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TABLE OF CONTENTS
2
Contents Page Contents Page
ABBREVIATIONS4
1.4. Textile dyeing 43
SUMMARY 5 1.5. Apparel 47
I. Business environment 7 1.6. Distribution and export system 54
1. Macroeconomic situation 7 1.7. Machinery of textile apparel industry 56
2. Legal framework 16 2. Vietnam textile and apparel market 59
3. Trade agreements 21 2.1. Vietnam textile and apparel market's overview 59
II. Industry overview 27 2.2. Input materials 67
1. World textile and apparel market 27 2.3. Spinning 74
1.1. Value chain of textile and apparel industry 29 2.4. Textile dyeing 80
1.2. Input materials 33 2.5. Apparel 86
1.3. Spinning 40 2.6. Distribution and export system 92
TABLE OF CONTENTS
3
Contents Page Contents Page
III. Industry outlook and risk 95 IV. Enterprise analysis 110
1. Industry risk 95 1. Garment enterprise analysis 110
1.1. 5-forces analysis 95 2. Textile and fiber enterprise analysis 125
1.2. SWOT analysis 99 IV. Conclusion 138
1.3. Risks 101 Appendix 140
2. Industry outlook 104
2.1. Industry planning 104
2.2. Forecast and assessment of industry outlook 107
ABBREVIATIONS
ABBREVIATIONS
4
Shortened
formFull form
Shortened
formFull form
CAGR Compounded Annual Growth Rate PET Polyethylene terephthalate
CMT Cut – Make – Trim GDVC General Department of Vietnam Customs
CNTAC China National Textile & Apparel Council GSO General Statistics Office of Vietnam
CPI Consumer Price Index CI Corporate Income
JCS Joint Stock Company Co., Ltd. Company Limited
NR Net Revenue FA Fixed Assets
EU European Union LTA Long-term Assets
GDP Gross Domestic Product LSA Short-term Assets
OBM Original brand manufacturer UAE The United Arab Emirates
ODM Original design manufacturer VCOSA Vietnam Cotton and Spinning Association
OEM Original Equipment Manufacturer VINATEX Vietnam Textile Corporation
VITAS Vietnam Textile and Apparel Association
SUMMARY
5
• The world textile and apparel industry is deeply influenced by
macroeconomic fluctuations.
• China, The United States, Germany and Japan are the largest textile
and apparel consuming countries in the world.
WORLD TEXTILE AND APPAREL MARKET
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SUMMARY
6
• Textile and apparel industry is one of the key sectors of Vietnam and
has the second largest export turnover with export value contributing
10-15% to GDP.
• Vietnam is one of the top 10 textile and apparel exporting countries in
the world.
• Domestic textile and apparel enterprises are weak in the knowledge-
intensive stages such as building distribution system, exporting,
designing and branding..
VIETNAM TEXTILE AND APPAREL MARKET
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TABLE OF CONTENTS
Part I. Business environment
1. Macroeconomic situation
2. Legal framework
3. Trade agreements
4. Trans-Pacific Partnership Agreement
7
8
Source: VIRAC, GSO
VND Trillion
GDP growth rate by quarter, 2015 - 2017
GDP by current price and GDP per capita, 2013 - 2017
Source: VIRAC, GSO
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Gross domestic product in 2017 is estimated to increase by 6.81% over 2016,
Part I. Business environment
1. Macroeconomic situation
FDI in 2017 had a strong growth
9
Sources: VIRAC, FIA
FDI capital, 2015-2017Billion USD
FDI attraction by sector, 2017
Sources: VIRAC, FIA
Part I. Business environment
1. Macroeconomic situation
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10
Total value of exported and imported commodity of Vietnam in 2017 reached 425.12 billion USD
Sources: VIRAC, GSO
Billion USDBillion USD
Imports and exports of commodity, 2006 - 2017
Part I. Business environment
1. Macroeconomic situation
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Part I. Business environment
1. Macroeconomic situation
Source: VIRAC
11
Source: VIRAC, GDVC
Source: VIRAC, GDVC
USD million
USD million
Main imported products from China, 2017e
Main exported products to China, 2017e VND/CNY exchange rate, 2/1016 - 12/2017
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Part I. Business environment
1. Macroeconomic situation
12
Source: VIRAC, SBV
VND/USD exchange rate, 2013-2017
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In 2017, the VND / USD exchange rate was quite stable around VND 22,400
Part I. Business environment
1. Macroeconomic situation – Impact of related sectors
Project LocationInvestment capital
(USD billion)
Capacity
(million tons/year)
Petrochemical refining projects being implemented in Vietnam
13
Source: VIRAC
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Part I. Business environment
1. Macroeconomic situation – Impact of related sectors
• For the whole of 2017, the total retail sales of consumer goods and services are estimated at 3,934.2 VND trillion,
14
Source: VIRAC, GSO
Retail sales of goods, 2010 - 2017
