VIETNAM TEXTILE AND APPAREL INDUSTRY REPORT …viracresearch.com/wp-content/uploads/2018/05/En_-Vietnam-Textile... · SWOT analysis 99 IV. ... • Textile and apparel industry is

VIETNAM TEXTILE AND APPAREL INDUSTRY REPORT Q1/2018

1

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

Content is intentionally removed for demo purpose

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


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


Gross domestic product in 2017 is estimated to increase by 6.81% over 2016,



FDI in 2017 had a strong growth

9

Sources: VIRAC, FIA

FDI capital, 2015-2017Billion USD

FDI attraction by sector, 2017

Sources: VIRAC, FIA




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






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




12

Source: VIRAC, SBV

VND/USD exchange rate, 2013-2017


In 2017, the VND / USD exchange rate was quite stable around VND 22,400


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




• 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


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



15


TABLE OF CONTENTS

16



2. Legal framework

3. Trade agreements



2. Legal framework

Group of regulations and standards on textile and apparel production:

17


18

Group of policies and regulations affecting the industry


2. Legal framework


• 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


2. Legal framework



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



2. Legal framework

3. Trade agreements



3. Trade agreements

22



3. Trade agreements

23

Vietnam – South Korea Free Trade Agreement



3. Trade agreements

24

Vietnam – EU Free Trade Agreement


25

Comprehensive and Progressive Agreement for Trans-Pacific Partnership


3. Trade agreements



3. Trade agreements

26

Regional Comprehensive Economic Partnership (RCEP)


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


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


TABLE OF CONTENTS

29



1.1. Industry size



1.4. Spinning

1.5. Textile dyeing

1.6. Apparel




1. World textile and apparel market – 1.2. Value chain of global textile and apparel market

30


Value chain of global textile and apparel industry is divided into 5 basic stages

31






CMT OEM/FOB

ODM

OBM

32


TABLE OF CONTENTS

33



1.1. Industry size



1.4. Spinning

1.5. Textile dyeing

1.6. Apparel




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




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




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




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




38

Bangladesh

Turkey

India

The United States

China




39

Thousand tons Thousand tons

Source: VIRAC, USDASource: VIRAC, USDA

World cotton exports, 2012/13 - 2017/18e World cotton imports, 2012/13 - 2017/18e


TABLE OF CONTENTS

40



1.1. Industry size



1.4. Spinning

1.5. Textile dyeing

1.6. Apparel




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



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



1.1. Industry size



1.4. Spinning

1.5. Textile dyeing

1.6. Apparel




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




45


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




TABLE OF CONTENTS

47



1.1. Industry size



1.4. Spinning

1.5. Textile dyeing

1.6. Apparel




1. World textile and apparel market – 1.6. Apparel

Source: VIRAC, Marketline

48

USD billion

Scale of global textile production 2014-2018e




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




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





51


USD billion

Export structure of textile and apparel worldwide 2016e

Global apparel trade value 2003-2018F


There is a huge gap in annual spending on apparel per capita between

developing and developed countries.

52



USD billion

USD/year

Source: VIRAC, Euromonitor

Scale of global apparel market 2015-2025f

Spending on apparel per capita 2014-2019F



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


TABLE OF CONTENTS

54



1.1. Industry size



1.4. Spinning

1.5. Textile dyeing

1.6. Apparel




1. World textile and apparel market – 1.7. Distribution and export system

Export and marketing

Commercialization


55

USD billion

The value of global apparel retail industry 2014-2019eContent is intentionally removed for demo purpose

TABLE OF CONTENTS

56



1.1. Industry size



1.4. Spinning

1.5. Textile dyeing

1.6. Apparel




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



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


TABLE OF CONTENTS


2. Vietnam textile and apparel industry

2.1. Industry overview


2.3. Spinning

2.4. Textile dyeing

2.5. Apparel


59


2. Vietnam textile and apparel industry – 2.1. Industry overview

Indicator Value

INDUSTRY OVERVIEW

60


Number of enterprises of Vietnam textile and apparel industry, 2012 - 2016

61

Sectors 2012 2013 2014 2015 2016

Sources: VIRAC, GSO






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


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




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.




• Textile and apparel industry responds to industrial revolution 4.0 :

65




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




TABLE OF CONTENTS

67





2.3. Spinning

2.4. Textile dyeing

2.5. Apparel



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




69

Region Features


Method of cultivation and cotton growing regions of Vietnam



Source: VIRAC, Vietrade, Cotton, inc

70

Million tons

Cotton consumption value in Vietnam, 2010/2011 -

2016/2017e


• 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.



71

Source: VIRAC, GDVC

USD/kgCotton import price, 10/2016 – 10/2017




Source: VIRAC, GDVC

72

USD millionThousand tons

Source: VIRAC, GDVC

Cotton imports in Vietnam, 2013 - 2017e

Import market structure of cotton in Vietnam, 2017e


• Vietnam imports cotton mainly from the US, India, Australia, Brazil,

Ivory Coast ... in which America is the main market,



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


TABLE OF CONTENTS

74





2.3. Spinning

2.4. Textile dyeing

2.5. Apparel



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




Source: VIRAC, GDVC

76

USD million

Yarn import and export in Vietnam, 2010 - 2017e




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




Company name Capacity Product segment

Source: VIRAC, VITAS

78


Number of yarn piles and rotors in Vietnam yarn industry, 2010 – 2017e


Long fiber producing enterprises in Vietnam



79

Time Company name Country Investment Value (USD million) Location

Some fiber projects in Vietnam in the period 2014 - 2016

Source: VIRAC


TABLE OF CONTENTS

80





2.3. Spinning

2.4. Textile dyeing

2.5. Apparel



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




Source: VIRAC, GDVC

82

Source: VIRAC, GDVC

USD million

Fabric export-import turnover of Vietnam, 2011 - 2017e Vietnam's fabric import market structure, 2017e




Textile dyeing and finishing process

83




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




Causes leading to the nondevelopment of Vietnam textile dyeing industry:

85


TABLE OF CONTENTS

86





2.3. Spinning

2.4. Textile dyeing

2.5. Apparel



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




• In general, the domestic apparel market is still rather modest due

to people's low living standards.

