Longwin Power Technology Company Limited (Vietnam)

Founded in Sep 2019 in Hung Yen Province, the subject is engaged in manufacturing generators, and covers of generators for export. It has hired the factory area of 26,748 square meters from AN THANH PHAT INVESTMENT AND IMPORT – EXPORT COMPANY LIMITED and took about a year for workshop repair and machinery installation. As revealed, the project has been put into official operation since about Sep 2020. According to its administration staff, the subject has two workshops in which the first workshop is responsible for manufacturing generators (design capacity of 10,000 tons per year). A part of the second workshop is used for manufacturing covers of generators (design capacity of 1,500 tons per year). Generators are exported directly to the USA market, and the cover products are exported to the parent company in China. The operation still obtained good growth until the 4th quarter of last year. The number of orders clearly reduced, and the situation has extended up to now. Accordingly, its labor force has been cut down to about 110 people instead of 130 in mid-2023 (formerly 200 workers), added she.Because there are no orders yet, the second phase of its project has not yet been put into production even though it has been completed. As revealed, the second phase of its project was carried out on the remaining area of workshop 2, was implemented in May 2023. In this phase, the subject expands to produce generator engines with a design capacity of 8,000 tons per year. As revealed, this kind of product are expected to go into operation in 2024 but the specific date has not been updated.