Eastech (Vn) Company Limited (Vietnam)

Established in Jan 2019, EASTECH (VN) CO., LTD is principally engaged in processing speakers, sound systems, sound bars, etc. for famous electronic brands, including Samsung, LG, Panasonic, and Sony,…According to the Chief Accountant, more than 90% of its output is directly exported overseas, reaching many markets such as South Korea, China, Hong Kong, Japan, India, the USA, the EU market, etc. but under the direction of the parent company or Eastech Electronics (HK) LTD. Its revenue generated from the parent company and Eastech Electronics (HK) LTD in 2022 was VND 3,069.5 billion and VND 656.6 billion which held 81.6% and 17.5% of the total revenue, respectively. The USA is the main destination which brings 50% of export turnover. Thanks to stabilizing the operation, the subject is growing well and the subject started making a profit in 2022 with impressive figures.According to the former plan, the subject would rent an additional workshop next to the current factory to serve the needs of some more customers in Europe. Therefore, total investment capital and charter capital were expected to increase to USD 21 million and USD 9 million, respectively. However, the company changed its plans due to the short lease workshop term. The subject has renovated and built a workshop right on the company's campus. Therefore, capital also did not have to be adjusted as originally planned. According to the chief accountant, its business results for fiscal year 2023 were good with a profit of about VND 240 billion.