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VIETNAM TEXTILE AND GARMENT INDUSTRY COMPREHENSIVE REPORT Q1/2020 1

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Page 1: VIETNAM TEXTILE AND GARMENT INDUSTRY ......4. Risks 80 6. Enterprise analysis 90 4.1. . 5-forces analysis 81 6.6.1. Garment enterprise analysis 91 4.2. SWOT analysis 84 6.6.2. Textile

VIETNAM TEXTILE AND GARMENT INDUSTRY COMPREHENSIVE REPORT Q1/2020

1

Page 2: VIETNAM TEXTILE AND GARMENT INDUSTRY ......4. Risks 80 6. Enterprise analysis 90 4.1. . 5-forces analysis 81 6.6.1. Garment enterprise analysis 91 4.2. SWOT analysis 84 6.6.2. Textile

CONTENT

2

CONTENT PAGE CONTENT PAGE

Abbreviation4

2.5. Dyeing and Weaving 32

Summary 5 2.6. Garment 35

1. Business environment 7 2.7. Distribution and export system 40

1.1 Macroeconomic situation 8 2.8. Textile and garment industry's machines 41

2. Legal framework 12 3. Vietnam's textile and garment industry 43

3. Trade agreements 15 3.1. Industry overview 44

2. Global textile and garment industry 21 3.2. Input materials 51

2.1. Industry scale 22 3.3. Spinning 56

2.2. Global value chain 23 3.4. Dyeing and Weaving 64

2.3. Input materials 26 3.5. Garment 69

2.4. Spinning 31 3.6. Distribution and export system 77

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CONTENT

3

CONTENT PAGE CONTENT PAGE

4. Risks 80 6. Enterprise analysis 90

4.1. . 5-forces analysis 81 6.6.1. Garment enterprise analysis 91

4.2. SWOT analysis 84 6.6.2. Textile and yarn enterprise analysis 100

5. Planning and forecast 85 Appendix 108

5.1. Planning 86

5.2. Forecast 88

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ABBREVIATION

ABBREVIATION

4

Abbreviation Meaning Abbreviation Meaning

CAGR Compound Annual Growth Rate OEM Original Equipment Manufacturer

CMT Cut – Make – Trim PET Polyethylene Terephthalate

CNTAC China National Textile and Apparel Council GOC General office of custom

CPI Consumer price index GSOGeneral Statistics Office

EU European Union UAE United Arab Emirates

GDP Gross domestic product VCOSA Vietnam Cotton and Spinning Association

OBM Original Brand Manufacturer VINATEX Vietnam National Textile and Garment Group

ODM Original Design Manufacturer VITASVietnam Textile and Garment Association

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5

Summary

Trade in knitted and woven fabric (2018)

Textile value (2019)

Textile value (2019)

Inustry scale (2019)

Main export markets for garments (2019)

Size of the garment retail industry (2019)

Textile production value

(2019)

Fiber consumption (2018)

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6

Summary

Import value of textiles (2019)

Import of cotton(2019)

Import of garment, leather and footwear materials (2019)

Export of garment, leather and footwear materials (2019)

Export value of textiles (2019)

Production of fiber and yarn(2019)

Fiber consumption value(2019)

Fiber export(2019)

Imported fibers(2019)

Fabric production(2019)

Fabric import(2019)

Fabric exports(2019)

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7

1. Môi trường kinh doanh

Nội dung

1. BUSINESS ENVIRONMENT

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8

The gross domestic product (GDP) in the last quarter of 2019 is estimated to

increase by x.xx% over the same period last year

Souce: VIRAC, GSO

%

Source: VIRAC, GSO

GDP growth rate by quarter, 2016 - 2019

GDP structure at current prices, 2019

1. Business environment

1.1 Macroeconomic situation

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9

Source: VIRAC, SBV

VND

Source: VIRAC, SBV

VND/USD exchange rate, 1/2013 - 12/2019 VND/CNY exchange rate, 8/2018 - 12/2019

The VND / USD exchange rate in 2019 continued a slight upward trend but remained relatively stable thanks to the SBV's application of flexible managementpolicies through the central exchange rate and intervention in the market by selling USD to stabilizing market sentiment. By the end of December 2019, the centralexchange rate was VND xx,xxx / USD, higher than xx,xxx VND in the same period of 2018 and VND xx,xxx at the end of 2017.

