Dehui Solar Power (Vietnam) Company Limited (Vietnam)

Being founded in Feb 2018, the subject is currently owned by DEHUI NEW ENERGY HOLDINGS PTE. LTD, a holding company in Singapore. It is engaging in processing and assembling PV modules. The output products are mostly exported overseas to China, USA, Germany, New Zealand, South Korea...The subject's annual revenue increased continuously in the first four years of operation. However, according to Ms. Dung, who is in charge of accounting, due to rocketed prices of raw materials and freight rates due to the negative effects of the Covid Pandemic, the company recorded a thin gross profit margin and reported a heavy loss in 2021.Noticeably, Ms. Dung also said that due to the post-Covid economic recession, the demands for PV modules have been narrowed. As a result, the subject received fewer new orders from clients since mid-2022. Especially, it had to cut down production shifts last year to reduce costs. As a result, the subject's business becomes less busy, she added.Especially, in 2022, there was a collective stoppage of the subject's workers because it did not implement the policy for workers well. We guessed that the collective stoppage would be caused by the subject's cutting down production shifts last year. Additionally, in Oct 2022, the subject's Solar panel factory was suspended production temporarily because it did not ensure fire prevention and fighting safety as prescribed by law. Anyway, its factory has been resume operating a few days later after fixing the above error, as revealed.