Yi Feng Footwear Joint Venture Co., Ltd (Vietnam)

The subject is a joint venture between a Vietnamese company and a Taiwanese investor of which the foreign partner has invested 90% of the total charter capital. Founded in early 2014, it has been officially put into production since Mar 2015. Its main activity is to manufacture and process shoes for export. The destinations are Taiwan, the USA, and the EU market. YI FENG JV CO.,LTD is processing shoes for some world-famous brands, including ASICS, NEW BALANCE, TIMBERLAND, VANS, etc. Besides the initial production base at the headquarter, it has been investing in another factory in Long An Province via an establishment of a branch there. It is known that the branch was established in 2020, in fact, it was a merger with Minh Thao Trading and Steel Manufacturing Company Limited as a revelation from the company's accountant.Last year, the subject achieved improvement in both revenue and profit. Net sales kept increasing to reach VND 602 billion, and although the net income was negative, the loss had been strongly cut down in comparison with previous years. The gross profit margin was also positive.