FINANCIAL REPORT

Financial Accounting

Prepared by
Doan Duc Long
Dang Nghi Binh
Do Minh Tri
Tran Phan Thien Trang
 TABLE OF CONTENT

TABLE OF CONTENT................................................................................................................. 1
COMPANY INTRODUCTION.................................................................................................... 2
FINANCIAL STATEMENT ANALYSIS.................................................................................... 3
Balance Sheet.............................................................................................................................3
Horizontal Analysis............................................................................................................. 3
Vertical analysis................................................................................................................... 5
Income Statement.......................................................................................................................7
Horizontal Analysis............................................................................................................. 7
Vertical Analysis.................................................................................................................. 7
PROFITABILITY ANALYSIS..................................................................................................... 7
Profit Margin..............................................................................................................................7
Asset Turnover...........................................................................................................................7
Return on Asset..........................................................................................................................8
Earning Per Share...................................................................................................................... 9
LIQUIDITY ANALYSIS...............................................................................................................9
Cash Flow To Sales..................................................................................................................10
Cash Flow To Asset................................................................................................................. 10
FINANCIAL RISK ANALYSIS................................................................................................. 11
Debt on Equity......................................................................................................................... 11
Return on Equity...................................................................................................................... 11
OPERATION EFFICIENCY......................................................................................................12
Inventory Turnover.................................................................................................................. 12
Receivable Turnover................................................................................................................ 13
Payable Turnover..................................................................................................................... 14
Current Ratio............................................................................................................................14
Day of Payable Outstanding.................................................................................................... 15
CONCLUSION............................................................................................................................ 15
REFERENCES.............................................................................................................................16

1
COMPANY INTRODUCTION

Name: Mekong Fisheries JSC

Abbreviation: AAM

Address: Lot 24 Tra Noc Industrial Park, Binh Thuy District, Can Tho City

Phone: +84 2923 841 294

Fax: +84 2923 841 192

Email: info@mekongfish.vn

Website: www.mekongfish.vn

2
 ● The company's areas of operation include:
1. Buying, processing, importing, and exporting aquatic products, rice, and
other agricultural products.
2. Importing private goods, machinery, equipment, and means of production
for agriculture and aquaculture.
3. Aquatic farming, producing and importing of animal feed and aquatic
products.
4. Importing, classifying, and trading all types of iron and steel.
5. Investing in finances, real estate.

FINANCIAL STATEMENT ANALYSIS

Balance Sheet
Horizontal Analysis
Table 1.1

3
 Table 1.2

Table 1.1 and 1.2: The two tables show the Mekongfish Balance Sheet for 2020, 2021, and 2022
(in billions of VND and in percentages)

Based on information from the balance sheet, we are able to determine that the total
assets and the business's overall performance fluctuated consistently over the study period, which
extended from 2020 to 2022. The total assets of the organization are specifically 211,00 billion
VND in 2020 and 201,00 billion up to 2021, a decrease of 10 billion VND (approximately 5%)
from the same period in 2020. Perhaps this reduction in activity and product demand was
brought on by the economic downturn brought on by the COVID 19 outbreak. The company's
total assets reached 219,00 billion VND by 2022, gaining 18 billion (around 8%) from 2021 as a
result of a substantial rise in short-term asset investments and inventories. Therefore, the below
trend chart for the entire 2020–2022 period illustrates how corporate asset volatility in the setting
of the market has a number of difficulties and drawbacks, and it also partially demonstrates how
enterprise business expansion is unsustainable.

4
 Chart 1.3: The trend line provides the Mekongfish Balance Sheet for 2020, 2021, and 2022 (in
percentages)

The liabilities line on the trend graph has dramatically fallen as of the year 2021,
declining from 17 billion VND in 2020 to 7 billion VND in comparison to 2020, a reduction of
10 billion VND or over 59%. The year 2022 exhibits indications of an improvement of 11% over
the year 2021. In terms of the Company’s Equity, during the same period, the category
maintained constant at 194,00 and witnessed a small growth to 210,00, an increase of
surrounding 8%.

