Y VIET COMPANY LIMITED

Y VIET COMPANY LIMITED (CÔNG TY TNHH Ý VIỆT): Strong Sales Growth Shadowed by Deep Financial Strain

Y VIET COMPANY LIMITED is a Hanoi-based private manufacturing enterprise that has drawn attention in recent years for its impressive revenue growth despite increasingly fragile financial underpinnings. Founded on January 18, 2001, and operating under business ID 0101095304, the company is located at the 8th Floor, Tower A, Song Da Building, No. 18, Pham Hung Street, My Dinh 1 Ward, South Tu Liem District, Hanoi. It also maintains a registered production base at Duyen Thai Industrial Cluster in Thuong Tin District.

The company is legally active and privately held, with Mr. Dao T. P. holding 85% ownership and serving as Director, while Mr. Le D. P. holds the remaining 15% and is Vice Director. Y VIET COMPANY LIMITED specializes in manufacturing iron and steel, particularly structural components for roads and bridges, and also engages in a broad range of wholesale, retail, logistics, construction, and accommodation-related activities.

The company’s recent financials present a mixed picture. On one hand, Y VIET achieved remarkable top-line growth, with total sales rising from USD 74.6 million in 2021 to nearly USD 148 million in 2023—an 18.76% year-over-year gain. This doubling of revenue in just two years would typically signal strong demand and market expansion, especially in the context of Vietnam’s booming construction and infrastructure sectors.

However, a closer look reveals growing financial stress. Despite high sales, the company recorded a net loss of over USD 1.2 million in 2023, following a larger loss of USD 1.48 million the year prior. Most notably, Y VIET’s owner’s equity has deteriorated into negative territory, falling from USD 803,000 in 2021 to negative USD 1.89 million by the end of 2023. Its working capital has also turned negative at USD -2.36 million, raising concerns about short-term liquidity and operational sustainability.

The asset base did grow dramatically in 2022, reaching over USD 53 million, but slightly contracted in 2023 to USD 49.2 million. This contraction, coupled with ongoing losses and eroded equity, places the company at elevated financial risk. From a credit risk and business verification standpoint, these signals are significant. Even in the presence of strong sales, negative net worth and persistent losses point to potential insolvency risk if capital infusions or operational improvements are not made.

Y VIET COMPANY LIMITED remains a significant player in Vietnam’s steel manufacturing space, but its financial outlook calls for caution. Any trade, credit, or investment relationships should proceed only with a comprehensive review of updated financial disclosures and liquidity planning. For those relying on Vietnam private financial data to assess counterparties, this case is a reminder that strong sales alone do not guarantee stability.