International B2B Solution Company Limited (Vietnam)

Previously, the subject only traded rubber. Currently, the subject specializes in processing sole for footwear. Besides, the company also trades stationery. Materials for production are imported from South Korea, China, etc. Currently, Mr. KIM DO HYUNG has replaced Mr. LEE SANG DAE in the position of general director/legal representative. Staff size reduced to about 700 people. According to the share, the business situation is still not stable. Current revenue is down about 50%-60% year over year.In a prolonged social distancing period, the preparation of accommodations for workers in order to maintain continuous production is considered one of the subject's efforts. Especially in the textile and footwear industries, some companies (with a huge labor force) could not handle it and suffered from disruption in business activities. Particularly, the subject's parent company temporarily stopped production from Jul to Sep in 2021. Recently, shoe companies are facing a number of difficulties such as slow purchasing power, a large inventory of goods, making footwear export orders still in decline. Some businesses such as Ty Hung Co., Ltd., and PouYuen Vietnam Co., Ltd. have also had to terminate contracts with thousands of employees.