=> This could demonstrate that the firm is sustainable and less reliant on outside sources, as well
as has no trouble repaying debts and possesses a lot of cash on hand (mostly equity).

It is apparent from the initial table that the equity structure more than liabilities is
primarily held in assets totaling. In our opinion, this is one of the AAM corporation's benefits,
which minimizes the debt load on the company and enhances production stability. Thanks to its
financial stability, this company can gain trust and attract investors. However, with such a high
percentage, it is also a negative condition for management when a business is unable to use
additional resources, such as outside financial sources. As a result, the corporation has lost out on
many opportunities when they ignore outside financing to expand operations.

According to (Nld.com.vn, 2020), Covid-19 has greatly affected the production activities
of Mekong Fisheries Joint Stock Company. Due to the impact of the disease, aquaculture
activities at Mekong Fisheries have been disrupted, especially the supply of food and seed for
fish. The transportation of goods and seafood is also facing many difficulties due to movement
restrictions and logistical difficulties. Moreover, the export of seafood products of the company
has also faced significant difficulties due to many countries imposing social distancing measures,
as well as import restrictions.

5
 Vertical analysis

We are all aware that the simplest way for managers, investors, and suppliers to evaluate
the financial health of an organization is by looking at its assets. As a result, manufacturing and
commercial processes employ the evaluation of efficiency assets. In furtherance of taking part in
relevant production and selling, the firm distributes processed seafood. Therefore, long-term
assets, which include fixed assets like factories and technology lines as well as short-term assets
for businesses that have achieved sales and have received items but have not yet been paid
(short-term receivables), make up the majority of assets.

Table 2.1

Table 2.2

Table 2.1 and 2.2: The two tables display of Mekongfish's total assets for the years 2020, 2021,
and 2022 (in billions of VND and in percentages)

Viewed from the table, short-term assets make up the majority of the company's asset
structure, which can be determined by investigating the correlation between short-term and
long-term assets.

6
 Chart 2.3: The pie chart presents the Mekongfish’s total assets for 2020 (in percentages)

The share of long-term assets at AAM is considerably lower contrasted to the greater
portion of total short-term assets. In line with the general market trend, AAM's percentage of
long-term assets also changes somewhat between 2020 and 2022, from approximately 18 percent
to 17%.

Besides that, an upsurge in cash and cash equivalents from 12.3% in 2020 into 30.8% by
2021 and shortage down 4.5% in 2022 have both occurred. Thus, the corporation will have
plenty of cash in 2020 and 2021 (about 36 billion VND). Even though Mekong Fisheries has a
solid financial foundation and lacks debt or liabilities, which constitute just a fraction of the
capital structure, the company's excess resources aren't especially abundant because revenue and
inventories create a sizable portion of the operating capital. From the chart, it can be seen that
inventory covers almost all of all short-term assets (around 56% of the overall amount). Also,
around 64% of all assets would be formed up of inventory and short-term receivables in 2020.
The number remained until the next year when it plummeted to 45 percent. Through 2022, these
two components tend to contribute for approximately 51% of the total.

=> In this situation, Covid may have had an impact, but people's consumption grew, leading to a
drop in inventory in both 2021 and 2022.

Income Statement
Horizontal Analysis
Table 1.1

7
 Table 1.2

Tables 1.1 and 1.2: The two tables reflect some of the information from
Mekongfish's Income Statement for 2020, 2021, and 2022 (in billions of VND and in
percentages)

Simply put, net revenue from selling items and rendering services is the money from the
company's "essential" business activities (after deducting any revenue deductions). This kind of
activity generally takes up an enormous amount of the revenue structure. We recognize from the
table and graph underneath that, between 2020 and 2022, the company's net revenue climbed
steadily. Revenue peaked at 121.00 billion VND in 2020, and by 2021 and 2022, it had risen to
134.00 and 212.00 billion VND, respectively.
=> The more the net revenues, the faster the company will grow, which is beneficial to the
business.

