Lexim Company Limited (Vietnam)

Founded in 2001 in Ha Noi City, the subject currently focuses on two main business fields, including trading trucks; and trading and leasing construction machines and equipment. The company is a 3S dealer of Hino Motor Vietnam, a distributor of the brands ZOOMLION (China) and SOOSAN (South Korea).In our interview, the chief accountant shared that the subject's business situation this year slowed down mainly due to the decrease in the field of trading trucks, which is impacted by the global economic recession, leading to difficulties in the logistics industry. For this reason, its sales for the fiscal year 2023 decreased by nearly half compared to 2022, expected to reach only more than VND 300 billion. Profit was only one-third last year. The situation has been slightly better in the last months because bankers reduced interest rates, stimulating market demand. Currently, the company is applying an interest rate support program of the HINO brand for the SS2P-E5 tractor truck with customers signing contracts from October to the end of December 2023.