1. Business environment

1.1 Macroeconomic situation

VND

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Source: VIRAC. GSO

10

Source: VIRAC, GDVC

Source: VIRAC, GDVC

Million USD

Million USD

Major import items from China, 12M/2019

Major export items to China, 12M/2019The proportion of export value of textile and apparel industry to the total value of

merchandise exports, 2013 - 2019

Textiles and garments in 2019 reached export value of US $ xx.x billion, up

x.x% over the previous year and accounted for xx.x% of the export value of

goods (US $ xxx billion).

1. Business environment

1.1 Macroeconomic situation

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1. Business environment

1.2. Legal framework

Group of regulations, standards for textile and garment production

TCVN 6054: 1995

TCVN 4737: 1989

TCVN 2109: 1977

QCVN 13-MT: 2015/BTNMT:

Circular 23/2016/TT-BCT

Decision No. 1208/QD-BCT

11

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1. Business environment

1.2. Legal framework

12

Group of other policies, regulations affecting textile and garment industry

• On October 23, 2017, the Ministry of Industry and Trade issued Circular 21/2017/TT-BTC on the national technical regulation on limits of formaldehyde content and

aromatic amines derived from azo dyes in textile products. .

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The 2014 Social Insurance Law stipulates that from January 1, 2018, female employees who pay social insurance for 30 years will be entitled to 75% of the pension.

13

Group of regulations on import and export

1. Business environment

1.2. Legal framework

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Group of tax regulations

• Import Tax

• Enterprise Income Tax

1. Business environment

1.2. Legal framework

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1. Business environment

1.3. Trade agreements

15

The integration process of Vietnam from 1995 until now

As of 2019, Vietnam has signed, enforced, and is negotiating a total of x free trade agreements (FTAs). Joining international trade agreements provides opportunities

and challenges for domestic businesses.

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Important trade agreements on textile industry

1. Business environment

1.3. Trade agreements

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Vietnam - Korea FTA (VKFTA) took effect in 2015, then in 2016, Vietnam's textile and garment export turnover to Korea reached US $ x.x billion, an increase of x.x

compared to 2015.

17

Vietnam – Korea Free Trade Agreements

1. Business environment

1.3. Trade agreements

Regional Comprehensive Economic Partnership Agreement (RCEP)

RCEP is a trade agreement developed by the ASEAN bloc, RCEP encapsulates activities for the economies with which ASEAN has signed a free trade agreement.

However, in the future, the RCEP Agreement may be extended to admit more countries. Currently, the RCEP Agreement has reached the 15th round of

negotiations, likely to be extended through 2018 and ended in mid-2018.

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18

Vietnam's garment and textile export turnover to the EU (including the UK),2018 - 2019

Source: VIRAC, GDVC

The role of EVFTA

The export of Vietnamese textiles to the EU market in recent years hasmade strong strides, but is still not commensurate with the developmentof Vietnam's textile industry and this potential market.

1. Business environment

1.3. Trade agreements

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The effect of CPTPP on textile industry

The CPTPP is of particular significance to the textile and apparel industry as it helps to

reduce tariffs, diversify markets and export products, with the most expected markets

being Canada and Australia.

Challenges of textile and apparel industry when participating in CPTPP

The rules of origin of CPTTP yarns are the biggest bottleneck of the garment industry

as businesses still have to import most of their raw materials and accessories to serve

production and export.

19

Vietnam's garment and textile export turnover to CPTPP countries,

2018 - 2019

Source: VIRAC, GDVC

1. Business environment

1.3. Trade agreements

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1. Business environment

1.4. The impacts of US-China trade war on Vietnam's fiber industry

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2. WORLD MARKET

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2. World market

2.1 Industry scale

• In 2019, revenue of global textile and garment industry was estimated to reach about x,xxx.x million USD.

22

Source: VIRAC, Euromonitor Passport Data 2017

Million USDGlobal textile and garment industry scale, 2012 - 2021f

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2. World market

2.2 Global value chain

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The textile value chain is influenced by the buyer, the creation of the final product goes

through many stages and the production is usually conducted in many countries. In

particular, manufacturers with well-known brands, large retailers and retailers play a key

role in establishing production networks and shaping mass sales through strong brands and

depend on global outsourcing strategies to satisfy this demand.

Global textile and apparel value chain is divided into 5 basic stages:

24

2. World market

2.2 Global value chain

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CMT OEM/FOB

ODM

OBM

25

2. World market

2.2 Global value chain

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2. World market

2.3 Input materials

• Cotton is main input material to produce natural fiber

26

Source: VIRAC, Indexmundi

USD/kgWorld cotton price, 2015 - 12/2019

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27

Source: VIRAC, USDASource: VIRAC, USDA

2. World market

2.3 Input materials

Thousand tonsThousand tons

World cotton production, 2012/2013 - 2018/2019e World cotton consumption, 2012/2013 - 2018/2019e

According to this month's US Department of Agriculture (USDA) report, cotton production and consumption are expected to decrease in the 2018/2019 season.