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Leading retailers in Vietnam market, 2016
Brand Company
Number of stores Revenue
in 2016
(USD
million)2011 2013 2015
Source: VIRAC, Retail Asia Publishing
Boom of modern retail systems:
(*) estimated
Part I. Business environment
1. Macroeconomic situation – Impact of related sectors
15
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Part I. Business environment
1. Macroeconomic situation
2. Legal framework
3. Trade agreements
4. Trans-Pacific Partnership Agreement
Part I. Business environment
2. Legal framework
Group of regulations and standards on textile and apparel production:
17
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18
Group of policies and regulations affecting the industry
Part I. Business environment
2. Legal framework
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• The social insurance law of 2014 stipulates that from January 1, 2018, women workers pay social insurance for 30 years to receive 75% of pension.
19
Part I. Business environment
2. Legal framework
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Part I. Business environment
2. Legal framework
• Corporate Income Tax
20
Group of regulations on import and export:
Group of tax regulations:
• Import TaxContent is intentionally removed for demo purpose
TABLE OF CONTENTS
21
Part I. Business environment
1. Macroeconomic situation
2. Legal framework
3. Trade agreements
4. Trans-Pacific Partnership Agreement
Part I. Business environment
3. Trade agreements
22
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Part I. Business environment
3. Trade agreements
23
Vietnam – South Korea Free Trade Agreement
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Part I. Business environment
3. Trade agreements
24
Vietnam – EU Free Trade Agreement
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25
Comprehensive and Progressive Agreement for Trans-Pacific Partnership
Part I. Business environment
3. Trade agreements
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Part I. Business environment
3. Trade agreements
26
Regional Comprehensive Economic Partnership (RCEP)
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TABLE OF CONTENTS
Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
27
Part II. Industry overview
1.1 Industry size
• In 2017, the global textile and garment turnover is estimated at about USD 1,400 million.
28
Sources: VIRAC, Euromonitor Passport Data 2017
Revenue growth of global textile and apparel industry, 2012 – 2021f
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29
Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
Part II. Industry overview
1. World textile and apparel market – 1.2. Value chain of global textile and apparel market
30
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Value chain of global textile and apparel industry is divided into 5 basic stages
31
Part II. Industry overview
1. World textile and apparel market – 1.2. Value chain of global textile and apparel market
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Part II. Industry overview
1. World textile and apparel market – 1.2. Value chain of global textile and apparel market
CMT OEM/FOB
ODM
OBM
32
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Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
Part II. Industry overview
1. World textile and apparel market – 1.3. Input materials
• Cotton is the input material of the textile and apparel industry to produce natural fibers. Cotton is grown in more than 100 countries around the world
and is highly concentrated in three major producing countries: India, China and the United States.
34
Source: VIRAC, Indexmundi
USD/kgWorld cotton price, 9/2012 - 12/2017
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Part II. Industry overview
1. World textile and apparel market – 1.3. Input materials
35
MEG price fluctuations in Asia, 4/2016 – 1/2017
PTA price fluctuations, 4/2015 – 4/2017
• In the first months of 2017, prices of MEG, PTA, Chip and other products in
Asian polyester chains such as PX, PSF tended to increase significantly.
Polyester Chip Price Fluctuations in China, 4/2016-1/2017
Chip
USD/ton
MEG
Source: VIRAC, EmergingTextiles
Source: VIRAC, EmergingTextilesSource: VIRAC, EmergingTextiles
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Part II. Industry overview
1. World textile and apparel market – 1.3. Input materials
36
Million tons
Source: VIRAC, Cotton incSource: VIRAC, Cotton inc
Million tonsGlobal cotton production, 2012/2013 - 2017/2018e Global cotton consumption, 2012/2013 - 2017/2018e
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Part II. Industry overview
1. World textile and apparel market – 1.3. Input materials
37
There are two method of producing cotton in the world:
Brazil's cotton productivity has been greatly improved thanks to
technological improvements.
