HCMC – Nam Kim Steel JSC plans to issue over 44.7 million shares as a 2025 stock dividend, which would raise its charter capital to VND4.9 trillion.
The company approved a stock dividend of 10%, meaning shareholders will get 10 new shares for every 100 shares held. The share issue is expected in 2026 after regulatory procedures are completed.
With 447.57 million outstanding shares, the company is expected to increase its charter capital from VND4.48 trillion to VND4.92 trillion if the issuance is completed.
In the first quarter of 2026, the steelmaker reported revenue of VND3.26 trillion, down 20.3% from a year earlier. Its net profit plunged 67.2% to VND21.46 billion.
Its gross profit margin declined to 2.6% from 6.4% a year earlier, and its gross profit slumped 67.6% to VND85.19 billion.
Its financial income rocketed 107.5% year-on-year to VND96.67 billion, while its financial expenses fell 15.5% to VND54.4 billion. Its selling and administrative expenses declined 39.3% to VND102.33 billion.
Despite lower expenses, weaker revenue and a sharp decline in gross profit reduced earnings in the quarter.
For 2026, the company looks to obtain revenue of VND22 trillion and pre-tax profit of VND400 billion, up 47.7% and 66.7% against 2025 results, respectively.
After the first quarter, the company had completed 6.3% of its full-year pre-tax profit target.
Closing the trading session today, May 27, NKG edged down 0.71% to VND13,950, with nearly 3.4 million shares changing hands.
The VN-Index fell 0.52% to 1,874.43 points as declines in major property stocks outweighed gains in banking shares, while market liquidity improved from the previous session.
The benchmark index lost 9.75 points at the close, with 142 winners and 174 losers on the Hochiminh Stock Exchange.
Trading volume rose 13.8% from the previous session to 830.5 million shares, while trading value increased 22.7% to VND24.22 trillion. Block deals accounted for 163.3 million shares worth VND6.38 trillion.
Property stocks related to Vingroup remained under pressure. VIC shares of Vingroup JSC narrowed losses late in the session but still closed down 1.03% at VND210,800, with 4.5 million shares traded.
VRE fell 4.43% to VND31,250, while VHM dropped 4.16% to VND147,400. VPL declined 4.18%.
On the Hanoi Stock Exchange, the HNX-Index extended gains for a 13th straight session. The index edged up 1.47% to 282.23 points, with 57 advancers and 73 decliners. Trading volume reached 43.8 million shares worth VND747.4 billion.
