Soc Trang Seafood Joint Stock Company (Vietnam)

The subject was founded in 1978 as a state-owned company. After that, it was equitized in May 2006. It has been a public company since Jun 2007. The company specializes in processing products from shrimp. All of the raw materials for its processing are collected from farms in Soc Trang, Bac Lieu, and Ca Mau Provinces. Most of the products are exported to the USA, EU Countries, Japan, Canada, etc., and small rate is supplied to the domestic market.It could be seen that the subject's business results were tremendous growth in 2020 when net sales increased by 44.39% and the net income boomed by 189.41%, having reached VND 6,925,726,671,519 and VND 756,832,759,593 in respectively. In the next two years, the subject still recorded growth in net sales but the net income deeply decreased in 2021 due to high costs and was restored in 2022, having reached VND 554,771,645,691. Generally, the subject's business operation was very effective in the industry. Thanks to that, the self-financing capacity was also very high and the company only used 18.45% of total assets from liabilities. Both liquidity and solvency were very favorable.