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2. World market

2.3 Input materials

Source: VIRAC, USDA

Kg/haCotton productivity in some countries, 2015/2016 – 2018/2019e

There are two modes of cotton production in the world nowsaday

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2. World market

2.3 Input materials

29

Cotton prices are determined by factors such as length, grade, color and

micronaire because they directly affect the quality and productivity of yarn

production. With the technology of textile industry is increasingly developing,

the demand for quality of input materials is increasing, other factors such as

bearing strength, elongation, uniformity, dyeing ability and cleanliness, Also be

concerned.

Bangladesh

India

Turkey

America

China

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• According to USDA, in season 2018/2019, world cotton export reached xx.x thousand tons, decreased by x.xx% compared to the last season

30

Source: VIRAC, USDASource: VIRAC, USDA

2. World market

2.3 Input materials

Thousand tons Thousand tons

World cotton export volume, 2012/13 – 2018/2019e World cotton import volume, 2012/13 – 2018/2019e

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Source: VIRAC, Statista

31

Source: VIRAC, The fiber year, FRED

Triệu tấn

2. World market

2.4 Spinning

World fiber production, 1975 – 2030f

Thousand tons

World fiber production and consumption, 2000 - 2018e• In 2018, global yarn consumption is estimated to increase by x.xx% and reach

xxx million tonsThousand tons

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Global yarn and fabric production index Q1/2017 – Q12/2019

• In 2018, the estimated world trade in knitted and woven fabrics is

estimated at about US $ xx billion, an increase of x.x% compared to 2017.

Source: VIRAC, UNcomtrade

32

• According to ITMF, global yarn and fabric production in 2019 shows signs of

increasing again after a period of continuous decline.

Source: VIRAC, ITMF

Tỷ USD

2. World market

2.5 Dyeing and Weaving

World cloth trade, 2010 – 2018e

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33

2. World market

2.5 Dyeing and Weaving

• Textile dyes are used in fabric production because they help optimize and improve manufacturing processes. Different types of textile chemicals include dyeing

chemicals, pretreatment chemicals, printing chemicals, finishing chemicals, antistatic agents and other specialized chemicals. They are very useful in creating

products with advanced functional properties, such as fireproof fabrics, car airbags, greenhouse fabrics with the ability to reflect sunlight, ...

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34

Source: VIRAC, WTO Secreteriat

Source: VIRAC, WTO Secreteriat

According to WTO, estimated value of the world textile industry in 2018 was xxx

billion USD, slightly rose by x.x% compared to that of 2017.

Billion USD

Billion USD

2. World market

2.5 Dyeing and Weaving

Top 10 largest textile exporters in the world, 2018

Top 10 largest textile impoters in the world, 2018

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• Value of global textile and garment industry in 2019 reached about x,xxx.x

million USD, grew by x.xx% compared to the same period in 2018.

Source: VIRAC, Marketline

35

Tỷ USD

2. World market

2.6 Garment

Source: VIRAC, Statista

Scale of global textile and garment production 2016-2021e

Global garment industry profits, 2019-2023e

Billion USD

Billion USD

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Global textile and apparel trade is greatly affected by major economies such as

Europe and the US.

Source: VIRAC, UN Comtrade

36

Billion USD

2. World market

2.6 Garment

Market share of textile and apparel industry by demand, 2019

Source: VIRAC, Grandviewresearch

Global textile and garment export and import value, 2010 - 2023e

Global textile and apparel exports may reach USD x,xxx billion in 2018 and USD x,xxx billion by 2023.

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Source: VIRAC, WTO Secreteriat

37

Source: VIRAC, WTO Secreteriat

• The world's top three countries and regions exporting garments include

China, EU28 and Bangladesh.Billion USD

Tỷ USD

2. World market

2.6 Garment

Top 10 largest textile exporters in the world, 2018

Top 10 largest textile importers in the world, 2018Billion USD

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2. World market

2.6 Garment

Source: VIRAC, Marketline

38

Source: VIRAC, Marketline

Billion USD

Structure of global textile and garment export 2017e

Global apparel trade value 2003-2018F

• In 2018, garment export value is forecast to reach USD xx billion due

to high demand and the world economy is forecast to have better

growth than the previous period.

• Exports are mainly clothing, in 2017 it was estimated to account for xx%,

followed by other textile and apparel accessories such as xx% fabric, xx%

yarn.