8
 Chart 1.3: The trend line includes a few figures from Mekongfish's income
statement for 2020, 2021, and 2022 (in percentages)

At the same time, despite several disruptions, net profit from industrial activities and total
accounting profit before tax have been growing continuously over the past few years. This
target's net operating profit slumped to a negative 13,000 billion VND in 2020, and when net
profit is negative, it means that the company's operations and production are in trouble. The
target amount of net profit from production, however, went up dramatically over the following
two years, reaching minus 1 billion VND in 2021 (up around 12 billion VND and more than
98%) and 12 billion VND in 2022. In a similar vein, overall accounting profit before tax
additionally recorded a significant gain, appearing from -$12,00 billion in 2020 to $18,00 billion
in 2022 (an increase of up to $30 billion VND). This also demonstrates the future development
and achievement of the company itself.

Vertical Analysis

9
 Table 2.1

Table 2.2

Tables 2.1 and 2.2: The two tables indicate the total Net revenue from sales of
goods and provision of services from Mekongfish for 2020, 2021, and 2022 (in billions of
VND and in percentages)

10
 Chart 2.3: The pie chart represents Net revenue from sales of goods and provision
of services from Mekongfish for 2021 (in percentages)

Cost of goods sold is an important element to product cost for organizations that manufacture
goods and import and export seafood, consisting of AAM. In this sector, the cost of raw
materials makes up around 80%–82% of the total cost, and packaging materials make up about
4%–5% of the price of the finished product. To be explicit, the cost of items sold would go up by
121 billion VND in 2020, 127 billion VND in 2021, and 185 billion VND in 2022. A small
amount of this company's revenue comes from the service sector, but that portion keeps
increasing and demonstrates that Mekongfish has been able to reap advantages from its edge of
profit from other services as opposed to just other services routine sale at cost price.

PROFITABILITY ANALYSIS

Profit Margin
The Profit Margin is a financial ratio used to measure a company's profitability and is
expressed as a percentage of a company's revenue generated after accounting for all expenses,
including taxes, interest, and depreciation.

2020 2021 2022

Net Income -11,967 226 16,900
Revenue 120,887 134,110 212,008
Profit Margin -9.89933 0.168518 7.971397

Looking at Mekong Fisheries JSC's Profit Margin, we see that the company had a
negative Profit Margin of -9.89933 in 2020, which improved to 0.168518 in 2021 and
significantly increased to 7.971397 in 2022.

A negative Profit Margin indicates that the company has incurred more expenses than
revenue earned, resulting in a net loss. However, the improvement in profitability, shown by
Mekong Fisheries JSC's positive Profit Margin in 2021 and significant growth in 2022, implies
that the company has become more efficient in reducing its expenses or increasing revenue.

A higher Profit Margin means that the company is earning more per dollar of revenue,
indicating better financial health and sustainability in the long term. Thus, Mekong Fisheries
JSC's significant improvement in Profit Margin from 2020 to 2022 suggests a positive trend in

11
terms of profitability and financial performance.

However, (Thủy Sản Mê Kông (AAM) chất Chồng Khó Khăn 2021) refer that the impact
of Covid-19 has caused a negative impact on the company's sales and profits. Mekong Fisheries
is facing many difficulties to maintain production and business activities in the context of the
epidemic.

Asset Turnover

2020 2021 2022

Net Sales 121000 134000 212000
Average Total Asset 219163 205953 209834
Asset Turnover Ratio 55.21005 65.06339 101.0322

The asset turnover ratio is a financial metric used to evaluate a company's efficiency in
generating revenue from its assets. The ratio measures how much revenue a company has
generated per dollar of assets it owns.

The asset turnover ratio for Mekong Fisheries JSC increased from 55.2100% in 2020 to
65.0633% in 2021 and 101.032% in 2022. This shows that the business has improved over time
in its ability to generate income from its assets.

A greater asset turnover ratio typically indicates that a business is making good use of its
assets to produce income. The rising asset turnover ratio for Mekong Fisheries JSC implies that
the business has probably made an attempt to enhance operations or maximize asset use. This is
typically seen as a positive trend for a business because it shows that the company is getting
more profitable and competitive.

