Foxconn earns $317 million in after-tax profit in Vietnam

According to a financial report published by the Taiwanese firm, its facilities manufacturing spare parts and electronic devices generated the most gains in Vietnam.

Among Foxconn's industry rivals, New Wing Interconnect Technology Co., Ltd, based in the northern province of Bac Giang, reported an after-tax profit last year of almost VND5 trillion ($210 million) from a total revenue of VND33.8 trillion ($1.43 billion).

Fuyu Precision Component saw a little over VND2.4 trillion ($103 million) in after-tax profit and almost VND60 trillion ($2.54 billion) in revenue for the whole year.

Meanwhile, Fuhong Precision Component earned over VND1.37 trillion ($58.26 million) in profit out of almost VND46 billion ($1.94 billion) in revenue.

ShunYun Technology in Hanoi and Fushan Technology in Bac Ninh saw profits of VND246 billion ($10.4 million) and VND41.2 billion ($1.74 million) respectively.

The only industry player in Vietnam to report a loss in 2022 was ShunShin Technology, with an after-tax loss of VND3.9 trillion ($165.2 million).

In the LCD/OLED television and monitor manufacturing sector, Competition Team Technology in Quang Ninh realised an after-tax profit last year of almost VND330 billion ($14 million) among its revenue of around VND9 trillion ($382.5 million).

Its logistics arm, Jusda International Supply Chain Management, generated a profit of VND246 billion ($10.4 million) from revenue close to VND2 trillion ($84 million).

For manufacturers of computers and relevant components, FuKang Technology reported an after-tax loss of almost VND113.5 billion ($4.8 million) among a total revenue of over VND2.1 trillion ($89 million).

Foxconn entered the Vietnamese market in 2007, in the provinces of Bac Ninh, Bac Giang and Vinh Phuc, and has consistently expanded its operations here.

Quang Ninh People's Committee granted investment certificates to Thailand’s biggest industrial developer, Amata, for two Foxconn projects worth more than VND5.8 trillion ($246 million) in early July, to be located in Song Khoai and Quang Yen industrial zones.

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