Chinese Company Signs VND 271 Billion Factory Construction Contract in Ho Chi Minh City
Shenzhen Zhenbang Intelligent Technology said its Vietnamese subsidiary signed a VND 271 billion contract to build a factory in Ho Chi Minh City’s High-Tech Park. In the first half of 2026, the subsidiary’s net profit was about 1.6 times the group’s net profit attributable to shareholders of the parent company.
Shenzhen Zhenbang Intelligent Technology disclosed on November 13, 2026, that its Vietnamese subsidiary had signed a factory construction contract with Công ty Cổ phần Tổng thầu Xây dựng FANCONS. The project is located in Ho Chi Minh City’s High-Tech Park. The contract is worth VND 271 billion, including tax, and the construction period is 420 days, including rest days and public holidays.
In August 2025, the group approved an investment plan to expand production capacity in Vietnam, with total investment expected to be no more than approximately VND 540 billion (about USD 20.5 million). The funds will cover factory construction, machinery and equipment purchases, and related costs. The group said the contract marks a shift from renting factory space to building its own production facility in Vietnam. The new factory is expected to ease capacity shortages at its current rented site.
The Vietnamese subsidiary, Genbyte Technology (Vietnam), was established in January 2021 and produces electronic controllers. In 2025, it recorded revenue of approximately VND 1.718 trillion and net profit of nearly VND 169 billion. In the first half of 2026, revenue was approximately VND 1.148 trillion, up 38.77% year on year, while net profit reached nearly VND 102 billion.
Workers at a Genbyte Technology (Vietnam) factory.（VietVance）
Over the same period, the group recorded revenue of approximately VND 2.679 trillion, but net profit attributable to shareholders of the parent company was approximately VND 62 billion, down 68.45% year on year. The Vietnamese subsidiary’s net profit for the period was about 1.6 times the group’s net profit attributable to shareholders of the parent company in its consolidated financial statements. The group said exchange-rate fluctuations, rising raw material prices, pressure from customers to cut prices, and depreciation costs at new production facilities led to the decline in consolidated profit.
Source: VietVance