Return on Asset

2020 2021 2022

Net Income -11967 226 16900

Average total 219163 205953 209834

12
 assets
Return on assets -5,46% 0,11% 8,05%

Mekong Fisheries JSC experienced a net loss in 2020, according to the company's
negative ROA of -5.46%. The corporation may have made a little profit compared to its total
assets, based on the positive ROA of 0.11% in 2021. It is clear from the higher ROA of 8.05% in
2022 that the company's profitability has greatly increased. A rising trend in ROA over time is
typically seen favorably since it shows that the business is making better use of its resources to
produce profits.

The greater ROA in 2022 shows that Mekong Fisheries JSC was able to improve its cost
management, grow sales, or a combination of both in order to raise its profitability. But it's
crucial to remember that ROA alone cannot give a complete picture of a company's financial
health; other elements like cash flow, liquidity, and debt levels must also be taken into account.

Earning Per Share

2020 2021 2022

Earning per
share 1145,07 21,58 1617,02

Mekong Fisheries JSC's high EPS of 1145.07 in 2020 suggests that the business had a
sizable profit in that year. The corporation may have become less profitable in 2021 based on the
low EPS of 21.58. However, the corporation was able to produce a substantially bigger profit,
which resulted in higher profits per share, as seen by the high EPS of 1617.02 in 2022.

A growing trend in EPS is typically seen favorably since it shows that the business is making
more profit per share, which can result in bigger dividend payments to shareholders. The
significant increase in EPS in 2022 demonstrates that Mekong Fisheries JSC has been successful
in enhancing its financial performance and profitability.

The number of shares in circulation, the company's general financial performance, and any stock
issuances or buybacks are some of the variables that may have an impact on EPS, so it's crucial

13
to keep this in mind. Additionally, other elements like cash flow, debt levels, and sales growth
should also be taken into account since EPS may not be able to capture a company's financial
success in its entirety.

LIQUIDITY ANALYSIS

Cash Flow To Sales

2020 2021 2022

Net Operating Cash Flow -21 43 -2
Net Revenue 121 134 212
Cash Flow To Sale -0.17355 0.320896 -0.00943

Cash Flow to Sales is a financial ratio that measures a company's ability to generate cash
flow from each dollar of its total sales revenue. It is calculated by dividing a company's operating
cash flow by its total sales revenue.

Looking at the Cash Flow to Sales ratio for Mekong Fisheries JSC, we can see that the
company had a negative ratio of -0.17 in 2020, meaning that the operational cash flow was
negative 17 cents for every dollar of sales revenue generated. The company's ratio, which was
0.32 in 2021, showed that the operating cash flow was positive for every dollar of sales revenue
generated by the company. The ratio significantly fell to -0.01 in 2022, showing that the
company's operating cash flow was minuscule in comparison to its sales revenue.

The improvement in Mekong Fisheries JSC's Cash Flow to Sales ratio from 2020 to 2021
suggests that the company was able to generate more cash flow from its operating activities
relative to its sales revenue. However, the slight decrease in the ratio in 2022 indicates that the
company's operating cash flow may have weakened again.

Cash Flow To Asset

2020 2021 2022

Net Operating Cash
Flow -21 43 -2
Average Total Asset 220 206 210

14
 -0.95
Cash Flow To Asset -9.6 20.87

Cash Flow to Assets is a financial ratio that measures the operating cash flow generated
by a company in relation to its total assets. It is calculated by dividing a company's operating
cash flow by its total assets.

According to Mekong Fisheries JSC's Cash Flow to Assets ratio, the business generated
negative operating cash flow in relation to its total assets in 2020, with a negative ratio of -9.6.
But in 2021, the ratio considerably increased to 20.87, meaning that the corporation generated
$20.87 in operating cash flow for every dollar of total assets.

However, in 2022, the ratio decreased again to -0.95, indicating that the company was
generating negative operating cash flow relative to its total assets.

The negative Cash Flow to Assets ratio in 2020 and 2022 suggests that the company's
operating cash flow was not sufficient to cover its investment in total assets. However, the strong
positive ratio in 2021 indicates that the company's operating cash flow significantly increased,
creating cash flow coverage for its total investments.