Indian cotton productivity is low due to unfavorable natural
conditions.
Cotton productivity in Vietnam is low compared to that of many other
countries in the world.
Source: VIRAC, USDA, Indexmundi
Cotton productivity in some countries, 2015/2016 - 2017/2018e
Kg/ha
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Part II. Industry overview
1. World textile and apparel market – 1.3. Input materials
38
Bangladesh
Turkey
India
The United States
China
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Part II. Industry overview
1. World textile and apparel market – 1.3. Input materials
39
Thousand tons Thousand tons
Source: VIRAC, USDASource: VIRAC, USDA
World cotton exports, 2012/13 - 2017/18e World cotton imports, 2012/13 - 2017/18e
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Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
Part II. Industry overview
1. World textile and apparel market – 1.4. Spinning
Source: VIRAC, Emerging Textile
41
Source: VIRAC, The fiber year, FRED
Price index of fiber and oil up to 4/2016Million tons
Fiber production and consumption worldwide, 2000 - 2016
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Part II. Industry overview
1. World textile and apparel market – 1.4. Spinning
Cotton and polyester fibers are the two main types of fibers.
42
Global demand for types of fiber 1980 – 2030e
Source: VIRAC, PCI Fibres
Million tons
Source: VIRAC, ICAC, CIRFS, TFY, FEB
Global fiber consumption structure, 2016 Structure of global consumption purpose of fiber, 2014
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43
Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
Part II. Industry overview
1. World textile and apparel market – 1.5. Textile dyeing
Source: VIRAC, UNcomtrade
44
Global fiber and fabric production index, Q1/2014 –Q3/2016
USD billion
Source: VIRAC, ITMF
Global textile trade, 2010 – 2016e
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Part II. Industry overview
1. World textile and apparel market – 1.5. Textile dyeing
45
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46
Sources: VIRAC, WTO Secreteriat
Sources: VIRAC, WTO Secreteriat
In 2016, in terms of the textiles exports, China, EU28 and India are still the
three countries and regions with the largest export turnover,
Billion USD
Billion USD
Top 10 largest textile exporters in the world, 2016
Top 10 largest importers of textiles in the world, 2016
Part II. Industry overview
1. World textile and apparel market – 1.5. Textile dyeing
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Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
Part II. Industry overview
1. World textile and apparel market – 1.6. Apparel
Source: VIRAC, Marketline
48
USD billion
Scale of global textile production 2014-2018e
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Part II. Industry overview
1. World textile and apparel market – 1.6. Apparel
Global textile and apparel trade is heavily influenced by major
economies such as Europe and the United States.
Source: VIRAC, UN Comtrade
49
USD billion
Global textile and apparel import and export value, 2010 – 2023e
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Part II. Industry overview
1. World textile and apparel market – 1.6. Apparel
Source: VIRAC, WTO Secreteriat
50
Source: VIRAC, WTO Secreteriat
USD billion
USD billion
World's top 10 largest apparel exporting countries, 2016
World's top 10 largest apparel importing countries, 2016
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1. World textile and apparel market – 1.6. Apparel
Source: VIRAC, Marketline
51
Source: VIRAC, Marketline
USD billion
Export structure of textile and apparel worldwide 2016e
Global apparel trade value 2003-2018F
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There is a huge gap in annual spending on apparel per capita between
developing and developed countries.
52
Part II. Industry overview
1. World textile and apparel market – 1.5. Apparel
USD billion
USD/year
Source: VIRAC, Euromonitor
Scale of global apparel market 2015-2025f
Spending on apparel per capita 2014-2019F
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1. World textile and apparel market – 1.6 Apparel
53
• Currently, the textile and apparel industry is gradually improving, but there
are still big gap among countries.
