Qisda Vietnam Co., Ltd (Vietnam)

QVH was invested by QISDA CORPORATION in Oct 2019. The subject hired a ready-built factory and operated officially in 2020. The project is invested under two phases and it will be completed entirely in Jun 2024, a female accountant shared.From its establishment to 2022, the subject concentrated on manufacturing activity, however, it was not effective highly. Therefore, since 2023, it has turned to processing activity (about 80%), and only a small ratio of revenue comes from the manufacturing activity (around 20%). 90% number of orders are exported to members of the group and the remainder is supplied to small customers in the local market.According to the accountant, in the three first years of operation, the tangible assets of the subject were largely depreciated, while its factory had not operated at full capacity yet. Along with high price of input materials, large financial and operating expenses, caused heavy loss.Shifting towards the processing activity caused a reduction in total turnover, only reaching USD 35.6 million, equivalent to more than VND 850 billion in 2023. However, that also helped the subject to diminish loss last year, an accountant stated. The subject hopes that its business result will be improved and gain profit in 2024.