AsemconnectVietnam - Nam Kim Steel Joint Stock Company (code NKG - HOSE) approved the termination of an investment project in Quang Nam province.

Nam Kim Steel approved the termination of the investment project of Nam Kim Chu Lai Steel Pipe Factory by the Management Board of Chu Lai Open Economic Zone (now the Management Board of Economic Zones and Industrial Parks of Quang Nam province) first licensed on June 9, 2020.
It is known that as of September 30, 2023, Nam Kim Steel owns 100% capital in Nam Kim Chu Lai Steel Pipe Company Limited, address at Street 01, Tam Hiep Port Logistics Industrial Park, Tam Hiep Commune, Nui Thanh district, Quang Nam province. Of which, the investment value is VND37.55 billion.
In terms of business activities, in the third quarter of 2023, Nam Kim Steel recorded revenue of VND4,262.06 billion, down 3.7% over the same period, profit after tax recorded a profit of VND23.66 billion compared to with a loss of VND418.69 billion in the same period, an increase of VND442.35 billion. In particular, gross profit margin has moved from negative 3.6%, to positive 4.8%.
Accumulated in the first 9 months of 2023, Nam Kim Steel recorded revenue of VND14,136.76 billion, down 24.7% over the same period and profit after tax recorded VND109.74 billion, down 62.1% over the same period last year.
It is known that in 2023, Nam Kim Steel sets a business plan with a total revenue of VND20,000 billion, an increase of 13.5% over the same period and an expected pre-tax profit of VND400 billion compared to the same period loss of VND106.91 billion, an increase of VND506.91 billion.
Thus, at the end of the first 9 months of 2023 with a pre-tax profit of VND146.97 billion, Nam Kim Steel has completed 36.7% of the year's profit plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan