| EUHWA PHONG INVESTMENT CO., LIMITED | Private company limited by shares | Live |
| FULL PHONG (HONG KONG) CO., LIMITED | Private company limited by shares | Dissolved |
| KIEN PHONG (ASIA) LIMITED | Private company limited by shares | Live |
| Lao Phong Wind Power Investment Limited | | Live |
| QUANG DUC PHONG COMPANY LIMITED | Private company limited by shares | Live |
| PHONG TRADING LIMITED | Private company limited by shares | Live |
| Viet Phong Wind Power Investment Limited | | Live |
| GO PHONG WATCH COMPANY LIMITED | Private company limited by shares | Dissolved |
| PHONGPHASIN GROUP INTERNATIONAL COMPANY LIMITED | Private company limited by shares | Dissolved |
| PHONGTEX LIMITED | Private company limited by shares | Dissolved |