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EU, US, China and Japan now are biggest consumers with xx% total textile and

garment value.

39

2. World market

2.6 Garment

Billion USD

USD/year

Source: VIRAC, Euromonitor

Spending per capita on apparel 2014-2019F

Scale of consumption of global apparel market 2015 - 2025f

Source: VIRAC, Statista

There is a big gap between annual per capita expenditure on apparel in

developing countries and developed countries.

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2. World market

2.7 Distribution and export system

Source: VIRAC, Marketline

40

Billion USD

Value of world apparel retail industry 2014-2019e

Export and marketing are also a knowledge-intensive stage, including branded apparel companies, purchasing offices, and trading companies from countries or large

traders. Merchants, suppliers and intermediaries play a key role and hold most of the value in the global apparel chain although they do not own any factory. Hong

Kong, Taiwan, and South Korea hold most of the nodes of this network.

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2. World market

2.8 Textile and garment industry's machines

Source: VIRAC, ITC

41

Source: VIRAC, ITC

Thousand USD Thousand USD

The world's largest textile machinery importers, 2018e The world's largest textile machinery exporters, 2018e

Germany, Japan and China are the three countries with the largest export value of textile machinery in the world in 2018.

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2. World market

2.8 Textile and garment industry's machines

Nation Manufacturer

Some of the world's largest textile machinery manufacturers

42

China now supplies textile machinery and equipment to 80% of the domestic textile machinery market. China is not only a exporter of textile machinery but also a

potential importer of textile machinery, the value of Chinese machine imports in 2019 was more than xxx,xxx thousand USD.

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3. VIETNAM MARKET

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3. Vietnam market

3.1 Industry overview

Indicator Content

Number of enterprises 2018

Export value 2019

Import value 2019

Main export markets 2019

Main import markets 2019

Production method

Industry overview

44

Textile and garment industry is labor intensive compared to other industries and has begun to show signs of labor competition in some key areas and provinces.

Labor in the textile and garment industry accounts for more than xx% of workers in the industrial sector and nearly xx% in the total labor force of the country.

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• Vietnam's textile and garment industry is disproportionately structured with most enterprises concentrating in the garment industry and most small and medium-

sized enterprises (more than xx%).

Vietnam’s number of textile and garment enterprises, 2012 - 2018

45

Source: VIRAC, GSO

3. Vietnam market

3.1 Industry overview

Industry 2012 2013 2014 2015 2016 2017 2018

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3. Vietnam market

3.1 Industry overview

The Southeast is the most textile garment in the country with three major cities: Ho

Chi Minh City, Binh Duong and Dong Nai.

Source: VIRAC, GSO

46

Allocation of textile and garment enterprises by region, 2018

M/2019e

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Nguồn: VIRAC, GSO

47

3. Vietnam market

3.1 Industry overview

Industry 2012 2013 2014 2015 2016 2017 2018The share of labor in

the textile and garment industry2018

Number of labours in Vietnam's textile and garment industry, 2012 - 2018

Textile industry is currently the most labor-intensive industry. Labor in the textile and garment industry accounts for more than xx% of workers in the industrial

sector and nearly x% in the total labor force of the country.

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48

3. Vietnam market

3.1 Industry overview

Salary for employees

The minimum salary for workers in Vietnam's textile and garment industry is

expected to increase in 2020.

Source: VIRAC, NWC

Source: VIRAC, NYU

USD/ month

Minimum monthly salary in Vietnam's textile and garment industry, 2019 - 2020

Minimum salary for textile industry in some countries, 2018

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3. Vietnam market

3.1 Industry overview

• Textile and garment industry responds to industrial revolution 4.0:

49

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50

Source: VIRAC, VITAS

3. Vietnam market

3.1 Industry overview

No Types 2014 (Million USD)

2015(Million USD)

2016(Million USD)

2017(Million USD)

2018 (Million USD)

2019 (Million USD)

Compared to 2018 (%)

1

2

3

4

5

Balance of import and export of Vietnam textiles and garments, 2014 - 2019

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51

Method of cultivation and cotton growing area in Vietnam

3. Vietnam market

3.2 Input materials

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3. Vietnam market

3.2 Input materials

Source: VIRAC, USDA

52

Source: VIRAC, USDA

Thousand package

*Note: 1 package = 218 kg

Thousand package

Supply cotton by output, 2019/2017 - 2018/2019e

Cotton demand according to output 2019/2017 - 2018/2019e

• Due to the growing textile industry, Vietnam's domestic cotton

consumption is forecast to continue to increase

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In the last months of 2017 and early 2018, cotton prices were relatively stable and high.