Source: VIRAC, Jobstreet
Source: VIRAC, Jobsteet
USD/month
USD/month
Average wage of textile and apparel industry in some countries, 2016
Average wage in some countries, 2016
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Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
Part II. Industry overview
1. World textile and apparel market – 1.7. Distribution and export system
Export and marketing
Commercialization
Source: VIRAC, Marketline
55
USD billion
The value of global apparel retail industry 2014-2019eContent is intentionally removed for demo purpose
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Part II. Industry overview
1. World textile and apparel market
1.1. Industry size
1.2. Value chain of global textile and apparel market
1.3. Input materials
1.4. Spinning
1.5. Textile dyeing
1.6. Apparel
1.7. Distribution and export system
1.8. Machinery of textile apparel industry
Part II. Industry overview
1. World textile and apparel market – 1.8. Machinery of textile apparel industry
Source: VIRAC, ITC
57
Source: VIRAC, ITC
USD thousandUSD thousand
World's top largest textile machinery importing countries, 2016e World's top largest textile machinery exporting countries, 2016e
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Part II. Industry overview
1. World textile and apparel market – 1.8. Machinery of textile apparel industry
Country Manufacturer
Some of the largest textile manufacturers in the world
58
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Part II. Industry overview
2. Vietnam textile and apparel industry
2.1. Industry overview
2.2. Input materials
2.3. Spinning
2.4. Textile dyeing
2.5. Apparel
2.6. Distribution and export system
59
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.1. Industry overview
Indicator Value
INDUSTRY OVERVIEW
60
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Number of enterprises of Vietnam textile and apparel industry, 2012 - 2016
61
Sectors 2012 2013 2014 2015 2016
Sources: VIRAC, GSO
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.1. Industry overview
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Part II. Industry overview
2. Vietnam textile and apparel industry – 2.1. Industry overview
The South East region is home for the largest number of textile and
apparel enterprises in the country with three major cities: Ho Chi
Minh City, Binh Duong and Dong Nai.
Source: VIRAC, MOIT
62
Textile and apparel enterprises distributed by region, 2016
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At present, Vietnam has 8,149 private enterprises in the textile and apparel
industry, mainly located in the South East,
Sources: VIRAC, GSO
63
Sources: VIRAC, Enterprise Survey 2014
Textile and apparel private enterprises distributed by region, 2016
The proportion of turnover of types of apparel enterprises, 2014
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.1. Industry overview
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Sources: VIRAC, GSO
Sectors 2012 2013 2014 2015 2016
Proportion of textile
and apparel sectors in
2016
Numbers of laborers in Vietnam textile and apparel industry, 2012 - 2016
64
Textile and apparel is currently the most labor-intensive industry. The labor force of the textile and apparel industry accounts for more than 20% of the
labor force in the industrial sector and nearly 5% of the total labor force.
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.1. Industry overview
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• Textile and apparel industry responds to industrial revolution 4.0 :
65
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.1. Industry overview
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The import-export balance of Vietnam's textile and apparel commodity,
2013 - 2017
66
No. Type 2013
(Million USD)
2014
(Million USD)
2015
(Million USD)
2016
(Million USD)
2017
(Million USD)
2017
compared to
2016 (%)
Sources: VIRAC, VITAS
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.1. Industry overview
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Part II. Industry overview
2. Vietnam textile and apparel industry
2.1. Industry overview
2.2. Input materials
2.3. Spinning
2.4. Textile dyeing
2.5. Apparel
2.6. Distribution and export system
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.2. Input materials
68
Source: VIRAC, Vietrade, Cotton, inc
Thousand tons
Thousand hectares
Cotton planting area in some major regions
Source: VIRAC, MARD, GSO
Thousand hectares
Tình hình sản xuất bông của Việt Nam, 2013/2014 -
2016/2017e
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2. Vietnam textile and apparel industry – 2.2. Input materials
69
Region Features
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Method of cultivation and cotton growing regions of Vietnam
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.2. Input materials
Source: VIRAC, Vietrade, Cotton, inc
70
Million tons
Cotton consumption value in Vietnam, 2010/2011 -
2016/2017e
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• The area of cotton plantation in the Northwest and the South West has
fallen sharply since the 2014/2015 season as farmers move to more
productive crops.
