Thanh Su Production Trading Service One Member Company Limited (Vietnam)

Founded in 2013 by Mr. Dang Huu Su, the subject is engaged in processing and exporting cashew nuts. The majority of input sources (about 70% - 70%) are directly imported overseas, mainly from India and Africa as a revelation from Mr. Trung - a manager of the company. In addition, it cooperates with more than 10 households in the locality to collect domestic input sources, added he. All products are exported to international markets such as South Africa, the Middle East, the USA, EU, and Japan, ...  In the context of the COVID pandemic outbreak in Vietnam, the subject still ensured the input materials and the three-on-site operation model was deployed sometimes to keep production, therefore, its business activity was not interrupted, and it received more orders because some manufacturers could not remain stable processing, resulting in an increase in the revenue in 2020 and especially in 2021, said Mr. Trung. Net sales reached a high number of VND 480.3 billion in 2021. In 2022, its operation has significantly decreased due to the negative impact of the world economic recession. According to Mr. Trung, the export orders have been reduced partly due to a rise in the input material price.Regarding financial leverage, the ratio of liabilities to total assets was always high, standing at 72.74% as of 31 Dec 2021. Noticeably, the debt to assets ratio significantly declined to 21.72% from 71.29% as of 31 Dec 2020. Meanwhile, it additionally recorded a remarkable number of other payable (at VND 33 billion), which might be internal borrowing, yet we could not verify it. Anyway, such high financial leverage made its capital structure unsafe. The modest cash ratio negatively impacted its instant payments as well.Generally, the subject is operating normally in the industry. It is expected that credit transactions with it could be deployed under periodic monitoring.