Overall, the fluctuation in the Cash Flow to Assets ratio from negative to positive values
suggests that Mekong Fisheries JSC may have experienced some liquidity issues, whereas in
2021, the company generated strong operating cash flow relative to its total assets. Investors
should consider the absolute values of the ratio and trend over time to better understand the
company's cash flow generation capability and its ability to invest in future growth opportunities.

FINANCIAL RISK ANALYSIS

Debt on Equity

2020 2021 2022

3,91% 0,017% 0,019%

Debt on Equity

Mekong Fisheries JSC's debt-to-equity ratio has been continuously declining year over
year. The relatively high debt-to-equity ratio of 3.91% in 2020 suggests that the company relied

15
heavily on debt to fund its operations. The amount of debt held by the firm has significantly
dropped, and as seen by the incredibly low ratios of 0.017% in 2021 and 0.019% in 2022, it is
now far more dependent on shareholder equity to support its operations.

A downward trend in the firm's debt-to-equity ratio is normally seen favorably since it
shows that the company is using less debt to support its activities. If the company has a lower
debt-to-equity ratio, it may be better able to weather economic downturns since it has less debts
that may become problematic during difficult times.

Although a low debt-to-equity ratio may be seen positively, it is important to consider

additional factors like cash flow, profitability, and liquidity in addition to this ratio when
evaluating a company's financial health.

Return on Equity

2020 2021 2022

Net revenue 121 134 212
Owner’s equity -2050 111666 2532
Return on Equity -5.90% 0.12% 8.37%

The negative ROE of -5.90% indicates that Mekong Fisheries JSC had a net loss in 2020,
and investors who purchased shares suffered losses. The company was able to generate a small
profit in 2021, as indicated by the positive ROE of 0.12% relative to the equity invested by
shareholders. As seen by a better ROE of 8.37% in 2022, the company's profitability has
significantly grown and shareholders have experienced a greater return on their investment.

Since it shows that the business is able to make more money from the investments of its
shareholders, an upward trend in ROE over time is generally considered favorably. Because of
the greater ROE in 2022, it appears that Mekong Fisheries JSC was able to grow its profitability,
which might boost investor confidence in the business.

It is crucial to remember that ROE alone cannot provide a thorough analysis of a

16
company's financial health, and that other elements like cash flow, liquidity, and debt levels
should also be taken into account when assessing a company's financial performance.

OPERATION EFFICIENCY

Inventory Turnover

2020 2021 2022

COGS 120,739,525,348 126,638,446,298 184,746,905,066
Average
Inventories 115621790893 102115405678 93354106160
Inventories
turnover (
times ) 1.044262716 1.240150254 1.97899067

The inventory turnover ratio of Mekong Fisheries JSC indicates the ability of the
company to manage its inventory effectively and efficiently use its available resources in
operations. A higher inventory turnover ratio suggests that Mekong Fisheries JSC is effectively
managing its inventory, selling its products quickly, and efficiently using its resources.

The inventory turnover ratio of Mekong Fisheries JSC indicates the ability of the
company to manage its inventory effectively and efficiently use its available resources in
operations. A higher inventory turnover ratio suggests that Mekong Fisheries JSC is effectively
managing its inventory, selling its products quickly, and efficiently using its resources.

Looking at the trend in the inventory turnover ratio of Mekong Fisheries JSC, the ratio
has increased from 1.044 in 2020 to 1.240 in 2021 to 1.978 in 2022. This indicates that the
company has improved its ability to manage its inventory and has become more efficient in
turning inventory to sales and utilizing its resources effectively.

Overall, a high inventory turnover ratio demonstrates Mekong Fisheries JSC's ability to
effectively employ its resources and manage its inventory, which is an essential factor in
achieving long-term profitability and financial success.

Receivable Turnover

17
 2019 2020 2021 2022
Net Revenue 216,121 120,886 134,110 212,007
Account Receivables 21,945 19,127 10,115 15,318
Average Account Receivables 20536 14621 12716.5

Receivables Turnover ( times ) 5.88 9.17 16.67

Based on the provided information, Mekong Fisheries JSC's receivables turnover ratio
has been increasing over the past three years, from around 5.886540709 in 2020 to about 9.17 in
2021, and roughly 16.67 in 2022. This trend implies that the company has been improving its
efficiency in collecting payments from its customers over time.

