HCMC – Nam Kim Steel JSC (HOSE: NKG) will inject an additional VND620.3 billion into its subsidiary Nam Kim Phu My Company to fund the Phu My roofing sheet plant project and increase working capital.
The move will lift the subsidiary’s charter capital from VND2.08 trillion to VND2.7 trillion. Contributions will be made in several phases in 2025 and 2026.
Nam Kim has raised the project’s planned investment three times this year. The budget was increased from VND4.5 trillion to VND5.8 trillion in April and to VND6.2 trillion in July. The company said the higher investment will cover new production lines and technology, including silicon electrical steel for motors, cars, and transformers.
Ho Minh Quang, the steelmaker’s board chairman, said the plant is on schedule to begin operations in early 2026 and is expected to reach full capacity in 2027 after two to three quarters of partial operation.
In the second quarter, Nam Kim reported revenue of VND3.81 trillion, down 32.7% year-on-year. Net profit fell 58.3% to VND91.6 billion. Gross margin narrowed to 7.1% from 9%.
The firm’s first-half revenue dropped 27.9% to VND7.9 trillion, with its net profit down 57.5% at VND157 billion. Its pre-tax profit reached VND193.3 billion, meeting 43.9% of the company’s 2025 target of VND440 billion.
Nam Kim aims for 1.05 million tons in sales and VND23 trillion in revenue this year, up 11.1% from 2024.
Closing the trading session today, September 29, NKG edged down 0.82% to VND18,150, with over 8.9 million shares changing hands.
Vietnam’s benchmark VN-Index closed higher on Monday, backed by property and some banking stocks, though market breadth remained negative.
The index rose 5.78 points, or 0.35%, to 1,666.48, with 86 gainers and 233 decliners. Trading volume reached 932.8 million shares worth VND27.07 trillion, little changed from the previous session. Block deals accounted for 124.3 million shares valued at VND3.69 trillion.
The VN30-Index added 9.58 points to 1,862.23 points, with 10 winners and 18 losers. Developer VIC rose 5.4% and VHM gained 2.9%, contributing more than 11 points to the benchmark index.
Banks recovered in late trade. HDB gained 2.5% and VPB rose 2.3%. CTG, TPB, STB and TCB inched up about 0.5% each. SHB slid 2.3% to VND16,800, the day’s low, with the highest liquidity on the market at 78.6 million shares.
Technology firm FPT lost 2.1% to VND95,500, taking away nearly 0.8 point from the index.
In the mid- and small-cap group, GEE hit the ceiling price of VND118,700 with 1.87 million shares traded. GEX advanced 4.5% to VND55,400 with more than 10 million shares changing hands.
The property sector led the market on VIC and VHM, while smaller developers came under selling pressure. DXG dropped 4% to VND21,850 with 48.7 million shares traded, including four million sold by foreign investors. DIG fell 3% with 5.5 million shares sold by foreigners, while PDR shed 2.6% with foreign net selling of 2.6 million shares.
On the Hanoi Stock Exchange, the HNX-Index lost 0.91 point, or 0.33%, to 275.15, with 58 stocks advancing and 98 declining. Trading volume was 79.6 million shares worth VND1.8 trillion.
