Hawee Mechanical And Electrical Joint Stock Company (Vietnam)

Founded in Mar 2004 in Ha Noi City, the subject is engaged in constructing mechanical and electrical (M&E) work for civil and industrial projects. As revealed, the subject focuses more on providing its services to high-building and hotel projects. In 2018, the subject started constructing M&E works for solar power projects. According to Mr. Duong - the subject' accountant, it participates in solar power projects with the role as general contractor in 2020. In 2021, the subject might construct solar power project in Southeast Asia, said by this staff.Besides the subject, its major shareholders also invests in other companies like HAWEE ENERGY JOINT STOCK COMPANY - HAWEE ENERGY (formerly was HAWEE INDUSTRIAL CONSTRUCTION JOINT STOCK COMPANY - HAWEE IDC) and HAWEE PRODUCTION AND TRADING JOINT STOCK COMPANY (HAWEE PT). As revealed, the subject will prioritize to use products of HAWEE PT in its project (unless having other requirements of the investor). The subject also implements ME works in projects of HAWEE ENERGY. Besides, in Nov 2020, its major shareholders also established HAWEE PARK LAND JOINT STOCK COMPANY to participate in the field of real estate investment projects.As reported data, The company's total sales had an impressive growth between 2015 and 2017 and it continuously expanded in 2018 and 2019. According to Mr. Duong - its accountant, the subject has confirmed its position through its quality. Thanks to that, it gained more contracts. Besides, the unit price also increased, too. However, reported profit was still humble compared to the volume of sales and they tended to go down in 2018 and 2019. The increase of Costs of goods sold per unit and Loan interest expenses were believed to be the main reason for that decline.Due to negative effects of covid-19 Pandemic, its new contracts had not been signed or not implemented in early 2020. It made total sales in the first half 2020 decreased compared to the same period in 2019. As result, total sales in the whole 2020 decreased approximately VND 274 billion comapred to 2019; equivalent to decline rate of 10.66%. Thanks to the decrease of Loan interest expenses and other operating expenses, profit after tax increased in 2020.According to the balance sheet, its operation was still based on liabilities. Liabilities by total assets ratio was still 87.07% at year-end 2020. Loans and financial leases as well as credit from partners were the biggest funding resources. The balance sheet also showed noteworthy amount of other payable. Most of them were 0% interest loans from individuals in the company (namely Mr. Duong Xuan De, Mr. Trinh Van Ha, Ms. Nguyen Thi Hai Yen, etc). Capital structure might be less risky in reality.