Import cotton prices in 2018 have many fluctuations.

53

Source: VIRAC, GDCV

3. Vietnam market

3.2 Input materials

Cotton import price, 2015 - 12/2019

Thousand USD/ton

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Source: VIRAC, GDCV

54

Million USD

In 2019, the amount of imported cotton will reach about x,xxx thousand tons,

down x.x% in volume and down xx.x% in value compared to 2018.

Vietnam cotton import, 2013 – 2019

3. Vietnam market

3.2 Input materials

Source: VIRAC, GDCV

Import market structure of cotton by value , 2019

Thousand tons

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55

Source: VIRAC, GDCV

Source: VIRAC, GDCV Source: VIRAC, GDCV

Million USD

3. Vietnam market

3.2 Input materials

Import-export turnover of textile, leather and footwear materials and

accessories, 2014 - 2019

Market structure of imported raw materials, textile materials,leather, shoes, 2019

Market structure for export of raw materials, garment accessories,

footwear, 2019

By the end of 2019, exports and imports of garment, leather and footwear

raw materials increased by x.x% and x.x% respectively in value over the

same period in 2018.

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• In 2019, the country's fiber production output reached x,xxx thousand tons,

an increase of about xx.xx% compared to 2018.

Source: VIRAC, GDVC

56

Thousand tons

Million tons Trillion VND

3. Vietnam market

3.3 Spinning

Source: VIRAC, GDVC

Production output of some types of fiber, yarn, 2019

Source: VIRAC, GDVC

Production of fiber, yarn 2010 - 2019

Output and value of fiber, fiber consumption, 2010 - 2019

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57

3. Vietnam market

3.3 Spinning

The investment capacity of piles splicing project machinery and equipment

Source: VIRAC

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58

3. Vietnam market

3.3 Spinning

Investment capacity for OE project machinery and equipment

Sourc:e: VIRAC

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59

3. Vietnam market

3.3 Spinning

Source: VIRAC

STT Doanhnghiệp DTT LNST Tỷ suất

1

2

3

4

5

6

7

8

9

10

Net profit / revenue ratio of some FDI enterprises in fiber industry in 2018

STT Doanh nghiệp DTT LNST Tỷ suất

1

2

3

4

5

6

7

8

9

10

Source: VIRAC

• Domestic enterprises mainly produce low-index yarns (Ne 20 - Ne 40) and

most of them are carded.

Net profit / revenue ratio of some domestic enterprises in fiber industry in 2018

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Source: VIRAC, GDVC

60

• In 2019, Vietnam's export value of textile fiber is estimated at US $ x,xxx.x million, up x.x% in value and x% in volume compared to 2018.

Million USD

3. Vietnam market

3.3 Spinning

Vietnam fiber, yarn export and import , 2010 - 2019

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61

• China is the main source of Vietnam's textile fiber, accounting for xx% of

the total imported fiber and textile fiber.

Source: VIRAC, GDVC

• In 2019, China is the main export market of Vietnam's textile fibers,

estimated at xxx thousand tons, accounting for x.x% of output and valued

at more than x,xxx million USD.

3. Vietnam market

3.3 Spinning

Source: VIRAC, GDVC

Import structure of textile fiber by volume, 2019

Export structure of textile fiber by volume, 2019

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Tên công ty Công suất Phân khúc

sản phẩm

Thị trường

mục tiêu

• Vietnam's spinning industry in 2018 had about x.x million spindles (accounting for about x.x% of the world's capacity with xxx million spindles),

Source: VIRAC, VITAS

62

Source: VIRAC, VITAS, USDA

Long yarn manufacturing enterprises in Vietnam

3. Vietnam market

3.3 Spinning

Number of spindles, rotor branches of Vietnam yarn industry,2010 - 2018

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63

Time Company Nation Investment Value(Million USD) Place

Source: VIRAC

Some investment projects in Vietnam in the period of 2014 - 2018

3. Vietnam market

3.3 Spinning

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Vietnam's fabric production only meets nearly xx% of demand.

Source: VIRAC, GDVC

64

Source: VIRAC, GDVC

Source: VIRAC, MOIT

Million m²

Thousand billion VND

3. Vietnam market

3.4 Dyeing and Weaving

Fabric consumption value in Vietnam, 2014 - 2019Production structure of Vietnamese fabrics, 2012 – 2019

Yarn production of Vietnam, 2014 - 2019

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• Vietnam's fabric export turnover in 2019 reached US $ x,xxx.xx million, an increase of xx.x% in value compared to 2018.

• Also in 2019, Vietnam's fabric import turnover reached US $ xx,xxx million, an increase of x% in value compared to 2018.

Source: VIRAC, GDCV

65

Million USD

3. Vietnam market

3.4 Dyeing and Weaving

Fabric import and export turnover of Vietnam, 2014 - 2019

Source: VIRAC, GDVC

Structure of Vietnam's fabric import market , 2019

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The process of textile dyeing

66

3. Vietnam market

3.4 Dyeing and Weaving

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General assessment of Vietnamese textile technology and machinery

Nguồn: VIRAC

77

3. Vietnam market

3.4 Dyeing and Weaving

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The cause of dyeing and weaving of Vietnam is not developed:

• Unlike garment cutting, the textile industry is capital intensive, requiring high-tech machinery and processes, especially with dyeing when businesses have to

invest in wastewater treatment technology.

68

3. Vietnam market

3.4 Dyeing and Weaving

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• The textile and apparel industry in 2019 continues to maintain growth

momentum and expand production.

Source: VIRAC, MOIT

69

Million items

3. Vietnam market

3.5 Garment

Market share of domestic garment market, 2019

Source: VIRAC, GSO

Production of clothing, 2014 – 2019• Clothing production in 2019 is estimated to reach x,xxx.x million pieces, an

increase of x.x% compared to 2018.

Product Unit 2019 %yoy2018

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The sales of domestic apparel products in 2019 reached VND xx,xxx billion, an

increase of xx% compared to 2018.

70

3. Vietnam market

3.5 Garment

Billion VND

Source: VIRAC, Euromonitor

Source: VIRAC, Euromonitor Source: VIRAC, Euromonitor

Domestic consumption of apparel products, 2014 - 2019

Market share of garment products by brand, 2019 Market share of garment products by manufacturer, 2019

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71

3. Vietnam market

3.5 Garment

Investment rate of some garment projects, 2013 - 2019Vietnam garment enterprises still mainly carry out processing, but the

difficulty and technique of products as well as delivery speed are

Vietnam's advantages.

Source: VIRAC

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72

3. Vietnam market

3.5 Garment

Source: VIRAC

Information on some Korean garment FDI enterprises in VietnamIt can be said that Korea is one of the biggest FDI investors in Vietnam in the

textile industry.

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• In general, the domestic garment market is quite modest due to the low

living standard of people. In addition, the number of apparel imports has

not been reflected properly due to the large volume of garments imported

to Vietnam via non-quota from China.

73

Source: VIRAC, GDVC

Source: VIRAC, VITAS

Kg

Million USD

3. Vietnam market

3.5 Garment

Export of textiles and garments (including fabric), 2014 - 2019

Volume of garments exported from Vietnam to EAEU, 7M / 2018

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• The United States, Japan and South Korea are the largest textile and

apparel importing countries of Vietnam.

74

Source: VIRAC, GDVC

Source: VIRAC, GDVC

Billion USD

3. Vietnam market

3.5 Garment

Export value of textiles and garments to some countries, 2013 - 2019

Export structure of Vietnam textile and apparel products, 2019

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• The number of FDI enterprises accounts for only about xx% of the number

of Vietnamese textile enterprises but accounts for more than half of

Vietnam's export value.

75

Source: VIRAC, GDVC

Billion USD

3. Vietnam market

3.5 Garment

Export of textiles and garments of FDI enterprises and enterprises domestic, 2010 - 2019

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76

Nước Mỹ EU Nhật Bản

Source: VIRAC, GSO

Source: VIRAC

Time (day) of the average order production in some countriesTime (day) of the average order production of Vietnam

3. Vietnam market

3.5 Garment

The textile inventory index in December 2019 is estimated at xxx.x%, an

increase of xx.x% over the same period in 2018.Inventory index of textile and apparel manufacturing industry,

1/ 2017 – 12/ 2019

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Export, distribution and marketing activities

Although the garment and textile industry contributes more than xx% and Vietnam's export turnover, the added value is still low, only at xx%.

77

3. Vietnam market

3.6 Distribution and export system

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78

3. Vietnam market

3.6 Distribution and export system

Diagram of distribution channel system of the domestic textile market, 2019

Source: VIRAC, Euromonitor

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3. Vietnam market

3.6 Distribution and export system

79

Method of export of textiles and garments

Method of payment:

-

-

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80

4 Rủi ro, động lực và thách thức

4.1 Rủi ro

4.2 Động lực

4.3 Thách thức

Nội dung

4. INDUSTRY RISK

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4. Risks

4.1 5-forces analysis

81

Source: VIRAC synthesized

Factor Consider Rate

Rate of competition in Vietnam textile and garment industry

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4. Risks

4.1 5-forces analysis

82

• Competitiveness of the market

Factor Consider Rate

• Consumers' haggling ability

Factor Consider Rate

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4. Risks

4.1 5-forces analysis

83

Factor Consider Rate

Factor Consider Rate

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Strength Weakness

Opportunity Challenge

84

4. Risks

4.2 SWOT analysis

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85

5 Quy hoạch và dự báo

5.1 Quy hoạch ngành

5.2 Dự báo

Nội dung

5. PLANNING AND FORECAST

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5. Planning and Forecast

5.1 Planning

86

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5. Planning and Forecast

5.1 Planning

Indicator Unit 2015 2020 2030

Export

Main products

87

Table of particular target in Vietnam textile and garment industry to 2030

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5. Planning and Forecast

5.2 Forecast

Source: VIRAC, Marketline

88

World

Source: VIRAC, Marketline

Billion USD

Billion USD

Global textile and garment market price forecast in period of 2015-2022f

Estimates of global apparel and non apparel market value, 2016-2022f

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89

5. Planning and Forecast

5.2 Forecast

Source: VIRAC

Billion USDForecast of export turnover of textiles and garments, 2016 - 2025f

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6. ENTERPRISE ANALYSIS

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6. Enterprise analysis

6.1. Garment enterprise analysis

Top 8 garment companies in Vietnam have the largest net sales in 2018

Company Address Net revenue (dong) Total asset (dong)

91

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92

No. Enterprise Business sector2018 net revenue

(billion dong)Profile

6. Enterprise analysis

6.1. Garment enterprise analysis

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93

No. Enterprise Business sector

2018 net

revenue

(billion

dong)

Profile

4

5

6. Enterprise analysis

6.1. Garment enterprise analysis

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94

No. Enterprise Business sector

2018 net

revenue

(billion

dong)

Profile

6

7

8

6. Enterprise analysis

6.1. Garment enterprise analysis

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6. Enterprise analysis

6.1. Garment enterprise analysis

95

Billion dong

Source: VIRAC

%Net revenue, 2017 - 2018

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6. Enterprise analysis

6.1. Garment enterprise analysis

96

Billion dong

Source: VIRAC

Gross profit margin, 2017 - 2018

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6. Enterprise analysis

6.1. Garment enterprise analysis

97

Billion dong

Source: VIRAC

Financial cost and ratio of financial cosM/net revenue, 2017 - 2018

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6. Enterprise analysis

6.1. Garment enterprise analysis

98

Source: VIRAC

Debt Repayment Capability, 2017 - 2018

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6. Enterprise analysis

6.1. Garment enterprise analysis

99

Source: VIRAC

%

Source: VIRAC

Solvency, 2017 - 2018

Profit ratio, 2017 - 2018

• The current ratio of companies

has increased slightly

compared to 2017, showing

that the debt solvency of

businesses is improving. Quick

ratio of businesses was stable

compared to 2017.

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6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

Top five Vietnamese textile and fiber companies have the largest net sales in 2018(billion VND)

Company AddressNet revenue(billion

VND)

Total asset

(billion VND)

100

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101

No. Enterprise Business sector

2018 net

revenue

(billion

dong)

Profile

6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

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102

No. Enterprise Business sector

2018 net

revenue

(billion

dong)

Profile

6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

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6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

103

Billion VND

Source: VIRAC

Net revenue, 2017 - 2018

• Revenue of textile enterprises in 2018 did not change much compared to 2017.

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6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

104

BillionVND

Source: VIRAC

Gross profit margin, 2017 - 2018

• Thanh Cong's profit-to-sales ratio decreased from x.x% in 2017 to x.x% in 2018,

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6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

105

Source: VIRAC

BillionVND

Financial expense and expenses Financial expenses/Net revenue, 2017 - 2018

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6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

106

Source: VIRAC

Source: VIRAC

Turns

Day

Asset turnover and fixed asset turnover, 2018

Day of inventory, 2018

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6. Enterprise analysis

6.2. Textile and yarn enterprise analysis

107

Source: VIRAC Source: VIRAC

Solvency , 2017 -2018

Profit ratio, 2017 - 2018

The current solvency assessment criteria of enterprises in the group are guaranteed, but the quick solvency of some businesses such as Thanh Cong and Viet Thang is

quite low. The reason is that these enterprises have quite large inventories of inventories.

