AsemconnectVietnam - Vinhomes Joint Stock Company will provide working capital support for the production and business activities of Pomina Steel Joint Stock Company (POM – UPCoM) during the period 2026 – 2027.

Pomina Steel has just approved the signing of a framework cooperation agreement. Vinhomes Joint Stock Company (VHM – HOSE) will provide working capital support for the production and business activities of the Pomina Steel group of companies. The recovery of the support will be carried out through the purchase and sale of goods between Vinhomes and Pomina Steel and/or from other revenue sources of Pomina Steel as agreed in the contract, with a total working capital support limit of up to VND1,352 billion.
At the same time, Pomina Steel has authorized Mr. Do Tien Si, Vice Chairman of the Board of Directors and General Director, to represent the company in negotiating, deciding on detailed terms, and signing the contract. It is known that previously, Pomina Steel stated that its business plan for the 2026-2027 period was built on the basis of the cooperation and support agreement dated March 31, 2026, between Pomina and Vinhomes for the 2026-2027 period. At the same time, the company is actively working with domestic and foreign investment partners and will develop a specific plan before September 30, 2026.
Based on the measures already implemented, the Board of Directors will still prepare separate and consolidated interim financial statements for 2026 based on the going concern assumption.
Regarding business operations, in the second quarter of 2026, Pomina Steel recorded revenue of VND1,711 billion, an increase of 270.5% compared to the same period; The parent company's after-tax profit showed a loss of VND146.2 billion compared to a loss of VND170.2 billion in the same period last year. The gross profit margin decreased from 10.5% to 7.5%.
Pomina Steel stated that although the increase in gross profit in the second quarter helped offset some of the incurred costs, Pomina Steel still recorded a loss due to high financial costs, mainly including interest expenses and late payment penalties/interest to suppliers.
Cumulatively in the first half of 2026, Pomina Steel recorded revenue of VND2,176.9 billion, an increase of 46% compared to the same period last year; the parent company's after-tax profit showed a loss of VND325 billion compared to a loss of VND329.5 billion in the same period last year.
With continued losses in the first half of 2026, as of June 30, 2026, Pomina Steel had increased its total accumulated losses to VND3,808.8 billion, equivalent to 136.19% of its total charter capital, and simultaneously recorded negative equity of VND947.7 billion.
Source: VITIC/Bao Tai chinh – Dau tu