Vinh Hung Dat Service - Trading - Production Company Limited (Vietnam)

The subject specializes in manufacturing carton packaging and other packaging products made from paper. It is operating under the charter capital of VND 40 billion, contributed capital by Mr. Dao Ngoc Kim and Mr. Dao Quang Hoa.It is known that the materials are imported from suppliers in the Netherlands (via Representative office in Vietnam), Taiwan, China, and South Korea. We have found the export data in 2019, accordingly, the subject exported carton pads to T&G Shenzhen Green Packaging Co., Ltd in China but currently, the subject does not have export activity. As shared by Ms. Lin, an accountant of the subject, the Pandemic also affected the subject's business activity. Besides the increase in the price of input materials for production, the subject has difficulty in debt collection activities due to late payments by its customers. The growth of turnover in 2020 was lower than in previous years but it still reached 34.20%, to VND 740,578,611,664 thanks to stable client sources. The profitability performance was modest due to high costs of goods sold and operating expenses.