Thanh Hang Beauty Medi revenue of hundreds of billions of dong, accumulated loss of tens of billions of dong

According to the Department of E-commerce and Digital Economy - Ministry of Industry and Trade, the domain name beautymedi.vn (website of Thanh Hang Beauty Medi Health and Beauty Care Institute) is currently owned by Truong Giang Investment and Service Joint Stock Company.

Photo of the website of the Department of E-commerce and Digital Economy - Ministry of Industry and Trade. — Photo of website of Department of E-commerce and Digital Economy - Ministry of Industry and Trade.

Regarding Thanh Hang Beauty Medi, Lao Dong recently had a series of articles about this facility publicly providing human stem cell services that are organized in a very methodical and professional manner with smooth coordination from staff to management, from reception, reception, examination, quotation and customer care.

Meanwhile, the introduction on the website beautymedi.vn said that Thanh Hang Beauty Medi is proud to be the first and only cosmetic address in Vietnam that gathers a team of talented, famous doctors with many years of experience from cosmetic powerhouses such as the US, Korea... and leading dermatologists in Vietnam with 20 years of experience.

Thanh Hang Beauty Medi's comprehensive care and beauty services are organized in a closed process. Complying with the strictest service standards of a modern, international standard beauty salon, to meet all skin and body shape solutions. Along with that, the price for customers to use Thanh Hang's services can be up to billions of VND/customer.

Currently, Thanh Hang Beauty Medi has 2 main facilities, 31,745 treatments with more than 56,799 customers. With a huge number of customers, it is not surprising that the revenue of the parent company, Truong Giang Service Company, has grown strongly in recent years.

For example, at the end of 2022, Truong Giang Service Company's revenue was about 115 billion VND, an increase of 83 billion VND compared to 2021, corresponding to a growth rate of up to 259% in just 12 months.

However, due to the high cost of capital, along with the sharp increase in sales costs and business management costs, the profit that Truong Giang Service Company brought in was only slightly more than 200 million VND. Previously, in 2021, the owner of Thanh Hang Beauty Medi Health and Beauty Care Institute also only recorded a profit of nearly 60 million VND - a small peppercorn when compared to the revenue figure of up to approximately 32 billion VND.

Thus, it can be seen that in the last 2 years, Truong Giang Service Company brought in nearly 150 billion VND in revenue, but the recorded profit on the books was less than 300 million VND.

This modest profit is not enough to offset the previous losses, so as of December 31, 2022, Truong Giang Service Company still suffered an accumulated loss of more than 20 billion VND. Therefore, the owner's equity is only about 80 billion VND, while the owner's contributed capital is 100 billion VND.

Change legal representative

Information on the National Business Registration Portal shows that in early January 2024, Truong Giang Investment and Service Joint Stock Company changed its legal representative.

Accordingly, Ms. Pham Minh Hang (born in 1996) - General Director of Truong Giang Investment and Service Joint Stock Company (Truong Giang Service Company) will take on the role of legal representative of the company instead of Ms. Dang Thanh Hang (born in 1967) - Chairwoman of the Board of Directors.

Truong Giang Service Company was established on December 3, 2009 in Hanoi. The company's main registered business lines are the operation of general, specialized and dental clinics.

Updated around June 2023, Truong Giang Service Company's charter capital reached 120 billion VND. The shareholder structure was not disclosed.

Meanwhile, according to the newly updated announcement in January 2024, the main address of Truong Giang Service Company is located at Le Ngoc Han Street, Pham Dinh Ho Ward, Hai Ba Trung District, Hanoi City. The enterprise has a total of 5 employees.

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