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.2. Input materials
71
Source: VIRAC, GDVC
USD/kgCotton import price, 10/2016 – 10/2017
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Part II. Industry overview
2. Vietnam textile and apparel industry – 2.2. Input materials
Source: VIRAC, GDVC
72
USD millionThousand tons
Source: VIRAC, GDVC
Cotton imports in Vietnam, 2013 - 2017e
Import market structure of cotton in Vietnam, 2017e
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• Vietnam imports cotton mainly from the US, India, Australia, Brazil,
Ivory Coast ... in which America is the main market,
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.2. Input materials
73
• Import and export of some other raw materials:
Source: VIRAC, GDVC
USD million
Source: VIRAC, GDVC Source: VIRAC, GDVC
Import-export turnover of textile, leather and foot-wear
materials and auxiliaries, 2013 - 2017e
Import market structure of textile, leather and foot-wear
materials and auxiliaries, 2017eExport market structure of textile, leather and foot-wear
materials and auxiliaries, 2017e
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Part II. Industry overview
2. Vietnam textile and apparel industry
2.1. Industry overview
2.2. Input materials
2.3. Spinning
2.4. Textile dyeing
2.5. Apparel
2.6. Distribution and export system
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.3. Spinning
Source: VIRAC, GSO
75
Source: VIRAC, GSO
Thousand tons
Thousand tonsVND billion
Yarn production volume, 2010 - 2017e
Yarn volume and consumption value, 2010 - 2017e
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2. Vietnam textile and apparel industry – 2.3. Spinning
Source: VIRAC, GDVC
76
USD million
Yarn import and export in Vietnam, 2010 - 2017e
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Part II. Industry overview
2. Vietnam textile and apparel industry – 2.3. Spinning
Source: VIRAC, GDVC
77
• In 2017, China is the main yarn export market of Vietnam,
Source: VIRAC, GDVC
Export structure of yarn by volume, 2017e
Import structure of yarn by volume, 2017e
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2. Vietnam textile and apparel industry – 2.3. Spinning
Company name Capacity Product segment
Source: VIRAC, VITAS
78
Source: VIRAC, VITAS
Number of yarn piles and rotors in Vietnam yarn industry, 2010 – 2017e
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Long fiber producing enterprises in Vietnam
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.3. Spinning
79
Time Company name Country Investment Value (USD million) Location
Some fiber projects in Vietnam in the period 2014 - 2016
Source: VIRAC
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Part II. Industry overview
2. Vietnam textile and apparel industry
2.1. Industry overview
2.2. Input materials
2.3. Spinning
2.4. Textile dyeing
2.5. Apparel
2.6. Distribution and export system
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.4. Textile dyeing
Vietnam's fabric production only meets 15-16% of demand.
Source: VIRAC, GSO
81
Source: VIRAC, GSO
Source: VIRAC, GSO
Million m²
VND trillion
Fabric production volume in Vietnam, 2010 - 2017e
Fabric consumption value, 2012 - 2017e
Production structure of Vietnamese fabrics, 2012 - 2017e
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2. Vietnam textile and apparel industry – 2.4. Textile dyeing
Source: VIRAC, GDVC
82
Source: VIRAC, GDVC
USD million
Fabric export-import turnover of Vietnam, 2011 - 2017e Vietnam's fabric import market structure, 2017e
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2. Vietnam textile and apparel industry – 2.4. Textile dyeing
Textile dyeing and finishing process
83
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2. Vietnam textile and apparel industry – 2.4. Textile dyeing
General assessment of textile machinery and technology in Vietnam
General assessment of dyeing technology in Vietnam
Material and power Unit Vietnam Germany Finland
Source: VIRAC
77
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Part II. Industry overview
2. Vietnam textile and apparel industry – 2.4. Textile dyeing
Causes leading to the nondevelopment of Vietnam textile dyeing industry:
85
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Part II. Industry overview
2. Vietnam textile and apparel industry
2.1. Industry overview
2.2. Input materials
2.3. Spinning
2.4. Textile dyeing
2.5. Apparel
2.6. Distribution and export system
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.5. Apparel
Garment production volume is increasing but mostly for export.
Source: VIRAC, GSO
87
Million units
Apparel production volume, 2012 - 2017e
Market share of domestic apparel market, 2016e
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Part II. Industry overview
2. Vietnam textile and apparel industry – 2.5. Apparel
• In general, the domestic apparel market is still rather modest due
to people's low living standards.
88
USD million
Source: VIRAC, GDVC
Source: VIRAC, VITAS
Apparel exports (including fabric) of Vietnam, 2010 - 2017e
Structure of apparel for export, 6M/2017eContent is intentionally removed for demo purpose
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.5. Apparel
• The United States, the EU, Japan, Korea are the four largest
importers of textiles and garments in Vietnam.
