Partron Vina Co., Ltd. (Vietnam)

Being founded in 2008 as a 100% South Korean invested company, the subject specializes in manufacturing electronic components for smartphones including cameras, control boards, sensor assemblies, antennas, motors…, which mainly serve Samsung Electronics and Samsung's vendors. According to Ms. Tran Thi Hong Thu - the chief accountant, production and import-export activities of the subject are mostly based on directions from the parent company, PARTRON CO.,LTD.Please note that because of recording thin gross profit margin and high level of operating expenses, the subject usually reported losses in the past years. Anyway, the transfer pricing policy with the parent company caused partly those losses, as revealed. Thanks to improving gross profit margin in 2021, it gained a big net income that year.Noticeably, Ms. Tran Thi Hong Thu said that due to the post-Covid economic recession, the demand for electronic components of Samsung Electronics was narrowed clearly in the second haft of 2022 so the subject received fewer new orders from clients. Hence, the subject had to cut down production shifts. Meanwhile, its labor force was narrowed from around 5,000 people in 2021 to around 4,000 people currently. As a result, the subject just achieved about VND 2,115 billion of total sales in 2022, down by 20% against the volume in the previous year. And, with that revenue depression, it suffered loss a gain last year, she added.Since late 2022, the new orders from clients have increased gradually. In detail, the subject's revenue in Jan 2023 was clearly higher than the volume in the same period last year, shared by Ms. Tran Thi Hong Thu. Additionally, the subject's second factory at “Lot CN03-03, Dong Soc Industrial Cluster, Tu Trung Town, Vinh Tuong District, Vinh Phuc Province, Vietnam” will be inaugurated and be put into production in the second quarter of 2023. The company is going to recruit 1,000 more workers in the coming time.