88

USD million

Source: VIRAC, GDVC


Apparel exports (including fabric) of Vietnam, 2010 - 2017e

Structure of apparel for export, 6M/2017eContent is intentionally removed for demo purpose



• 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




90

Source: VIRAC, GDVC

USD billion

Textile and apparel exports of FDI enterprises and domestic

enterprises, 2017e




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


TABLE OF CONTENTS

92





2.3. Spinning

2.4. Textile dyeing

2.5. Apparel



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


Method of export of textiles and apparel

94

Payment methods


2. Vietnam textile and apparel industry – 2.6. Distribution and export system


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


1. Industry risk – 1.1. Five Forces analysis


97






98






TABLE OF CONTENTS

99


1. Industry risk


1.2. SWOT analysis

1.3. Risks

Strengths Weaknesses

Opportunities Threats

100


1. Industry risk – 1.2. SWOT analysis


MỤC LỤC

101


1. Industry risk


1.2. SWOT analysis

1.3. Risks


1. Industry risk – 1.3. Risks

Risk of economic integration

Legal framework risk

Competitive risk

93



1. Industry risk – 1.3. Risks

Risk of input materials

Labor risk

Economic risk

94



2. Industry outlook

2.1. Industry planning

2.2. Forecast and assessment of industry outlook

104

TABLE OF CONTENTS


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..



2. Industry outlook – 2.1. Industry planning

Indicator Unit 2015 2020 2030

106

Specific targets of the textile and apparel industry to 2030


MỤC LỤC

107


2. Industry outlook

2.1. Industry planning

2.2. Forecast and assessment of industry outlook


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



2. Industry outlook – 2.2. Forecast and assessment of industry outlook

109


TABLE OF CONTENTS

Part IV. Enterprise analysis

1. Garment enterprise analysis

2. Textile and fiber enterprise analysis

110



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




112

VIET TIEN GARMENT CORPORATION

Production capacity of Viet Tien Corporation

Source: VIRAC, Viet Tien Garment Company

Export market structure of Viet Tien, 2015




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




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




115

GARMENT CORPORATION 10

Production capacity of Garment Corporation 10

Source: VIRAC, Garment Corporation 10




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




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



118

SAI GON GARMENT MANUFACTURING TRADING JOINT STOCK COMPANY




119

Dong Nai Garment Corporation

Source: VIRAC, Dong Nai Garment JSC

Structure of textile export market of Dong Nai Garment,

2014




120

Source: VIRAC

VND billion

Net revenue, 2015 - 2016




121

Source: VIRAC

VND billion

VND billion

Gross profit margin, 2015 - 2016

Net profit and net profit margin, 2015 - 2016




Financial expenses of businesses tended to decrease in 2016.

122

Source: VIRAC

VND billion

Financial expenses and financial expenses/net revenue ratio, 2015 -

2016




123

Source: VIRAC

VND billionDebt/Equity ratio, 2015- 2016




124

Source: VIRAC

Source: VIRAC

%

Solvency ratio, 2015 - 2016

Profit Ratio, 2015 - 2016


TABLE OF CONTENTS

125






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




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




128

Product Production capacity Machinery, input materials

Production capacity of Thanh Cong Textile Garment Investment Trading JSC




129

Production capacity of Phong Phu Corporation

Phong Phu Corporation

Source: VIRAC, Phong Phu Corp

Structure of textile export market of Phong Phú 2014




130

Product Description

Viet Thang Corporation




131

Hue Textile Garment JSC

Production capacity of Hue Textile Garment JSC




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




133

Source: VIRAC

VND billionNet revenue of textile and fiber enterprises, 2015 - 2016




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




135

Source: VIRAC

VND billion Financial expenses, 2016




136

Source: VIRAC

Source: VIRAC

Round

Day

Total asset turnover, 2015 - 2016

Days in inventory, 2015 - 2016




Some financial indicators in 2016

137

Source: VIRAC


TABLE OF CONTENTS

Part V: Conclusion

138

Part V: Conclusion

139


TABLE OF CONTENTS

Appendix

140

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


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


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


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



134

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements - Hoa Tho Textile Garment JSC


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



135

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







Revenue from Sales and services provided

CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Nha Be Garment Corporation


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



136

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Garment Corporation 10 - JSC


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



137

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses








CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Duc Giang Corporation


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



138

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements - TNG Investment and Trade JSC


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



139

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Sai Gon Garment Manufacturing Trading Corporation


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



140

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Dong Nai Garment Corporation


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



141

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Phong Phu Corporation


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



142

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Viet Thang Corporation


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



143

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Thanh Cong Textile Garment Investment Trading JSC


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



144

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses







CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Century Synthetic Fiber Corporation


BALANCE SHEET


A. CURRENT ASSETS





IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES







B. OWNER'S EQUITY

I. Owner's equity



145

INCOME STATEMENT





Financing income

Financial expenses

Interest expenses

Sales expenses








CASH FLOW STATEMENT














VIII. Appendix

Financial statements – Hue Textile Garment JSC


REPORT DISCLAIMER

154

Report disclaimer

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produced this report for private circulation to professional clients only. All information and statistical data herein have been obtained from sources we believe to

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