Lien Viet Green Foods Joint Stock Company (Vietnam)

Being founded in 2018, the subject is engaged in trading frozen seafood and meat. About 90% of its products are imported and the rest are purchased from the local market. As shared, a part of imported goods is supplied as raw input to its subsidiaries in Kien Giang Province. The subject also wholesales its products to supermarkets nationwide such as WinMart, Big C, and Co-opmart, etc.Financially, to supplement operating capital, the subject mobilized more liabilities, particularly loans. Hence, its ratio of liabilities by total assets tended to go up and reached 82.21% as of 31 Dec 2022. Thus, its capital structure became risky.The subject's annual revenue increased well in the last two years. However, due to a thinner gross profit margin and incurring higher financial expenses, it recorded a noticeable loss last year. Formerly, the company was expected to achieve a revenue growth ratio in the year 2023 of 50% compared to the previous year. However, its export activities slowed down due to the impact of the global economic depression. In addition, its business is usually busy in the third and fourth quarters of each year. As a revelation from the Chief Accountant, in the first half of 2023, the subject achieved nearly VND 230 billion in total sales, meanwhile, its net income was positive. However, its business with domestic clients has also become less busy since the second half of 2023. Thus, its new target total sales for the whole year 2023 just equals the value achieved last year, she added.