AsemconnectVietnam - Nam Kim Steel Joint Stock Company (code NKG - HOSE) continuously increases the investment capital of the Nam Kim Phu My Steel Roofing Sheet Factory project and has made a move to increase the charter capital of the subsidiary investing in the project.

Nam Kim Steel approved the additional contribution of VND620.3 billion to increase the capital of Nam Kim Phu My Steel Company Limited from VND2,079.7 billion to VND2,700 billion, the additional contribution form is cash and is expected to be implemented in many phases in 2025 and/or 2026.
The additional contribution amount will be used to invest in the Nam Kim Phu My Steel Roofing Sheet Factory project and supplement working capital for Nam Kim Phu My Steel.
Previously, in April 2025, Nam Kim Steel also adjusted the investment policy of the Nam Kim Phu My Roofing Steel Factory project from the current investment capital of VND4,500 billion to VND5,800 billion, an increase of VND1,300 billion; and in July 2025, it continued to increase the project investment capital to VND6,200 billion, an increase of VND400 billion. Explaining the increase in investment capital, Nam Kim Steel said that it was to supplement investment capital for production lines, technology, and production of silicon steel used in electric motors, automobiles, transformers, etc.
At the 2025 General Meeting of Shareholders on April 25, Mr. Ho Minh Quang, Chairman of the Board of Directors of Nam Kim Steel, shared that the Nam Kim Phu My Steel Factory Project is being implemented on schedule, expected to be operational in the first quarter of 2026. The factory is expected to need 2-3 quarters in the first phase of operation to run at 50-60% of its total capacity and is expected to run at full capacity in 2027.
At the same time, Mr. Vo Hoang Vu, General Director of Nam Kim Steel shared: “The technology of Phu My factory is completely different from other factories in the industry. The product lines of the new factory are high-quality products, targeting high-end segments that are not too competitive such as supporting industries, automobile industry, supporting mechanics, household appliances, etc.”
In terms of business activities, in the second quarter of 2025, Nam Kim Steel recorded revenue of VND3,808.49 billion, down 32.7% over the same period, and after-tax profit of VND91.59 billion, down 58.3% over the same period. In which, gross profit margin decreased from 9% to 7.1%.
During the period, gross profit decreased by 47.3% over the same period, equivalent to a decrease of VND241.93 billion, to VND270.02 billion; Financial revenue decreased by 46.9%, equivalent to a decrease of VND53.26 billion, to VND60.36 billion; financial expenses increased by 105.4%, equivalent to an increase of VND73.75 billion, to VND143.69 billion; sales and administrative expenses decreased by 40.6%, equivalent to a decrease of VND115.38 billion, to VND168.59 billion; other profits increased dramatically by VND93.25 billion, to VND94.18 billion.
In the first half of 2025, Nam Kim Steel recorded revenue of VND7,898.64 billion, down 27.9% over the same period, and after-tax profit of VND157 billion, down 57.5% over the same period last year.
In 2025, Nam Kim Steel plans to produce a total output of 1.05 million tons; Total revenue of VND23,000 billion, up 11.1% over the same period; pre-tax profit of VND440 billion, down 21.1% compared to the implementation in 2024.
Thus, ending the first half of 2025 with pre-tax profit reaching VND193.3 billion, Nam Kim Steel has only completed 43.9% of the yearly plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan