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VIETNAM TEXTILE AND GARMENT INDUSTRY COMPREHENSIVE REPORT Q1/2020
1
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
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
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
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)
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)
7
1. Môi trường kinh doanh
Nội dung
1. BUSINESS ENVIRONMENT
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
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
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
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
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. .
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
14
Group of tax regulations
• Import Tax
• Enterprise Income Tax
1. Business environment
1.2. Legal framework
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.
16
Important trade agreements on textile industry
1. Business environment
1.3. Trade agreements
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.
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
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
20
1. Business environment
1.4. The impacts of US-China trade war on Vietnam's fiber industry
21
2. WORLD MARKET
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
2. World market
2.2 Global value chain
23
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
CMT OEM/FOB
ODM
OBM
25
2. World market
2.2 Global value chain
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
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.
28
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
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
• 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
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
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
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, ...
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
• 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
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.
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
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.
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.
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.
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.
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.
3. VIETNAM MARKET
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.
• 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
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
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.
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
3. Vietnam market
3.1 Industry overview
• Textile and garment industry responds to industrial revolution 4.0:
49
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
51
Method of cultivation and cotton growing area in Vietnam
3. Vietnam market
3.2 Input materials
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
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
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
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.
• 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
57
3. Vietnam market
3.3 Spinning
The investment capacity of piles splicing project machinery and equipment
Source: VIRAC
58
3. Vietnam market
3.3 Spinning
Investment capacity for OE project machinery and equipment
Sourc:e: VIRAC
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
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
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
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
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
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
• 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
The process of textile dyeing
66
3. Vietnam market
3.4 Dyeing and Weaving
General assessment of Vietnamese textile technology and machinery
Nguồn: VIRAC
77
3. Vietnam market
3.4 Dyeing and Weaving
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
• 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
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
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
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.
• 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
• 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
• 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
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
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
78
3. Vietnam market
3.6 Distribution and export system
Diagram of distribution channel system of the domestic textile market, 2019
Source: VIRAC, Euromonitor
3. Vietnam market
3.6 Distribution and export system
79
Method of export of textiles and garments
Method of payment:
-
-
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
4. Risks
4.1 5-forces analysis
81
Source: VIRAC synthesized
Factor Consider Rate
Rate of competition in Vietnam textile and garment industry
4. Risks
4.1 5-forces analysis
82
• Competitiveness of the market
Factor Consider Rate
• Consumers' haggling ability
Factor Consider Rate
4. Risks
4.1 5-forces analysis
83
Factor Consider Rate
Factor Consider Rate
Strength Weakness
Opportunity Challenge
84
4. Risks
4.2 SWOT analysis
85
5 Quy hoạch và dự báo
5.1 Quy hoạch ngành
5.2 Dự báo
Nội dung
5. PLANNING AND FORECAST
5. Planning and Forecast
5.1 Planning
86
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
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
89
5. Planning and Forecast
5.2 Forecast
Source: VIRAC
Billion USDForecast of export turnover of textiles and garments, 2016 - 2025f
6. ENTERPRISE ANALYSIS
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
92
No. Enterprise Business sector2018 net revenue
(billion dong)Profile
6. Enterprise analysis
6.1. Garment enterprise analysis
93
No. Enterprise Business sector
2018 net
revenue
(billion
dong)
Profile
4
5
6. Enterprise analysis
6.1. Garment enterprise analysis
94
No. Enterprise Business sector
2018 net
revenue
(billion
dong)
Profile
6
7
8
6. Enterprise analysis
6.1. Garment enterprise analysis
6. Enterprise analysis
6.1. Garment enterprise analysis
95
Billion dong
Source: VIRAC
%Net revenue, 2017 - 2018
6. Enterprise analysis
6.1. Garment enterprise analysis
96
Billion dong
Source: VIRAC
Gross profit margin, 2017 - 2018
6. Enterprise analysis
6.1. Garment enterprise analysis
97
Billion dong
Source: VIRAC
Financial cost and ratio of financial cosM/net revenue, 2017 - 2018
6. Enterprise analysis
6.1. Garment enterprise analysis
98
Source: VIRAC
Debt Repayment Capability, 2017 - 2018
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.
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
101
No. Enterprise Business sector
2018 net
revenue
(billion
dong)
Profile
6. Enterprise analysis
6.2. Textile and yarn enterprise analysis
102
No. Enterprise Business sector
2018 net
revenue
(billion
dong)
Profile
6. Enterprise analysis
6.2. Textile and yarn enterprise analysis
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.
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,
6. Enterprise analysis
6.2. Textile and yarn enterprise analysis
105
Source: VIRAC
BillionVND
Financial expense and expenses Financial expenses/Net revenue, 2017 - 2018
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
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.
108
APPENDIX
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
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
128
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
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
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
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
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
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
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
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
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
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
128
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
Khuyến cáo sử dụng
122
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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
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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
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văn bản của VIRAC.
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