Minh Phu Seafood Corp has just announced its consolidated financial statements for the first quarter of 2022 with net revenue of VND 4,239 billion, up 50.8%. The gross profit margin improved from 8.8% to 11.6%.
The cost of goods sold increased by 46% to VND 3,747 billion, gross profit doubled over the same period to VND 491.8 billion. Financial revenue in the period decreased by 36.8% to 19.2 billion, while financial expenses jumped 24.4% to 32 billion.
Minh Phu Seafood reported a profit after tax of VND 91.2 billion, 3.4 times higher than the same period in 2021
At the end of the first quarter of 2022, Minh Phu Seafood Corp reported a profit after tax of 91.2 billion VND, 3.4 times higher than the same period in 2021. Selling expenses increased by 80% to 314.7 billion VND, and expenses for corporate management increased by 32.7% to 66.1 billion.
As of March 31, 2022, the total assets of Minh Phu Seafood Corp reached VND 9,647 billion, a slight increase compared to the beginning of the year. Most of which are short-term assets, reaching 7,100 billion VND (accounting for 73.6%). In which, inventories decreased by 12% to VND3,924 billion. Long-term assets increased 7% to VND 2,547 billion.
According to the annual report, Minh Phu sets a target of 21,018 billion VND in revenue, and 1,287 billion VND in profit after tax; respectively, increased by 55% and 96% compared to the implementation of 2021.
The company said it will continue to evaluate the trend of price fluctuations of main raw materials related to Minh Phu's the production and business activities, specifically the price movements of raw shrimp and finished shrimp in the world.
In addition, Minh Phu Seafood Corp focuses on speeding up the project of a high-tech industrial complex to develop a shrimp value chain with a scale of 10,000 hectares in Kien Giang. Thereby increasing the value of Minh Phu shrimp products.
In addition, this year, Minh Phu continues its strategy of diversifying shrimp consumption markets. Maintaining and clinging to main markets like the US, increasing shrimp export turnover to the EU market to take advantage of the EVFTA and UKVFTA agreements, bringing Minh Phu shrimp products to domestic consumers.
Previously, in mid-March, Minh Phu Seafood Corp decided to increase the charter capital of its subsidiary, Minh Phu Green Food Co., Ltd. from 2 billion VND to 50 billion VND from equity (equivalent to an increase of about 2 million VND). USD) to boost domestic market sales.
Compiled by Minh Trang
(seafood.vasep.com.vn) Vietnam’s seafood exports in February 2026 reached approximately USD 707 million, up 8% compared to the same period last year. Cumulatively, exports in the first two months of 2026 totaled USD 1.7 billion, an increase of 20.2% year-on-year. The results show that the sector’s recovery momentum has remained relatively solid following strong growth in January, although the pace slowed noticeably in February for several key products and major markets. Within the overall picture, shrimp continues to be the largest pillar, pangasius rebounds strongly, while tuna exports and the U.S. and Korean markets are sending signals that warrant closer monitoring. In March, seafood exports are expected to gain additional momentum from markets other than the U.S., potentially supporting stronger growth.
(seafood.vasep.com.vn) In the first months of 2026, fishing activities in Quang Tri province recorded many positive signals, with output reaching over 15,941 tons. This result not only demonstrates fishermen’s efforts to stay offshore but also reflects the effectiveness of management and support measures implemented by local authorities.
(seafood.vasep.com.vn) In the first months of 2026, IUU prevention models focused on communication and mobilizing fishermen to comply with fisheries laws and avoid encroaching on foreign waters—related to combating illegal, unreported, and unregulated (IUU) fishing—have been implemented in coastal localities of Lam Dong province and have delivered initial positive results.
(seafood.vasep.com.vn) The sharp rise in raw pangasius prices to record levels is sending positive signals for the industry, but experts warn of potential supply–demand imbalances if production is not tightly controlled.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, the country’s total canned tuna export value in 2025 reached over USD 275 million, down 8% compared to 2024. Vietnamese canned tuna products were present in approximately 80 markets worldwide. However, the 2025 picture shows clear divergence: the U.S. maintained stability, the EU declined sharply, while several Middle East–North Africa (MENA) markets accelerated.
(seafood.vasep.com.vn) In 2025, Vietnam’s crab exports reached nearly USD 86 million, up almost 6% compared to 2024. A notable feature of 2025 was the strong market concentration in the United States, which accounted for more than 81% of Vietnam’s total crab export value, up 10% from the previous year. In contrast, exports to several Asian markets declined significantly, resulting in only modest overall growth for the year.
(seafood.vasep.com.vn) In 2025, Vietnam’s tilapia exports recorded impressive growth, with total export turnover reaching over USD 99 million, highlighting the increasingly important role of this product in the country’s seafood export structure. Of this total, tilapia fillets and other fish meat products accounted for USD 61 million, representing 61% of total export value and reaffirming their position as the key product category.
(seafood.vasep.com.vn) Shrimp seed quality is considered the “first link” and a decisive factor affecting the efficiency of the entire commercial shrimp production chain. High-quality seed directly influences survival rates, growth performance, and disease resistance, thereby determining production costs, productivity, and farmers’ profitability.
(seafood.vasep.com.vn) As part of its agricultural restructuring strategy toward sustainability, Quang Tri Province is gradually promoting environmentally friendly aquaculture models. Among these, organic-oriented golden pompano farming is considered a promising direction, aligned with the goals of enhancing production value and building sustainable rural areas.
(seafood.vasep.com.vn) The year 2025 marked a pivotal milestone for Vietnam’s seafood industry in its restructuring process toward sustainability, transparency, and higher value creation, amid continued uncertainties in the global economic and trade environment. Prolonged inflation in major economies, the rising trend of trade protectionism, and increasingly stringent requirements related to environmental standards, traceability, and social responsibility have posed significant challenges to seafood production and exports. Nevertheless, overcoming these pressures, Vietnam’s seafood sector has gradually demonstrated its adaptability, maintained growth momentum, and laid an important foundation for the next stage of development.
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