management roles.

With full control under Vietnamese private ownership, the firm enjoys direct and agile leadership, though such a structure also concentrates decision-making, which may affect governance or succession planning.

Broader Operations and Business Registration Scope

In addition to steel production, VINAONE STEEL is licensed for a wide array of business activities, such as:

• Metal processing and machining

• Manufacturing of cutlery and hand tools

• Non-alcoholic beverage production

• Fertilizer manufacturing

• Animal feed production

• Wholesale of metals, ores, and construction materials

• Freight transport and vehicle leasing

• Power generation and land trading

This diverse registration suggests the company has either actively pursued vertical integration or is positioning itself for multi-sector expansion—common among industrial groups in Vietnam.

Considerations and Risk Monitoring

While VINAONE STEEL has demonstrated solid asset and equity growth, its low net profit relative to revenue indicates margin pressure, potentially due to raw material volatility, energy costs, or competitive pricing dynamics. In such a capital-intensive industry, even stable revenue may mask underlying financial vulnerabilities.

For suppliers, lenders, and potential business partners, it is essential to evaluate more than headline figures. Tools from Vanguard Business Information (VBI) can provide detailed insights through Risk Management Services and Business Verification, including credit risk, operational solvency, and liquidity analysis.

Final Assessment

VINA ONE STEEL MANUFACTURING CORPORATION continues to operate as a stable and locally trusted steel producer with an expanding asset base and strong equity foundation. Its steady performance reflects prudent financial management, but its tight profit margins and broad operational scope warrant ongoing observation. In Vietnam’s competitive steel landscape, informed engagement—backed by real-time data from platforms like VBI—is essential to secure reliable partnerships.