A higher receivables turnover ratio suggests that Mekong Fisheries JSC has been
successful in managing its credit policy, increasing the creditworthiness of its customers,
negotiating better payment terms, or intensifying its collection efforts. It can also mean that the
company has a better cash conversion cycle and that it is turning its receivables into cash more
quickly, enhancing its financial stability.

In summary, Mekong Fisheries JSC's increasing receivables turnover ratio implies that
the company is efficiently collecting payments from its customers, which is an essential aspect of
the company's cash flow management. A higher ratio can also indicate that the company has
been improving its credit policies and collection efforts, thereby contributing to a better financial
position for the company in the long run.

Payable Turnover

2019 2020 2021 2022

COGS 194,982 120,739 126,638 184,746
Account Payable 6,822 3,211 1,573 1,263

18
Average Account Payable 5016 2392 1418
Payable Turnover 24.06 52.93 130.26

In the case of Mekong Fisheries JSC, we can see an increasing trend in payable turnover
over the past three years. The payable turnover was 24.06 in 2020, 52.93 in 2021, and 130.26 in
2022. This indicates that the company is paying its suppliers faster each year, which can have
several benefits such as better relationships with suppliers, improved negotiating power, and
potentially discounted prices. Overall, a higher payable turnover is typically seen as a positive
indicator of a company's financial health and efficiency.

Current Ratio

We may observe a varying pattern in the current ratio during the last three years for
Mekong Fisheries JSC. In 2020, the company's current ratio was 11.04760062; in 2021, it was
29.40873016; and in 2022, it was 22.79160892.

2020 2021 2022

Current Asset 171,282 163,042 180,897
Current Liabilities 15,504 5,544 7,937
Current Ratio 11.04 29.4 22.8

When the current ratio is above 1, it suggests that the company has more short-term
assets than liabilities. Therefore, in all three years, Mekong Fisheries JSC had more than enough
short-term assets to cover its short-term liabilities.

The Mekong Fisheries JSC may have had larger cash reserves and fewer short-term
liabilities than in prior years, which is generally viewed as a favorable indicator since it allows
the Mekong Fisheries JSC more flexibility to address unforeseen expenses, as evidenced by the
significant increase in 2021. This corporation may have expanded its short-term liabilities
without expanding its short-term assets, as evidenced by the current ratio's fall in 2022. In
general, a fluctuating current ratio necessitates additional research into the Mekong Fisheries’
financial stability and financial management.

Day of Payable Outstanding

19
 2019 2020 2021 2022
COGS 194,982 120,739 126,638 184,746
Average Account Payable 6,822 3,211 1,573 1,263
Number of Days in the
Period 365
Day of Payable Outstanding 9.70 4.5 2.49

As you can see from the chart of Mekong Fisheries JSC, the DPO decreased significantly
in the past three years. The DPO was about 9.7 in 2020, around 4.5 in 2021, and approximately
2.5 in 2022. This suggests that the company is paying its suppliers at a faster pace each year.

A lower DPO can have several benefits such as improved relationships with suppliers,
reduced financial risk, and potential discounts on purchased goods. However, a sudden decrease
in DPO could also indicate that the company is making partial payments or has fewer suppliers,
which requires further investigation.

CONCLUSION

Through the process of researching and researching about Mekong Fisheries Joint Stock
Company, analyzing the company's financial situation. The team would like to suggest some
solutions to improve the financial performance of the company.

First,The issue of Mekong Fisheries JSC's decreasing cash flow yield and negative cash
flow yield, the company may consider the following solutions.Evaluate and potentially reduce
unnecessary expenses that may be adversely affecting the company's cash flow and Consider
reducing debt and improving liquidity in order to maintain a healthy cash flow position. In 2022,
the company's cash flow will weaken again, so we recommend diversifying the company's
income streams to minimize the dependency on a single revenue source. Overall, the fluctuation
in the Cash Flow to Assets ratio from negative to positive values suggests that Mekong Fisheries
JSC may have experienced some liquidity issues so solution here is To raise the company's
operating cash flow, improve working capital management, including effective inventory control
and receivables collection. To strengthen the company's short-term liquidity position, take into
account other financing possibilities like equity or debt financing.

