Hiep Thanh Rubber Industries Corporation (Vietnam)

The subject specializes in manufacturing and trading natural rubber and rubber latex. Its portfolio of products includes SVR 3L, SVR 10, RSS, etc. As shared, it imports raw materials from Cambodia and Singapore, along with domestic market. Its products are exported to many countries such as China, Malaysia, Brazil, India, Indonesia, etc.According to industry information, export turnover of the entire rubber industry in 2022 increased compared to the previous year. Specifically, the statistics from Vietnam Customs show that the export turnover of the entire rubber industry in 2022 was estimated to reach USD 3.31 billion, output of 2.14 million tons, an increase of 2.16% compared to 2021. In which, rubber products were estimated at USD 1.08 billion. However, the profits of rubber manufacturing enterprises did not grow but also went backward in 2022. Entering this year, there is an opportunity to pull rubber exports out of negative growth. Since the second quarter of 2023, rubber exports improved compared to the first quarter of this year, but exports and turnover were still low compared to the same period last year. Accumulated in the first 9 months of 2023, rubber exports reached 1.42 million tons, worth USD 1.89 billion, up 1.6% in volume but down 17.4% in value compared to the same period in 2022. In particular, rubber export turnover in this period decreased by 20.5% compared to the same period last year. In the context of Vietnam's rubber exports falling to negative levels, optimistic signals in the giant import market of China have rekindled hope for Vietnamese rubber exporters. China's push to import has caused world rubber prices to increase sharply recently. This increases the possibility of further "warming up" of the Vietnamese rubber market. With this advantage, it is expected that the subject's 2023 results will be better and help the subject come over the loss in 2022.