AsemconnectVietnam - After a year of maintaining stable production amidst many fluctuations in the steel industry, Ton Dong A continues to focus on domestic demand in 2026, while also outlining the operational roadmap for the Phu My plant, a capacity expansion strategy, and a plan to list on the HOSE.

Ton Dong A uses the domestic market as its foundation
On the morning of May 29th, Ton Dong A Joint Stock Company (GDA - UPCoM) held its 2026 Annual General Meeting of Shareholders. In 2026, Ton Dong A plans a total production volume of 760,000 tons, total revenue of VND16,000 billion, and an expected after-tax profit of VND250 billion.
Mr. Nguyen Thanh Trung, Chairman of the Board of Directors, shared that in the context of continued strong global geopolitical fluctuations, production, trade, and international supply chains are significantly impacted. The trend of trade protectionism, increased trade barriers, and anti-dumping measures has emerged in many countries, especially in North America and Europe, creating significant pressure on the export activities of manufacturing businesses, including the steel industry.
However, Vietnam is demonstrating positive adaptability. Along with this, promoting institutional reforms, perfecting the legal framework, and enhancing transparency are considered the foundation for Vietnam to enter a new phase of development in the next 10-20 years.
For the steel industry, the growth potential remains very large. The target of double-digit economic growth in the medium and long term, along with the strategy of boosting public investment, is creating a large demand for construction materials and infrastructure. Vietnam is currently at a low base compared to its development potential, therefore the room for expansion in the steel industry remains significant.
Simultaneously, the trend of shifting global supply chains is making Vietnam one of the important destinations for FDI capital. This is a positive factor supporting the processing and manufacturing industry and domestic steel consumption.
According to the steel industry development plan, Vietnam's steel production could reach 40-50 million tons by 2035-2045, double the current level. This shows that there is still enormous room for development for both businesses and the economy.
“Our view is to use the domestic market as the foundation for Ton Dong A's development position. Over the years, the company has invested systematically in management systems, quality standards, and has obtained many international certifications to participate in markets with stringent requirements,” Mr. Trung emphasized.
Also at the General Meeting, based on the 2025 business results, Ton Dong A decided to pay dividends for 2025 at a total rate of 20%. This includes a cash dividend of 10%, expected to be paid in 2026; and a stock dividend of 10%, expected to be paid in 2026-2027.
If the 2025 dividend share issuance is completed, Ton Dong A plans to issue more than 14.9 million additional shares to increase its charter capital from VND1,491 billion to VND1,640 billion.
The Phu My steel plant could be operational from 2027 and is expected to be approved for listing in Q3/2026.
Regarding investment plans, Ton Dong A is currently investing in its fourth plant in the Phu My specialized industrial park with a total capacity of 1.2 million tons/year, of which phase 1 with a capacity of 300,000 tons/year is expected to be operational from 2027. The company will diversify its products to specialized steels such as household appliances, furniture, and automobiles…; the fifth plant project, a pipe and tube (steel pipe) manufacturing plant in Phu My 1 industrial park, is Ton Dong A's second pipe and tube manufacturing plant with a capacity of 60,000 tons/year, and the project is expected to begin production in Q1/2026.
Furthermore, Dong A Steel plans to launch its first product from its Indonesian factory in Q2/2027, a move seen as expanding its presence in the region and diversifying its market.
“Expanding the production of high-quality steel products, targeting value-added applications such as household goods, furniture, automobiles, and large infrastructure projects, aims to enhance competitiveness and market value,” emphasized General Director Doan Vinh Phuoc.
Besides its core business, Mr. Doan Vinh Phuoc also shared information about investment in the real estate sector. Dong A Central Vietnam Investment and Real Estate Company Limited plans to complete the project's legal procedures, commence construction and sales of phase 1 (136 plots), and launch sales of phase 2 (74 plots) in Q2/2027. Simultaneously, the company is seeking investment opportunities through joint ventures, mergers and acquisitions, or new project investments to expand its real estate business and optimize business efficiency.
At the General Meeting, in addition to the development strategy, the Board of Directors also shared the plan to transfer from UPCoM to HOSE. The Chairman stated that the transfer application process to HOSE has been underway for several months, and the transfer license is expected to be obtained in the third quarter of 2026. However, the company will consider the appropriate time to transfer, ensuring stable operations and maximizing shareholder benefits.
N.Nga
Source: VITIC/Tinnhanhchungkhoan