20
 In order to create a more equitable capital structure, businesses should identify strategies
to reduce the equity by raising liabilities. To expand operations or invest in other enterprises, a
company may borrow money from banks or other lending institutions. The utilization of equity
capital will be more efficient as a result, however the business's financial stability may become
less guaranteed. To produce better, more competitive goods, manufacturers should spend more
on cutting-edge technology. They should also spend more on marketing and promotion,
especially for the domestic market. Beside that based on the analysis of return on assets (ROA)
of Mekong Seafood Joint Stock Company in the past 3 years, a possible solution to improve the
company's financial performance is Debt level management: Although Mekong Seafood Joint
Stock Company has significantly reduced its debt-to-equity ratio over the past two years, it is
still important that the company manages its debt levels carefully. This can be done by
negotiating favorable alternative repayment terms or exploring cash flow financing to reduce the
need to borrow. Reducing debt is also the most optimal solution to increase return on equity
(ROE), although the company has significantly reduced its debt-to-equity ratio in the past two
years, debt levels are still very important to improve profitability and reduce the risk of default.
Debt reduction strategies such as negotiating better debt payment terms and improving cash flow
can help achieve this.

SWOT ANALYSIS

Strengths: Weaknesses:

● Mekong Fisheries has a strong ● Mekong Fisheries heavily relies on a

reputation in the seafood industry and
a well-established brand.
● The company has a wide range of
products including frozen seafood,
fresh seafood, value-added products,
and feeds.
● Mekong Fisheries has a strong
distribution network and a wide
customer base.
● The company has been investing in
modern technology and equipment to
limited number of key suppliers for
raw materials, which can lead to
vulnerability in the supply chain and
increased costs.
● The company may have limited
capacity to increase production due to
space constraints and water supply
limitations.
● Mekong Fisheries faces stiff
competition in the seafood industry
from other large players.

21
 improve the efficiency of production
and reduce costs.
Opportunities: Threats:

● The demand for seafood and ● The outbreak of diseases such as

aquaculture products is increasing
globally and in Vietnam, providing
opportunities for Mekong Fisheries to
expand its customer base.
● The company can explore new
markets overseas to increase its
revenue and market share.
● Mekong Fisheries has the opportunity
to invest in research and development
to improve product quality and
develop new products.
Covid-19 can have a major impact on
the company's production and supply
chain, leading to financial loss.
● Government regulations related to
fishing and aquaculture may become
stricter, resulting in increased costs
and restrictions on production.
● Environmental issues such as climate
change may have an impact on
seafood production and can affect the
company's operations.

REFERENCES

Công Ty cổ Phần Thủy Sản mekong. CÔNG TY CỔ PHẦN THỦY SẢN MEKONG. (n.d.).
http://www.mekongfish.vn/

VietstockFinance. (2002, June 28). Aam: CTCP Thủy Sản mekong - aam - tài chính.
VietstockFinance. https://finance.vietstock.vn/AAM/financials.htm?tab=BCTT

Nld.com.vn. (2020, May 5). Sản xuất Bia sụt giảm Mạnh Nhất Trong Dịch Covid-19.
https://nld.com.vn.
https://nld.com.vn/kinh-te/san-xuat-bia-sut-giam-manh-nhat-trong-dich-covid-19-2020050
5104216178.htm

Phân Tích Hiệu QUẢ Kinh Doanh Của Công Ty cổ Phần Thủy Sản mekong. (n.d.).
https://repository.vnu.edu.vn/bitstream/VNU_123/6931/1/00050006041.pdf

Công Ty cổ Phần Thủy Sản Mekong Hoạt động Hiệu quả Ngày càng Cao. Thương mại biên
giới miền núi. (n.d.).
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 mekong-hoat-dong-hieu-qua-ngay-cang-cao-

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