VINES ENERGY SOLUTIONS JOINT STOCK COMPANY

VINES ENERGY SOLUTIONS JOINT STOCK COMPANY operates as an active joint stock enterprise under the Vietnamese name CÔNG TY CỔ PHẦN GIẢI PHÁP NĂNG LƯỢNG VINES. The company is registered under Tax Identification Number 0109727530. It maintains its transaction office at Technopark Office Building, Vinhomes Ocean Park Urban Area, Da Ton Commune, Gia Lam District, Ha Noi City, Vietnam. At the same time, its registration address is located in the Dinh Vu – Cat Hai Economic Zone, Hai Phong. Established in August 2021, the company has grown rapidly over its relatively short operating history of more than four years.

Legally, the company is structured as a privately held joint stock company, licensed by the Hai Phong City Department of Planning and Investment. Although its registered charter capital stands at approximately USD 80.9 million, paid-up capital had reached a substantially higher level of about USD 267.0 million by the end of 2023, indicating significant capital injections during its expansion phase. The ownership structure is highly concentrated, with VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY holding an overwhelming majority stake, alongside a minimal minority interest from VINGROUP JOINT STOCK COMPANY and an individual shareholder. This structure reflects strong strategic backing from a significant industrial ecosystem.

Governance and executive management are led by Ms. MAI H. N., Chairwoman of the Board, with daily operations overseen by Mr. PHAM K. P., General Director. The leadership profile suggests close integration among ownership, strategic direction, and operational execution, which is typical of capital-intensive, fast-scaling enterprises within large corporate groups.

In terms of registered activities, the company’s primary licensed business line is the trading of its own or rented property and land use rights. However, its asset scale and capital structure suggest that the company plays a broader role in supporting energy-related and industrial infrastructure projects across its parent group’s value chain. From a business intelligence and risk assessment perspective, this highlights the importance of looking beyond headline business lines to understand the company’s strategic function within a larger corporate network—an approach emphasized in VNBIS company profile reports and due diligence analyses.

Financially, the company exhibits a massive balance sheet relative to its revenue base. Total assets reached approximately USD 561.5 million in the most recent fiscal year, while net sales were about USD 84.8 million. The company recorded a substantial net loss of approximately USD 105.7 million, along with negative working capital of approximately USD 333.2 million. At the same time, owners’ equity rebounded strongly to around USD 95.1 million, reflecting capital restructuring and shareholder support rather than operating profitability. Such figures point to a high-risk, high-investment phase, where financial performance is heavily influenced by long-term project development and internal group financing rather than short-term cash generation.

From a credit risk and financial analysis standpoint, VINES ENERGY SOLUTIONS JOINT STOCK COMPANY presents a mixed profile. On one hand, it benefits from strong shareholder backing, substantial equity injections, and strategic importance within a major industrial group. On the other hand, persistent losses, sharp revenue volatility, and profoundly negative working capital underline elevated liquidity and execution risks. These characteristics make the company a typical case where counterparty risk assessment, balance sheet analysis, and ongoing monitoring are critical for lenders, suppliers, and business partners.

Overall, VINES ENERGY SOLUTIONS JOINT STOCK COMPANY should be viewed as a capital-heavy, strategically positioned entity rather than a conventional standalone operating company. Its financial profile underscores why comprehensive company financial reports, credit risk evaluations, and group-structure analysis—such as those provided by VNBIS—are essential for forming an informed and balanced view of its business risks and long-term potential.