89
Source: VIRAC, GDVC
Source: VIRAC, GDVC
USD billion
Export market structure of textiles and apparel in Vietnam,
2017e
Export value of textiles and apparel to some countries, 2013
- 2017e
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Part II. Industry overview
2. Vietnam textile and apparel industry – 2.5. Apparel
90
Source: VIRAC, GDVC
USD billion
Textile and apparel exports of FDI enterprises and domestic
enterprises, 2017e
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Part II. Industry overview
2. Vietnam textile and apparel industry – 2.5. Apparel
91
Countries US EU Japan
China
India
Vietnam
Source: VIRAC, GSO
Source: VIRAC
Average time of order production in some countries (day)Average time of order production in Vietnam (day)
Inventory index of textile and apparel industry, 8/2016 -
12/2017
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Part II. Industry overview
2. Vietnam textile and apparel industry
2.1. Industry overview
2.2. Input materials
2.3. Spinning
2.4. Textile dyeing
2.5. Apparel
2.6. Distribution and export system
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.6. Distribution and export system
Export, distribution and marketing activities
Domestic textile and apparel enterprises do not have a large distribution system to the consumers, especially in the international market.
In the domestic market, the distribution system is still very limited and the distribution channel development strategy is still problematic.
93
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Method of export of textiles and apparel
94
Payment methods
Part II. Industry overview
2. Vietnam textile and apparel industry – 2.6. Distribution and export system
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TABLE OF CONTENTS
Part III. Industry outlook and risk
1. Industry risk
1.1. Five Forces analysis
1.2. SWOT analysis
1.3. Risks
95
96
In general, competition in the textile and apparel industry in Vietnam
is high.
Factors Opinions Assessment
Sources: VIRAC collects
Competition level of textile and apparel industry in Vietnam
Part III. Industry outlook and risk
1. Industry risk – 1.1. Five Forces analysis
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97
Factors Opinions Assessment
Factors Opinions Assessment
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Part III. Industry outlook and risk
1. Industry risk – 1.1. Five Forces analysis
98
Factors Opinions Assessment
Factors Opinions Assessment
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Part III. Industry outlook and risk
1. Industry risk – 1.1. Five Forces analysis
TABLE OF CONTENTS
99
Part III. Industry outlook and risk
1. Industry risk
1.1. Five Forces analysis
1.2. SWOT analysis
1.3. Risks
Strengths Weaknesses
Opportunities Threats
100
Part III. Industry outlook and risk
1. Industry risk – 1.2. SWOT analysis
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MỤC LỤC
101
Part III. Industry outlook and risk
1. Industry risk
1.1. Five Forces analysis
1.2. SWOT analysis
1.3. Risks
Part III. Industry outlook and risk
1. Industry risk – 1.3. Risks
Risk of economic integration
Legal framework risk
Competitive risk
93
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Part III. Industry outlook and risk
1. Industry risk – 1.3. Risks
Risk of input materials
Labor risk
Economic risk
94
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Part III. Industry outlook and risk
2. Industry outlook
2.1. Industry planning
2.2. Forecast and assessment of industry outlook
104
TABLE OF CONTENTS
Part III. Industry outlook and risk
2. Industry outlook – 2.1. Industry planning
105
On April 11, 2014, the Ministry of Industry and Trade issued Decision No. 3128/QD-BCT approving the master plan for the development of Vietnam's
textile and apparel industry to 2020 with a vision to 2030..
