Vn Ecofloor Joint Stock Company (Vietnam)

KIEN AN PLASTIC JOINT STOCK COMPANY has been officially renamed to VN ECOFLOOR JOINT STOCK COMPANY since early August 2023. It specializes in manufacturing SPC click floorings, PVC marble sheets, 3D pictures, profiles, and accessories. In an interview with the subject's Deputy General Director, we are shared that the majority of input sources for production are directly imported from China, Taiwan, the USA, South Korea, etc. The domestic purchasing is mainly stone powder. Its products are mostly exported overseas, and domestic consumption is insignificant now, added he. The largest export market is currently the USA with about 90% of total turnover, having several typical customers such as CFL FLOORING INTERNATIONAL LIMITED, EF ENTERPRISES, etc. It is known that high inflation as well as the war between Russia and Ukraine clearly affected the order situation. As stated, in the first months of last year, exporting to the EU market remarkably declined, making its revenue go down clearly. In that circumstance, the subject has promoted to exploit the USA market and find more clients from this region in the last months of 2022. However, the depression in revenue and profit was inevitable. In FYE 31 Dec 2022, it suffered a decrease of 31.78% in net sales and 99.09% in net income year-on-year.According to the Deputy General Director, the war and post-COVID economic recession have continued to have negative influences on the subject's operation this year. The number of orders has significantly decreased against last year. As estimated, its turnover could attain just below VND 400 billion in FYE 31 Dec 2023.