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108

APPENDIX

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128

VIII. Appendix

Garment 10 Corporation - Joint Stock Company

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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128

VIII. Appendix

The Duc Giang Garment Joint Stock Company

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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VIII. Appendix

Nha Be Garment Joint Stock Company

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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128

VIII. Appendix

Viet Tien Garment Joint Stock Company

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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128

VIII. Appendix

SAIGON GARMENT MANUFACTURING TRADE JOINT STOCK

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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128

VIII. Appendix

Hoa Tho Textile and Garment

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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128

VIII. Appendix

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

DONG NAI GARMENT CORPORATION

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128

VIII. Appendix

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

THAI NGUYEN INVESTMENT AND TRADING JOINT STOCK COMPANY

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128

VIII. Appendix

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

VIET THANG CORPORATION

Page 118: VIETNAM TEXTILE AND GARMENT INDUSTRY ......4. Risks 80 6. Enterprise analysis 90 4.1. . 5-forces analysis 81 6.6.1. Garment enterprise analysis 91 4.2. SWOT analysis 84 6.6.2. Textile

128

VIII. Appendix

PHONG PHU JOINT STOCK COMPANY

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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128

VIII. Appendix

THANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

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128

VIII. Appendix

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

Century Fiber Joint Stock Company

Page 121: VIETNAM TEXTILE AND GARMENT INDUSTRY ......4. Risks 80 6. Enterprise analysis 90 4.1. . 5-forces analysis 81 6.6.1. Garment enterprise analysis 91 4.2. SWOT analysis 84 6.6.2. Textile

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VIII. Appendix

HUE TEXTILE GARMENT JOINT STOCK COMPANY

BALANCE SHEET

Unit: VND million 2017 2018

A. CURRENT ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

IV. Inventories

V. Other current assets

B. LONG-TERM ASSETS

I Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Short-term Liabilities

II. Long-term liabilities

B. OWNER'S EQUITY

I. Owner's equity

II. Other funding sources

TOTAL LIABILITIES AND OWNER'S EQUITY

INCOME STATEMENT

Unit: VND million 2017 2018

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 2017 2018

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

Page 122: VIETNAM TEXTILE AND GARMENT INDUSTRY ......4. Risks 80 6. Enterprise analysis 90 4.1. . 5-forces analysis 81 6.6.1. Garment enterprise analysis 91 4.2. SWOT analysis 84 6.6.2. Textile

Khuyến cáo sử dụng

122

Bản báo cáo này được thực hiện bởi Công ty Cổ phần Nghiên cứu Ngành và Tư vấn Việt Nam (VIRAC), chỉ cung cấp những thông tin tổng quan về ngành và

phân tích doanh nghiệp. Mọi thông tin, nhận định và dự báo và quan điểm trong báo cáo này được dựa trên những nguồn dữ liệu đáng tin cậy và dựa trên sự

cẩn trọng tối đa tại thời điểm viết báo cáo. Tuy nhiên do các nguyên nhân chủ quan và khách quan từ các nguồn thông tin công bố, VIRAC không đảm bảo về

tính xác thực của các thông tin được đề cập trong báo cáo phân tích và không chịu bất kỳ một trách nhiệm nào đối với tính chính xác của những thông tin

được đề cập đến trong báo cáo này, cũng như không chịu trách nhiệm về những thiệt hại đối với việc sử dụng toàn bộ hay một phần nội dung của bản báo

cáo. Những quan điểm và nhận định được đề cập trong báo cáo có thể được thay đổi, cập nhật mà không cần báo trước. Bản báo cáo này có bản quyền và là

tài sản của Công ty Cổ phần Nghiên cứu Ngành và Tư vấn Việt Nam (VIRAC). Nghiêm cấm mọi hành vị sao chép, sửa đổi, in ấn mà không có sự cho phép bằng

văn bản của VIRAC.

MỌI THÔNG TIN CHI TIẾT XIN ĐƯỢC LIÊN HỆ:

CÔNG TY CỔ PHẦN NGHIÊN CỨU NGÀNH VÀ TƯ VẤN VIỆT NAM

Tầng 6, tòa nhà Anh Minh, 36 Hoàng Cầu, Phường Ô Chợ Dừa, Quận Đống Đa, Hà Nội

Website: http://virac.com.vn/

Email: [email protected] | Số điện thoại: +84 463289520

Page 123: VIETNAM TEXTILE AND GARMENT INDUSTRY ......4. Risks 80 6. Enterprise analysis 90 4.1. . 5-forces analysis 81 6.6.1. Garment enterprise analysis 91 4.2. SWOT analysis 84 6.6.2. Textile

Thank you !

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