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Part III. Industry outlook and risk
2. Industry outlook – 2.1. Industry planning
Indicator Unit 2015 2020 2030
106
Specific targets of the textile and apparel industry to 2030
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MỤC LỤC
107
Part III. Industry outlook and risk
2. Industry outlook
2.1. Industry planning
2.2. Forecast and assessment of industry outlook
Part III. Industry outlook and risk
2. Industry outlook – 2.2. Forecast and assessment of industry outlook
Source: VIRAC, VINATEX
108
USD billionForecast for textile and garment export turnover, 2016 - 2020f
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Part III. Industry outlook and risk
2. Industry outlook – 2.2. Forecast and assessment of industry outlook
109
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TABLE OF CONTENTS
Part IV. Enterprise analysis
1. Garment enterprise analysis
2. Textile and fiber enterprise analysis
110
Part IV. Enterprise analysis
1. Garment enterprise analysis
Top 8 enterprises in Vietnam apparel industry with the largest net revenue in 2016
Enterprise AddressNet revenue
(VND billion)
Total assets
(VND billion)
Viet Tien Garment Corporation
Hoa Tho Textile Garment JSC
Nha Be Garment Corporation JSC
Garment Corporation 10
Duc Giang Corporation
TNG Investment and Trade JSC
Sai Gon Garment Manufacturing Trade JSC
Dong Nai Garment Corporation
111
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Part IV. Enterprise analysis
1. Garment enterprise analysis
112
VIET TIEN GARMENT CORPORATION
Production capacity of Viet Tien Corporation
Source: VIRAC, Viet Tien Garment Company
Export market structure of Viet Tien, 2015
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Part IV. Enterprise analysis
1. Garment enterprise analysis
113
Production capacity of Hoa Tho Textile and Garment Corporation
HOA THO GARMENT CORPORATION
Source: VIRAC, Hoa Tho Textile and Garment JSC
Source: VIRAC, Hoa Tho Textile and Garment JSC
Textile export market structure of Hoa Tho, 2015
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Part IV. Enterprise analysis
1. Garment enterprise analysis
114
NHA BE GARMENT CORPORATION JSC
Structure of textile export market of Nhà Bè, 2014
Source: VIRAC, Nha Be Garment JSC
Source: VIRAC, Nha Be Garment JSC
USD million
Production capacity of Nha Be Garment JSC
Export turnover of Nha Be, 2009-2015
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Part IV. Enterprise analysis
1. Garment enterprise analysis
115
GARMENT CORPORATION 10
Production capacity of Garment Corporation 10
Source: VIRAC, Garment Corporation 10
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Part IV. Enterprise analysis
1. Garment enterprise analysis
116
Production capacity of Duc Giang Corporation
Duc Giang Corporation
Source: VIRAC, Duc Giang Garment Corporation
Structure of textile export market of Duc Giang, 2015
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Part IV. Enterprise analysis
1. Garment enterprise analysis
117
Production capacity of TNG
THAI NGUYEN INVESTMENT AND TRADING JOINT STOCK COMPANY
Source: VIRAC, TNG
Structure of textile export market of TNG, 2015Content is intentionally removed for demo purpose
Part IV. Enterprise analysis
1. Garment enterprise analysis
118
SAI GON GARMENT MANUFACTURING TRADING JOINT STOCK COMPANY
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Part IV. Enterprise analysis
1. Garment enterprise analysis
119
Dong Nai Garment Corporation
Source: VIRAC, Dong Nai Garment JSC
Structure of textile export market of Dong Nai Garment,
2014
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Part IV. Enterprise analysis
1. Garment enterprise analysis
120
Source: VIRAC
VND billion
Net revenue, 2015 - 2016
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Part IV. Enterprise analysis
1. Garment enterprise analysis
121
Source: VIRAC
VND billion
VND billion
Gross profit margin, 2015 - 2016
Net profit and net profit margin, 2015 - 2016
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Part IV. Enterprise analysis
1. Garment enterprise analysis
Financial expenses of businesses tended to decrease in 2016.
122
Source: VIRAC
VND billion
Financial expenses and financial expenses/net revenue ratio, 2015 -
2016
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Part IV. Enterprise analysis
1. Garment enterprise analysis
123
Source: VIRAC
VND billionDebt/Equity ratio, 2015- 2016
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Part IV. Enterprise analysis
1. Garment enterprise analysis
124
Source: VIRAC
Source: VIRAC
%
Solvency ratio, 2015 - 2016
Profit Ratio, 2015 - 2016
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TABLE OF CONTENTS
125
Part IV. Enterprise analysis
1. Garment enterprise analysis
2. Textile and fiber enterprise analysis
Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
Vietnam's top 5 textile and yarn enterprises with the largest net revenue, 2016 (VND billion)
Enterprise AddressNet revenue
(VND billion)
Total assets
(VND billion)
Thanh Cong Textile Garment Investment Trading JSC
Phong Phu Corporation
Viet Thang Corporation
Hue Textile Garment JSC
Century Synthetic Fiber Corporation
126
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
127
Product Volume
Thanh Cong Textile Garment Investment Trading JSC
Yarn quality of Thanh Cong Textile Garment Investment Trading JSC
Source: VIRAC, TCG
Structure of textile export market of TCG, 2014
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
128
Product Production capacity Machinery, input materials
Production capacity of Thanh Cong Textile Garment Investment Trading JSC
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
129
Production capacity of Phong Phu Corporation
Phong Phu Corporation
Source: VIRAC, Phong Phu Corp
Structure of textile export market of Phong Phú 2014
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
130
Product Description
Viet Thang Corporation
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
131
Hue Textile Garment JSC
Production capacity of Hue Textile Garment JSC
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
132
Century Synthetic Fiber Corporation
Source: VIRAC, Centery Fiber Source: VIRAC, Century Fiber
Ton
TonFiber consumption structure of Century Synthetic Fiber
Corporation, 2010-2015
Fiber production of Century Fiber, 2008-2015
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
133
Source: VIRAC
VND billionNet revenue of textile and fiber enterprises, 2015 - 2016
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
134
Source: VIRAC
Source: VIRAC
VND billion
VND billion
Gross profit of textile and fiber enterprises, 2015 - 2016
Net profit of textile and fiber enterprises, 2015 - 2016
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
135
Source: VIRAC
VND billion Financial expenses, 2016
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
136
Source: VIRAC
Source: VIRAC
Round
Day
Total asset turnover, 2015 - 2016
Days in inventory, 2015 - 2016
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Part IV. Enterprise analysis
2. Textile and fiber enterprise analysis
Some financial indicators in 2016
137
Source: VIRAC
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
133
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements - Viet Tien Garment Corporation
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
134
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements - Hoa Tho Textile Garment JSC
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
135
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
Revenue from Sales and services provided
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Nha Be Garment Corporation
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
136
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Garment Corporation 10 - JSC
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
137
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
Revenue from Sales and services provided
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Duc Giang Corporation
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
138
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements - TNG Investment and Trade JSC
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
139
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Sai Gon Garment Manufacturing Trading Corporation
Content is intentionally removed for demo purpose
BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
140
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Dong Nai Garment Corporation
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
141
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Phong Phu Corporation
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
142
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Viet Thang Corporation
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
143
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Thanh Cong Textile Garment Investment Trading JSC
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
144
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Century Synthetic Fiber Corporation
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BALANCE SHEET
Unit: VND million 2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Short-term Liabilities
1. Short-term Borrowings and Liabilities
2. Taxes and other payables to the State budget
II. Long-term liabilities
1. Long-term borrowings and liabilities
2. Long-term provisions for payables
B. OWNER'S EQUITY
I. Owner's equity
II. Other funding sources
TOTAL LIABILITIES AND OWNER'S EQUITY
145
INCOME STATEMENT
Unit: VND million 2015 2016
Net Revenue from Sales and services provided
Cost of goods sold and services provided
Gross Profit from sales and services provided
Financing income
Financial expenses
Interest expenses
Sales expenses
Administrative expenses
Net profit from operating activities
Total Accounting Profit Before Tax
Current Corporate Income Tax Expenses
Deferred Corporate Income Tax Expenses
Profit After Enterprise Income Tax
Revenue from Sales and services provided
CASH FLOW STATEMENT
Unit: VND million 2015 2016
I. Cash Flow From Operating activities
Depreciation of fixed assets
Unrealized gain/loss from exchange rate differences
Net Cash Flow From Operating activities
II. Cash Flow From Investing activities
Expenditures on purchase and construction of fixed assets
and long-term assets
Net Cash Flow From Investing activities
III. Cash Flow From Financial activities
Net Cash Flow From Financial activities
Effect of exchange rate fluctuations
Net cash flow during the fiscal year
VIII. Appendix
Financial statements – Hue Textile Garment JSC
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REPORT DISCLAIMER
154
Report disclaimer
This document has been prepared in good faith on the basis of information available at the date of publication without any independent verification. VIRAC has
produced this report for private circulation to professional clients only. All information and statistical data herein have been obtained from sources we believe to
be reliable and made to ensure the accuracy of the contents of the pages of the report at the time of preparation. Such information has not been independently
verified and VIRAC makes no representation or warranty, whether express or implied, of any kind with respect to the document and its contents, information and
materials. The content found in this report is proprietary to VIRAC and is provided solely for your personal and non-commercial use. You agree that you will not
use this report for any purpose that is unlawful and that you will not reproduce the report or redistribute it outside your organization, or place it on a website for
public access without the express written permission of VIRAC.
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